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 MSCI Emerging Markets ETF
EEM
|
+$253M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$149M |
| 3 |
Apple
AAPL
|
+$22.9M |
| 4 |
GE Aerospace
GE
|
+$22.3M |
| 5 |
JNPR
Juniper Networks
JNPR
|
+$20.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gen Digital
GEN
|
+$22.1M |
| 2 |
Johnson & Johnson
JNJ
|
+$19.9M |
| 3 |
Cisco
CSCO
|
+$14M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$11.7M |
| 5 |
CELG
Celgene Corp
CELG
|
+$9.94M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.04% |
| 2 | Energy | 2.47% |
| 3 | Materials | 1.34% |
| 4 | Industrials | 0.97% |
| 5 | Consumer Discretionary | 0.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Vanguard FTSE Emerging Markets ETF
VWO
$124B
| $4.7B | 35.24% |
109,019,733
+3,534,896
| +3% | +$149M |
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$823B
| $3.74B | 28.04% |
19,115,300
| – | – |
|
|
3
iShares MSCI Emerging Markets ETF
EEM
$29.5B
| $3.27B | 24.48% |
75,559,118
+5,962,753
| +9% | +$253M |
|
|
4
Apple
AAPL
$4.57T
| $53.2M | 0.4% |
2,288,788
+1,077,200
| +89% | +$22.9M |
|
5
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33B
| $50.7M | 0.38% |
424,755
+26,300
| +7% | +$3.11M |
|
6
IBM
IBM
$224B
| $38M | 0.28% |
219,158
+77,927
| +55% | +$14M |
|
7
Intel
INTC
$513B
| $34.9M | 0.26% |
1,128,253
+366,900
| +48% | +$10.1M |
|
8
iShares Core S&P 500 ETF
IVV
$902B
| $34.5M | 0.26% |
175,000
| – | – |
|
9
Microsoft
MSFT
$3.71T
| $32.6M | 0.24% |
781,945
-110,700
| -12% | -$4.48M |
|
10
Gilead Sciences
GILD
$165B
| $29M | 0.22% |
349,821
+102,100
| +41% | +$7.95M |
|
|
JNPR
11
DELISTED
Juniper Networks
JNPR
| $28.5M | 0.21% |
1,160,082
+812,500
| +234% | +$20.2M |
|
12
Suncor Energy
SU
$70.3B
| $25.3M | 0.19% |
591,600
+128,500
| +28% | +$5.01M |
|
|
13
GE Aerospace
GE
$384B
| $24.7M | 0.19% |
196,372
+175,130
| +824% | +$22.3M |
|
14
Verizon
VZ
$196B
| $23.5M | 0.18% |
481,265
-139,200
| -22% | -$6.74M |
|
15
Micron Technology
MU
$991B
| $22.6M | 0.17% |
686,474
+263,100
| +62% | +$7.17M |
|
16
Oracle
ORCL
$423B
| $20.9M | 0.16% |
515,982
-49,300
| -9% | -$2.03M |
|
17
Canadian Natural Resources
CNQ
$94.9B
| $19.8M | 0.15% |
890,302
+189,065
| +27% | +$3.78M |
|
18
EOG Resources
EOG
$70.7B
| $19.5M | 0.15% |
166,938
+11,000
| +7% | +$1.16M |
|
|
WFM
19
DELISTED
Whole Foods Market Inc
WFM
| $18.5M | 0.14% |
478,412
+307,466
| +180% | +$13.4M |
|
20
Imperial Oil
IMO
$60.4B
| $17.9M | 0.13% |
338,900
+81,800
| +32% | +$4.03M |
|
21
ExxonMobil
XOM
$634B
| $17.4M | 0.13% |
173,171
+50,171
| +41% | +$5.06M |
|
22
Ventas
VTR
$47.9B
| $16.9M | 0.13% |
230,645
-22,735
| -9% | -$1.69M |
|
23
Occidental Petroleum
OXY
$55.9B
| $16.7M | 0.13% |
170,135
+4,488
| +3% | +$422K |
|
24
Texas Instruments
TXN
$261B
| $16.5M | 0.12% |
345,026
+186,168
| +117% | +$8.69M |
|
25
ConocoPhillips
COP
$141B
| $15.5M | 0.12% |
180,300
+6,500
| +4% | +$506K |
|
Similar funds
Ray Dalio's Q2 2014 Portfolio in Review
As of Q2 2014, Ray Dalio held 404 positions worth $13.3B, up 9.2% from $12.2B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Ray Dalio deployed $438M of net new capital in Q2 2014, opening 65 new positions and adding to 128 existing holdings. Its largest new stake was Bed Bath & Beyond Inc: 255,200 shares worth $14.6M.
By sector, the portfolio is most concentrated in Technology at 3% of assets, up from 2.6% a quarter earlier, followed by Energy and Materials.
On the sell side, the largest reduction was Gen Digital, an estimated $22.1M trimmed.
- Ray Dalio's largest Q2 2014 buy was Bed Bath & Beyond Inc: 255,200 shares worth $14.6M.
- Ray Dalio added most to iShares MSCI Emerging Markets ETF in Q2 2014, an estimated $253M increase.
- Ray Dalio's biggest Q2 2014 reduction was Gen Digital, cutting an estimated $22.1M.
- Ray Dalio fully exited Berkshire Hathaway Class B in Q2 2014, selling an estimated $11.7M.
- Ray Dalio's ten largest holdings make up 90% of its $13.3B portfolio in Q2 2014.
- Ray Dalio opened 65 new positions and closed 101 in Q2 2014.
- Ray Dalio's portfolio value rose 9.2% quarter-over-quarter to $13.3B.
Based on Bridgewater Associates's 13F filing for Q2 2014, filed 12 Aug 2014.