Long Semiconductor Positions Remain a Crowded Trade Despite Cooling Conviction
According to Bank of America’s October Global Fund Manager Survey, long positions in global semiconductors continue to be the most crowded trade among institutional investors. The survey included responses from 161 managers overseeing $453 billion in assets. While the level of consensus has decreased significantly since its peak in summer, semiconductor exposure remains highly concentrated across portfolios. The decline in conviction suggests that some fund managers are starting to question or reduce their overweights in semiconductors amid potential market saturation and concerns about valuation sustainability. This shift could signal a broader reassessment within the sector as investors look for more balanced opportunities beyond tech-heavy bets.
Tickers: $BAC
Topics: institutional investing market consensus semiconductors
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Part of the story Fund Managers Cut Bank Overweight Positioning Sharply in October (2 articles)