Ray Dalio Bridgewater Associates
Ray Dalio is the founder of Bridgewater Associates, one of the world’s largest hedge funds, known for its unique “principles-based” culture and systematic investment approach. Dalio’s investment philosophy emphasizes diversified portfolios, risk parity, and the importance of understanding economic cycles in shaping investment decisions. He has authored several books, including “Principles: Life & Work,” in which he details his management philosophies, personal experiences, and life lessons.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gen Digital
GEN
|
+$26M |
| 2 |
Eastman Chemical
EMN
|
+$24.8M |
| 3 |
The Mosaic Company
MOS
|
+$24.7M |
| 4 |
Kohl's
KSS
|
+$24.3M |
| 5 |
ESV
Ensco Rowan plc
ESV
|
+$23.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.65B |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$906M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$46.7M |
| 4 |
Apple
AAPL
|
+$30.1M |
| 5 |
Chipotle Mexican Grill
CMG
|
+$17.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.22% |
| 2 | Materials | 3.47% |
| 3 | Consumer Discretionary | 3.19% |
| 4 | Energy | 2.92% |
| 5 | Communication Services | 2.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Automatic Data Processing
ADP
$108B
| $1.18M | 0.02% |
14,666
-30,360
| -67% | -$2.43M |
|
|
DNY
227
DELISTED
DONNELLEY R R & SONS CO
DNY
| $1.18M | 0.02% |
+80,800
| New | +$1.18M |
|
228
Cognizant
CTSH
$26B
| $1.16M | 0.02% |
18,496
+11,800
| +176% | +$741K |
|
229
Bristol-Myers Squibb
BMY
$132B
| $1.16M | 0.02% |
+19,528
| New | +$1.24M |
|
|
NGD
230
DELISTED
New Gold Inc
NGD
| $1.14M | 0.02% |
509,400
-10,500
| -2% | -$24.3K |
|
231
Revvity
RVTY
$12.8B
| $1.14M | 0.02% |
+24,716
| New | +$1.23M |
|
232
John Wiley & Sons Class A
WLY
$2.66B
| $1.13M | 0.02% |
+22,647
| New | +$1.18M |
|
233
Leggett & Platt
LEG
$1.31B
| $1.1M | 0.01% |
+26,727
| New | +$1.25M |
|
234
Fortune Brands Innovations
FBIN
$6.06B
| $1.1M | 0.01% |
+27,121
| New | +$1.12M |
|
235
Avery Dennison
AVY
$13.4B
| $1.09M | 0.01% |
+19,302
| New | +$1.16M |
|
236
Citigroup
C
$226B
| $1.06M | 0.01% |
+21,322
| New | +$1.16M |
|
237
Waters Corp
WAT
$39.9B
| $1.05M | 0.01% |
8,904
+5,239
| +143% | +$663K |
|
238
Madison Square Garden
MSGS
$9.39B
| $1.04M | 0.01% |
20,158
+15,562
| +339% | +$856K |
|
239
Universal Health Services
UHS
$10.5B
| $1.02M | 0.01% |
+8,200
| New | +$1.14M |
|
240
International Flavors & Fragrances
IFF
$21.9B
| $1.02M | 0.01% |
+9,863
| New | +$1.09M |
|
241
Arrow Electronics
ARW
$10.4B
| $985K | 0.01% |
+17,826
| New | +$990K |
|
242
Raymond James Financial
RJF
$34B
| $976K | 0.01% |
+29,486
| New | +$1.09M |
|
243
Henry Schein
HSIC
$9.82B
| $960K | 0.01% |
+18,449
| New | +$1.02M |
|
244
American Electric Power
AEP
$68.4B
| $945K | 0.01% |
16,616
-77,800
| -82% | -$4.32M |
|
245
Factset
FDS
$10.2B
| $943K | 0.01% |
+5,900
| New | +$965K |
|
246
Ross Stores
ROST
$81.9B
| $940K | 0.01% |
19,400
-7,892
| -29% | -$403K |
|
247
Roper Technologies
ROP
$39.8B
| $922K | 0.01% |
+5,887
| New | +$973K |
|
|
ANSS
248
DELISTED
Ansys
ANSS
| $913K | 0.01% |
+10,361
| New | +$952K |
|
249
SEI Investments
SEIC
$12.6B
| $878K | 0.01% |
+18,196
| New | +$926K |
|
|
HBI
250
DELISTED
Hanesbrands
HBI
| $857K | 0.01% |
+29,600
| New | +$917K |
|
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Ray Dalio's Q3 2015 Portfolio in Review
As of Q3 2015, Ray Dalio held 516 positions worth $7.47B, down 31% from $10.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Ray Dalio withdrew a net $1.81B in Q3 2015, closing 86 positions and reducing 67 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 4.2% of assets, up from 2.2% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Wynn Resorts worth $12.7M.
- Ray Dalio's largest Q3 2015 buy was Wynn Resorts: 239,500 shares worth $12.7M.
- Ray Dalio added most to Gen Digital in Q3 2015, an estimated $26M increase.
- Ray Dalio's biggest Q3 2015 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $1.65B.
- Ray Dalio fully exited Chipotle Mexican Grill in Q3 2015, selling an estimated $17.4M.
- Ray Dalio's ten largest holdings make up 76% of its $7.47B portfolio in Q3 2015.
- Ray Dalio opened 210 new positions and closed 86 in Q3 2015.
- Ray Dalio's portfolio value fell 31% quarter-over-quarter to $7.47B.
Based on Bridgewater Associates's 13F filing for Q3 2015, filed 12 Nov 2015.