Hedge funds' most-loved stocks have nearly doubled the S & P 500 's return this year due to the continuous strength in Big Tech, according to Goldman Sachs.
It then compiled a basket of the most popular long positions, dubbed Goldman's Hedge Fund VIP basket, comprising 50 stocks that most frequently appear among the largest 10 holdings of hedge funds.
The group of hedge funds' favorite stocks has gained 9% this year through Feb. 14, outperforming the S & P 500's 5% return during the same period.
Amazon and Microsoft , which climbed 10% and 6% this year, respectively, were the two most popular stocks among fundamental hedge funds as of the end of 2023.
Meta Platforms , Alphabet and Nvidia were also well-loved among hedge funds last quarter.
Persons:
Goldman Sachs, Goldman, Meta
Organizations:
Big, Amazon, Microsoft, Nvidia, Natural Resources, Visa
Locations:
Big Tech