Mebane Faber of World Beta has been tracking the 13F filings of the world's best hedge fund managers to find the consensus "value" picks that are capable of outperforming the market. Of course, past performance is no guarantee of future performance, but World Beta's "hedge fund consensus" portfolio has generated a 13.39% return since inception. (By way of comparison, the S&P 500 is down 8.43% during that same time.) The basic idea, of course, is that if a group of 15 top hedge fund managers can agree on a few "value" names, they must be worth holding.

Of the top holdings owned by these 15 hedge funds, Qualcomm (QCOM) was the standout performer, while American Express was the worst performer. The most popular hedge fund consensus picks were AXP (owned by 6 out of the 15 funds), MSFT (5), GOOG (5), AMX (5), WLP (4), TGT (3), QCOM (3), MA (3), BRK (3) and AAPL (3).

Among the hedge funds tracked by World Beta: Baupost Group, Greenlight Capital, Lone Pine Capital and Maverick Capital.

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[image: Mebane Faber of World Beta]