Ray Dalio’s Top 5 China Stocks

4. New Oriental Education & Technology Group Inc. (NYSE:EDU)

Number of Hedge Fund Holders: 31

Bridgewater Associates’ Stake Value: $34,950,737

New Oriental Education & Technology Group Inc. (NYSE:EDU) delivers private educational services in China under the New Oriental brand. The company operates across multiple segments, including Educational Services and Test Preparation Courses, Online Education and Other Services, Overseas Study Consulting Services, and Others. In the first quarter of 2023, Ray Dalio held 905,225 shares of New Oriental Education & Technology Group Inc. (NYSE:EDU), worth approximately $35 million and representing 0.21% of the total 13F securities. 

On June 6, New Oriental Education & Technology Group Inc. (NYSE:EDU) announced an extension of its share repurchase program that was initiated in July 2022. The program will now continue for the next twelve months. As of May 31, 2023, the company had already repurchased approximately American depositary shares (ADS) worth $191 million under the program. Additionally, there is still an authorized balance of approximately $209 million available for repurchase, which can be utilized until May 31, 2024.

According to Insider Monkey’s first quarter database, 31 hedge funds were bullish on New Oriental Education & Technology Group Inc. (NYSE:EDU), compared to 36 funds in the preceding quarter. Fang Zheng’s Keywise Capital Management is the leading stakeholder of the company. 

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