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Despite a challenging market environment for hedge funds, they have returned on average 7% so far in 2017.
While that mark has not been good enough to beat the market, they are still on pace for their best return since 2009.
In a recently released report, Goldman Sachs Portfolio Strategy Research wrote, “2017 has been defined by low volatility and low return dispersion.”
That low volatility has led many hedge funds to rely on a select number of stocks to drive returns.
And according to Goldman Sachs Portfolio Strategy Research, crowding into the most popular positions rose in the second quarter of 2017.
Goldman Sachs takes these positions into account when compiling their own Hedge Fund VIP list, which has outperformed the S&P 500 by 702 basis points (7.02%) so far in 2017.
Here’s a look at Goldman Sachs’s top 13 Hedge Fund VIP stocks.
13. Dell Technologies
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Ticker: DVMT
Subsector: Systems Software
Total return year-to-date: +21%
No. of funds with stock as top 10 holding: 26
Source: Goldman Sachs
12. Citigroup
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Ticker: C
Subsector: Diversified Banks
Total return year-to-date: +13%
No. of funds with stock as top 10 holding: 31
Source: Goldman Sachs
11. Bank of America
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Ticker: BAC
Subsector: Diversified Banks
Total return year-to-date: +8%
No. of funds with stock as top 10 holding: 32
Source: Goldman Sachs
10. Apple
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Ticker: AAPL
Subsector: Technology Hardware Storage & Peripherals
Total return year-to-date: +38%
No. of funds with stock as top 10 holding: 38
Source: Goldman Sachs
9. Visa
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Ticker: V
Subsector: Data Processing & Outsourced Services
Total return year-to-date: +32%
No. of funds with stock as top 10 holding: 39
Source: Goldman Sachs
8. NXP Semiconductors
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Ticker: NXPI
Subsector: Semiconductors
Total return year-to-date: +15%
No. of funds with stock as top 10 holding: 40
Source: Goldman Sachs
7. Microsoft
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Ticker: MSFT
Subsector: Systems Software
Total return year-to-date: +19%
No. of funds with stock as top 10 holding: 44
Source: Goldman Sachs
6. Charter Communications
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Ticker: CHTR
Subsector: Cable & Satellite
Total return year-to-date: +37%
No. of funds with stock as top 10 holding: 49
Source: Goldman Sachs
5. Alphabet
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Ticker: GOOGL
Subsector: Internet Software & Services
Total return year-to-date: +17%
No. of funds with stock as top 10 holding: 53
Source: Goldman Sachs
4. Time Warner
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Ticker: TWX
Subsector: Movies & Entertainment
Total return year-to-date: +7%
No. of funds with stock as top 10 holding: 56
Source: Goldman Sachs
3. Alibaba (ADR)
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Ticker: BABA
Subsector: Internet Software & Services
Total return year-to-date: +87%
No. of funds with stock as top 10 holding: 57
Source: Goldman Sachs
2. Amazon
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Ticker: AMZN
Subsector: Internet & Direct Marketing Retail
Total return year-to-date: +28%
No. of funds with stock as top 10 holding: 65
Source: Goldman Sachs
1. Facebook
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Ticker: FB
Subsector: Internet Software &Services
Total return year-to-date: +45%
No. of funds with stock as top 10 holding: 80
Source: Goldman Sachs
SEE ALSO:
GOLDMAN SACHS: This may not be the big correction that markets have been waiting for
Het bericht GOLDMAN SACHS: Here are the 13 VIP stocks that are most popular with hedge funds verscheen eerst op Business Insider.