This question bothers me as I am not sure if we could drop the assumption of uncountable cofinality:
Let $\kappa$ be an uncountable cardinal and let $x_\alpha, y_\alpha$ be collections of real numbers indexed by ordinals $\alpha<\kappa$. Suppose that
$$1\leqslant |x_\alpha + y_\alpha|$$
for all $\alpha$. Does it follow that there exists $\theta\in (0,1)$ such that at least one of the sets
$$\{\alpha\colon |x_\alpha| > \theta\}\text{ or }\{\alpha\colon |y_\alpha| > \theta\}$$ has cardinality $\kappa$?
This is trivial if $\operatorname{cf}(\kappa)\geqslant \omega_1$.