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
|
+$236M |
| 2 |
CVS Health
CVS
|
+$189M |
| 3 |
Mastercard
MA
|
+$155M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$112M |
| 5 |
Meta Platforms (Facebook)
META
|
+$111M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$814M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$763M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$315M |
| 4 |
SPDR Gold Trust
GLD
|
+$140M |
| 5 |
JD.com
JD
|
+$124M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 25.96% |
| 2 | Healthcare | 19.04% |
| 3 | Miscellaneous | 15.01% |
| 4 | Consumer Discretionary | 12.6% |
| 5 | Financials | 7.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Procter & Gamble
PG
$383B
| $970M | 4.11% |
6,747,168
-76,443
| -1% | -$11.5M |
2020 Q3
7 quarters
|
|
2
Johnson & Johnson
JNJ
$665B
| $769M | 3.26% |
4,332,633
-12,369
| -0.3% | -$2.2M |
2020 Q3
7 quarters
|
|
3
iShares Core MSCI Emerging Markets ETF
IEMG
$142B
| $751M | 3.18% |
15,308,412
-652,408
| -4% | -$33.7M |
2016 Q3
23 quarters
|
|
4
State Street SPDR S&P 500 ETF Trust
SPY
$780B
| $695M | 2.95% |
1,843,262
-39,972
| -2% | -$16.4M |
2013 Q2
36 quarters
|
|
5
Coca-Cola
KO
$412B
| $681M | 2.88% |
10,820,759
-1,117,062
| -9% | -$70.8M |
2020 Q3
7 quarters
|
|
|
6
iShares Core S&P 500 ETF
IVV
$853B
| $644M | 2.73% |
1,697,801
+574,534
| +51% | +$236M |
2013 Q2
36 quarters
|
|
|
7
Vanguard FTSE Emerging Markets ETF
VWO
$117B
| $643M | 2.72% |
15,432,241
-7,285,717
| -32% | -$315M |
2013 Q2
36 quarters
|
|
8
PepsiCo
PEP
$193B
| $635M | 2.69% |
3,808,959
-362,309
| -9% | -$61M |
2020 Q3
7 quarters
|
|
9
Costco
COST
$467B
| $580M | 2.46% |
1,211,098
+23,331
| +2% | +$11.8M |
2020 Q1
9 quarters
|
|
10
Walmart Inc
WMT
$996B
| $571M | 2.42% |
14,093,103
+1,996,986
| +17% | +$92.1M |
2020 Q3
7 quarters
|
|
11
McDonald's
MCD
$196B
| $511M | 2.17% |
2,071,584
-237,719
| -10% | -$58.5M |
2020 Q3
7 quarters
|
|
12
Abbott
ABT
$190B
| $304M | 1.29% |
2,799,913
-245,517
| -8% | -$27.9M |
2020 Q3
7 quarters
|
|
13
Pinduoduo
PDD
$118B
| $298M | 1.26% |
4,814,632
-124,780
| -3% | -$5.85M |
2019 Q2
12 quarters
|
|
|
14
CVS Health
CVS
$107B
| $292M | 1.24% |
3,146,236
+1,935,319
| +160% | +$189M |
2020 Q1
9 quarters
|
|
15
Starbucks
SBUX
$120B
| $248M | 1.05% |
3,242,719
-56,537
| -2% | -$4.34M |
2020 Q1
9 quarters
|
|
16
Medtronic
MDT
$130B
| $225M | 0.95% |
2,505,256
+625,168
| +33% | +$63.3M |
2022 Q1
1 quarter
|
|
17
Target
TGT
$72B
| $220M | 0.93% |
1,560,200
+237,082
| +18% | +$45.5M |
2020 Q1
9 quarters
|
|
|
18
SPDR Gold Trust
GLD
$136B
| $220M | 0.93% |
1,306,455
-801,541
| -38% | -$140M |
2017 Q2
20 quarters
|
|
19
Colgate-Palmolive
CL
$76.8B
| $184M | 0.78% |
2,290,197
-337,239
| -13% | -$26.4M |
2020 Q3
7 quarters
|
|
20
Baidu
BIDU
$27.9B
| $170M | 0.72% |
1,143,844
+17,371
| +2% | +$2.3M |
2018 Q2
16 quarters
|
|
21
ExxonMobil
XOM
$677B
| $163M | 0.69% |
1,908,930
+761,933
| +66% | +$68.7M |
2021 Q4
2 quarters
|
|
22
Pfizer
PFE
$168B
| $158M | 0.67% |
3,017,675
-296,380
| -9% | -$15.1M |
2021 Q1
5 quarters
|
|
23
Berkshire Hathaway Class B
BRK.B
$1.22T
| $156M | 0.66% |
571,762
+270,057
| +90% | +$84.7M |
2022 Q1
1 quarter
|
|
24
Estee Lauder
EL
$39.9B
| $156M | 0.66% |
612,560
-112,328
| -15% | -$28.5M |
2020 Q3
7 quarters
|
|
25
Dollar General
DG
$29.5B
| $155M | 0.66% |
630,950
+11,293
| +2% | +$2.64M |
2020 Q1
9 quarters
|
|
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Ray Dalio's Q2 2022 Portfolio in Review
As of Q2 2022, Ray Dalio held 1,084 positions worth $23.6B, down 4.9% from $24.8B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Ray Dalio deployed $1.38B of net new capital in Q2 2022, opening 116 new positions and adding to 613 existing holdings. Its largest new stake was Sea Limited: 459,240 shares worth $30.7M.
By sector, the portfolio is most concentrated in Consumer Staples at 26% of assets, up from 26% a quarter earlier, followed by Healthcare and Miscellaneous.
On the sell side, the largest reduction was iShares MSCI Emerging Markets ETF, an estimated $763M trimmed.
- Ray Dalio's largest Q2 2022 buy was Sea Limited: 459,240 shares worth $30.7M.
- Ray Dalio added most to iShares Core S&P 500 ETF in Q2 2022, an estimated $236M increase.
- Ray Dalio's biggest Q2 2022 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $763M.
- Ray Dalio fully exited Alibaba in Q2 2022, selling an estimated $814M.
- Ray Dalio's ten largest holdings make up 29% of its $23.6B portfolio in Q2 2022.
- Ray Dalio opened 116 new positions and closed 99 in Q2 2022.
- Ray Dalio's portfolio value fell 4.9% quarter-over-quarter to $23.6B.
Based on Bridgewater Associates's 13F filing for Q2 2022, filed 11 Aug 2022.