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Bridgewater's Q1 Hold Positions have been released! Shareholding in Google, NVIDIA, and Meta has been reduced, a large purchase of Gold, new investment in JD.com, and Shareholding in Alibaba and Baidu has been increased.

wallstreetcn ·  May 15 07:19

Bridgewater initiated new purchases in the first quarter, buying over 0.3 billion USD in Gold ETF, over 0.1 billion USD in JD.com, Chubb Insurance, Goldman Sachs, and others. Increased shareholding in Alibaba, Baidu, Booking, and others. Completely sold off ON Semiconductor, Moderna, Lyft, Chewy, and others. Reduced shareholding in the SPDR S&P 500 ETF, as well as in Google's parent company Alphabet, NVIDIA, AppLovin, Meta, and others.

The latest Form 13F report released on Wednesday shows that as of the quarter ending March 31 of this year, Bridgewater Associates led by Dalio reduced its holdings in the SPDR S&P 500 ETF during the quarter, while significantly buying into a large amount of $SPDR Gold ETF (GLD.US)$ The Financial Sector ranked among the top increases in Bridgewater's portfolio for the quarter, while the largest reduction was in the Medical Care Sector.

Despite Bridgewater cutting back on its holdings in the first quarter of this year, $SPDR S&P 500 ETF (SPY.US)$ it still remains its largest holding stock, accounting for 8.7%.

Notably, during the first quarter, Bridgewater aggressively bought into the SPDR Gold ETF, which became the largest new position for Bridgewater that quarter, amounting to $0.319 billion. The Gold ETF surged 19% in the first quarter of this year and continued to rise in the subsequent second quarter, although it has retreated somewhat from the historic high set in April.

In the first quarter of this year, Bridgewater published a lengthy article detailing the motivations and prospects behind the surge in Gold prices and why it is necessary to allocate assets to Gold. Bridgewater pointed out, "You won't find another asset like this. There is no asset you can buy and hold that has such low correlation with traditional stocks and bonds. It is extremely rare, and therefore highly valuable."

From an industry allocation perspective, Bridgewater's largest increase in holdings in the first quarter of this year was in the Financial Sector, which includes newly established positions in the insurance company Chubb Ltd and Goldman Sachs. The largest reduction was in the Medical Care Sector, with exited stocks including $Moderna (MRNA.US)$ and $CorVel (CRVL.US)$ . In addition, Bridgewater has reduced its holdings in several popular Technology stocks in the U.S., including a reduction in $Alphabet-A (GOOGL.US)$$NVIDIA (NVDA.US)$$Applovin (APP.US)$$Meta Platforms (META.US)$ etc.

In terms of Chinese concept stocks, Bridgewater made a new investment in the first quarter. $JD.com (JD.US)$ Hold Positions, Shareholding $Alibaba (BABA.US)$$Baidu (BIDU.US)$

According to media analysis Statistics, Bridgewater disclosed 664 investments, with a total Market Cap decline of 1.2% compared to the previous quarter, falling to 21.6 billion USD.

The following are the new Hold Positions established by the Bridgewater Fund in the first quarter, with the largest increases including $SPDR Gold ETF (GLD.US)$$JD.com (JD.US)$$United Airlines (UAL.US)$$Chubb Ltd (CB.US)$$Delta Air Lines (DAL.US)$

The following are the situations where Bridgewater Fund completely exited in the first quarter. The most pronounced exit was in: $ON Semiconductor (ON.US)$$Moderna (MRNA.US)$$Lyft Inc (LYFT.US)$$Chewy (CHWY.US)$ etc.

The following is the main increase in holdings by Bridgewater Fund in the first quarter, with Alibaba and Baidu being the top two Chinese companies. After the increase, Bridgewater's holding of Alibaba has a Market Cap of approximately $0.75 billion. The Chinese companies significantly outperformed the U.S. Large Cap in the first quarter of this year, with Alibaba soaring over 55% in that period and Baidu also recording over 9% growth. Other main increases include $Booking Holdings (BKNG.US)$$Palo Alto Networks (PANW.US)$$ServiceNow (NOW.US)$

The following are the main reductions made by Bridgewater Fund in the first quarter. Apart from the S&P 500 ETF, Bridgewater's reductions are mainly focused on large Technology stocks, with the most significant reductions being in. $Alphabet-C (GOOG.US)$$NVIDIA (NVDA.US)$$Applovin (APP.US)$ and $Meta Platforms (META.US)$ In the first quarter of this year, alongside the decline in US stocks, these technology stocks all recorded a drop for the season.

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