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 |
Lam Research
LRCX
|
+$182M |
| 2 |
Qualcomm
QCOM
|
+$134M |
| 3 |
Apple
AAPL
|
+$126M |
| 4 |
Constellation Energy
CEG
|
+$114M |
| 5 |
Broadcom
AVGO
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$338M |
| 2 |
Johnson & Johnson
JNJ
|
+$276M |
| 3 |
Walmart Inc
WMT
|
+$270M |
| 4 |
Costco
COST
|
+$236M |
| 5 |
McDonald's
MCD
|
+$231M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.57% |
| 2 | Consumer Discretionary | 11.09% |
| 3 | Healthcare | 10.72% |
| 4 | Consumer Staples | 9.72% |
| 5 | Communication Services | 9.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Vistra
VST
$47.4B
| $132M | 0.75% |
1,116,282
+641,893
| +135% | +$54.5M |
|
27
PepsiCo
PEP
$190B
| $129M | 0.73% |
757,894
-1,107,278
| -59% | -$190M |
|
28
Booking.com
BKNG
$161B
| $129M | 0.73% |
763,550
+139,825
| +22% | +$21.4M |
|
29
iShares MSCI South Korea ETF
EWY
$24.1B
| $123M | 0.7% |
1,927,560
+220,129
| +13% | +$14.3M |
|
30
McKesson
MCK
$101B
| $122M | 0.69% |
246,237
-11,028
| -4% | -$6.14M |
|
31
Cameco
CCJ
$42.4B
| $118M | 0.67% |
2,478,488
+410,711
| +20% | +$17.9M |
|
32
Applied Materials
AMAT
$428B
| $117M | 0.66% |
580,917
+464,061
| +397% | +$95.2M |
|
33
Cigna
CI
$74.6B
| $112M | 0.64% |
323,836
+41,140
| +15% | +$14.2M |
|
34
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33B
| $111M | 0.63% |
983,200
-11,000
| -1% | -$1.22M |
|
35
ExxonMobil
XOM
$634B
| $107M | 0.61% |
911,527
-29,651
| -3% | -$3.42M |
|
36
Micron Technology
MU
$991B
| $102M | 0.58% |
+983,685
| New | +$103M |
|
37
HCA Healthcare
HCA
$89.5B
| $102M | 0.58% |
250,041
-45,857
| -15% | -$16.8M |
|
38
Chevron
CVX
$366B
| $98.5M | 0.56% |
669,119
+515,672
| +336% | +$76.8M |
|
|
FISV
39
Fiserv Inc
FISV
$27.9B
| $97M | 0.55% |
539,762
-165,215
| -23% | -$27.3M |
|
40
PayPal
PYPL
$50.5B
| $95.3M | 0.54% |
1,221,461
-384,474
| -24% | -$25.7M |
|
41
Vanguard S&P 500 ETF
VOO
$1.01T
| $90.8M | 0.51% |
172,089
+139,488
| +428% | +$70.9M |
|
42
Target
TGT
$68B
| $86.3M | 0.49% |
553,461
-209,529
| -27% | -$31.2M |
|
43
ON Semiconductor
ON
$19.3B
| $81.5M | 0.46% |
1,123,041
+1,109,778
| +8,367% | +$80.8M |
|
44
Abbott
ABT
$187B
| $80.7M | 0.46% |
707,615
-960,854
| -58% | -$105M |
|
45
Wells Fargo
WFC
$264B
| $79.6M | 0.45% |
1,409,035
+605,146
| +75% | +$34.2M |
|
46
Salesforce
CRM
$158B
| $74M | 0.42% |
270,414
-12,858
| -5% | -$3.29M |
|
47
Altria Group
MO
$114B
| $73.4M | 0.42% |
1,438,565
+330,105
| +30% | +$16.7M |
|
48
NRG Energy
NRG
$24.8B
| $73.3M | 0.42% |
804,801
+627,121
| +353% | +$49.9M |
|
49
Expedia Group
EXPE
$37.3B
| $72.9M | 0.41% |
492,719
+86,256
| +21% | +$11.4M |
|
50
Chipotle Mexican Grill
CMG
$41.5B
| $72.4M | 0.41% |
1,256,728
-833,722
| -40% | -$46.1M |
|
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Ray Dalio's Q3 2024 Portfolio in Review
As of Q3 2024, Ray Dalio held 956 positions worth $17.7B, down 7.8% from $19.2B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Ray Dalio withdrew a net $2.45B in Q3 2024, closing 183 positions and reducing 428 holdings. Its most notable exit was Walt Disney, an estimated $19.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 14% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Ray Dalio opened a new position in Micron Technology worth $102M.
- Ray Dalio's largest Q3 2024 buy was Micron Technology: 983,685 shares worth $102M.
- Ray Dalio added most to Lam Research in Q3 2024, an estimated $182M increase.
- Ray Dalio's biggest Q3 2024 reduction was Procter & Gamble, cutting an estimated $338M.
- Ray Dalio fully exited Walt Disney in Q3 2024, selling an estimated $19.4M.
- Ray Dalio's ten largest holdings make up 32% of its $17.7B portfolio in Q3 2024.
- Ray Dalio opened 79 new positions and closed 183 in Q3 2024.
- Ray Dalio's portfolio value fell 7.8% quarter-over-quarter to $17.7B.
Based on Bridgewater Associates's 13F filing for Q3 2024, filed 13 Nov 2024.