Ray Dalio's Strategic Moves: Exiting Alibaba Group Holding Ltd with a -3.47% Impact
Ray Dalio (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Ray Dalio (Trades, Portfolio) is the Founder, Co-Chairman, and Co-Chief Investment Officer of Bridgewater Associates. The guru started Bridgewater out of his two-bedroom apartment in New York in 1975. Under his leadership, the firm has grown into the fifth most important private company in the US according to Fortune Magazine. For his and Bridgewater's industry-changing innovations as well as his work advising policymakers around the world, Ray has been called the Steve Jobs of Investing by aiCIO Magazine and Wired Magazine, and named one of the 100 Most Influential People by TIME Magazine. Dalio is also the author of The New York Times #1 Bestseller "Principles," which outlines his work and life principles, the foundation of Bridgewater's distinctive culture and the cornerstone of his and Bridgewaters success. Ray and Bridgewater also recently published "Principles for Navigating Big Debt Crises," the first public dissemination of their research on these economic events, which enabled them to anticipate the 2008 Financial Crisis. Dalio built Bridgewater using a principled-based approach, applying standard ways to deal with situations that occur over and over. With the goal of creating an idea meritocracy, he wrote a set of principles that became the framework for the firm's management philosophy. Chief among them is employing radical truth and radical transparency encouraging open and honest dialogue and allowing the best thinking to prevail. His principles were captured in a TED Talk and published in a bestselling book in 2017. As a global macro-investment manager, Bridgewater takes a diversified approach spanning more than 150 different markets. With deep expertise in portfolio construction and risk management, the firm develops insights and design strategies to deliver value to its clients through any economic environment.
Warning! GuruFocus has detected 5 Warning Signs with NVDA.
Summary of New Buy
Ray Dalio (Trades, Portfolio) added a total of 85 stocks, among them:
The most significant addition was ARM Holdings PLC (NASDAQ:ARM), with 473,725 shares, accounting for 0.31% of the portfolio and a total value of $76.62 million.
The second largest addition to the portfolio was EQT Corp (NYSE:EQT), consisting of 787,156 shares, representing approximately 0.19% of the portfolio, with a total value of $45.91 million.
The third largest addition was Intuit Inc (NASDAQ:INTU), with 58,838 shares, accounting for 0.19% of the portfolio and a total value of $46.34 million.
Key Position Increases
Ray Dalio (Trades, Portfolio) also increased stakes in a total of 206 stocks, among them:
The most notable increase was NVIDIA Corp (NASDAQ:NVDA), with an additional 4,387,154 shares, bringing the total to 7,229,134 shares. This adjustment represents a significant 154.37% increase in share count, a 2.8% impact on the current portfolio, with a total value of $1,142,130,880.
The second largest increase was Alphabet Inc (NASDAQ:GOOGL), with an additional 2,558,097 shares, bringing the total to 5,600,424. This adjustment represents a significant 84.08% increase in share count, with a total value of $986,962,720.
Summary of Sold Out
Ray Dalio (Trades, Portfolio) completely exited 164 holdings in the second quarter of 2025, as detailed below:
Alibaba Group Holding Ltd (NYSE:BABA): Ray Dalio (Trades, Portfolio) sold all 5,660,258 shares, resulting in a -3.47% impact on the portfolio.
PDD Holdings Inc (NASDAQ:PDD): Ray Dalio (Trades, Portfolio) liquidated all 1,742,717 shares, causing a -0.96% impact on the portfolio.
Key Position Reduces
Ray Dalio (Trades, Portfolio) also reduced positions in 287 stocks. The most significant changes include:
Reduced SPDR S&P 500 ETF Trust (SPY) by 731,882 shares, resulting in a -21.9% decrease in shares and a -1.9% impact on the portfolio. The stock traded at an average price of $571.44 during the quarter and has returned 10.22% over the past 3 months and 10.69% year-to-date.
