Sector rotation
Where hedge funds put their money, sector by sector, every quarter since Q1 2022 - 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.
- Most bought
- Financial Services +$1.2B
- Most sold
- Technology −$2.95B
- Biggest weight gain
- Energy +2.9 pts
- Largest sector
- Technology 26.40%
Net buying by sector
Q3 2026 · against Q2 2026- Financial Services+$1.2B2 buying3 selling
- Consumer Cyclical+$1.01B1 buying4 selling
- Industrials+$876.73M4 buying1 selling
- Consumer Defensive+$657.01M2 buying2 selling
- Basic Materials+$448.26M1 buying4 selling
- Real Estate+$371.4M4 buying1 selling
- Communication Services+$233.14M2 buying3 selling
- Utilities+$201.95M4 buying1 selling
- Other+$45.3M5 buying0 selling
- Energy−$310.93M1 buying4 selling
- Healthcare−$702.21M1 buying4 selling
- Technology−$2.95B0 buying5 selling
Sector weights by quarter
share of all hedge fund single-stock dollars| Sector | vs Q2 ’26 | vs a year | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Technology | 21.9 | 20.4 | 21.1 | 20.0 | 21.0 | 23.4 | 22.6 | 24.1 | 24.5 | 25.6 | 24.1 | 24.9 | 23.3 | 24.8 | 26.5 | 26.1 | 25.5 | 29.8 | 26.4 | −3.4 pts | −0.1 pts |
| Consumer Cyclical | 15.1 | 13.7 | 14.2 | 13.5 | 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 | 9.7 | −1.0 pts | −3.2 pts |
| Healthcare | 13.5 | 14.5 | 14.2 | 15.3 | 14.5 | 13.5 | 13.6 | 12.9 | 12.4 | 12.5 | 12.5 | 11.8 | 12.4 | 11.7 | 10.9 | 11.6 | 11.3 | 11.2 | 10.3 | −0.9 pts | −0.6 pts |
| Financial Services | 12.1 | 12.6 | 12.5 | 12.8 | 11.8 | 11.3 | 11.7 | 12.3 | 12.9 | 12.7 | 13.2 | 13.6 | 13.8 | 13.7 | 13.5 | 13.2 | 13.1 | 12.6 | 15.1 | +2.6 pts | +1.7 pts |
| Industrials | 8.7 | 8.9 | 8.9 | 9.8 | 10.3 | 10.9 | 10.5 | 10.1 | 10.3 | 10.4 | 10.9 | 10.6 | 10.7 | 11.1 | 10.8 | 11.1 | 12.1 | 12.8 | 11.4 | −1.3 pts | +0.7 pts |
| Communication Services | 8.6 | 8.0 | 7.2 | 6.6 | 7.3 | 7.5 | 8.0 | 8.0 | 7.5 | 7.7 | 7.9 | 8.6 | 8.3 | 8.7 | 8.8 | 8.1 | 7.0 | 6.6 | 6.3 | −0.3 pts | −2.6 pts |
| Energy | 6.1 | 6.9 | 7.0 | 7.2 | 6.7 | 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 | 7.4 | +2.9 pts | +3.3 pts |
| Consumer Defensive | 5.1 | 5.9 | 6.0 | 5.8 | 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 | 4.6 | +0.9 pts | +0.2 pts |
| Basic Materials | 3.6 | 3.5 | 3.7 | 3.7 | 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 | 3.8 | +0.4 pts | +0.4 pts |
| Real Estate | 3.2 | 3.3 | 3.0 | 3.0 | 2.9 | 2.8 | 2.7 | 2.9 | 2.7 | 2.5 | 2.9 | 2.5 | 2.9 | 2.5 | 2.5 | 2.4 | 2.6 | 2.5 | 3.4 | +0.9 pts | +0.9 pts |
| Utilities | 1.9 | 2.1 | 2.2 | 2.2 | 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 | 1.4 | −0.7 pts | −0.8 pts |
| Other | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | −0.1 pts | −0.0 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 99.85% of the Q3 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.