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 |
Gen Digital
GEN
|
+$26M |
| 2 |
Eastman Chemical
EMN
|
+$24.8M |
| 3 |
The Mosaic Company
MOS
|
+$24.7M |
| 4 |
Kohl's
KSS
|
+$24.3M |
| 5 |
ESV
Ensco Rowan plc
ESV
|
+$23.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.65B |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$906M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$46.7M |
| 4 |
Apple
AAPL
|
+$30.1M |
| 5 |
Chipotle Mexican Grill
CMG
|
+$17.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.22% |
| 2 | Materials | 3.47% |
| 3 | Consumer Discretionary | 3.19% |
| 4 | Energy | 2.92% |
| 5 | Communication Services | 2.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Eaton
ETN
$174B
| $7.42M | 0.1% |
144,731
+141,051
| +3,833% | +$8.33M |
|
102
Imperial Oil
IMO
$60.4B
| $7.19M | 0.1% |
227,900
-251,300
| -52% | -$8.71M |
|
103
DuPont de Nemours
DD
$19.2B
| $7.13M | 0.1% |
+66,378
| New | +$7.69M |
|
104
Cardinal Health
CAH
$55.4B
| $6.97M | 0.09% |
90,732
-18,568
| -17% | -$1.55M |
|
105
Western Digital
WDC
$150B
| $6.94M | 0.09% |
115,549
+49,877
| +76% | +$3M |
|
106
Bread Financial
BFH
$4.38B
| $6.93M | 0.09% |
+33,537
| New | +$7.25M |
|
107
Rockwell Automation
ROK
$49B
| $6.89M | 0.09% |
67,909
+26,500
| +64% | +$3M |
|
|
GOLD
108
DELISTED
Randgold Resources Ltd
GOLD
| $6.78M | 0.09% |
115,460
+16,811
| +17% | +$1.01M |
|
109
Duke Energy
DUK
$97.3B
| $6.72M | 0.09% |
93,376
-90,800
| -49% | -$6.57M |
|
110
Agnico Eagle Mines
AEM
$90.5B
| $6.67M | 0.09% |
263,591
-29,000
| -10% | -$706K |
|
111
Southern Copper
SCCO
$166B
| $6.64M | 0.09% |
267,948
+46,075
| +21% | +$1.17M |
|
|
SNDK
112
DELISTED
SANDISK CORP
SNDK
| $6.58M | 0.09% |
121,200
+30,100
| +33% | +$1.66M |
|
113
Wheaton Precious Metals
WPM
$60.9B
| $6.5M | 0.09% |
541,592
+64,120
| +13% | +$837K |
|
114
Fluor
FLR
$7.96B
| $6.43M | 0.09% |
151,902
+71,748
| +90% | +$3.37M |
|
115
Analog Devices
ADI
$190B
| $6.42M | 0.09% |
+113,792
| New | +$6.62M |
|
116
F5
FFIV
$22.7B
| $6.35M | 0.09% |
54,808
+36,900
| +206% | +$4.52M |
|
117
Yum! Brands
YUM
$41.1B
| $6.34M | 0.08% |
+110,369
| New | +$6.68M |
|
118
Fossil Group
FOSL
$318M
| $6.1M | 0.08% |
109,088
-74,352
| -41% | -$4.71M |
|
119
Toll Brothers
TOL
$14.5B
| $6.08M | 0.08% |
177,645
-42,200
| -19% | -$1.6M |
|
120
Labcorp
LH
$25.9B
| $6.08M | 0.08% |
65,197
+18,647
| +40% | +$1.93M |
|
|
LVLT
121
DELISTED
Level 3 Communications Inc
LVLT
| $6.05M | 0.08% |
138,400
-63,900
| -32% | -$3.08M |
|
122
Vale
VALE
$62.6B
| $5.8M | 0.08% |
1,380,300
+220,700
| +19% | +$1.13M |
|
123
Canadian Natural Resources
CNQ
$94.9B
| $5.68M | 0.08% |
606,705
-734,540
| -55% | -$8.08M |
|
124
NRG Energy
NRG
$24.8B
| $5.67M | 0.08% |
+381,883
| New | +$7.59M |
|
125
Prudential Financial
PRU
$41.8B
| $5.66M | 0.08% |
74,317
+11,700
| +19% | +$982K |
|
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Ray Dalio's Q3 2015 Portfolio in Review
As of Q3 2015, Ray Dalio held 516 positions worth $7.47B, down 31% from $10.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Ray Dalio withdrew a net $1.81B in Q3 2015, closing 86 positions and reducing 67 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 4.2% of assets, up from 2.2% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Wynn Resorts worth $12.7M.
- Ray Dalio's largest Q3 2015 buy was Wynn Resorts: 239,500 shares worth $12.7M.
- Ray Dalio added most to Gen Digital in Q3 2015, an estimated $26M increase.
- Ray Dalio's biggest Q3 2015 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $1.65B.
- Ray Dalio fully exited Chipotle Mexican Grill in Q3 2015, selling an estimated $17.4M.
- Ray Dalio's ten largest holdings make up 76% of its $7.47B portfolio in Q3 2015.
- Ray Dalio opened 210 new positions and closed 86 in Q3 2015.
- Ray Dalio's portfolio value fell 31% quarter-over-quarter to $7.47B.
Based on Bridgewater Associates's 13F filing for Q3 2015, filed 12 Nov 2015.