The VIP basket has outperformed the S&P 500 this year with a gain of 19%, compared with the S&P 500's 17% return.
Hedge funds' favorite stocks are beating the broader market thanks to the continuous strength of technology giants, according to Goldman Sachs. The Wall Street bank analyzed the holdings of 693 fundamentally-driven hedge funds with $2.8 trillion of gross equity positions at the end of the second quarter, based on regulatory filings.
"From an implementation standpoint, the Hedge Fund VIP list represents a tool for investors seeking to 'follow the smart money' based on 13-F filings," Goldman said. The VIP basket includes stocks from nine of the 11 S & P 500 with real estate and utilities absent from the list. Technology stocks have the largest representation in the portfolio with a 24% weighting.
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