Active-Fund Managers Catch a Case Bubble-Phobia, Sapping Alpha
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Active stock pickers have taken Wall Street’s warnings about an AI bubble to heart, scaling back their exposure to technology high-flyers amid the group’s unprecedented grip on the broader market.
Mutual fund managers have been paring back holdings of Nvidia Corp., Apple Inc. and Broadcom Inc. in the past three months, which reduced their technology exposure to 30%, almost 5 percentage points below the group’s weight in the S&P 500 Index. That’s their biggest relative underweight in five years, data compiled by Seaport Research Partners show.
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