Bridgewater, Viking among big hedge funds that added Tesla in fourth quarter before rally

Billionaire Ray Dalio’s Bridgewater Associates, Viking Global Investors, and Granite Point Capital were among prominent hedge funds placing new bets on electric carmaker Tesla Inc in the fourth quarter, positioning them to gain from its nearly 100% rally over the first six weeks of the year. The positions were revealed in 13F filings with the U.S. Securities and Exchange Commission released on Thursday and Friday, which are one of the few public ways of tracking what hedge fund managers are selling and buying. If each hedge fund had held on to its stake, Bridgewater’s purchase of nearly 45,000 shares would be worth approximately $36 million (£27 million), while Viking’s purchase of nearly 52,000 shares would be would be worth slightly more than $42 million.