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 | |
|---|---|---|---|---|---|---|
176
Digital Realty Trust
DLR
$71.7B
| $2.13M | 0.02% |
18,978
+13,917
| +275% | +$1.67M |
|
177
Microsoft
MSFT
$3.71T
| $2.06M | 0.02% |
18,010
+8,361
| +87% | +$906K |
|
|
178
Oracle
ORCL
$423B
| $2.04M | 0.02% |
39,614
-748,983
| -95% | -$36.4M |
|
|
MXIM
179
DELISTED
Maxim Integrated Products
MXIM
| $2.02M | 0.02% |
+35,827
| New | +$2.16M |
|
180
Apple
AAPL
$4.57T
| $2M | 0.02% |
+35,452
| New | +$1.85M |
|
181
Booking.com
BKNG
$161B
| $2M | 0.02% |
25,175
-56,300
| -69% | -$4.43M |
|
182
Salesforce
CRM
$158B
| $1.95M | 0.02% |
+12,277
| New | +$1.82M |
|
|
RHT
183
DELISTED
Red Hat Inc
RHT
| $1.84M | 0.02% |
+13,499
| New | +$1.93M |
|
184
ManpowerGroup
MAN
$2.63B
| $1.77M | 0.02% |
20,542
+11,520
| +128% | +$1.03M |
|
|
VRN
185
DELISTED
Veren
VRN
| $1.72M | 0.02% |
270,261
+38,045
| +16% | +$251K |
|
186
Newmont
NEM
$119B
| $1.69M | 0.02% |
55,975
+7,661
| +16% | +$259K |
|
187
Edwards Lifesciences
EW
$51.7B
| $1.67M | 0.02% |
+28,770
| New | +$1.41M |
|
188
Stryker
SYK
$130B
| $1.64M | 0.02% |
+9,239
| New | +$1.58M |
|
189
Corning
GLW
$143B
| $1.63M | 0.02% |
+46,204
| New | +$1.5M |
|
190
Travelers Companies
TRV
$80.2B
| $1.62M | 0.02% |
12,507
-26,193
| -68% | -$3.38M |
|
191
Las Vegas Sands
LVS
$29.6B
| $1.61M | 0.02% |
27,166
-4,135
| -13% | -$278K |
|
|
PPL
192
PPL Corp
PPL
$26.7B
| $1.61M | 0.02% |
54,882
-294,566
| -84% | -$8.61M |
|
193
Thermo Fisher Scientific
TMO
$220B
| $1.57M | 0.02% |
6,418
-13,274
| -67% | -$3.05M |
|
194
Meta Platforms (Facebook)
META
$1.51T
| $1.55M | 0.02% |
9,420
-38,814
| -80% | -$7.03M |
|
195
Nasdaq
NDAQ
$52.9B
| $1.55M | 0.02% |
+54,138
| New | +$1.67M |
|
196
Huazhu Hotels Group
HTHT
$13B
| $1.52M | 0.02% |
+46,992
| New | +$1.65M |
|
197
Yum China
YUMC
$16.3B
| $1.48M | 0.02% |
42,209
| – | – |
|
198
Prudential Financial
PRU
$41.8B
| $1.48M | 0.02% |
14,593
-104,584
| -88% | -$10.3M |
|
199
Mastercard
MA
$493B
| $1.42M | 0.01% |
6,388
-25,178
| -80% | -$5.25M |
|
200
Lincoln National
LNC
$8.81B
| $1.42M | 0.01% |
20,941
-119,240
| -85% | -$7.87M |
|
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.