The latest 13F filings reveal a clear shift across top hedge funds:
Taking profit from megacap tech & reallocating into software, payments, and diversified plays amid concerns over stretched valuations.
🔍 Key Highlights
Megacap trimming continued across the “Magnificent Seven”:
- Nvidia, Amazon, Alphabet, Meta saw reductions from major funds
- Reflects cooling AI momentum and rising macro uncertainty
🏦 Major Hedge Fund Moves (Q3 Breakdown)
Bridgewater Associates
- Nvidia: –66% (down to 2.5M shares)
- Alphabet: –50%+ (2.65M shares)
- Amazon: –9.6%
- Broadcom: –27%
- ➕ Rotated into software & payments: Adobe, Dynatrace, Etsy
- CIOs warn of rising risks to market stability
- AUM: $92.1B
Discovery Capital
- New positions: Alphabet, Cleveland-Cliffs, Cigna, Elevance Health
- Stronger pivot into Latin America exposure
- Exited U.S. E&P names (EQT, Antero, Range Resources)
- New bet: Baker Hughes
- Doubled down on Ramaco Resources (critical minerals)
- Trimmed America Movil by 11.5%
Balyasny Asset Management
- Boosted Apple holdings several-fold
- Cut Amazon –41%
- Increased positions in AIG, Allstate
- New stake: American Tower
Tiger Global
- Meta: –62.6% (now 2.8M shares ≈ $2.1B)
- Exited Ely Lilly, Novo Nordisk, CrowdStrike
- New positions: Netflix, Klarna
Coatue Management
- Nvidia: –14.1% (to 9.9M shares)
- Reduced: Tesla, Amazon, CoreWeave, Arm
- Exited: Eli Lilly, Philip Morris
- Increased: Microsoft, Meta, Alibaba
🧭 What This Rotation Signals
- Profit-taking after an AI-driven surge
- More balanced exposure beyond megacap dominance
- Strategic tilt toward software, payments, insurance
- Growing caution ahead of potential macro volatility
Markets remain resilient — but positioning clearly shows more selective tech exposure and stronger preference for diversified, fundamental-driven sectors.