Bridgewater Capital’s 13F: Heavily holds TSMC and NVIDIA, exits Salesforce

Bridgewater Associates, the world’s largest hedge fund, has filed its 13F holdings report for Q1 2026 with the U.S. Securities and Exchange Commission (SEC). The biggest change this quarter is a rotation within the financials sector: the fund sharply reduced exposure and closed out multiple enterprise software stocks, while concentrating capital into artificial intelligence (AI) chips and cloud infrastructure. Among them, TSMC (TSMC) became the largest new position this quarter, while Amazon (Amazon) received additional buying and rose to become the third-largest holding.

Bridgewater builds a position in TSMC and the semiconductor supply chain

In Q1 2026, Bridgewater strengthened its allocation to the hardware supply chain. According to the 13F filing, the fund bought approximately 1.077 million shares of TSMC for the first time; by quarter-end, the position had a market value of $364 million, accounting for 1.62% of the overall portfolio—placing it directly into the top ten holdings. In addition, Bridgewater also increased positions in multiple core semiconductor names, including adding about 827,000 shares of Nvidia, lifting its weighting to 3.65%. Broadcom and Micron also received increases of 670,000 shares and 586,000 shares, respectively. The data suggests that institutional investors have strong consensus on the continued demand from the chip manufacturing and design side.

Amazon and major cloud service providers ramp up buying

Among big tech stocks, Amazon became the individual stock with the largest increase for Bridgewater this quarter. The report indicates that Bridgewater added more than 2.44 million shares of Amazon stock, bringing total holdings to 4.388 million shares. Its portfolio weighting rose from 1.64% in the prior quarter to 4.08%, making it the third-largest holding. At the same time, the fund continued to build positions in Google’s parent company Alphabet and Microsoft. This move reflects capital shifting toward ultra-large cloud service providers that can deliver large-scale computing capacity. Analysts say that large institutions view these cloud giants as key infrastructure supporting the growth of computing.

Fully exits enterprise software stocks such as Salesforce

In sharp contrast to its aggressive positioning in semiconductors, Bridgewater closed out positions across multiple enterprise software segments during Q1. The report shows that Bridgewater fully exited cloud software provider Salesforce, selling more than 1.93 million shares. Other software stocks that were reduced or closed out included ServiceNow (reduced by about 1.338 million shares), Workday (reduced by about 965,000 shares), and companies such as GoDaddy. As enterprise software stocks faced both valuation pressure and the broader macroeconomic environment in Q1, the market appeal of these assets changed. Bridgewater adopted a relatively conservative strategy, shifting its investment focus from software application-side to real hardware segments.

This article “Bridgewater Fund’s 13F: Heavily Holding TSMC and Nvidia, Exits Salesforce” was first published on Lianwen ABMedia.