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 MSCI Emerging Markets ETF
EEM
|
+$199M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$82.8M |
| 3 |
American Express
AXP
|
+$20.2M |
| 4 |
RTX Corp
RTX
|
+$15.4M |
| 5 |
United Parcel Service
UPS
|
+$14.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$364M |
| 2 |
Microsoft
MSFT
|
+$34.2M |
| 3 |
Ventas
VTR
|
+$15M |
| 4 |
Intel
INTC
|
+$14.6M |
| 5 |
Conagra Brands
CAG
|
+$12.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.58% |
| 2 | Energy | 1.96% |
| 3 | Materials | 1.29% |
| 4 | Consumer Discretionary | 1.01% |
| 5 | Industrials | 0.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Bio-Techne
TECH
$11.3B
| $215K | ﹤0.01% |
+9,200
| New | +$216K |
|
|
LLL
352
DELISTED
L3 Technologies, Inc.
LLL
| $209K | ﹤0.01% |
+1,759
| New | +$200K |
|
353
Altria Group
MO
$114B
| $207K | ﹤0.01% |
4,500
-41,500
| -90% | -$1.78M |
|
|
TUP
354
DELISTED
Tupperware Brands Corporation
TUP
| $207K | ﹤0.01% |
+2,994
| New | +$228K |
|
355
Reliance Steel & Aluminium
RS
$21.6B
| $205K | ﹤0.01% |
+3,000
| New | +$213K |
|
|
EGN
356
DELISTED
Energen
EGN
| $204K | ﹤0.01% |
+2,826
| New | +$226K |
|
|
DNY
357
DELISTED
DONNELLEY R R & SONS CO
DNY
| $204K | ﹤0.01% |
+12,400
| New | +$204K |
|
358
Marathon Petroleum
MPC
$83.7B
| $203K | ﹤0.01% |
4,800
-75,200
| -94% | -$3.19M |
|
|
NUAN
359
DELISTED
Nuance Communications, Inc.
NUAN
| $194K | ﹤0.01% |
+14,513
| New | +$215K |
|
|
CVC
360
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
| $186K | ﹤0.01% |
10,636
-2,540
| -19% | -$47K |
|
361
Groupon
GRPN
$951M
| $180K | ﹤0.01% |
+1,345
| New | +$175K |
|
|
BRCD
362
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
| $116K | ﹤0.01% |
+10,700
| New | +$104K |
|
|
QLGC
363
DELISTED
QLOGIC CORP
QLGC
| $107K | ﹤0.01% |
+11,713
| New | +$112K |
|
364
Abbott
ABT
$187B
| – | – |
-17,700
| Closed | -$724K |
|
365
Adobe
ADBE
$105B
| – | – |
-86,503
| Closed | -$6.26M |
|
366
Assured Guaranty
AGO
$3.34B
| – | – |
-18,999
| Closed | -$465K |
|
367
Assurant
AIZ
$14.3B
| – | – |
-7,958
| Closed | -$522K |
|
|
ANSS
368
DELISTED
Ansys
ANSS
| – | – |
-6,361
| Closed | -$482K |
|
369
Ashland
ASH
$3.5B
| – | – |
-4,476
| Closed | -$238K |
|
|
370
Conagra Brands
CAG
$7.23B
| – | – |
-554,840
| Closed | -$12.8M |
|
371
Cardinal Health
CAH
$55.4B
| – | – |
-10,834
| Closed | -$743K |
|
372
Crown Castle
CCI
$32.2B
| – | – |
-4,291
| Closed | -$319K |
|
373
Carnival Corporation Ltd
CCL
$39.7B
| – | – |
-319,835
| Closed | -$12M |
|
374
Cadence Design Systems
CDNS
$93.4B
| – | – |
-13,079
| Closed | -$229K |
|
375
CF Industries
CF
$17.3B
| – | – |
-42,000
| Closed | -$2.02M |
|
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Ray Dalio's Q3 2014 Portfolio in Review
As of Q3 2014, Ray Dalio held 455 positions worth $12.8B, down 3.9% from $13.3B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Ray Dalio's Q3 2014 filing shows 152 new, 111 increased, 96 reduced and 92 closed positions. Its largest new stake was American Express: 224,123 shares worth $19.6M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $364M.
By sector, the portfolio is most concentrated in Technology at 2.6% of assets, down from 3% a quarter earlier, followed by Energy and Materials.
- Ray Dalio's largest Q3 2014 buy was American Express: 224,123 shares worth $19.6M.
- Ray Dalio added most to iShares MSCI Emerging Markets ETF in Q3 2014, an estimated $199M increase.
- Ray Dalio's biggest Q3 2014 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $364M.
- Ray Dalio fully exited Conagra Brands in Q3 2014, selling an estimated $12.8M.
- Ray Dalio's ten largest holdings make up 90% of its $12.8B portfolio in Q3 2014.
- Ray Dalio opened 152 new positions and closed 92 in Q3 2014.
- Ray Dalio's portfolio value fell 3.9% quarter-over-quarter to $12.8B.
Based on Bridgewater Associates's 13F filing for Q3 2014, filed 12 Nov 2014.