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 India ETF
INDA
|
+$105M |
| 2 |
SWN
Southwestern Energy Company
SWN
|
+$47.9M |
| 3 |
Kroger
KR
|
+$42.8M |
| 4 |
Bread Financial
BFH
|
+$42.8M |
| 5 |
Carnival Corporation Ltd
CCL
|
+$42.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.95B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.1B |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$907M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$342M |
| 5 |
Bristol-Myers Squibb
BMY
|
+$47.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 4.47% |
| 2 | Financials | 2.86% |
| 3 | Energy | 2.75% |
| 4 | Industrials | 1.72% |
| 5 | Healthcare | 1.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Church & Dwight Co
CHD
$24.5B
| $1.4M | 0.01% |
+19,111
| New | +$1.42M |
|
227
Edwards Lifesciences
EW
$51.7B
| $1.38M | 0.01% |
+22,401
| New | +$1.35M |
|
|
KL
228
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
| $1.35M | 0.01% |
31,352
-1,629
| -5% | -$56.5K |
|
229
BlackBerry
BB
$5.26B
| $1.34M | 0.01% |
180,009
| – | – |
|
230
FedEx
FDX
$75.4B
| $1.32M | 0.01% |
8,070
-136,276
| -94% | -$23.9M |
|
231
GDS Holdings
GDS
$6.41B
| $1.29M | 0.01% |
34,473
+25,768
| +296% | +$938K |
|
232
McCormick & Company Non-Voting
MKC
$14.2B
| $1.27M | 0.01% |
+16,338
| New | +$1.26M |
|
233
UDR
UDR
$12.3B
| $1.25M | 0.01% |
+27,912
| New | +$1.26M |
|
234
Parker-Hannifin
PH
$135B
| $1.25M | 0.01% |
7,345
-44,024
| -86% | -$7.59M |
|
|
APC
235
DELISTED
Anadarko Petroleum
APC
| $1.13M | 0.01% |
15,953
-29,180
| -65% | -$1.96M |
|
|
SINA
236
DELISTED
Sina Corp
SINA
| $1.08M | 0.01% |
25,167
+17,555
| +231% | +$920K |
|
237
NNN REIT
NNN
$8.99B
| $1.07M | 0.01% |
+20,120
| New | +$1.07M |
|
238
AngloGold Ashanti
AU
$48.7B
| $1.05M | 0.01% |
59,238
-6,017
| -9% | -$80.8K |
|
239
Royal Gold
RGLD
$19.5B
| $994K | 0.01% |
9,699
-116
| -1% | -$10.4K |
|
240
Oracle
ORCL
$423B
| $990K | 0.01% |
17,372
-31,073
| -64% | -$1.68M |
|
241
Diamondback Energy
FANG
$52.7B
| $937K | 0.01% |
+8,595
| New | +$897K |
|
|
JOYY
242
JOYY Inc
JOYY
$3.75B
| $889K | 0.01% |
12,761
+8,992
| +239% | +$686K |
|
243
Federal Realty Investment Trust
FRT
$10.3B
| $844K | 0.01% |
+6,551
| New | +$869K |
|
244
W.P. Carey
WPC
$16.4B
| $827K | 0.01% |
+10,406
| New | +$824K |
|
245
Regeneron Pharmaceuticals
REGN
$80.8B
| $743K | 0.01% |
+2,375
| New | +$791K |
|
246
Extra Space Storage
EXR
$31.6B
| $683K | 0.01% |
+6,434
| New | +$676K |
|
247
Gold Fields
GFI
$36.5B
| $645K | 0.01% |
+119,254
| New | +$509K |
|
248
Devon Energy
DVN
$47.3B
| $629K | ﹤0.01% |
22,040
-186,682
| -89% | -$5.55M |
|
249
Moody's
MCO
$82.7B
| $620K | ﹤0.01% |
+3,177
| New | +$603K |
|
|
VRN
250
DELISTED
Veren
VRN
| $614K | ﹤0.01% |
185,233
| – | – |
|
Similar funds
Ray Dalio's Q2 2019 Portfolio in Review
As of Q2 2019, Ray Dalio held 380 positions worth $12.8B, down 22% from $16.3B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Ray Dalio withdrew a net $3.62B in Q2 2019, closing 75 positions and reducing 91 holdings. Its most notable exit was Bristol-Myers Squibb, an estimated $47.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 4.5% of assets, up from 2.1% a quarter earlier, followed by Financials and Energy.
Against the trend, Ray Dalio opened a new position in iShares China Large-Cap ETF worth $30.6M.
- Ray Dalio's largest Q2 2019 buy was iShares China Large-Cap ETF: 716,186 shares worth $30.6M.
- Ray Dalio added most to iShares MSCI India ETF in Q2 2019, an estimated $105M increase.
- Ray Dalio's biggest Q2 2019 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $1.95B.
- Ray Dalio fully exited Bristol-Myers Squibb in Q2 2019, selling an estimated $47.2M.
- Ray Dalio's ten largest holdings make up 69% of its $12.8B portfolio in Q2 2019.
- Ray Dalio opened 77 new positions and closed 75 in Q2 2019.
- Ray Dalio's portfolio value fell 22% quarter-over-quarter to $12.8B.
Based on Bridgewater Associates's 13F filing for Q2 2019, filed 13 Aug 2019.