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 MSCI Emerging Markets ETF
EEM
|
+$709M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$272M |
| 3 |
iShares TIPS Bond ETF
TIP
|
+$141M |
| 4 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$91.1M |
| 5 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$66.1M |
| 2 |
ENDP
Endo International plc
ENDP
|
+$26.8M |
| 3 |
Cleveland-Cliffs
CLF
|
+$15.9M |
| 4 |
Walt Disney
DIS
|
+$14.7M |
| 5 |
IPG
Interpublic Group of Companies
IPG
|
+$14.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 2.42% |
| 2 | Energy | 2.05% |
| 3 | Technology | 1.4% |
| 4 | Healthcare | 1.37% |
| 5 | Financials | 1.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
FirstEnergy
FE
$27.5B
| $24.9M | 0.23% |
855,104
+368,236
| +76% | +$10.9M |
|
27
GameStop
GME
$8.6B
| $24.6M | 0.23% |
4,550,252
+786,272
| +21% | +$4.44M |
|
|
NFX
28
DELISTED
Newfield Exploration
NFX
| $23.5M | 0.22% |
825,717
+708,436
| +604% | +$23.3M |
|
29
Ralph Lauren
RL
$23.5B
| $23.4M | 0.21% |
317,058
+308,722
| +3,703% | +$23.2M |
|
30
Royal Bank of Canada
RY
$293B
| $21.2M | 0.19% |
+292,688
| New | +$20.5M |
|
31
GE Aerospace
GE
$384B
| $18.6M | 0.17% |
143,417
+17,206
| +14% | +$2.36M |
|
32
Toronto Dominion Bank
TD
$200B
| $18.6M | 0.17% |
+369,816
| New | +$17.8M |
|
33
Kohl's
KSS
$2.19B
| $17.8M | 0.16% |
459,476
+193,041
| +72% | +$7.4M |
|
|
ENDP
34
DELISTED
Endo International plc
ENDP
| $17.2M | 0.16% |
1,539,408
-2,286,094
| -60% | -$26.8M |
|
35
Freeport-McMoran
FCX
$97.5B
| $16.8M | 0.15% |
1,400,808
+942,322
| +206% | +$11.4M |
|
36
Procter & Gamble
PG
$339B
| $16.5M | 0.15% |
+189,167
| New | +$16.7M |
|
37
Target
TGT
$68B
| $15.9M | 0.15% |
+304,113
| New | +$16.6M |
|
38
Scotiabank
BNS
$108B
| $15.3M | 0.14% |
+254,318
| New | +$14.6M |
|
39
Warner Bros
WBD
$67.1B
| $14.7M | 0.13% |
+568,025
| New | +$15.4M |
|
|
NE
40
DELISTED
Noble Corporation
NE
| $14.6M | 0.13% |
4,043,232
+401,362
| +11% | +$1.85M |
|
41
IBM
IBM
$224B
| $13.5M | 0.12% |
91,595
+3,055
| +3% | +$461K |
|
42
Kroger
KR
$34.8B
| $12.5M | 0.11% |
534,450
+498,984
| +1,407% | +$14.2M |
|
43
Suncor Energy
SU
$70.3B
| $12.4M | 0.11% |
423,565
+6,865
| +2% | +$211K |
|
44
Biogen
BIIB
$30.7B
| $12.2M | 0.11% |
44,981
-466
| -1% | -$123K |
|
|
GAP
45
The Gap Inc
GAP
$7.37B
| $12.1M | 0.11% |
551,572
+273,572
| +98% | +$6.51M |
|
46
VeriSign
VRSN
$26.6B
| $12.1M | 0.11% |
129,823
+66,477
| +105% | +$6M |
|
47
Canadian National Railway
CNI
$76.6B
| $12.1M | 0.11% |
+149,122
| New | +$11.4M |
|
48
Adobe
ADBE
$105B
| $11.9M | 0.11% |
84,446
-5,218
| -6% | -$714K |
|
49
BorgWarner
BWA
$13.9B
| $11.9M | 0.11% |
+319,678
| New | +$11.6M |
|
50
Bread Financial
BFH
$4.38B
| $11.8M | 0.11% |
57,526
-7,333
| -11% | -$1.46M |
|
Similar funds
Ray Dalio's Q2 2017 Portfolio in Review
As of Q2 2017, Ray Dalio held 410 positions worth $10.9B, up 24% from $8.82B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Ray Dalio deployed $1.94B of net new capital in Q2 2017, opening 174 new positions and adding to 72 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 1,233,390 shares worth $140M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 2.4% of assets, up from 2.2% a quarter earlier, followed by Energy and Technology.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $66.1M trimmed.
- Ray Dalio's largest Q2 2017 buy was iShares TIPS Bond ETF: 1,233,390 shares worth $140M.
- Ray Dalio added most to iShares MSCI Emerging Markets ETF in Q2 2017, an estimated $709M increase.
- Ray Dalio's biggest Q2 2017 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $66.1M.
- Ray Dalio fully exited Walt Disney in Q2 2017, selling an estimated $14.7M.
- Ray Dalio's ten largest holdings make up 83% of its $10.9B portfolio in Q2 2017.
- Ray Dalio opened 174 new positions and closed 67 in Q2 2017.
- Ray Dalio's portfolio value rose 24% quarter-over-quarter to $10.9B.
Based on Bridgewater Associates's 13F filing for Q2 2017, filed 10 Aug 2017.