Ray Dalio's hedge fundClick for Ray Dalio's hedge fund .... - Bridgewater Associates ditched its stake in Tesla and opened new positions in major banks last quarter.
- The world's largest hedge fund also made new bets on tech stocks including Facebook and BlackBerry.
- The fund sold its stakes in automaker Ford and apparel brands Lululemon and Under Armour.
Ray Dalio's Bridgewater Associates sold its stake in Tesla and bought new positions in banks including JPMorgan and Goldman Sachs in the fourth-quarter, according to a recent filing with the Securities and Exchange Commission.
Dalio, the founder of the world's largest hedge fund, now holds a $52 million stake in JPMorgan, a $17 million stake in Goldman Sachs, and a $19 million stake in Morgan Stanley.
Other new financial bets he took on included Wells Fargo, Bank of New York Mellon, Bank of America, and MasterCard. The fund opened new positions in some tech stocks including Alphabet, Microsoft, Facebook, Zoom, and BlackBerry.
It also pumped money into airline stocks, with a $5 million stake in Delta Air Lines and a $8 million stake in Southwest Airlines. The investing legend also completely cut exposure to retailers Lowe's Companies and Home Depot, apparel brands Lululemon Athletica and Under Armour, and automaker Ford.
Dalio's hedge fund suffered a hefty $12.1 billion loss for investors in 2020, after failing to position adequately during the downturn and the subsequent rebound. But he is still the best-performing asset manager of all time, reaping gains of $46.5 billion since inception.
Bridgewater Associates manages about $150 billion in assets, based on data up to January 2021.