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 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
451
CorVel
CRVL
$3.19B
| $2.19M | 0.01% |
31,659
-18,606
| -37% | -$1.17M |
|
452
AES
AES
$10.5B
| $2.19M | 0.01% |
90,237
+80,728
| +849% | +$1.96M |
|
453
Xcel Energy
XEL
$48.8B
| $2.17M | 0.01% |
+32,124
| New | +$2.09M |
|
454
Rollins
ROL
$18.2B
| $2.13M | 0.01% |
62,175
+46,139
| +288% | +$1.62M |
|
455
Lantheus
LNTH
$6.59B
| $2.12M | 0.01% |
73,231
+7,585
| +12% | +$202K |
|
456
Commercial Metals
CMC
$8.31B
| $2.1M | 0.01% |
57,948
+319
| +0.6% | +$10.6K |
|
457
Realty Income
O
$59.1B
| $2.09M | 0.01% |
+29,179
| New | +$2.01M |
|
|
NXGN
458
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
| $2.07M | 0.01% |
116,510
-2,548
| -2% | -$40.9K |
|
|
MODV
459
DELISTED
ModivCare
MODV
| $2.06M | 0.01% |
13,911
+604
| +5% | +$93.4K |
|
|
HSKA
460
DELISTED
Heska Corp
HSKA
| $2.05M | 0.01% |
11,258
+1,264
| +13% | +$251K |
|
|
CMA
461
DELISTED
Comerica
CMA
| $2.04M | 0.01% |
23,495
-28,712
| -55% | -$2.46M |
|
462
Lithia Motors
LAD
$8.26B
| $2.04M | 0.01% |
6,871
-666
| -9% | -$206K |
|
463
OptimizeRx
OPRX
$133M
| $2.03M | 0.01% |
32,700
+4,150
| +15% | +$314K |
|
464
Sempra
SRE
$54.8B
| $2.01M | 0.01% |
30,438
+6,130
| +25% | +$388K |
|
465
East-West Bancorp
EWBC
$18B
| $1.99M | 0.01% |
25,287
-30,198
| -54% | -$2.43M |
|
466
SL Green Realty
SLG
$3.99B
| $1.98M | 0.01% |
+26,792
| New | +$1.97M |
|
467
Western Alliance Bancorporation
WAL
$8.87B
| $1.98M | 0.01% |
18,353
-19,810
| -52% | -$2.23M |
|
468
BellRing Brands
BRBR
$1.34B
| $1.95M | 0.01% |
68,172
+34,389
| +102% | +$898K |
|
469
AdaptHealth
AHCO
$759M
| $1.92M | 0.01% |
78,605
-43,688
| -36% | -$1.03M |
|
470
Seaboard Corp
SEB
$4.06B
| $1.92M | 0.01% |
488
-316
| -39% | -$1.26M |
|
471
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
| $1.87M | 0.01% |
21,460
| – | – |
|
472
Invesco
IVZ
$13.9B
| $1.87M | 0.01% |
81,116
-103,020
| -56% | -$2.51M |
|
473
Public Service Enterprise Group
PEG
$37.7B
| $1.86M | 0.01% |
+27,859
| New | +$1.76M |
|
|
BNR
474
Burning Rock Biotech
BNR
$92.9M
| $1.84M | 0.01% |
19,360
+3,540
| +22% | +$485K |
|
|
AVNS
475
DELISTED
Avanos Medical
AVNS
| $1.84M | 0.01% |
52,951
+5,735
| +12% | +$185K |
|
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Ray Dalio's Q4 2021 Portfolio in Review
As of Q4 2021, Ray Dalio held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Ray Dalio opened a new position in RTX Corp worth $16M.
- Ray Dalio's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Ray Dalio added most to Alibaba in Q4 2021, an estimated $142M increase.
- Ray Dalio's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Ray Dalio fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Ray Dalio's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Ray Dalio opened 137 new positions and closed 89 in Q4 2021.
- Ray Dalio's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.