Ray Dalio’s Bridgewater dumps Tesla, bets on meme stocks AMC and GameStop

Ray Dalio’s Bridgewater dumps Tesla, bets on meme stocks AMC and GameStop

Bridgewater Associates is out with the old and in with the new.

The world’s largest hedge fund led by billionaire Ray Dalio has parted ways with its stake in Tesla (TSLA) and placed new bets on meme-stocks AMC (AMC) and GameStop (GME) during the first quarter, a filing with the Securities and Exchange Commission showed. The firm also took new positions in Warren Buffet’s Berkshire Hathaway (BRK.B) and Airbnb (ABNB).

Earlier regulatory reports by Bridgewater indicated the hedge fund owned 25,488 shares of Elon Musk’s Tesla as of the end of last year.