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 | |
|---|---|---|---|---|---|---|
376
US Foods
USFD
$24B
| $214K | ﹤0.01% |
+12,084
| New | +$405K |
|
377
NIO
NIO
$11.9B
| $211K | ﹤0.01% |
75,843
+38,859
| +105% | +$145K |
|
378
Packaging Corp of America
PKG
$22.8B
| $202K | ﹤0.01% |
2,332
-19,632
| -89% | -$1.9M |
|
|
CTB
379
DELISTED
Cooper Tire & Rubber Co.
CTB
| $202K | ﹤0.01% |
12,371
-6,006
| -33% | -$150K |
|
380
Diamondback Energy
FANG
$52.7B
| $201K | ﹤0.01% |
7,677
-286
| -4% | -$18K |
|
381
Adient
ADNT
$1.5B
| $196K | ﹤0.01% |
21,617
-10,386
| -32% | -$209K |
|
|
CLR
382
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $174K | ﹤0.01% |
22,757
+3,376
| +17% | +$75.3K |
|
|
BBBY
383
DELISTED
Bed Bath & Beyond Inc
BBBY
| $168K | ﹤0.01% |
40,021
+7,932
| +25% | +$92.4K |
|
384
Unum
UNM
$14.3B
| $167K | ﹤0.01% |
+11,098
| New | +$267K |
|
|
ZNGA
385
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $160K | ﹤0.01% |
23,410
-196,019
| -89% | -$1.29M |
|
386
SSR Mining
SSRM
$6.48B
| $151K | ﹤0.01% |
13,311
-7,692
| -37% | -$127K |
|
|
NBL
387
DELISTED
Noble Energy, Inc.
NBL
| $150K | ﹤0.01% |
24,765
+1,144
| +5% | +$18.4K |
|
388
MGM Resorts International
MGM
$11.2B
| $146K | ﹤0.01% |
12,361
-106,946
| -90% | -$2.75M |
|
389
Devon Energy
DVN
$47.3B
| $145K | ﹤0.01% |
20,919
+2,051
| +11% | +$37.1K |
|
390
Coty
COTY
$2.48B
| $143K | ﹤0.01% |
+27,667
| New | +$260K |
|
391
Newell Brands
NWL
$2.56B
| $139K | ﹤0.01% |
10,436
-87,826
| -89% | -$1.51M |
|
|
MRO
392
DELISTED
Marathon Oil Corporation
MRO
| $134K | ﹤0.01% |
40,699
-76
| -0.2% | -$700 |
|
|
VRN
393
DELISTED
Veren
VRN
| $114K | ﹤0.01% |
149,511
-18,659
| -11% | -$51.6K |
|
394
IAMGOLD
IAG
$10.5B
| $106K | ﹤0.01% |
46,987
-37,661
| -44% | -$109K |
|
|
PVG
395
DELISTED
PRETIUM RESOURCES INC.
PVG
| $105K | ﹤0.01% |
18,453
-15,625
| -46% | -$134K |
|
396
APA Corp
APA
$13.2B
| $94K | ﹤0.01% |
22,447
+5,164
| +30% | +$115K |
|
397
Freeport-McMoran
FCX
$97.5B
| $80K | ﹤0.01% |
11,827
-65,855
| -85% | -$689K |
|
|
ODP
398
DELISTED
ODP
ODP
| $22K | ﹤0.01% |
1,319
-11,360
| -90% | -$254K |
|
399
Clear Channel Outdoor Holdings
CCO
$1.23B
| $7K | ﹤0.01% |
11,489
-96,595
| -89% | -$205K |
|
400
Alcoa
AA
$13.2B
| – | – |
-43,035
| Closed | -$926K |
|
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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.