Investor Positioning and Flows

This report details a shift in investor positioning, characterized by a move away from large-cap Tech towards a more balanced rotation. Positioning indicators across systematic and discretionary strategies show a broad reduction in exposure.

Key Takeaways

• 1.Large-cap Tech positioning has dropped to neutral following a recent performance decline, while small-cap positioning remains modestly overweight.
• 2.Aggregate equity positioning was trimmed to slightly below neutral, while discretionary investor positioning slipped to modestly underweight.
• 3.Equity funds registered modest outflows of $5.0bn, notably driven by record outflows from dedicated Tech sector funds.

Table of Contents

• DB S&P 500 Forecasts
• Our Recent Publications
• Consolidated Equity Positioning
• Sector Positioning
• Volatility-Sensitive Systematic Strategies
• Investor Sentiment
• Equity Short Interest
• Option Metrics
• S&P 500 Options: Vol, Skew, Correlation
• Equity funds beta to the S&P 500
• Cross-Asset Fund Flows
• Equity Fund Flows
• Bond Fund Flows
• Cross-Asset Futures Positioning
• Equity Futures Positioning
• Bond Futures Positioning
• FX Futures Positioning
• Commodity Futures Positioning
• Buybacks Tracker
• Appendix

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