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
|
+$61.9M |
| 2 |
Coca-Cola
KO
|
+$46.9M |
| 3 |
Broadcom
AVGO
|
+$46.8M |
| 4 |
SLB Ltd
SLB
|
+$40.3M |
| 5 |
Netflix
NFLX
|
+$40.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76.6M |
| 2 |
Johnson & Johnson
JNJ
|
+$75.4M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$49.3M |
| 4 |
Tradeweb Markets
TW
|
+$48M |
| 5 |
Visa
V
|
+$40.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 26.52% |
| 2 | Healthcare | 20.27% |
| 3 | Consumer Discretionary | 12.77% |
| 4 | Technology | 5.33% |
| 5 | Financials | 4.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Qfin Holdings
QFIN
$1.61B
| $4.56M | 0.03% |
296,744
+2,280
| +0.8% | +$38.9K |
|
|
DQ
377
Daqo New Energy
DQ
$996M
| $4.52M | 0.03% |
149,462
-1,258
| -0.8% | -$44.9K |
|
378
Cavco Industries
CVCO
$4.55B
| $4.4M | 0.03% |
16,544
+12,324
| +292% | +$3.46M |
|
379
EXL Service
EXLS
$5.29B
| $4.36M | 0.03% |
+155,563
| New | +$4.55M |
|
380
LyondellBasell Industries
LYB
$19.2B
| $4.35M | 0.03% |
45,981
-141,058
| -75% | -$13.6M |
|
|
CVSA
381
Covista Inc
CVSA
$4.8B
| $4.31M | 0.03% |
100,677
-102,978
| -51% | -$4.35M |
|
382
QuidelOrtho
QDEL
$838M
| $4.31M | 0.03% |
58,975
+4,698
| +9% | +$375K |
|
|
GMS
383
DELISTED
GMS Inc
GMS
| $4.31M | 0.03% |
+67,315
| New | +$4.67M |
|
384
PBF Energy
PBF
$7.31B
| $4.26M | 0.03% |
+79,636
| New | +$3.79M |
|
385
Penumbra
PEN
$12.8B
| $4.15M | 0.03% |
17,141
-23,241
| -58% | -$6.45M |
|
386
Avnet
AVT
$7.92B
| $4.14M | 0.03% |
85,914
+57,506
| +202% | +$2.78M |
|
387
United Therapeutics
UTHR
$23.1B
| $4.1M | 0.02% |
18,147
-22,658
| -56% | -$5.22M |
|
388
Central Garden & Pet Co Class A
CENTA
$2.44B
| $4.09M | 0.02% |
127,548
+5,638
| +5% | +$180K |
|
|
JOYY
389
JOYY Inc
JOYY
$3.75B
| $4.07M | 0.02% |
106,784
+6,684
| +7% | +$232K |
|
390
Green Plains
GPRE
$1.03B
| $4.02M | 0.02% |
+133,584
| New | +$4.37M |
|
|
NARI
391
DELISTED
Inari Medical, Inc. Common Stock
NARI
| $3.99M | 0.02% |
61,019
+8,530
| +16% | +$537K |
|
392
Pricesmart
PSMT
$5.46B
| $3.98M | 0.02% |
53,498
+1,786
| +3% | +$138K |
|
393
Armstrong World Industries
AWI
$7.84B
| $3.96M | 0.02% |
55,047
+36,922
| +204% | +$2.75M |
|
394
American International
AIG
$41.3B
| $3.95M | 0.02% |
+65,163
| New | +$3.89M |
|
395
Graham Holdings Company
GHC
$5.02B
| $3.89M | 0.02% |
6,680
+141
| +2% | +$81.7K |
|
|
TMHC
396
DELISTED
Taylor Morrison
TMHC
| $3.87M | 0.02% |
+90,877
| New | +$4.27M |
|
397
Huntsman Corp
HUN
$1.77B
| $3.86M | 0.02% |
158,074
-21,905
| -12% | -$594K |
|
398
Qualys
QLYS
$6.35B
| $3.85M | 0.02% |
25,243
+3,143
| +14% | +$452K |
|
399
Columbia Sportswear
COLM
$2.94B
| $3.81M | 0.02% |
51,412
+47,101
| +1,093% | +$3.5M |
|
400
CNX Resources
CNX
$5.2B
| $3.79M | 0.02% |
167,952
+125,580
| +296% | +$2.6M |
|
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Ray Dalio's Q3 2023 Portfolio in Review
As of Q3 2023, Ray Dalio held 826 positions worth $16.5B, up 2.2% from $16.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Ray Dalio deployed $1.1B of net new capital in Q3 2023, opening 130 new positions and adding to 388 existing holdings. Its largest new stake was Broadcom: 540,410 shares worth $44.9M.
By sector, the portfolio is most concentrated in Consumer Staples at 27% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Vanguard FTSE Emerging Markets ETF, an estimated $76.6M trimmed.
- Ray Dalio's largest Q3 2023 buy was Broadcom: 540,410 shares worth $44.9M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2023, an estimated $61.9M increase.
- Ray Dalio's biggest Q3 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $76.6M.
- Ray Dalio fully exited Corteva in Q3 2023, selling an estimated $19M.
- Ray Dalio's ten largest holdings make up 34% of its $16.5B portfolio in Q3 2023.
- Ray Dalio opened 130 new positions and closed 86 in Q3 2023.
- Ray Dalio's portfolio value rose 2.2% quarter-over-quarter to $16.5B.
Based on Bridgewater Associates's 13F filing for Q3 2023, filed 13 Nov 2023.