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 | |
|---|---|---|---|---|---|---|
|
AUY
301
DELISTED
Yamana Gold, Inc.
AUY
| $372K | ﹤0.01% |
149,216
-175,871
| -54% | -$488K |
|
302
Gentex
GNTX
$5.07B
| $368K | ﹤0.01% |
17,148
+1,936
| +13% | +$44.8K |
|
303
AGNC Investment
AGNC
$12.9B
| $367K | ﹤0.01% |
+19,703
| New | +$376K |
|
|
JOBS
304
DELISTED
51job Inc
JOBS
| $362K | ﹤0.01% |
+4,704
| New | +$376K |
|
305
B2Gold
BTG
$6.64B
| $361K | ﹤0.01% |
158,887
-24,322
| -13% | -$57.7K |
|
306
Vipshop
VIPS
$7.53B
| $340K | ﹤0.01% |
54,516
+41,858
| +331% | +$344K |
|
307
Federal Realty Investment Trust
FRT
$10.3B
| $339K | ﹤0.01% |
2,677
-1,710
| -39% | -$217K |
|
308
SEI Investments
SEIC
$12.6B
| $337K | ﹤0.01% |
5,516
-477
| -8% | -$29.6K |
|
309
RPM International
RPM
$15B
| $332K | ﹤0.01% |
5,120
-115
| -2% | -$7.41K |
|
310
Iron Mountain
IRM
$36.1B
| $329K | ﹤0.01% |
9,520
-16,666
| -64% | -$594K |
|
311
Choice Hotels
CHH
$4.8B
| $319K | ﹤0.01% |
3,832
-8,858
| -70% | -$694K |
|
312
Hyatt Hotels
H
$16.7B
| $317K | ﹤0.01% |
3,986
-31,419
| -89% | -$2.47M |
|
313
H&R Block
HRB
$5.86B
| $286K | ﹤0.01% |
+11,122
| New | +$282K |
|
314
Jacobs Solutions
J
$17B
| $276K | ﹤0.01% |
4,356
-10,597
| -71% | -$622K |
|
|
FLIR
315
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $275K | ﹤0.01% |
4,474
-24,766
| -85% | -$1.46M |
|
316
Regency Centers
REG
$14.1B
| $274K | ﹤0.01% |
4,230
-4,746
| -53% | -$303K |
|
317
PACCAR
PCAR
$70.1B
| $273K | ﹤0.01% |
6,008
-109,263
| -95% | -$4.82M |
|
318
Allegion
ALLE
$14.4B
| $271K | ﹤0.01% |
2,989
-7,044
| -70% | -$594K |
|
319
Roper Technologies
ROP
$39.8B
| $271K | ﹤0.01% |
914
-2,492
| -73% | -$735K |
|
|
BKI
320
DELISTED
Black Knight, Inc. Common Stock
BKI
| $270K | ﹤0.01% |
5,188
-12,567
| -71% | -$674K |
|
321
GDS Holdings
GDS
$6.41B
| $266K | ﹤0.01% |
+7,572
| New | +$272K |
|
|
TPH
322
DELISTED
Tri Pointe Homes
TPH
| $264K | ﹤0.01% |
21,311
-26,537
| -55% | -$393K |
|
|
JOYY
323
JOYY Inc
JOYY
$3.75B
| $264K | ﹤0.01% |
3,521
+571
| +19% | +$48K |
|
324
KBR
KBR
$4.8B
| $263K | ﹤0.01% |
12,464
-30,291
| -71% | -$603K |
|
325
Lennox International
LII
$15.2B
| $263K | ﹤0.01% |
1,206
-2,749
| -70% | -$599K |
|
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.