Ray Dalio’s Top 5 China Stocks

3. KE Holdings Inc. (NYSE:BEKE)

Number of Hedge Fund Holders: 39

Bridgewater Associates’ Stake Value: $39,960,620

KE Holdings Inc. (NYSE:BEKE)  operates an integrated platform for housing transactions and services in China. The company’s operations are divided into four segments – Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services. On May 18, KE Holdings Inc. (NYSE:BEKE) reported a Q1 non-GAAP EPADS of $0.43 and a revenue of $2.95 billion, exceeding Wall Street estimates by $0.18 and $410 million, respectively. 

Securities filings for Q1 2023 reveal that Ray Dalio’s Bridgewater Associates held 2.12 million shares of KE Holdings Inc. (NYSE:BEKE) worth approximately $40 million. However, Dalio cut his stake in the company by 35% in the March quarter. It remains one of his top China stocks. 

According to Insider Monkey’s first quarter, 39 hedge funds were bullish on KE Holdings Inc. (NYSE:BEKE), with combined stakes worth $1.7 billion. Lei Zhang’s Hillhouse Capital Management is the largest stakeholder of the company. 

Artisan Developing World Fund made the following comment about KE Holdings Inc. (NYSE:BEKE) in its second quarter 2023 investor letter:

“Bottom contributors to performance for the quarter included real estate platform KE Holdings Inc. (NYSE:BEKE). Beike fell due to weaker industry property sales in China in April following the release of strong pent-up demand in Q1, despite accelerating revenue and very modest cost growth.”

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