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 | |
|---|---|---|---|---|---|---|
501
Lowe's Companies
LOW
$125B
| – | – |
-44,566
| Closed | -$3.91M |
|
502
Southwest Airlines
LUV
$23B
| – | – |
-114,762
| Closed | -$6.57M |
|
503
Macy's
M
$6.68B
| – | – |
-155,754
| Closed | -$4.63M |
|
504
Masco
MAS
$15.3B
| – | – |
-203,738
| Closed | -$8.24M |
|
505
Mercury Insurance
MCY
$6.07B
| – | – |
-5,583
| Closed | -$256K |
|
506
McCormick & Company Non-Voting
MKC
$14.2B
| – | – |
-16,618
| Closed | -$884K |
|
507
Marathon Petroleum
MPC
$83.7B
| – | – |
-24,453
| Closed | -$1.79M |
|
508
ServiceNow
NOW
$129B
| – | – |
-10,315
| Closed | -$341K |
|
509
Newell Brands
NWL
$2.56B
| – | – |
-49,655
| Closed | -$1.26M |
|
510
Old Republic International
ORI
$10.4B
| – | – |
-11,703
| Closed | -$251K |
|
511
PepsiCo
PEP
$190B
| – | – |
-100,321
| Closed | -$10.9M |
|
512
Principal Financial Group
PFG
$24.3B
| – | – |
-16,622
| Closed | -$1.01M |
|
|
513
Procter & Gamble
PG
$339B
| – | – |
-390,041
| Closed | -$30.9M |
|
514
Philip Morris
PM
$295B
| – | – |
-19,711
| Closed | -$1.96M |
|
515
PPG Industries
PPG
$26.6B
| – | – |
-14,666
| Closed | -$1.64M |
|
|
PRA
516
DELISTED
ProAssurance
PRA
| – | – |
-5,103
| Closed | -$248K |
|
517
Transocean
RIG
$5.82B
| – | – |
-1,320,394
| Closed | -$13.1M |
|
518
Raymond James Financial
RJF
$34B
| – | – |
-31,178
| Closed | -$1.86M |
|
519
RenaissanceRe
RNR
$13.4B
| – | – |
-1,857
| Closed | -$257K |
|
520
Rockwell Automation
ROK
$49B
| – | – |
-8,841
| Closed | -$1.54M |
|
521
Republic Services
RSG
$66B
| – | – |
-4,928
| Closed | -$326K |
|
522
J.M. Smucker
SJM
$12.8B
| – | – |
-14,604
| Closed | -$1.81M |
|
523
ScottsMiracle-Gro
SMG
$3.66B
| – | – |
-5,090
| Closed | -$436K |
|
524
Simon Property Group
SPG
$72.3B
| – | – |
-2,437
| Closed | -$376K |
|
525
Skyworks Solutions
SWKS
$10.6B
| – | – |
-71,920
| Closed | -$7.21M |
|
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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.