Goldman Says Hedge Funds Cut Magnificent Seven, Bought China Stocks

Goldman Says Hedge Funds Cut Magnificent Seven, Bought China Stocks

Hedge funds cut their holdings of the so-called Magnificent Seven technology stocks while increasing exposure to Chinese companies listed in the US during the first quarter, according to Goldman Sachs Group Inc. strategists.

Skye Global Slashes Its Stake in Amazon

Skye Global cut its largest long position nearly in half in the first quarter, a big move for the concentrated hedge fund headed by Jamie Sterne.Sterne traditionally runs a portfolio where one or two stocks account for the bulk of assets. So it was striking when Sterne reported in his first-quarter 13F that he’d sold more than five million shares of Amazon, or 45 percent of the total position.

Hedge funds trim ‘Magnificent Seven’ exposure, pivot to undervalued China tech, says GS

Hedge funds scaled back their exposure to the “Magnificent Seven” mega-cap US tech stocks in Q1 while rotating into US-listed Chinese equities, according to Bloomberg report citing new research by the prime brokerage team at Goldman Sachs. The shift underscores a tactical pivot toward undervalued tech names amid concerns over stretched US valuations and growing interest in China’s AI resurgence. Goldman’s analysis, based on filings from 684 hedg…

Hedge funds cut U.S. Big Tech stocks, bought China: Goldman - Business Fast

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