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Where hedge funds put their money, sector by sector, every quarter since Q1 2023 - and where they moved it. Pick a quarter to see that quarter's buying and selling, and how each sector's weight changed from the quarter and the year before.
| Sector | vs Q1 ’26 | vs a year | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Technology | 21.1 | 23.4 | 22.7 | 24.2 | 24.6 | 25.6 | 24.1 | 24.9 | 23.3 | 24.8 | 26.5 | 26.1 | 25.4 | 29.7 | +4.2 pts | +4.9 pts |
| Healthcare | 14.5 | 13.5 | 13.5 | 12.8 | 12.4 | 12.5 | 12.5 | 11.8 | 12.4 | 11.7 | 10.9 | 11.6 | 11.3 | 11.2 | −0.0 pts | −0.4 pts |
| Consumer Cyclical | 14.0 | 14.3 | 13.8 | 14.0 | 13.7 | 13.4 | 13.6 | 13.6 | 13.3 | 13.2 | 12.9 | 12.9 | 11.8 | 10.7 | −1.1 pts | −2.5 pts |
| Financial Services | 11.8 | 11.3 | 11.7 | 12.3 | 12.8 | 12.6 | 13.2 | 13.6 | 13.8 | 13.7 | 13.4 | 13.2 | 13.0 | 12.5 | −0.5 pts | −1.2 pts |
| Industrials | 10.3 | 10.9 | 10.5 | 10.1 | 10.3 | 10.3 | 10.9 | 10.6 | 10.7 | 11.0 | 10.8 | 11.1 | 12.0 | 12.7 | +0.7 pts | +1.6 pts |
| Communication Services | 7.4 | 7.6 | 8.0 | 8.0 | 7.6 | 7.7 | 8.0 | 8.6 | 8.3 | 8.8 | 8.9 | 8.3 | 7.3 | 6.8 | −0.4 pts | −1.9 pts |
| Energy | 6.6 | 5.4 | 6.2 | 5.2 | 5.4 | 5.2 | 4.4 | 4.4 | 4.8 | 4.0 | 4.1 | 4.0 | 5.8 | 4.5 | −1.2 pts | +0.5 pts |
| Consumer Defensive | 5.5 | 5.4 | 5.6 | 5.3 | 5.2 | 4.9 | 4.8 | 4.6 | 4.9 | 4.7 | 4.3 | 4.3 | 4.0 | 3.6 | −0.4 pts | −1.1 pts |
| Basic Materials | 3.7 | 3.4 | 3.3 | 3.3 | 3.3 | 3.1 | 3.2 | 2.9 | 3.1 | 3.2 | 3.4 | 3.8 | 4.3 | 3.4 | −0.9 pts | +0.2 pts |
| Real Estate | 2.9 | 2.8 | 2.7 | 2.8 | 2.7 | 2.5 | 2.9 | 2.5 | 2.8 | 2.5 | 2.5 | 2.4 | 2.6 | 2.5 | −0.0 pts | +0.0 pts |
| Utilities | 2.1 | 1.9 | 1.9 | 1.8 | 1.9 | 2.0 | 2.3 | 2.3 | 2.4 | 2.3 | 2.1 | 2.1 | 2.4 | 2.1 | −0.3 pts | −0.2 pts |
| Other | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.0 pts | +0.1 pts |
Each column is one quarter's books, as a percentage of the dollars in single stocks; each cell is tinted by how much that sector's weight moved from the quarter before, green for up and red for down. Click a quarter to read it.
Source: SEC EDGAR Form 13F filings for the hedge funds on this site's list. Weights are of each quarter's single-stock positions - ETFs are left out, because they make up much of every market maker's book and their weight moving would read as every sector rotating at once. Sectors come from our stock universe and Yahoo Finance, and cover 99.75% of the Q2 2026 dollars; the remainder is grouped as Other. A weight moves with prices as well as with trading, so a sector can gain weight in a quarter nobody bought it. Net buying is the part that is trading alone: every manager's change in shares since its previous filing, adjusted for splits and valued at the quarter-end price, added up by sector. A manager counts as buying a sector when its trades in it add up to a net purchase. All dollars weighs every fund by its size; average fund counts every book once.