This Is What Hedge Funds Bought And Sold In Q2: Full 13F Summary

In a quarter when tech stocks soared driven by the "AI-revolution", it's hardly a surprise that hedge funds would pile into some of the biggest technology names to capture the frenzied upward momentum which has sent the Nasdaq 40% higher YTD.

And sure enough, as the latest 13F reporting seasons reveals, that's precisely what they did as the following wrap of HF activity courtesy of Bloomberg reveals:

• Institutional investors added 5.7 million shares of Meta Platforms at $6.7 billion, the biggest increase by market value for a single stock in the three months through June. They also bolstered positions in Microsoft and Apple. Naturally, Nvidia and AMD, both at the forefront of AI technology, were among popular companies that hedge funds and top investors piled into.
• On the other end, Intel was an outlier with the biggest decrease in aggregate position of 41 million shares being sold. Some investors are concerned that the chipmaker could be left behind as its products are ill-suited for AI’s tech needs.
• Institutional investors also reduced the value of their investment in Alibaba Group. Among those, Michael Burry's Scion Asset Management, ditched its stake in China’s tech giant just months after doubling down on the shares.