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 |
Eli Lilly
LLY
|
+$149M |
| 2 |
NVIDIA
NVDA
|
+$102M |
| 3 |
iShares MSCI Brazil ETF
EWZ
|
+$89.1M |
| 4 |
Comcast
CMCSA
|
+$71.1M |
| 5 |
Progressive
PGR
|
+$69.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Costco
COST
|
+$83.3M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$76.9M |
| 3 |
Coca-Cola
KO
|
+$56.4M |
| 4 |
Broadcom
AVGO
|
+$49.5M |
| 5 |
Lam Research
LRCX
|
+$44.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 23.82% |
| 2 | Healthcare | 20.59% |
| 3 | Consumer Discretionary | 12.23% |
| 4 | Financials | 6.67% |
| 5 | Communication Services | 5.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
401
Par Pacific Holdings
PARR
$3.32B
| $4.03M | 0.02% |
110,834
-33,655
| -23% | -$1.13M |
|
402
Emerson Electric
EMR
$88.3B
| $4.01M | 0.02% |
41,228
+35,952
| +681% | +$3.29M |
|
|
THS
403
DELISTED
Treehouse Foods
THS
| $3.98M | 0.02% |
95,933
+58,949
| +159% | +$2.42M |
|
404
Cal-Maine
CALM
$3.99B
| $3.96M | 0.02% |
68,968
-7,851
| -10% | -$388K |
|
405
First Solar
FSLR
$26.9B
| $3.96M | 0.02% |
22,967
+3,363
| +17% | +$514K |
|
406
QuidelOrtho
QDEL
$838M
| $3.93M | 0.02% |
53,340
-5,635
| -10% | -$381K |
|
407
Robert Half
RHI
$4.37B
| $3.85M | 0.02% |
43,845
-135,279
| -76% | -$10.8M |
|
408
GoDaddy
GDDY
$11.5B
| $3.85M | 0.02% |
36,309
+28,750
| +380% | +$2.57M |
|
409
Certara
CERT
$1.25B
| $3.85M | 0.02% |
218,624
-24,952
| -10% | -$366K |
|
410
Penske Automotive Group
PAG
$14.2B
| $3.84M | 0.02% |
23,948
+8,209
| +52% | +$1.26M |
|
411
NXP Semiconductors
NXPI
$60.4B
| $3.82M | 0.02% |
16,645
-22,510
| -57% | -$4.53M |
|
412
Warner Bros
WBD
$67.1B
| $3.81M | 0.02% |
+335,126
| New | +$3.62M |
|
413
Bunge Global
BG
$20.8B
| $3.78M | 0.02% |
+37,438
| New | +$3.92M |
|
414
Autohome
ATHM
$2.62B
| $3.78M | 0.02% |
134,563
-17,444
| -11% | -$480K |
|
415
BorgWarner
BWA
$13.9B
| $3.73M | 0.02% |
103,949
-62,765
| -38% | -$2.24M |
|
416
Adobe
ADBE
$105B
| $3.7M | 0.02% |
6,206
-89
| -1% | -$51.3K |
|
417
Pricesmart
PSMT
$5.46B
| $3.7M | 0.02% |
48,825
-4,673
| -9% | -$332K |
|
418
Qorvo
QRVO
$8.74B
| $3.66M | 0.02% |
32,509
+22,526
| +226% | +$2.17M |
|
419
Public Service Enterprise Group
PEG
$37.7B
| $3.65M | 0.02% |
59,673
+31,813
| +114% | +$1.95M |
|
|
NARI
420
DELISTED
Inari Medical, Inc. Common Stock
NARI
| $3.63M | 0.02% |
55,910
-5,109
| -8% | -$308K |
|
421
Papa John's
PZZA
$806M
| $3.61M | 0.02% |
47,294
-2,070
| -4% | -$141K |
|
|
DQ
422
Daqo New Energy
DQ
$996M
| $3.57M | 0.02% |
134,055
-15,407
| -10% | -$393K |
|
423
Marriott Vacations Worldwide
VAC
$4.25B
| $3.51M | 0.02% |
41,361
-15,089
| -27% | -$1.29M |
|
424
Glaukos
GKOS
$10.6B
| $3.49M | 0.02% |
43,932
+23,830
| +119% | +$1.62M |
|
|
JOYY
425
JOYY Inc
JOYY
$3.75B
| $3.49M | 0.02% |
87,960
-18,824
| -18% | -$748K |
|
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Ray Dalio's Q4 2023 Portfolio in Review
As of Q4 2023, Ray Dalio held 827 positions worth $17.9B, up 8% from $16.5B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Ray Dalio's Q4 2023 filing shows 87 new, 260 increased, 385 reduced and 85 closed positions. Its largest new stake was iShares MSCI Brazil ETF: 2,750,734 shares worth $96.2M. The largest sale was Costco, an estimated $83.3M.
By sector, the portfolio is most concentrated in Consumer Staples at 24% of assets, down from 27% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Ray Dalio's largest Q4 2023 buy was iShares MSCI Brazil ETF: 2,750,734 shares worth $96.2M.
- Ray Dalio added most to Eli Lilly in Q4 2023, an estimated $149M increase.
- Ray Dalio's biggest Q4 2023 reduction was Costco, cutting an estimated $83.3M.
- Ray Dalio fully exited Netflix in Q4 2023, selling an estimated $35.9M.
- Ray Dalio's ten largest holdings make up 31% of its $17.9B portfolio in Q4 2023.
- Ray Dalio opened 87 new positions and closed 85 in Q4 2023.
- Ray Dalio's portfolio value rose 8% quarter-over-quarter to $17.9B.
Based on Bridgewater Associates's 13F filing for Q4 2023, filed 14 Feb 2024.