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 Core MSCI Emerging Markets ETF
IEMG
|
+$89.7M |
| 2 |
Cummins
CMI
|
+$35.2M |
| 3 |
Royal Bank of Canada
RY
|
+$32.9M |
| 4 |
Toll Brothers
TOL
|
+$32.7M |
| 5 |
Toronto Dominion Bank
TD
|
+$31.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$188M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$147M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76M |
| 4 |
NFX
Newfield Exploration
NFX
|
+$32.1M |
| 5 |
Procter & Gamble
PG
|
+$30.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 3.42% |
| 2 | Healthcare | 2.95% |
| 3 | Consumer Discretionary | 2.83% |
| 4 | Energy | 2.39% |
| 5 | Industrials | 2.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Sonoco
SON
$5.74B
| $428K | ﹤0.01% |
+8,148
| New | +$419K |
|
|
CTRA
377
DELISTED
Coterra Energy
CTRA
| $425K | ﹤0.01% |
17,844
-53,272
| -75% | -$1.24M |
|
378
Albemarle
ALB
$15.5B
| $417K | ﹤0.01% |
4,418
-1,060
| -19% | -$102K |
|
379
Lincoln Electric
LECO
$15.4B
| $378K | ﹤0.01% |
4,304
-4,393
| -51% | -$391K |
|
380
SEI Investments
SEIC
$12.6B
| $375K | ﹤0.01% |
+5,993
| New | +$399K |
|
381
GATX Corp
GATX
$6.27B
| $374K | ﹤0.01% |
5,037
-6,418
| -56% | -$452K |
|
382
Cintas
CTAS
$81.3B
| $371K | ﹤0.01% |
8,016
-9,772
| -55% | -$440K |
|
383
Oshkosh
OSK
$9.59B
| $363K | ﹤0.01% |
5,162
-5,218
| -50% | -$390K |
|
384
Expeditors International
EXPD
$23.2B
| $361K | ﹤0.01% |
4,938
-977
| -17% | -$68.3K |
|
385
Alliant Energy
LNT
$18B
| $361K | ﹤0.01% |
8,536
-5,489
| -39% | -$226K |
|
386
WEC Energy
WEC
$35.1B
| $361K | ﹤0.01% |
5,588
-3,527
| -39% | -$219K |
|
387
Ameren
AEE
$30.1B
| $360K | ﹤0.01% |
5,915
-4,232
| -42% | -$243K |
|
388
DTE Energy
DTE
$29.1B
| $360K | ﹤0.01% |
4,084
-2,346
| -36% | -$203K |
|
389
OGE Energy
OGE
$9.71B
| $360K | ﹤0.01% |
10,216
-7,300
| -42% | -$245K |
|
390
Pinnacle West Capital
PNW
$12.2B
| $360K | ﹤0.01% |
4,470
-2,673
| -37% | -$209K |
|
391
Eversource Energy
ES
$27.2B
| $359K | ﹤0.01% |
6,126
-3,523
| -37% | -$203K |
|
392
National Fuel Gas
NFG
$7.65B
| $359K | ﹤0.01% |
6,770
-4,255
| -39% | -$220K |
|
393
Teradyne
TER
$59.3B
| $358K | ﹤0.01% |
+9,397
| New | +$366K |
|
394
American Water Works
AWK
$26.9B
| $357K | ﹤0.01% |
4,186
-2,778
| -40% | -$230K |
|
395
MDU Resources
MDU
$4.32B
| $357K | ﹤0.01% |
32,716
-20,518
| -39% | -$219K |
|
396
Essential Utilities
WTRG
$11.4B
| $357K | ﹤0.01% |
10,143
-6,672
| -40% | -$229K |
|
397
Xcel Energy
XEL
$48.8B
| $356K | ﹤0.01% |
7,789
-4,614
| -37% | -$207K |
|
398
CMS Energy
CMS
$22.3B
| $355K | ﹤0.01% |
7,501
-4,901
| -40% | -$221K |
|
399
AES
AES
$10.5B
| $354K | ﹤0.01% |
26,370
-23,778
| -47% | -$293K |
|
400
Regal Rexnord
RRX
$11.9B
| $353K | ﹤0.01% |
4,314
-6,791
| -61% | -$526K |
|
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Ray Dalio's Q2 2018 Portfolio in Review
As of Q2 2018, Ray Dalio held 552 positions worth $10B, down 4.6% from $10.5B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Ray Dalio's Q2 2018 filing shows 92 new, 126 increased, 226 reduced and 92 closed positions. Its largest new stake was Cummins: 235,261 shares worth $31.3M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $188M.
By sector, the portfolio is most concentrated in Financials at 3.4% of assets, up from 2% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Ray Dalio's largest Q2 2018 buy was Cummins: 235,261 shares worth $31.3M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q2 2018, an estimated $89.7M increase.
- Ray Dalio's biggest Q2 2018 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $188M.
- Ray Dalio fully exited Procter & Gamble in Q2 2018, selling an estimated $30.9M.
- Ray Dalio's ten largest holdings make up 70% of its $10B portfolio in Q2 2018.
- Ray Dalio opened 92 new positions and closed 92 in Q2 2018.
- Ray Dalio's portfolio value fell 4.6% quarter-over-quarter to $10B.
Based on Bridgewater Associates's 13F filing for Q2 2018, filed 13 Aug 2018.