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 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$219M |
| 2 |
Gilead Sciences
GILD
|
+$30.6M |
| 3 |
Microsoft
MSFT
|
+$27.5M |
| 4 |
POT
Potash Corp Of Saskatchewan
POT
|
+$20.5M |
| 5 |
Eastman Chemical
EMN
|
+$19.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$384M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$62M |
| 3 |
Apple
AAPL
|
+$30.1M |
| 4 |
RTX Corp
RTX
|
+$20.5M |
| 5 |
Fossil Group
FOSL
|
+$20M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.42% |
| 2 | Energy | 2.21% |
| 3 | Materials | 2.04% |
| 4 | Healthcare | 1.26% |
| 5 | Industrials | 0.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
401
Quanta Services
PWR
$101B
| – | – |
-6,101
| Closed | -$221K |
|
402
Ralph Lauren
RL
$23.5B
| – | – |
-7,759
| Closed | -$1.28M |
|
403
Reliance Steel & Aluminium
RS
$21.6B
| – | – |
-3,000
| Closed | -$205K |
|
404
SITE Centers
SITC
$165M
| – | – |
-49,776
| Closed | -$1.07M |
|
405
J.M. Smucker
SJM
$12.8B
| – | – |
-3,783
| Closed | -$374K |
|
406
SL Green Realty
SLG
$3.99B
| – | – |
-6,095
| Closed | -$598K |
|
407
SM Energy
SM
$6.92B
| – | – |
-18,483
| Closed | -$1.44M |
|
408
Sensata Technologies
ST
$6.79B
| – | – |
-10,000
| Closed | -$445K |
|
409
Starwood Property Trust
STWD
$6.09B
| – | – |
-27,000
| Closed | -$593K |
|
410
Constellation Brands
STZ
$23.2B
| – | – |
-30,061
| Closed | -$2.62M |
|
411
AT&T
T
$163B
| – | – |
-15,486
| Closed | -$412K |
|
412
TripAdvisor
TRIP
$1.26B
| – | – |
-3,900
| Closed | -$357K |
|
413
Trimble
TRMB
$13.9B
| – | – |
-42,500
| Closed | -$1.3M |
|
414
T. Rowe Price
TROW
$24.3B
| – | – |
-39,238
| Closed | -$3.08M |
|
415
TC Energy
TRP
$65.9B
| – | – |
-56,400
| Closed | -$2.91M |
|
416
Travelers Companies
TRV
$80.2B
| – | – |
-6,780
| Closed | -$637K |
|
417
Textron
TXT
$15.4B
| – | – |
-30,858
| Closed | -$1.11M |
|
418
Unum
UNM
$14.3B
| – | – |
-10,400
| Closed | -$358K |
|
419
United Parcel Service
UPS
$88.9B
| – | – |
-149,364
| Closed | -$14.7M |
|
420
VF Corp
VFC
$5.89B
| – | – |
-23,872
| Closed | -$1.48M |
|
421
Vulcan Materials
VMC
$36.9B
| – | – |
-4,800
| Closed | -$289K |
|
422
Vornado Realty Trust
VNO
$7.38B
| – | – |
-4,866
| Closed | -$356K |
|
423
Verisk Analytics
VRSK
$25B
| – | – |
-12,485
| Closed | -$760K |
|
424
Ventas
VTR
$47.9B
| – | – |
-24,858
| Closed | -$1.76M |
|
425
Waters Corp
WAT
$39.9B
| – | – |
-3,600
| Closed | -$357K |
|
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Ray Dalio's Q4 2014 Portfolio in Review
As of Q4 2014, Ray Dalio held 456 positions worth $12.5B, down 2.4% from $12.8B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Ray Dalio's Q4 2014 filing shows 93 new, 144 increased, 94 reduced and 121 closed positions. Its largest new stake was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $384M.
By sector, the portfolio is most concentrated in Technology at 2.4% of assets, down from 2.6% a quarter earlier, followed by Energy and Materials.
- Ray Dalio's largest Q4 2014 buy was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M.
- Ray Dalio added most to Vanguard FTSE Emerging Markets ETF in Q4 2014, an estimated $219M increase.
- Ray Dalio's biggest Q4 2014 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $384M.
- Ray Dalio fully exited United Parcel Service in Q4 2014, selling an estimated $14.7M.
- Ray Dalio's ten largest holdings make up 89% of its $12.5B portfolio in Q4 2014.
- Ray Dalio opened 93 new positions and closed 121 in Q4 2014.
- Ray Dalio's portfolio value fell 2.4% quarter-over-quarter to $12.5B.
Based on Bridgewater Associates's 13F filing for Q4 2014, filed 11 Feb 2015.