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 S&P 500 ETF
IVV
|
+$118M |
| 2 |
JPMorgan Chase
JPM
|
+$87.7M |
| 3 |
Bank of America
BAC
|
+$66.7M |
| 4 |
Citigroup
C
|
+$58.3M |
| 5 |
Wells Fargo
WFC
|
+$33.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$227M |
| 2 |
Johnson & Johnson
JNJ
|
+$198M |
| 3 |
Coca-Cola
KO
|
+$184M |
| 4 |
PepsiCo
PEP
|
+$179M |
| 5 |
McDonald's
MCD
|
+$141M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.91% |
| 2 | Healthcare | 19.75% |
| 3 | Financials | 10.48% |
| 4 | Consumer Discretionary | 9.62% |
| 5 | Communication Services | 3.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
701
AngioDynamics
ANGO
$649M
| $619K | ﹤0.01% |
44,925
-15,190
| -25% | -$211K |
|
702
Macerich
MAC
$6.92B
| $612K | ﹤0.01% |
54,380
+12,200
| +29% | +$138K |
|
|
ACCD
703
DELISTED
Accolade Inc
ACCD
| $598K | ﹤0.01% |
76,825
-22,953
| -23% | -$219K |
|
704
Jones Lang LaSalle
JLL
$16.7B
| $595K | ﹤0.01% |
+3,733
| New | +$595K |
|
705
SS&C Technologies
SSNC
$18.6B
| $593K | ﹤0.01% |
+11,386
| New | +$577K |
|
706
Aptiv
APTV
$10.3B
| $567K | ﹤0.01% |
+6,085
| New | +$578K |
|
707
Asbury Automotive
ABG
$3.85B
| $563K | ﹤0.01% |
3,139
-6,172
| -66% | -$1.03M |
|
|
BLD
708
DELISTED
TopBuild
BLD
| $560K | ﹤0.01% |
+3,581
| New | +$570K |
|
709
Autoliv
ALV
$9B
| $554K | ﹤0.01% |
7,235
-142
| -2% | -$11.4K |
|
710
TriNet
TNET
$3.14B
| $544K | ﹤0.01% |
+8,030
| New | +$554K |
|
711
Service Corp International
SCI
$11.6B
| $543K | ﹤0.01% |
7,847
-21,629
| -73% | -$1.44M |
|
712
Equity Lifestyle Properties
ELS
$12.6B
| $540K | ﹤0.01% |
+8,364
| New | +$530K |
|
|
AD
713
Array Digital Infrastructure
AD
$3.05B
| $540K | ﹤0.01% |
25,883
+8,877
| +52% | +$212K |
|
714
Jazz Pharmaceuticals
JAZZ
$16.7B
| $537K | ﹤0.01% |
3,373
-24,850
| -88% | -$3.64M |
|
715
Penske Automotive Group
PAG
$14.2B
| $534K | ﹤0.01% |
4,645
-4,180
| -47% | -$477K |
|
716
Bruker
BRKR
$8.14B
| $533K | ﹤0.01% |
7,800
+1,906
| +32% | +$121K |
|
717
Bausch Health
BHC
$2.34B
| $529K | ﹤0.01% |
84,365
+6,442
| +8% | +$45K |
|
718
Five Below
FIVE
$13.5B
| $525K | ﹤0.01% |
2,970
+694
| +30% | +$109K |
|
719
Vail Resorts
MTN
$5.3B
| $518K | ﹤0.01% |
2,172
+570
| +36% | +$134K |
|
|
MPT
720
Medical Properties Trust
MPT
$2.81B
| $512K | ﹤0.01% |
+45,956
| New | +$534K |
|
721
CNA Financial
CNA
$14.1B
| $510K | ﹤0.01% |
+12,060
| New | +$494K |
|
722
Twilio
TWLO
$36.6B
| $508K | ﹤0.01% |
10,378
+5,981
| +136% | +$340K |
|
723
Morningstar
MORN
$7.53B
| $491K | ﹤0.01% |
2,269
+513
| +29% | +$117K |
|
724
Cirrus Logic
CRUS
$6.26B
| $491K | ﹤0.01% |
+6,597
| New | +$475K |
|
725
Nike
NKE
$61.9B
| $490K | ﹤0.01% |
4,185
-15,142
| -78% | -$1.52M |
|
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Ray Dalio's Q4 2022 Portfolio in Review
As of Q4 2022, Ray Dalio held 953 positions worth $18.3B, down 7.3% from $19.8B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Ray Dalio withdrew a net $3.25B in Q4 2022, closing 133 positions and reducing 457 holdings. Its most notable exit was Advanced Micro Devices, an estimated $45.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, down from 30% a quarter earlier, followed by Healthcare and Financials.
Against the trend, Ray Dalio opened a new position in JPMorgan Chase worth $92.8M.
- Ray Dalio's largest Q4 2022 buy was JPMorgan Chase: 692,356 shares worth $92.8M.
- Ray Dalio added most to iShares Core S&P 500 ETF in Q4 2022, an estimated $118M increase.
- Ray Dalio's biggest Q4 2022 reduction was Procter & Gamble, cutting an estimated $227M.
- Ray Dalio fully exited Advanced Micro Devices in Q4 2022, selling an estimated $45.8M.
- Ray Dalio's ten largest holdings make up 32% of its $18.3B portfolio in Q4 2022.
- Ray Dalio opened 87 new positions and closed 133 in Q4 2022.
- Ray Dalio's portfolio value fell 7.3% quarter-over-quarter to $18.3B.
Based on Bridgewater Associates's 13F filing for Q4 2022, filed 13 Feb 2023.