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
|
+$118M |
| 2 |
JPMorgan Chase
JPM
|
+$87.7M |
| 3 |
Bank of America
BAC
|
+$66.7M |
| 4 |
Citigroup
C
|
+$58.3M |
| 5 |
Wells Fargo
WFC
|
+$33.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$227M |
| 2 |
Johnson & Johnson
JNJ
|
+$198M |
| 3 |
Coca-Cola
KO
|
+$184M |
| 4 |
PepsiCo
PEP
|
+$179M |
| 5 |
McDonald's
MCD
|
+$141M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.91% |
| 2 | Healthcare | 19.75% |
| 3 | Financials | 10.48% |
| 4 | Consumer Discretionary | 9.62% |
| 5 | Communication Services | 3.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
AutoZone
AZO
$51.1B
| $13.7M | 0.07% |
5,567
-2,777
| -33% | -$6.71M |
|
|
LSI
202
DELISTED
Life Storage, Inc.
LSI
| $13.7M | 0.07% |
139,290
-7,108
| -5% | -$745K |
|
203
Aflac
AFL
$63.4B
| $13.4M | 0.07% |
185,804
-25,223
| -12% | -$1.69M |
|
204
Xcel Energy
XEL
$48.8B
| $13.3M | 0.07% |
189,343
+89,567
| +90% | +$5.96M |
|
205
Universal Health Services
UHS
$10.5B
| $13.2M | 0.07% |
93,511
-45,948
| -33% | -$5.42M |
|
206
Cohen & Steers
CNS
$4.3B
| $13M | 0.07% |
202,066
-22,671
| -10% | -$1.42M |
|
|
WCN
207
Waste Connections
WCN
$42B
| $13M | 0.07% |
98,337
+35,721
| +57% | +$4.86M |
|
208
Lufax Holding
LU
$1.3B
| $13M | 0.07% |
1,676,565
-646,797
| -28% | -$4.93M |
|
209
Texas Roadhouse
TXRH
$13.7B
| $12.9M | 0.07% |
141,909
-45,268
| -24% | -$4.35M |
|
210
Flowers Foods
FLO
$1.57B
| $12.9M | 0.07% |
447,390
+173,266
| +63% | +$4.87M |
|
211
Sprouts Farmers Market
SFM
$8.01B
| $12.8M | 0.07% |
394,938
-57,354
| -13% | -$1.79M |
|
|
B
212
Barrick Mining
B
$73.2B
| $12.8M | 0.07% |
744,282
+327,520
| +79% | +$5.21M |
|
213
Allstate
ALL
$67.5B
| $12.6M | 0.07% |
92,850
+55,495
| +149% | +$7.26M |
|
214
Accenture
ACN
$108B
| $12.5M | 0.07% |
46,713
-67,098
| -59% | -$18.6M |
|
215
WEC Energy
WEC
$35.1B
| $12.5M | 0.07% |
132,896
+83,576
| +169% | +$7.72M |
|
216
Centene
CNC
$32.5B
| $12.3M | 0.07% |
150,049
-12,249
| -8% | -$1M |
|
217
Nutrien
NTR
$30.7B
| $12.3M | 0.07% |
168,086
+6,465
| +4% | +$511K |
|
218
Verisk Analytics
VRSK
$25B
| $12.2M | 0.07% |
68,928
+4,493
| +7% | +$789K |
|
219
The Mosaic Company
MOS
$7.33B
| $12.1M | 0.07% |
276,153
-185,003
| -40% | -$9.16M |
|
220
Grand Canyon Education
LOPE
$3.98B
| $12M | 0.07% |
113,600
-67,764
| -37% | -$6.76M |
|
221
Amdocs
DOX
$6.22B
| $12M | 0.07% |
131,510
-13,481
| -9% | -$1.15M |
|
222
Willis Towers Watson
WTW
$32B
| $11.9M | 0.07% |
48,732
-14,546
| -23% | -$3.32M |
|
223
State Street
STT
$50.7B
| $11.9M | 0.07% |
153,511
+49,565
| +48% | +$3.65M |
|
224
Ameriprise Financial
AMP
$48.8B
| $11.9M | 0.06% |
38,076
-39,934
| -51% | -$12.2M |
|
225
Expedia Group
EXPE
$37.3B
| $11.8M | 0.06% |
134,549
-17,389
| -11% | -$1.64M |
|
Similar funds
Ray Dalio's Q4 2022 Portfolio in Review
As of Q4 2022, Ray Dalio held 953 positions worth $18.3B, down 7.3% from $19.8B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Ray Dalio withdrew a net $3.25B in Q4 2022, closing 133 positions and reducing 457 holdings. Its most notable exit was Advanced Micro Devices, an estimated $45.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, down from 30% a quarter earlier, followed by Healthcare and Financials.
Against the trend, Ray Dalio opened a new position in JPMorgan Chase worth $92.8M.
- Ray Dalio's largest Q4 2022 buy was JPMorgan Chase: 692,356 shares worth $92.8M.
- Ray Dalio added most to iShares Core S&P 500 ETF in Q4 2022, an estimated $118M increase.
- Ray Dalio's biggest Q4 2022 reduction was Procter & Gamble, cutting an estimated $227M.
- Ray Dalio fully exited Advanced Micro Devices in Q4 2022, selling an estimated $45.8M.
- Ray Dalio's ten largest holdings make up 32% of its $18.3B portfolio in Q4 2022.
- Ray Dalio opened 87 new positions and closed 133 in Q4 2022.
- Ray Dalio's portfolio value fell 7.3% quarter-over-quarter to $18.3B.
Based on Bridgewater Associates's 13F filing for Q4 2022, filed 13 Feb 2023.