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
|
+$162M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$150M |
| 3 |
Meta Platforms (Facebook)
META
|
+$79.3M |
| 4 |
Microsoft
MSFT
|
+$61.4M |
| 5 |
AbbVie
ABBV
|
+$58.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$218M |
| 2 |
Pinduoduo
PDD
|
+$136M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$111M |
| 4 |
Bank of America
BAC
|
+$106M |
| 5 |
Walmart Inc
WMT
|
+$104M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 28.42% |
| 2 | Healthcare | 21.25% |
| 3 | Consumer Discretionary | 10.73% |
| 4 | Financials | 6.5% |
| 5 | Communication Services | 4.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
626
CenterPoint Energy
CNP
$26.8B
| $604K | ﹤0.01% |
20,505
-69,298
| -77% | -$2.02M |
|
627
Tractor Supply
TSCO
$18B
| $597K | ﹤0.01% |
12,690
-119,760
| -90% | -$5.45M |
|
628
Cincinnati Financial
CINF
$27.1B
| $594K | ﹤0.01% |
5,304
-47,206
| -90% | -$5.37M |
|
629
Kinsale Capital Group
KNSL
$8.51B
| $587K | ﹤0.01% |
+1,956
| New | +$572K |
|
|
630
Berkshire Hathaway Class B
BRK.B
$1.13T
| $584K | ﹤0.01% |
1,891
-358,998
| -99% | -$111M |
|
631
Arch Capital
ACGL
$33.6B
| $579K | ﹤0.01% |
8,532
-251,607
| -97% | -$16.5M |
|
632
Etsy
ETSY
$7.85B
| $576K | ﹤0.01% |
+5,176
| New | +$642K |
|
633
W.P. Carey
WPC
$16.4B
| $574K | ﹤0.01% |
+7,573
| New | +$603K |
|
|
SPTN
634
DELISTED
SpartanNash
SPTN
| $572K | ﹤0.01% |
23,071
-8,963
| -28% | -$258K |
|
635
Sherwin-Williams
SHW
$89.8B
| $570K | ﹤0.01% |
+2,538
| New | +$581K |
|
636
Toll Brothers
TOL
$14.5B
| $563K | ﹤0.01% |
9,374
+2,537
| +37% | +$146K |
|
637
Gray Television
GTN
$552M
| $555K | ﹤0.01% |
+63,658
| New | +$710K |
|
638
West Fraser Timber
WFG
$5.65B
| $555K | ﹤0.01% |
+7,788
| New | +$598K |
|
639
Steel Dynamics
STLD
$37.6B
| $553K | ﹤0.01% |
4,887
-3,380
| -41% | -$393K |
|
640
Ultragenyx Pharmaceutical
RARE
$2.55B
| $548K | ﹤0.01% |
+13,668
| New | +$586K |
|
641
Eversource Energy
ES
$27.2B
| $535K | ﹤0.01% |
6,841
-109,098
| -94% | -$8.62M |
|
|
NBP
642
NovaBridge Biosciences American Depositary Shares
NBP
$202M
| $524K | ﹤0.01% |
151,560
-54,223
| -26% | -$263K |
|
643
United Parks & Resorts
PRKS
$2.12B
| $520K | ﹤0.01% |
8,477
+3,852
| +83% | +$235K |
|
644
SiriusXM
SIRI
$10.1B
| $512K | ﹤0.01% |
12,902
-19,317
| -60% | -$925K |
|
|
CUTR
645
DELISTED
Cutera, Inc.
CUTR
| $511K | ﹤0.01% |
21,617
+832
| +4% | +$26.6K |
|
646
Marriott Vacations Worldwide
VAC
$4.25B
| $510K | ﹤0.01% |
+3,781
| New | +$561K |
|
647
Werner Enterprises
WERN
$2.25B
| $509K | ﹤0.01% |
11,190
-98
| -0.9% | -$4.45K |
|
648
NVR
NVR
$17B
| $501K | ﹤0.01% |
90
-92
| -51% | -$475K |
|
649
Pinterest
PINS
$13.4B
| $501K | ﹤0.01% |
18,379
-353,599
| -95% | -$9.16M |
|
|
CTLT
650
DELISTED
CATALENT, INC.
CTLT
| $498K | ﹤0.01% |
7,579
-22,307
| -75% | -$1.38M |
|
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Ray Dalio's Q1 2023 Portfolio in Review
As of Q1 2023, Ray Dalio held 938 positions worth $16.4B, down 11% from $18.3B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Ray Dalio withdrew a net $2.44B in Q1 2023, closing 228 positions and reducing 360 holdings. Its most notable exit was Bank of America, an estimated $106M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Home Depot worth $43.5M.
- Ray Dalio's largest Q1 2023 buy was Home Depot: 147,495 shares worth $43.5M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q1 2023, an estimated $162M increase.
- Ray Dalio's biggest Q1 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $218M.
- Ray Dalio fully exited Bank of America in Q1 2023, selling an estimated $106M.
- Ray Dalio's ten largest holdings make up 35% of its $16.4B portfolio in Q1 2023.
- Ray Dalio opened 118 new positions and closed 228 in Q1 2023.
- Ray Dalio's portfolio value fell 11% quarter-over-quarter to $16.4B.
Based on Bridgewater Associates's 13F filing for Q1 2023, filed 12 May 2023.