5 Best Growth Stocks to Buy According to Billionaire Ray Dalio’s Bridgewater Associates

In this piece, we will take a look at the 5 best growth stocks to buy according to billionaire Ray Dalio’s Bridgewater Associates. If you want to see more stocks in this selection, then take a look at 12 Best Growth Stocks to Buy According to Billionaire Ray Dalio’s Bridgewater Associates.

5. Kinsale Capital Group, Inc. (NYSE:KNSL)

Percent of Revenue Growth in Past One Year: 44.19%
Bridgewater Associates’ Q3 2023 Stake: $1.98 Million
Number of Hedge Fund Holders: 24

Kinsale Capital Group, Inc. (NYSE:KNSL) is a financial services company offering US property and casualty insurance products. Kinsale Capital Group, Inc. (NYSE:KNSL) markets and sells insurance products in commercial lines, including small business, energy, healthcare, and inland marine, among others.

Kinsale Capital Group, Inc. (NYSE:KNSL) has gained 26% year to date, trading at a P/E ratio of 28.34. Its revenue growth rate for the 12 months ended September stands at 44.19%. Bridgewater Associates increased its stake in the company by 61% to stakes worth $1.98 million in Q3 2023. 

Here is what Baron Discovery Fund said about Kinsale Capital Group, Inc. (NYSE:KNSL) in its Q3 2023 investor letter:

“Specialty insurer Kinsale Capital Group, Inc. (NYSE:KNSL) contributed to performance after reporting consensus-beating quarterly results. Gross written premiums grew 58%, and earnings per share increased 50%. Market conditions remained favorable, with rising premium rates and more business shifting from the standard lines market to the excess and surplus lines market where Kinsale operates. The company is also capitalizing on disruption in the property market, where rates are rising rapidly after years of industry losses and a reduction in reinsurance capacity. We continue to own the stock because we believe Kinsale is well managed and has a long runway for growth in an attractive segment of the insurance market.”

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