Hedge funds are once again showing strong interest in Big Tech, with their net exposure to the Magnificent 7 stocks reaching 22% of total US exposure, according to Goldman Sachs data cited by The Kobeissi Letter.
The Magnificent Seven (Mag 7) stocks include Alphabet (GOOGL/GOOG), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA).
This surge in exposure marks a significant increase of about 7 percentage points since July, the largest three-month jump since 2023.
Furthermore, hedge fund total US net exposure to semiconductor stocks has also seen a notable increase, climbing to 12%, just below the peak of 14% recorded in June 2026.
Meanwhile, US semiconductor imports spiked by $2.4 billion in August to a record $15.4 billion, marking their largest monthly increase on record.
Over the last 5 months, US semiconductor imports have risen by $6.3 billion, or 69%, with a year-over-year increase of $10.0 billion, or 185%, the largest annual increase in history.
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