A portfolio manager says investors are looking overseas as Magnificent Seven worries grow. Here are the stocks and sectors he favors

Traders work on the floor of the New York Stock Exchange during morning trading on July 24, 2026 in New York City. Michael M. Santiago | Getty ImagesInvestors are becoming more willing to increase their exposure to international equities, as concerns over the dominance of the "Magnificent Seven" technology giants encourage diversification away from U.S. stocks, Janus Henderson Investors' Julian McManus told CNBC."There's definitely a move to explore more outside the U.S.," the portfolio manager on Janus Henderson Investors' Global Alpha Equity Team said in an exclusive interview. The firm reported about $480 billion in assets under management as of March 31.The shift marks a stark contrast with two years ago, when U.S. financial advisers were more reluctant to consider overseas markets after a decade in which American stocks consistently outperformed international peers.The MSCI ACWI ex-US index has risen over 8% year-to-date, compared to the S&P 500's gains of 6.8%, data from LSEG showed.McManus said investors had become heavily concentrated in a handful of large-cap U.S. technology stocks, leaving portfolios vulnerable if leadership in those names faltered."The Mag Seven is n...