# Why Investors Are Selling Their US Tech Holdings, and What Are They Buying Instead?

Page: https://stenobird.com/podcast/the-art-of-investing-7404303/why-investors-are-selling-their-us-tech-holdings-and-what-are-they-buying-instead
Text version: https://stenobird.com/podcast/the-art-of-investing-7404303/why-investors-are-selling-their-us-tech-holdings-and-what-are-they-buying-instead.md
Podcast: [The Art of Investing](https://stenobird.com/podcast/the-art-of-investing-7404303)
Published: 2026-02-13T14:08:00+00:00
Episode link: https://share.transistor.fm/s/9e313a7e
Audio file: https://pdrl.fm/7c6e9d/media.transistor.fm/9e313a7e/aec9e224.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-art-of-investing-7404303/episodes/why-investors-are-selling-their-us-tech-holdings-and-what-are-they-buying-instead
Duration seconds: 3969

## Resource

This week on The Art of Investing, Rich McDonald, Mark “Spice” Holden and Chris “CJ” Fellingham return after an intriguing week in markets to debate a major shift in positioning.With Japan surging, emerging markets breaking higher, software stocks wobbling and AI disruption accelerating, the team asks a big question: Are we rotating from tech into old-world value, and is private equity the next risk?Expect macro insight, portfolio reshuffling, and a full breakdown of where capital is moving next. This Week’s Highlights🇯🇵 Japan BreakoutA landslide election victory fuels fiscal stimulus hopes. The Nikkei jumps nearly 9% on the week, lifting the portfolio sharply.💻 Software ShockA small AI tax tool sparks a broader sell-off across software, wealth management and private equity-linked names. Is this the start of margin compression?🏦 The 100-Year Bond WarningAlphabet issues a 100-year bond, massively oversubscribed. CJ calls it a red flag for complacency in credit markets.🪙 Crypto Contrarian Signal?Bitcoin weakens again, but ultra-bearish headlines may suggest positioning is stretched.🌍 Europe & Emerging Markets StrengthEuro Stoxx indices hit highs as investors rotate away from expensive US tech into industrial and value-heavy regions.🇬🇧 UK Politics & GiltsPolitical uncertainty continues, reinforcing caution on long-dated UK bonds. Portfolio Snapshot: Week 26Weekly performance: +1.62%Total return since inception: +16.86% Top Performers🥇 iShares Nikkei 225 ETF: +8.5% 🥈 BlackRock World Mining Trust: +5.2% 🥉 iShares Core MSCI EM IMI ETF: +3.2% Underperformers📉 WisdomTree Copper ETF: +0.3% 📉 iShares UK Gilts 0–5yr ETF: +0.3% 📉 Cash: +0.1%Despite broad gains across equities, Japan and mining stocks drove the bulk of weekly performance, while defensive assets lagged as ri…

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