Billionaire investor Ray Dalio's Bridgewater Associates took a new stake in Tesla (NASDAQ:TSLA), dumped its positions in Micron Technology (NASDAQ:MU) and Goldman Sachs (NYSE:GS), more than quintupled its holdings in AT&T (T) and nearly exited Applied Materials (AMAT) in Q4 2024, among other moves.

Bridgewater disclosed the information in its latest 13F filing for the three months ended December 31, 2024, published on Thursday.

The fund picked up 153.6K shares in the Elon Musk-led electric vehicle maker. It also took new stakes of 56.4K shares in workflow digitization platform ServiceNow (NOW), 605.8K shares in vaccine maker Moderna (MRNA) and 704.1K shares in utility PPL (PPL).

Dalio's Bridgewater exited its stakes in memory chipmaker Micron (NASDAQ:MU) and number six U.S. bank by assets Goldman Sachs (NYSE:GS). It also exited video game publisher Electronic Arts (EA) and the world's largest music streaming company, Spotify (SPOT).

The hedge fund significantly raised its stake in telecom major AT&T (T) to 6.48M shares in Q4 from 1.29M in Q3. Additionally, it nearly doubled its position in payment technology firm PayPal (PYPL) to 2.36M shares. Other increases include an 85.6% surge in marketing company AppLovin (APP) to 492.9K class A shares, and a 58.9% jump in power generator Vistra (VST) to 1.77M shares.

Turning to stake cuts, the most notable trim was in Applied Materials (AMAT). Bridgewater decreased its position in the largest U.S. semiconductor equipment maker by 97.2% to 16.5K shares.

It also slashed its holdings in retail giant Walmart (WMT) by 72.6% to 779.5K shares, in Tide and Gillette owner Procter & Gamble (PG) by 72.5% to 439.6K shares, in the world's largest soft drinks company Coca-Cola (KO) by 68.5% to 702.3K shares, and in pharmaceutical major Johnson & Johnson (JNJ) by 63.4% to 537.9K shares.

Ray Dalio's Bridgewater is one of the largest hedge funds in the world. According to Forbes, Dalio's real time net worth is $14B.