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 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
KeyCorp
KEY
$24.4B
| $3.88M | 0.02% |
167,612
-208,870
| -55% | -$4.85M |
|
|
MOMO
352
Hello Group
MOMO
$866M
| $3.87M | 0.02% |
430,949
+81,538
| +23% | +$933K |
|
353
Equinix
EQIX
$103B
| $3.84M | 0.02% |
4,544
+12
| +0.3% | +$9.62K |
|
354
Brown & Brown
BRO
$23.9B
| $3.81M | 0.02% |
54,137
-62,504
| -54% | -$4.03M |
|
355
Shopify
SHOP
$195B
| $3.75M | 0.02% |
27,160
+5,250
| +24% | +$767K |
|
356
Waters Corp
WAT
$39.9B
| $3.73M | 0.02% |
10,012
+6,771
| +209% | +$2.37M |
|
357
Health Catalyst
HCAT
$128M
| $3.73M | 0.02% |
94,095
+7,695
| +9% | +$351K |
|
358
Regions Financial
RF
$26.8B
| $3.72M | 0.02% |
170,562
-201,991
| -54% | -$4.62M |
|
359
iRhythm Holdings
IRTC
$4.2B
| $3.69M | 0.02% |
31,364
+2,804
| +10% | +$257K |
|
360
KB Home
KBH
$3.59B
| $3.66M | 0.02% |
81,851
-59,127
| -42% | -$2.48M |
|
|
IRBT
361
DELISTED
iRobot
IRBT
| $3.65M | 0.02% |
55,426
+6,618
| +14% | +$523K |
|
|
MDC
362
DELISTED
M.D.C. Holdings, Inc.
MDC
| $3.64M | 0.02% |
65,173
-42,571
| -40% | -$2.17M |
|
363
Raymond James Financial
RJF
$34B
| $3.64M | 0.02% |
36,235
-44,167
| -55% | -$4.37M |
|
364
Healthpeak Properties
DOC
$14.8B
| $3.63M | 0.02% |
+100,583
| New | +$3.47M |
|
365
J&J Snack Foods
JJSF
$1.71B
| $3.61M | 0.02% |
22,876
-10,003
| -30% | -$1.5M |
|
366
Pricesmart
PSMT
$5.46B
| $3.61M | 0.02% |
49,300
-3,648
| -7% | -$274K |
|
367
Reynolds Consumer Products
REYN
$5.59B
| $3.6M | 0.02% |
114,529
-238,295
| -68% | -$6.94M |
|
368
Travelers Companies
TRV
$80.2B
| $3.59M | 0.02% |
+22,945
| New | +$3.59M |
|
369
Citizens Financial Group
CFG
$30.6B
| $3.57M | 0.02% |
75,600
-90,976
| -55% | -$4.38M |
|
|
NOAH
370
Noah Holdings
NOAH
$603M
| $3.56M | 0.02% |
115,851
+29,616
| +34% | +$1.12M |
|
371
M&T Bank
MTB
$36.2B
| $3.52M | 0.02% |
22,934
-27,134
| -54% | -$4.17M |
|
|
SBNY
372
DELISTED
Signature Bank
SBNY
| $3.5M | 0.02% |
10,807
-11,729
| -52% | -$3.66M |
|
373
Suncor Energy
SU
$70.3B
| $3.49M | 0.02% |
139,154
-36,363
| -21% | -$886K |
|
374
Boston Properties
BXP
$11.1B
| $3.48M | 0.02% |
30,194
+2,365
| +8% | +$272K |
|
|
B
375
Barrick Mining
B
$73.2B
| $3.46M | 0.02% |
181,623
-22,385
| -11% | -$425K |
|
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Ray Dalio's Q4 2021 Portfolio in Review
As of Q4 2021, Ray Dalio held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Ray Dalio opened a new position in RTX Corp worth $16M.
- Ray Dalio's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Ray Dalio added most to Alibaba in Q4 2021, an estimated $142M increase.
- Ray Dalio's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Ray Dalio fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Ray Dalio's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Ray Dalio opened 137 new positions and closed 89 in Q4 2021.
- Ray Dalio's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.