Hedge funds piled into these stocks during the first-quarter sell-off

A trader at the New York Stock Exchange (NYSE) at Wall Street in New York City.
JOHANNES EISELE | AFP via Getty Images

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During the worst stock rout in more than a decade earlier this year, hedge fund managers piled into stay-at-home internet names while buying the dip in beaten-down coronavirus-impacted stocks.

RBC Capital Markets looked at a total of 342 hedge funds and their positions at the end of March based on their latest quarterly regulatory filings. The 10 top new picks in the hedge fund world during the first quarter outperformed the market by 8.4% on average in 2020, RBC finds.

These are the stocks where hedge fund ownership rose the most during the first-quarter sell-off.