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 S&P 500 ETF
IVV
|
+$380M |
| 2 |
iShares MSCI South Korea ETF
EWY
|
+$171M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$146M |
| 4 |
XEC
CIMAREX ENERGY CO
XEC
|
+$84.8M |
| 5 |
Bread Financial
BFH
|
+$78.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Brazil ETF
EWZ
|
+$133M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$92.5M |
| 3 |
iShares MSCI Taiwan ETF
EWT
|
+$37M |
| 4 |
Toll Brothers
TOL
|
+$33.7M |
| 5 |
NFX
Newfield Exploration
NFX
|
+$24.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 5.64% |
| 2 | Consumer Discretionary | 4.56% |
| 3 | Energy | 3.53% |
| 4 | Healthcare | 2.96% |
| 5 | Industrials | 2.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Gildan
GIL
$10.6B
| $2.76M | 0.03% |
90,917
-16,585
| -15% | -$512K |
|
|
EA
202
DELISTED
Electronic Arts
EA
| $2.73M | 0.03% |
+34,581
| New | +$3.17M |
|
203
Open Text
OTEX
$6.04B
| $2.72M | 0.02% |
83,536
-13,350
| -14% | -$451K |
|
204
CSX Corp
CSX
$93.1B
| $2.71M | 0.02% |
+131,070
| New | +$3.01M |
|
205
BHP
BHP
$230B
| $2.71M | 0.02% |
62,887
+2,661
| +4% | +$111K |
|
206
EOG Resources
EOG
$70.7B
| $2.66M | 0.02% |
30,509
+608
| +2% | +$65.1K |
|
207
Iron Mountain
IRM
$36.1B
| $2.65M | 0.02% |
81,746
+72,226
| +759% | +$2.37M |
|
208
PNC Financial Services
PNC
$101B
| $2.65M | 0.02% |
+22,629
| New | +$2.89M |
|
209
Bausch Health
BHC
$2.34B
| $2.63M | 0.02% |
142,072
-27,814
| -16% | -$662K |
|
210
Rio Tinto
RIO
$164B
| $2.61M | 0.02% |
53,797
+2,218
| +4% | +$108K |
|
|
CTRA
211
DELISTED
Coterra Energy
CTRA
| $2.61M | 0.02% |
116,634
-140,446
| -55% | -$3.39M |
|
212
SEI Investments
SEIC
$12.6B
| $2.6M | 0.02% |
56,169
+50,653
| +918% | +$2.67M |
|
213
NRG Energy
NRG
$24.8B
| $2.58M | 0.02% |
65,168
-74,989
| -54% | -$2.87M |
|
214
Vale
VALE
$62.6B
| $2.54M | 0.02% |
192,893
+15,398
| +9% | +$220K |
|
215
Wabtec
WAB
$49.3B
| $2.54M | 0.02% |
+36,141
| New | +$3.15M |
|
216
Albemarle
ALB
$15.5B
| $2.53M | 0.02% |
+32,861
| New | +$3.1M |
|
217
Archer Daniels Midland
ADM
$36.9B
| $2.51M | 0.02% |
+61,184
| New | +$2.85M |
|
218
Wells Fargo
WFC
$264B
| $2.49M | 0.02% |
54,074
+43,289
| +401% | +$2.22M |
|
219
Chevron
CVX
$366B
| $2.49M | 0.02% |
22,866
-74,346
| -76% | -$8.61M |
|
220
M&T Bank
MTB
$36.2B
| $2.43M | 0.02% |
16,973
+8,614
| +103% | +$1.38M |
|
221
Petrobras
PBR
$116B
| $2.42M | 0.02% |
186,085
-35,693
| -16% | -$517K |
|
222
Packaging Corp of America
PKG
$22.8B
| $2.38M | 0.02% |
+28,538
| New | +$2.65M |
|
223
Alliant Energy
LNT
$18B
| $2.37M | 0.02% |
56,172
+39,306
| +233% | +$1.73M |
|
224
Kinross Gold
KGC
$32.8B
| $2.35M | 0.02% |
728,440
-102,417
| -12% | -$287K |
|
225
ExxonMobil
XOM
$634B
| $2.33M | 0.02% |
34,137
+3,403
| +11% | +$267K |
|
Similar funds
Ray Dalio's Q4 2018 Portfolio in Review
As of Q4 2018, Ray Dalio held 528 positions worth $10.9B, up 13% from $9.65B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Ray Dalio deployed $2.53B of net new capital in Q4 2018, opening 174 new positions and adding to 210 existing holdings. Its largest new stake was Eastman Chemical: 624,555 shares worth $45.7M.
By sector, the portfolio is most concentrated in Financials at 5.6% of assets, up from 3.4% a quarter earlier, followed by Consumer Discretionary and Energy.
On the sell side, the largest reduction was iShares MSCI Brazil ETF, an estimated $133M trimmed.
- Ray Dalio's largest Q4 2018 buy was Eastman Chemical: 624,555 shares worth $45.7M.
- Ray Dalio added most to iShares Core S&P 500 ETF in Q4 2018, an estimated $380M increase.
- Ray Dalio's biggest Q4 2018 reduction was iShares MSCI Brazil ETF, cutting an estimated $133M.
- Ray Dalio fully exited iShares MSCI Taiwan ETF in Q4 2018, selling an estimated $37M.
- Ray Dalio's ten largest holdings make up 62% of its $10.9B portfolio in Q4 2018.
- Ray Dalio opened 174 new positions and closed 56 in Q4 2018.
- Ray Dalio's portfolio value rose 13% quarter-over-quarter to $10.9B.
Based on Bridgewater Associates's 13F filing for Q4 2018, filed 13 Feb 2019.