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 |
Gen Digital
GEN
|
+$26M |
| 2 |
Eastman Chemical
EMN
|
+$24.8M |
| 3 |
The Mosaic Company
MOS
|
+$24.7M |
| 4 |
Kohl's
KSS
|
+$24.3M |
| 5 |
ESV
Ensco Rowan plc
ESV
|
+$23.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.65B |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$906M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$46.7M |
| 4 |
Apple
AAPL
|
+$30.1M |
| 5 |
Chipotle Mexican Grill
CMG
|
+$17.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.22% |
| 2 | Materials | 3.47% |
| 3 | Consumer Discretionary | 3.19% |
| 4 | Energy | 2.92% |
| 5 | Communication Services | 2.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
426
Huntington Bancshares
HBAN
$35.5B
| $195K | ﹤0.01% |
+18,431
| New | +$206K |
|
427
Genworth Financial
GNW
$3.71B
| $194K | ﹤0.01% |
+42,097
| New | +$248K |
|
428
Old Republic International
ORI
$10.4B
| $178K | ﹤0.01% |
+11,405
| New | +$183K |
|
429
Groupon
GRPN
$1.02B
| $119K | ﹤0.01% |
+1,821
| New | +$162K |
|
|
TWO
430
Two Harbors Investment
TWO
$1.27B
| $119K | ﹤0.01% |
+1,680
| New | +$131K |
|
431
Accenture
ACN
$108B
| – | – |
-9,400
| Closed | -$910K |
|
432
Ameren
AEE
$30.1B
| – | – |
-15,070
| Closed | -$568K |
|
433
Assured Guaranty
AGO
$3.34B
| – | – |
-36,981
| Closed | -$887K |
|
434
Ameriprise Financial
AMP
$48.8B
| – | – |
-5,466
| Closed | -$683K |
|
435
Aon
AON
$76B
| – | – |
-6,404
| Closed | -$638K |
|
436
Air Products & Chemicals
APD
$67.6B
| – | – |
-14,668
| Closed | -$1.86M |
|
437
AutoZone
AZO
$51.1B
| – | – |
-3,868
| Closed | -$2.58M |
|
438
Franklin Resources
BEN
$17.2B
| – | – |
-31,462
| Closed | -$1.54M |
|
439
Bunge Global
BG
$20.8B
| – | – |
-2,891
| Closed | -$254K |
|
|
BNY
440
Bank of New York Mellon
BNY
$107B
| – | – |
-39,210
| Closed | -$1.65M |
|
441
Blackrock
BLK
$176B
| – | – |
-8,606
| Closed | -$2.98M |
|
442
Berkshire Hathaway Class B
BRK.B
$1.13T
| – | – |
-59,890
| Closed | -$8.15M |
|
443
Boston Properties
BXP
$11.1B
| – | – |
-2,931
| Closed | -$355K |
|
444
C.H. Robinson
CHRW
$17.5B
| – | – |
-57,174
| Closed | -$3.57M |
|
445
Core Laboratories
CLB
$521M
| – | – |
-17,448
| Closed | -$1.99M |
|
446
Clorox
CLX
$12.7B
| – | – |
-5,946
| Closed | -$619K |
|
447
Comcast
CMCSA
$90B
| – | – |
-308,972
| Closed | -$9.29M |
|
|
448
Chipotle Mexican Grill
CMG
$41.5B
| – | – |
-1,434,950
| Closed | -$17.4M |
|
449
CMS Energy
CMS
$22.3B
| – | – |
-15,239
| Closed | -$485K |
|
450
Campbell Soup
CPB
$6.87B
| – | – |
-83,841
| Closed | -$4M |
|
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Ray Dalio's Q3 2015 Portfolio in Review
As of Q3 2015, Ray Dalio held 516 positions worth $7.47B, down 31% from $10.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Ray Dalio withdrew a net $1.81B in Q3 2015, closing 86 positions and reducing 67 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 4.2% of assets, up from 2.2% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Wynn Resorts worth $12.7M.
- Ray Dalio's largest Q3 2015 buy was Wynn Resorts: 239,500 shares worth $12.7M.
- Ray Dalio added most to Gen Digital in Q3 2015, an estimated $26M increase.
- Ray Dalio's biggest Q3 2015 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $1.65B.
- Ray Dalio fully exited Chipotle Mexican Grill in Q3 2015, selling an estimated $17.4M.
- Ray Dalio's ten largest holdings make up 76% of its $7.47B portfolio in Q3 2015.
- Ray Dalio opened 210 new positions and closed 86 in Q3 2015.
- Ray Dalio's portfolio value fell 31% quarter-over-quarter to $7.47B.
Based on Bridgewater Associates's 13F filing for Q3 2015, filed 12 Nov 2015.