Hedge funds have lifted their net exposure to the Magnificent 7 stocks to 22% of total US exposure, according to Goldman Sachs data. US semiconductor imports also hit a record in August.
Hedge funds' net exposure to the Magnificent 7 stocks has climbed to 22% of total US exposure, according to Goldman Sachs data cited by The Kobeissi Letter. The group covers Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla.
The reading is up about 7 percentage points since July, the biggest three-month jump since 2023. It also tops the 21% peak from June of 2024.
Today's level is nearly triple the 8% low hit at the bottom of the 2022 bear market, the source says.
Separately, hedge fund total US net exposure to semiconductor stocks is up to 12%, just below the 14% peak recorded in June 2026, compared with 2% at the start of 2025. The Kobeissi Letter added: "Everyone wants tech stocks right now."
The news comes as US semiconductor imports surged $2.4 billion in August to a record $15.4 billion, the largest monthly increase on record.
Over the last five months, those imports have risen $6.3 billion, or 69%. Year over year, the figure rose $10.0 billion, or 185%, its largest annual increase in history.
Source: The Daily Hodl
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