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 |
JPMorgan Chase
JPM
|
+$83.3M |
| 2 |
Bank of America
BAC
|
+$60.7M |
| 3 |
Wells Fargo
WFC
|
+$46.3M |
| 4 |
Citigroup
C
|
+$33.4M |
| 5 |
US Bancorp
USB
|
+$18.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$535M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$484M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$386M |
| 4 |
iShares MSCI Brazil ETF
EWZ
|
+$74.6M |
| 5 |
Biogen
BIIB
|
+$55.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 6.62% |
| 2 | Consumer Discretionary | 3.62% |
| 3 | Industrials | 2.16% |
| 4 | Materials | 1.56% |
| 5 | Technology | 1.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
426
News Corp Class A
NWSA
$15.4B
| $445K | ﹤0.01% |
31,462
+6,913
| +28% | +$93K |
|
427
APA Corp
APA
$13.3B
| $442K | ﹤0.01% |
17,283
+304
| +2% | +$6.88K |
|
428
ON Semiconductor
ON
$19.3B
| $433K | ﹤0.01% |
+17,748
| New | +$375K |
|
429
Xerox
XRX
$425M
| $432K | ﹤0.01% |
+11,707
| New | +$409K |
|
430
Dillards
DDS
$9.56B
| $431K | ﹤0.01% |
+5,872
| New | +$416K |
|
431
F5
FFIV
$22.7B
| $430K | ﹤0.01% |
3,080
-49,327
| -94% | -$6.95M |
|
|
JNPR
432
DELISTED
Juniper Networks
JNPR
| $429K | ﹤0.01% |
17,434
-140,178
| -89% | -$3.45M |
|
433
HUTCHMED
HCM
$2.17B
| $422K | ﹤0.01% |
16,822
+324
| +2% | +$7.09K |
|
434
SSR Mining
SSRM
$6.48B
| $405K | ﹤0.01% |
21,003
-521
| -2% | -$8.11K |
|
435
IPG Photonics
IPGP
$3.84B
| $402K | ﹤0.01% |
+2,776
| New | +$386K |
|
436
Nordson
NDSN
$17.3B
| $400K | ﹤0.01% |
+2,458
| New | +$388K |
|
437
Wolfspeed
WOLF
$1.71B
| $399K | ﹤0.01% |
+8,635
| New | +$403K |
|
438
Capitol Federal Financial
CFFN
$1.1B
| $391K | ﹤0.01% |
+28,497
| New | +$401K |
|
|
PVG
439
DELISTED
PRETIUM RESOURCES INC.
PVG
| $379K | ﹤0.01% |
34,078
+2,793
| +9% | +$29.7K |
|
440
Graham Holdings Company
GHC
$5.02B
| $371K | ﹤0.01% |
+580
| New | +$371K |
|
441
Sensata Technologies
ST
$6.79B
| $371K | ﹤0.01% |
+6,884
| New | +$354K |
|
442
Arrow Electronics
ARW
$10.4B
| $370K | ﹤0.01% |
+4,366
| New | +$347K |
|
|
CTRA
443
DELISTED
Coterra Energy
CTRA
| $368K | ﹤0.01% |
21,132
-730,877
| -97% | -$12.7M |
|
444
Graco
GGG
$13.5B
| $360K | ﹤0.01% |
+6,923
| New | +$331K |
|
445
Rambus
RMBS
$11B
| $356K | ﹤0.01% |
+25,868
| New | +$347K |
|
446
Ingersoll Rand
IR
$33.7B
| $354K | ﹤0.01% |
+9,652
| New | +$317K |
|
|
ODP
447
DELISTED
ODP
ODP
| $347K | ﹤0.01% |
+12,679
| New | +$282K |
|
|
MDP
448
DELISTED
Meredith Corporation
MDP
| $342K | ﹤0.01% |
+10,525
| New | +$374K |
|
449
Flex
FLEX
$44.8B
| $336K | ﹤0.01% |
35,278
+20,085
| +132% | +$173K |
|
450
Jabil
JBL
$35.8B
| $331K | ﹤0.01% |
+8,002
| New | +$307K |
|
Similar funds
Ray Dalio's Q4 2019 Portfolio in Review
As of Q4 2019, Ray Dalio held 589 positions worth $9.79B, down 14% from $11.4B the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Ray Dalio withdrew a net $2.32B in Q4 2019, closing 118 positions and reducing 104 holdings. Its most notable exit was Biogen, an estimated $55.3M position sold in full.
By sector, the portfolio is most concentrated in Financials at 6.6% of assets, up from 3.2% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Ray Dalio opened a new position in JPMorgan Chase worth $90.5M.
- Ray Dalio's largest Q4 2019 buy was JPMorgan Chase: 649,376 shares worth $90.5M.
- Ray Dalio added most to iShares MSCI Taiwan ETF in Q4 2019, an estimated $16.2M increase.
- Ray Dalio's biggest Q4 2019 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $535M.
- Ray Dalio fully exited Biogen in Q4 2019, selling an estimated $55.3M.
- Ray Dalio's ten largest holdings make up 67% of its $9.79B portfolio in Q4 2019.
- Ray Dalio opened 256 new positions and closed 118 in Q4 2019.
- Ray Dalio's portfolio value fell 14% quarter-over-quarter to $9.79B.
Based on Bridgewater Associates's 13F filing for Q4 2019, filed 13 Feb 2020.