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 MSCI Emerging Markets ETF
EEM
|
+$199M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$82.8M |
| 3 |
American Express
AXP
|
+$20.2M |
| 4 |
RTX Corp
RTX
|
+$15.4M |
| 5 |
United Parcel Service
UPS
|
+$14.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$364M |
| 2 |
Microsoft
MSFT
|
+$34.2M |
| 3 |
Ventas
VTR
|
+$15M |
| 4 |
Intel
INTC
|
+$14.6M |
| 5 |
Conagra Brands
CAG
|
+$12.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.58% |
| 2 | Energy | 1.96% |
| 3 | Materials | 1.29% |
| 4 | Consumer Discretionary | 1.01% |
| 5 | Industrials | 0.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Nucor
NUE
$62.1B
| $1.84M | 0.01% |
33,850
+26,011
| +332% | +$1.37M |
|
177
Hershey
HSY
$36.6B
| $1.82M | 0.01% |
+19,076
| New | +$1.77M |
|
|
178
Ventas
VTR
$47.9B
| $1.76M | 0.01% |
24,858
-205,787
| -89% | -$15M |
|
179
Lincoln National
LNC
$8.81B
| $1.74M | 0.01% |
32,492
+2,700
| +9% | +$144K |
|
180
Southern Company
SO
$107B
| $1.72M | 0.01% |
39,500
-20,900
| -35% | -$918K |
|
181
Rockwell Automation
ROK
$49B
| $1.72M | 0.01% |
15,620
+8,500
| +119% | +$999K |
|
182
Waste Management
WM
$91B
| $1.68M | 0.01% |
35,400
+7,500
| +27% | +$343K |
|
|
MXIM
183
DELISTED
Maxim Integrated Products
MXIM
| $1.68M | 0.01% |
55,449
-173,417
| -76% | -$5.46M |
|
184
Medtronic
MDT
$112B
| $1.68M | 0.01% |
+27,045
| New | +$1.72M |
|
|
TLM
185
DELISTED
TALISMAN ENERGY INC
TLM
| $1.64M | 0.01% |
189,200
+2,400
| +1% | +$24.2K |
|
186
CNX Resources
CNX
$5.2B
| $1.62M | 0.01% |
51,384
+2,160
| +4% | +$72.4K |
|
187
Sherwin-Williams
SHW
$89.8B
| $1.58M | 0.01% |
21,603
+6,537
| +43% | +$464K |
|
188
Honeywell
HON
$78B
| $1.54M | 0.01% |
18,357
-15,247
| -45% | -$1.3M |
|
189
Dover
DOV
$28.4B
| $1.52M | 0.01% |
23,419
+9,118
| +64% | +$642K |
|
190
Western Digital
WDC
$150B
| $1.52M | 0.01% |
+20,667
| New | +$1.55M |
|
191
VF Corp
VFC
$5.89B
| $1.48M | 0.01% |
+23,872
| New | +$1.43M |
|
192
ManpowerGroup
MAN
$2.63B
| $1.48M | 0.01% |
+21,148
| New | +$1.65M |
|
193
SM Energy
SM
$6.92B
| $1.44M | 0.01% |
+18,483
| New | +$1.51M |
|
194
Colgate-Palmolive
CL
$74.4B
| $1.42M | 0.01% |
+21,806
| New | +$1.44M |
|
195
Jabil
JBL
$35.8B
| $1.42M | 0.01% |
70,219
-7,700
| -10% | -$161K |
|
|
ATVI
196
DELISTED
Activision Blizzard
ATVI
| $1.39M | 0.01% |
66,966
-27,448
| -29% | -$624K |
|
197
Meta Platforms (Facebook)
META
$1.51T
| $1.39M | 0.01% |
+17,600
| New | +$1.29M |
|
198
Lear
LEA
$8.18B
| $1.36M | 0.01% |
+15,700
| New | +$1.52M |
|
|
TRQ
199
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $1.35M | 0.01% |
35,830
-80
| -0.2% | -$2.82K |
|
|
EA
200
DELISTED
Electronic Arts
EA
| $1.33M | 0.01% |
+37,352
| New | +$1.36M |
|
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Ray Dalio's Q3 2014 Portfolio in Review
As of Q3 2014, Ray Dalio held 455 positions worth $12.8B, down 3.9% from $13.3B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Ray Dalio's Q3 2014 filing shows 152 new, 111 increased, 96 reduced and 92 closed positions. Its largest new stake was American Express: 224,123 shares worth $19.6M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $364M.
By sector, the portfolio is most concentrated in Technology at 2.6% of assets, down from 3% a quarter earlier, followed by Energy and Materials.
- Ray Dalio's largest Q3 2014 buy was American Express: 224,123 shares worth $19.6M.
- Ray Dalio added most to iShares MSCI Emerging Markets ETF in Q3 2014, an estimated $199M increase.
- Ray Dalio's biggest Q3 2014 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $364M.
- Ray Dalio fully exited Conagra Brands in Q3 2014, selling an estimated $12.8M.
- Ray Dalio's ten largest holdings make up 90% of its $12.8B portfolio in Q3 2014.
- Ray Dalio opened 152 new positions and closed 92 in Q3 2014.
- Ray Dalio's portfolio value fell 3.9% quarter-over-quarter to $12.8B.
Based on Bridgewater Associates's 13F filing for Q3 2014, filed 12 Nov 2014.