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 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$89.7M |
| 2 |
Cummins
CMI
|
+$35.2M |
| 3 |
Royal Bank of Canada
RY
|
+$32.9M |
| 4 |
Toll Brothers
TOL
|
+$32.7M |
| 5 |
Toronto Dominion Bank
TD
|
+$31.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$188M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$147M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76M |
| 4 |
NFX
Newfield Exploration
NFX
|
+$32.1M |
| 5 |
Procter & Gamble
PG
|
+$30.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 3.42% |
| 2 | Healthcare | 2.95% |
| 3 | Consumer Discretionary | 2.83% |
| 4 | Energy | 2.39% |
| 5 | Industrials | 2.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
451
Tractor Supply
TSCO
$18.1B
| $203K | ﹤0.01% |
13,295
-57,080
| -81% | -$794K |
|
|
CHS
452
DELISTED
Chicos FAS, Inc.
CHS
| $203K | ﹤0.01% |
24,935
+5,508
| +28% | +$52.1K |
|
453
American Eagle Outfitters
AEO
$3.01B
| $202K | ﹤0.01% |
+8,693
| New | +$193K |
|
454
Sally Beauty Holdings
SBH
$1.58B
| $202K | ﹤0.01% |
12,599
+2,006
| +19% | +$31.9K |
|
455
Dick's Sporting Goods
DKS
$18.7B
| $201K | ﹤0.01% |
+5,707
| New | +$194K |
|
456
Rollins
ROL
$18.2B
| $201K | ﹤0.01% |
8,591
-6,210
| -42% | -$141K |
|
457
Ulta Beauty
ULTA
$24.3B
| $201K | ﹤0.01% |
+861
| New | +$208K |
|
|
CVSA
458
Covista Inc
CVSA
$4.8B
| $200K | ﹤0.01% |
4,165
-2,792
| -40% | -$134K |
|
459
Pitney Bowes
PBI
$2.39B
| $194K | ﹤0.01% |
22,663
-6,590
| -23% | -$63.6K |
|
460
Vipshop
VIPS
$7.53B
| $137K | ﹤0.01% |
+12,658
| New | +$173K |
|
461
Apple
AAPL
$4.57T
| – | – |
-156,420
| Closed | -$6.56M |
|
462
Adobe
ADBE
$105B
| – | – |
-1,265
| Closed | -$273K |
|
463
Analog Devices
ADI
$190B
| – | – |
-3,614
| Closed | -$329K |
|
464
American Financial Group
AFG
$12.1B
| – | – |
-2,259
| Closed | -$254K |
|
465
Assured Guaranty
AGO
$3.34B
| – | – |
-7,101
| Closed | -$257K |
|
|
AIV
466
Aimco
AIV
$383M
| – | – |
-144,161
| Closed | -$783K |
|
467
Arthur J. Gallagher & Co
AJG
$63.6B
| – | – |
-12,538
| Closed | -$862K |
|
468
Amgen
AMGN
$222B
| – | – |
-62,499
| Closed | -$10.7M |
|
469
Brink's
BCO
$4.62B
| – | – |
-4,622
| Closed | -$330K |
|
470
Bunge Global
BG
$20.8B
| – | – |
-5,964
| Closed | -$441K |
|
471
Boston Scientific
BSX
$71.5B
| – | – |
-100,850
| Closed | -$2.75M |
|
472
Cullen/Frost Bankers
CFR
$10.2B
| – | – |
-9,270
| Closed | -$983K |
|
473
Church & Dwight Co
CHD
$24.5B
| – | – |
-8,460
| Closed | -$426K |
|
474
CNA Financial
CNA
$14.1B
| – | – |
-5,139
| Closed | -$254K |
|
475
Campbell Soup
CPB
$6.87B
| – | – |
-250,416
| Closed | -$10.8M |
|
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Ray Dalio's Q2 2018 Portfolio in Review
As of Q2 2018, Ray Dalio held 552 positions worth $10B, down 4.6% from $10.5B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Ray Dalio's Q2 2018 filing shows 92 new, 126 increased, 226 reduced and 92 closed positions. Its largest new stake was Cummins: 235,261 shares worth $31.3M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $188M.
By sector, the portfolio is most concentrated in Financials at 3.4% of assets, up from 2% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Ray Dalio's largest Q2 2018 buy was Cummins: 235,261 shares worth $31.3M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q2 2018, an estimated $89.7M increase.
- Ray Dalio's biggest Q2 2018 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $188M.
- Ray Dalio fully exited Procter & Gamble in Q2 2018, selling an estimated $30.9M.
- Ray Dalio's ten largest holdings make up 70% of its $10B portfolio in Q2 2018.
- Ray Dalio opened 92 new positions and closed 92 in Q2 2018.
- Ray Dalio's portfolio value fell 4.6% quarter-over-quarter to $10B.
Based on Bridgewater Associates's 13F filing for Q2 2018, filed 13 Aug 2018.