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
|
+$949M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$409M |
| 3 |
SPDR Gold Trust
GLD
|
+$403M |
| 4 |
iShares MSCI Emerging Markets ETF
EEM
|
+$392M |
| 5 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$171M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI South Korea ETF
EWY
|
+$92.2M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$27.9M |
| 3 |
CHK
Chesapeake Energy Corporation
CHK
|
+$26.1M |
| 4 |
SWN
Southwestern Energy Company
SWN
|
+$24.4M |
| 5 |
Intel
INTC
|
+$21.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 1.98% |
| 2 | Healthcare | 1.54% |
| 3 | Financials | 1.2% |
| 4 | Technology | 1.1% |
| 5 | Energy | 1.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Canadian Imperial Bank of Commerce
CM
$108B
| $6.22M | 0.04% |
142,438
| – | – |
|
102
Cognizant
CTSH
$26B
| $6.22M | 0.04% |
+85,695
| New | +$6.02M |
|
103
Skyworks Solutions
SWKS
$10.6B
| $6.15M | 0.04% |
60,315
+36,342
| +152% | +$3.77M |
|
|
PARA
104
DELISTED
Paramount Global Class B
PARA
| $6.12M | 0.04% |
105,428
+83,893
| +390% | +$5.3M |
|
105
Caterpillar
CAT
$387B
| $6.02M | 0.04% |
+48,251
| New | +$5.56M |
|
106
Toll Brothers
TOL
$14.5B
| $5.8M | 0.04% |
139,790
+67,409
| +93% | +$2.65M |
|
107
American Tower
AMT
$80.4B
| $5.75M | 0.04% |
+42,067
| New | +$5.86M |
|
108
Equifax
EFX
$21.4B
| $5.75M | 0.04% |
54,250
+52,415
| +2,856% | +$6.93M |
|
109
Sun Life Financial
SLF
$45.4B
| $5.3M | 0.04% |
133,290
| – | – |
|
110
McKesson
MCK
$101B
| $5.28M | 0.04% |
34,346
-14,362
| -29% | -$2.24M |
|
111
VF Corp
VFC
$5.89B
| $5.17M | 0.03% |
+86,379
| New | +$4.98M |
|
112
Canadian Pacific Kansas City
CP
$80.5B
| $5.11M | 0.03% |
152,515
| – | – |
|
113
Franco-Nevada
FNV
$46B
| $4.94M | 0.03% |
63,886
-58,469
| -48% | -$4.49M |
|
114
Campbell Soup
CPB
$6.87B
| $4.92M | 0.03% |
105,111
+27,345
| +35% | +$1.39M |
|
115
NVIDIA
NVDA
$5.42T
| $4.78M | 0.03% |
+1,068,320
| New | +$4.44M |
|
116
Telus
TU
$15.3B
| $4.6M | 0.03% |
256,418
| – | – |
|
|
SCG
117
DELISTED
Scana
SCG
| $4.53M | 0.03% |
+93,475
| New | +$5.73M |
|
118
Cummins
CMI
$88.7B
| $4.52M | 0.03% |
+26,924
| New | +$4.36M |
|
119
Urban Outfitters
URBN
$6.59B
| $4.52M | 0.03% |
188,953
+47,889
| +34% | +$963K |
|
|
GG
120
DELISTED
Goldcorp Inc
GG
| $4.37M | 0.03% |
337,276
-20,872
| -6% | -$274K |
|
121
Agnico Eagle Mines
AEM
$90.5B
| $4.27M | 0.03% |
94,551
-7,441
| -7% | -$348K |
|
122
Magna International
MGA
$18.8B
| $4.24M | 0.03% |
79,682
| – | – |
|
|
B
123
Barrick Mining
B
$73.2B
| $4.15M | 0.03% |
258,611
| – | – |
|
124
Carnival Corporation Ltd
CCL
$39.7B
| $4.14M | 0.03% |
64,186
-43,850
| -41% | -$2.93M |
|
125
Deere & Co
DE
$168B
| $4.02M | 0.03% |
32,041
+2,752
| +9% | +$339K |
|
Similar funds
Ray Dalio's Q3 2017 Portfolio in Review
As of Q3 2017, Ray Dalio held 426 positions worth $14.9B, up 37% from $10.9B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Ray Dalio deployed $3.33B of net new capital in Q3 2017, opening 83 new positions and adding to 81 existing holdings. Its largest new stake was Quest Diagnostics: 208,121 shares worth $19.5M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 2% of assets, down from 2.4% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was iShares MSCI South Korea ETF, an estimated $92.2M trimmed.
- Ray Dalio's largest Q3 2017 buy was Quest Diagnostics: 208,121 shares worth $19.5M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2017, an estimated $949M increase.
- Ray Dalio's biggest Q3 2017 reduction was iShares MSCI South Korea ETF, cutting an estimated $92.2M.
- Ray Dalio fully exited Chesapeake Energy Corporation in Q3 2017, selling an estimated $26.1M.
- Ray Dalio's ten largest holdings make up 82% of its $14.9B portfolio in Q3 2017.
- Ray Dalio opened 83 new positions and closed 140 in Q3 2017.
- Ray Dalio's portfolio value rose 37% quarter-over-quarter to $14.9B.
Based on Bridgewater Associates's 13F filing for Q3 2017, filed 13 Nov 2017.