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 | |
|---|---|---|---|---|---|---|
|
CRON
726
Cronos Group
CRON
$1.14B
| $113K | ﹤0.01% |
28,732
-33,195
| -54% | -$166K |
|
|
NGD
727
DELISTED
New Gold Inc
NGD
| $95K | ﹤0.01% |
63,563
-47,003
| -43% | -$67.7K |
|
728
NovaGold Resources
NG
$3.33B
| $88K | ﹤0.01% |
+12,816
| New | +$93.5K |
|
|
SILV
729
DELISTED
SilverCrest Metals Inc. Common Shares
SILV
| $85K | ﹤0.01% |
10,730
-1,893
| -15% | -$15.4K |
|
730
Denison Mines
DNN
$2.91B
| $60K | ﹤0.01% |
43,840
+11,972
| +38% | +$19.6K |
|
|
OGI
731
Organigram Holdings
OGI
$139M
| $36K | ﹤0.01% |
+5,189
| New | +$44.1K |
|
732
ADT
ADT
$5.58B
| – | – |
-32,938
| Closed | -$266K |
|
733
Akamai
AKAM
$16.1B
| – | – |
-10,413
| Closed | -$1.09M |
|
734
Alnylam Pharmaceuticals
ALNY
$29.3B
| – | – |
-2,234
| Closed | -$422K |
|
735
Amazon
AMZN
$2.96T
| – | – |
-32,380
| Closed | -$5.32M |
|
736
Angi Inc
ANGI
$196M
| – | – |
-1,154
| Closed | -$142K |
|
737
Aramark
ARMK
$14.7B
| – | – |
-194,791
| Closed | -$4.62M |
|
738
Aurinia Pharmaceuticals
AUPH
$2.04B
| – | – |
-12,802
| Closed | -$283K |
|
739
Avista
AVA
$3.24B
| – | – |
-12,767
| Closed | -$499K |
|
740
Avantor
AVTR
$9.19B
| – | – |
-7,550
| Closed | -$309K |
|
741
American Express
AXP
$230B
| – | – |
-14,150
| Closed | -$2.37M |
|
742
Booz Allen Hamilton
BAH
$9.15B
| – | – |
-3,000
| Closed | -$238K |
|
743
BlackBerry
BB
$5.26B
| – | – |
-121,732
| Closed | -$1.19M |
|
744
BCE
BCE
$21.2B
| – | – |
-26,790
| Closed | -$1.34M |
|
745
Burlington
BURL
$23.2B
| – | – |
-1,166
| Closed | -$331K |
|
746
Cable One
CABO
$212M
| – | – |
-134
| Closed | -$243K |
|
747
CAE Inc. Common Shares
CAE
$8.74B
| – | – |
-12,523
| Closed | -$374K |
|
748
CBRE Group
CBRE
$42.9B
| – | – |
-4,178
| Closed | -$407K |
|
749
Crown Holdings
CCK
$13.1B
| – | – |
-2,322
| Closed | -$234K |
|
750
Charter Communications
CHTR
$18.2B
| – | – |
-848
| Closed | -$617K |
|
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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.