Hedge funds scooped up $4.8 billion worth of US stocks last week, marking the second-largest weekly net purchase since 2008. The buying spree, tracked through Goldman Sachs’ prime brokerage data, pushed hedge fund net purchases to a six-month high.
What’s driving the buying frenzy
Financial sector stocks appear to be a primary beneficiary of the rotation. Hedge funds have been strategically shifting allocations toward financials while simultaneously pulling back from technology and AI-related names.
Goldman’s analysis reveals significant cutbacks in tech and AI exposure amid 2026’s market volatility. Systematic hedge funds added $86 billion in equity exposure over just five trading sessions in mid-April, a pace that ranks among the largest buying sprees on record for systematic strategies.
In the week ending June 4, hedge funds bought global equities at the largest net dollar amount in four months.
