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 |
Eli Lilly
LLY
|
+$149M |
| 2 |
NVIDIA
NVDA
|
+$102M |
| 3 |
iShares MSCI Brazil ETF
EWZ
|
+$89.1M |
| 4 |
Comcast
CMCSA
|
+$71.1M |
| 5 |
Progressive
PGR
|
+$69.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Costco
COST
|
+$83.3M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$76.9M |
| 3 |
Coca-Cola
KO
|
+$56.4M |
| 4 |
Broadcom
AVGO
|
+$49.5M |
| 5 |
Lam Research
LRCX
|
+$44.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 23.82% |
| 2 | Healthcare | 20.59% |
| 3 | Consumer Discretionary | 12.23% |
| 4 | Financials | 6.67% |
| 5 | Communication Services | 5.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
626
CNX Resources
CNX
$5.2B
| $1.08M | 0.01% |
54,222
-113,730
| -68% | -$2.43M |
|
627
Sherwin-Williams
SHW
$89.8B
| $1.08M | 0.01% |
3,476
+390
| +13% | +$105K |
|
628
EastGroup Properties
EGP
$10.9B
| $1.08M | 0.01% |
5,895
-2,130
| -27% | -$364K |
|
|
CCRN
629
DELISTED
Cross Country Healthcare
CCRN
| $1.08M | 0.01% |
47,593
-621
| -1% | -$13.5K |
|
630
Timken Company
TKR
$9.03B
| $1.05M | 0.01% |
13,118
-24,310
| -65% | -$1.79M |
|
631
Alcoa
AA
$13.2B
| $1.05M | 0.01% |
30,906
-891
| -3% | -$24.1K |
|
632
New York Times
NYT
$10.2B
| $1.02M | 0.01% |
+20,831
| New | +$919K |
|
633
US Foods
USFD
$24B
| $1.02M | 0.01% |
+22,463
| New | +$929K |
|
634
Neogen
NEOG
$2.5B
| $1M | 0.01% |
49,826
-1,986
| -4% | -$33.6K |
|
635
Celestica
CLS
$36.5B
| $985K | 0.01% |
+33,593
| New | +$894K |
|
636
LKQ Corp
LKQ
$6.29B
| $979K | 0.01% |
20,482
+3,148
| +18% | +$147K |
|
637
IQVIA
IQV
$39.3B
| $959K | 0.01% |
4,144
-138
| -3% | -$28.3K |
|
638
Sunrun
RUN
$2.46B
| $957K | 0.01% |
48,744
-3,696
| -7% | -$46.9K |
|
|
B
639
Barrick Mining
B
$73.2B
| $956K | 0.01% |
52,672
-38,453
| -42% | -$631K |
|
640
Guardant Health
GH
$22.6B
| $950K | 0.01% |
35,117
-1,907
| -5% | -$50K |
|
641
Stantec
STN
$8.39B
| $946K | 0.01% |
11,727
+19
| +0.2% | +$1.32K |
|
|
ACCD
642
DELISTED
Accolade Inc
ACCD
| $942K | 0.01% |
78,463
-10,150
| -11% | -$86.9K |
|
643
DTE Energy
DTE
$29.1B
| $940K | 0.01% |
+8,522
| New | +$873K |
|
644
Trane Technologies
TT
$106B
| $937K | 0.01% |
+3,842
| New | +$841K |
|
645
International Flavors & Fragrances
IFF
$21.9B
| $931K | 0.01% |
11,494
-5
| -0% | -$362 |
|
646
Waters Corp
WAT
$39.9B
| $899K | 0.01% |
2,732
-8,374
| -75% | -$2.31M |
|
647
Stem
STEM
$52.7M
| $891K | 0.01% |
+11,478
| New | +$791K |
|
648
SI-BONE Inc
SIBN
$834M
| $886K | 0.01% |
42,232
-3,739
| -8% | -$69.2K |
|
649
Concentrix
CNXC
$1.57B
| $886K | 0.01% |
+9,024
| New | +$786K |
|
650
Fluence Energy
FLNC
$2.44B
| $884K | ﹤0.01% |
+37,047
| New | +$780K |
|
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Ray Dalio's Q4 2023 Portfolio in Review
As of Q4 2023, Ray Dalio held 827 positions worth $17.9B, up 8% from $16.5B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Ray Dalio's Q4 2023 filing shows 87 new, 260 increased, 385 reduced and 85 closed positions. Its largest new stake was iShares MSCI Brazil ETF: 2,750,734 shares worth $96.2M. The largest sale was Costco, an estimated $83.3M.
By sector, the portfolio is most concentrated in Consumer Staples at 24% of assets, down from 27% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Ray Dalio's largest Q4 2023 buy was iShares MSCI Brazil ETF: 2,750,734 shares worth $96.2M.
- Ray Dalio added most to Eli Lilly in Q4 2023, an estimated $149M increase.
- Ray Dalio's biggest Q4 2023 reduction was Costco, cutting an estimated $83.3M.
- Ray Dalio fully exited Netflix in Q4 2023, selling an estimated $35.9M.
- Ray Dalio's ten largest holdings make up 31% of its $17.9B portfolio in Q4 2023.
- Ray Dalio opened 87 new positions and closed 85 in Q4 2023.
- Ray Dalio's portfolio value rose 8% quarter-over-quarter to $17.9B.
Based on Bridgewater Associates's 13F filing for Q4 2023, filed 14 Feb 2024.