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 |
McDonald's
MCD
|
+$6.41M |
| 2 |
UnitedHealth
UNH
|
+$6.05M |
| 3 |
Lockheed Martin
LMT
|
+$6.04M |
| 4 |
Philip Morris
PM
|
+$5.55M |
| 5 |
Accenture
ACN
|
+$5.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.04B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$444M |
| 3 |
iShares Core S&P 500 ETF
IVV
|
+$277M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$226M |
| 5 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$132M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 4% |
| 2 | Financials | 2.7% |
| 3 | Industrials | 1.84% |
| 4 | Materials | 1.48% |
| 5 | Consumer Staples | 1.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
301
Erie Indemnity
ERIE
$13.2B
| $426K | 0.01% |
+2,872
| New | +$463K |
|
302
Globe Life
GL
$14.3B
| $423K | 0.01% |
+5,873
| New | +$554K |
|
|
CXO
303
DELISTED
CONCHO RESOURCES INC.
CXO
| $417K | 0.01% |
9,720
-451
| -4% | -$31.4K |
|
304
Snap
SNAP
$9.01B
| $415K | 0.01% |
34,887
-288,663
| -89% | -$4.43M |
|
305
Cooper Companies
COO
$14.5B
| $413K | 0.01% |
+5,992
| New | +$488K |
|
306
Keurig Dr Pepper
KDP
$40.8B
| $413K | 0.01% |
+17,007
| New | +$459K |
|
307
Amdocs
DOX
$6.22B
| $406K | 0.01% |
+7,392
| New | +$496K |
|
|
AGR
308
DELISTED
Avangrid, Inc.
AGR
| $405K | 0.01% |
+9,261
| New | +$466K |
|
309
Leidos
LDOS
$17.3B
| $404K | 0.01% |
+4,412
| New | +$445K |
|
310
Cardinal Health
CAH
$55.4B
| $398K | 0.01% |
+8,303
| New | +$431K |
|
311
Henry Schein
HSIC
$9.82B
| $398K | 0.01% |
+7,874
| New | +$499K |
|
312
KB Home
KBH
$3.59B
| $397K | 0.01% |
21,930
-10,421
| -32% | -$334K |
|
313
Capri Holdings
CPRI
$1.74B
| $394K | 0.01% |
36,536
-18,913
| -34% | -$497K |
|
314
Service Corp International
SCI
$11.6B
| $389K | 0.01% |
+9,936
| New | +$462K |
|
315
Arista Networks
ANET
$238B
| $382K | 0.01% |
30,160
-253,344
| -89% | -$3.29M |
|
316
Waters Corp
WAT
$39.9B
| $378K | 0.01% |
+2,074
| New | +$437K |
|
317
Evergy
EVRG
$19.2B
| $375K | 0.01% |
+6,808
| New | +$447K |
|
318
Iron Mountain
IRM
$36.1B
| $375K | 0.01% |
+15,775
| New | +$477K |
|
|
ATVI
319
DELISTED
Activision Blizzard
ATVI
| $372K | 0.01% |
6,262
-34,830
| -85% | -$2.07M |
|
320
Avery Dennison
AVY
$13.4B
| $370K | 0.01% |
+3,632
| New | +$445K |
|
|
HRC
321
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
| $370K | 0.01% |
+3,678
| New | +$381K |
|
322
Darden Restaurants
DRI
$24.4B
| $363K | 0.01% |
+6,674
| New | +$649K |
|
323
Alliant Energy
LNT
$18B
| $359K | 0.01% |
+7,442
| New | +$408K |
|
324
Air Products & Chemicals
APD
$67.6B
| $358K | 0.01% |
1,792
-10,004
| -85% | -$2.28M |
|
|
MDC
325
DELISTED
M.D.C. Holdings, Inc.
MDC
| $357K | 0.01% |
16,626
-8,165
| -33% | -$286K |
|
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Ray Dalio's Q1 2020 Portfolio in Review
As of Q1 2020, Ray Dalio held 650 positions worth $5.04B, down 49% from $9.79B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Ray Dalio withdrew a net $3.42B in Q1 2020, closing 251 positions and reducing 191 holdings. Its most notable exit was JPMorgan Chase, an estimated $90.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 4% of assets, up from 3.6% a quarter earlier, followed by Financials and Industrials.
Against the trend, Ray Dalio opened a new position in McDonald's worth $5.38M.
- Ray Dalio's largest Q1 2020 buy was McDonald's: 32,541 shares worth $5.38M.
- Ray Dalio added most to Lowe's Companies in Q1 2020, an estimated $4.7M increase.
- Ray Dalio's biggest Q1 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.04B.
- Ray Dalio fully exited JPMorgan Chase in Q1 2020, selling an estimated $90.5M.
- Ray Dalio's ten largest holdings make up 68% of its $5.04B portfolio in Q1 2020.
- Ray Dalio opened 179 new positions and closed 251 in Q1 2020.
- Ray Dalio's portfolio value fell 49% quarter-over-quarter to $5.04B.
Based on Bridgewater Associates's 13F filing for Q1 2020, filed 14 May 2020.