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
|
+$380M |
| 2 |
iShares MSCI South Korea ETF
EWY
|
+$171M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$146M |
| 4 |
XEC
CIMAREX ENERGY CO
XEC
|
+$84.8M |
| 5 |
Bread Financial
BFH
|
+$78.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Brazil ETF
EWZ
|
+$133M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$92.5M |
| 3 |
iShares MSCI Taiwan ETF
EWT
|
+$37M |
| 4 |
Toll Brothers
TOL
|
+$33.7M |
| 5 |
NFX
Newfield Exploration
NFX
|
+$24.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 5.64% |
| 2 | Consumer Discretionary | 4.56% |
| 3 | Energy | 3.53% |
| 4 | Healthcare | 2.96% |
| 5 | Industrials | 2.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
The Mosaic Company
MOS
$7.33B
| $12.3M | 0.11% |
419,513
+243,883
| +139% | +$8.03M |
|
102
Ralph Lauren
RL
$23.5B
| $12.1M | 0.11% |
117,398
+74,256
| +172% | +$8.76M |
|
103
Nutrien
NTR
$30.7B
| $12.1M | 0.11% |
257,269
-48,524
| -16% | -$2.53M |
|
104
Monster Beverage
MNST
$88.4B
| $12M | 0.11% |
486,008
+367,562
| +310% | +$9.98M |
|
|
PPL
105
PPL Corp
PPL
$26.7B
| $11.9M | 0.11% |
420,277
+365,395
| +666% | +$11.1M |
|
106
Quest Diagnostics
DGX
$26.3B
| $11.8M | 0.11% |
141,726
+108,465
| +326% | +$10.2M |
|
|
RTN
107
DELISTED
Raytheon Company
RTN
| $11.8M | 0.11% |
76,715
+27,983
| +57% | +$5.01M |
|
108
CNX Resources
CNX
$5.2B
| $11.1M | 0.1% |
971,423
+791,481
| +440% | +$10.9M |
|
109
Constellation Brands
STZ
$23.2B
| $10.9M | 0.1% |
+67,740
| New | +$13.5M |
|
110
Manulife Financial
MFC
$73.5B
| $10.7M | 0.1% |
755,746
-157,989
| -17% | -$2.5M |
|
|
ATVI
111
DELISTED
Activision Blizzard
ATVI
| $10.6M | 0.1% |
+227,164
| New | +$13.6M |
|
112
Canadian Pacific Kansas City
CP
$80.5B
| $10.5M | 0.1% |
296,620
-56,795
| -16% | -$2.27M |
|
113
Caterpillar
CAT
$387B
| $10.4M | 0.1% |
81,896
+18,592
| +29% | +$2.42M |
|
114
ConocoPhillips
COP
$141B
| $10.4M | 0.1% |
166,760
+54,704
| +49% | +$3.72M |
|
115
McKesson
MCK
$101B
| $10M | 0.09% |
90,617
+57,901
| +177% | +$7.22M |
|
116
Gilead Sciences
GILD
$165B
| $9.96M | 0.09% |
159,312
+124,662
| +360% | +$8.71M |
|
117
Devon Energy
DVN
$47.3B
| $9.95M | 0.09% |
441,208
+422,073
| +2,206% | +$13M |
|
118
PG&E
PCG
$38.5B
| $9.93M | 0.09% |
+417,895
| New | +$15M |
|
|
119
Toll Brothers
TOL
$14.5B
| $9.02M | 0.08% |
273,940
-1,047,810
| -79% | -$33.7M |
|
120
Morgan Stanley
MS
$340B
| $8.95M | 0.08% |
+225,598
| New | +$9.84M |
|
121
Boston Properties
BXP
$11.1B
| $8.91M | 0.08% |
79,196
+60,099
| +315% | +$7.28M |
|
|
B
122
Barrick Mining
B
$73.2B
| $8.73M | 0.08% |
646,120
-113,247
| -15% | -$1.46M |
|
123
PACCAR
PCAR
$70.1B
| $8.55M | 0.08% |
224,372
+218,364
| +3,635% | +$8.72M |
|
124
Sun Life Financial
SLF
$45.4B
| $8.52M | 0.08% |
256,795
-48,010
| -16% | -$1.74M |
|
125
Telus
TU
$15.3B
| $8.37M | 0.08% |
505,306
-95,014
| -16% | -$1.65M |
|
Similar funds
Ray Dalio's Q4 2018 Portfolio in Review
As of Q4 2018, Ray Dalio held 528 positions worth $10.9B, up 13% from $9.65B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Ray Dalio deployed $2.53B of net new capital in Q4 2018, opening 174 new positions and adding to 210 existing holdings. Its largest new stake was Eastman Chemical: 624,555 shares worth $45.7M.
By sector, the portfolio is most concentrated in Financials at 5.6% of assets, up from 3.4% a quarter earlier, followed by Consumer Discretionary and Energy.
On the sell side, the largest reduction was iShares MSCI Brazil ETF, an estimated $133M trimmed.
- Ray Dalio's largest Q4 2018 buy was Eastman Chemical: 624,555 shares worth $45.7M.
- Ray Dalio added most to iShares Core S&P 500 ETF in Q4 2018, an estimated $380M increase.
- Ray Dalio's biggest Q4 2018 reduction was iShares MSCI Brazil ETF, cutting an estimated $133M.
- Ray Dalio fully exited iShares MSCI Taiwan ETF in Q4 2018, selling an estimated $37M.
- Ray Dalio's ten largest holdings make up 62% of its $10.9B portfolio in Q4 2018.
- Ray Dalio opened 174 new positions and closed 56 in Q4 2018.
- Ray Dalio's portfolio value rose 13% quarter-over-quarter to $10.9B.
Based on Bridgewater Associates's 13F filing for Q4 2018, filed 13 Feb 2019.