Who Is Buying Applied Materials? Hedge Fund Activity in 2026
See which hedge funds are buying, selling, or holding Applied Materials (AMAT) based on latest 13F filings. 7 funds buying, institutional value $40B.
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Who Is Buying Applied Materials? Hedge Fund Activity in 2026
Applied Materials (AMAT) is at the center of one of the most complex institutional debates in the semiconductor equipment space. The latest 13F filings reveal a closely contested landscape — 7 funds buying versus 8 selling — but the story goes deeper than the headline numbers. While the selling count narrowly exceeds buying, several of the world's top-performing hedge funds are aggressively building positions. Meanwhile, two prominent funds have completely exited.
With AMAT trading around $348.63 and 20 active institutional funds tracked, the semiconductor equipment maker commands enormous institutional attention. Let's break down the battle lines.
Quick Answer
Across the funds we read directly from SEC filings, the largest Applied Materials position in the Q2 2026 13Fs (period ending 30 June 2026) is Tiger Global Management at $1.18B (1,632,210 shares). Measured against the size of each filer's book rather than in dollars, the most concentrated holder is Tiger Global Management, where Applied Materials is 4.9% of everything they report. Every figure here is aggregated by CUSIP from the filer's own information table with put/call rows excluded — a 13F lists options beside shares, and adding them together is what produces the inflated stakes quoted elsewhere. Filings lag roughly 45 days: this is positioning as of 30 June 2026, not today, and not investment advice.
Key Stats at a Glance
- 7 funds buying | 8 funds selling | 5 holding steady
- 20 active institutional funds tracked
- Current price: ~$348.63 Index managers such as Vanguard, BlackRock and State Street hold the largest raw positions in almost every large-cap name, because they track the index rather than pick the stock. Among the active filers we read directly from EDGAR, the largest position in the Q2 2026 filings is Tiger Global Management at $1.18B (1,632,210 shares).
With 20 active funds, AMAT has the broadest institutional coverage of any stock in this batch — a testament to its central role in the semiconductor supply chain.
Who holds Applied Materials, and how much it matters to them
Read from each filer's Q2 2026 information table (period ending 30 June 2026).
| Fund | Position | Shares | Share of the fund's 13F book |
|---|---|---|---|
| Tiger Global Management | $1.18B | 1,632,210 | 4.9% of $23.98B |
| Citadel Advisors | $782M | 1,080,951 | 0.5% of $171.84B |
| Millennium Management | $231M | 319,450 | 0.2% of $142.92B |
| Bridgewater Associates | $211M | 291,426 | 0.9% of $24.38B |
The last column is the one worth reading. A multi-strategy fund reporting a $100B+ book can hold a large dollar amount of Applied Materials that means almost nothing to it, while a concentrated fund holding less in dollars may have several percent of its entire book in the name. Rankings by dollar value hide exactly that difference.
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Comparing each filer's Q1 2026 table with its Q2 2026 one, by share count — the change is what shows conviction, not the size of the position.
| Fund | Q1 2026 shares | Q2 2026 shares | Change |
|---|---|---|---|
| Millennium Management | 888,907 | 319,450 | -64% |
| Bridgewater Associates | 559,918 | 291,426 | -48% |
| Citadel Advisors | 1,290,552 | 1,080,951 | -16% |
| Tiger Global Management | 1,656,900 | 1,632,210 | -1% |
A fund absent from this table reported no Applied Materials position in either quarter.
Navigating the AMAT Institutional Split
Applied Materials' 7-to-8 buying-to-selling ratio is misleading on the surface. While more funds are selling than buying, the buying side is deploying dramatically more capital. Coatue's $2.1 billion alone exceeds the combined reduction from most sellers. In institutional analysis, dollar-weighted flow often matters more than fund-count ratios.
The double exit from Soros and Balyasny deserves monitoring in future quarters. If other funds follow them to the exit, it could signal the beginning of a broader de-risking in semiconductor equipment names. However, if the exits remain isolated while Coatue and Citadel continue building, it would confirm that the departures were idiosyncratic rather than indicative of a broader trend.
With 20 active funds tracking AMAT — the widest institutional coverage in this batch — Applied Materials remains firmly in the institutional spotlight. The breadth of coverage ensures that any significant change in the company's outlook will produce rapid and visible institutional positioning shifts, making 13F data particularly valuable for tracking sentiment on this name.
Track Applied Materials Institutional Activity
Track AMAT institutional moves in real-time with Freenance Smart Money — we track 35 funds with $21.4T total AUM across 77,111 positions. See who's buying and selling at app.freenance.io/smart-money/ticker/AMAT.
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FAQ
Which hedge funds are top holders of Applied Materials (AMAT)?
Index managers such as Vanguard, BlackRock and State Street hold the largest raw positions in almost every large-cap name, because they track the index rather than pick the stock. Among the active filers we read directly from EDGAR, the largest position in the Q2 2026 filings is Tiger Global Management at $1.18B (1,632,210 shares).
What does institutional positioning suggest about AMAT sentiment?
The 7-to-8 buying-to-selling ratio is slightly tilted toward sellers by count, but dollar-weighted flows favor the buy side thanks to Coatue's and Citadel's large commitments. Investors monitoring this split often interpret it as constructive sentiment from concentrated active capital, set against more cautious positioning from a wider group of trimmers.
How does 13F filing timing affect this view of Applied Materials?
Because 13F data lags by up to 45 days after quarter-end, AMAT positions reflect the prior reporting period and may not capture the latest reactions to semiconductor capex updates or export-control headlines. Analysts typically pair 13F flows with current earnings guidance and order-backlog commentary to get a more timely picture.
What are the key risks reflected in AMAT's institutional flows?
Funds trimming or fully exiting — including Soros and Balyasny — appear to be weighing semiconductor cycle peak concerns, valuation expansion at current prices, and ongoing China export-restriction uncertainty. Bulls counter with structural drivers: AI-driven fab buildouts, CHIPS-style reshoring incentives, and the shift to advanced packaging.
How does Applied Materials' institutional activity compare to other semicap peers?
With 20 tracked funds active in AMAT, it has one of the widest institutional coverage profiles in semiconductor equipment, exceeding many peer names. Compared to other semicap firms, AMAT's flows show a more balanced bull-bear split, suggesting the market sees it as a core, broadly tracked proxy for the semiconductor equipment cycle.