What is the world’s largest hedge fund firm betting on?
According to MarketWatch, Ray Dalio’s Connecticut-based Bridgewater Associates’ capital is mostly invested in macro instruments, such as currencies and commodity futures but it also invests in equities.
The hedge fund giant purchased a stake in PepsiCo in the fourth quarter of last year, making the beverage and snacks company the firm’s third-largest equity holding. The firm increased its stakes in technology companies IBM, Citrix Systems, IBM and Broadcom by 36%, 280%, 70% and 323%, respectively, during the same period.
Dalio's second largest new purchase was casino operator Las Vegas Sands, which could be attributed to his bullish view on consumer discretionary spending in Asia. Las Vegas Sands makes most of its revenue from Macau and Singapore.
With about $144 billion in assets under management, Dalio founded in 1975 by Ray Dalio out of his two-bedroom New York City apartment.