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 |
Walmart Inc
WMT
|
+$228M |
| 2 |
Procter & Gamble
PG
|
+$208M |
| 3 |
Johnson & Johnson
JNJ
|
+$184M |
| 4 |
Coca-Cola
KO
|
+$140M |
| 5 |
PepsiCo
PEP
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$485M |
| 2 |
Mondelez International
MDLZ
|
+$107M |
| 3 |
General Mills
GIS
|
+$40.7M |
| 4 |
Archer Daniels Midland
ADM
|
+$40.5M |
| 5 |
Walgreens Boots Alliance
WBA
|
+$40.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 28.39% |
| 2 | Miscellaneous | 21.2% |
| 3 | Healthcare | 17.71% |
| 4 | Consumer Discretionary | 15% |
| 5 | Financials | 5.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $845M | 5.42% |
1,975,061
-1,163,138
| -37% | -$485M |
2013 Q2
32 quarters
|
|
|
2
Walmart Inc
WMT
$1.02T
| $736M | 4.72% |
15,667,728
+4,894,908
| +45% | +$228M |
2020 Q3
3 quarters
|
|
3
Vanguard FTSE Emerging Markets ETF
VWO
$119B
| $645M | 4.14% |
11,873,186
+783,391
| +7% | +$41.7M |
2013 Q2
32 quarters
|
|
|
4
Procter & Gamble
PG
$394B
| $641M | 4.11% |
4,753,187
+1,534,557
| +48% | +$208M |
2020 Q3
3 quarters
|
|
|
5
Johnson & Johnson
JNJ
$688B
| $465M | 2.98% |
2,823,106
+1,113,211
| +65% | +$184M |
2020 Q3
3 quarters
|
|
|
6
Coca-Cola
KO
$427B
| $445M | 2.86% |
8,232,188
+2,565,360
| +45% | +$140M |
2020 Q3
3 quarters
|
|
|
7
PepsiCo
PEP
$198B
| $395M | 2.54% |
2,669,091
+880,614
| +49% | +$128M |
2020 Q3
3 quarters
|
|
8
Costco
COST
$490B
| $334M | 2.14% |
843,268
+280,289
| +50% | +$106M |
2020 Q1
5 quarters
|
|
9
McDonald's
MCD
$192B
| $323M | 2.07% |
1,396,667
+456,274
| +49% | +$106M |
2020 Q3
3 quarters
|
|
10
Alibaba
BABA
$235B
| $322M | 2.06% |
1,419,060
+16,340
| +1% | +$3.63M |
2018 Q2
12 quarters
|
|
11
iShares Core MSCI Emerging Markets ETF
IEMG
$146B
| $284M | 1.82% |
4,239,575
+471,236
| +13% | +$31M |
2016 Q3
19 quarters
|
|
12
iShares Core S&P 500 ETF
IVV
$875B
| $278M | 1.78% |
645,574
+221,073
| +52% | +$92.6M |
2013 Q2
32 quarters
|
|
13
SPDR Gold Trust
GLD
$130B
| $268M | 1.72% |
1,616,628
-115,769
| -7% | -$19.7M |
2017 Q2
16 quarters
|
|
14
Starbucks
SBUX
$121B
| $234M | 1.5% |
2,093,483
+693,502
| +50% | +$78.4M |
2020 Q1
5 quarters
|
|
15
Danaher
DHR
$164B
| $230M | 1.48% |
967,692
+468,078
| +94% | +$104M |
2020 Q3
3 quarters
|
|
16
Estee Lauder
EL
$40.5B
| $218M | 1.4% |
686,222
+215,993
| +46% | +$65.5M |
2020 Q3
3 quarters
|
|
17
Target
TGT
$73.3B
| $216M | 1.39% |
894,649
+323,117
| +57% | +$70.7M |
2020 Q1
5 quarters
|
|
18
Abbott
ABT
$188B
| $208M | 1.34% |
1,796,830
+708,381
| +65% | +$82.6M |
2020 Q3
3 quarters
|
|
19
iShares China Large-Cap ETF
FXI
$3.84B
| $171M | 1.1% |
3,699,732
-89,408
| -2% | -$4.13M |
2019 Q2
8 quarters
|
|
20
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.2B
| $144M | 0.93% |
1,074,865
-22,514
| -2% | -$2.97M |
2013 Q2
32 quarters
|
|
21
iShares MSCI China ETF
MCHI
$5.56B
| $143M | 0.92% |
1,735,524
-50,915
| -3% | -$4.15M |
2019 Q2
8 quarters
|
|
22
iShares Gold Trust
IAU
$57.5B
| $142M | 0.91% |
4,211,187
-209,289
| -5% | -$7.23M |
2017 Q2
16 quarters
|
|
23
Pinduoduo
PDD
$112B
| $142M | 0.91% |
1,117,418
+1,437
| +0.1% | +$187K |
2019 Q2
8 quarters
|
|
24
Colgate-Palmolive
CL
$79.2B
| $136M | 0.87% |
1,674,026
+559,857
| +50% | +$45.8M |
2020 Q3
3 quarters
|
|
25
iShares MSCI Emerging Markets ETF
EEM
$28.2B
| $120M | 0.77% |
2,182,509
+1,764,000
| +421% | +$95.8M |
2013 Q2
32 quarters
|
|
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Ray Dalio's Q2 2021 Portfolio in Review
As of Q2 2021, Ray Dalio held 784 positions worth $15.6B, up 37% from $11.3B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Ray Dalio deployed $3.72B of net new capital in Q2 2021, opening 329 new positions and adding to 255 existing holdings. Its largest new stake was Linde: 103,503 shares worth $29.9M.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 28% a quarter earlier, followed by Miscellaneous and Healthcare.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $485M trimmed.
- Ray Dalio's largest Q2 2021 buy was Linde: 103,503 shares worth $29.9M.
- Ray Dalio added most to Walmart Inc in Q2 2021, an estimated $228M increase.
- Ray Dalio's biggest Q2 2021 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $485M.
- Ray Dalio fully exited Mondelez International in Q2 2021, selling an estimated $107M.
- Ray Dalio's ten largest holdings make up 33% of its $15.6B portfolio in Q2 2021.
- Ray Dalio opened 329 new positions and closed 80 in Q2 2021.
- Ray Dalio's portfolio value rose 37% quarter-over-quarter to $15.6B.
Based on Bridgewater Associates's 13F filing for Q2 2021, filed 13 Aug 2021.