Boeing and Uber are among the new favorite stocks of hedge funds, according to Goldman

Published Fri, Feb 21 202012:01 PM EST

(This story is for CNBC Pro subscribers only.) Hedge funds are pouring money into Uber and Boeing , according to investment bank Goldman Sachs. Goldman keeps its finger on the pulse of which companies hedge funds are betting on by tracking which stocks appear most often in their top holdings. Goldman's "VIP basket" of hedge fund favored stocks has outperformed the S & P 500 in 60% of the quarter since 2001. "Strong retail trading activity has contributed to an extraordinary rally of hedge fund favorite stocks," Goldman's research analyst Ben Snider said in a note to clients. The VIP list has returned 9% this year and 24% since the start of the fourth quarter last year. This compares to the S & P 500's 5% and 14% gains in the same periods of time, respectively. Here is a review of some of the other new entries to the favorites list. Boeing, Uber and Tesla are among the newest members of the list, according to filings for the fourth quarter. Aircraft maker Boeing has been embroiled in a crisis around its 737 Max plane that has caused a production halt and a CEO shakeup. The stock is down about 20% in the last 12 months but Wall Street analysts and hedge funds seem confident Boeing will recover. Hedge funds are also betting on ride hailing company Uber, who's stock has rallied nearly 40% in 2020. Many analysts are bullish on Uber's food delivery business, which rivals Door Dash and Postmates. Chase Coleman and his Tiger Global hedge fund added 11 million shares to its stake in Uber last quarter, boosting it into the top-10 holdings for the fund. Tiger Global also has JD.com in its top ten holdings, which is also on Goldman's VIP list. Elon Musk's Tesla shares have surged more than 100% in 2020 and hedge funds are in on the rally, Goldman said. A slew of bullish Wall Street calls and strong quarterly earnings last month gave investors more confidence about the electric automaker's balance sheet. Billionaire investor Ron Baron said on CNBC that he believes Tesla's revenue could top $1 trillion in the next decade . Bristol-Myers Squibb is another new favorite, Goldman said. Billionaire manager Seth Klarman, who has drawn comparisons to Warren Buffett for his disciplined and patient value style, is among the hedge fund managers betting on the pharmaceutical company . Klarman's firm Baupost Group has a $256 million stake in Bristol-Myers Squibb as of the end of the fourth quarter of 2019. Insurance corporation Centene and home improvement company Home Depot are also among the newest members to the hedge fund favorites list. Shares of Home Depot are up more than 12% this year. Computer data storage company Interxion and financial technology company SS & C Technologies are also on hedge funds' radar. Tiffany & Co. , which is set to be acquired by luxury brand company LVMH sometime this year, and cloud communications firm Twilio also made the VIP list in the fourth quarter, according to Goldman. — with reporting from CNBC's Michael Bloom.

A man holds up a smartphone with the Uber app visible on screen, as taxis queue in the background on June 4, 2019.

Olly Curtis | Future via Getty Images

(This story is for CNBC Pro subscribers only.)

Hedge funds are pouring money into Uber and Boeing, according to investment bank Goldman Sachs.

Goldman keeps its finger on the pulse of which companies hedge funds are betting on by tracking which stocks appear most often in their top holdings. Goldman's "VIP basket" of hedge fund favored stocks has outperformed the S&P 500 in 60% of the quarter since 2001.

"Strong retail trading activity has contributed to an extraordinary rally of hedge fund favorite stocks," Goldman's research analyst Ben Snider said in a note to clients.

The VIP list has returned 9% this year and 24% since the start of the fourth quarter last year. This compares to the S&P 500's 5% and 14% gains in the same periods of time, respectively.

Here is a review of some of the other new entries to the favorites list.