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 |
McDonald's
MCD
|
+$6.41M |
| 2 |
UnitedHealth
UNH
|
+$6.05M |
| 3 |
Lockheed Martin
LMT
|
+$6.04M |
| 4 |
Philip Morris
PM
|
+$5.55M |
| 5 |
Accenture
ACN
|
+$5.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.04B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$444M |
| 3 |
iShares Core S&P 500 ETF
IVV
|
+$277M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$226M |
| 5 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$132M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 4% |
| 2 | Financials | 2.7% |
| 3 | Industrials | 1.84% |
| 4 | Materials | 1.48% |
| 5 | Consumer Staples | 1.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
MarketAxess Holdings
MKTX
$5.72B
| – | – |
-7,810
| Closed | -$2.96M |
|
527
MillerKnoll
MLKN
$1.67B
| – | – |
-13,704
| Closed | -$571K |
|
528
Morgan Stanley
MS
$340B
| – | – |
-335,701
| Closed | -$17.2M |
|
529
Motorola Solutions
MSI
$77.4B
| – | – |
-8,748
| Closed | -$1.41M |
|
530
MSC Industrial Direct
MSM
$6.86B
| – | – |
-12,812
| Closed | -$1M |
|
531
Mettler-Toledo International
MTD
$28.6B
| – | – |
-614
| Closed | -$487K |
|
532
M&T Bank
MTB
$36.2B
| – | – |
-27,364
| Closed | -$4.64M |
|
533
Micron Technology
MU
$991B
| – | – |
-33,953
| Closed | -$1.83M |
|
534
Norwegian Cruise Line
NCLH
$8.84B
| – | – |
-49,372
| Closed | -$2.88M |
|
535
Nordson
NDSN
$17.3B
| – | – |
-2,458
| Closed | -$400K |
|
536
NetApp
NTAP
$37.2B
| – | – |
-11,702
| Closed | -$728K |
|
537
Northern Trust
NTRS
$33.9B
| – | – |
-43,847
| Closed | -$4.66M |
|
538
NVIDIA
NVDA
$5.42T
| – | – |
-134,520
| Closed | -$791K |
|
539
News Corp Class A
NWSA
$15.4B
| – | – |
-31,462
| Closed | -$445K |
|
540
New York Times
NYT
$10.2B
| – | – |
-38,558
| Closed | -$1.24M |
|
541
Universal Display
OLED
$4.19B
| – | – |
-2,262
| Closed | -$466K |
|
542
Olin
OLN
$2.12B
| – | – |
-37,053
| Closed | -$639K |
|
543
ON Semiconductor
ON
$19.3B
| – | – |
-17,748
| Closed | -$433K |
|
544
Oshkosh
OSK
$9.59B
| – | – |
-15,801
| Closed | -$1.5M |
|
545
Bank OZK
OZK
$5.61B
| – | – |
-26,656
| Closed | -$813K |
|
546
Palo Alto Networks
PANW
$297B
| – | – |
-29,874
| Closed | -$1.15M |
|
547
Paycom
PAYC
$10B
| – | – |
-7,716
| Closed | -$2.04M |
|
548
PACCAR
PCAR
$70.1B
| – | – |
-21,642
| Closed | -$1.14M |
|
549
PENN Entertainment
PENN
$2.7B
| – | – |
-26,885
| Closed | -$687K |
|
550
Principal Financial Group
PFG
$24.3B
| – | – |
-57,469
| Closed | -$3.16M |
|
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Ray Dalio's Q1 2020 Portfolio in Review
As of Q1 2020, Ray Dalio held 650 positions worth $5.04B, down 49% from $9.79B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Ray Dalio withdrew a net $3.42B in Q1 2020, closing 251 positions and reducing 191 holdings. Its most notable exit was JPMorgan Chase, an estimated $90.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 4% of assets, up from 3.6% a quarter earlier, followed by Financials and Industrials.
Against the trend, Ray Dalio opened a new position in McDonald's worth $5.38M.
- Ray Dalio's largest Q1 2020 buy was McDonald's: 32,541 shares worth $5.38M.
- Ray Dalio added most to Lowe's Companies in Q1 2020, an estimated $4.7M increase.
- Ray Dalio's biggest Q1 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.04B.
- Ray Dalio fully exited JPMorgan Chase in Q1 2020, selling an estimated $90.5M.
- Ray Dalio's ten largest holdings make up 68% of its $5.04B portfolio in Q1 2020.
- Ray Dalio opened 179 new positions and closed 251 in Q1 2020.
- Ray Dalio's portfolio value fell 49% quarter-over-quarter to $5.04B.
Based on Bridgewater Associates's 13F filing for Q1 2020, filed 14 May 2020.