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 |
Walmart Inc
WMT
|
+$228M |
| 2 |
Procter & Gamble
PG
|
+$208M |
| 3 |
Johnson & Johnson
JNJ
|
+$184M |
| 4 |
Coca-Cola
KO
|
+$140M |
| 5 |
PepsiCo
PEP
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$485M |
| 2 |
Mondelez International
MDLZ
|
+$107M |
| 3 |
General Mills
GIS
|
+$40.7M |
| 4 |
Archer Daniels Midland
ADM
|
+$40.5M |
| 5 |
WBA
Walgreens Boots Alliance
WBA
|
+$40.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 28.39% |
| 2 | Healthcare | 17.39% |
| 3 | Consumer Discretionary | 15% |
| 4 | Financials | 5.26% |
| 5 | Technology | 4.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Vanguard FTSE Developed Markets ETF
VEA
$236B
| $57.4M | 0.37% |
1,114,300
-32,101
| -3% | -$1.66M |
|
52
iShares MSCI EAFE ETF
EFA
$80.2B
| $55.4M | 0.36% |
702,362
-20,227
| -3% | -$1.61M |
|
53
Morgan Stanley
MS
$340B
| $54.4M | 0.35% |
593,359
+60,812
| +11% | +$5.21M |
|
54
iShares Core MSCI EAFE ETF
IEFA
$196B
| $51.2M | 0.33% |
683,405
-19,717
| -3% | -$1.49M |
|
55
Align Technology
ALGN
$12.3B
| $50.3M | 0.32% |
82,266
+29,105
| +55% | +$17.2M |
|
56
Citigroup
C
$226B
| $49.6M | 0.32% |
701,283
+89,567
| +15% | +$6.63M |
|
57
Kroger
KR
$34.8B
| $49M | 0.31% |
1,278,780
+724,566
| +131% | +$27.3M |
|
58
Tyson Foods
TSN
$20.4B
| $48.9M | 0.31% |
662,523
+208,845
| +46% | +$16.2M |
|
59
Lowe's Companies
LOW
$125B
| $47.8M | 0.31% |
246,268
-44,869
| -15% | -$8.78M |
|
60
KE Holdings
BEKE
$18.8B
| $47.1M | 0.3% |
987,857
+34,489
| +4% | +$1.76M |
|
61
Baxter International
BAX
$14.2B
| $47M | 0.3% |
583,535
+233,140
| +67% | +$19.6M |
|
62
Trane Technologies
TT
$106B
| $46.9M | 0.3% |
254,880
+19,827
| +8% | +$3.53M |
|
63
Johnson Controls International
JCI
$92.2B
| $46.7M | 0.3% |
680,511
+46,819
| +7% | +$3.02M |
|
64
Hormel Foods
HRL
$13.8B
| $46.6M | 0.3% |
976,243
+354,561
| +57% | +$16.9M |
|
65
Teladoc Health
TDOC
$1.3B
| $46.3M | 0.3% |
278,558
+268,383
| +2,638% | +$43.5M |
|
|
SCHW
66
Charles Schwab
SCHW
$187B
| $45.3M | 0.29% |
621,474
+240,105
| +63% | +$17M |
|
67
DexCom
DXCM
$32B
| $45M | 0.29% |
421,648
+275,520
| +189% | +$26.5M |
|
68
Blackrock
BLK
$176B
| $45M | 0.29% |
51,427
+4,274
| +9% | +$3.61M |
|
69
Home Depot
HD
$355B
| $44.8M | 0.29% |
140,557
+3,580
| +3% | +$1.14M |
|
70
Idexx Laboratories
IDXX
$46.2B
| $44.6M | 0.29% |
70,684
+28,974
| +69% | +$16M |
|
71
Goldman Sachs
GS
$303B
| $43.4M | 0.28% |
114,302
+5,667
| +5% | +$2.03M |
|
|
K
72
DELISTED
Kellanova
K
| $43.2M | 0.28% |
714,818
+215,729
| +43% | +$13.1M |
|
|
CERN
73
DELISTED
Cerner Corp
CERN
| $42.8M | 0.27% |
547,994
+192,781
| +54% | +$14.8M |
|
74
lululemon athletica
LULU
$14.6B
| $42.8M | 0.27% |
117,161
-2,305
| -2% | -$759K |
|
75
PPG Industries
PPG
$26.6B
| $42.6M | 0.27% |
250,688
+18,097
| +8% | +$3.1M |
|
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Ray Dalio's Q2 2021 Portfolio in Review
As of Q2 2021, Ray Dalio held 784 positions worth $15.6B, up 37% from $11.3B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Ray Dalio deployed $3.72B of net new capital in Q2 2021, opening 329 new positions and adding to 255 existing holdings. Its largest new stake was Linde: 103,503 shares worth $29.9M.
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.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $485M trimmed.
- Ray Dalio's largest Q2 2021 buy was Linde: 103,503 shares worth $29.9M.
- Ray Dalio added most to Walmart Inc in Q2 2021, an estimated $228M increase.
- Ray Dalio's biggest Q2 2021 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $485M.
- Ray Dalio fully exited Mondelez International in Q2 2021, selling an estimated $107M.
- Ray Dalio's ten largest holdings make up 33% of its $15.6B portfolio in Q2 2021.
- Ray Dalio opened 329 new positions and closed 80 in Q2 2021.
- Ray Dalio's portfolio value rose 37% quarter-over-quarter to $15.6B.
Based on Bridgewater Associates's 13F filing for Q2 2021, filed 13 Aug 2021.