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
|
+$43.1M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$36M |
| 3 |
GE Aerospace
GE
|
+$25.9M |
| 4 |
iShares MSCI South Korea ETF
EWY
|
+$24.9M |
| 5 |
Intel
INTC
|
+$23.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Brazil ETF
EWZ
|
+$159M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$152M |
| 3 |
CVS Health
CVS
|
+$43.4M |
| 4 |
WBA
Walgreens Boots Alliance
WBA
|
+$37M |
| 5 |
Oracle
ORCL
|
+$36.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 3.43% |
| 2 | Consumer Discretionary | 3.34% |
| 3 | Energy | 2.23% |
| 4 | Healthcare | 1.95% |
| 5 | Industrials | 1.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Copart
CPRT
$27.5B
| $5.1M | 0.05% |
395,984
+351,084
| +782% | +$5.24M |
|
127
Imperial Oil
IMO
$60.4B
| $5.1M | 0.05% |
157,720
+9,650
| +7% | +$309K |
|
128
Cenovus Energy
CVE
$52.1B
| $5.08M | 0.05% |
506,183
+71,349
| +16% | +$696K |
|
|
CTXS
129
DELISTED
Citrix Systems Inc
CTXS
| $5.08M | 0.05% |
+45,651
| New | +$5.05M |
|
130
Liberty Global Class A
LBTYA
$3.6B
| $4.81M | 0.05% |
+166,144
| New | +$4.64M |
|
131
Texas Instruments
TXN
$261B
| $4.48M | 0.05% |
+41,789
| New | +$4.65M |
|
132
Altria Group
MO
$114B
| $4.4M | 0.05% |
72,937
+43,453
| +147% | +$2.58M |
|
133
Bausch Health
BHC
$2.34B
| $4.36M | 0.05% |
169,886
+24,460
| +17% | +$560K |
|
134
McKesson
MCK
$101B
| $4.34M | 0.05% |
32,716
-24,036
| -42% | -$3.13M |
|
135
AutoZone
AZO
$51.1B
| $4.09M | 0.04% |
5,269
-1,259
| -19% | -$927K |
|
136
Target
TGT
$68B
| $4.08M | 0.04% |
46,239
-42,133
| -48% | -$3.5M |
|
|
SJR
137
DELISTED
Shaw Communications Inc.
SJR
| $3.95M | 0.04% |
202,836
+30,827
| +18% | +$623K |
|
138
EOG Resources
EOG
$70.7B
| $3.81M | 0.04% |
29,901
-17,835
| -37% | -$2.17M |
|
139
O'Reilly Automotive
ORLY
$76.3B
| $3.74M | 0.04% |
161,535
-132,615
| -45% | -$2.82M |
|
140
Open Text
OTEX
$6.04B
| $3.68M | 0.04% |
96,886
+18,351
| +23% | +$701K |
|
141
Cleveland-Cliffs
CLF
$6.99B
| $3.65M | 0.04% |
288,629
-1,750,848
| -86% | -$18M |
|
142
Waste Management
WM
$91B
| $3.64M | 0.04% |
+40,273
| New | +$3.57M |
|
143
Quest Diagnostics
DGX
$26.3B
| $3.59M | 0.04% |
33,261
+6,706
| +25% | +$736K |
|
144
JD.com
JD
$44.5B
| $3.52M | 0.04% |
135,070
+21,926
| +19% | +$718K |
|
145
Capital One
COF
$134B
| $3.52M | 0.04% |
37,062
+29,999
| +425% | +$2.92M |
|
146
Monster Beverage
MNST
$88.4B
| $3.45M | 0.04% |
+118,446
| New | +$3.56M |
|
147
NetEase
NTES
$84.7B
| $3.33M | 0.03% |
72,915
+11,830
| +19% | +$544K |
|
148
Rockwell Automation
ROK
$49B
| $3.32M | 0.03% |
+17,681
| New | +$3.16M |
|
149
Gildan
GIL
$10.6B
| $3.27M | 0.03% |
107,502
+14,098
| +15% | +$410K |
|
150
General Dynamics
GD
$106B
| $3.1M | 0.03% |
15,135
+5,086
| +51% | +$995K |
|
Similar funds
Ray Dalio's Q3 2018 Portfolio in Review
As of Q3 2018, Ray Dalio held 523 positions worth $9.65B, down 3.5% from $10B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Ray Dalio withdrew a net $469M in Q3 2018, closing 169 positions and reducing 149 holdings. Its most notable exit was PG&E, an estimated $33M position sold in full.
By sector, the portfolio is most concentrated in Financials at 3.4% of assets, up from 3.4% a quarter earlier, followed by Consumer Discretionary and Energy.
Against the trend, Ray Dalio opened a new position in GE Aerospace worth $22.7M.
- Ray Dalio's largest Q3 2018 buy was GE Aerospace: 419,966 shares worth $22.7M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2018, an estimated $43.1M increase.
- Ray Dalio's biggest Q3 2018 reduction was iShares MSCI Brazil ETF, cutting an estimated $159M.
- Ray Dalio fully exited PG&E in Q3 2018, selling an estimated $33M.
- Ray Dalio's ten largest holdings make up 71% of its $9.65B portfolio in Q3 2018.
- Ray Dalio opened 63 new positions and closed 169 in Q3 2018.
- Ray Dalio's portfolio value fell 3.5% quarter-over-quarter to $9.65B.
Based on Bridgewater Associates's 13F filing for Q3 2018, filed 13 Nov 2018.