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 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Chemed
CHE
$7.22B
| $9.44M | 0.05% |
17,841
+1,531
| +9% | +$735K |
|
202
IBM
IBM
$224B
| $9.26M | 0.05% |
+69,299
| New | +$8.69M |
|
203
Papa John's
PZZA
$806M
| $9.2M | 0.05% |
68,900
+6,870
| +11% | +$879K |
|
|
FISV
204
Fiserv Inc
FISV
$27.9B
| $9.05M | 0.05% |
87,237
+61,693
| +242% | +$6.38M |
|
205
Verizon
VZ
$196B
| $8.94M | 0.05% |
171,993
+150,209
| +690% | +$7.84M |
|
|
SGI
206
Somnigroup International
SGI
$13.7B
| $8.91M | 0.05% |
189,556
-111,362
| -37% | -$5.05M |
|
207
TJX Companies
TJX
$178B
| $8.81M | 0.05% |
115,991
+80,359
| +226% | +$5.57M |
|
208
Ralph Lauren
RL
$23.5B
| $8.8M | 0.05% |
74,045
-35,081
| -32% | -$4.21M |
|
|
NBP
209
NovaBridge Biosciences American Depositary Shares
NBP
$202M
| $8.8M | 0.05% |
185,614
+39,630
| +27% | +$2.38M |
|
210
Elevance Health
ELV
$85.5B
| $8.79M | 0.05% |
18,962
+16,779
| +769% | +$7.06M |
|
211
New Oriental
EDU
$8.98B
| $8.75M | 0.05% |
416,511
+81,990
| +25% | +$1.77M |
|
|
BNY
212
Bank of New York Mellon
BNY
$107B
| $8.62M | 0.05% |
148,473
-192,093
| -56% | -$11M |
|
213
XPO
XPO
$23.7B
| $8.59M | 0.05% |
186,668
+133,009
| +248% | +$6.18M |
|
214
Toll Brothers
TOL
$14.5B
| $8.54M | 0.05% |
118,040
-68,907
| -37% | -$4.43M |
|
215
T. Rowe Price
TROW
$24.3B
| $8.51M | 0.05% |
43,296
-52,704
| -55% | -$10.7M |
|
216
Herbalife
HLF
$1.29B
| $8.33M | 0.05% |
203,508
+30,045
| +17% | +$1.25M |
|
217
Carvana
CVNA
$77.9B
| $8.29M | 0.05% |
178,830
-116,080
| -39% | -$6.39M |
|
218
Hain Celestial
HAIN
$53.7M
| $8.09M | 0.05% |
189,810
+20,751
| +12% | +$885K |
|
219
AvalonBay Communities
AVB
$26.8B
| $8.04M | 0.05% |
31,841
+12,763
| +67% | +$3.04M |
|
220
Freshpet
FRPT
$3.22B
| $8M | 0.05% |
83,999
+838
| +1% | +$104K |
|
221
Envista
NVST
$4.52B
| $8M | 0.05% |
177,462
+29,894
| +20% | +$1.23M |
|
222
Grand Canyon Education
LOPE
$3.98B
| $7.92M | 0.05% |
92,415
+4,971
| +6% | +$410K |
|
223
Gentex
GNTX
$5.07B
| $7.91M | 0.05% |
227,023
-132,809
| -37% | -$4.71M |
|
|
DADA
224
DELISTED
Dada Nexus
DADA
| $7.89M | 0.05% |
599,401
+121,778
| +25% | +$2.35M |
|
225
RLX Technology
RLX
$2.46B
| $7.5M | 0.04% |
1,924,289
+299,432
| +18% | +$1.38M |
|
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Ray Dalio's Q4 2021 Portfolio in Review
As of Q4 2021, Ray Dalio held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Ray Dalio opened a new position in RTX Corp worth $16M.
- Ray Dalio's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Ray Dalio added most to Alibaba in Q4 2021, an estimated $142M increase.
- Ray Dalio's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Ray Dalio fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Ray Dalio's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Ray Dalio opened 137 new positions and closed 89 in Q4 2021.
- Ray Dalio's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.