Billionaire Ray Dalio’s hedge fund is shedding exposure to the S&P 500 and hedging against the US dollar – while managing to stay on offense.

The latest 13F filings show Dalio’s Bridgewater Associates has lowered its stake in the SPDR S&P 500 ETF, a benchmark fund that tracks the performance of the S&P 500.

That fund now makes up about 8.5% of Bridgewater’s overall portfolio as of the end of March.

Simultaneously, the hedge fund has increased its exposure to SPDR Gold Shares ETF (GLD), an exchange-traded fund that tracks the price of gold bullion, less its expenses.

Bridgewater increased its GLD holdings by about 33%, allocating approximately $340 million in total exposure to the precious metal.

The move comes as Dalio repeatedly warns the US dollar’s decline could eventually trigger stagflation – a dreaded economic outcome marked by high inflation, high unemployment and low economic growth.

But Bridgewater’s portfolio is not merely defensive.

Alongside GLD, the firm has dramatically boosted its position in the Chinese e-commerce giant Alibaba (BABA).

Bridgewater increased its Alibaba holdings by over 3,000%, attaining 5,660,258 shares worth approximately $680 million.

That makes it one of the fund’s top holdings.

Alibaba’s stock has risen approximately 42% year-to-date, driven by strong growth in its cloud computing segment.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Investing legend Warren Buffett has built a record $334 billion cash position at Berkshire Hathaway.

The firm’s new fourth-quarter and yearly earnings reports show Buffett continues to be a net seller of assets, with cash on hand rising from $325 billion at the end of Q3.

The firm’s Q4 sales include a whopping sell-off of 117 million Bank of America (BAC) shares, worth about $5.5 billion.

In his annual letter to shareholders, Buffett says despite the firm’s ongoing unload of equities, investors should not be concerned that Berkshire is hoarding too much paper money.

“Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned…

Despite what some commentators currently view as an extraordinary cash position at Berkshire, the great majority of your money remains in equities. That preference won’t change.

While our ownership in marketable equities moved downward last year from $354 billion to $272 billion, the value of our non-quoted controlled equities increased somewhat and remains far greater than the value of the marketable portfolio.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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