Apple is no longer the most-loved stock among hedge funds.
The Goldman Sachs equity strategy team is out with its new list of the most important stocks in the hedge fund world, and " after three consecutive years as the top hedge fund holding, AAPL has slipped to third pace, with 67 funds (11%) holding the stock as a top-10 position versus 109 last quarter (19%)."
The new top stock: AIG.
At the end of the fourth quarter, 117 funds were holding the stock, and it was a top-10 holding for 80 of those funds.
AIG is up 22.5 percent since mid-November, almost double the S&P 500.
Goldman analyst Michael Nannizzi has a $43 price target on the stock, 14.5 percent above today's closing share price of $37.57.
The insurer reports earnings Thursday after the closing bell.
For those unfamiliar with the VIP list, here is a brief explanation from Goldman of how it works:
Our hedge fund VIP list (Bloomberg ticker:
Click on the image below to see the top ten stocks held by hedge funds, according to the latest list:
More From Business Insider