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 | |
|---|---|---|---|---|---|---|
|
BCR
151
DELISTED
CR Bard Inc.
BCR
| $4.05M | 0.05% |
21,738
+1,600
| +8% | +$303K |
|
152
Public Service Enterprise Group
PEG
$37.7B
| $3.91M | 0.05% |
92,657
-121,737
| -57% | -$4.97M |
|
|
VMW
153
DELISTED
VMware, Inc
VMW
| $3.87M | 0.05% |
49,126
+36,900
| +302% | +$3.07M |
|
|
JOY
154
DELISTED
Joy Global Inc
JOY
| $3.86M | 0.05% |
+258,297
| New | +$6.26M |
|
155
AngloGold Ashanti
AU
$48.7B
| $3.85M | 0.05% |
470,600
+25,800
| +6% | +$191K |
|
156
Medtronic
MDT
$112B
| $3.83M | 0.05% |
57,186
-27,946
| -33% | -$2.06M |
|
157
Boeing
BA
$185B
| $3.78M | 0.05% |
28,856
-5,000
| -15% | -$694K |
|
|
EA
158
DELISTED
Electronic Arts
EA
| $3.75M | 0.05% |
55,270
+20,831
| +60% | +$1.46M |
|
159
Thermo Fisher Scientific
TMO
$220B
| $3.73M | 0.05% |
30,504
-13,219
| -30% | -$1.72M |
|
160
Alcoa
AA
$13.2B
| $3.67M | 0.05% |
158,101
-189,398
| -55% | -$4.43M |
|
161
Marriott International
MAR
$92.3B
| $3.66M | 0.05% |
+53,653
| New | +$3.88M |
|
|
NBL
162
DELISTED
Noble Energy, Inc.
NBL
| $3.65M | 0.05% |
120,952
+20,300
| +20% | +$699K |
|
163
TE Connectivity
TEL
$62.6B
| $3.6M | 0.05% |
60,059
+42,800
| +248% | +$2.6M |
|
164
Intuitive Surgical
ISRG
$134B
| $3.6M | 0.05% |
70,416
+25,065
| +55% | +$1.42M |
|
165
FMC
FMC
$1.33B
| $3.58M | 0.05% |
121,705
+98,236
| +419% | +$3.81M |
|
|
CTXS
166
DELISTED
Citrix Systems Inc
CTXS
| $3.57M | 0.05% |
64,649
-13,813
| -18% | -$786K |
|
|
STJ
167
DELISTED
St Jude Medical
STJ
| $3.48M | 0.05% |
+55,216
| New | +$3.94M |
|
168
Enovis
ENOV
$1.53B
| $3.48M | 0.05% |
67,570
+52,061
| +336% | +$3.45M |
|
169
Texas Instruments
TXN
$261B
| $3.44M | 0.05% |
69,408
+12,100
| +21% | +$591K |
|
170
Masco
MAS
$15.3B
| $3.33M | 0.04% |
132,101
-59,084
| -31% | -$1.52M |
|
171
Abbott
ABT
$187B
| $3.32M | 0.04% |
82,457
+54,000
| +190% | +$2.55M |
|
172
Cenovus Energy
CVE
$52.1B
| $3.3M | 0.04% |
218,300
-257,100
| -54% | -$3.63M |
|
173
Tyson Foods
TSN
$20.4B
| $3.27M | 0.04% |
75,785
-40,108
| -35% | -$1.71M |
|
|
CXO
174
DELISTED
CONCHO RESOURCES INC.
CXO
| $3.21M | 0.04% |
32,600
-7,733
| -19% | -$811K |
|
|
MRSH
175
Marsh
MRSH
$91.5B
| $3.2M | 0.04% |
61,290
+45,043
| +277% | +$2.51M |
|
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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.