Hedge funds' net exposure to the 'Magnificent Seven' US tech giants rose to 22%, hitting a record high.

October 10: According to Goldman Sachs data, investor bullish sentiment toward large-cap tech stocks has reached an all-time high. Hedge funds' total U.S. net exposure to the "Magnificent 7" tech giants has risen to 22%, a record high. This figure has surged 7 percentage points since July, marking the largest 3-month increase since 2023, and breaking the 21% peak set in June 2024 (compared to just 8% at the 2022 bear market low).

Meanwhile, hedge funds' total U.S. net exposure to semiconductor stocks has risen to 12%, only slightly below the 14% peak set in June 2026, while this indicator was just 2% in early 2025. Current market demand for tech stocks is extremely strong. (The Kobeissi Letter)