April Portfolio Adjustments of Hedge Funds in U.S. Stocks: Strong Preference for Tech, Meta and Amazon See Heavy Buying, NVIDIA's Popularity Slightly Cools

According to a report released by data platform Hazeltree on Wednesday, hedge funds continued to firmly hold shares of companies with strong fundamentals in April, particularly within the technology and semiconductor sectors. During the month, the S&P 500 index rose by over 10%. The following details the positioning of hedge funds in April: Hazeltree noted that among mega-cap stocks, the number of funds holding long positions in Meta Platforms, Inc. (META.US) and Amazon.com (AMZN.US) increased by more than 5% month-over-month. Although the number of long positions in NVIDIA (NVDA.US) decreased by 4.5%, it remained the most favored long target in the semiconductor sector. Among the components of the Philadelphia Semiconductor Index, the proportion of companies held with net long positions by hedge funds rose from 53% in March to 57% in April. Regarding the crowdedness of long positions in the U.S. semiconductor sector, NVIDIA ranked first, followed by Broadcom (AVGO.US) and Lam Research (LRCX.US). On the short side, ON Semiconductor (ON.US) was the most crowded short target, followed by Microchip Technology (MCHP.US) and Monolithic Power Systems (MPWR.US).