Hedge Funds' Net Exposure to US 'Magnificent 7' Tech Stocks Hits Record 22%

On October 10, according to The Kobeissi Letter, investor bullishness on large-cap tech stocks has reached an all-time high. Hedge funds' total US net exposure to the "Magnificent 7" tech stocks has risen to 22%, a record high.

The figure has surged by 7 percentage points since July, marking the largest 3-month increase since 2023 and breaking the previous high of 21% set in June 2024 (compared to just 8% at the 2022 bear market low). Meanwhile, hedge funds' total US net exposure to semiconductor stocks has risen to 12%, just slightly below the 14% peak set in June 2026, while this metric stood at only 2% at the start of 2025. Current market demand for tech stocks is extremely strong.

[TechFlow]