The world’s biggest hedge fund boosted its bet on Chinese companies in the fourth quarter.
The latest 13-F filing from Bridgewater Associates shows the firm boosted the number of shares it’s held in Alibaba
BABA,
by 29% in the fourth quarter, to take its holding in the Chinese internet services giant to the eighth highest spot in its portfolio.
Bridgewater also boosted its stake in JD.com
JD,
by 33%, in Pinduoduo
PDD,
by 38%, in Baidu BIDU,
by 23%, and in Chinese electric vehicle maker Nio
NIO,
by 8% in the fourth quarter.
Bridgewater also indirectly owns a number of Chinese companies through its third-largest holding, Vanguard’s emerging-markets fund
VWO,
though the firm reduced its holding in that and two similar emerging-markets ETFs in the fourth quarter.
Investors have been tempted in by Chinese companies after a rough 2021 when the country ramped up regulatory scrutiny throughout the economy.
Alibaba shares have climbed 3% this year, Baidu has gained 8% while Nio has tumbled 25%.
Pinduoduo has increased by 1% and JD.com has gained 6%.
Ray Dalio, the founder and co-chief investment officer of Bridgewater, has found himself in hot water over his views on China. He walked back comments in which he appeared to brush off human-rights abuses in the world’s second largest economy when he said it acts like a “strict parent.”
