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 Core MSCI Emerging Markets ETF
IEMG
|
+$949M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$409M |
| 3 |
SPDR Gold Trust
GLD
|
+$403M |
| 4 |
iShares MSCI Emerging Markets ETF
EEM
|
+$392M |
| 5 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$171M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI South Korea ETF
EWY
|
+$92.2M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$27.9M |
| 3 |
CHK
Chesapeake Energy Corporation
CHK
|
+$26.1M |
| 4 |
SWN
Southwestern Energy Company
SWN
|
+$24.4M |
| 5 |
Intel
INTC
|
+$21.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 1.98% |
| 2 | Healthcare | 1.54% |
| 3 | Financials | 1.2% |
| 4 | Technology | 1.1% |
| 5 | Energy | 1.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Aptiv
APTV
$10.3B
| $886K | 0.01% |
+9,001
| New | +$849K |
|
227
UnitedHealth
UNH
$370B
| $880K | 0.01% |
4,492
-865
| -16% | -$167K |
|
228
APA Corp
APA
$13.3B
| $879K | 0.01% |
19,198
-3,999
| -17% | -$176K |
|
|
SCHW
229
Charles Schwab
SCHW
$187B
| $854K | 0.01% |
+19,522
| New | +$811K |
|
230
F5
FFIV
$22.7B
| $841K | 0.01% |
+6,974
| New | +$842K |
|
|
HES
231
DELISTED
Hess
HES
| $767K | 0.01% |
16,357
-3,146
| -16% | -$133K |
|
232
Alliant Energy
LNT
$18B
| $758K | 0.01% |
18,232
+10,213
| +127% | +$425K |
|
|
CLR
233
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $749K | 0.01% |
19,395
-3,834
| -17% | -$130K |
|
234
Ameren
AEE
$30.1B
| $740K | 0.01% |
12,791
+3,891
| +44% | +$225K |
|
|
NBL
235
DELISTED
Noble Energy, Inc.
NBL
| $728K | ﹤0.01% |
25,663
-4,820
| -16% | -$127K |
|
236
AngloGold Ashanti
AU
$48.7B
| $715K | ﹤0.01% |
77,014
-12,828
| -14% | -$124K |
|
237
Federal Realty Investment Trust
FRT
$10.3B
| $676K | ﹤0.01% |
+5,445
| New | +$700K |
|
|
CTRA
238
DELISTED
Coterra Energy
CTRA
| $670K | ﹤0.01% |
25,052
-3,303
| -12% | -$83.9K |
|
239
Gold Fields
GFI
$36.5B
| $666K | ﹤0.01% |
154,549
-28,167
| -15% | -$115K |
|
|
GGP
240
DELISTED
GGP Inc.
GGP
| $657K | ﹤0.01% |
+31,656
| New | +$693K |
|
241
Eldorado Gold
EGO
$9.89B
| $654K | ﹤0.01% |
59,666
-5,309
| -8% | -$57.9K |
|
|
AIV
242
Aimco
AIV
$383M
| $618K | ﹤0.01% |
105,808
-41,903
| -28% | -$250K |
|
243
EQT Corp
EQT
$32.3B
| $603K | ﹤0.01% |
16,976
-2,355
| -12% | -$80.1K |
|
|
HBI
244
DELISTED
Hanesbrands
HBI
| $603K | ﹤0.01% |
+24,463
| New | +$587K |
|
|
WRK
245
DELISTED
WestRock Company
WRK
| $590K | ﹤0.01% |
+10,396
| New | +$593K |
|
246
Ingredion
INGR
$6.58B
| $583K | ﹤0.01% |
+4,830
| New | +$589K |
|
|
MRO
247
DELISTED
Marathon Oil Corporation
MRO
| $577K | ﹤0.01% |
42,572
-10,149
| -19% | -$120K |
|
|
XEC
248
DELISTED
CIMAREX ENERGY CO
XEC
| $564K | ﹤0.01% |
4,960
-82,392
| -94% | -$8.22M |
|
249
Cooper Companies
COO
$14.5B
| $544K | ﹤0.01% |
+9,172
| New | +$561K |
|
250
B2Gold
BTG
$6.7B
| $515K | ﹤0.01% |
187,188
-59,424
| -24% | -$157K |
|
Similar funds
Ray Dalio's Q3 2017 Portfolio in Review
As of Q3 2017, Ray Dalio held 426 positions worth $14.9B, up 37% from $10.9B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Ray Dalio deployed $3.33B of net new capital in Q3 2017, opening 83 new positions and adding to 81 existing holdings. Its largest new stake was Quest Diagnostics: 208,121 shares worth $19.5M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 2% of assets, down from 2.4% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was iShares MSCI South Korea ETF, an estimated $92.2M trimmed.
- Ray Dalio's largest Q3 2017 buy was Quest Diagnostics: 208,121 shares worth $19.5M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2017, an estimated $949M increase.
- Ray Dalio's biggest Q3 2017 reduction was iShares MSCI South Korea ETF, cutting an estimated $92.2M.
- Ray Dalio fully exited Chesapeake Energy Corporation in Q3 2017, selling an estimated $26.1M.
- Ray Dalio's ten largest holdings make up 82% of its $14.9B portfolio in Q3 2017.
- Ray Dalio opened 83 new positions and closed 140 in Q3 2017.
- Ray Dalio's portfolio value rose 37% quarter-over-quarter to $14.9B.
Based on Bridgewater Associates's 13F filing for Q3 2017, filed 13 Nov 2017.