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 |
McDonald's
MCD
|
+$6.41M |
| 2 |
UnitedHealth
UNH
|
+$6.05M |
| 3 |
Lockheed Martin
LMT
|
+$6.04M |
| 4 |
Philip Morris
PM
|
+$5.55M |
| 5 |
Accenture
ACN
|
+$5.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.04B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$444M |
| 3 |
iShares Core S&P 500 ETF
IVV
|
+$277M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$226M |
| 5 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$132M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 4% |
| 2 | Financials | 2.7% |
| 3 | Industrials | 1.84% |
| 4 | Materials | 1.48% |
| 5 | Consumer Staples | 1.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
EOG Resources
EOG
$70.7B
| $1.04M | 0.02% |
29,025
-497
| -2% | -$32.3K |
|
202
Under Armour
UAA
$2.6B
| $1.02M | 0.02% |
111,039
-54,119
| -33% | -$870K |
|
203
Axalta
AXTA
$8.17B
| $999K | 0.02% |
57,852
-27,974
| -33% | -$716K |
|
204
Cintas
CTAS
$81.3B
| $990K | 0.02% |
+22,856
| New | +$1.49M |
|
205
Autoliv
ALV
$9B
| $989K | 0.02% |
21,487
-10,421
| -33% | -$715K |
|
206
iQIYI
IQ
$1.28B
| $953K | 0.02% |
53,535
+12,748
| +31% | +$286K |
|
207
Southern Company
SO
$107B
| $940K | 0.02% |
+17,361
| New | +$1.1M |
|
208
McKesson
MCK
$101B
| $935K | 0.02% |
+6,910
| New | +$1.01M |
|
209
Simon Property Group
SPG
$72.3B
| $925K | 0.02% |
+16,856
| New | +$2.02M |
|
210
AutoZone
AZO
$51.1B
| $915K | 0.02% |
+1,081
| New | +$1.12M |
|
211
Gildan
GIL
$10.6B
| $910K | 0.02% |
72,220
-1,749
| -2% | -$42.2K |
|
212
Yum! Brands
YUM
$41.1B
| $900K | 0.02% |
+13,127
| New | +$1.22M |
|
|
K
213
DELISTED
Kellanova
K
| $895K | 0.02% |
+15,891
| New | +$974K |
|
214
Xcel Energy
XEL
$48.8B
| $895K | 0.02% |
+14,845
| New | +$967K |
|
215
Brown-Forman Class B
BF.B
$13.1B
| $881K | 0.02% |
+15,863
| New | +$1.02M |
|
216
Tapestry
TPR
$32.8B
| $875K | 0.02% |
67,539
-33,429
| -33% | -$783K |
|
217
Leggett & Platt
LEG
$1.31B
| $866K | 0.02% |
32,450
-15,673
| -33% | -$652K |
|
218
Church & Dwight Co
CHD
$24.5B
| $865K | 0.02% |
+13,478
| New | +$957K |
|
219
Archer Daniels Midland
ADM
$36.9B
| $855K | 0.02% |
+24,302
| New | +$994K |
|
220
WEC Energy
WEC
$35.1B
| $847K | 0.02% |
+9,610
| New | +$924K |
|
221
Dominion Energy
D
$59.3B
| $845K | 0.02% |
+11,701
| New | +$955K |
|
|
KL
222
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
| $826K | 0.02% |
28,353
-9,720
| -26% | -$356K |
|
223
McCormick & Company Non-Voting
MKC
$14.2B
| $821K | 0.02% |
+11,628
| New | +$902K |
|
|
JOBS
224
DELISTED
51job Inc
JOBS
| $820K | 0.02% |
13,354
-1,846
| -12% | -$140K |
|
225
Sempra
SRE
$54.8B
| $817K | 0.02% |
+14,462
| New | +$1.03M |
|
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Ray Dalio's Q1 2020 Portfolio in Review
As of Q1 2020, Ray Dalio held 650 positions worth $5.04B, down 49% from $9.79B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Ray Dalio withdrew a net $3.42B in Q1 2020, closing 251 positions and reducing 191 holdings. Its most notable exit was JPMorgan Chase, an estimated $90.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 4% of assets, up from 3.6% a quarter earlier, followed by Financials and Industrials.
Against the trend, Ray Dalio opened a new position in McDonald's worth $5.38M.
- Ray Dalio's largest Q1 2020 buy was McDonald's: 32,541 shares worth $5.38M.
- Ray Dalio added most to Lowe's Companies in Q1 2020, an estimated $4.7M increase.
- Ray Dalio's biggest Q1 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.04B.
- Ray Dalio fully exited JPMorgan Chase in Q1 2020, selling an estimated $90.5M.
- Ray Dalio's ten largest holdings make up 68% of its $5.04B portfolio in Q1 2020.
- Ray Dalio opened 179 new positions and closed 251 in Q1 2020.
- Ray Dalio's portfolio value fell 49% quarter-over-quarter to $5.04B.
Based on Bridgewater Associates's 13F filing for Q1 2020, filed 14 May 2020.