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 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Insulet
PODD
$9.79B
| $20.2M | 0.12% |
75,754
+12,337
| +19% | +$3.58M |
|
127
Lamb Weston
LW
$7.19B
| $19.8M | 0.11% |
311,816
+28,518
| +10% | +$1.65M |
|
128
Bristol-Myers Squibb
BMY
$132B
| $19.7M | 0.11% |
315,455
+110,359
| +54% | +$6.47M |
|
129
American Tower
AMT
$80.4B
| $19.6M | 0.11% |
67,032
+52,143
| +350% | +$14.2M |
|
130
Genuine Parts
GPC
$18.7B
| $19.2M | 0.11% |
136,832
-76,174
| -36% | -$10.1M |
|
131
Huazhu Hotels Group
HTHT
$13B
| $18.1M | 0.11% |
484,337
+92,034
| +23% | +$4.02M |
|
132
Celanese
CE
$4.82B
| $18M | 0.1% |
107,112
-61,627
| -37% | -$10M |
|
133
Molson Coors Class B
TAP
$8.1B
| $18M | 0.1% |
387,490
+156,762
| +68% | +$7.19M |
|
134
Canadian Pacific Kansas City
CP
$80.5B
| $17.7M | 0.1% |
245,457
+87,555
| +55% | +$6.4M |
|
|
ABMD
135
DELISTED
Abiomed Inc
ABMD
| $17.6M | 0.1% |
48,998
+2,451
| +5% | +$828K |
|
136
Teleflex
TFX
$5.98B
| $16.9M | 0.1% |
51,513
+22,923
| +80% | +$7.8M |
|
137
Cardinal Health
CAH
$55.4B
| $16.7M | 0.1% |
324,609
+29,349
| +10% | +$1.44M |
|
138
Masco
MAS
$15.3B
| $16.7M | 0.1% |
237,704
-140,317
| -37% | -$9.08M |
|
|
MASI
139
DELISTED
Masimo
MASI
| $16.6M | 0.1% |
56,836
+83
| +0.1% | +$23.6K |
|
140
Canadian National Railway
CNI
$76.6B
| $16.5M | 0.1% |
133,904
-2,599
| -2% | -$329K |
|
141
LKQ Corp
LKQ
$6.29B
| $16.4M | 0.1% |
273,950
-166,333
| -38% | -$9.39M |
|
142
Omnicell
OMCL
$1.68B
| $16.3M | 0.09% |
90,384
+15,368
| +20% | +$2.67M |
|
143
RTX Corp
RTX
$301B
| $16M | 0.09% |
+186,232
| New | +$16.2M |
|
144
Bright Horizons
BFAM
$3.86B
| $15.8M | 0.09% |
125,438
+8,392
| +7% | +$1.17M |
|
145
Dentsply Sirona
XRAY
$2.43B
| $15.8M | 0.09% |
282,660
+43,784
| +18% | +$2.41M |
|
146
Advance Auto Parts
AAP
$3.49B
| $15.4M | 0.09% |
64,256
-33,106
| -34% | -$7.56M |
|
147
PNC Financial Services
PNC
$101B
| $15.2M | 0.09% |
75,956
-91,621
| -55% | -$18.6M |
|
148
US Bancorp
USB
$99.6B
| $14.9M | 0.09% |
265,304
-319,261
| -55% | -$18.9M |
|
149
Casey's General Stores
CASY
$30.9B
| $14.8M | 0.09% |
74,764
+3,507
| +5% | +$678K |
|
|
MRSH
150
Marsh
MRSH
$91.5B
| $14.7M | 0.09% |
84,697
+59,328
| +234% | +$9.86M |
|
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Ray Dalio's Q4 2021 Portfolio in Review
As of Q4 2021, Ray Dalio held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Ray Dalio opened a new position in RTX Corp worth $16M.
- Ray Dalio's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Ray Dalio added most to Alibaba in Q4 2021, an estimated $142M increase.
- Ray Dalio's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Ray Dalio fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Ray Dalio's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Ray Dalio opened 137 new positions and closed 89 in Q4 2021.
- Ray Dalio's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.