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
|
+$89.7M |
| 2 |
Cummins
CMI
|
+$35.2M |
| 3 |
Royal Bank of Canada
RY
|
+$32.9M |
| 4 |
Toll Brothers
TOL
|
+$32.7M |
| 5 |
Toronto Dominion Bank
TD
|
+$31.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$188M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$147M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76M |
| 4 |
NFX
Newfield Exploration
NFX
|
+$32.1M |
| 5 |
Procter & Gamble
PG
|
+$30.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 3.42% |
| 2 | Healthcare | 2.95% |
| 3 | Consumer Discretionary | 2.83% |
| 4 | Energy | 2.39% |
| 5 | Industrials | 2.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
New Oriental
EDU
$8.98B
| $1.28M | 0.01% |
+13,556
| New | +$1.3M |
|
227
Trip.com Group
TCOM
$29.1B
| $1.27M | 0.01% |
+26,658
| New | +$1.2M |
|
228
AMC Global Media
AMCX
$489M
| $1.25M | 0.01% |
20,131
-11,187
| -36% | -$638K |
|
229
MetLife
MET
$62.4B
| $1.25M | 0.01% |
28,655
+10,840
| +61% | +$505K |
|
|
PXD
230
DELISTED
Pioneer Natural Resource Co.
PXD
| $1.24M | 0.01% |
6,572
-254
| -4% | -$48.6K |
|
231
Ross Stores
ROST
$81.9B
| $1.24M | 0.01% |
+14,573
| New | +$1.19M |
|
232
BorgWarner
BWA
$13.9B
| $1.23M | 0.01% |
+32,334
| New | +$1.43M |
|
233
Mondelez International
MDLZ
$79.9B
| $1.19M | 0.01% |
+28,904
| New | +$1.16M |
|
234
Host Hotels & Resorts
HST
$16B
| $1.18M | 0.01% |
+56,005
| New | +$1.14M |
|
235
Charles River Laboratories
CRL
$12.8B
| $1.18M | 0.01% |
10,505
-1,740
| -14% | -$188K |
|
236
Zions Bancorporation
ZION
$10.3B
| $1.17M | 0.01% |
22,110
+507
| +2% | +$28K |
|
237
Gen Digital
GEN
$17.5B
| $1.14M | 0.01% |
55,261
+25,319
| +85% | +$608K |
|
238
Bio-Techne
TECH
$11.3B
| $1.13M | 0.01% |
30,544
-3,724
| -11% | -$142K |
|
239
Autohome
ATHM
$2.62B
| $1.1M | 0.01% |
+10,942
| New | +$1.12M |
|
240
American Express
AXP
$230B
| $1.1M | 0.01% |
11,241
-16,189
| -59% | -$1.59M |
|
241
Visa
V
$677B
| $1.1M | 0.01% |
8,313
-16,457
| -66% | -$2.12M |
|
242
JPMorgan Chase
JPM
$950B
| $1.07M | 0.01% |
10,229
-3,695
| -27% | -$405K |
|
243
Truist Financial
TFC
$64B
| $1.06M | 0.01% |
20,930
-8,789
| -30% | -$467K |
|
|
VAR
244
DELISTED
Varian Medical Systems, Inc.
VAR
| $1.03M | 0.01% |
9,062
+7,090
| +360% | +$848K |
|
245
PNC Financial Services
PNC
$101B
| $1.01M | 0.01% |
7,499
-1,501
| -17% | -$219K |
|
246
Ball Corp
BALL
$16.8B
| $962K | 0.01% |
27,063
-8,289
| -23% | -$318K |
|
247
Choice Hotels
CHH
$4.8B
| $959K | 0.01% |
12,690
-5,069
| -29% | -$407K |
|
|
CLR
248
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $955K | 0.01% |
14,753
-42
| -0.3% | -$2.71K |
|
249
Microsoft
MSFT
$3.71T
| $951K | 0.01% |
9,649
+5,387
| +126% | +$522K |
|
|
BKI
250
DELISTED
Black Knight, Inc. Common Stock
BKI
| $951K | 0.01% |
17,755
-15,698
| -47% | -$790K |
|
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Ray Dalio's Q2 2018 Portfolio in Review
As of Q2 2018, Ray Dalio held 552 positions worth $10B, down 4.6% from $10.5B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Ray Dalio's Q2 2018 filing shows 92 new, 126 increased, 226 reduced and 92 closed positions. Its largest new stake was Cummins: 235,261 shares worth $31.3M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $188M.
By sector, the portfolio is most concentrated in Financials at 3.4% of assets, up from 2% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Ray Dalio's largest Q2 2018 buy was Cummins: 235,261 shares worth $31.3M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q2 2018, an estimated $89.7M increase.
- Ray Dalio's biggest Q2 2018 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $188M.
- Ray Dalio fully exited Procter & Gamble in Q2 2018, selling an estimated $30.9M.
- Ray Dalio's ten largest holdings make up 70% of its $10B portfolio in Q2 2018.
- Ray Dalio opened 92 new positions and closed 92 in Q2 2018.
- Ray Dalio's portfolio value fell 4.6% quarter-over-quarter to $10B.
Based on Bridgewater Associates's 13F filing for Q2 2018, filed 13 Aug 2018.