Hedge Funds Net Sell Tech Stocks at Near Decade Record Last Week

Hedge funds are selling off global tech stocks at a pace close to historical records due to rising uncertainty over data center construction prospects following the U.S. midterm elections. Last week, tech stocks became the largest net sell sector globally and in the U.S., with the net sell ratio roughly in line with Goldman Sachs' highest record since 2016. Positioning data shows a significant contraction in risk appetite, with the total leverage of hedge funds employing long-short strategies on U.S. fundamentals dropping by 8.7 percentage points to 207.5%, marking the largest weekly decline since March 2020; the net leverage rate fell by 3.7 percentage points to 43.3%, the largest weekly decline since April 2025.

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