Ray Dalio’s Bridgewater Associates has released its first-quarter holdings report (13F), revealing that the fund has heavily bet on six out of the “seven giants” excluding Tesla, and has once again reduced its holdings in the Chinese market, which it has consistently favored.
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Focus on AI-based Companies, Increase Investment in Six Major Tech Giants
Reduce Holdings in Defensive Stocks and Chinese Concept Stocks
Last September, Ray Dalio advised investors to invest in companies that adopt new technologies such as AI, rather than companies that develop new technologies.
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Ray Dalio Summit Speech | More Interested in Holding Cash than Bonds, Focus on Companies that Adopt AI Technology
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According to whalewisdom.com, Bridgewater Associates’ first-quarter holdings report (13F) shows a significant increase in holdings of six major US tech giants including Microsoft, Google, Nvidia, Apple, Meta, and Amazon, but no increase in holdings of Tesla.
Among them, Amazon is a new stock purchased by Bridgewater this quarter, and this time it also purchased AMD, a competitor of Nvidia.
In terms of reducing individual stock holdings, Bridgewater has reduced its holdings in defensive stocks, including Coca-Cola, Costco, and McDonald’s.
Bridgewater has also reduced its holdings in some Chinese concept stocks, including Pinduoduo and the China Large-Cap ETF FXI, as well as the Emerging Markets ETF IEMG.
Ray Dalio has always been a supporter of the Chinese market and has maintained a good relationship with Chinese officials for a long time. However, in March, he warned that China should reduce its debt and relax its monetary policy, or else it will face a “hundred-year storm”.
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Evergrande Suspends Trading! Bridgewater Founder Warns: China Will Face a “Hundred-Year Storm”
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AI
Ray Dalio
China
Bridgewater Associates
Further Reading
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