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TipRanks’ Hedge Fund Tool Hinted at Dalio’s Move to Part Ways with Tesla

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In the first quarter of 2022, American investor Ray Dalio sold his entire stake in Tesla (TSLA) and bought meme stocks like AMC Entertainment (AMC) and GameStop (GME).

Dalio is a billionaire investor and a hedge fund manager. He is also the Co-Chief Investment Officer at Bridgewater Associates, one of the world’s largest investment management firms. As per Forbes, as of January 21, 2022, Dalio had an estimated net worth of $20 billion.

Transaction Details

In Bridgewater’s latest filing, Tesla’s 25,500 shares worth $27 million (as of December 2021) were missing, indicating that the hedge fund manager divested his stake. The twists and turns in Musk’s Twitter (TWTR) deal may have triggered Dalio to sell his stake.

At the same time, the filing showed Dalio’s holding in four new stocks, including 4,136 shares of GameStop (worth $689,000) and 27,066 shares of AMC (totaling $667,000). Dalio has also taken positions in Berkshire Hathaway (BRK.B) and Airbnb (ABNB).

Hedge Funds’ Activity on TipRanks

At this juncture, it is wise to look at what other hedge fund managers are thinking of the three stocks that Dalio has changed positions in.

According to the TipRanks Hedge Fund Trading Activity tool, the confidence of hedge fund managers in Tesla is currently Very Negative, as the cumulative change in holdings across all 31 hedge funds that were active in the last quarter was a decrease of 652,600 shares. This seems to be in sync with Dalio’s move.

Meanwhile, the tool shows that hedge fund’s confidence in AMC is currently Very Positive, as the cumulative change in holdings across all five hedge funds that were active in the last quarter was an increase of 550,200 shares.

Similarly, hedge funds are Neutral on GameStop. The holdings of two hedge funds that were active in the last quarter increased by 58,800 shares.

Takeaway

Which stocks will gain and which will lose? The Hedge Fund tool helps savvy investors gauge likely future stock movement.

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