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 | |
|---|---|---|---|---|---|---|
751
Chubb
CB
$135B
| – | – |
-42,480
| Closed | -$8.18M |
|
752
CDW
CDW
$17B
| – | – |
-29,116
| Closed | -$5.34M |
|
753
Cerus
CERS
$474M
| – | – |
-192,212
| Closed | -$473K |
|
754
Compass Minerals
CMP
$1.15B
| – | – |
-6,310
| Closed | -$215K |
|
755
CNA Financial
CNA
$14.1B
| – | – |
-5,554
| Closed | -$214K |
|
756
Canadian Natural Resources
CNQ
$94.9B
| – | – |
-18,362
| Closed | -$517K |
|
757
Americold
COLD
$4.27B
| – | – |
-62,827
| Closed | -$2.03M |
|
|
CTRA
758
DELISTED
Coterra Energy
CTRA
| – | – |
-306,972
| Closed | -$7.77M |
|
759
Corteva
CTVA
$51.3B
| – | – |
-331,813
| Closed | -$19M |
|
760
Dropbox
DBX
$8.12B
| – | – |
-120,013
| Closed | -$3.2M |
|
761
Dine Brands
DIN
$452M
| – | – |
-7,873
| Closed | -$457K |
|
762
Devon Energy
DVN
$47.3B
| – | – |
-218,331
| Closed | -$10.6M |
|
763
New Oriental
EDU
$8.98B
| – | – |
-36,368
| Closed | -$1.44M |
|
764
Equity Lifestyle Properties
ELS
$12.6B
| – | – |
-22,150
| Closed | -$1.48M |
|
765
Equinix
EQIX
$103B
| – | – |
-2,551
| Closed | -$2M |
|
766
iShares MSCI Brazil ETF
EWZ
$8.95B
| – | – |
-16,047
| Closed | -$520K |
|
767
FIGS
FIGS
$2.38B
| – | – |
-136,748
| Closed | -$1.13M |
|
768
GDS Holdings
GDS
$6.41B
| – | – |
-21,319
| Closed | -$234K |
|
769
Hasbro
HAS
$13.2B
| – | – |
-6,250
| Closed | -$405K |
|
770
Health Catalyst
HCAT
$128M
| – | – |
-107,217
| Closed | -$1.34M |
|
771
HUTCHMED
HCM
$2.17B
| – | – |
-11,871
| Closed | -$142K |
|
|
HEES
772
DELISTED
H&E Equipment Services
HEES
| – | – |
-8,334
| Closed | -$381K |
|
773
Horace Mann Educators
HMN
$2.11B
| – | – |
-20,924
| Closed | -$621K |
|
774
Honeywell
HON
$78B
| – | – |
-9,235
| Closed | -$1.81M |
|
775
Helmerich & Payne
HP
$3.71B
| – | – |
-17,817
| Closed | -$632K |
|
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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.