Hedge Funds, Quants, and Pensions Are Buying Tech Again

A hedge fund, a quant desk, and a state pension all bought tech in the same window.

September 11, 2026

Fresh filings show a growth hedge fund, a quant shop, and a state pension all building new tech positions in the same quarter.

The kind of names they picked tells you where allocators think earnings power actually holds up.

Risk Signal (Sponsored)

Whitney Tilson shocked the nation on 60 Minutes when he accused a major company of poisoning its customers.

The investigation won an Emmy and the stock fell nearly 80%.

(He also called the housing crisis and the collapse of Bear Stearns and Lehman Brothers).

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He says a dangerous pattern is forming, and most Americans have no idea how exposed they really are.

For the full presentation, go here.

Automation

Meta Builds an AI Agent That Can Actually Get Things Done

Meta Platforms (NASDAQ: META) is expanding personal AI with Muse, an agent designed to complete tasks across apps rather than simply respond to questions.

Muse can send emails, manage calendar activity, fill out forms, make purchases, and handle travel-related tasks from a single AI interface.

The agent can also work through longer requests that require several steps and different services. Users can give Muse a goal, then let it move through the required actions instead of manually opening and controlling every app.

A Secure Computer Runs Behind the Agent

Muse operates inside a dedicated virtual environment called Muse Secure VM. This protected workspace gives the agent its own browser and controlled computing space to interact with websites and connected services.

Meta’s Muse Spark model handles the reasoning behind those actions, while additional safeguards monitor what the agent is doing. Users remain in control of which apps, accounts, and information Muse can access.

WhatsApp Becomes an Agent Interface

Meta is also bringing Muse into WhatsApp, giving the agent a familiar place to receive instructions and complete tasks. A conversation can become the starting point for actions that continue across calendars, websites, email, and other connected tools.

Muse marks a larger shift in Meta’s AI software strategy. Instead of keeping AI inside a chatbot, Meta is building an agent that can use digital tools, cross application boundaries, and carry a task through to completion.

Enterprise Hardware

IBM Extends Its Quantum Infrastructure Into Europe

IBM (NYSE: IBM) is bringing Quantum System Two to ETH Zurich, creating Switzerland’s first installation of the company’s latest quantum computing platform.

The system will run IBM’s Nighthawk processor and give researchers direct access to advanced quantum hardware for science, engineering, and industrial research.

Unlike remote cloud access alone, a dedicated installation gives institutions a local platform to test quantum algorithms, develop software, and study how quantum systems can work alongside traditional computing.

Nighthawk Powers the Next Research Cycle

Nighthawk is designed to support more complex quantum workloads with improved connectivity between qubits. Better connections let quantum circuits run larger calculations with fewer routing steps, reducing errors and improving efficiency.

IBM is also building the surrounding software and control systems needed to operate the processor as part of a complete computing environment.

Researchers can work across quantum and classical resources instead of treating the machine as an isolated experiment.

Switzerland Adds a Quantum Computing Hub

The new system will anchor a broader innovation center connecting universities, researchers, and industry teams.

Projects can explore areas such as materials science, optimization, chemistry, and other problems that conventional computers struggle to handle efficiently.

IBM is extending its quantum platform through dedicated installations rather than limiting access to centralized systems.

The Swiss deployment gives Quantum System Two another real-world environment where hardware, software, and research can develop together.

Gold Before Change (Sponsored)

In 1971, one Sunday-night announcement changed the dollar almost overnight.

Today, investors are again asking what inflation, policy shifts, and rising central-bank gold demand could mean for retirement savings.

This free guide explains why gold is back in focus, how physical gold can fit into certain retirement strategies, and what some investors are doing to prepare before the next major monetary shift.

See how investors are positioning retirement savings for the next gold move.

*Reagan Gold Group does not provide financial, legal, or tax advice. This information is for educational purposes only and should not be considered investment advice. All investments carry risk, including loss of principal. Past performance is not indicative of future results. Consult your licensed financial advisor before making investment decisions.

Smartphones

Apple Redesigns iOS for Its First Foldable Phone

Apple (NASDAQ: AAPL) is introducing the iPhone Duo, its first foldable smartphone and one of the biggest hardware changes to the iPhone in years.

The device opens into a 7.6-inch inner display while keeping a 5.4-inch outer screen for regular phone use.

The larger display can keep two apps open at once, giving iOS more room for multitasking. Apple has also added Apple Pencil support and Touch ID inside the side button.

A20 Pro Handles Two Screens at Once

The iPhone Duo runs on Apple’s A20 Pro processor, built using a 2-nanometer manufacturing process. Apple pairs the chip with vapor-chamber cooling to manage heat while supporting graphics, on-device AI, and heavier multitasking across the foldable display.

