Top 10 U.S. hedge funds ramp leverage to highest level since 2019

- The top 10 U.S. hedge funds have pushed leverage to levels not seen since 2019, driven by $90 billion of inflows over the last two quarters. - That leverage uptick coincides with concentrated long bets and elevated gamma exposure in mega‑caps ahead of earnings. - Dealers and margin desks are signaling stretched liquidity as funds chase scale into crowded AI and tech exposures. (x.com 1) (x.com 2)