The Magnificent Seven are down 3.7% in 2026 while the S&P 500's other 493 stocks are up 12.9%, a gap of nearly 17 points.

The Mag-7 just posted one of its biggest down days in years. Yet hedge fund positioning has already been reset to near multi-year lows.

The Magnificent Seven are down 3.7% in 2026 while the S&P 500's other 493 stocks are up 12.9%, a gap of nearly 17 points.