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 | |
|---|---|---|---|---|---|---|
626
Bank of Hawaii
BOH
$3.13B
| $601K | ﹤0.01% |
7,172
-8,635
| -55% | -$727K |
|
627
AerCap
AER
$23.8B
| $596K | ﹤0.01% |
9,112
+184
| +2% | +$11.4K |
|
628
Chevron
CVX
$366B
| $593K | ﹤0.01% |
5,057
+2,896
| +134% | +$329K |
|
|
DOYU
629
DouYu International Holdings
DOYU
$142M
| $591K | ﹤0.01% |
22,387
-13,193
| -37% | -$403K |
|
630
CGI
GIB
$15.5B
| $590K | ﹤0.01% |
6,662
-12,289
| -65% | -$1.08M |
|
|
AUY
631
DELISTED
Yamana Gold, Inc.
AUY
| $588K | ﹤0.01% |
139,582
-67,809
| -33% | -$281K |
|
632
Cheniere Energy
LNG
$52.9B
| $586K | ﹤0.01% |
5,776
+2,155
| +60% | +$225K |
|
633
B2Gold
BTG
$6.7B
| $578K | ﹤0.01% |
146,718
-51,609
| -26% | -$207K |
|
|
ERF
634
DELISTED
Enerplus Corporation
ERF
| $573K | ﹤0.01% |
54,291
+20,628
| +61% | +$200K |
|
|
BHVN
635
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
| $568K | ﹤0.01% |
+4,118
| New | +$524K |
|
|
ATVI
636
DELISTED
Activision Blizzard
ATVI
| $561K | ﹤0.01% |
+8,427
| New | +$576K |
|
637
Charles River Laboratories
CRL
$12.8B
| $560K | ﹤0.01% |
1,487
+838
| +129% | +$326K |
|
|
HES
638
DELISTED
Hess
HES
| $551K | ﹤0.01% |
+7,441
| New | +$603K |
|
639
Bio-Techne
TECH
$11.3B
| $534K | ﹤0.01% |
4,128
+288
| +8% | +$35.3K |
|
640
Rayonier
RYN
$6.55B
| $526K | ﹤0.01% |
+14,362
| New | +$499K |
|
641
UGI
UGI
$7.33B
| $522K | ﹤0.01% |
+11,363
| New | +$505K |
|
642
SLB Ltd
SLB
$75B
| $521K | ﹤0.01% |
17,408
-12,176
| -41% | -$384K |
|
643
Millicom
TIGO
$16.3B
| $520K | ﹤0.01% |
18,265
+11,133
| +156% | +$369K |
|
|
SRCL
644
DELISTED
Stericycle Inc
SRCL
| $516K | ﹤0.01% |
+8,650
| New | +$542K |
|
645
Curtiss-Wright
CW
$25.5B
| $512K | ﹤0.01% |
+3,689
| New | +$487K |
|
646
Watts Water Technologies
WTS
$13.1B
| $512K | ﹤0.01% |
+2,638
| New | +$501K |
|
647
Transmedics
TMDX
$2.91B
| $501K | ﹤0.01% |
26,125
-3,201
| -11% | -$80.2K |
|
648
Compass Minerals
CMP
$1.15B
| $485K | ﹤0.01% |
9,501
+1,648
| +21% | +$100K |
|
649
Live Nation Entertainment
LYV
$42.1B
| $479K | ﹤0.01% |
4,001
+1,240
| +45% | +$134K |
|
650
Cameco
CCJ
$42.4B
| $472K | ﹤0.01% |
21,610
-14,506
| -40% | -$351K |
|
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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.