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 | |
|---|---|---|---|---|---|---|
426
Generac Holdings
GNRC
$12.5B
| $726K | 0.01% |
+3,192
| New | +$687K |
|
427
Donaldson
DCI
$11.4B
| $713K | 0.01% |
12,754
+3,473
| +37% | +$183K |
|
428
Open Text
OTEX
$6.04B
| $713K | 0.01% |
+15,705
| New | +$671K |
|
|
AVLR
429
DELISTED
Avalara, Inc.
AVLR
| $705K | 0.01% |
4,274
+2,373
| +125% | +$380K |
|
430
Lincoln Electric
LECO
$15.4B
| $701K | 0.01% |
6,031
+1,607
| +36% | +$176K |
|
431
Brookfield
BN
$108B
| $677K | 0.01% |
30,617
| – | – |
|
432
Royalty Pharma
RPRX
$25.2B
| $677K | 0.01% |
+13,535
| New | +$574K |
|
433
BWX Technologies
BWXT
$15.6B
| $669K | 0.01% |
+11,095
| New | +$639K |
|
|
CRON
434
Cronos Group
CRON
$1.14B
| $666K | 0.01% |
+96,010
| New | +$661K |
|
435
Baker Hughes
BKR
$61.1B
| $665K | 0.01% |
+31,886
| New | +$560K |
|
|
MIC
436
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
| $665K | 0.01% |
+17,719
| New | +$544K |
|
437
MillerKnoll
MLKN
$1.67B
| $655K | 0.01% |
19,383
-4,564
| -19% | -$159K |
|
|
AUY
438
DELISTED
Yamana Gold, Inc.
AUY
| $650K | 0.01% |
113,938
+92,015
| +420% | +$518K |
|
439
Worthington Enterprises
WOR
$2.86B
| $648K | 0.01% |
20,462
-15,258
| -43% | -$475K |
|
440
SSR Mining
SSRM
$6.48B
| $614K | 0.01% |
+30,591
| New | +$583K |
|
|
SKX
441
DELISTED
Skechers
SKX
| $602K | 0.01% |
16,749
+1,326
| +9% | +$45.1K |
|
|
BEST
442
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
| $600K | 0.01% |
14,702
-5,011
| -25% | -$268K |
|
443
Shopify
SHOP
$195B
| $598K | 0.01% |
+5,300
| New | +$556K |
|
444
Bank OZK
OZK
$5.61B
| $584K | 0.01% |
+18,680
| New | +$505K |
|
445
Matsons
MATX
$6.18B
| $583K | 0.01% |
10,235
-3,876
| -27% | -$212K |
|
446
Intuit
INTU
$89B
| $580K | 0.01% |
+1,528
| New | +$537K |
|
|
XLNX
447
DELISTED
Xilinx Inc
XLNX
| $572K | 0.01% |
4,036
-13,103
| -76% | -$1.7M |
|
|
UFS
448
DELISTED
DOMTAR CORPORATION (New)
UFS
| $563K | ﹤0.01% |
17,796
-4,982
| -22% | -$142K |
|
449
Stantec
STN
$8.39B
| $551K | ﹤0.01% |
+17,012
| New | +$522K |
|
450
Enphase Energy
ENPH
$5.53B
| $545K | ﹤0.01% |
+3,108
| New | +$394K |
|
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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.