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 India ETF
INDA
|
+$105M |
| 2 |
SWN
Southwestern Energy Company
SWN
|
+$47.9M |
| 3 |
Kroger
KR
|
+$42.8M |
| 4 |
Bread Financial
BFH
|
+$42.8M |
| 5 |
Carnival Corporation Ltd
CCL
|
+$42.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.95B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.1B |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$907M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$342M |
| 5 |
Bristol-Myers Squibb
BMY
|
+$47.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 4.47% |
| 2 | Financials | 2.86% |
| 3 | Energy | 2.75% |
| 4 | Industrials | 1.72% |
| 5 | Healthcare | 1.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Gildan
GIL
$10.6B
| $2.92M | 0.02% |
75,369
| – | – |
|
177
Bausch Health
BHC
$2.34B
| $2.92M | 0.02% |
115,412
| – | – |
|
|
SEE
178
DELISTED
Sealed Air
SEE
| $2.8M | 0.02% |
65,545
+50,393
| +333% | +$2.22M |
|
179
Campbell Soup
CPB
$6.87B
| $2.79M | 0.02% |
69,566
-49,522
| -42% | -$1.94M |
|
180
BHP
BHP
$230B
| $2.74M | 0.02% |
52,915
-5,661
| -10% | -$273K |
|
|
SJR
181
DELISTED
Shaw Communications Inc.
SJR
| $2.71M | 0.02% |
132,460
| – | – |
|
182
Akamai
AKAM
$16.1B
| $2.69M | 0.02% |
33,614
-67,596
| -67% | -$5.23M |
|
183
Rio Tinto
RIO
$164B
| $2.67M | 0.02% |
42,884
-4,855
| -10% | -$291K |
|
184
Vale
VALE
$62.6B
| $2.66M | 0.02% |
198,107
-14,580
| -7% | -$187K |
|
185
Chevron
CVX
$366B
| $2.66M | 0.02% |
21,386
-254
| -1% | -$30.7K |
|
186
Dover
DOV
$28.4B
| $2.63M | 0.02% |
26,262
-2,483
| -9% | -$238K |
|
187
Open Text
OTEX
$6.04B
| $2.63M | 0.02% |
63,508
| – | – |
|
188
Las Vegas Sands
LVS
$29.6B
| $2.62M | 0.02% |
+44,311
| New | +$2.74M |
|
189
Petrobras
PBR
$116B
| $2.59M | 0.02% |
166,204
-3,322
| -2% | -$50.7K |
|
190
ExxonMobil
XOM
$634B
| $2.47M | 0.02% |
32,191
-1,564
| -5% | -$121K |
|
191
Northern Trust
NTRS
$33.9B
| $2.42M | 0.02% |
26,921
+19,562
| +266% | +$1.8M |
|
192
J.M. Smucker
SJM
$12.8B
| $2.4M | 0.02% |
+20,879
| New | +$2.55M |
|
193
BP
BP
$107B
| $2.39M | 0.02% |
58,306
| – | – |
|
194
Kinross Gold
KGC
$32.8B
| $2.35M | 0.02% |
608,041
-2,153
| -0.4% | -$7.25K |
|
195
General Motors
GM
$76.8B
| $2.25M | 0.02% |
+58,346
| New | +$2.19M |
|
|
MOMO
196
Hello Group
MOMO
$866M
| $2.15M | 0.02% |
59,967
+45,175
| +305% | +$1.5M |
|
197
Lincoln National
LNC
$8.81B
| $2.11M | 0.02% |
32,802
-102,660
| -76% | -$6.56M |
|
198
Pinduoduo
PDD
$131B
| $2.09M | 0.02% |
+101,341
| New | +$2.19M |
|
199
Ovintiv
OVV
$16.4B
| $2.06M | 0.02% |
80,208
+14,444
| +22% | +$451K |
|
200
RTX Corp
RTX
$301B
| $1.96M | 0.02% |
+23,870
| New | +$2M |
|
Similar funds
Ray Dalio's Q2 2019 Portfolio in Review
As of Q2 2019, Ray Dalio held 380 positions worth $12.8B, down 22% from $16.3B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Ray Dalio withdrew a net $3.62B in Q2 2019, closing 75 positions and reducing 91 holdings. Its most notable exit was Bristol-Myers Squibb, an estimated $47.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 4.5% of assets, up from 2.1% a quarter earlier, followed by Financials and Energy.
Against the trend, Ray Dalio opened a new position in iShares China Large-Cap ETF worth $30.6M.
- Ray Dalio's largest Q2 2019 buy was iShares China Large-Cap ETF: 716,186 shares worth $30.6M.
- Ray Dalio added most to iShares MSCI India ETF in Q2 2019, an estimated $105M increase.
- Ray Dalio's biggest Q2 2019 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $1.95B.
- Ray Dalio fully exited Bristol-Myers Squibb in Q2 2019, selling an estimated $47.2M.
- Ray Dalio's ten largest holdings make up 69% of its $12.8B portfolio in Q2 2019.
- Ray Dalio opened 77 new positions and closed 75 in Q2 2019.
- Ray Dalio's portfolio value fell 22% quarter-over-quarter to $12.8B.
Based on Bridgewater Associates's 13F filing for Q2 2019, filed 13 Aug 2019.