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 | |
|---|---|---|---|---|---|---|
801
Compass Minerals
CMP
$1.15B
| $215K | ﹤0.01% |
5,245
-3,815
| -42% | -$158K |
|
802
Douglas Emmett
DEI
$1.96B
| $214K | ﹤0.01% |
+13,667
| New | +$227K |
|
|
BDN
803
Brandywine Realty Trust
BDN
$554M
| $214K | ﹤0.01% |
+34,763
| New | +$224K |
|
|
EXAS
804
DELISTED
Exact Sciences
EXAS
| $212K | ﹤0.01% |
+4,284
| New | +$175K |
|
805
American Eagle Outfitters
AEO
$3.01B
| $202K | ﹤0.01% |
+14,472
| New | +$185K |
|
|
VMW
806
DELISTED
VMware, Inc
VMW
| $200K | ﹤0.01% |
+1,630
| New | +$188K |
|
807
Park Hotels & Resorts
PK
$2.97B
| $197K | ﹤0.01% |
+16,732
| New | +$204K |
|
|
BNR
808
Burning Rock Biotech
BNR
$92.9M
| $192K | ﹤0.01% |
8,529
-143
| -2% | -$3.26K |
|
|
DENN
809
DELISTED
Denny's
DENN
| $184K | ﹤0.01% |
19,998
-24,627
| -55% | -$267K |
|
|
NVTA
810
DELISTED
Invitae Corporation
NVTA
| $181K | ﹤0.01% |
97,318
-265,081
| -73% | -$647K |
|
811
Sally Beauty Holdings
SBH
$1.58B
| $163K | ﹤0.01% |
13,036
-135,623
| -91% | -$1.67M |
|
|
DOYU
812
DouYu International Holdings
DOYU
$142M
| $158K | ﹤0.01% |
11,280
-40
| -0.4% | -$467 |
|
813
Upstart Holdings
UPST
$3.03B
| $133K | ﹤0.01% |
+10,069
| New | +$195K |
|
814
Aurora
AUR
$13.8B
| $104K | ﹤0.01% |
85,602
+66,166
| +340% | +$113K |
|
|
CIM
815
Chimera Investment
CIM
$1B
| $98.8K | ﹤0.01% |
+5,985
| New | +$112K |
|
|
LGF.A
816
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $97.9K | ﹤0.01% |
+17,152
| New | +$121K |
|
817
Codexis
CDXS
$158M
| $87K | ﹤0.01% |
18,666
-70
| -0.4% | -$384 |
|
818
Virgin Galactic
SPCE
$398M
| $71K | ﹤0.01% |
+1,020
| New | +$95.2K |
|
819
Opko Health
OPK
$1.02B
| $67.9K | ﹤0.01% |
54,338
+41,129
| +311% | +$64.8K |
|
820
Angi Inc
ANGI
$196M
| $49.5K | ﹤0.01% |
2,105
| – | – |
|
821
ADT
ADT
$5.58B
| – | – |
-15,223
| Closed | -$114K |
|
822
AGCO
AGCO
$7.2B
| – | – |
-13,224
| Closed | -$1.27M |
|
823
Alnylam Pharmaceuticals
ALNY
$29.3B
| – | – |
-1,283
| Closed | -$257K |
|
824
Applied Materials
AMAT
$428B
| – | – |
-146,625
| Closed | -$12M |
|
825
Advanced Micro Devices
AMD
$789B
| – | – |
-722,710
| Closed | -$45.8M |
|
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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.