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Nearly 44% trimmed stakes in Magnificent Seven in Q2 13F filings
The SEC 13F data for the quarter ended June 30 showed the number of investors adding and cutting positions was close, with many changes swinging slightly negative.
Institutional investors pulled back slightly from several key US stock-market segments during the second quarter, according to Reuters analysis of quarterly 13F filings, reviewed from 6,371 pension funds, hedge funds, wealth managers and other institutional investors.
The analysis found nearly 44% of filers reduced their holdings of the Magnificent Seven group of megacap tech firms, including Microsoft and Meta Platforms, while 42% initiated or expanded positions in the group. The remaining filers reported no disclosed change in stake sizes, with filings covering the quarter through June 30.
Reuters also noted that investors do not disclose the reasoning for their position changes, though some market participants said the close match between buys and sells can signal a lack of consensus. Shaia Hosseinzadeh of OnyxPoint Global Management said the tight balance suggests no clear agreement even as spending on areas like AI continues.
Steve Sosnick of Interactive Brokers added that some funds may already have built positions near their preferred limits based on risk parameters or investment policies, which could help explain why stocks of firms with strong earnings have sometimes fallen afterward. The report also said institutions still showed a bullish tilt toward semiconductor names as of the end of the second quarter.