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
|
+$89.7M |
| 2 |
Cummins
CMI
|
+$35.2M |
| 3 |
Royal Bank of Canada
RY
|
+$32.9M |
| 4 |
Toll Brothers
TOL
|
+$32.7M |
| 5 |
Toronto Dominion Bank
TD
|
+$31.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$188M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$147M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76M |
| 4 |
NFX
Newfield Exploration
NFX
|
+$32.1M |
| 5 |
Procter & Gamble
PG
|
+$30.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 3.42% |
| 2 | Healthcare | 2.95% |
| 3 | Consumer Discretionary | 2.83% |
| 4 | Energy | 2.39% |
| 5 | Industrials | 2.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
CGI
GIB
$15.5B
| $7.21M | 0.07% |
113,786
+75,863
| +200% | +$4.56M |
|
102
Urban Outfitters
URBN
$6.59B
| $7.17M | 0.07% |
+160,979
| New | +$6.73M |
|
103
CenterPoint Energy
CNP
$26.8B
| $7.12M | 0.07% |
256,768
+90,653
| +55% | +$2.38M |
|
104
Baidu
BIDU
$37.2B
| $7.01M | 0.07% |
+28,834
| New | +$7.18M |
|
105
Sherwin-Williams
SHW
$89.8B
| $6.94M | 0.07% |
+51,060
| New | +$6.61M |
|
106
Pembina Pipeline
PBA
$27.6B
| $6.93M | 0.07% |
200,262
+150,847
| +305% | +$5.04M |
|
107
Rogers Communications
RCI
$18.6B
| $6.92M | 0.07% |
145,706
+103,612
| +246% | +$4.87M |
|
|
GG
108
DELISTED
Goldcorp Inc
GG
| $6.85M | 0.07% |
499,131
+255,189
| +105% | +$3.54M |
|
109
Target
TGT
$68B
| $6.73M | 0.07% |
88,372
+29,327
| +50% | +$2.16M |
|
110
Teck Resources
TECK
$32.6B
| $6.7M | 0.07% |
263,189
+168,810
| +179% | +$4.52M |
|
111
TJX Companies
TJX
$178B
| $6.67M | 0.07% |
140,046
+31,758
| +29% | +$1.39M |
|
|
B
112
Barrick Mining
B
$73.2B
| $6.66M | 0.07% |
507,501
+349,625
| +221% | +$4.58M |
|
113
Biogen
BIIB
$30.7B
| $6.62M | 0.07% |
22,819
-54,378
| -70% | -$15.3M |
|
|
PARA
114
DELISTED
Paramount Global Class B
PARA
| $6.62M | 0.07% |
117,804
-68,091
| -37% | -$3.56M |
|
115
Booking.com
BKNG
$161B
| $6.61M | 0.07% |
+81,475
| New | +$6.86M |
|
116
Capri Holdings
CPRI
$1.74B
| $6.45M | 0.06% |
96,872
-62,675
| -39% | -$4.1M |
|
117
Agnico Eagle Mines
AEM
$90.5B
| $6.4M | 0.06% |
139,751
+69,808
| +100% | +$3.07M |
|
118
Mastercard
MA
$493B
| $6.2M | 0.06% |
+31,566
| New | +$5.93M |
|
119
Ralph Lauren
RL
$23.5B
| $6.19M | 0.06% |
49,214
-6,242
| -11% | -$758K |
|
120
ExxonMobil
XOM
$634B
| $6.07M | 0.06% |
73,409
-50,159
| -41% | -$4M |
|
121
Restaurant Brands International
QSR
$25.8B
| $6.04M | 0.06% |
100,224
+70,780
| +240% | +$4.05M |
|
122
Carnival Corporation Ltd
CCL
$39.7B
| $6M | 0.06% |
104,664
-20,377
| -16% | -$1.29M |
|
123
Western Union
WU
$2.21B
| $5.99M | 0.06% |
294,735
-91,672
| -24% | -$1.83M |
|
124
Wheaton Precious Metals
WPM
$60.9B
| $5.94M | 0.06% |
269,442
+132,631
| +97% | +$2.85M |
|
125
EOG Resources
EOG
$70.7B
| $5.94M | 0.06% |
47,736
+24,502
| +105% | +$2.85M |
|
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Ray Dalio's Q2 2018 Portfolio in Review
As of Q2 2018, Ray Dalio held 552 positions worth $10B, down 4.6% from $10.5B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Ray Dalio's Q2 2018 filing shows 92 new, 126 increased, 226 reduced and 92 closed positions. Its largest new stake was Cummins: 235,261 shares worth $31.3M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $188M.
By sector, the portfolio is most concentrated in Financials at 3.4% of assets, up from 2% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Ray Dalio's largest Q2 2018 buy was Cummins: 235,261 shares worth $31.3M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q2 2018, an estimated $89.7M increase.
- Ray Dalio's biggest Q2 2018 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $188M.
- Ray Dalio fully exited Procter & Gamble in Q2 2018, selling an estimated $30.9M.
- Ray Dalio's ten largest holdings make up 70% of its $10B portfolio in Q2 2018.
- Ray Dalio opened 92 new positions and closed 92 in Q2 2018.
- Ray Dalio's portfolio value fell 4.6% quarter-over-quarter to $10B.
Based on Bridgewater Associates's 13F filing for Q2 2018, filed 13 Aug 2018.