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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$146M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$95.4M |
| 3 |
HP
HPQ
|
+$20.2M |
| 4 |
IBM
IBM
|
+$17.3M |
| 5 |
Ralph Lauren
RL
|
+$14.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$285M |
| 2 |
F5
FFIV
|
+$22.3M |
| 3 |
ANDV
Andeavor
ANDV
|
+$20.1M |
| 4 |
Franklin Resources
BEN
|
+$18.3M |
| 5 |
Cognizant
CTSH
|
+$17.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.18% |
| 2 | Energy | 1.76% |
| 3 | Healthcare | 1.18% |
| 4 | Consumer Discretionary | 1.12% |
| 5 | Materials | 0.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
United Rentals
URI
$72.4B
| $670K | 0.01% |
11,500
+6,500
| +130% | +$361K |
|
|
LM
252
DELISTED
Legg Mason, Inc.
LM
| $660K | 0.01% |
+19,733
| New | +$661K |
|
|
CHS
253
DELISTED
Chicos FAS, Inc.
CHS
| $653K | 0.01% |
+39,201
| New | +$646K |
|
254
Constellation Brands
STZ
$23.2B
| $650K | 0.01% |
+11,325
| New | +$616K |
|
255
Community Health Systems
CYH
$423M
| $649K | 0.01% |
+18,910
| New | +$671K |
|
256
Goodyear
GT
$1.85B
| $649K | 0.01% |
+28,918
| New | +$553K |
|
|
ENDP
257
DELISTED
Endo International plc
ENDP
| $649K | 0.01% |
+14,272
| New | +$574K |
|
|
WOOF
258
DELISTED
VCA Inc.
WOOF
| $648K | 0.01% |
+23,600
| New | +$660K |
|
259
Kimberly-Clark
KMB
$36.5B
| $646K | 0.01% |
+7,153
| New | +$663K |
|
|
ETFC
260
DELISTED
E*Trade Financial Corporation
ETFC
| $646K | 0.01% |
+39,173
| New | +$584K |
|
|
BEAV
261
DELISTED
B/E Aerospace Inc
BEAV
| $646K | 0.01% |
+12,085
| New | +$614K |
|
|
BRCD
262
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
| $644K | 0.01% |
79,987
+69,400
| +656% | +$497K |
|
263
Flex
FLEX
$44.8B
| $640K | 0.01% |
+93,415
| New | +$615K |
|
264
AutoZone
AZO
$51.1B
| $638K | 0.01% |
1,510
-19,600
| -93% | -$8.39M |
|
265
SLB Ltd
SLB
$75B
| $635K | 0.01% |
7,187
-6,700
| -48% | -$550K |
|
266
Equity Residential
EQR
$25.1B
| $629K | 0.01% |
11,734
+3,200
| +37% | +$176K |
|
267
Monster Beverage
MNST
$88.5B
| $622K | 0.01% |
+71,400
| New | +$705K |
|
|
FITB
268
Fifth Third Bancorp
FITB
$51.8B
| $617K | 0.01% |
34,200
+12,500
| +58% | +$235K |
|
|
LXK
269
DELISTED
Lexmark Intl Inc
LXK
| $612K | 0.01% |
+18,545
| New | +$657K |
|
|
NUAN
270
DELISTED
Nuance Communications, Inc.
NUAN
| $610K | 0.01% |
+37,697
| New | +$624K |
|
271
Nabors Industries
NBR
$1.21B
| $600K | 0.01% |
+747
| New | +$587K |
|
272
Liberty Global Class A
LBTYA
$3.6B
| $595K | 0.01% |
+18,187
| New | +$588K |
|
|
CYT
273
DELISTED
CYTEC INDS INC
CYT
| $594K | 0.01% |
+14,600
| New | +$567K |
|
274
Cheniere Energy
LNG
$52.9B
| $593K | 0.01% |
+17,378
| New | +$516K |
|
|
CSC
275
DELISTED
Computer Sciences
CSC
| $591K | 0.01% |
+27,100
| New | +$570K |
|
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Ray Dalio's Q3 2013 Portfolio in Review
As of Q3 2013, Ray Dalio held 443 positions worth $11.9B, up 3.9% from $11.4B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Ray Dalio's Q3 2013 filing shows 120 new, 86 increased, 103 reduced and 132 closed positions. Its largest new stake was HP: 1,832,945 shares worth $17.5M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $285M.
By sector, the portfolio is most concentrated in Technology at 2.2% of assets, down from 2.5% a quarter earlier, followed by Energy and Healthcare.
- Ray Dalio's largest Q3 2013 buy was HP: 1,832,945 shares worth $17.5M.
- Ray Dalio added most to State Street SPDR S&P 500 ETF Trust in Q3 2013, an estimated $146M increase.
- Ray Dalio's biggest Q3 2013 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $285M.
- Ray Dalio fully exited Andeavor in Q3 2013, selling an estimated $20.1M.
- Ray Dalio's ten largest holdings make up 91% of its $11.9B portfolio in Q3 2013.
- Ray Dalio opened 120 new positions and closed 132 in Q3 2013.
- Ray Dalio's portfolio value rose 3.9% quarter-over-quarter to $11.9B.
Based on Bridgewater Associates's 13F filing for Q3 2013, filed 13 Nov 2013.