I’ve been looking at the results of a recent 13F filings search, and a pretty strong pattern seems to be emerging. It looks like a significant number of major funds are doubling down and rotating heavily into the Technology sector. We’re seeing increased allocations in big tech, seemingly at the expense of other sectors like Healthcare and Financials which have seen capital outflows.

This has me wondering: is this a sign of a major conviction in the future of tech, perhaps driven by all the AI hype, or are we witnessing the setup for a new bubble? It feels like a massive consensus trade.