Tech leaders favoured by hedge funds last month, Hazeltree says

Hazeltree data show hedge funds in April leaned into technology and semiconductors as the S&P 500 surged over 10% that month. Mega-caps Meta and Amazon saw a >5% month-on-month rise in the number of hedge funds holding long positions, while Nvidia saw a 4.5% decline in fund ownership but remained the most crowded long in the semiconductor group. The share of firms in the Philadelphia Semiconductor Index with net long hedge-fund positions climbed to 57% from 53% in March, highlighting growing concentration in semiconductors. Short-side crowding was concentrated in ON Semiconductor, Microchip Technology and Monolithic Power Systems. The positioning underscores continued hedge-fund preference for tech leadership but also rising crowding risks within the semiconductor space.