Goldman Sachs
July 2, 2026
Global Equities Call
Daily UpdateDerivativesEquitiesFinancialsInformation Technology
Global Fundamental L/S hedge funds posted record Q2 performance, while the Russell 2000 demonstrated strong H1 gains despite recent index reconstitution shifts. Analysts remain cautious regarding short-term momentum factor risks during the summer months.
Key Takeaways
- 1.Global Fundamental Long/Short hedge funds finished Q2 with record-breaking quarterly performance of +18.4%.
- 2.Russell 2000 has seen strong H1 2026 performance, though index reconstitution reduced AI infrastructure exposure.
Table of Contents
- GS Global Equities Call
- WHAT WE'RE WATCHING
- US Macroscope: Decomposing recent Russell 2000 outperformance and the second-half outlook for small caps
- Momentum Summer Slump?
- STANDOUTS FROM YESTERDAY
- GS Trading & Sector Specialist Sector Sentiment Trends - June 2026
- GS RATING AND CONVICTION LIST CHANGES
- More in Macro
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Authors
Matthew KaplanJonathan HurvitzChloe GarberLilly Belt
Securities
S&P 500RTYTSM
Themes
Artificial Intelligence infrastructureMomentum factor volatility
Regions
GlobalAsia PacificEuropeUnited StatesCanadaSouth Korea