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 |
Gen Digital
GEN
|
+$26M |
| 2 |
Eastman Chemical
EMN
|
+$24.8M |
| 3 |
The Mosaic Company
MOS
|
+$24.7M |
| 4 |
Kohl's
KSS
|
+$24.3M |
| 5 |
ESV
Ensco Rowan plc
ESV
|
+$23.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.65B |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$906M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$46.7M |
| 4 |
Apple
AAPL
|
+$30.1M |
| 5 |
Chipotle Mexican Grill
CMG
|
+$17.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.22% |
| 2 | Materials | 3.47% |
| 3 | Consumer Discretionary | 3.19% |
| 4 | Energy | 2.92% |
| 5 | Communication Services | 2.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PLCM
376
DELISTED
POLYCOM INC
PLCM
| $391K | 0.01% |
+37,300
| New | +$404K |
|
377
RPM International
RPM
$15B
| $390K | 0.01% |
+9,310
| New | +$424K |
|
|
BRCD
378
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
| $380K | 0.01% |
+36,600
| New | +$383K |
|
|
AVX
379
DELISTED
AVX Corporation
AVX
| $365K | ﹤0.01% |
+27,861
| New | +$363K |
|
380
Community Health Systems
CYH
$423M
| $364K | ﹤0.01% |
+10,306
| New | +$473K |
|
381
Hartford Financial Services
HIG
$39.3B
| $355K | ﹤0.01% |
+7,756
| New | +$358K |
|
382
Fidelity National Financial
FNF
$13.5B
| $332K | ﹤0.01% |
+13,491
| New | +$353K |
|
|
UFS
383
DELISTED
DOMTAR CORPORATION (New)
UFS
| $329K | ﹤0.01% |
+9,200
| New | +$363K |
|
384
Microchip Technology
MCHP
$46B
| $326K | ﹤0.01% |
15,148
-167,396
| -92% | -$3.61M |
|
385
Affiliated Managers Group
AMG
$9.76B
| $317K | ﹤0.01% |
+1,854
| New | +$365K |
|
|
PCH
386
DELISTED
PotlatchDeltic
PCH
| $314K | ﹤0.01% |
+10,896
| New | +$365K |
|
387
Packaging Corp of America
PKG
$22.8B
| $313K | ﹤0.01% |
5,199
-7,000
| -57% | -$467K |
|
|
BMS
388
DELISTED
Bemis
BMS
| $312K | ﹤0.01% |
+7,890
| New | +$346K |
|
|
WDR
389
DELISTED
Waddell & Reed Financial, Inc.
WDR
| $311K | ﹤0.01% |
+8,939
| New | +$369K |
|
390
Ares Capital
ARCC
$14.4B
| $310K | ﹤0.01% |
+21,400
| New | +$336K |
|
391
Federated Hermes
FHI
$4.72B
| $309K | ﹤0.01% |
+10,700
| New | +$343K |
|
392
Sonoco
SON
$5.74B
| $309K | ﹤0.01% |
+8,200
| New | +$333K |
|
|
GHL
393
DELISTED
Greenhill & Co., Inc.
GHL
| $309K | ﹤0.01% |
+10,857
| New | +$399K |
|
|
EV
394
DELISTED
Eaton Vance Corp.
EV
| $308K | ﹤0.01% |
+9,210
| New | +$339K |
|
|
JNS
395
DELISTED
Janus Capital Group Inc
JNS
| $308K | ﹤0.01% |
+22,619
| New | +$352K |
|
396
Brown & Brown
BRO
$23.9B
| $301K | ﹤0.01% |
+19,424
| New | +$319K |
|
397
Lear
LEA
$8.18B
| $294K | ﹤0.01% |
+2,700
| New | +$281K |
|
398
Unum
UNM
$14.3B
| $286K | ﹤0.01% |
+8,900
| New | +$307K |
|
399
Starwood Property Trust
STWD
$6.09B
| $285K | ﹤0.01% |
13,900
-18,700
| -57% | -$405K |
|
400
Globe Life
GL
$14.3B
| $280K | ﹤0.01% |
+4,959
| New | +$294K |
|
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Ray Dalio's Q3 2015 Portfolio in Review
As of Q3 2015, Ray Dalio held 516 positions worth $7.47B, down 31% from $10.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Ray Dalio withdrew a net $1.81B in Q3 2015, closing 86 positions and reducing 67 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 4.2% of assets, up from 2.2% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Wynn Resorts worth $12.7M.
- Ray Dalio's largest Q3 2015 buy was Wynn Resorts: 239,500 shares worth $12.7M.
- Ray Dalio added most to Gen Digital in Q3 2015, an estimated $26M increase.
- Ray Dalio's biggest Q3 2015 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $1.65B.
- Ray Dalio fully exited Chipotle Mexican Grill in Q3 2015, selling an estimated $17.4M.
- Ray Dalio's ten largest holdings make up 76% of its $7.47B portfolio in Q3 2015.
- Ray Dalio opened 210 new positions and closed 86 in Q3 2015.
- Ray Dalio's portfolio value fell 31% quarter-over-quarter to $7.47B.
Based on Bridgewater Associates's 13F filing for Q3 2015, filed 12 Nov 2015.