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 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$131M |
| 2 |
Gen Digital
GEN
|
+$20.4M |
| 3 |
Microsoft
MSFT
|
+$18.2M |
| 4 |
Intel
INTC
|
+$17M |
| 5 |
Gilead Sciences
GILD
|
+$16.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$307M |
| 2 |
American Express
AXP
|
+$18.2M |
| 3 |
PepsiCo
PEP
|
+$16.8M |
| 4 |
Intuitive Surgical
ISRG
|
+$15.6M |
| 5 |
CTXS
Citrix Systems Inc
CTXS
|
+$15.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.61% |
| 2 | Energy | 2.12% |
| 3 | Healthcare | 1.28% |
| 4 | Materials | 1.26% |
| 5 | Industrials | 1.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
301
Clorox
CLX
$12.7B
| $362K | ﹤0.01% |
+4,116
| New | +$361K |
|
302
Becton Dickinson
BDX
$48.7B
| $351K | ﹤0.01% |
3,070
-1,332
| -30% | -$146K |
|
|
GRA
303
DELISTED
W.R. Grace & Co.
GRA
| $347K | ﹤0.01% |
3,501
-5,300
| -60% | -$522K |
|
304
Liberty Global Class A
LBTYA
$3.6B
| $333K | ﹤0.01% |
9,700
-30,069
| -76% | -$1.06M |
|
305
Liberty Global Class C
LBTYK
$3.49B
| $326K | ﹤0.01% |
+9,889
| New | +$330K |
|
306
NVR
NVR
$17B
| $312K | ﹤0.01% |
272
-425
| -61% | -$478K |
|
307
Pan American Silver
PAAS
$21.6B
| $309K | ﹤0.01% |
23,977
-19,000
| -44% | -$254K |
|
|
QVCGA
308
DELISTED
QVC Group Inc Series A
QVCGA
| $309K | ﹤0.01% |
261
-156
| -37% | -$182K |
|
|
SCHW
309
Charles Schwab
SCHW
$187B
| $307K | ﹤0.01% |
+11,218
| New | +$293K |
|
310
SLB Ltd
SLB
$75B
| $301K | ﹤0.01% |
3,087
-16,100
| -84% | -$1.46M |
|
311
Halliburton
HAL
$26.6B
| $300K | ﹤0.01% |
5,100
-41,500
| -89% | -$2.22M |
|
312
State Street
STT
$50.7B
| $292K | ﹤0.01% |
+4,200
| New | +$290K |
|
313
Idexx Laboratories
IDXX
$46.2B
| $279K | ﹤0.01% |
+4,602
| New | +$274K |
|
314
Thomson Reuters
TRI
$44.1B
| $267K | ﹤0.01% |
6,721
| – | – |
|
315
Ameriprise Financial
AMP
$48.8B
| $264K | ﹤0.01% |
+2,400
| New | +$263K |
|
316
Oil States International
OIS
$491M
| $264K | ﹤0.01% |
4,683
-7,583
| -62% | -$420K |
|
317
Equifax
EFX
$21.4B
| $256K | ﹤0.01% |
+3,763
| New | +$263K |
|
318
Ralph Lauren
RL
$23.5B
| $252K | ﹤0.01% |
1,568
-50,249
| -97% | -$8.1M |
|
319
Liberty Media Series A
FWONA
$23.5B
| $248K | ﹤0.01% |
10,695
| – | – |
|
|
SDRL
320
DELISTED
Seadrill Limited Common Stock
SDRL
| $243K | ﹤0.01% |
26
| – | – |
|
321
Bristol-Myers Squibb
BMY
$132B
| $230K | ﹤0.01% |
+4,428
| New | +$236K |
|
|
SRCL
322
DELISTED
Stericycle Inc
SRCL
| $220K | ﹤0.01% |
+1,937
| New | +$224K |
|
323
Ashland
ASH
$3.5B
| $218K | ﹤0.01% |
4,476
-11,467
| -72% | -$539K |
|
324
MSCI
MSCI
$40.9B
| $218K | ﹤0.01% |
5,070
-11,800
| -70% | -$515K |
|
|
URS
325
DELISTED
URS CORP
URS
| $217K | ﹤0.01% |
4,618
-10,500
| -69% | -$508K |
|
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Ray Dalio's Q1 2014 Portfolio in Review
As of Q1 2014, Ray Dalio held 416 positions worth $12.2B, down 1.9% from $12.5B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Ray Dalio's Q1 2014 filing shows 123 new, 75 increased, 132 reduced and 77 closed positions. Its largest new stake was Berkshire Hathaway Class B: 93,308 shares worth $11.7M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $307M.
By sector, the portfolio is most concentrated in Technology at 2.6% of assets, up from 2.4% a quarter earlier, followed by Energy and Healthcare.
- Ray Dalio's largest Q1 2014 buy was Berkshire Hathaway Class B: 93,308 shares worth $11.7M.
- Ray Dalio added most to Vanguard FTSE Emerging Markets ETF in Q1 2014, an estimated $131M increase.
- Ray Dalio's biggest Q1 2014 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $307M.
- Ray Dalio fully exited American Express in Q1 2014, selling an estimated $18.2M.
- Ray Dalio's ten largest holdings make up 89% of its $12.2B portfolio in Q1 2014.
- Ray Dalio opened 123 new positions and closed 77 in Q1 2014.
- Ray Dalio's portfolio value fell 1.9% quarter-over-quarter to $12.2B.
Based on Bridgewater Associates's 13F filing for Q1 2014, filed 14 May 2014.