- Bridgewater Associates, the largest hedge fund in the world, released in an SEC filing what investments it bought and sold in the second quarter on Wednesday.
- The hedge fund, founded by billionaire investor Ray Dalio, exited positions in a number of exchange-traded funds and Canadian banks amid the coronavirus pandemic recovery.
- Here are the top five investments that Bridgewater Associates dumped last quarter.
- Read more on Business Insider.
The largest hedge fund in the world, Bridgewater Associates, dumped a number of investments in the second quarter as the coronavirus pandemic recovery raged.
The hedge fund, founded by billionaire investor Ray Dalio, exited 153 holdings entirely and decreased holdings in 177 investments in the second quarter, according to a Wednesday Securities and Exchange Commission filing.
A majority of the positions that the firm exited were exchange-traded funds that track Treasury bonds, high-yield corporate debt, and emerging markets. Bridgewater also dumped shares of a number of Canadian banks during the quarter.
On the flip side, the firm also added to its portfolio during the quarter, boosting its total value to $US5.96 billion, a roughly 18% jump from the previous three-month period. Bridgewater bought 137 new holdings and added to 68 existing positions, including ploughing nearly half a billion dollars into gold.
Here are the top five holdings that Bridgewater exited in the second quarter, according to a list compiled by Bloomberg:
1. iShares Barclays 20+ year Treasury Bond ETF
- Ticker: TLT
- Shares sold: 1.69 million
- Market value: $US279.1 million
2. iShares iBoxx High Yield Corporate Bond ETF
- Ticker: HYG
- Shares sold: 1.49 million
- Market value: $US115.2 million
3. iShares JPMorgan USD Emerging Markets Bond ETF
- Ticker: EMB
- Shares sold: 812,571
- Market value: $US78.6 million
4. Royal Bank of Canada
- Ticker: RY
- Shares sold: 465,072
- Market value: $US28.6 million
5. Toronto-Dominion Bank
- Ticker: TD
- Shares sold: 593,053
- Market value: $US25.1 million