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 MSCI Emerging Markets ETF
IEMG
|
+$61.9M |
| 2 |
Coca-Cola
KO
|
+$46.9M |
| 3 |
Broadcom
AVGO
|
+$46.8M |
| 4 |
SLB Ltd
SLB
|
+$40.3M |
| 5 |
Netflix
NFLX
|
+$40.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76.6M |
| 2 |
Johnson & Johnson
JNJ
|
+$75.4M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$49.3M |
| 4 |
Tradeweb Markets
TW
|
+$48M |
| 5 |
Visa
V
|
+$40.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 26.52% |
| 2 | Healthcare | 20.27% |
| 3 | Consumer Discretionary | 12.77% |
| 4 | Technology | 5.33% |
| 5 | Financials | 4.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PDM
726
Piedmont Realty Trust
PDM
$1.19B
| $282K | ﹤0.01% |
50,259
-395
| -0.8% | -$2.71K |
|
727
Halozyme
HALO
$12.2B
| $270K | ﹤0.01% |
7,062
-54,533
| -89% | -$2.23M |
|
|
NOAH
728
Noah Holdings
NOAH
$603M
| $264K | ﹤0.01% |
21,191
-58,265
| -73% | -$798K |
|
729
Morgan Stanley
MS
$340B
| $262K | ﹤0.01% |
+3,203
| New | +$278K |
|
730
Beyond Meat
BYND
$277M
| $249K | ﹤0.01% |
25,887
-58,547
| -69% | -$763K |
|
731
Mettler-Toledo International
MTD
$28.6B
| $242K | ﹤0.01% |
218
+25
| +13% | +$30.6K |
|
732
BJ's Restaurants
BJRI
$1.48B
| $239K | ﹤0.01% |
10,199
-12,847
| -56% | -$395K |
|
733
Fidelity National Financial
FNF
$13.5B
| $235K | ﹤0.01% |
+5,680
| New | +$227K |
|
|
SPWR
734
DELISTED
SunPower Corporation Common Stock
SPWR
| $233K | ﹤0.01% |
37,688
-2,090
| -5% | -$17.2K |
|
735
Franklin Resources
BEN
$17.2B
| $218K | ﹤0.01% |
+8,868
| New | +$240K |
|
736
Ally Financial
ALLY
$13.3B
| $218K | ﹤0.01% |
+8,160
| New | +$228K |
|
737
BILL Holdings
BILL
$4.78B
| $215K | ﹤0.01% |
+1,976
| New | +$225K |
|
|
SGEN
738
DELISTED
Seagen Inc. Common Stock
SGEN
| $210K | ﹤0.01% |
+988
| New | +$197K |
|
739
Murphy Oil
MUR
$4.78B
| $201K | ﹤0.01% |
4,442
-44,786
| -91% | -$1.95M |
|
|
BDN
740
Brandywine Realty Trust
BDN
$554M
| $171K | ﹤0.01% |
37,653
+1,657
| +5% | +$7.89K |
|
741
Apple
AAPL
$4.57T
| – | – |
-2,076
| Closed | -$403K |
|
742
Archer Daniels Midland
ADM
$36.9B
| – | – |
-121,587
| Closed | -$9.19M |
|
743
AngioDynamics
ANGO
$649M
| – | – |
-41,002
| Closed | -$428K |
|
744
Apogee Enterprises
APOG
$908M
| – | – |
-18,431
| Closed | -$875K |
|
745
Atmos Energy
ATO
$28.8B
| – | – |
-4,840
| Closed | -$563K |
|
746
AZZ Inc
AZZ
$4.54B
| – | – |
-11,157
| Closed | -$485K |
|
747
Bunge Global
BG
$20.8B
| – | – |
-78,471
| Closed | -$7.4M |
|
748
BGC Group
BGC
$4.89B
| – | – |
-609,011
| Closed | -$2.7M |
|
|
BNR
749
Burning Rock Biotech
BNR
$92.9M
| – | – |
-1,675
| Closed | -$36.5K |
|
750
Caterpillar
CAT
$387B
| – | – |
-15,761
| Closed | -$3.88M |
|
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Ray Dalio's Q3 2023 Portfolio in Review
As of Q3 2023, Ray Dalio held 826 positions worth $16.5B, up 2.2% from $16.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Ray Dalio deployed $1.1B of net new capital in Q3 2023, opening 130 new positions and adding to 388 existing holdings. Its largest new stake was Broadcom: 540,410 shares worth $44.9M.
By sector, the portfolio is most concentrated in Consumer Staples at 27% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Vanguard FTSE Emerging Markets ETF, an estimated $76.6M trimmed.
- Ray Dalio's largest Q3 2023 buy was Broadcom: 540,410 shares worth $44.9M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2023, an estimated $61.9M increase.
- Ray Dalio's biggest Q3 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $76.6M.
- Ray Dalio fully exited Corteva in Q3 2023, selling an estimated $19M.
- Ray Dalio's ten largest holdings make up 34% of its $16.5B portfolio in Q3 2023.
- Ray Dalio opened 130 new positions and closed 86 in Q3 2023.
- Ray Dalio's portfolio value rose 2.2% quarter-over-quarter to $16.5B.
Based on Bridgewater Associates's 13F filing for Q3 2023, filed 13 Nov 2023.