Hedge funds, which have been heavily concentrated in the so-called “Magnificent Seven” tech stocks, are now gradually reducing their exposure to these high-flying companies, according to a report by the Financial Times citing analysis by Goldman Sachs. It has such low exposure among hedge funds that it doesn’t even appear in Goldman’s data. When looking at the absolute number of hedge funds with positions in these tech giants, the trend is similar. Goldman Sachs estimates that traditional US long-short equity hedge funds are up 9% this year. Despite the overall reduction in Big Tech positions, certain stocks remain heavily owned by hedge funds.