Ray Dalio's Bridgewater Associates Bumps Stake in These Five Companies by at Least 300% in Q4

Billionaire investor Ray Dalio's Bridgewater Associates recorded a portfolio growth of 0.66% during Q4 2024.

Dalio is known for his risk parity strategies, which balance risks across asset classes. His 'Pure Alpha' techniques to maximise the return-to-risk ratio through active management and the 'All Weather' investment approach have helped the hedge fund consistently return value to investors regardless of the economic landscape.

According to a 13F filing with the US Securities and Exchange Commission (SEC) dated 13th February, the hedge fund made several changes to its diverse portfolio of 691 holdings.

Stake In Fortinet Increases By Over 300%

The latest filing revealed the hedge fund's stake in Fortinet (NASDAQ:FTNT) jumped by 364.94%, or 732,870 shares, in Q4. Total holdings were 933,690 shares worth £68.22 million ($88.22 million). The stock price has jumped by 22.37% in the past six months as the company ramped up its efforts to update security platforms to protect critical infrastructure and industrial sites from evolving cyber threats. Fortinet is also strengthening its partnership with companies like Marlink to enhance network optimisation and data protection for clients across diverse industries.

Over 400% Jump in AT&T Stake

Bridgewater Associates increased its AT&T (NYSE:T) holdings by 402.32% by purchasing 5.19 million company shares in Q4. The hedge fund now owns 6.48 million shares worth £114.07 million ($147.51 million). The stock price has jumped 20.47% in the past six months to close at £20.11 ($26.01) on 13th March. AT&T plans to leverage its healthy free cash flow to expand its fibre network to over 50 million locations by 2029. The company expects to generate £38.66 billion ($50 billion) in financial capacity by 2027.

A Bump In Adobe Stake By Over 400%

Dalio's hedge fund bought 190,800 shares of Adobe (NASDAQ:ADBE) in Q4, marking a 424.44% increase in holdings compared to the prior quarter. The institution now holds a total of 235,760 shares of the company worth £81.07 million ($104.84 million). The company stock price has declined by over 14% year-to-date to close at £292.2 ($377.84) on 13th March. However, the company posted record revenue of £4.41 billion ($5.71 billion) for Q1 FY25, where £96.66 million ($125 million) came from its emerging AI products. Although the stock price tanked due to a dull full-year outlook, Adobe CEO Shantanu Narayen said the company is 'well-positioned to capitalise on the acceleration of the creative economy driven by AI.'

A 500% Increase in eBay Holdings

During the quarter, the hedge fund increased its stake in eBay (NASDAQ:EBAY) by 531.08% or 1.5 million shares. It now owns a total of 1.78 million eBay shares worth £85.31 million ($110.32 million). The stock price is up 3.18% year-to-date, closing at £49.69 ($64.25) on 13th March. The company has witnessed a slump in growth amid stiff competition from companies like Amazon and Alibaba, as well as weaker demand for discretionary goods due to elevated inflation. However, the company is heavily integrating AI to personalise shopping experiences in an effort to grow its market share.

Stake in Robinhood Markets Increases By Over 600%

Bridgewater Associates increased its stake in Robinhood Markets (NASDAQ:HOOD) by 645.52%, or 2.14 million shares, to 2.47 million shares worth £71.09 million ($91.93 million). The stock price jumped 62.18% in the past six months to close at £27.86 ($36.02) on 13th March. This week, Keefe, Bruyette & Woods retained their 'Market Perform' rating on Robinhood with a stock price target of £46.4 ($60). They cited the continued growth in margin balances despite a drop in equity and cryptocurrency trading volumes on its brokerage platform. However, options volumes exceeded expectations by 4%. The margin balance growth could signal a positive trend for the company's revenue, as it benefits from increased client borrowing for investment purposes. The brokerage believes the company's performance appears to align with market expectations, with a potential for outperformance in the upcoming earnings report.

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