The hedge fund of billionaire Ray Dalio is protecting against the US Dollar and cutting its exposure to S&P 500, while still remaining on the offensive.
According to the latest 13F filings, Dalio’s Bridgewater Associates reduced its stake in SPDR S&P 500 ETF. This benchmark fund tracks the S&P 500.
As of the end March, this fund represents about 8.5% in Bridgewater’s total portfolio.
The hedge fund increased its exposure simultaneously to SPDR gold shares ETF (GLD), a exchange-traded funds that tracks the prices of bullion less expenses.
Bridgewater has increased its GLD exposure by approximately 33% and allocated $340 Million in total.
Dalio has repeatedly warned that the US dollar’s fall could trigger stagflation, a depressing economic result marked by high unemployment, high inflation and low economic development.
Bridgewater’s portfolio, however, isn’t just defensive.
The firm, along with GLD has significantly boosted its presence in Chinese ecommerce giant Alibaba.
Bridgewater has increased its Alibaba shares by more than 3,000%. It now holds 5,660,258 worth $680,000,000.
This makes it the top investment in the fund.
Alibaba’s share price has increased by approximately 42 percent year to date, largely due to the strong growth of its cloud computing division.
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The post Billionaire Ray Dalio’s Bridgewater sells S&P500, amasses $1.020,000,000 in two major assets may be updated as new information becomes available.
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