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
|
+$61.9M |
| 2 |
Coca-Cola
KO
|
+$46.9M |
| 3 |
Broadcom
AVGO
|
+$46.8M |
| 4 |
SLB Ltd
SLB
|
+$40.3M |
| 5 |
Netflix
NFLX
|
+$40.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76.6M |
| 2 |
Johnson & Johnson
JNJ
|
+$75.4M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$49.3M |
| 4 |
Tradeweb Markets
TW
|
+$48M |
| 5 |
Visa
V
|
+$40.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 26.52% |
| 2 | Healthcare | 20.27% |
| 3 | Consumer Discretionary | 12.77% |
| 4 | Technology | 5.33% |
| 5 | Financials | 4.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
601
Installed Building Products
IBP
$6.49B
| $1.01M | 0.01% |
+8,122
| New | +$1.15M |
|
602
AdaptHealth
AHCO
$759M
| $1M | 0.01% |
110,311
+19,942
| +22% | +$239K |
|
603
Artisan Partners
APAM
$3.02B
| $1M | 0.01% |
+26,809
| New | +$1.04M |
|
604
Essential Properties Realty Trust
EPRT
$6.62B
| $1M | 0.01% |
+46,344
| New | +$1.11M |
|
605
Chegg
CHGG
$102M
| $1M | 0.01% |
112,197
-145,669
| -56% | -$1.42M |
|
606
CareTrust REIT
CTRE
$9.74B
| $1M | 0.01% |
+48,806
| New | +$988K |
|
607
Ecolab
ECL
$79.9B
| $987K | 0.01% |
5,829
+789
| +16% | +$143K |
|
608
MYR Group
MYRG
$5.25B
| $977K | 0.01% |
+7,251
| New | +$1.03M |
|
609
SI-BONE Inc
SIBN
$834M
| $976K | 0.01% |
45,971
+9,221
| +25% | +$214K |
|
610
SL Green Realty
SLG
$3.99B
| $972K | 0.01% |
26,070
-7,212
| -22% | -$259K |
|
611
Alexandria Real Estate Equities
ARE
$8.56B
| $971K | 0.01% |
9,699
+240
| +3% | +$27.9K |
|
612
AtriCure
ATRC
$2.11B
| $961K | 0.01% |
21,947
-38,723
| -64% | -$1.89M |
|
613
Neogen
NEOG
$2.5B
| $961K | 0.01% |
51,812
-172,555
| -77% | -$3.76M |
|
614
NMI Holdings
NMIH
$3.36B
| $957K | 0.01% |
+35,321
| New | +$984K |
|
615
Cadence Design Systems
CDNS
$93.4B
| $953K | 0.01% |
4,068
-1,872
| -32% | -$438K |
|
616
Qorvo
QRVO
$8.74B
| $953K | 0.01% |
+9,983
| New | +$1.02M |
|
617
Shake Shack
SHAK
$2.87B
| $947K | 0.01% |
16,314
-56,902
| -78% | -$4.04M |
|
618
National Healthcare
NHC
$3.38B
| $945K | 0.01% |
14,766
+1,202
| +9% | +$77K |
|
619
M/I Homes
MHO
$3.84B
| $938K | 0.01% |
+11,156
| New | +$1.03M |
|
|
ACCD
620
DELISTED
Accolade Inc
ACCD
| $938K | 0.01% |
88,613
+10,375
| +13% | +$136K |
|
621
Alcoa
AA
$13.2B
| $924K | 0.01% |
31,797
+571
| +2% | +$17.9K |
|
622
Alkermes
ALKS
$8.25B
| $922K | 0.01% |
32,901
-1,367
| -4% | -$40.1K |
|
623
Applied Materials
AMAT
$428B
| $911K | 0.01% |
+6,577
| New | +$943K |
|
624
Green Brick Partners
GRBK
$3.14B
| $897K | 0.01% |
+21,602
| New | +$1.08M |
|
625
Open Text
OTEX
$6.04B
| $884K | 0.01% |
25,085
+6,966
| +38% | +$273K |
|
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Ray Dalio's Q3 2023 Portfolio in Review
As of Q3 2023, Ray Dalio held 826 positions worth $16.5B, up 2.2% from $16.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Ray Dalio deployed $1.1B of net new capital in Q3 2023, opening 130 new positions and adding to 388 existing holdings. Its largest new stake was Broadcom: 540,410 shares worth $44.9M.
By sector, the portfolio is most concentrated in Consumer Staples at 27% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Vanguard FTSE Emerging Markets ETF, an estimated $76.6M trimmed.
- Ray Dalio's largest Q3 2023 buy was Broadcom: 540,410 shares worth $44.9M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2023, an estimated $61.9M increase.
- Ray Dalio's biggest Q3 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $76.6M.
- Ray Dalio fully exited Corteva in Q3 2023, selling an estimated $19M.
- Ray Dalio's ten largest holdings make up 34% of its $16.5B portfolio in Q3 2023.
- Ray Dalio opened 130 new positions and closed 86 in Q3 2023.
- Ray Dalio's portfolio value rose 2.2% quarter-over-quarter to $16.5B.
Based on Bridgewater Associates's 13F filing for Q3 2023, filed 13 Nov 2023.