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 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
Campbell Soup
CPB
$6.87B
| $1.28M | 0.01% |
+29,450
| New | +$1.23M |
|
527
Privia Health
PRVA
$2.87B
| $1.28M | 0.01% |
49,422
-28,170
| -36% | -$702K |
|
528
Cerus
CERS
$474M
| $1.27M | 0.01% |
186,864
+11,584
| +7% | +$78K |
|
529
Stantec
STN
$8.39B
| $1.27M | 0.01% |
22,599
+10,681
| +90% | +$577K |
|
530
IQVIA
IQV
$39.3B
| $1.26M | 0.01% |
4,456
-3,432
| -44% | -$891K |
|
|
PXD
531
DELISTED
Pioneer Natural Resource Co.
PXD
| $1.26M | 0.01% |
6,909
+2,586
| +60% | +$476K |
|
532
Ameren
AEE
$30.1B
| $1.26M | 0.01% |
+14,106
| New | +$1.2M |
|
533
Constellium
CSTM
$3.99B
| $1.26M | 0.01% |
70,148
+38,387
| +121% | +$705K |
|
534
Voya Financial
VOYA
$9.19B
| $1.24M | 0.01% |
18,764
-26,297
| -58% | -$1.73M |
|
|
SNV
535
DELISTED
Synovus
SNV
| $1.24M | 0.01% |
25,960
-31,371
| -55% | -$1.49M |
|
536
BioMarin Pharmaceuticals
BMRN
$12.4B
| $1.24M | 0.01% |
13,983
-27
| -0.2% | -$2.23K |
|
537
DTE Energy
DTE
$29.1B
| $1.23M | 0.01% |
+10,310
| New | +$1.18M |
|
538
Entergy
ETR
$50B
| $1.23M | 0.01% |
+21,776
| New | +$1.14M |
|
539
iShares MSCI South Korea ETF
EWY
$24.1B
| $1.2M | 0.01% |
15,398
+4,419
| +40% | +$349K |
|
540
FirstEnergy
FE
$27.5B
| $1.19M | 0.01% |
+28,712
| New | +$1.11M |
|
541
Clearway Energy Class C
CWEN
$6.7B
| $1.19M | 0.01% |
+33,014
| New | +$1.17M |
|
542
Affiliated Managers Group
AMG
$9.76B
| $1.19M | 0.01% |
7,205
-9,216
| -56% | -$1.55M |
|
|
PPL
543
PPL Corp
PPL
$26.7B
| $1.18M | 0.01% |
+39,197
| New | +$1.13M |
|
544
Popular Inc
BPOP
$11.1B
| $1.16M | 0.01% |
14,185
-17,101
| -55% | -$1.39M |
|
545
AngioDynamics
ANGO
$649M
| $1.15M | 0.01% |
41,749
+1,793
| +4% | +$49.5K |
|
|
CTLT
546
DELISTED
CATALENT, INC.
CTLT
| $1.14M | 0.01% |
8,935
-1,472
| -14% | -$189K |
|
547
Boeing
BA
$185B
| $1.14M | 0.01% |
5,667
-6,712
| -54% | -$1.42M |
|
548
West Fraser Timber
WFG
$5.65B
| $1.14M | 0.01% |
11,899
-35,031
| -75% | -$3.03M |
|
549
Itron
ITRI
$4.54B
| $1.12M | 0.01% |
+16,391
| New | +$1.15M |
|
550
Liberty Global Class C
LBTYK
$3.49B
| $1.11M | 0.01% |
39,694
-12,411
| -24% | -$354K |
|
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Ray Dalio's Q4 2021 Portfolio in Review
As of Q4 2021, Ray Dalio held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Ray Dalio opened a new position in RTX Corp worth $16M.
- Ray Dalio's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Ray Dalio added most to Alibaba in Q4 2021, an estimated $142M increase.
- Ray Dalio's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Ray Dalio fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Ray Dalio's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Ray Dalio opened 137 new positions and closed 89 in Q4 2021.
- Ray Dalio's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.