A Goldman portfolio of favorite stocks is up 29% this year. Here are the new members
A group of six stocks are favorites of both hedge funds and mutual funds, a quarterly study of the latest 13F filings shows.
TL;DR
- Six stocks were identified as "shared favorites" by both hedge funds and mutual funds in Q2 filings: Boeing, Capital One Financial, Mastercard, SpaceX, Thermo Fisher Scientific, and Visa.
- A portfolio of these shared favorites has returned 29% year-to-date, outperforming the equal-weighted S&P 500 by 13 percentage points.
- Capital One, SpaceX, and Thermo Fisher Scientific are new additions to the shared favorites group this quarter.
- Both hedge funds and mutual funds increased their exposure to financial stocks, with hedge funds increasing their net tilt to their largest position since prior to the Global Financial Crisis, and mutual funds carrying their largest overweight since at least 2012.
- The shared favorites group has a track record of outperformance since 2013, delivering an annualized return of 17% with higher volatility.
- These stocks typically trade at a higher price-to-earnings ratio compared to the median S&P 500 stock.