Ray Dalio’s Hedge Fund Pours $257,570,000 Into Two New Assets, Sells Stock That Warren Buffett Just Pumped Billions Into

The hedge fund founded by legendary investor Ray Dalio just allocated more than a quarter of a billion dollars into two new assets.

A new 13F filing from Bridgewater Associates shows that the firm has purchased 617,208 shares of the social media platform Reddit (RDDT) valued at $141.95 million.

The investment management firm also bought 807,514 shares of the retail-focused trading platform Robinhood (HOOD) in Q3, worth $115.61 million.

In total, Bridgewater poured $257.70 million into RDDT and HOOD.

Meanwhile, Bridgewater slashed its Alphabet (GOOGL) holdings in the quarter ending in September.

The investment management firm sold more than 2.94 million shares of GOOGL worth $341.80 million last quarter. The sale accounts for about 35% of Bridgewater’s GOOGL stake.

While Bridgewater was lightening its GOOGL trove, Warren Buffett’s Berkshire Hathaway accumulated the stock in Q3.

The prominent holding company bought more than 17.84 million shares of GOOGL valued at $4.93 billion. The new GOOGL position represents 1.6% of the firm’s portfolio.

In May, Buffett announced plans to step down as Berkshire Hathaway’s CEO at the end of this year. He said he’d choose his successor, Greg Abel, over any CEO, consultant or academic to handle Berkshire’s portfolio moving forward.

Generated Image: Midjourney