Institutional investors dump Nasdaq futures at record pace
Goldman Sachs data shows institutions sold $21.6bn of Nasdaq futures in the week to August 4, the largest weekly sale on record, with positioning turning negative for the first time since May 2025.
Institutional investors pulled back sharply from US tech equity exposure, according to Goldman Sachs data cited by The Kobeissi Letter.
Total institutional selling in Nasdaq futures reached $21.6bn in the week ending August 4, the largest weekly sale on record. Short sales accounted for 72% of the total, indicating that bearish positioning drove the move.
Hedge funds sold $11.9bn over the period, while asset managers sold $7.4bn. Combined institutional positioning fell to -$5bn, turning negative for the first time since May 2025. That compares with a level as high as +$54bn in October 2025.
The activity suggests institutions are using market strength to reduce risk, leaving aggregate Nasdaq futures positioning in short territory.
Source: The Kobeissi Letter