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 |
Walmart Inc
WMT
|
+$245M |
| 2 |
Procter & Gamble
PG
|
+$205M |
| 3 |
Coca-Cola
KO
|
+$129M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$128M |
| 5 |
Johnson & Johnson
JNJ
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$436M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$100M |
| 3 |
NetEase
NTES
|
+$26.7M |
| 4 |
iShares MSCI Emerging Markets ETF
EEM
|
+$25.5M |
| 5 |
Tesla
TSLA
|
+$15.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 23.66% |
| 2 | Consumer Discretionary | 13.07% |
| 3 | Healthcare | 9.52% |
| 4 | Technology | 3.33% |
| 5 | Financials | 3.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Performance Food Group
PFGC
$18B
| $3.76M | 0.03% |
+78,979
| New | +$3.33M |
|
227
Ameriprise Financial
AMP
$48.8B
| $3.75M | 0.03% |
+19,319
| New | +$3.46M |
|
228
Ball Corp
BALL
$16.8B
| $3.75M | 0.03% |
40,207
+9,363
| +30% | +$866K |
|
229
Cummins
CMI
$88.7B
| $3.75M | 0.03% |
16,495
+4,944
| +43% | +$1.11M |
|
230
HubSpot
HUBS
$10.5B
| $3.74M | 0.03% |
9,442
-3,155
| -25% | -$1.11M |
|
|
FRC
231
DELISTED
First Republic Bank
FRC
| $3.72M | 0.03% |
+25,329
| New | +$3.3M |
|
232
C.H. Robinson
CHRW
$17.5B
| $3.71M | 0.03% |
39,502
-3,614
| -8% | -$345K |
|
233
Penumbra
PEN
$12.8B
| $3.69M | 0.03% |
21,078
+12,637
| +150% | +$2.77M |
|
234
Boeing
BA
$185B
| $3.63M | 0.03% |
+16,970
| New | +$3.26M |
|
235
Corning
GLW
$143B
| $3.63M | 0.03% |
100,901
+28,346
| +39% | +$1.01M |
|
236
Microchip Technology
MCHP
$46B
| $3.63M | 0.03% |
52,508
+14,096
| +37% | +$878K |
|
|
SIVB
237
DELISTED
SVB Financial Group
SIVB
| $3.61M | 0.03% |
+9,319
| New | +$3.02M |
|
|
FITB
238
Fifth Third Bancorp
FITB
$51.8B
| $3.61M | 0.03% |
+130,814
| New | +$3.3M |
|
239
Nucor
NUE
$62.1B
| $3.57M | 0.03% |
67,191
-57,429
| -46% | -$2.97M |
|
240
Motorola Solutions
MSI
$77.4B
| $3.54M | 0.03% |
20,830
+4,774
| +30% | +$801K |
|
|
DAY
241
DELISTED
Dayforce
DAY
| $3.52M | 0.03% |
33,046
-7,456
| -18% | -$704K |
|
242
Packaging Corp of America
PKG
$22.8B
| $3.5M | 0.03% |
25,359
-13,265
| -34% | -$1.67M |
|
243
Fair Isaac
FICO
$22.5B
| $3.42M | 0.03% |
6,700
-5,111
| -43% | -$2.38M |
|
244
Quanta Services
PWR
$101B
| $3.42M | 0.03% |
47,479
-9,355
| -16% | -$617K |
|
245
Oracle
ORCL
$423B
| $3.35M | 0.03% |
+51,817
| New | +$3.08M |
|
246
Keysight
KEYS
$58.3B
| $3.33M | 0.03% |
25,231
+7,547
| +43% | +$869K |
|
|
NOAH
247
Noah Holdings
NOAH
$603M
| $3.32M | 0.03% |
69,436
+4,167
| +6% | +$135K |
|
248
Arthur J. Gallagher & Co
AJG
$63.6B
| $3.26M | 0.03% |
+26,347
| New | +$3M |
|
249
PACCAR
PCAR
$70.1B
| $3.17M | 0.03% |
55,112
+14,523
| +36% | +$853K |
|
250
Deckers Outdoor
DECK
$13.3B
| $3.13M | 0.03% |
65,538
-2,934
| -4% | -$130K |
|
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Ray Dalio's Q4 2020 Portfolio in Review
As of Q4 2020, Ray Dalio held 599 positions worth $11.6B, up 39% from $8.31B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Ray Dalio deployed $2.24B of net new capital in Q4 2020, opening 169 new positions and adding to 233 existing holdings. Its largest new stake was JPMorgan Chase: 412,755 shares worth $52.4M.
By sector, the portfolio is most concentrated in Consumer Staples at 24% of assets, up from 15% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was SPDR Gold Trust, an estimated $436M trimmed.
- Ray Dalio's largest Q4 2020 buy was JPMorgan Chase: 412,755 shares worth $52.4M.
- Ray Dalio added most to Walmart Inc in Q4 2020, an estimated $245M increase.
- Ray Dalio's biggest Q4 2020 reduction was SPDR Gold Trust, cutting an estimated $436M.
- Ray Dalio fully exited Tesla in Q4 2020, selling an estimated $15.3M.
- Ray Dalio's ten largest holdings make up 43% of its $11.6B portfolio in Q4 2020.
- Ray Dalio opened 169 new positions and closed 74 in Q4 2020.
- Ray Dalio's portfolio value rose 39% quarter-over-quarter to $11.6B.
Based on Bridgewater Associates's 13F filing for Q4 2020, filed 12 Feb 2021.