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 | |
|---|---|---|---|---|---|---|
126
3M
MMM
$94.3B
| $5.65M | 0.08% |
47,644
+35,820
| +303% | +$4.4M |
|
127
KLA
KLAC
$259B
| $5.6M | 0.07% |
1,119,250
-73,020
| -6% | -$375K |
|
128
Skyworks Solutions
SWKS
$10.6B
| $5.28M | 0.07% |
+62,702
| New | +$5.74M |
|
|
MXIM
129
DELISTED
Maxim Integrated Products
MXIM
| $5.26M | 0.07% |
+157,542
| New | +$5.22M |
|
130
Emerson Electric
EMR
$88.3B
| $5.18M | 0.07% |
117,268
+70,800
| +152% | +$3.48M |
|
|
PXD
131
DELISTED
Pioneer Natural Resource Co.
PXD
| $5.08M | 0.07% |
41,800
+3,100
| +8% | +$386K |
|
132
Elevance Health
ELV
$85.5B
| $5.06M | 0.07% |
36,141
+2,600
| +8% | +$391K |
|
133
McKesson
MCK
$101B
| $4.94M | 0.07% |
26,713
-3,000
| -10% | -$636K |
|
134
CF Industries
CF
$17.3B
| $4.91M | 0.07% |
+109,236
| New | +$6.35M |
|
135
Booking.com
BKNG
$161B
| $4.9M | 0.07% |
99,000
+47,500
| +92% | +$2.36M |
|
136
CenterPoint Energy
CNP
$26.8B
| $4.87M | 0.07% |
270,109
+91,909
| +52% | +$1.72M |
|
137
Phillips 66
PSX
$81.4B
| $4.78M | 0.06% |
62,150
+11,100
| +22% | +$882K |
|
138
Urban Outfitters
URBN
$6.59B
| $4.77M | 0.06% |
+162,489
| New | +$5.22M |
|
139
Textron
TXT
$15.4B
| $4.77M | 0.06% |
126,669
+57,068
| +82% | +$2.36M |
|
140
Lincoln National
LNC
$8.81B
| $4.63M | 0.06% |
97,621
+51,000
| +109% | +$2.73M |
|
141
Nucor
NUE
$62.1B
| $4.57M | 0.06% |
+121,625
| New | +$5.21M |
|
142
Cencora
COR
$61.2B
| $4.51M | 0.06% |
47,443
+5,100
| +12% | +$535K |
|
143
PVH
PVH
$4.04B
| $4.49M | 0.06% |
44,000
+25,181
| +134% | +$2.86M |
|
144
Devon Energy
DVN
$47.3B
| $4.37M | 0.06% |
117,700
+11,100
| +10% | +$509K |
|
145
Biogen
BIIB
$30.7B
| $4.31M | 0.06% |
+14,766
| New | +$4.88M |
|
146
Las Vegas Sands
LVS
$29.6B
| $4.23M | 0.06% |
+111,492
| New | +$5.62M |
|
147
Aflac
AFL
$62.6B
| $4.21M | 0.06% |
144,970
+11,200
| +8% | +$339K |
|
148
APA Corp
APA
$13.2B
| $4.2M | 0.06% |
107,300
+8,800
| +9% | +$400K |
|
|
HES
149
DELISTED
Hess
HES
| $4.11M | 0.06% |
82,000
+7,100
| +9% | +$406K |
|
150
Royal Gold
RGLD
$19.5B
| $4.05M | 0.05% |
86,300
+15,500
| +22% | +$797K |
|
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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.