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Here are the new top stock picks of hedge funds, according to Goldman Sachs

Traders work on the floor of the New York Stock Exchange.

NYSE

Hedge funds have found themselves a new top favorite stock, and the industry is increasingly betting on shares that stand to benefit the most from the economic recovery, according to Goldman Sachs’ basket tracking the community’s most-loved positions.

The so-called hedge fund “very important position” portfolio contains 50 stocks that appear most often on the top 10 holdings of fundamentally-driven hedge funds, according to the firm. Goldman analyzed quarterly regulatory filings from 807 hedge funds with $1.8 trillion of gross equity positions.

Facebook overtook Amazon at the top of the VIP list amid a growth stock shakeout in the first quarter, according to Goldman. Of the hedge funds in Goldman’s analysis, 27% own Facebook shares and 57% of those own it as a top 10 position.

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