LONDON, May 20 (Reuters) - Hedge funds stuck to their holdings in companies with strong fundamentals in April, particularly technology and semiconductor stocks, according to a report on Wednesday from data platform Hazeltree, in a month when the S&P 500 jumped over 10%.
Here are the details about hedge fund positioning in April:
o Among mega-cap stocks, Meta and Amazon.com experienced more than a 5% month-over-month increase in the number of funds holding long positions, Hazeltree said
o Nvidia experienced a 4.5% decline, but remained a favourite long in the semiconductor sector
o The share of companies in the Philadelphia Semiconductor Index in which hedge funds hold net long positions rose to 57% in April from 53% in March
o Crowding in the U.S. semiconductor sector remained most pronounced on the long side in Nvidia, followed by Broadcom and Lam Research
o On the short side, ON Semiconductor was the most crowded name, followed by Microchip Technology and Monolithic Power Systems
(Reporting by Samuel Indyk; additional reporting by Nell Mackenzie; Editing by Amanda Cooper and Barbara Lewis)
NVIDIA Corporation is the world leader in the design, development, and marketing of programmable graphics processors. The group also develops associated software. Net sales break down by family of products as follows:
- computing and networking solutions (89%): data center platforms and infrastructure, Ethernet interconnect solutions, high-performance computing solutions, platforms and solutions for autonomous and intelligent vehicles, solutions for enterprise artificial intelligence infrastructure, crypto-currency mining processors, embedded computer boards for robotics, teaching, learning and artificial intelligence development, etc.;
- graphics processors (11%): for PCs, game consoles, video game streaming platforms, workstations, etc. (GeForce, NVIDIA RTX, Quadro brands, etc.). The group also offers laptops, desktops, gaming computers, computer peripherals (monitors, mice, joysticks, remote controls, etc.), software for visual and virtual computing, platforms for automotive infotainment systems and cloud collaboration platforms.
Net sales break down by industry between data storage (88.3%), gaming (8.7%), professional visualization (1.4%), automotive (1.3%) and other (0.3%).
Net sales are distributed geographically as follows: the United States (46.9%), Singapore (18.2%), Taiwan (15.8%), China and Hong Kong (13.1%) and other (6%).
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