# Fund managers chasing the powerful rally in equities increased their allocations to stocks by the most on record this month.

*business · news · 2026-05-19 · Financial Post*

## Key points

- Asset allocators increased their stock exposure to a net 50% overweight in May from 13% last month.
- Fund managers' equity overweight is at its highest since January 2022, nearing BofA’s sell signal.
- The Philadelphia Semiconductor Index surged nearly 50% since March, cited as the most crowded trade.
- A net 4% of fund managers are underweight European stocks, down from 35% overweight at Iran war start.
- This represents one of the sharpest recorded rotations from European to US equities since 1999.

**Companies:** Bank of America Corp.
**Countries:** United States, Iran

[Read the full story on Financial Post](https://financialpost.com/pmn/business-pmn/fund-managers-boost-stock-allocations-by-a-record-in-bofa-poll)

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