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 |
NFX
Newfield Exploration
NFX
|
+$44.6M |
| 2 |
Meta Platforms (Facebook)
META
|
+$35.1M |
| 3 |
XEC
CIMAREX ENERGY CO
XEC
|
+$33M |
| 4 |
AT&T
T
|
+$30.8M |
| 5 |
iShares MSCI Brazil ETF
EWZ
|
+$27.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.04B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$833M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$391M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$147M |
| 5 |
iShares TIPS Bond ETF
TIP
|
+$92.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 3.02% |
| 2 | Energy | 2.11% |
| 3 | Consumer Discretionary | 2.02% |
| 4 | Financials | 1.95% |
| 5 | Consumer Staples | 1.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
HOLX
351
DELISTED
Hologic
HOLX
| $753K | 0.01% |
+20,164
| New | +$815K |
|
352
McKesson
MCK
$101B
| $740K | 0.01% |
5,251
-42,902
| -89% | -$6.68M |
|
353
Ingredion
INGR
$6.58B
| $715K | 0.01% |
+5,543
| New | +$742K |
|
354
Moody's
MCO
$82.7B
| $683K | 0.01% |
4,232
+1,447
| +52% | +$234K |
|
355
East-West Bancorp
EWBC
$18B
| $678K | 0.01% |
+10,841
| New | +$711K |
|
356
Devon Energy
DVN
$47.3B
| $676K | 0.01% |
21,254
-197,237
| -90% | -$7.24M |
|
357
AngloGold Ashanti
AU
$48.7B
| $673K | 0.01% |
70,896
-2,284
| -3% | -$23.3K |
|
358
Bausch Health
BHC
$2.34B
| $651K | 0.01% |
40,946
-909
| -2% | -$16.9K |
|
|
HES
359
DELISTED
Hess
HES
| $632K | 0.01% |
12,480
-976
| -7% | -$47.8K |
|
360
Consolidated Edison
ED
$39.8B
| $612K | 0.01% |
+7,850
| New | +$610K |
|
361
APA Corp
APA
$13.3B
| $595K | 0.01% |
15,455
-1,222
| -7% | -$49.2K |
|
362
Phillips 66
PSX
$81.4B
| $589K | 0.01% |
+6,137
| New | +$597K |
|
363
Gold Fields
GFI
$36.5B
| $581K | 0.01% |
144,607
-3,872
| -3% | -$15.8K |
|
364
Ameren
AEE
$30.1B
| $575K | 0.01% |
+10,147
| New | +$562K |
|
365
OGE Energy
OGE
$9.71B
| $574K | 0.01% |
17,516
-19,484
| -53% | -$615K |
|
366
Alliant Energy
LNT
$18B
| $573K | 0.01% |
14,025
-30,235
| -68% | -$1.19M |
|
367
Essential Utilities
WTRG
$11.4B
| $573K | 0.01% |
+16,815
| New | +$585K |
|
368
American Water Works
AWK
$26.9B
| $572K | 0.01% |
+6,964
| New | +$568K |
|
369
WEC Energy
WEC
$35.1B
| $572K | 0.01% |
+9,115
| New | +$566K |
|
|
GXP
370
DELISTED
Great Plains Energy Incorporated
GXP
| $572K | 0.01% |
17,986
-64,061
| -78% | -$1.95M |
|
371
DTE Energy
DTE
$29.1B
| $571K | 0.01% |
+6,430
| New | +$564K |
|
372
AES
AES
$10.5B
| $570K | 0.01% |
+50,148
| New | +$545K |
|
373
MDU Resources
MDU
$4.3B
| $570K | 0.01% |
+53,234
| New | +$540K |
|
374
Pinnacle West Capital
PNW
$12.2B
| $570K | 0.01% |
+7,143
| New | +$560K |
|
375
Eversource Energy
ES
$27.2B
| $569K | 0.01% |
+9,649
| New | +$571K |
|
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Ray Dalio's Q1 2018 Portfolio in Review
As of Q1 2018, Ray Dalio held 508 positions worth $10.5B, down 14% from $12.2B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Ray Dalio withdrew a net $1.74B in Q1 2018, closing 48 positions and reducing 116 holdings. Its most notable exit was Costco, an estimated $15.6M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 3% of assets, up from 1.7% a quarter earlier, followed by Energy and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Biogen worth $21.1M.
- Ray Dalio's largest Q1 2018 buy was Biogen: 77,197 shares worth $21.1M.
- Ray Dalio added most to Newfield Exploration in Q1 2018, an estimated $44.6M increase.
- Ray Dalio's biggest Q1 2018 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $1.04B.
- Ray Dalio fully exited Costco in Q1 2018, selling an estimated $15.6M.
- Ray Dalio's ten largest holdings make up 73% of its $10.5B portfolio in Q1 2018.
- Ray Dalio opened 262 new positions and closed 48 in Q1 2018.
- Ray Dalio's portfolio value fell 14% quarter-over-quarter to $10.5B.
Based on Bridgewater Associates's 13F filing for Q1 2018, filed 15 May 2018.