Goldman Sachs recently released its Hedge Fund Trend Monitor, a massive report detailing the fourth quarter investment moves made by the world's biggest hedge funds.
The big news was that Apple lost its spot as hedge funds' favorite stock.
Believe it or not, Apple got dethroned by AIG, the beleaguered insurance company that was at the center of the financial crisis.
AIG and Apple are constituents of Goldman's "Hedge Fund VIP (Very-Important-Positions)," a basket of 50 stocks that "mattered most" to hedge fund managers. The all of the stocks rank among the top ten holdings of many of the biggest funds.
"While Very Important Positions that “mattered most” surged 23% last year, the typical fund returned just 8%, lagging the S&P 500 by over 800 bp," wrote Goldman.
50. Realogy Holding Corp.
Ticker: RLGY
No. of funds with stock as top 10 holding: 13
Sector: Real estate services
Equity cap: $6 billion
Percent of equity cap owned by hedge funds: 77%
Total return, over the past year: 8%
Source: Goldman Sachs
49. Pioneer Natural Resources
Ticker: PXD
No. of funds with stock as top 10 holding: 13
Sector: Oil and gas exploration and production
Equity cap: $16 billion
Percent of equity cap owned by hedge funds: 14%
Total return, over the past year: 22%
Source: Goldman Sachs
48. MetroPCS Communications
Ticker: PCS
No. of funds with stock as top 10 holding: 13
Sector: Wireless telecommunications services
Equity cap: $4 billion
Percent of equity cap owned by hedge funds: 31%
Total return, over the past year: 3%
Source: Goldman Sachs
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