Hedge funds cut tech exposure at fastest pace in a decade

Hedge funds cut their technology stock exposure at the fastest pace in at least ten years over the five sessions ending 15 October, according to Goldman Sachs prime brokerage data. The Nasdaq 100 fell 5.5 percent over the same week, its worst performance since April 2025.

Information technology dominated the net sales, and semiconductors recorded the largest dollar losses. Technology still accounts for 23.5 percent of hedge funds’ global net allocation in the bank’s data, a figure in the top decile of the past five years’ observations.

CoreWeave under pressure

CoreWeave shares fell about 15 percent on 14 October. Some of the company’s bonds yielded 15 percent or more on the secondary market.

Goldman Sachs upgraded CoreWeave to buy on 19 October.

Scope of the data

The figures cover positions tracked through Goldman Sachs’ prime brokerage business. They do not capture all hedge fund activity worldwide.

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Source: Goldman Sachs  |  Data: Nasdaq