#美国科技基金净流

$Recently, the capital flow of U.S. technology funds has shown sharp differentiation, presenting a pattern of short-term inflows and structural outflows coexisting. As of early February 2026, the technology sector first experienced significant withdrawals, with a net outflow of $2.34 billion in a single week, marking a recent high; subsequently, there was a significant inflow of approximately $6 billion in the largest single week over the past two months, indicating notable volatility. Hedge funds have net sold U.S. stocks for four consecutive weeks, with the information technology sector being heavily impacted by sell-offs, resulting in the second-largest outflow in five years, where software stocks accounted for about 75% of the net sell-off, and semiconductors facing pressure simultaneously. Funds are shifting towards cyclical and defensive sectors such as industrials and metals mining, with leading tech stocks relatively resilient while mid- and small-cap growth stocks are experiencing significant losses. The market logic is shifting from a concentrated embrace of technology to rebalancing, compounded by AI competition, valuation disturbances, and policy expectations, leading to continued high volatility in technology fund capital flows, with accelerated internal rotation within the sector.