Hedge Funds Have Lost Their Love For Gold

After taking a cursory look at the recent 13-Fs filed by hedge funds, it became apparent that hedge funds were scaling back their exposures to gold.  George Soros was among the big names that unloaded his position.
According to Goldman Sachs' new Hedge Fund Trend Monitor report, hedge funds in aggregate scaled back big time.
Despite low turnover, hedge funds notably reduced holdings of underperforming long-time favorites Apple and gold while raising allocations to rallying Financials. For the first time in three years AAPL was not the top stock in our VIP list, instead ranking as the third most frequent top-10 holding. The stock fell 20% in 4Q and funds reduced positions by over 30%. Holdings in GLD were also lower than they have been in at least four years, equaling just 0.6% of long positions as the ETF fell 6% in price...