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 |
Walmart Inc
WMT
|
+$245M |
| 2 |
Procter & Gamble
PG
|
+$205M |
| 3 |
Coca-Cola
KO
|
+$129M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$128M |
| 5 |
Johnson & Johnson
JNJ
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$436M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$100M |
| 3 |
NetEase
NTES
|
+$26.7M |
| 4 |
iShares MSCI Emerging Markets ETF
EEM
|
+$25.5M |
| 5 |
Tesla
TSLA
|
+$15.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 23.66% |
| 2 | Consumer Discretionary | 13.07% |
| 3 | Healthcare | 9.52% |
| 4 | Technology | 3.33% |
| 5 | Financials | 3.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
401
Commerce Bancshares
CBSH
$8.5B
| $872K | 0.01% |
+16,948
| New | +$821K |
|
|
DOYU
402
DouYu International Holdings
DOYU
$142M
| $871K | 0.01% |
+7,878
| New | +$1.07M |
|
403
Nike
NKE
$61.9B
| $869K | 0.01% |
+6,143
| New | +$814K |
|
404
Amkor Technology
AMKR
$13.7B
| $861K | 0.01% |
57,098
-21,912
| -28% | -$298K |
|
405
Vertex Pharmaceuticals
VRTX
$126B
| $858K | 0.01% |
+3,630
| New | +$833K |
|
406
Fox Class A
FOXA
$26.9B
| $851K | 0.01% |
+29,230
| New | +$816K |
|
407
Affiliated Managers Group
AMG
$9.76B
| $848K | 0.01% |
+8,337
| New | +$720K |
|
|
TGNA
408
DELISTED
TEGNA Inc
TGNA
| $846K | 0.01% |
60,681
-29,600
| -33% | -$395K |
|
|
PBCT
409
DELISTED
People's United Financial Inc
PBCT
| $833K | 0.01% |
+64,394
| New | +$774K |
|
410
Commercial Metals
CMC
$8.31B
| $828K | 0.01% |
40,329
-8,809
| -18% | -$183K |
|
411
Vishay Intertechnology
VSH
$5.43B
| $822K | 0.01% |
39,692
-8,875
| -18% | -$164K |
|
|
CGC
412
Canopy Growth
CGC
$410M
| $811K | 0.01% |
+3,298
| New | +$752K |
|
413
SolarEdge
SEDG
$1.95B
| $809K | 0.01% |
+2,534
| New | +$700K |
|
414
Viavi Solutions
VIAV
$9.66B
| $784K | 0.01% |
52,337
-1,071
| -2% | -$14.2K |
|
415
Cullen/Frost Bankers
CFR
$10.2B
| $778K | 0.01% |
+8,919
| New | +$701K |
|
416
Terex
TEX
$7.74B
| $778K | 0.01% |
22,307
-6,033
| -21% | -$178K |
|
417
Choice Hotels
CHH
$4.8B
| $775K | 0.01% |
+7,264
| New | +$706K |
|
418
Alaska Air
ALK
$5.58B
| $763K | 0.01% |
+14,672
| New | +$660K |
|
|
FLG
419
Flagstar Bank National Association
FLG
$5.82B
| $752K | 0.01% |
+23,764
| New | +$656K |
|
420
AGCO
AGCO
$7.2B
| $748K | 0.01% |
7,259
+1,328
| +22% | +$118K |
|
421
Warner Bros
WBD
$67.1B
| $736K | 0.01% |
+24,444
| New | +$599K |
|
422
Old Dominion Freight Line
ODFL
$44.9B
| $734K | 0.01% |
7,526
-53,482
| -88% | -$5.32M |
|
|
SNV
423
DELISTED
Synovus
SNV
| $733K | 0.01% |
+22,640
| New | +$655K |
|
424
Popular Inc
BPOP
$11.1B
| $729K | 0.01% |
+12,943
| New | +$614K |
|
425
Cognizant
CTSH
$26B
| $727K | 0.01% |
+8,875
| New | +$675K |
|
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Ray Dalio's Q4 2020 Portfolio in Review
As of Q4 2020, Ray Dalio held 599 positions worth $11.6B, up 39% from $8.31B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Ray Dalio deployed $2.24B of net new capital in Q4 2020, opening 169 new positions and adding to 233 existing holdings. Its largest new stake was JPMorgan Chase: 412,755 shares worth $52.4M.
By sector, the portfolio is most concentrated in Consumer Staples at 24% of assets, up from 15% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was SPDR Gold Trust, an estimated $436M trimmed.
- Ray Dalio's largest Q4 2020 buy was JPMorgan Chase: 412,755 shares worth $52.4M.
- Ray Dalio added most to Walmart Inc in Q4 2020, an estimated $245M increase.
- Ray Dalio's biggest Q4 2020 reduction was SPDR Gold Trust, cutting an estimated $436M.
- Ray Dalio fully exited Tesla in Q4 2020, selling an estimated $15.3M.
- Ray Dalio's ten largest holdings make up 43% of its $11.6B portfolio in Q4 2020.
- Ray Dalio opened 169 new positions and closed 74 in Q4 2020.
- Ray Dalio's portfolio value rose 39% quarter-over-quarter to $11.6B.
Based on Bridgewater Associates's 13F filing for Q4 2020, filed 12 Feb 2021.