This article presents an overview of Billionaire Ray Dalio and Insiders Love These 5 Stocks. For a detailed overview of such stocks, read our article, Billionaire Ray Dalio and Insiders Love These 10 Stocks.
5. Enphase Energy Inc (NASDAQ:ENPH)
Bridgewater Associates’ Stake: $2,969,582
Ray Dalio’s Bridgewater cut its stake in Enphase Energy Inc (NASDAQ:ENPH) by 76% in the fourth quarter of 2023, concluding the period with a $3 million stake. Thurman John Rodgers, a board member at Enphase Energy Inc (NASDAQ:ENPH), bought 32,600 shares of Enphase Energy Inc (NASDAQ:ENPH) at $122.76 on September 14, 2023. Since then through March 8 the stock has gained about 6%.
Aristotle Atlantic Large Cap Growth Strategy stated the following regarding Enphase Energy, Inc. (NASDAQ:ENPH) in its fourth quarter 2023 investor letter:
“We sold our position in Enphase Energy, Inc. (NASDAQ:ENPH) due to slowing demand for residential solar energy, primarily driven by rising interest rates and potentially increasing competition. During the second quarter earnings report in July, the company lowered its guidance for the third quarter microinverter, and we believed there was a heightened risk that Enphase would lower guidance again. We remain optimistic about Enphase’s competitive advantages over the long term in the residential solar energy market, but we prefer to wait for more apparent evidence of a rebound before considering a reinvestment in the company.”
4. Warner Bros. Discovery Inc (NASDAQ:WBD)
Bridgewater Associates’ Stake: $3,813,734
Ray Dalio’s Bridgewater Associates bought a new stake in Warner Bros Discovery during the last quarter of 2023, buying 335,126 shares of the media giant. The total worth of these shares was $3.8 million. Steven O. Newhouse, a board director at Warner Bros, on December 14 bought 10 million shares of Warner Bros at $12.49 per share. The stock closed trading in the open market at the same price. Since then through March 8 the stock has lost about 30% in value.
Longleaf Partners Fund stated the following regarding Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its fourth quarter 2023 investor letter:
“The rules have improved how we analyze existing holdings and influenced the price at which we will buy a new holding and/or trim or add to an existing one. This has resulted in a higher level of resizing positions in the portfolio and exiting some long-term holdings this year. A good example in the portfolio today is Warner Bros. Discovery, Inc. (NASDAQ:WBD), a company that we bought too early but that remains a holding in the portfolio. Our average price for the initial WBD investment in 2021 was $26.48, or a P/V ratio in the mid-60s%. However, P/EV on the initial report was 79%. Under the new rules, we would not pay that price for the company today. We most likely would have waited for a mid-60s% P/EV, which would have equated to a $mid-teens entry price. In this case, we would have missed a too-large initial downturn in the stock price. The overweight rule dictated that we trimmed the position after the price ran up in the first half of 2023, which benefitted overall performance as the stock price subsequently fell again. However, even with the new rule lens, we remain confident in our case for the business and management’s ability to deliver going forward.”
3. Enstar Group Ltd (NASDAQ:ESGR)
Bridgewater Associates’ Stake: $7,341,089
Enstar Group Ltd (NASDAQ:ESGR) ranks third in our list of the Ray Dalio stocks that are also being bought by insiders. Ray Dalio’s fund owns a $7.34 million stake in Enstar Group Ltd (NASDAQ:ESGR) as of the end of the fourth quarter of 2023. Enstar Group Ltd’s (NASDAQ:ESGR) CEO Dominic Francis Michael Silvester bought 45,000 shares of Enstar Group Ltd (NASDAQ:ESGR) on November 7 at $227.18 per share. Since then the stock has jumped by about 17%.
As of the end of the fourth quarter of 2023, 15 hedge funds tracked by Insider Monkey had stakes in Enstar Group Ltd (NASDAQ:ESGR).
2. Aon PLC (NYSE:AON)
Bridgewater Associates’ Stake: $16,291,009
Management consulting company Aon PLC (NYSE:AON) ranks second in our list of the stocks Ray Dalio and insiders are crazy about. Ray Dalio’s Bridgewater Associates has a $16.3 million stake in Aon PLC (NYSE:AON) as of the end of 2023. Lester B. Knight, a member of Aon PLC’s (NYSE:AON) board of directors, bought 50,000 shares of Aon PLC (NYSE:AON) at February 7 at $301.97 per share. Since then through March 8 the stock has lost about 4.6% in value.
Polen Global Growth Strategy stated the following regarding Aon plc (NYSE:AON) in its fourth quarter 2023 investor letter:
“AON PLC’s (NYSE:AON) stock price underperformed this past quarter following the announcement of the company’s acquisition of NFP, a middle market insurance broker, for $13 billion. Though the deal complements Aon’s current business, it is expected to be dilutive to earnings in the near term, prompting a sell-off in the shares. We will continue to assess the merits of the NFP transaction, but it does not currently change our long-term view of Aon, which we view as a steady, durable, low-teens earnings compounder.”
1. Exxon Mobil Corp (NYSE:XOM)
Bridgewater Associates’ Stake: $21,408,317
Ray Dalio’s hedge fund Bridgewater Associates reported owning 214,126 shares of the oil giant Exxon Mobil Corp (NYSE:XOM) as of the end of the fourth quarter of 2023. On November 6, Jeffery Ubben, a director at Exxon Mobil Corp’s (NYSE:XOM) board, purchased 250,000 XOM shares at $105.97 per share. Since the day of this transaction the stock has gained about 1.41%.
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