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 |
iShares MSCI Emerging Markets ETF
EEM
|
+$40.4M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$30.4M |
| 3 |
iShares MSCI Brazil ETF
EWZ
|
+$21.9M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$21.6M |
| 5 |
Intel
INTC
|
+$21.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$36.2M |
| 2 |
BCE
BCE
|
+$29.7M |
| 3 |
VIAB
Viacom Inc. Class B
VIAB
|
+$27.3M |
| 4 |
Exelon
EXC
|
+$23M |
| 5 |
PepsiCo
PEP
|
+$22.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.99% |
| 2 | Energy | 2.82% |
| 3 | Consumer Discretionary | 2.8% |
| 4 | Materials | 2.25% |
| 5 | Healthcare | 2.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Prologis
PLD
$133B
| $833K | 0.01% |
18,845
-34,700
| -65% | -$1.39M |
|
|
GGP
227
DELISTED
GGP Inc.
GGP
| $829K | 0.01% |
27,900
-57,100
| -67% | -$1.57M |
|
228
Annaly Capital Management
NLY
$17.4B
| $828K | 0.01% |
20,175
-44,075
| -69% | -$1.73M |
|
229
Welltower
WELL
$171B
| $828K | 0.01% |
11,935
-22,936
| -66% | -$1.48M |
|
230
NextEra Energy
NEE
$177B
| $813K | 0.01% |
27,472
-37,600
| -58% | -$1.06M |
|
231
Simon Property Group
SPG
$72.3B
| $798K | 0.01% |
3,842
-8,000
| -68% | -$1.54M |
|
232
Madison Square Garden
MSGS
$9.39B
| $797K | 0.01% |
6,718
| – | – |
|
|
XL
233
DELISTED
XL Group Ltd.
XL
| $793K | 0.01% |
+21,540
| New | +$766K |
|
234
Waste Management
WM
$91B
| $765K | 0.01% |
12,963
-24,000
| -65% | -$1.32M |
|
235
Southern Company
SO
$107B
| $729K | 0.01% |
+14,100
| New | +$687K |
|
236
RTX Corp
RTX
$301B
| $693K | 0.01% |
10,994
-241,528
| -96% | -$14M |
|
237
Boston Scientific
BSX
$71.5B
| $681K | 0.01% |
36,184
-52,100
| -59% | -$915K |
|
238
Hartford Financial Services
HIG
$39.3B
| $602K | 0.01% |
+13,056
| New | +$549K |
|
|
SPLK
239
DELISTED
Splunk Inc
SPLK
| $602K | 0.01% |
+12,300
| New | +$554K |
|
240
Pediatrix Medical
MD
$2.2B
| $500K | 0.01% |
+7,732
| New | +$513K |
|
241
DaVita
DVA
$11.7B
| $484K | 0.01% |
6,600
-25,345
| -79% | -$1.71M |
|
242
Abbott
ABT
$187B
| $477K | 0.01% |
11,400
-27,457
| -71% | -$1.09M |
|
243
MGM Resorts International
MGM
$11.2B
| $474K | 0.01% |
+22,100
| New | +$437K |
|
244
Allstate
ALL
$67.5B
| $424K | 0.01% |
+6,300
| New | +$396K |
|
245
AMC Global Media
AMCX
$489M
| $411K | 0.01% |
6,333
+2,354
| +59% | +$161K |
|
|
CELG
246
DELISTED
Celgene Corp
CELG
| $410K | 0.01% |
+4,100
| New | +$422K |
|
247
Whirlpool
WHR
$2.82B
| $373K | ﹤0.01% |
2,068
-67,645
| -97% | -$10.1M |
|
|
MJN
248
DELISTED
Mead Johnson Nutrition Company
MJN
| $351K | ﹤0.01% |
4,133
-19,020
| -82% | -$1.41M |
|
249
Principal Financial Group
PFG
$24.3B
| $327K | ﹤0.01% |
+8,300
| New | +$319K |
|
250
Regeneron Pharmaceuticals
REGN
$80.8B
| $324K | ﹤0.01% |
+900
| New | +$371K |
|
Similar funds
Ray Dalio's Q1 2016 Portfolio in Review
As of Q1 2016, Ray Dalio held 325 positions worth $7.9B, up 2.5% from $7.71B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Ray Dalio's Q1 2016 filing shows 62 new, 91 increased, 96 reduced and 72 closed positions. Its largest new stake was iShares MSCI Brazil ETF: 1,018,511 shares worth $26.8M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $36.2M.
By sector, the portfolio is most concentrated in Technology at 4% of assets, down from 4.1% a quarter earlier, followed by Energy and Consumer Discretionary.
- Ray Dalio's largest Q1 2016 buy was iShares MSCI Brazil ETF: 1,018,511 shares worth $26.8M.
- Ray Dalio added most to iShares MSCI Emerging Markets ETF in Q1 2016, an estimated $40.4M increase.
- Ray Dalio's biggest Q1 2016 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $36.2M.
- Ray Dalio fully exited BCE in Q1 2016, selling an estimated $29.7M.
- Ray Dalio's ten largest holdings make up 82% of its $7.9B portfolio in Q1 2016.
- Ray Dalio opened 62 new positions and closed 72 in Q1 2016.
- Ray Dalio's portfolio value rose 2.5% quarter-over-quarter to $7.9B.
Based on Bridgewater Associates's 13F filing for Q1 2016, filed 13 May 2016.