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
|
+$162M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$150M |
| 3 |
Meta Platforms (Facebook)
META
|
+$79.3M |
| 4 |
Microsoft
MSFT
|
+$61.4M |
| 5 |
AbbVie
ABBV
|
+$58.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$218M |
| 2 |
Pinduoduo
PDD
|
+$136M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$111M |
| 4 |
Bank of America
BAC
|
+$106M |
| 5 |
Walmart Inc
WMT
|
+$104M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 28.42% |
| 2 | Healthcare | 21.25% |
| 3 | Consumer Discretionary | 10.73% |
| 4 | Financials | 6.5% |
| 5 | Communication Services | 4.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AXNX
376
DELISTED
Axonics, Inc. Common Stock
AXNX
| $3.3M | 0.02% |
60,545
+2,621
| +5% | +$153K |
|
377
BGC Group
BGC
$4.89B
| $3.23M | 0.02% |
+617,953
| New | +$2.83M |
|
|
SEE
378
DELISTED
Sealed Air
SEE
| $3.23M | 0.02% |
70,329
+50,757
| +259% | +$2.52M |
|
379
Eagle Materials
EXP
$6.57B
| $3.23M | 0.02% |
21,982
+7,151
| +48% | +$1.01M |
|
|
NARI
380
DELISTED
Inari Medical, Inc. Common Stock
NARI
| $3.22M | 0.02% |
52,119
+893
| +2% | +$53.6K |
|
381
Tandem Diabetes Care
TNDM
$1.56B
| $3.21M | 0.02% |
78,984
+3,137
| +4% | +$130K |
|
382
Workday
WDAY
$44.4B
| $3.19M | 0.02% |
15,427
+4,521
| +41% | +$823K |
|
383
Omnicell
OMCL
$1.68B
| $3.18M | 0.02% |
54,286
+2,346
| +5% | +$129K |
|
384
Avantor
AVTR
$9.19B
| $3.18M | 0.02% |
150,396
+45,398
| +43% | +$1.03M |
|
385
Enovis
ENOV
$1.53B
| $3.16M | 0.02% |
59,079
+42,637
| +259% | +$2.47M |
|
386
Integer Holdings
ITGR
$4.26B
| $3.12M | 0.02% |
40,256
+1,535
| +4% | +$113K |
|
387
Reynolds Consumer Products
REYN
$5.59B
| $3.1M | 0.02% |
112,806
-2,723
| -2% | -$76.9K |
|
388
Usana Health Sciences
USNA
$286M
| $3.1M | 0.02% |
49,302
+25,513
| +107% | +$1.52M |
|
389
Range Resources
RRC
$8.95B
| $3.09M | 0.02% |
116,879
+90,243
| +339% | +$2.27M |
|
390
Xylem
XYL
$28.1B
| $3.08M | 0.02% |
29,459
-22,425
| -43% | -$2.34M |
|
391
Tapestry
TPR
$32.8B
| $3.08M | 0.02% |
71,355
+65,122
| +1,045% | +$2.79M |
|
392
Genworth Financial
GNW
$3.71B
| $3.06M | 0.02% |
+608,976
| New | +$3.38M |
|
393
UFP Industries
UFPI
$5.19B
| $3.03M | 0.02% |
38,120
+34,951
| +1,103% | +$2.99M |
|
394
Wolverine World Wide
WWW
$1.55B
| $3.02M | 0.02% |
+177,020
| New | +$2.7M |
|
395
Hain Celestial
HAIN
$53.7M
| $3.01M | 0.02% |
175,318
-38,745
| -18% | -$706K |
|
396
Halliburton
HAL
$26.6B
| $3M | 0.02% |
+94,908
| New | +$3.51M |
|
397
Schrodinger
SDGR
$1.36B
| $2.99M | 0.02% |
113,486
-2,093
| -2% | -$49.7K |
|
|
DADA
398
DELISTED
Dada Nexus
DADA
| $2.98M | 0.02% |
351,724
-254,392
| -42% | -$2.77M |
|
399
First Solar
FSLR
$26.9B
| $2.97M | 0.02% |
13,665
-41,034
| -75% | -$7.49M |
|
400
Norfolk Southern
NSC
$75.1B
| $2.95M | 0.02% |
13,917
-2,034
| -13% | -$471K |
|
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Ray Dalio's Q1 2023 Portfolio in Review
As of Q1 2023, Ray Dalio held 938 positions worth $16.4B, down 11% from $18.3B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Ray Dalio withdrew a net $2.44B in Q1 2023, closing 228 positions and reducing 360 holdings. Its most notable exit was Bank of America, an estimated $106M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Home Depot worth $43.5M.
- Ray Dalio's largest Q1 2023 buy was Home Depot: 147,495 shares worth $43.5M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q1 2023, an estimated $162M increase.
- Ray Dalio's biggest Q1 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $218M.
- Ray Dalio fully exited Bank of America in Q1 2023, selling an estimated $106M.
- Ray Dalio's ten largest holdings make up 35% of its $16.4B portfolio in Q1 2023.
- Ray Dalio opened 118 new positions and closed 228 in Q1 2023.
- Ray Dalio's portfolio value fell 11% quarter-over-quarter to $16.4B.
Based on Bridgewater Associates's 13F filing for Q1 2023, filed 12 May 2023.