Hedge funds and mutual funds — two of the biggest investor groups — piled into a handful of the same stocks last quarter in anticipation of changing market leadership and higher volatility, according to Goldman Sachs. The Wall Street bank analyzed the holdings of 693 hedge funds with $2.8 trillion of gross equity positions as well as the holdings of 554 mutual funds with $3.7 trillion of equity assets at the start of the third quarter, based on regulatory filings.
The list includes credit card giants Visa and Mastercard and building material company CRH PLC . Notably, Third Point's Dan Loeb owned the Dublin-based CRH PLC and said he's bullish on companies in the "physical world" with attractive prices. Health care name UnitedHealth and insurer Progressive were also loved by both hedge funds and mutual funds.