Institutions Rotate Into Semis, Retail, and Industrials
Second-quarter 13F positioning added $92.5 million to semiconductors and $51.8 million to retail and consumer names, and trimmed software and cloud by $36.6 million.
Coverage: 5 of 552 companies in this theme (SWK, HON, LEVI, KLAC, ABT) — a sample, not the full set.
Semiconductors led the second-quarter institutional rotation with $92.5 million of net additions across 25 issuers and 48 event rows from 11 filers. KLA Corp (KLAC) accounted for $42.0 million of that net increase, the largest single-issuer concentration in the bucket.
Retail & Consumer added $51.8 million across 62 issuers and 84 event rows from 10 filers. Levi Strauss & Co (LEVI) carried $60.9 million of net additions from a single filer. Industrials & Manufacturing produced $18.8 million of net rotation across 127 issuers and 174 event rows from 12 filers. Stanley Black & Decker, Inc. (SWK) contributed $122.5 million of net additions from two filers. Honeywell International Inc (HON) recorded $127.3 million of net decreases from eight filers.
Software & Cloud recorded $36.6 million of net decreases across 63 issuers and 92 event rows from seven filers. Verisk Analytics, Inc. (VRSK) accounted for $15.3 million of absolute rotation in that bucket. Financial Services recorded $35.7 million of net decreases across 71 issuers and 97 event rows from 11 filers. Intercontinental Exchange, Inc. (ICE) accounted for $23.8 million of absolute rotation there.
Materials & Chemicals added $11.7 million across 40 issuers and 53 event rows from nine filers. Banking added $11.3 million across 27 issuers and 33 event rows from seven filers. Energy added $9.4 million across 33 issuers and 41 event rows from seven filers.
Communications & Media recorded $8.3 million of net decreases across 19 issuers and 25 event rows from eight filers. Real Estate recorded $6.2 million of net decreases across 41 issuers and 46 event rows from eight filers. Hardware & Devices recorded $5.1 million of net decreases across 21 issuers and 27 event rows from eight filers. Utilities recorded $29,056 of net decreases across 23 issuers and 24 event rows from four filers.
The quarter's net additions were concentrated in semiconductors, retail and consumer, and industrials. Software & Cloud and Financial Services absorbed the largest net decreases.