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 |
Walmart Inc
WMT
|
+$245M |
| 2 |
Procter & Gamble
PG
|
+$205M |
| 3 |
Coca-Cola
KO
|
+$129M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$128M |
| 5 |
Johnson & Johnson
JNJ
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$436M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$100M |
| 3 |
NetEase
NTES
|
+$26.7M |
| 4 |
iShares MSCI Emerging Markets ETF
EEM
|
+$25.5M |
| 5 |
Tesla
TSLA
|
+$15.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 23.66% |
| 2 | Consumer Discretionary | 13.07% |
| 3 | Healthcare | 9.52% |
| 4 | Technology | 3.33% |
| 5 | Financials | 3.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Acuity Brands
AYI
$10.8B
| $1.72M | 0.01% |
14,212
-2,109
| -13% | -$226K |
|
327
PTC
PTC
$16B
| $1.71M | 0.01% |
14,279
+3,319
| +30% | +$330K |
|
328
Bausch Health
BHC
$2.34B
| $1.63M | 0.01% |
+78,814
| New | +$1.47M |
|
|
CDK
329
DELISTED
CDK Global, Inc.
CDK
| $1.63M | 0.01% |
31,363
-18,125
| -37% | -$860K |
|
330
Monolithic Power Systems
MPWR
$68.9B
| $1.62M | 0.01% |
4,430
+1,016
| +30% | +$326K |
|
331
Brown & Brown
BRO
$23.9B
| $1.6M | 0.01% |
+33,737
| New | +$1.55M |
|
332
Occidental Petroleum
OXY
$55.9B
| $1.59M | 0.01% |
+91,682
| New | +$1.26M |
|
333
Cloudflare
NET
$107B
| $1.57M | 0.01% |
+20,619
| New | +$1.35M |
|
334
Allison Transmission
ALSN
$9.82B
| $1.54M | 0.01% |
35,814
-10,307
| -22% | -$414K |
|
335
F5
FFIV
$22.7B
| $1.54M | 0.01% |
8,782
+2,672
| +44% | +$406K |
|
336
Kinross Gold
KGC
$32.8B
| $1.54M | 0.01% |
+210,192
| New | +$1.68M |
|
337
Alcoa
AA
$13.2B
| $1.53M | 0.01% |
66,454
-10,275
| -13% | -$179K |
|
338
IDEX
IEX
$17.3B
| $1.52M | 0.01% |
7,652
+2,107
| +38% | +$401K |
|
|
ALXN
339
DELISTED
Alexion Pharmaceuticals
ALXN
| $1.48M | 0.01% |
+9,500
| New | +$1.22M |
|
340
LPL Financial
LPLA
$28.6B
| $1.47M | 0.01% |
+14,137
| New | +$1.27M |
|
341
Invesco
IVZ
$13.9B
| $1.47M | 0.01% |
+84,402
| New | +$1.3M |
|
342
Sonoco
SON
$5.74B
| $1.44M | 0.01% |
24,353
-17,045
| -41% | -$958K |
|
|
PLAN
343
DELISTED
Anaplan, Inc.
PLAN
| $1.44M | 0.01% |
20,033
-9,173
| -31% | -$596K |
|
344
CGI
GIB
$15.5B
| $1.42M | 0.01% |
+17,926
| New | +$1.28M |
|
345
ON Semiconductor
ON
$31.6B
| $1.42M | 0.01% |
43,354
+10,875
| +33% | +$303K |
|
346
Wabtec
WAB
$49.3B
| $1.4M | 0.01% |
19,148
+4,036
| +27% | +$276K |
|
|
QVCGA
347
DELISTED
QVC Group Inc Series A
QVCGA
| $1.37M | 0.01% |
2,504
-956
| -28% | -$430K |
|
348
Voya Financial
VOYA
$9.19B
| $1.36M | 0.01% |
+23,187
| New | +$1.26M |
|
349
Textron
TXT
$15.4B
| $1.36M | 0.01% |
28,139
+5,374
| +24% | +$226K |
|
|
MNDT
350
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $1.33M | 0.01% |
57,750
-33,359
| -37% | -$514K |
|
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Ray Dalio's Q4 2020 Portfolio in Review
As of Q4 2020, Ray Dalio held 599 positions worth $11.6B, up 39% from $8.31B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Ray Dalio deployed $2.24B of net new capital in Q4 2020, opening 169 new positions and adding to 233 existing holdings. Its largest new stake was JPMorgan Chase: 412,755 shares worth $52.4M.
By sector, the portfolio is most concentrated in Consumer Staples at 24% of assets, up from 15% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was SPDR Gold Trust, an estimated $436M trimmed.
- Ray Dalio's largest Q4 2020 buy was JPMorgan Chase: 412,755 shares worth $52.4M.
- Ray Dalio added most to Walmart Inc in Q4 2020, an estimated $245M increase.
- Ray Dalio's biggest Q4 2020 reduction was SPDR Gold Trust, cutting an estimated $436M.
- Ray Dalio fully exited Tesla in Q4 2020, selling an estimated $15.3M.
- Ray Dalio's ten largest holdings make up 43% of its $11.6B portfolio in Q4 2020.
- Ray Dalio opened 169 new positions and closed 74 in Q4 2020.
- Ray Dalio's portfolio value rose 39% quarter-over-quarter to $11.6B.
Based on Bridgewater Associates's 13F filing for Q4 2020, filed 12 Feb 2021.