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 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$224M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$174M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$55.6M |
| 4 |
VMW
VMware, Inc
VMW
|
+$29.1M |
| 5 |
Macy's
M
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$25.7M |
| 2 |
MON
Monsanto Co
MON
|
+$24.9M |
| 3 |
Gen Digital
GEN
|
+$24.8M |
| 4 |
Coca-Cola
KO
|
+$22.6M |
| 5 |
Applied Materials
AMAT
|
+$21.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.12% |
| 2 | Consumer Discretionary | 3.36% |
| 3 | Energy | 2.88% |
| 4 | Communication Services | 2.3% |
| 5 | Materials | 2.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Vanguard FTSE Emerging Markets ETF
VWO
$124B
| $2.42B | 31.35% |
73,860,646
+6,498,476
| +10% | +$224M |
|
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$823B
| $2.14B | 27.79% |
10,507,600
+270,700
| +3% | +$55.6M |
|
|
3
iShares MSCI Emerging Markets ETF
EEM
$29.5B
| $1.34B | 17.36% |
41,571,033
+5,062,100
| +14% | +$174M |
|
4
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33B
| $96.2M | 1.25% |
844,155
+14,300
| +2% | +$1.65M |
|
5
iShares Core S&P 500 ETF
IVV
$902B
| $35.9M | 0.47% |
175,000
| – | – |
|
6
Apple
AAPL
$4.57T
| $34.5M | 0.45% |
1,309,808
+210,400
| +19% | +$6.01M |
|
|
BBBY
7
DELISTED
Bed Bath & Beyond Inc
BBBY
| $31.2M | 0.41% |
647,054
+316,980
| +96% | +$17.6M |
|
8
Microsoft
MSFT
$3.71T
| $29.8M | 0.39% |
538,008
+67,000
| +14% | +$3.53M |
|
9
BCE
BCE
$21.2B
| $29.7M | 0.39% |
772,300
+372,900
| +93% | +$15.7M |
|
|
VMW
10
DELISTED
VMware, Inc
VMW
| $29.3M | 0.38% |
517,061
+467,935
| +953% | +$29.1M |
|
11
PepsiCo
PEP
$190B
| $28.2M | 0.37% |
282,641
-7,762
| -3% | -$774K |
|
|
VIAB
12
DELISTED
Viacom Inc. Class B
VIAB
| $27.3M | 0.35% |
664,091
+98,846
| +17% | +$4.64M |
|
|
13
Macy's
M
$6.68B
| $27M | 0.35% |
771,186
+583,215
| +310% | +$25.3M |
|
14
Gilead Sciences
GILD
$165B
| $22.1M | 0.29% |
218,121
-4,000
| -2% | -$416K |
|
15
NetApp
NTAP
$37.2B
| $21.8M | 0.28% |
819,846
+370,273
| +82% | +$11.6M |
|
16
Exelon
EXC
$47B
| $21.6M | 0.28% |
1,091,545
+154,468
| +16% | +$3.13M |
|
17
Oracle
ORCL
$423B
| $20.3M | 0.26% |
555,928
+131,300
| +31% | +$5.01M |
|
18
Verizon
VZ
$196B
| $19.6M | 0.25% |
423,665
-155,000
| -27% | -$7.04M |
|
19
Analog Devices
ADI
$190B
| $19.1M | 0.25% |
344,429
+230,637
| +203% | +$13.6M |
|
20
Lumen
LUMN
$6.44B
| $19.1M | 0.25% |
757,250
-579,724
| -43% | -$15.5M |
|
|
SPLS
21
DELISTED
Staples Inc
SPLS
| $18.5M | 0.24% |
1,950,540
+1,103,405
| +130% | +$12.9M |
|
|
ESV
22
DELISTED
Ensco Rowan plc
ESV
| $17.7M | 0.23% |
286,901
-264,715
| -48% | -$17.3M |
|
23
Marriott International
MAR
$92.3B
| $17.6M | 0.23% |
263,276
+209,623
| +391% | +$15.2M |
|
|
SE
24
DELISTED
Spectra Energy Corp Wi
SE
| $17.4M | 0.23% |
727,986
+184,708
| +34% | +$4.91M |
|
25
Newmont
NEM
$119B
| $17.2M | 0.22% |
957,569
+332,295
| +53% | +$6.11M |
|
Similar funds
Ray Dalio's Q4 2015 Portfolio in Review
As of Q4 2015, Ray Dalio held 477 positions worth $7.71B, up 3.2% from $7.47B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Ray Dalio's Q4 2015 filing shows 47 new, 99 increased, 116 reduced and 214 closed positions. Its largest new stake was HF Sinclair: 317,080 shares worth $12.6M. The largest sale was Alphabet (Google) Class C, an estimated $25.7M.
By sector, the portfolio is most concentrated in Technology at 4.1% of assets, down from 4.2% a quarter earlier, followed by Consumer Discretionary and Energy.
- Ray Dalio's largest Q4 2015 buy was HF Sinclair: 317,080 shares worth $12.6M.
- Ray Dalio added most to Vanguard FTSE Emerging Markets ETF in Q4 2015, an estimated $224M increase.
- Ray Dalio's biggest Q4 2015 reduction was Gen Digital, cutting an estimated $24.8M.
- Ray Dalio fully exited Alphabet (Google) Class C in Q4 2015, selling an estimated $25.7M.
- Ray Dalio's ten largest holdings make up 80% of its $7.71B portfolio in Q4 2015.
- Ray Dalio opened 47 new positions and closed 214 in Q4 2015.
- Ray Dalio's portfolio value rose 3.2% quarter-over-quarter to $7.71B.
Based on Bridgewater Associates's 13F filing for Q4 2015, filed 11 Feb 2016.