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Saturday, May 22, 2021 6:23:36 PM
Hedge Funds Had Another Dismal Quarter: Goldman Explains Why
By: Tyler Durden | May 21, 2021
• Earlier today we pointed out the big highlight from the latest Goldman hedge fund tracker for Q1 2021, which is that after years of being the undisputed king, Amazon was finally dethroned from atop its throne at the top of the Hedge Fund VIP list and replaced with fellow FAAMG stock Facebook.
As noted earlier, despite the change at the top, the same five stocks still rank atop Goldman's list of the most popular long positions, however in a new order: FB, MSFT, AMZN, GOOGL, BABA. Of the hedge funds in the analysis, 27% own FB shares, and 57% of those own it as a top 10 position. Of the 15 new VIPs, most are cyclicals, including C, GM, and FCX.
What are some of the other notable findings? Below we list what else caught Goldman's attention:
First, despite another strong start to the year, hedge fund performance was significantly challenged, again. Goldman's Hedge Fund Very Important Positions (HF VIP) basket of the most popular hedge fund long positions has lagged the S&P 500 by 11 pp (-6% vs. +5%) over the past 3 months, tied for its worst underperformance on record...
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By: Tyler Durden | May 21, 2021
• Earlier today we pointed out the big highlight from the latest Goldman hedge fund tracker for Q1 2021, which is that after years of being the undisputed king, Amazon was finally dethroned from atop its throne at the top of the Hedge Fund VIP list and replaced with fellow FAAMG stock Facebook.
As noted earlier, despite the change at the top, the same five stocks still rank atop Goldman's list of the most popular long positions, however in a new order: FB, MSFT, AMZN, GOOGL, BABA. Of the hedge funds in the analysis, 27% own FB shares, and 57% of those own it as a top 10 position. Of the 15 new VIPs, most are cyclicals, including C, GM, and FCX.
What are some of the other notable findings? Below we list what else caught Goldman's attention:
First, despite another strong start to the year, hedge fund performance was significantly challenged, again. Goldman's Hedge Fund Very Important Positions (HF VIP) basket of the most popular hedge fund long positions has lagged the S&P 500 by 11 pp (-6% vs. +5%) over the past 3 months, tied for its worst underperformance on record...
* * *
Read Full Story »»»
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