Positioning Intelligence Weekly Wrap

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.

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.

Table of Contents

• Summary
• POSITIONING INTELLIGENCE
• DISCLOSURE

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