By Anirban Sen

NEW YORK (Reuters) -Wall Street’s largest hedge funds reduced exposure to some Magnificent Seven stocks, including Nvidia, Amazon, Alphabet and Meta, in the third quarter, while placing new bets in sectors such as application software, e-commerce and payments, according to the latest quarterly disclosures from the funds.

Here are key position changes by some of the funds:

BRIDGEWATER ASSOCIATES

Bridgewater Associates, which enjoyed a stellar run during the first nine months of the year as it outperformed all its top peers, slashed its stake in Nvidia by nearly two-thirds to 2.5 million shares and in Alphabet by more than 50% to 2.65 million shares. The firm also trimmed its stake in Amazon.com by 9.6% to about 1.1 million shares and its holdings in semiconductor industry

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