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 | |
|---|---|---|---|---|---|---|
|
AUY
251
DELISTED
Yamana Gold, Inc.
AUY
| $944K | 0.01% |
325,087
+3,889
| +1% | +$11.3K |
|
252
Roper Technologies
ROP
$39.8B
| $940K | 0.01% |
+3,406
| New | +$940K |
|
253
Kilroy Realty
KRC
$4.42B
| $939K | 0.01% |
12,417
+1,664
| +15% | +$122K |
|
254
AvalonBay Communities
AVB
$26.8B
| $927K | 0.01% |
+5,391
| New | +$891K |
|
255
Global Payments
GPN
$22.8B
| $927K | 0.01% |
8,315
-5,556
| -40% | -$628K |
|
|
FISV
256
Fiserv Inc
FISV
$27.9B
| $922K | 0.01% |
12,443
-9,243
| -43% | -$671K |
|
257
Iron Mountain
IRM
$36.1B
| $917K | 0.01% |
26,186
-20,229
| -44% | -$683K |
|
258
Gartner
IT
$11.7B
| $897K | 0.01% |
6,749
-8,285
| -55% | -$1.06M |
|
259
CACI
CACI
$14.2B
| $896K | 0.01% |
5,317
-4,662
| -47% | -$752K |
|
260
Packaging Corp of America
PKG
$22.8B
| $895K | 0.01% |
8,006
-615
| -7% | -$71.8K |
|
261
TAL Education Group
TAL
$6.87B
| $891K | 0.01% |
+24,205
| New | +$952K |
|
262
Devon Energy
DVN
$47.3B
| $881K | 0.01% |
20,032
-1,222
| -6% | -$47.3K |
|
263
Essex Property Trust
ESS
$18.5B
| $853K | 0.01% |
3,568
+370
| +12% | +$88.1K |
|
264
Welltower
WELL
$171B
| $845K | 0.01% |
13,476
-185,095
| -93% | -$10.3M |
|
265
Jack Henry & Associates
JKHY
$11.1B
| $823K | 0.01% |
6,317
-7,960
| -56% | -$988K |
|
|
ANSS
266
DELISTED
Ansys
ANSS
| $815K | 0.01% |
4,677
-10,825
| -70% | -$1.8M |
|
267
AXIS Capital
AXS
$7.55B
| $815K | 0.01% |
14,649
+10,211
| +230% | +$584K |
|
|
NUAN
268
DELISTED
Nuance Communications, Inc.
NUAN
| $815K | 0.01% |
67,766
-182,673
| -73% | -$2.27M |
|
|
KL
269
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
| $815K | 0.01% |
38,491
+2,632
| +7% | +$48.3K |
|
270
Regions Financial
RF
$26.8B
| $813K | 0.01% |
45,746
-35,341
| -44% | -$662K |
|
|
CXO
271
DELISTED
CONCHO RESOURCES INC.
CXO
| $809K | 0.01% |
5,848
-132
| -2% | -$18.9K |
|
272
Fortinet
FTNT
$117B
| $804K | 0.01% |
64,355
-96,930
| -60% | -$1.15M |
|
|
WRK
273
DELISTED
WestRock Company
WRK
| $798K | 0.01% |
13,987
-1,514
| -10% | -$92.9K |
|
274
Commault Systems
CVLT
$5.61B
| $794K | 0.01% |
12,051
-17,930
| -60% | -$1.23M |
|
275
Reinsurance Group of America
RGA
$16.1B
| $794K | 0.01% |
5,951
+2,500
| +72% | +$373K |
|
Similar funds
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.