Ray Dalio-led hedge fund Bridgewater Associates sold its positions in the topmost AI-linked stock along with other big technology companies, while buying shares of other AI-linked companies in the third quarter of the current fiscal as per its 13F filings.
What Happened: Bridgewater pared its stake in Nvidia Corp. (NASDAQ:NVDA), Alphabet Inc. (NASDAQ:GOOGL), Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), and Johnson & Johnson (NYSE:JNJ), among other companies.
| Company |
Holdings (as of Jun. 30) (in million) |
Holdings (as of Sept. 30) (in million) |
Change (in million) | Stock Performance (YTD) |
| Nvidia | 6.556 | 4.754 | -1.8 | 188% |
| Alphabet | 4.54 | 4.37 | -0.17 | 24% |
| Microsoft | 1.09 | 0.870 | -0.22 | 16% |
| Amazon | 2.64 | 1.41 | -1.23 | 41% |
| Johnson & Johnson | 3.204 | 1.470 | -1.73 | -3.2% |
On the other hand, the hedge fund bought Super Micro Computer Inc. (NASDAQ:SMCI), Palantir Technologies Inc. (NASDAQ:PLTR), Advanced Micro Devices Inc. (NASDAQ:AMD) along with Apple Inc. (NASDAQ:AAPL), Broadcom Inc. (NASDAQ:AVGO) and SPDR S&P 500 ETF Trust (NYSE:SPY).
| Company | Holdings (as of Jun. 30) (in million) | Holdings (as of Sept. 30) (in million) | Change (in million) | Stock Performance (YTD) |
| Broadcom | 0.024 | 0.955 | 0.931 | 53% |
| Apple | 0.469 | 1.031 | 0.562 | 29% |
| Super Micro Computer | 0.015 | 0.161 | 0.146 | 47% |
| Palantir Technologies | 0.086 | 0.523 | 0.437 | 300% |
| Advanced Micro Devices | 1.099 | 1.464 | 0.365 | 2.5% |
Why It Matters: Big tech saw heavy selling at Bridgewater in the third quarter, while it increased its stake in companies like Broadcom by 3,806% to a total value of $164.81 million.
Bridgewater sold 27% or 1.8 million shares of Nvidia reducing its value in its portfolio by $232.59 million. It also sold $100.697 million worth of Google-parent Alphabet’s stock.
The hedge fund further sold 220.169 million shares of Microsoft and 1.233 million shares of Amazon.
In the same period, Bridgewater increased its stake in Super Micro Computer by 921%, Palantir Tech by 507%, and Advanced Micro Devices by 35%.
The hedge fund founded by Ray Dalio held 1.031 million shares of Apple worth $240.4 million. It also added $92.62 million worth of SPDR S&P 500 ETF increasing the holding by 18% in the exchange-traded fund.
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Photo courtesy: World Economic Forum On Flickr
