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 | |
|---|---|---|---|---|---|---|
476
Cognizant
CTSH
$26B
| – | – |
-29,354
| Closed | -$2.36M |
|
477
CoreCivic
CXW
$3.19B
| – | – |
-16,182
| Closed | -$316K |
|
478
Darden Restaurants
DRI
$24.4B
| – | – |
-97,969
| Closed | -$8.35M |
|
479
DaVita
DVA
$11.7B
| – | – |
-223,124
| Closed | -$14.7M |
|
480
Consolidated Edison
ED
$39.8B
| – | – |
-7,850
| Closed | -$612K |
|
481
Everest Group
EG
$14.4B
| – | – |
-992
| Closed | -$255K |
|
482
Elevance Health
ELV
$85.5B
| – | – |
-7,493
| Closed | -$1.65M |
|
483
Erie Indemnity
ERIE
$13.2B
| – | – |
-2,288
| Closed | -$269K |
|
484
East-West Bancorp
EWBC
$18B
| – | – |
-10,841
| Closed | -$678K |
|
485
Exelon
EXC
$47B
| – | – |
-30,442
| Closed | -$847K |
|
486
First American
FAF
$7.58B
| – | – |
-4,466
| Closed | -$262K |
|
487
Freeport-McMoran
FCX
$97.5B
| – | – |
-534,699
| Closed | -$9.39M |
|
488
Fidelity National Information Services
FIS
$22.1B
| – | – |
-2,969
| Closed | -$286K |
|
489
Flowers Foods
FLO
$1.57B
| – | – |
-19,964
| Closed | -$436K |
|
490
GE Aerospace
GE
$384B
| – | – |
-306,844
| Closed | -$19.8M |
|
491
Huntington Bancshares
HBAN
$35.5B
| – | – |
-63,352
| Closed | -$957K |
|
|
HOLX
492
DELISTED
Hologic
HOLX
| – | – |
-20,164
| Closed | -$753K |
|
493
Hormel Foods
HRL
$13.8B
| – | – |
-16,008
| Closed | -$549K |
|
494
H&R Block
HRB
$5.86B
| – | – |
-12,862
| Closed | -$327K |
|
495
Illinois Tool Works
ITW
$85.3B
| – | – |
-8,164
| Closed | -$1.28M |
|
496
Jefferies Financial Group
JEF
$13.1B
| – | – |
-76,442
| Closed | -$1.55M |
|
|
K
497
DELISTED
Kellanova
K
| – | – |
-72,683
| Closed | -$4.44M |
|
498
Kemper
KMPR
$1.68B
| – | – |
-4,506
| Closed | -$257K |
|
499
Loews
L
$23.6B
| – | – |
-5,305
| Closed | -$264K |
|
500
Lamar Advertising Co
LAMR
$16.3B
| – | – |
-20,126
| Closed | -$1.28M |
|
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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.