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 S&P 500 ETF
IVV
|
+$380M |
| 2 |
iShares MSCI South Korea ETF
EWY
|
+$171M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$146M |
| 4 |
XEC
CIMAREX ENERGY CO
XEC
|
+$84.8M |
| 5 |
Bread Financial
BFH
|
+$78.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Brazil ETF
EWZ
|
+$133M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$92.5M |
| 3 |
iShares MSCI Taiwan ETF
EWT
|
+$37M |
| 4 |
Toll Brothers
TOL
|
+$33.7M |
| 5 |
NFX
Newfield Exploration
NFX
|
+$24.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 5.64% |
| 2 | Consumer Discretionary | 4.56% |
| 3 | Energy | 3.53% |
| 4 | Healthcare | 2.96% |
| 5 | Industrials | 2.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
451
Corning
GLW
$143B
| $277K | ﹤0.01% |
9,174
-37,030
| -80% | -$1.18M |
|
452
Sibanye-Stillwater
SBSW
$7.53B
| $262K | ﹤0.01% |
92,413
+1,387
| +2% | +$3.76K |
|
453
NVIDIA
NVDA
$5.42T
| $255K | ﹤0.01% |
+76,520
| New | +$366K |
|
|
PVG
454
DELISTED
PRETIUM RESOURCES INC.
PVG
| $254K | ﹤0.01% |
30,117
-2,257
| -7% | -$17.6K |
|
455
Ulta Beauty
ULTA
$24.3B
| $244K | ﹤0.01% |
+996
| New | +$275K |
|
456
American Eagle Outfitters
AEO
$3.01B
| $242K | ﹤0.01% |
+12,494
| New | +$260K |
|
457
Murphy USA
MUSA
$9.61B
| $241K | ﹤0.01% |
+3,151
| New | +$248K |
|
|
BIG
458
DELISTED
Big Lots, Inc.
BIG
| $241K | ﹤0.01% |
+8,348
| New | +$325K |
|
459
Sally Beauty Holdings
SBH
$1.58B
| $240K | ﹤0.01% |
+14,067
| New | +$263K |
|
460
Penske Automotive Group
PAG
$14.2B
| $239K | ﹤0.01% |
+5,930
| New | +$256K |
|
|
AXE
461
DELISTED
Anixter International Inc
AXE
| $239K | ﹤0.01% |
+4,401
| New | +$277K |
|
462
Dick's Sporting Goods
DKS
$18.7B
| $236K | ﹤0.01% |
+7,569
| New | +$263K |
|
|
GES
463
DELISTED
Guess Inc
GES
| $236K | ﹤0.01% |
+11,384
| New | +$241K |
|
|
GOLD
464
DELISTED
Randgold Resources Ltd
GOLD
| $224K | ﹤0.01% |
2,699
-11,821
| -81% | -$955K |
|
|
WW
465
DELISTED
WW International
WW
| $223K | ﹤0.01% |
+5,777
| New | +$317K |
|
|
JOYY
466
JOYY Inc
JOYY
$3.75B
| $222K | ﹤0.01% |
3,715
+194
| +6% | +$12.6K |
|
|
AUY
467
DELISTED
Yamana Gold, Inc.
AUY
| $176K | ﹤0.01% |
74,930
-74,286
| -50% | -$173K |
|
|
TAHO
468
DELISTED
Tahoe Resources Inc
TAHO
| $172K | ﹤0.01% |
47,268
-8,011
| -14% | -$24.6K |
|
|
TRQ
469
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $155K | ﹤0.01% |
9,408
+1,713
| +22% | +$30.9K |
|
|
NGD
470
DELISTED
New Gold Inc
NGD
| $61K | ﹤0.01% |
79,689
| – | – |
|
471
Eldorado Gold
EGO
$9.89B
| $41K | ﹤0.01% |
14,040
-13,847
| -50% | -$49.1K |
|
|
SFUN
472
DELISTED
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
| $37K | ﹤0.01% |
518
+47
| +10% | +$4.45K |
|
473
Aflac
AFL
$63.4B
| – | – |
-21,601
| Closed | -$1.02M |
|
474
AGNC Investment
AGNC
$12.9B
| – | – |
-19,703
| Closed | -$367K |
|
475
Amazon
AMZN
$2.96T
| – | – |
-9,340
| Closed | -$935K |
|
Similar funds
Ray Dalio's Q4 2018 Portfolio in Review
As of Q4 2018, Ray Dalio held 528 positions worth $10.9B, up 13% from $9.65B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Ray Dalio deployed $2.53B of net new capital in Q4 2018, opening 174 new positions and adding to 210 existing holdings. Its largest new stake was Eastman Chemical: 624,555 shares worth $45.7M.
By sector, the portfolio is most concentrated in Financials at 5.6% of assets, up from 3.4% a quarter earlier, followed by Consumer Discretionary and Energy.
On the sell side, the largest reduction was iShares MSCI Brazil ETF, an estimated $133M trimmed.
- Ray Dalio's largest Q4 2018 buy was Eastman Chemical: 624,555 shares worth $45.7M.
- Ray Dalio added most to iShares Core S&P 500 ETF in Q4 2018, an estimated $380M increase.
- Ray Dalio's biggest Q4 2018 reduction was iShares MSCI Brazil ETF, cutting an estimated $133M.
- Ray Dalio fully exited iShares MSCI Taiwan ETF in Q4 2018, selling an estimated $37M.
- Ray Dalio's ten largest holdings make up 62% of its $10.9B portfolio in Q4 2018.
- Ray Dalio opened 174 new positions and closed 56 in Q4 2018.
- Ray Dalio's portfolio value rose 13% quarter-over-quarter to $10.9B.
Based on Bridgewater Associates's 13F filing for Q4 2018, filed 13 Feb 2019.