(Bloomberg) Hedge funds, who’ve seen their reputations take a beating in recent months, have not suffered a corresponding hit to their confidence, at least as far as stock-picking goes. So says research from Goldman Sachs Group Inc., which found that a stock-selection metric known as concentration climbed at the end of the first quarter to the highest level on record. The term refers to the percentage of hedge fund holdings accounted for by their 10 biggest positions, currently at 68 percent.
Goldman Says Hedge Funds Wedded to Top Picks Like Never Before
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