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 |
Visa
V
|
+$148M |
| 2 |
Mondelez International
MDLZ
|
+$144M |
| 3 |
Johnson & Johnson
JNJ
|
+$64.3M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$53.4M |
| 5 |
Microsoft
MSFT
|
+$51.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Medtronic
MDT
|
+$225M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$151M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$91.6M |
| 4 |
Walmart Inc
WMT
|
+$87.7M |
| 5 |
JPMorgan Chase
JPM
|
+$79.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 29.71% |
| 2 | Healthcare | 20.65% |
| 3 | Consumer Discretionary | 10.85% |
| 4 | Financials | 7.63% |
| 5 | Technology | 4.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
876
Aptiv
APTV
$10.3B
| – | – |
-190,066
| Closed | -$16.9M |
|
877
Ares Management
ARES
$30.9B
| – | – |
-13,790
| Closed | -$784K |
|
878
Ashland
ASH
$3.5B
| – | – |
-35,382
| Closed | -$3.65M |
|
879
American Express
AXP
$230B
| – | – |
-29,368
| Closed | -$4.07M |
|
880
Axalta
AXTA
$8.17B
| – | – |
-157,165
| Closed | -$3.48M |
|
881
Boeing
BA
$185B
| – | – |
-162,930
| Closed | -$22.3M |
|
882
Booz Allen Hamilton
BAH
$9.15B
| – | – |
-8,894
| Closed | -$804K |
|
883
Bath & Body Works
BBWI
$4.1B
| – | – |
-235,773
| Closed | -$6.35M |
|
884
Bread Financial
BFH
$4.38B
| – | – |
-8,885
| Closed | -$329K |
|
885
BJ's Restaurants
BJRI
$1.48B
| – | – |
-64,694
| Closed | -$1.4M |
|
886
Blackrock
BLK
$176B
| – | – |
-9,903
| Closed | -$6.03M |
|
887
Brookfield
BN
$108B
| – | – |
-29,783
| Closed | -$712K |
|
888
BioNTech
BNTX
$23.5B
| – | – |
-12,156
| Closed | -$1.81M |
|
889
Broadridge
BR
$19B
| – | – |
-36,170
| Closed | -$5.16M |
|
890
Burlington
BURL
$23.2B
| – | – |
-4,725
| Closed | -$644K |
|
891
BorgWarner
BWA
$13.9B
| – | – |
-243,441
| Closed | -$7.15M |
|
892
Citigroup
C
$226B
| – | – |
-524,393
| Closed | -$24.1M |
|
893
Cable One
CABO
$212M
| – | – |
-415
| Closed | -$535K |
|
894
Carrier Global
CARR
$52.8B
| – | – |
-424,427
| Closed | -$15.1M |
|
895
CBRE Group
CBRE
$42.9B
| – | – |
-22,679
| Closed | -$1.67M |
|
896
Charter Communications
CHTR
$18.2B
| – | – |
-602
| Closed | -$282K |
|
897
Cleveland-Cliffs
CLF
$6.99B
| – | – |
-745,864
| Closed | -$11.5M |
|
898
Coinbase
COIN
$40.5B
| – | – |
-17,744
| Closed | -$834K |
|
899
Capri Holdings
CPRI
$1.74B
| – | – |
-256,407
| Closed | -$10.5M |
|
900
Carlisle Companies
CSL
$15.4B
| – | – |
-33,230
| Closed | -$7.93M |
|
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Ray Dalio's Q3 2022 Portfolio in Review
As of Q3 2022, Ray Dalio held 1,045 positions worth $19.8B, down 16% from $23.6B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Ray Dalio withdrew a net $2.53B in Q3 2022, closing 179 positions and reducing 498 holdings. Its most notable exit was Medtronic, an estimated $225M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 30% of assets, up from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Accenture worth $29.3M.
- Ray Dalio's largest Q3 2022 buy was Accenture: 113,811 shares worth $29.3M.
- Ray Dalio added most to Visa in Q3 2022, an estimated $148M increase.
- Ray Dalio's biggest Q3 2022 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $151M.
- Ray Dalio fully exited Medtronic in Q3 2022, selling an estimated $225M.
- Ray Dalio's ten largest holdings make up 32% of its $19.8B portfolio in Q3 2022.
- Ray Dalio opened 60 new positions and closed 179 in Q3 2022.
- Ray Dalio's portfolio value fell 16% quarter-over-quarter to $19.8B.
Based on Bridgewater Associates's 13F filing for Q3 2022, filed 10 Nov 2022.