According to Goldman Sachs prime brokerage data, hedge funds sold AI-linked stocks at the second fastest pace in a year in July 2026, while their net leverage simultaneously declined. Their collective exposure to US tech stocks shrank by approximately 10% in market value since early June, the most substantial retreat the bank has recorded in over a decade. Selling concentrated in hardware, storage, peripherals, IT services, semiconductors, and software. By October 2026, exposure to the Magnificent Seven stocks had rebounded to roughly 22% of hedge funds’ US equity exposure, even as overall tech positioning eased.
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