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 | |
|---|---|---|---|---|---|---|
|
KL
251
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
| $515K | ﹤0.01% |
+40,035
| New | +$507K |
|
252
Tesla
TSLA
$1.3T
| $514K | ﹤0.01% |
+22,605
| New | +$522K |
|
|
GAP
253
The Gap Inc
GAP
$7.37B
| $497K | ﹤0.01% |
16,827
-534,745
| -97% | -$13.1M |
|
|
TIF
254
DELISTED
Tiffany & Co.
TIF
| $492K | ﹤0.01% |
+5,358
| New | +$491K |
|
255
Teva Pharmaceuticals
TEVA
$41.2B
| $488K | ﹤0.01% |
27,700
| – | – |
|
256
American International
AIG
$41.8B
| $465K | ﹤0.01% |
+7,578
| New | +$472K |
|
257
Sibanye-Stillwater
SBSW
$7.53B
| $453K | ﹤0.01% |
107,751
-9,167
| -8% | -$46.1K |
|
258
Core Laboratories
CLB
$521M
| $436K | ﹤0.01% |
+4,417
| New | +$428K |
|
259
Prudential Financial
PRU
$41.8B
| $428K | ﹤0.01% |
4,029
-4,577
| -53% | -$489K |
|
260
Home Depot
HD
$355B
| $425K | ﹤0.01% |
+2,597
| New | +$398K |
|
261
lululemon athletica
LULU
$14.6B
| $423K | ﹤0.01% |
6,799
-68,965
| -91% | -$4.16M |
|
262
Delta Air Lines
DAL
$60.1B
| $409K | ﹤0.01% |
8,480
-30,580
| -78% | -$1.52M |
|
263
Abbott
ABT
$187B
| $407K | ﹤0.01% |
+7,623
| New | +$382K |
|
|
NGD
264
DELISTED
New Gold Inc
NGD
| $393K | ﹤0.01% |
106,168
-275,349
| -72% | -$951K |
|
|
CMA
265
DELISTED
Comerica
CMA
| $362K | ﹤0.01% |
+4,746
| New | +$340K |
|
|
TAHO
266
DELISTED
Tahoe Resources Inc
TAHO
| $354K | ﹤0.01% |
67,542
+4,093
| +6% | +$22.3K |
|
267
AES
AES
$10.5B
| $343K | ﹤0.01% |
31,128
-70,087
| -69% | -$782K |
|
268
Northern Trust
NTRS
$33.9B
| $337K | ﹤0.01% |
+3,662
| New | +$331K |
|
|
TRQ
269
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $337K | ﹤0.01% |
10,903
-26,016
| -70% | -$803K |
|
270
Kimco Realty
KIM
$16.4B
| $330K | ﹤0.01% |
+16,874
| New | +$331K |
|
|
AMTD
271
DELISTED
TD Ameritrade Holding Corp
AMTD
| $321K | ﹤0.01% |
+6,583
| New | +$295K |
|
|
PVG
272
DELISTED
PRETIUM RESOURCES INC.
PVG
| $318K | ﹤0.01% |
34,307
-8,701
| -20% | -$78K |
|
|
ANSS
273
DELISTED
Ansys
ANSS
| $315K | ﹤0.01% |
2,569
-1,196
| -32% | -$150K |
|
|
GXP
274
DELISTED
Great Plains Energy Incorporated
GXP
| $283K | ﹤0.01% |
+9,342
| New | +$286K |
|
275
Charles River Laboratories
CRL
$12.8B
| $278K | ﹤0.01% |
2,574
-4,135
| -62% | -$425K |
|
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.