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Subhasree Kar

Bridgewater Associates Is Trading the Software Apocalypse as It Sells Workday, Salesforce, Other Key SaaS Stocks

Workday Salesforce Bridgewater Bridgewater Associates CRM GoDaddy NOW ServiceNow GDDY WDAY

For years, enterprise software was one of Wall Street’s safest growth trades, powered by sticky subscriptions, high margins, and the belief that businesses would keep spending on digital transformation no matter the economic backdrop. But now, one of the world’s most influential hedge funds appears to be questioning that narrative.

Bridgewater Associates, founded by Ray Dalio, has exited major positions in several high-profile SaaS names, including Salesforce (CRM), Workday (WDAY), ServiceNow (NOW), and GoDaddy (GDDY), according to its latest 13F filing. At the same time, the fund sharply increased exposure to artificial intelligence (AI) infrastructure and semiconductor plays, signaling a potential shift away from application-layer software and toward the hardware powering the AI boom.

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