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 |
Walmart Inc
WMT
|
+$186M |
| 2 |
Procter & Gamble
PG
|
+$163M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$134M |
| 4 |
Alibaba
BABA
|
+$101M |
| 5 |
Johnson & Johnson
JNJ
|
+$98.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$357M |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$350M |
| 3 |
iShares China Large-Cap ETF
FXI
|
+$46.8M |
| 4 |
iShares MSCI China ETF
MCHI
|
+$43.9M |
| 5 |
iShares MSCI South Korea ETF
EWY
|
+$14M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 15.05% |
| 2 | Consumer Discretionary | 13.12% |
| 3 | Healthcare | 5.46% |
| 4 | Industrials | 3.1% |
| 5 | Communication Services | 2.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
476
Iron Mountain
IRM
$36.1B
| – | – |
-10,480
| Closed | -$274K |
|
477
Loews
L
$23.6B
| – | – |
-10,248
| Closed | -$351K |
|
478
Leidos
LDOS
$17.3B
| – | – |
-4,633
| Closed | -$434K |
|
479
Lockheed Martin
LMT
$136B
| – | – |
-10,162
| Closed | -$3.71M |
|
480
Alliant Energy
LNT
$18B
| – | – |
-4,321
| Closed | -$207K |
|
481
Lumen
LUMN
$6.44B
| – | – |
-28,274
| Closed | -$284K |
|
482
Markel Group
MKL
$23.2B
| – | – |
-503
| Closed | -$464K |
|
483
Altria Group
MO
$114B
| – | – |
-67,649
| Closed | -$2.65M |
|
484
Northrop Grumman
NOC
$81.2B
| – | – |
-6,081
| Closed | -$1.87M |
|
485
Old Republic International
ORI
$10.4B
| – | – |
-11,066
| Closed | -$180K |
|
486
O'Reilly Automotive
ORLY
$76.3B
| – | – |
-30,930
| Closed | -$869K |
|
487
Paychex
PAYX
$42.7B
| – | – |
-13,058
| Closed | -$989K |
|
488
Public Service Enterprise Group
PEG
$37.7B
| – | – |
-8,519
| Closed | -$419K |
|
489
Progressive
PGR
$125B
| – | – |
-21,304
| Closed | -$1.71M |
|
490
Philip Morris
PM
$295B
| – | – |
-45,752
| Closed | -$3.21M |
|
|
PPL
491
PPL Corp
PPL
$26.7B
| – | – |
-12,389
| Closed | -$320K |
|
492
Public Storage
PSA
$61.3B
| – | – |
-6,352
| Closed | -$1.22M |
|
493
Rollins
ROL
$18.2B
| – | – |
-17,898
| Closed | -$506K |
|
494
Republic Services
RSG
$66B
| – | – |
-11,581
| Closed | -$950K |
|
495
SBA Communications
SBAC
$19.5B
| – | – |
-2,849
| Closed | -$849K |
|
496
Service Corp International
SCI
$11.6B
| – | – |
-6,530
| Closed | -$254K |
|
497
ScottsMiracle-Gro
SMG
$3.66B
| – | – |
-2,022
| Closed | -$272K |
|
498
Southern Company
SO
$107B
| – | – |
-6,323
| Closed | -$328K |
|
499
Sempra
SRE
$54.8B
| – | – |
-8,278
| Closed | -$485K |
|
500
Stratasys
SSYS
$774M
| – | – |
-10,570
| Closed | -$168K |
|
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Ray Dalio's Q3 2020 Portfolio in Review
As of Q3 2020, Ray Dalio held 513 positions worth $8.31B, up 39% from $5.96B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Ray Dalio deployed $1.74B of net new capital in Q3 2020, opening 130 new positions and adding to 276 existing holdings. Its largest new stake was Walmart Inc: 4,182,561 shares worth $195M.
By sector, the portfolio is most concentrated in Consumer Staples at 15% of assets, up from 1.3% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $357M trimmed.
- Ray Dalio's largest Q3 2020 buy was Walmart Inc: 4,182,561 shares worth $195M.
- Ray Dalio added most to iShares MSCI Emerging Markets ETF in Q3 2020, an estimated $134M increase.
- Ray Dalio's biggest Q3 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $357M.
- Ray Dalio fully exited 58.com Inc in Q3 2020, selling an estimated $6.82M.
- Ray Dalio's ten largest holdings make up 54% of its $8.31B portfolio in Q3 2020.
- Ray Dalio opened 130 new positions and closed 83 in Q3 2020.
- Ray Dalio's portfolio value rose 39% quarter-over-quarter to $8.31B.
Based on Bridgewater Associates's 13F filing for Q3 2020, filed 13 Nov 2020.