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 | |
|---|---|---|---|---|---|---|
176
Dover
DOV
$28.4B
| $3.09M | 0.04% |
66,955
-4,462
| -6% | -$226K |
|
|
CLR
177
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $3.04M | 0.04% |
105,100
-4,037
| -4% | -$131K |
|
|
MRO
178
DELISTED
Marathon Oil Corporation
MRO
| $2.96M | 0.04% |
192,200
+16,300
| +9% | +$309K |
|
179
Waste Management
WM
$91B
| $2.87M | 0.04% |
57,513
-12,200
| -18% | -$608K |
|
180
EQT Corp
EQT
$32.3B
| $2.83M | 0.04% |
80,146
+7,768
| +11% | +$317K |
|
181
Lowe's Companies
LOW
$125B
| $2.8M | 0.04% |
+40,692
| New | +$2.8M |
|
182
NextEra Energy
NEE
$177B
| $2.74M | 0.04% |
112,272
-54,000
| -32% | -$1.37M |
|
183
Honeywell
HON
$78B
| $2.63M | 0.04% |
30,933
+14,690
| +90% | +$1.34M |
|
|
WRK
184
DELISTED
WestRock Company
WRK
| $2.59M | 0.03% |
+55,881
| New | +$2.99M |
|
|
CTRA
185
DELISTED
Coterra Energy
CTRA
| $2.57M | 0.03% |
117,500
+10,500
| +10% | +$269K |
|
186
AES
AES
$10.5B
| $2.56M | 0.03% |
+261,115
| New | +$3.15M |
|
187
Eldorado Gold
EGO
$9.89B
| $2.55M | 0.03% |
159,500
+11,980
| +8% | +$199K |
|
|
PARA
188
DELISTED
Paramount Global Class B
PARA
| $2.49M | 0.03% |
62,373
-11,581
| -16% | -$562K |
|
|
PTR
189
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
| $2.49M | 0.03% |
35,697
-9,700
| -21% | -$865K |
|
190
Gold Fields
GFI
$36.5B
| $2.44M | 0.03% |
918,400
+72,400
| +9% | +$207K |
|
|
CERN
191
DELISTED
Cerner Corp
CERN
| $2.25M | 0.03% |
37,477
-31,300
| -46% | -$2.05M |
|
|
SWN
192
DELISTED
Southwestern Energy Company
SWN
| $2.24M | 0.03% |
176,701
-34,982
| -17% | -$608K |
|
|
AUY
193
DELISTED
Yamana Gold, Inc.
AUY
| $2.08M | 0.03% |
1,224,700
-23,800
| -2% | -$48.7K |
|
194
Kinross Gold
KGC
$32.8B
| $2.08M | 0.03% |
1,202,800
-2,200
| -0.2% | -$4.02K |
|
|
TYC
195
DELISTED
TYCO INTL PLC COM SHS (IRL)
TYC
| $2.07M | 0.03% |
59,037
-62,839
| -52% | -$2.42M |
|
196
Norfolk Southern
NSC
$75.1B
| $2.06M | 0.03% |
+26,893
| New | +$2.19M |
|
197
Teck Resources
TECK
$32.6B
| $1.96M | 0.03% |
411,200
+148,800
| +57% | +$1.06M |
|
|
JWN
198
DELISTED
Nordstrom
JWN
| $1.83M | 0.02% |
+25,543
| New | +$1.92M |
|
199
Zimmer Biomet
ZBH
$18.4B
| $1.72M | 0.02% |
18,858
+3,791
| +25% | +$380K |
|
200
Boston Scientific
BSX
$71.5B
| $1.7M | 0.02% |
103,684
-14,700
| -12% | -$251K |
|
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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.