Hedge funds split on Big Tech as 13F filings show mixed bets
Q2 13F filings from 6,371 institutions show 44% cut Magnificent Seven stakes, 42% added, and 48% were net buyers of semiconductor stocks as of June 30.
An analysis of quarterly 13F regulatory filings covering 6,371 pension funds, hedge funds, wealth managers and other institutional investors shows split activity across major U.S. technology stocks in the second quarter. The filings record positions as of June 30.
Among the Magnificent Seven, including Microsoft and Meta Platforms, 44% of the institutions reduced their holdings while 42% increased or initiated positions during the quarter.
Semiconductor stocks attracted stronger buying: 48% of the filers were net buyers of semiconductor names at quarter end, while about 34.5% were net sellers.
The situation was less decisive for large software companies. Across 20 major software names, including Adobe and Datadog, 28.2% of institutions were net sellers and 26.3% increased exposure.
AI infrastructure and related firms saw some inflows. Thirty-six percent of filers were net buyers of companies such as CoreWeave, Arista Networks and Broadcom. The filings also show many institutions already held sizable positions in leading tech names, which can limit their capacity to add more.
The 13F filings provide a snapshot of holdings as of June 30 and do not capture trades or position changes made after that date.
Articles by this author
