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 | |
|---|---|---|---|---|---|---|
|
CGC
701
Canopy Growth
CGC
$410M
| $275K | ﹤0.01% |
3,151
-3,122
| -50% | -$371K |
|
702
Mercury Insurance
MCY
$6.07B
| $268K | ﹤0.01% |
+5,053
| New | +$271K |
|
703
Intel
INTC
$513B
| $264K | ﹤0.01% |
+5,125
| New | +$262K |
|
704
Trade Desk
TTD
$6.49B
| $259K | ﹤0.01% |
2,823
-5,013
| -64% | -$439K |
|
705
Euronet Worldwide
EEFT
$2.7B
| $255K | ﹤0.01% |
+2,141
| New | +$254K |
|
706
Eldorado Gold
EGO
$9.89B
| $255K | ﹤0.01% |
27,122
-12,064
| -31% | -$111K |
|
|
JOBS
707
DELISTED
51job Inc
JOBS
| $252K | ﹤0.01% |
5,155
-7,641
| -60% | -$436K |
|
708
Hawaiian Electric Industries
HE
$2.14B
| $249K | ﹤0.01% |
+6,010
| New | +$244K |
|
709
Imperial Oil
IMO
$60.4B
| $248K | ﹤0.01% |
+6,878
| New | +$236K |
|
710
Rogers Communications
RCI
$18.6B
| $247K | ﹤0.01% |
5,183
-34,043
| -87% | -$1.6M |
|
711
Targa Resources
TRGP
$55.1B
| $242K | ﹤0.01% |
+4,633
| New | +$248K |
|
712
CF Industries
CF
$17.3B
| $241K | ﹤0.01% |
+3,398
| New | +$213K |
|
713
APA Corp
APA
$13.3B
| $235K | ﹤0.01% |
+8,736
| New | +$232K |
|
714
Hudbay
HBM
$12.3B
| $231K | ﹤0.01% |
31,923
+3,645
| +13% | +$25.3K |
|
715
Qualcomm
QCOM
$176B
| $229K | ﹤0.01% |
+1,251
| New | +$200K |
|
716
Royalty Pharma
RPRX
$25.2B
| $229K | ﹤0.01% |
+5,748
| New | +$223K |
|
717
Equinox Gold
EQX
$13.5B
| $221K | ﹤0.01% |
32,676
-17,653
| -35% | -$129K |
|
|
XLNX
718
DELISTED
Xilinx Inc
XLNX
| $221K | ﹤0.01% |
+1,040
| New | +$205K |
|
719
AGNC Investment
AGNC
$12.9B
| $215K | ﹤0.01% |
+14,281
| New | +$226K |
|
720
Neurocrine Biosciences
NBIX
$16.6B
| $215K | ﹤0.01% |
2,527
-670
| -21% | -$61.6K |
|
|
CGAU
721
Centerra Gold
CGAU
$4.15B
| $213K | ﹤0.01% |
27,568
-13,911
| -34% | -$106K |
|
|
PDM
722
Piedmont Realty Trust
PDM
$1.19B
| $208K | ﹤0.01% |
+11,319
| New | +$207K |
|
723
Spire
SR
$4.85B
| $200K | ﹤0.01% |
+3,068
| New | +$194K |
|
|
DENN
724
DELISTED
Denny's
DENN
| $198K | ﹤0.01% |
12,366
-8,884
| -42% | -$136K |
|
725
SiriusXM
SIRI
$10.1B
| $153K | ﹤0.01% |
2,416
-3,483
| -59% | -$218K |
|
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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.