截至第四季度末，桥水持仓股的总市值为218亿美元，相较于前一季度的177亿美元环比上涨23.2%。桥水在第四季度新建仓83个标的，加仓262个标的，清仓165个标的，减持343个标的。① The world's largest hedge fund, Bridgewater, disclosed a substantial Shareholding reduction in the "Six Giants" of US stocks in the fourth quarter of 2024, which may indicate a shift in its perspective on the prospects of the AI boom in US stocks; ② Bridgewater established a new Hold Position in Tesla in the fourth quarter, and increased its stake by over 0.33 million shares of AMD stocks.
On February 14, according to financial media (edited by Liu Rui), the US Securities and Exchange Commission (SEC) disclosed that the world's largest hedge fund, Bridgewater Associates, submitted the Form 13F for the fourth quarter ending December 30, 2024.
It is noteworthy that Bridgewater significantly reduced its holdings in the "Six Giants" of US stocks, which have dominated the rise of US stocks over the past two years, likely serving as a warning signal for bulls in US technology stocks.
Bridgewater reduces its Shareholding in the "Six Giants" of US stocks.
As of the end of the fourth quarter, the total Market Cap of Bridgewater's held stocks was $21.8 billion, which increased by 23.2% compared to the previous quarter's $17.7 billion. Bridgewater established 83 new symbols, increased its Holdings in 262 symbols, liquidated 165 symbols, and reduced its holdings in 343 symbols.
Bridgewater significantly increased its holdings in the fourth quarter, $SPDR S&P 500 ETF (SPY.US)$ the symbol's proportion in its holdings jumped from 2.72% to 22.12%, becoming its largest position. After this substantial increase, Bridgewater's holdings have also become more concentrated, with the top ten holdings now representing 43.19% of the total market cap, up from 32.29% in the previous quarter.
As of the end of the fourth quarter, the top five Hold Positions of Brigewater are: $SPDR S&P 500 ETF (SPY.US)$ 、 $iShares Core S&P 500 ETF (IVV.US)$ with $iShares Core MSCI Emerging Markets ETF (IEMG.US)$ 、 $Alphabet-A (GOOGL.US)$ and $NVIDIA (NVDA.US)$ 。
It is worth noting that Bridgewater reduced its holdings in major Technology stocks in the fourth quarter, especially among the recently关注的 'seven giants' of the US stocks, with the exception of Tesla, all other 'six giants' were significantly reduced.
The report shows that Bridgewater Holdings in the fourth quarter... $NVIDIA (NVDA.US)$ 、 $Alphabet-C (GOOG.US)$ 、 $Meta Platforms (META.US)$ 、 $Microsoft (MSFT.US)$ 、 $Apple (AAPL.US)$ and $Amazon (AMZN.US)$ All have been reduced, with reductions of 26.44%, 17.31%, 22.58%, 23.34%, 40.19%, and 34.84% respectively.
The aforementioned stocks are some of the biggest beneficiaries of the recent AI wave, achieving remarkable gains in the past two years and even to some extent dominating the market sentiment and trend of US stocks. However, even after this round of shareholding reduction, Google, NVIDIA, Meta, and Microsoft remain among Bridgewater's top ten holdings.
However, Bridgewater does not seem to completely bearish on Technology stocks benefiting from AI technology, as it also increased its holdings by over 0.33 million shares of AMD in the fourth quarter.
Newly established position in Tesla.
In addition, Bridgewater also established a new position of 0.1535 million shares in Tesla. Unlike the other six companies in the 'seven giants' of US stocks, Tesla's stock price did not experience a significant increase during the previous AI frenzy.
However, in the fourth quarter of last year, with the significant announcement of the Tesla Robotaxi and the latest progress in humanoid robots, Tesla's stock price saw a notable increase.
In terms of Chinese concept stocks, Bridgewater slightly reduced its Shareholding by nearly 5000 shares. $PDD Holdings (PDD.US)$ This caused its ranking in Bridgewater Holdings to drop from 17th to 32nd. After this round of Shareholding reduction, the Market Cap of PDD Holdings held by Bridgewater is 0.121 billion USD, accounting for 0.55% of total Hold Positions, slightly down from 0.96% in the previous quarter.
Editor/Somer
