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 |
Gen Digital
GEN
|
+$26M |
| 2 |
Eastman Chemical
EMN
|
+$24.8M |
| 3 |
The Mosaic Company
MOS
|
+$24.7M |
| 4 |
Kohl's
KSS
|
+$24.3M |
| 5 |
ESV
Ensco Rowan plc
ESV
|
+$23.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.65B |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$906M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$46.7M |
| 4 |
Apple
AAPL
|
+$30.1M |
| 5 |
Chipotle Mexican Grill
CMG
|
+$17.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.22% |
| 2 | Materials | 3.47% |
| 3 | Consumer Discretionary | 3.19% |
| 4 | Energy | 2.92% |
| 5 | Communication Services | 2.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Vanguard FTSE Emerging Markets ETF
VWO
$124B
| $2.23B | 29.84% |
67,362,170
-45,423,479
| -40% | -$1.65B |
|
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$823B
| $1.96B | 26.26% |
10,236,900
-230,300
| -2% | -$46.7M |
|
|
3
iShares MSCI Emerging Markets ETF
EEM
$29.5B
| $1.2B | 16.02% |
36,508,933
-25,650,268
| -41% | -$906M |
|
4
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33B
| $96.3M | 1.29% |
829,855
+600
| +0.1% | +$69.4K |
|
5
iShares Core S&P 500 ETF
IVV
$902B
| $33.7M | 0.45% |
175,000
| – | – |
|
6
Lumen
LUMN
$6.44B
| $33.6M | 0.45% |
1,336,974
+651,463
| +95% | +$18M |
|
7
Coca-Cola
KO
$375B
| $33.3M | 0.45% |
830,374
+97,500
| +13% | +$3.9M |
|
|
ESV
8
DELISTED
Ensco Rowan plc
ESV
| $31.1M | 0.42% |
551,616
+340,279
| +161% | +$23.4M |
|
|
9
Apple
AAPL
$4.57T
| $30.3M | 0.41% |
1,099,408
-1,026,580
| -48% | -$30.1M |
|
10
PepsiCo
PEP
$190B
| $27.4M | 0.37% |
290,403
+229,194
| +374% | +$21.8M |
|
11
Alphabet (Google) Class C
GOOG
$4.32T
| $25.7M | 0.34% |
804,520
+380,720
| +90% | +$11.7M |
|
12
Verizon
VZ
$196B
| $25.2M | 0.34% |
578,665
+288,000
| +99% | +$13.3M |
|
|
13
Gen Digital
GEN
$17.5B
| $25M | 0.34% |
1,286,416
+1,208,380
| +1,548% | +$26M |
|
|
MON
14
DELISTED
Monsanto Co
MON
| $24.9M | 0.33% |
292,299
+67,900
| +30% | +$6.71M |
|
|
15
Eastman Chemical
EMN
$8.42B
| $24.7M | 0.33% |
381,038
+335,500
| +737% | +$24.8M |
|
|
VIAB
16
DELISTED
Viacom Inc. Class B
VIAB
| $24.4M | 0.33% |
565,245
+403,621
| +250% | +$20M |
|
|
17
Kohl's
KSS
$2.19B
| $23.7M | 0.32% |
511,367
+431,500
| +540% | +$24.3M |
|
|
NE
18
DELISTED
Noble Corporation
NE
| $22.6M | 0.3% |
2,074,855
+1,260,653
| +155% | +$15.9M |
|
|
19
The Mosaic Company
MOS
$7.33B
| $22.5M | 0.3% |
724,600
+598,000
| +472% | +$24.7M |
|
20
International Paper
IP
$22B
| $22M | 0.29% |
614,749
+426,471
| +227% | +$18.1M |
|
21
Gilead Sciences
GILD
$165B
| $21.8M | 0.29% |
222,121
+140,400
| +172% | +$15.6M |
|
22
Applied Materials
AMAT
$428B
| $21.7M | 0.29% |
1,479,057
+966,506
| +189% | +$16.1M |
|
23
Microsoft
MSFT
$3.71T
| $20.8M | 0.28% |
471,008
+398,643
| +551% | +$17.9M |
|
24
RTX Corp
RTX
$301B
| $19.9M | 0.27% |
355,791
+321,454
| +936% | +$19.8M |
|
25
Exelon
EXC
$47B
| $19.9M | 0.27% |
937,077
+918,887
| +5,052% | +$20.7M |
|
Similar funds
Ray Dalio's Q3 2015 Portfolio in Review
As of Q3 2015, Ray Dalio held 516 positions worth $7.47B, down 31% from $10.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Ray Dalio withdrew a net $1.81B in Q3 2015, closing 86 positions and reducing 67 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 4.2% of assets, up from 2.2% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Wynn Resorts worth $12.7M.
- Ray Dalio's largest Q3 2015 buy was Wynn Resorts: 239,500 shares worth $12.7M.
- Ray Dalio added most to Gen Digital in Q3 2015, an estimated $26M increase.
- Ray Dalio's biggest Q3 2015 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $1.65B.
- Ray Dalio fully exited Chipotle Mexican Grill in Q3 2015, selling an estimated $17.4M.
- Ray Dalio's ten largest holdings make up 76% of its $7.47B portfolio in Q3 2015.
- Ray Dalio opened 210 new positions and closed 86 in Q3 2015.
- Ray Dalio's portfolio value fell 31% quarter-over-quarter to $7.47B.
Based on Bridgewater Associates's 13F filing for Q3 2015, filed 12 Nov 2015.