Click to view a price quote on ^GSPC. : While the average equity hedge fund has returned a decent 2% year to date says Goldman Sachs (S&P 500 Index  flat), their top positions are out-performing. Funds have made few changes among their top holdings this year, which has served them well. Goldman's "Hedge Fund VIP" basket of the most popular long positions has out-performed the S&P 500 by 91 basis points year to date (3.5% vs. 2.6%) despite bouts of market turbulence in late January and April.