Bridgewater Associates, the $150 billion hedge fund founded by Ray Dalio, bought 84,629 shares of Alibaba in the second quarter, worth $15.7 million, according to regulatory documents filed Tuesday. A back of the envelope calculation shows the stake was established at an average price of $185.52. Alibaba is one of the market's most heavily traded tech stocks and part of the "FAANG+BAT" basket, which also includes Facebook, Amazon, Apple, Netflix, Google, and Chinese tech giants Baidu and Tencent. Bridgewater's buying of Alibaba shouldn't come as a surprise.