Everyone Piling Into Semis: What The Latest Hedge Fund And Mutual Fund Positioning Tells Us About The Market

Over the weekend, Goldman published its Hedge Fund Trend Monitor and Mutual Fundamentals reports (both available to pro subs) which analyze 13F holdings at the end of Q1 2026 (we did a similar exercise at the micro level here). The analyses cover 1,059 hedge funds with $4.6 trillion of gross equity positions ($3.1 trillion long, $1.5 trillion short) and 509 large-cap active mutual funds with $3.9 trillion in equity assets.

Here are some of the main findings: