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Steven Tananbaum of GoldenTree Asset Management argues that distressed opportunities are emerging in telecom and cable sectors due to fundamental business-model challenges. He highlights credit-equity valuation disconnects at Comcast, Charter Communications, and Cable One, suggesting potential openings across the capital structure.
Stockpicking hedge funds made the largest-ever shift into information technology stocks in Q1 2026, with average semiconductor allocation reaching 10%. Top holdings Amazon, Nvidia, Alphabet, Microsoft, and Meta outperformed the S&P 500 by 13% to 9% through May 21. Funds reduced software exposure to 6% and increased bets against defensive sectors.
Hedge funds have been net sellers of semiconductor stocks over the past month, with reductions concentrated in long holdings, according to Goldman Sachs prime brokerage data. The selling is attributed to rebalancing pressure from strong gains, not a loss of conviction in AI.
Hedge funds purchased US equities at the fastest pace in six months last week, driven by long buys and short covering in index and ETF products. Short positions in US-listed ETFs fell for a second week, declining 0.6%.