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
|
+$89.7M |
| 2 |
Cummins
CMI
|
+$35.2M |
| 3 |
Royal Bank of Canada
RY
|
+$32.9M |
| 4 |
Toll Brothers
TOL
|
+$32.7M |
| 5 |
Toronto Dominion Bank
TD
|
+$31.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$188M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$147M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76M |
| 4 |
NFX
Newfield Exploration
NFX
|
+$32.1M |
| 5 |
Procter & Gamble
PG
|
+$30.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 3.42% |
| 2 | Healthcare | 2.95% |
| 3 | Consumer Discretionary | 2.83% |
| 4 | Energy | 2.39% |
| 5 | Industrials | 2.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PX
201
DELISTED
Praxair Inc
PX
| $1.93M | 0.02% |
12,191
-2,477
| -17% | -$383K |
|
|
GAP
202
The Gap Inc
GAP
$7.37B
| $1.9M | 0.02% |
58,755
-197,509
| -77% | -$6.08M |
|
203
General Dynamics
GD
$106B
| $1.87M | 0.02% |
+10,049
| New | +$2.06M |
|
204
Brown-Forman Class B
BF.B
$13.1B
| $1.86M | 0.02% |
37,942
+14,356
| +61% | +$785K |
|
205
Newmont
NEM
$119B
| $1.82M | 0.02% |
48,314
-528
| -1% | -$20.8K |
|
206
Trimble
TRMB
$13.9B
| $1.8M | 0.02% |
54,787
+22,606
| +70% | +$784K |
|
207
Amazon
AMZN
$2.96T
| $1.77M | 0.02% |
+20,840
| New | +$1.65M |
|
|
TSS
208
DELISTED
Total System Services, Inc.
TSS
| $1.76M | 0.02% |
20,807
-2,607
| -11% | -$224K |
|
209
Factset
FDS
$10.2B
| $1.75M | 0.02% |
8,823
-2,288
| -21% | -$457K |
|
|
VRN
210
DELISTED
Veren
VRN
| $1.71M | 0.02% |
232,216
+162,930
| +235% | +$1.28M |
|
211
NVR
NVR
$17B
| $1.69M | 0.02% |
568
+271
| +91% | +$829K |
|
212
Altria Group
MO
$114B
| $1.67M | 0.02% |
+29,484
| New | +$1.7M |
|
213
State Street
STT
$50.7B
| $1.65M | 0.02% |
+17,758
| New | +$1.76M |
|
214
Royal Gold
RGLD
$19.5B
| $1.64M | 0.02% |
17,623
-10,363
| -37% | -$927K |
|
215
Affiliated Managers Group
AMG
$9.76B
| $1.63M | 0.02% |
+10,986
| New | +$1.81M |
|
216
Yum China
YUMC
$16.3B
| $1.62M | 0.02% |
+42,209
| New | +$1.67M |
|
217
Avery Dennison
AVY
$13.4B
| $1.61M | 0.02% |
15,820
-12,153
| -43% | -$1.29M |
|
|
DFS
218
DELISTED
Discover Financial Services
DFS
| $1.61M | 0.02% |
22,887
+4,783
| +26% | +$351K |
|
|
FLIR
219
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $1.52M | 0.02% |
29,240
+21,369
| +271% | +$1.14M |
|
220
Reliance Steel & Aluminium
RS
$21.6B
| $1.47M | 0.01% |
16,731
-20,074
| -55% | -$1.83M |
|
221
Xylem
XYL
$28.1B
| $1.44M | 0.01% |
+21,337
| New | +$1.55M |
|
222
IDEX
IEX
$17.3B
| $1.44M | 0.01% |
10,518
+4,637
| +79% | +$648K |
|
223
Southern Copper
SCCO
$166B
| $1.42M | 0.01% |
32,691
-449
| -1% | -$21.5K |
|
224
Cheesecake Factory
CAKE
$5.33B
| $1.41M | 0.01% |
25,685
-24,549
| -49% | -$1.3M |
|
|
GOLD
225
DELISTED
Randgold Resources Ltd
GOLD
| $1.32M | 0.01% |
17,111
+581
| +4% | +$46K |
|
Similar funds
Ray Dalio's Q2 2018 Portfolio in Review
As of Q2 2018, Ray Dalio held 552 positions worth $10B, down 4.6% from $10.5B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Ray Dalio's Q2 2018 filing shows 92 new, 126 increased, 226 reduced and 92 closed positions. Its largest new stake was Cummins: 235,261 shares worth $31.3M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $188M.
By sector, the portfolio is most concentrated in Financials at 3.4% of assets, up from 2% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Ray Dalio's largest Q2 2018 buy was Cummins: 235,261 shares worth $31.3M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q2 2018, an estimated $89.7M increase.
- Ray Dalio's biggest Q2 2018 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $188M.
- Ray Dalio fully exited Procter & Gamble in Q2 2018, selling an estimated $30.9M.
- Ray Dalio's ten largest holdings make up 70% of its $10B portfolio in Q2 2018.
- Ray Dalio opened 92 new positions and closed 92 in Q2 2018.
- Ray Dalio's portfolio value fell 4.6% quarter-over-quarter to $10B.
Based on Bridgewater Associates's 13F filing for Q2 2018, filed 13 Aug 2018.