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
|
+$61.9M |
| 2 |
Coca-Cola
KO
|
+$46.9M |
| 3 |
Broadcom
AVGO
|
+$46.8M |
| 4 |
SLB Ltd
SLB
|
+$40.3M |
| 5 |
Netflix
NFLX
|
+$40.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76.6M |
| 2 |
Johnson & Johnson
JNJ
|
+$75.4M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$49.3M |
| 4 |
Tradeweb Markets
TW
|
+$48M |
| 5 |
Visa
V
|
+$40.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 26.52% |
| 2 | Healthcare | 20.27% |
| 3 | Consumer Discretionary | 12.77% |
| 4 | Technology | 5.33% |
| 5 | Financials | 4.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Labcorp
LH
$25.9B
| $28.2M | 0.17% |
140,028
-23,772
| -15% | -$5.01M |
|
102
EQT Corp
EQT
$32.3B
| $27.5M | 0.17% |
676,675
+410,701
| +154% | +$17M |
|
103
J.M. Smucker
SJM
$12.8B
| $27.4M | 0.17% |
223,265
+33,490
| +18% | +$4.76M |
|
104
Steris
STE
$23.1B
| $27.4M | 0.17% |
124,735
+7,454
| +6% | +$1.69M |
|
105
Cencora
COR
$61.2B
| $27M | 0.16% |
149,996
-24,956
| -14% | -$4.61M |
|
106
NIO
NIO
$11.9B
| $26.9M | 0.16% |
2,973,838
-288,745
| -9% | -$3.21M |
|
107
Baxter International
BAX
$14.2B
| $26.4M | 0.16% |
698,655
+87,683
| +14% | +$3.74M |
|
108
MarketAxess Holdings
MKTX
$5.72B
| $26.1M | 0.16% |
122,304
-59,353
| -33% | -$14.4M |
|
109
Darden Restaurants
DRI
$24.4B
| $25.5M | 0.15% |
178,355
+31,073
| +21% | +$4.93M |
|
110
Marathon Petroleum
MPC
$83.7B
| $24.7M | 0.15% |
163,046
+89,990
| +123% | +$12.5M |
|
|
PXD
111
DELISTED
Pioneer Natural Resource Co.
PXD
| $24.7M | 0.15% |
107,393
+32,626
| +44% | +$7.43M |
|
112
AT&T
T
$163B
| $24.2M | 0.15% |
1,610,372
-372,003
| -19% | -$5.45M |
|
113
Fair Isaac
FICO
$22.5B
| $23.8M | 0.14% |
27,354
+4,188
| +18% | +$3.59M |
|
114
Warner Music
WMG
$13.8B
| $23.7M | 0.14% |
753,569
+164,621
| +28% | +$5.16M |
|
115
Legend Biotech
LEGN
$4.01B
| $23.6M | 0.14% |
352,091
+14,606
| +4% | +$1.01M |
|
116
Molson Coors Class B
TAP
$8.1B
| $23.4M | 0.14% |
367,319
+25,189
| +7% | +$1.64M |
|
117
KE Holdings
BEKE
$18.8B
| $23.3M | 0.14% |
1,500,901
-54,111
| -3% | -$860K |
|
118
Corpay
CPAY
$25.7B
| $23.2M | 0.14% |
90,786
+28,184
| +45% | +$7.37M |
|
119
Ovintiv
OVV
$16.4B
| $22.9M | 0.14% |
481,944
+325,498
| +208% | +$14.7M |
|
|
SII
120
Sprott
SII
$3.03B
| $22.8M | 0.14% |
745,336
-16,948
| -2% | -$557K |
|
121
ZTO Express
ZTO
$17.9B
| $22.4M | 0.14% |
928,140
-38,500
| -4% | -$979K |
|
122
Allison Transmission
ALSN
$9.82B
| $22.4M | 0.14% |
379,087
+169,412
| +81% | +$9.97M |
|
123
Global Payments
GPN
$22.8B
| $22.1M | 0.13% |
191,206
+28,031
| +17% | +$3.33M |
|
124
Clorox
CLX
$12.7B
| $21.8M | 0.13% |
166,006
-40,364
| -20% | -$6.13M |
|
125
Albertsons Companies
ACI
$5.83B
| $21.7M | 0.13% |
952,050
+305,377
| +47% | +$6.82M |
|
Similar funds
Ray Dalio's Q3 2023 Portfolio in Review
As of Q3 2023, Ray Dalio held 826 positions worth $16.5B, up 2.2% from $16.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Ray Dalio deployed $1.1B of net new capital in Q3 2023, opening 130 new positions and adding to 388 existing holdings. Its largest new stake was Broadcom: 540,410 shares worth $44.9M.
By sector, the portfolio is most concentrated in Consumer Staples at 27% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Vanguard FTSE Emerging Markets ETF, an estimated $76.6M trimmed.
- Ray Dalio's largest Q3 2023 buy was Broadcom: 540,410 shares worth $44.9M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2023, an estimated $61.9M increase.
- Ray Dalio's biggest Q3 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $76.6M.
- Ray Dalio fully exited Corteva in Q3 2023, selling an estimated $19M.
- Ray Dalio's ten largest holdings make up 34% of its $16.5B portfolio in Q3 2023.
- Ray Dalio opened 130 new positions and closed 86 in Q3 2023.
- Ray Dalio's portfolio value rose 2.2% quarter-over-quarter to $16.5B.
Based on Bridgewater Associates's 13F filing for Q3 2023, filed 13 Nov 2023.