Hedge funds significantly reduced their holdings of US stocks last week, ending three consecutive weeks of net purchases

The Kobeissi Letter stated in an article on X that last week, hedge funds' net sales of US stocks reached their largest weekly level since the week of "Liberation Day" in April 2025, ending three consecutive weeks of net purchases. Individual stocks accounted for approximately 53% of the total selling volume, with 9 out of 11 industries experiencing net selling, mainly concentrated in the information technology, industrial, utilities, healthcare, and materials sectors. Macro products such as index futures and ETFs account for approximately 47% of the total sales volume. Hedge funds have slightly increased their short positions in US listed ETFs, ending six consecutive weeks of short covering. Hedge funds are reducing their long exposure to US stocks.