Hedge funds bullish on tech stocks

With hedge funds making their second-quarter positions public, fund managers have largely maintained their optimism about technology stocks. According to the half-year positions of over 5,800 hedge funds, technology stock positions increased by 1.5 percent quarter-on-quarter and constituted 25 percent of total stock positions. However, there are also large hedge funds that stand out from the general picture. Tiger Global, managed by Chase Coleman, reduced its technology stock position by 5.2 percent, while Maverick, managed by Lee Ainslie, reduced its technology stock position by 3.5 percent. Lone Pine Capital, led by Steve Mandel, reduced its technology stock position by 2.4 percent, while Coatue Management, known for its optimism towards these stocks, reduced its positions in Nvidia, Meta, Tesla and Netflix. Berkshire Hathaway, managed by famous investor Warren Buffett, reduced its stake in video game maker Activision Blizzard by 70 percent and invested in American-based construction companies such as DR Horton and NVR. Berkshire sold net $7.98 billion in stocks in Q2