The hedge fund of the billionaire Ray Dalio throws exposure to the S&P 500 and hedts against the US dollar – while he manages to remain offensive.
The newest 13F archives show Dalio’s Bridgewater Associates has reduced its interest in the SPDR S&P 500 ETF, a benchmark fund that follows the performance of the S&P 500.
That fund is now about 8.5% of the general portfolio of Bridgewater from the end of March.
At the same time, the Hedgefonds has increased its exposure to SPDR Gold shares ETF (GLD), a fund traded by the exhibition that follows the price of Goudbullion, less its costs.
Bridgewater increased its Gld companies by around 33%, which allocated approximately $ 340 million in total exposure to the precious metal.
The move comes as Dalio repeatedly warns that the deterioration of the US dollar could ultimately cause stagflation – a dreaded economic outcome characterized by high inflation, high unemployment and low economic growth.
But Bridgewater’s portfolio is not only defensive.
In addition to Gld, the company has drastically strengthened its position in Chinese e-commerce Gigant Alibaba (Baba).
Bridgewater increased its Alibaba Holdings by more than 3,000%and reached 5,660,258 shares worth around $ 680 million.
That makes it one of the best interests of the fund.
The shares of Alibaba have risen around 42% to date, powered by strong growth in its cloud computing segment.
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