Tech leaders favoured by hedge funds last month, Hazeltree says

LONDON, May 20 : Hedge funds stuck to their holdings in companies with strong fundamentals in April, particularly technology and semiconductor stocks, according to a report on Wednesday from data platform Hazeltree, in a month when the S&P 500 jumped over 10 per cent. 

Here are the details about hedge fund positioning in April:  

• Among mega-cap stocks, Meta and Amazon.com experienced more than a 5 per cent month-over-month increase in the number of funds holding long positions, Hazeltree said

• Nvidia experienced a 4.5 per cent decline, but remained a favourite long in the semiconductor sector

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• The share of companies in the Philadelphia Semiconductor Index in which hedge funds hold net long positions rose to 57 per cent in April from 53 per cent in March

• Crowding in the U.S. semiconductor sector remained most pronounced on the long side in Nvidia, followed by Broadcom and Lam Research

• On the short side, ON Semiconductor was the most crowded name, followed by Microchip Technology and Monolithic Power Systems