Reduced Constellation Energy Corp (NASDAQ:CEG) by 796,656 shares, resulting in a -84.6% reduction in shares and a -0.74% impact on the portfolio. The stock traded at an average price of $263.62 during the quarter and has returned 12.54% over the past 3 months and 46.93% year-to-date.
Portfolio Overview
At the second quarter of 2025, Ray Dalio (Trades, Portfolio)'s portfolio included 586 stocks, with top holdings including 6.51% in SPDR S&P 500 ETF Trust (SPY), 5.78% in iShares Core S&P 500 ETF (IVV), 4.61% in NVIDIA Corp (NASDAQ:NVDA), 4.16% in iShares Core MSCI Emerging Markets ETF (IEMG), and 3.98% in Alphabet Inc (NASDAQ:GOOGL).
The holdings are mainly concentrated in all 11 industries: Technology, Communication Services, Financial Services, Healthcare, Consumer Cyclical, Industrials, Consumer Defensive, Energy, Utilities, Basic Materials, and Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Activist Starboard buys more Salesforce stock after first demanding change in 2022
By Svea Herbst-Bayliss NEW YORK (Reuters) -Activist Starboard Value, one of the first investors to publicly push Salesforce to make changes three years ago, increased its stake in the U.S. software company by almost 50% in the second quarter, according to a regulatory filing on Thursday. The hedge fund reported owning 1.3 million shares in Salesforce on June 30, compared with 849,679 shares at the end of the first quarter when it boosted its stake by almost 52%. The move comes as the company's stock price has lost nearly 30% since January and is off nearly 9% over the last 12 months. Salesforce, which has a market value of $223 billion, came under intense pressure from a handful of activist investors in late 2022 and early 2023. But many who publicly pushed for changes cut their stakes or exited completely by the middle of 2023 after the company reported better results, added a new director to the board and made other changes. Now the pressure may be increasing again with Starboard, which is known to revisit earlier investments if the company is seen as backsliding on promises, loading up on the stock. While Salesforce's stock price gained nearly 100% in 2023, Starboard's chief executive, Jeffrey Smith, said late last year that the company still had room to become more efficient and profitable. A Starboard spokesperson could not be reached for comment on Thursday. The firm also increased its holding in drugmaker Pfizer by 10.5% to 8.5 million shares, less than a year after unveiling a $1 billion stake in the company and pushing it to improve performance. At Autodesk, where the hedge fund settled its fight with the software design company in April, Starboard cut its stake by nearly 27%, the filing shows. While Thursday's filing is backward-looking, the so-called 13F filings, which detail what U.S. stocks a fund manager owned at the end of the previous quarter, are closely watched for possible investment trends.
Yahoo
25 minutes ago
- Yahoo
America is barrelling toward a 'deflationary shock' as 3 forces hit consumer demand, a top economist says
There's a risk that inflation could turn negative soon, David Rosenberg says. The top economist thinks the US is headed for a "deflationary shock." Tariffs, immigration policies, and an aging population could hit consumer spending and growth, he said. Inflation-weary consumers would be forgiven for thinking falling prices are a good thing, but that's not necessarily the case. Disinflation is usually welcomed news, but deflation signals something more dire is going on in the economy. And deflation is exactly what may be in store for the US, according to one top economist. David Rosenberg, the president of Rosenberg Research, thinks that America could be headed toward a "deflationary shock," a situation where prices decline rather than merely increase at a slower pace. While consumers might perk up at the idea of lower prices, deflation is often thought to be a more difficult problem for policymakers to solve than high inflation. The Fed can raise interest rates to combat higher prices, but, in the case of deflation, central bankers can only lower interest rates until they hit 0% before needing to turn to other options to boost the economy. That's one reason why countries like Japan and China, which have been slammed with deflation crises in the past, have seen their economists mired in long periods of anemic growth in the years that followed. The US could be facing a similar fate, Rosenberg said, adding that he believed America was "following the footsteps" of those two nations in particular. "We are now staring down