Report published May 22, 2026

Positioning Intelligence Weekly Wrap: J.P. Morgan Analysis (May 25, 2026)

J.P. Morgan · May 22, 2026

Hedge funds remain heavily positioned in Tech and Momentum despite volatility, though US tactical positioning monitors have turned negative. Strong buying continues in AxJ (Taiwan/Korea) while global leverage has dipped slightly.

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Finvaulta summarizes J.P. Morgan's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Hedge Funds maintain historically high net exposure to the Momentum factor and remain net buyers of US Tech (Hardware, Semis, and Software) despite recent volatility.
2.US equity positioning is weakening, with the US Tactical Positioning Monitor flipping negative to -1.5z and aggregate net leverage falling.
3.Regional flows were strong in Asia ex-Japan (AxJ), specifically Taiwan and Korea, while flows in Japan and Europe showed signs of rolling over or mixing.

Summary
POSITIONING INTELLIGENCE

Report data

Positioning Intelligence Summary Chart

Metric	Estimate	Context
US Tactical Positioning Monitor (1wk change)	-1.5 z-score	Flipped back negative, indicating weakening US tactical positioning.
HF Net Leverage (All Strategies)	-2.6%	Global decline in net leverage, sitting at 62nd percentile over 5 years.
AxJ HF Buying	2 z-score	Strong buying led by longs added month-to-date.