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2025-07-29 00:37:52
[Goldman Sachs prime brokerage data: Hedge funds sell U.S. technology stocks at the fastest pace in a year] Goldman Sachs' prime brokerage department report shows that in the week ending July 25, hedge funds reduced their risk exposure to U.S. technology, media and telecommunications (TMT) stocks at the fastest pace since July 2024, and the selling speed of long positions exceeded short covering. Data shows that most sub-sectors of TMT have seen risk reduction, led by semiconductors and semiconductor equipment, software, information technology (IT) services and media stocks. The technology sector's earnings season is entering its peak, with companies such as Amazon, Apple, Meta Platforms Inc. and Microsoft scheduled to report results this week. "The net exposure of the semiconductor and semiconductor equipment sector as a proportion of the total exposure of U.S. prime brokerage clients is still close to a five-year high, at the 94th percentile; while the net exposure of the software and services sector is close to a five-year low, at the 2nd percentile," Vincent Lin, co-head of Goldman Sachs' prime brokerage insights and analysis, wrote in the report.
