Hedge funds, mutual funds' favorite US stocks? Goldman Sachs provides a reference list
Goldman Sachs released the latest hedge fund trend monitoring and mutual fund fundamental report, pointing out that mutual fund performance weakened this year, while hedge fund performance remained robust. Covering 693 hedge funds and 554 mutual funds, the report shows that large-cap mutual funds performed poorly, with only 34% outperforming the benchmark. Popular holdings include CRH, PGR, Visa, Uber, etc., indicating fund flows
According to the latest reports released by Goldman Sachs, the performance of mutual funds has weakened this year, while hedge funds continue to perform steadily.
The reports cover 693 hedge funds with a total equity position of $2.8 trillion (of which $1.8 trillion is long positions and $100 billion is short positions), and 554 mutual funds with total equity assets of $3.7 trillion.
Strategist David Kostin wrote, "So far this year, 34% of large-cap mutual funds have outperformed the benchmark, lower than the 50% in May and below the historical average of 38%."
"Among various investment styles, large-cap value funds have performed the best this year, with 45% of fund managers outperforming the Russell 1000 Value Index ETF-iShares (IWD.US)," Kostin said. "Large-cap core funds have performed the worst, with only 25% of funds outperforming the SPDR S&P 500 Index (SPY.US)."
"Goldman Sachs Prime Services estimates that driven by popular long positions and concentrated short positions, US equity fundamental long/short hedge funds have delivered a return of 9% year-to-date."
Specifically, eight stocks have appeared on Goldman Sachs' hedge fund VIP list (based on being a top ten holding in multiple funds), and mutual funds have also increased their holdings.
These popular stocks among hedge funds and mutual funds include:
CRH Cement (CRH.US)
Progressive Insurance (PGR.US)
Visa (V.US)
Fiserv (FI.US)
Uber (UBER.US)
Workday (WDAY.US)
Mastercard (MA.US)
UnitedHealth (UNH.US)
On the other hand, four stocks have appeared on the list of concentrated short positions by hedge funds, and mutual funds have been reducing their holdings in these stocks.
These unpopular stocks include:
Tesla (TSLA.US)
Intel (INTC.US)
Moderna (MRNA.US)
Chevron (CVX.US)
As for most of the "Big Seven" tech giants in the US stock market, investor opinions vary.
Among them, stocks favored by hedge funds but reduced by mutual funds include:
Apple (AAPL.US)
Amazon (AMZN.US)
Alphabet A (GOOGL.US)
Meta Platforms (META.US)
Microsoft (MSFT.US)
Nvidia (NVDA.US)
Berkshire Hathaway B (BRK.B.US)
JPMorgan Chase (JPM.US) General Electric (GE.US)
Eli Lilly (LLY.US)
Broadcom (AVGO.US)
Stocks that hedge funds are heavily shorting while mutual funds are increasing their holdings include:
Cencore (COR.US)
Marvell Technology (MRVL.US)
Dell (DELL.US)
Target (TGT.US)
eBay (EBAY.US)