Billionaire Ray Dalio’s 5 New Stock Picks

4. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Number of Hedge Fund Holders: 37  

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is an Israel-based company that makes and sells direct current optimized inverter systems for solar photovoltaic installations. It is placed fourth on our list of 10 new stocks in the portfolio of billionaire Ray Dalio. Latest data shows that Bridgewater Associates owned 4,472 shares in the company at the end of June 2021 worth $1.2 million. 

On August 31, investment advisory Wolfe Research initiated coverage of SolarEdge Technologies, Inc. (NASDAQ:SEDG) stock with an Outperform rating, noting that there was a long runway of growth for the solar industry. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Impax Asset Management is a leading shareholder in SolarEdge Technologies, Inc. (NASDAQ:SEDG) with 771,762 shares worth more than $212 million. 

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and SolarEdge Technologies, Inc. (NASDAQ:SEDG) was one of them. Here is what the fund said:

“Our sustainability orientation has led us to favor renewable energy providers such as SolarEdge over traditional fossil fuel energy companies. Renewables stocks moved up very strongly over the last several quarters on optimism about huge green stimulus plans in Europe and the U.S. so we took profits and sold SolarEdge Technologies as valuations became demanding.”