GCQ Fund Buys A$200M of Software Stocks Including Intuit After Selloff
GCQ Funds Management acquired roughly A$200 million (US$143 million) of software stocks, including Intuit, Microsoft and SAP, after selling top-performing luxury shares. The US software sector has since climbed for three sessions following last week’s AI-triggered selloff sparked by a Citrini Research disruption scenario.
1. GCQ’s Software Stock Acquisition
Sydney-based GCQ Funds Management purchased approximately A$200 million (US$143 million) of beaten-down tech shares in late February, reinvesting proceeds from sales of European luxury equities into software names like Intuit, Microsoft and SAP, as part of a strategy to capitalize on the sector's valuation trough.
2. AI-Triggered Selloff as Entry Point
The fund identified Monday’s slump—fueled by a hypothetical disruption scenario from research firm Citrini—as a market nadir, using the dip driven by AI adoption concerns to add to its software positions at discounted prices.
3. Post-Dip Rebound in Software Stocks
Following the selloff, US software equities have rallied for three consecutive sessions, reflecting renewed investor confidence in companies aggressively integrating AI capabilities into their offerings.
4. Fund Performance and Inflows
Despite underperformance in some holdings—such as a 70% drop in Hemnet from its 2025 peak—GCQ is seeing record monthly inflows, drawing A$50 million in February and doubling down on both software and property portal investments.