SMid PM Sentiment Meter: How are your peers positioned for the Summer?

研报英文原文证据摘录

SMid PM Sentiment Meter: How are your peers positioned for the Summer?

J P M O R G A N Global Markets Strategy

31 July 2026

SMid PM Sentiment Meter

How are your peers positioned for the Summer?

This report aims to assist you in assessing investor sentiment by analyzing the Small/Mid-Cap Strategy

ACpositioning of your peers. It provides you with: 1) what we consider to be the most Eduardo Lecubarri

comprehensive fund and stock ownership data available in the market at present; (44-20) 7134-5916

2) a holistic perspective of how your peer group is positioning, as we explore the eduardo.lecubarri@jpmorgan.com

entire universe of SMid funds across Pan-Europe and around the world; and 3) a J.P. Morgan Securities plc

frequent and consistent way of keeping an eye on your competition, as this report Shrey Solanky

is published monthly. At present, this is what your peer group is doing… (91-22) 6157-3184

shrey.solanky@jpmorgan.com

• Sectorwise… Financials and Materials were the two most common targets J.P. Morgan India Private Limited

among SMid PMs, while exposure to Tech remained a preference in some Priya Nyati

regions but was trimmed in others. Energy was the most consistent source of (91-22) 6157-3802

priya.nyati@jpmorgan.com

funding, seeing selling pressure across the world. J.P. Morgan India Private Limited

• Style-wise, different regions behaved differently last month with Quality Archit Agarwal

working in Europe, Value working in the US, and Growth working in Asia (91-22) 6157-3788

ex-J. We stick to our preference for stocks that not only offer a rerating story, archit.x.agarwal@jpmorgan.com

J.P. Morgan India Private Limited

but also achievable expectations and visibility of earnings. Against this, we

continue to avoid rich multiples on aggressive growth expectations.