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US Hedge Funds Trim Stakes in "Magnificent Seven" Stocks in Third Quarter

US hedge funds trim stakes in 'Magnificent Seven' stocks in third quarterSeveral hedge funds cut holdings in Big Tech namesBridgewater cuts Nvidia stake by nearly two-thirdsDiscovery Capital takes new positions in Alphabet, Cleveland-Cliffs, health insurersTiger Global and Lone Pine Capital reduce stake in MetaBy Anirban Sen. NEW YORK, Nov 14 - Wall Street's largest hedge funds reduced exposure to "Magnificent Seven" stocks including Nvidia NVDA.O, Amazon AMZN.O, Alphabet GOOGL.O and Meta META.O in the third quarter, while taking new positions in application software, e-commerce and payments companies, according to regulatory filings on Friday. During the quarter ended September 30, several funds also reduced their exposure to prominent names in healthcare and energy. The latest positions marked a shift from the second quarter when several leading stock-picking firms were much more bullish on Big Tech names after witnessing a boom in artificial intelligence valuations. Since then, t
US Hedge Funds Trim Stakes in "Magnificent Seven" Stocks in Third Quarter

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