In just one week Bridgewater, the world’s biggest hedge fund firm, more than quadrupled how much it’s betting against European Union companies.
The firm, run by Ray Dalio, has at least $13.1 billion in shorts, or wagers that a stock will fall, according to EU regulatory filings. That’s up from the $3.2 billion it had disclosed in such bets on Feb. 1.
Bridgewater in the past week put more than $1 billion to work betting against oil giant Total SA -- making it the firm’s largest disclosed short holding in Europe. The energy titan has been riding out the biggest industry downturn in a generation by selling assets and cutting spending. The hedge fund also started a bearish Airbus SE position, investing about $381 million against the aircraft maker. Among other short positions, it disclosed wagers against BNP Paribas SA, ING Groep NV and Banco Santander SA.
Since the Feb. 8 regulatory filings, Total has fallen about 1 percent as markets slumped. Airbus, BNP Paribas, ING Groep and Banco Santander have sunk roughly 2 percent.
A spokeswoman for the Westport, Connecticut-based firm that oversees about $160 billion declined to comment. A spokesman for Airbus declined to comment. Calls to Total, BNP Paribas, ING Groep and Banco Santander weren’t immediately returned.
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