In this article, we discuss the 5 new stocks in the portfolio of billionaire Ray Dalio. If you want to read our detailed analysis of these stocks, go directly to Billionaire Ray Dalio’s Thoughts on Bitcoin and 10 New Stocks in Portfolio.
5. Huntsman Corporation (NYSE:HUN)
Number of Hedge Fund Holders: 27
Huntsman Corporation (NYSE:HUN) is ranked fifth on our list of 10 new stocks in the portfolio of billionaire Ray Dalio. The company makes and sells differentiated organic chemical products and is headquartered in Texas. According to the latest securities filings, Bridgewater Associates owned 73,676 shares in the firm at the end of the second quarter of 2021 worth $1.9 million.
In February, investment advisory Citi maintained a Buy rating on Huntsman Corporation (NYSE:HUN) stock and raised the price target to $34 from $32, appreciating the quarterly earnings results of the company.
At the end of the second quarter of 2021, 27 hedge funds in the database of Insider Monkey held stakes worth $582 million in Huntsman Corporation (NYSE:HUN), down from 35 in the previous quarter worth $735 million.
In its Q4 2020 investor letter, Madison Funds, an asset management firm, highlighted a few stocks and Huntsman Corporation (NYSE:HUN) was one of them. Here is what the fund said:
“We have increased our exposure modestly to several industrial and materials names that we believe should benefit from the reopening of the economy in 2021. One such name is Huntsman Corporation (HUN); a company we have followed for more than 15 years and have never owned before. Huntsman Corporation is a global producer of organic chemicals. The company was founded by well-known businessperson and political figure, Jon Huntsman, in 1970 and has grown through its history into a diversified portfolio of chemical businesses Our interest in Huntsman coincides with the current trough conditions in the global economy due to the Covid-19 recession. The company’s end markets are cyclical and demand for their products is highly price elastic. Additionally, the advanced materials business suffered due to the exposure to the aerospace original equipment manufacturer (OEM) down cycle. Despite these challenges, we believe management has executed well; no surprise, given their track record. We think Earnings before interest, taxes, and amortization (EBITDA) troughed in second quarter and are heartened by the lack of further deterioration in 3Q and 4Q. Looking to the future, we see an intriguing reflation opportunity driven by the resumption of economy activity in late 2021. Further, we posit that the easy monetary policy, that has characterized this cycle, has inflationary side effects which would benefit a basic materials producer such as HUN. The company has also been moving downstream to more value-added businesses, which may drive EBITDA multiple expansion in the future.”
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.”
3. AstraZeneca PLC (NASDAQ:AZN)
Number of Hedge Fund Holders: 37
AstraZeneca PLC (NASDAQ:AZN) is a United Kingdom-based biopharmaceutical company. It is ranked third on our list of 10 new stocks in the portfolio of billionaire Ray Dalio. According to the latest filings, Bridgewater Associates owned 91,336 shares in the firm at the end of the second quarter of 2021 worth $5.4 million.
On September 17, investment advisory Morgan Stanley maintained an Overweight rating on AstraZeneca PLC (NASDAQ:AZN) stock and raised the price target to GBP10,000 from GBP9,800. Mark Purcell, an analyst at the firm, issued the ratings update.
At the end of the second quarter of 2021, 37 hedge funds in the database of Insider Monkey held stakes worth $2.7 billion in AstraZeneca PLC (NASDAQ:AZN), up from 34 in the previous quarter worth $2.6 billion.
In its Q4 2020 investor letter, Baron Health Care Fund, an asset management firm, highlighted a few stocks and AstraZeneca PLC (NASDAQ:AZN) was one of them. Here is what the fund said:
“AstraZeneca PLC is a multinational pharmaceutical company developing drugs across multiple therapeutic areas such as oncology and respiratory diseases. Shares were impacted by news of AstraZeneca’s joint development with Oxford University of a viral-based COVID-19 vaccine. Given a mixed data set due to an unforeseen error in dosing that occurred in the Brazilian market, the vaccine timelines slipped, hurting share performance. Our investment thesis on AstraZeneca is not dependent on COVID-19 but rather its best-in-class large-cap growth profile, and we retain conviction.”
2. Autodesk, Inc. (NASDAQ:ADSK)
Number of Hedge Fund Holders: 64
Autodesk, Inc. (NASDAQ:ADSK) is placed second on our list of 10 new stocks in the portfolio of billionaire Ray Dalio. The company markets 3D design, engineering, and entertainment software and services. It is headquartered in California. Latest data shows that Bridgewater Associates owned 76,787 shares in the firm at the end of June 2021 worth $22 million.
On September 2, investment advisory Rosenblatt maintained a Buy rating on Autodesk, Inc. (NASDAQ:ADSK) stock with a price target of $355, noting that the firm expected double-digits revenue growth over the next few years.
At the end of the second quarter of 2021, 64 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in Autodesk, Inc. (NASDAQ:ADSK), down from 66 the preceding quarter worth $3 billion.
In its Q1 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Autodesk, Inc. (NASDAQ:ADSK) was one of them. Here is what the fund said:
“Adobe and Autodesk are both prime examples of the rotation that occurred during the quarter. Both are dominant businesses in their respective markets, which are experiencing structural tailwinds. Despite each business’s position of strength, the stocks of cyclicals and businesses with higher leverage and lower profitability were more favored this past quarter. In stark contrast, Adobe and Autodesk both have low leverage, high levels of profitability, high recurring revenues that mitigate cyclicality, and are both capital-light business models—all attributes we appreciate as investors. Adobe and Autodesk were also two of the top three performers within the Portfolio during 2020.”
1. AT&T Inc. (NYSE:T)
Number of Hedge Fund Holders: 68
AT&T Inc. (NYSE:T) is ranked first on our list of 10 new stocks in the portfolio of billionaire Ray Dalio. The company operates as a telecommunication, media, and technology firm and is based in Texas. 13F filings reveal that Bridgewater Associates owned 11,187 shares in the company at the end of the second quarter of 2021 worth $322,000.
On September 8, investment advisory LightShed Partners initiated coverage of AT&T Inc. (NYSE:T) stock with a Buy rating and a price target of $36, highlighting that the wireless and fiber growth opportunity was “not being properly recognized by the market”.
At the end of the second quarter of 2021, 68 hedge funds in the database of Insider Monkey held stakes worth $2.8 billion in AT&T Inc. (NYSE:T), up from 63 in the previous quarter worth $2.7 billion.
In its Q1 2021 investor letter, Nelson Capital Management, an asset management firm, highlighted a few stocks and AT&T Inc. (NYSE:T) was one of them. Here is what the fund said:
“Nelson Capital stayed busy in the first quarter, making several adjustments within our core portfolio. In the communication services sector, we sold AT&T (tkr: T). Over the years, AT&T has made several poor acquisitions, especially in the content realm, leaving the company saddled with debt and unable to change directions.”
You can also take a peek at 9 Tech and Software Stocks to Buy According to Hamilton Helmer’s Strategy Capital and Analysts Are Downgrading These 10 Stocks.
