Billionaire Ray Dalio’s Bridgewater Associates fully exited its stakes in BlackRock (BLK) and two US banks, while rotating capital into four high-flying names.
Bridgewater’s 13F filing with the U.S. Securities and Exchange Commission (SEC) shows that in the first quarter of this year, the company sold the remaining 4,581 BLK shares that were previously worth $4.903 million.
In addition to BlackRock, the company also exited its stake in Capital One (COF) in the first quarter, selling 157,774 COF shares worth $38.238 million. And Bridgewater dumped all of his holdings in Cadence Bank (CADE), selling 436,720 CADE shares worth $18.709 million.
On the buy side, Bridgewater opened a new position in semiconductor foundry Tower Semiconductor (TSEM) in the quarter ended March 31. The hedge fund collected 462,725 TSEM shares worth $81.198 million. TSEM is trading at $269.88, marking an increase of over 129% so far this year.
Bridgewater has also acquired a new stake in ASE Technology Holding Co (ASX), a semiconductor assembly and testing (OSAT) services provider. In the first quarter, the hedge fund gobbled up 1,547,859 ASX shares worth $33.557 million. ASX is trading at $41.82, up almost 160% since the start of the year.
Another new position for Bridgewater in the first quarter is advanced fiber optic networking products provider Applied Optoelectronics (AAOI). The company collected 223,935 AAOI shares worth $18.942 million. AAOI is trading at $138.54, up 103% this year.
And Bridgewater opened a new position in energy infrastructure platform Hut 8 Corp (HUT), purchasing 245,659 HUT shares worth $11.523 million. HUT is trading at $117.68, up more than 156% since the beginning of the year.
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