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 from the U.S. Securities and Exchange Commission (SEC) shows that in Q1 of this year, the firm sold its remaining 4,581 BLK shares previously worth $4.903 million.
On top of BlackRock, the firm also exited its stake in Capital One (COF) in Q1, selling 157,774 COF shares valued at $38.238 million. And Bridgewater dumped all of its holdings in Cadence Bank (CADE), unloading 436,720 CADE shares worth $18.709 million.
Looking at the buy side, Bridgewater opened a new position in the semiconductor foundry Tower Semiconductor (TSEM) in the quarter ended March 31st. The hedge fund accumulated 462,725 TSEM shares worth $81.198 million. TSEM is trading at $269.88, representing a surge of over 129% so far this year.
Bridgewater also initiated a new stake in the semiconductor assembly and test (OSAT) services provider ASE Technology Holding Co (ASX). In Q1, the hedge fund gobbled up 1,547,859 ASX shares valued at $33.557 million. ASX is trading at $41.82, up nearly 160% year-to-date.
Another new position for Bridgewater in Q1 is the advanced fiber-optic networking products provider Applied Optoelectronics (AAOI). The firm accumulated 223,935 AAOI shares worth $18.942 million. AAOI is trading at $138.54, marking a 103% increase this year.
And Bridgewater opened a new position in the energy infrastructure platform Hut 8 Corp (HUT), buying 245,659 HUT shares valued at $11.523 million. HUT is trading at $117.68, up more than 156% year-to-date.
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