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Analyst Opinions

Topic 699 news 4121 Subscribers

Ray Dalio's Bridgewater drops Alibaba, JD.com but bulks up on this Chinese tech stock

Benzinga Real-time News · Aug 12, 2022 12:07 · Insights

NTES +0.59% BIDU +0.89% JD +1.32% BABA +0.88% BILI +0.71%

Bridgewater Associates, billionaire investor Ray Dalio's hedge fund, has sold five major Chinese technology stocks last quarter.

What Happened: Bridgewater, which Dalio founded in 1975, sold all 7.48 million shares $Alibaba(BABA.US)$ it held at the end of the second quarter, 13F filings by the firm showed.

Bridgewater also liquidated its entire holdings in $Bilibili(BILI.US)$, $NetEase(NTES.US)$, $JD.com(JD.US)$ and Chinese ride-hailing service $DiDi Global Inc(DIDIY.US)$.

In each of these companies, the firm previously held 1.1 million, 370,125, 2.1 million and 8.2 million shares, respectively.

On the other hand, Bridgewater bought additional shares of the Chinese search engine company $Baidu(BIDU.US)$, increasing its holdings by 17,371 shares to 1.13 million shares.

The firm also held onto its $Tencent Music(TME.US)$ shares. Tencent is based in Shenzhen, Guangdong.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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