Hedge funds reduce exposure to major U.S. technology stocks ahead of SpaceX’s initial public offering, according to data compiled by JPMorgan. The reports say funds cut positions in several of the largest “big tech” names and, in some cases, increase bearish bets as they adjust portfolios around the timing of SpaceX’s market debut. The JPMorgan data referenced by both outlets indicates the selling is broader than a single company, targeting a range of large technology holdings rather than only one stock.
Both sources place the activity in the period leading up to SpaceX starting trading on Friday, suggesting the repositioning occurs shortly before the IPO begins. While the reporting focuses on hedge-fund behavior and the specific tech stocks involved, it does not provide details on the size of the reduction for each holding or the full list of companies trimmed. The overall picture is that some hedge funds take profit or reduce risk in large technology stocks to create liquidity or manage portfolio exposure as SpaceX’s shares begin trading.
