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 | |
|---|---|---|---|---|---|---|
351
Perrigo
PRGO
$1.78B
| $275K | 0.01% |
+5,720
| New | +$307K |
|
352
Essential Utilities
WTRG
$11.4B
| $272K | 0.01% |
+6,679
| New | +$315K |
|
353
Fortive
FTV
$18.6B
| $268K | 0.01% |
7,686
-89,136
| -92% | -$3.9M |
|
354
Nucor
NUE
$62.1B
| $268K | 0.01% |
7,448
-63,091
| -89% | -$2.8M |
|
355
Molson Coors Class B
TAP
$8.09B
| $268K | 0.01% |
+6,863
| New | +$348K |
|
356
Las Vegas Sands
LVS
$29.6B
| $264K | 0.01% |
6,207
-34,866
| -85% | -$2.11M |
|
357
Revvity
RVTY
$12.8B
| $264K | 0.01% |
+3,513
| New | +$312K |
|
|
BZUN
358
Baozun
BZUN
$172M
| $258K | 0.01% |
9,248
+2,354
| +34% | +$74.2K |
|
359
Pinnacle West Capital
PNW
$12.2B
| $257K | 0.01% |
+3,395
| New | +$308K |
|
360
Old Republic International
ORI
$10.4B
| $255K | 0.01% |
+16,702
| New | +$343K |
|
361
Bunge Global
BG
$20.8B
| $253K | 0.01% |
+6,175
| New | +$302K |
|
362
Pilgrim's Pride
PPC
$6.54B
| $248K | ﹤0.01% |
+13,708
| New | +$334K |
|
|
SRCL
363
DELISTED
Stericycle Inc
SRCL
| $243K | ﹤0.01% |
+5,009
| New | +$295K |
|
364
Factset
FDS
$10.2B
| $242K | ﹤0.01% |
928
-7,914
| -90% | -$2.15M |
|
365
Columbia Sportswear
COLM
$2.94B
| $241K | ﹤0.01% |
3,448
-2,807
| -45% | -$238K |
|
366
Flowers Foods
FLO
$1.57B
| $238K | ﹤0.01% |
+11,612
| New | +$253K |
|
|
EA
367
DELISTED
Electronic Arts
EA
| $237K | ﹤0.01% |
2,367
-13,319
| -85% | -$1.4M |
|
|
NOAH
368
Noah Holdings
NOAH
$603M
| $237K | ﹤0.01% |
9,153
+1,207
| +15% | +$38.1K |
|
369
CenterPoint Energy
CNP
$26.8B
| $231K | ﹤0.01% |
+14,958
| New | +$343K |
|
370
Western Union
WU
$2.21B
| $231K | ﹤0.01% |
+12,755
| New | +$313K |
|
371
Ingredion
INGR
$6.58B
| $220K | ﹤0.01% |
+2,918
| New | +$251K |
|
|
MZTI
372
The Marzetti Company
MZTI
$3.11B
| $219K | ﹤0.01% |
+1,511
| New | +$229K |
|
373
Curtiss-Wright
CW
$25.5B
| $216K | ﹤0.01% |
+2,337
| New | +$300K |
|
|
HTZ
374
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $216K | ﹤0.01% |
34,924
-17,042
| -33% | -$230K |
|
375
Ovintiv
OVV
$16.4B
| $214K | ﹤0.01% |
78,908
+445
| +0.6% | +$5.84K |
|
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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.