Google Inc (GOOG) Is Now Top Holding Of Hedge Funds

The latest from Goldman Sachs hedge fund monitor notes a distinct reduction in exposure to growth and momentum stocks in the first quarter. The quarterly report that analyzes hedge fund positions also found that for the first time its list of “most important” stocks, or Hedge Fund VIP list, underperformed the S&P 500 (INDEXSP:.INX) by 100 bps. Media and Internet stocks were largely responsible for this underperfomance. Google is now top holding of hedge funds, displacing General Motors Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) came up as the most held company among hedge funds, however, that was not because of an increase in ownership…