the barrel of a deflationary shock, and it amazes me how all the bond bears, inflation-phobes, and Fed policy hawks are missing this secular shift as they continue to play by the old rules," Rosenberg wrote in a report on Wednesday. He sees three reasons the US is headed for an era of deflation. Tariffs could actually be deflationary Tariffs are thought by economists to be inflationary, as companies can pass along the cost of import duties by raising prices for consumers. But there's also a deflationary aspect to tariffs: Higher prices cause consumers to spend less, which could lower prices as demand falls relative to supply, Rosenberg said. There are already signs that consumers are beginning to tighten their belts. While inflation rose to 2.7% in July, retail sales have been pretty weak, growing 0.6% in June after a 0.9% contraction in May, according to US Census Bureau data. July is expected to show retail sales grew 0.5%. "GDP is, after all, only about spending," Rosenberg said, referring to how consumer spending accounts for around two-thirds of GDP growth in the US. Trump's immigration crackdown could hit growth Slower spending among Americans could collide with the near-term impact of President Donald Trump's immigration policies. Reduced immigration is likely to result in less consumer spending, another factor that will lower prices and hurt economic growth, Rosenberg said. Immigration flows have already started to drop, with new entrance visas to the US plunging 20.5% in May, he said. Meanwhile, Rosenberg added that most immigrants in the US are between the ages of 35 and 54, the age range where spending tends to peak in a lifecycle. "In the final analysis, the demand destruction coming from the trade file, along with lower growth in future spending due to a reduced immigrant consumer base, should lead to lower inflation," he wrote. "Every young immigrant household not allowed into the US accelerates the aging consumption cliff that lies around the bend," Rosenberg added. An aging population will be a drag on spending Those factors are exacerbated by the fact that America's population is rapidly growing older, and people aren't having as many kids as they used to. According to the latest projections from the US Census, the number of Americans 65 and older is expected to soar to 82 million by 2050, up 47% from 2022 levels. An aging population can hit economic growth, given that older Americans tend to save more than they spend. The change in someone's likelihood to consume drops from 0.94 at age 35 to around 0.67 at age 65, per Rosenberg's analysis. "The fact that this is happening in such a highly leveraged economy is only going to exacerbate the deflationary trendline in the not-too-distant future," Rosenberg said, referring to high debt levels in the US that could limit the government's ability to spend on other things to stimulate the economy. Rosenberg, who's known as a contrarian on Wall Street, has made a lot of bearish calls about the US economy in recent years. Earlier in this year, he said he still believes the US was headed for a recession, and speculated that a downturn could materialize as soon as mid-summer. Read the original article on Business Insider
Yahoo
25 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures waver as investors await retail data after rate-cut bets cool
US stock futures traded mixed as Wall Street tempered its rate-cut hopes and awaited July's retail sales report. Futures attached to the Dow Jones Industrial Average (YM=F) rose around 0.3%. Futures attached to the benchmark S&P 500 (ES=F) flatlined. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) fell about 0.2%. Stocks wobbled on Thursday, ending a two-day rally sparked by investor confidence that an interest rate cut in September was nearly certain. Doubts about a significant cut at the Fed's next policy meeting crept in after July's Producer Price Index (PPI) came in hotter than expected. After the bell, Intel (INTC) shares jumped on news that the US government is considering taking a stake in the company. Trump met with Intel's CEO on Monday after calling on him to resign the previous week. UnitedHealth (UNH) stock also soared after a regulatory filing showed Warren Buffett's Berkshire Hathaway bought 5 million shares in the company. Finally, Applied Materials (AMAT) dove after its earnings report included a downbeat forecast that spooked investors. On Friday, Wall Street will be watching the release of retail sales data. The results will offer clues as to whether Trump's tariffs are impacting consumer spending habits.
