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
|
+$43.1M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$36M |
| 3 |
GE Aerospace
GE
|
+$25.9M |
| 4 |
iShares MSCI South Korea ETF
EWY
|
+$24.9M |
| 5 |
Intel
INTC
|
+$23.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Brazil ETF
EWZ
|
+$159M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$152M |
| 3 |
CVS Health
CVS
|
+$43.4M |
| 4 |
WBA
Walgreens Boots Alliance
WBA
|
+$37M |
| 5 |
Oracle
ORCL
|
+$36.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 3.43% |
| 2 | Consumer Discretionary | 3.34% |
| 3 | Energy | 2.23% |
| 4 | Healthcare | 1.95% |
| 5 | Industrials | 1.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
American International
AIG
$41.3B
| $722K | 0.01% |
13,565
-57,143
| -81% | -$3.07M |
|
252
Intercontinental Exchange
ICE
$84.4B
| $722K | 0.01% |
+9,638
| New | +$725K |
|
253
Alliant Energy
LNT
$18B
| $718K | 0.01% |
16,866
+8,330
| +98% | +$358K |
|
254
EQT Corp
EQT
$32.3B
| $700K | 0.01% |
29,054
+10,616
| +58% | +$293K |
|
255
DTE Energy
DTE
$29.1B
| $695K | 0.01% |
7,487
+3,403
| +83% | +$317K |
|
256
APA Corp
APA
$13.2B
| $684K | 0.01% |
14,357
+645
| +5% | +$29K |
|
|
KL
257
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
| $683K | 0.01% |
36,041
-2,450
| -6% | -$50K |
|
258
Jefferies Financial Group
JEF
$13.1B
| $672K | 0.01% |
+34,183
| New | +$713K |
|
259
Healthpeak Properties
DOC
$14.8B
| $666K | 0.01% |
+25,308
| New | +$665K |
|
260
Alexandria Real Estate Equities
ARE
$8.56B
| $644K | 0.01% |
5,122
+655
| +15% | +$82.8K |
|
261
Allstate
ALL
$67.5B
| $631K | 0.01% |
6,393
-44,059
| -87% | -$4.3M |
|
262
Bio-Rad Laboratories Class A
BIO
$9.42B
| $631K | 0.01% |
2,016
+184
| +10% | +$57.1K |
|
263
TAL Education Group
TAL
$6.87B
| $622K | 0.01% |
24,205
| – | – |
|
264
NetApp
NTAP
$37.2B
| $620K | 0.01% |
+7,219
| New | +$596K |
|
265
Host Hotels & Resorts
HST
$16B
| $606K | 0.01% |
28,740
-27,265
| -49% | -$577K |
|
266
AngloGold Ashanti
AU
$48.7B
| $599K | 0.01% |
69,766
-8,457
| -11% | -$69.8K |
|
267
CenterPoint Energy
CNP
$26.8B
| $590K | 0.01% |
21,349
-235,419
| -92% | -$6.6M |
|
268
Starwood Property Trust
STWD
$6.09B
| $590K | 0.01% |
27,402
+1,959
| +8% | +$43.4K |
|
269
Brown-Forman Class B
BF.B
$13.1B
| $588K | 0.01% |
11,634
-26,308
| -69% | -$1.37M |
|
|
NBL
270
DELISTED
Noble Energy, Inc.
NBL
| $569K | 0.01% |
18,241
| – | – |
|
271
Wells Fargo
WFC
$264B
| $567K | 0.01% |
10,785
+5,095
| +90% | +$291K |
|
272
Delta Air Lines
DAL
$60.1B
| $561K | 0.01% |
9,709
-47,545
| -83% | -$2.62M |
|
273
Essex Property Trust
ESS
$18.5B
| $560K | 0.01% |
2,268
-1,300
| -36% | -$313K |
|
|
MOMO
274
Hello Group
MOMO
$866M
| $559K | 0.01% |
+12,772
| New | +$559K |
|
|
ANSS
275
DELISTED
Ansys
ANSS
| $558K | 0.01% |
2,991
-1,686
| -36% | -$302K |
|
Similar funds
Ray Dalio's Q3 2018 Portfolio in Review
As of Q3 2018, Ray Dalio held 523 positions worth $9.65B, down 3.5% from $10B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Ray Dalio withdrew a net $469M in Q3 2018, closing 169 positions and reducing 149 holdings. Its most notable exit was PG&E, an estimated $33M position sold in full.
By sector, the portfolio is most concentrated in Financials at 3.4% of assets, up from 3.4% a quarter earlier, followed by Consumer Discretionary and Energy.
Against the trend, Ray Dalio opened a new position in GE Aerospace worth $22.7M.
- Ray Dalio's largest Q3 2018 buy was GE Aerospace: 419,966 shares worth $22.7M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2018, an estimated $43.1M increase.
- Ray Dalio's biggest Q3 2018 reduction was iShares MSCI Brazil ETF, cutting an estimated $159M.
- Ray Dalio fully exited PG&E in Q3 2018, selling an estimated $33M.
- Ray Dalio's ten largest holdings make up 71% of its $9.65B portfolio in Q3 2018.
- Ray Dalio opened 63 new positions and closed 169 in Q3 2018.
- Ray Dalio's portfolio value fell 3.5% quarter-over-quarter to $9.65B.
Based on Bridgewater Associates's 13F filing for Q3 2018, filed 13 Nov 2018.