A dedicated display system coordinates the inner and outer screens, while Apple’s C2 modem handles cellular connectivity. Dual batteries are arranged around the folding design to fit the new internal layout.

iOS Learns to Work With More Screen

Apple has adapted iOS 27 for the wider canvas rather than simply stretching the standard iPhone interface. Apps can sit side by side, giving users more space for browsing, messaging, documents, and media without switching constantly between screens.

The Duo marks Apple’s first major attempt to rethink how iPhone hardware and software work together around a flexible display. Foldable technology is becoming a full platform change, not just a different screen shape.

Poll: Apple's services segment — App Store, Apple Pay, iCloud, Apple TV+ — is now generating over $100 billion annually. Is it sustainable or is it one regulatory ruling away from a collapse?

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Recent Tech Movers

Gaming and 3D Software
Unity Software Gets a Nine-Figure Hedge Fund Anchor

Unity Software (NYSE: U) just picked up Atreides Management as a top new backer. Atreides Management LP acquired a new stake in Unity Software in the second quarter valued at approximately $292,826,000, making U one of the hedge fund's largest new tech bets.

In the same filing window, Duquesne Family Office LLC acquired a new position in Unity Software worth approximately $42,932,000.

When a growth-focused hedge fund sizes into a nine-figure position in one shot, you pay attention. The 3D engine and mobile ad platform story is still very much alive.

Cloud SaaS
Klaviyo Sees Quant Money Load Up

Klaviyo (NYSE: KVYO) saw Squarepoint Ops file for 895,485 shares this week. Institutional ownership sits above 45%.

KVYO is a post-IPO SaaS name that pulled back hard in Q2 and is starting to look like the group has stopped selling. Marketing automation spend held up through the last two soft-tape quarters. That's more than you can say for a lot of SaaS peers.

The numbers behind the buying hold up. Second quarter revenue came in at $370.6 million, up 26% year over year, and full-year guidance moved to $1.526 billion to $1.534 billion, about 24% growth.

Non-GAAP operating income guidance was cut to $212 million to $218 million, so margin, not demand, is the open question here.

Cybersecurity
Zscaler Gets Pension Fund Money

Zscaler (NASDAQ: ZS) just landed a new position from Virginia Retirement Systems. State pension funds don't chase; they accumulate.

When one initiates a fresh position in a $30B+ cybersecurity name during a risk-off week, read it as a signal about where allocators think earnings power is defensible.

ZS remains the cleanest zero-trust pure-play, and enterprise budgets aren't cutting security first.

Fiscal fourth-quarter revenue rose 25% to $898.2 million, and fiscal 2026 finished at $3.3 billion, also up 25%, with free cash flow of $779.1 million.

Zscaler followed that on September 10 with an Agentic SOC launch aimed at AI-driven threats, the product answer to the same budget question the pension is betting on.

Parallel cash system (Sponsored)

The IMF just quietly flagged a US debt trigger that matches the exact setup of Greece's economic collapse.

A former Wall Street banker is now urging readers to move their cash into a "parallel" system completely outside the Fed's control.

Click here to see how to build this financial firewall before the math officially breaks.

The Trade Desk Exits the S&P 500 September 21

September 21 is the date to watch. The Trade Desk (NASDAQ: TTD) drops from the S&P 500 and joins the S&P SmallCap 600 that day, after its market cap has fallen to roughly $6.5 billion.

If you hold TTD through an index fund, expect a forced rebalance across every one still carrying the name. This hits in days, not quarters.

Shares are changing hands roughly 75% below the 52-week high, and off about 90% from a 2024 peak near prior triple-digit levels, with a 52-week range of $12.83 to $56.39. Recently downgraded, out of favor, and volatile.

Standard rules apply. But if the index-driven selling gets absorbed and traction from the recent Kokai Zuma release, the platform's biggest update in three years, centered on agentic AI workflow improvements and automated audience building, lands in the Q3 print, the re-rating window is short and sharp.

This is speculative sizing territory, and the 52-week low near $12.83 is the line that matters if the selling does not get absorbed.

Everything Else

  • 📊 A blend of dividend powerhouses and high-growth names is shaping up as the pick for 2026, built to pay steadily while still chasing real upside. See the 10 stocks built for both.

  • 🔗 OpenAI adds Samsung Foundry to its custom silicon program, ending its TSMC-only risk. Tech Times

  • 💾 Amazon triples its Nvidia GPU orders to roughly 3 million chips for 2027 and 2028 delivery. Insider Monkey

  • 🧠 DeepSeek's cheaper model trims KV cache and knocks memory makers. Business Times

  • 🔒 CrowdStrike tells Goldman's tech conference that AI is reshaping security faster than firms expected. Investing.com

  • ☁️ Analog Devices buys Alif Semiconductor for $1.35 billion in cash. DQ India

That's our coverage for today; thanks for reading! Reply to this email with feedback or any tech stocks you want me to check out.

Best Regards,
—Noah Zelvis
Tech Stock Insider