Ray Dalio’s Bridgewater Dumps Nvidia, Backs Applied Materials as Hedge Funds Turn Away From the ‘Magnificent Seven’
Bridgewater Associates cut its Nvidia stake by nearly 65% and more than halved its Alphabet holdings in Q3, according to new 13F filings. The hedge fund increased positions in Applied Materials and software firms instead. Regulatory disclosures show other major funds also reducing exposure to the Magnificent Seven as U.S. markets approach record highs.