There have been a few headlines recently of several hedge funds getting burned by the AI trade (Situational Awareness comes to mind). I was curious of the extent of the industry's exposure, and the industry as a whole still has large exposure to AI. **Note, this is based on 13F filings as of 2026-06-30, which are comprised of long-only positions**.
One interesting thing I found was that Sachem Head Capital Management opened a 472,000-share position in Seagate Technology, during this period, making it its second largest holding. Similar to other AI names, it's had a really good year (up 194%) but has fallen a bit recently.
The rest are tables of largest position increases and exits:
Increases:
|Symbol|Sector|Change in Shares|Q2 Price|
|:-|:-|:-|:-|
|ABT|Healthcare|\+190%|\-11.9%|
|PG|Consumer Defensive|\+160%|\+1.5%|
|CVX|Energy|\+138%|\-19.9%|
|HD|Consumer Cyclical|\+134%|\+7.2%|
|TXN|Technology|\+118%|\+53.5%|
|CSCO|Technology|\+72%|\+51.4%|
|COST|Consumer Defensive|\+67%|\-6.7%|
|AAPL|Technology|\+60%|\+14%|
|STX|Technology|\+55%|\+146%|
|AMZN|Technology|\+39%|14.4%|
|NVDA|Technology|\+38%|14.7%|
|INTC|Technology|\+38%|\+216%|
Largest exits:
|Symbol|Sector|Change in value|
|:-|:-|:-|
|EA (taken private)|Comm. Services|\-58.7%|
|SLAB|Technology|\-74%|
|LBRT|Energy|\-91.2%|
|CPNG|Consumer Cyclical|\-32.6%|
|ADBE|Technology|\-16.4%|
|CRCL|Financials|\-53.8%|
|SOFI|Financials|\-41.1%|
|CHWY|Consumer Cyclical|\-50.7%|
|BSX|Healthcare|\-10.4%|
|LVS|Consumer Cyclical|\-27.7%|
|OVV|Energy|\-34.8%|
|EQT|Energy|\-32.4%|