Now that the 13Fs have been filed with the SEC, it is time to update the Hedge Consensus and Hedge Fund Best Ideas Portfolios. (We quit tracking the Activist Portfolio – for the reasoning read this earlier post.)
In our backtest, tracking the hedge funds resulted in an increase in returns of around 6%-12% with similar risk as buy and hold. So far this year the portfolios are performing robustly out of sample with approximately 6% outperformance. Background on this post can be found in these links:
BAM, QCOM, UFS, and USG all notched worse than -20% returns over the recent period. GOOG was the best performer.
(New holdings are in bold, sold positions in italics after the portfolio)
HEDGE FUND CONSENSUS
HEDGE FUND BEST IDEAS