BREAKING: Hedge funds sold more global technology stocks in the 5 trading sessions ending October 15th than in any other 5-session period since 2016. 5-day sales were 2.6 standard deviations above the average over the last 12 months. Over this period, the largest sales were recorded in the US technology sector, with semiconductor stocks accounting for 57% of US tech sales. Meanwhile, in just 1 week, hedge funds reversed all cumulative purchases of AI stocks since the start of 2025, erasing nearly 2 years of accumulation in this group. Despite the sales, hedge fund net exposure to global tech stocks remains higher than it has been 90% of the time over the last 5 years. Hedge funds are reducing their exposure to tech at a record pace.