Ray Dalio’s Top 5 China Stocks

2. Trip.com Group Limited (NASDAQ:TCOM)

Number of Hedge Fund Holders: 41

Bridgewater Associates’ Stake Value: $41,090,323

Trip.com Group Limited (NASDAQ:TCOM) is a Chinese travel service provider that operates globally, offering services including accommodation reservation, transportation ticketing, packaged tours, in-destination activities, corporate travel management, and other travel-related solutions. Ray Dalio owned 1 million shares of Trip.com Group Limited (NASDAQ:TCOM) worth $41 million, making it one of his top China stock picks. The billionaire trimmed his position in the company by 42% in Q1 2023. 

On June 8, Trip.com Group Limited (NASDAQ:TCOM) reported a Q1 non-GAAP EPADS of $0.45 and a revenue of $1.3 billion, outperforming Wall Street estimates by $0.19 and $140 million, respectively. 

According to Insider Monkey’s first quarter database, 41 hedge funds were bullish on Trip.com Group Limited (NASDAQ:TCOM), compared to 36 funds in the prior quarter. Richard S. Pzena’s Pzena Investment Management is the largest stakeholder of the company, with 7.8 million shares worth $297 million. 

Artisan International Value Fund made the following comment about Trip.com Group Limited (NASDAQ:TCOM) in its Q4 2022 investor letter:

“Trip.com Group Limited (NASDAQ:TCOM), a Chinese online travel agency, was the second-largest contributor to return in 2022. Trip.com is the dominant supplier of online travel reservations and is expected to benefit from China’s loosening COVID-19 restrictions on both domestic and international travel. Management of Trip.com has wisely spent the COVID-19 lockdown period reinforcing and improving the company’s market position and reducing unnecessary costs. We expect earnings to boom over the next year as travel picks up. Other investors appeared to agree, pushing the share price up 42% in 2022.”

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