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Hedge Funds Slash Tech in Pivot to Other Strategies, Goldman Report Says

  • Funds more tilted to cheap stocks than at any time since 2011
  • U.S. equity hedge funds lost 3% on average this year: Goldman
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U.S. hedge funds have been slashing positions in technology stocks, and started 2022 more tilted toward cheaper shares than at any time in over a decade, according to Goldman Sachs Group Inc.

“Filings show hedge funds positioning for a different equity market environment than the one that has characterized most of the last several years,” strategists led by Ben Snider wrote in a note to clients. Funds with $2.6 trillion of gross equity holdings have reduced positions in more expensive growth sectors in favor of energy and financials, according to the note.