“Our Hedge Fund VIP list of the most popular long positions suffered its worst 1-month underperformance vs. the S&P 500 in more than 20 years of history, and July marked one of the sharpest hedge fund de-grossing episodes of the past decade,”

Goldman strategists led by Ben Snider · said date not stated · reported 2026-08-21

Goldman Sachs noted historic underperformance among top hedge fund long positions as AI momentum unwound.