Hedge funds 'net exposure to U.S. stocks rose to 22%, hitting a record high

According to data released by Goldman Sachs, investors 'bullish sentiment towards large technology stocks reached an all-time peak on October 10. Data shows that the net exposure of hedge funds to the "Magnificent 7" in U.S. stocks has climbed to 22%, setting a new record. This figure has increased by 7 percentage points since July, constituting the largest single-quarter increase since 2023, and also surpassing the high of 21% set in June 2024 (in sharp contrast to the 2022 bear market low of 8%). During the same period, the net exposure ratio of the semiconductor sector rose to 12%. Although it was slightly lower than the peak of 14% in June 2026, it was still higher than the 2% level at the beginning of 2025. The current market enthusiasm for the allocation of technology stocks continues to heat up.