Betting on Tech Giants: Bridgewater significantly increased its holdings in NVIDIA in the second quarter, adding positions in Alphabet and Microsoft, Meta
The world's largest hedge fund, Bridgewater, significantly increased its holdings in NVIDIA in the second quarter of 2023, with a total of 7.23 million shares, an increase of over 154%. At the same time, Bridgewater also added positions in Alphabet, Microsoft, and Meta, and newly invested in chip design company Arm, among other stocks. Bridgewater completely exited positions in Alibaba and Chevron. The fund's holdings report shows that Bridgewater's bets on tech giants have significantly increased
The position report shows that Bridgewater Associates, one of the world's largest hedge funds, made significant bets on American tech giants in the second quarter of this year, notably increasing its holdings in the currently highest market capitalization stock, NVIDIA.
Bridgewater also added to its positions in three other tech giants that are already heavily weighted in the fund: Alphabet, Microsoft, and Meta. At the same time, Bridgewater completely exited its positions in Chinese concept stocks like Alibaba and American energy giant Chevron, while slightly increasing its holdings in chip stock Arm and others.
On August 13, Wednesday, after the U.S. stock market closed, Bridgewater submitted its regulatory filing 13F to the U.S. Securities and Exchange Commission (SEC), revealing that in the second quarter, Bridgewater increased its holdings in NVIDIA (NVDA) by nearly 4.39 million shares, bringing its total holdings to 7.23 million shares, an increase of over 154% compared to the end of the first quarter.
In the second quarter, Bridgewater initiated a position in chip design company Arm (ARM) with nearly 474,000 shares, accounting for 0.31% of Bridgewater's total holdings.
Bridgewater also initiated positions in financial and tax software company Intuit (INTU) with nearly 59,000 shares, energy stock EQT (EQT) with 787,000 shares, Uber's competitor Lyft (LYFT) with nearly 2.479 million shares, and beauty retailer Ulta Beauty (ULTA) with over 58,000 shares, which accounted for only 0.19%, 0.19%, 0.16%, and 0.11% of the total holdings, respectively.
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