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 MSCI Emerging Markets ETF
IEMG
|
+$61.9M |
| 2 |
Coca-Cola
KO
|
+$46.9M |
| 3 |
Broadcom
AVGO
|
+$46.8M |
| 4 |
SLB Ltd
SLB
|
+$40.3M |
| 5 |
Netflix
NFLX
|
+$40.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$76.6M |
| 2 |
Johnson & Johnson
JNJ
|
+$75.4M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$49.3M |
| 4 |
Tradeweb Markets
TW
|
+$48M |
| 5 |
Visa
V
|
+$40.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 26.52% |
| 2 | Healthcare | 20.27% |
| 3 | Consumer Discretionary | 12.77% |
| 4 | Technology | 5.33% |
| 5 | Financials | 4.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares Core MSCI Emerging Markets ETF
IEMG
$156B
| $913M | 5.52% |
19,184,515
+1,251,567
| +7% | +$61.9M |
|
2
iShares Core S&P 500 ETF
IVV
$902B
| $878M | 5.31% |
2,044,552
+31,144
| +2% | +$13.9M |
|
3
Procter & Gamble
PG
$339B
| $700M | 4.23% |
4,800,842
+184,527
| +4% | +$28.2M |
|
|
4
Coca-Cola
KO
$375B
| $504M | 3.04% |
8,996,115
+781,225
| +10% | +$46.9M |
|
5
Costco
COST
$420B
| $468M | 2.83% |
828,184
+20,475
| +3% | +$11.3M |
|
6
PepsiCo
PEP
$190B
| $454M | 2.74% |
2,680,191
+113,625
| +4% | +$20.6M |
|
7
Walmart Inc
WMT
$890B
| $431M | 2.6% |
8,076,432
+387,624
| +5% | +$20.6M |
|
8
State Street SPDR S&P 500 ETF Trust
SPY
$823B
| $426M | 2.57% |
995,975
-39,807
| -4% | -$17.7M |
|
|
9
Johnson & Johnson
JNJ
$625B
| $424M | 2.56% |
2,724,355
-457,073
| -14% | -$75.4M |
|
10
McDonald's
MCD
$195B
| $390M | 2.36% |
1,482,008
+63,016
| +4% | +$18M |
|
11
Pinduoduo
PDD
$131B
| $266M | 1.61% |
2,708,921
-22,591
| -0.8% | -$1.95M |
|
|
12
Vanguard FTSE Emerging Markets ETF
VWO
$124B
| $234M | 1.42% |
5,971,774
-1,876,729
| -24% | -$76.6M |
|
13
Starbucks
SBUX
$120B
| $231M | 1.4% |
2,529,869
-187,090
| -7% | -$18.4M |
|
|
14
Alphabet (Google) Class A
GOOGL
$4.33T
| $207M | 1.25% |
1,578,932
-381,016
| -19% | -$49.3M |
|
15
CVS Health
CVS
$122B
| $202M | 1.22% |
2,890,081
+203,663
| +8% | +$14.4M |
|
16
Abbott
ABT
$187B
| $201M | 1.21% |
2,074,463
+251,477
| +14% | +$26.4M |
|
|
17
Visa
V
$677B
| $195M | 1.18% |
848,432
-169,161
| -17% | -$40.7M |
|
18
Meta Platforms (Facebook)
META
$1.51T
| $187M | 1.13% |
622,131
+84,494
| +16% | +$25.5M |
|
19
Mondelez International
MDLZ
$79.9B
| $171M | 1.03% |
2,457,757
+51,508
| +2% | +$3.71M |
|
20
Merck
MRK
$318B
| $167M | 1.01% |
1,623,248
+262,304
| +19% | +$28.3M |
|
21
Intuitive Surgical
ISRG
$134B
| $148M | 0.89% |
506,124
+95,974
| +23% | +$30M |
|
22
McKesson
MCK
$101B
| $143M | 0.86% |
328,712
+36,169
| +12% | +$15.2M |
|
23
Chipotle Mexican Grill
CMG
$41.5B
| $137M | 0.83% |
3,731,450
+373,150
| +11% | +$14.5M |
|
24
iShares MBS ETF
MBB
$39.1B
| $132M | 0.8% |
1,481,300
+27,100
| +2% | +$2.48M |
|
25
Colgate-Palmolive
CL
$74.4B
| $121M | 0.73% |
1,699,647
+60,019
| +4% | +$4.49M |
|
Similar funds
Ray Dalio's Q3 2023 Portfolio in Review
As of Q3 2023, Ray Dalio held 826 positions worth $16.5B, up 2.2% from $16.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Ray Dalio deployed $1.1B of net new capital in Q3 2023, opening 130 new positions and adding to 388 existing holdings. Its largest new stake was Broadcom: 540,410 shares worth $44.9M.
By sector, the portfolio is most concentrated in Consumer Staples at 27% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Vanguard FTSE Emerging Markets ETF, an estimated $76.6M trimmed.
- Ray Dalio's largest Q3 2023 buy was Broadcom: 540,410 shares worth $44.9M.
- Ray Dalio added most to iShares Core MSCI Emerging Markets ETF in Q3 2023, an estimated $61.9M increase.
- Ray Dalio's biggest Q3 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $76.6M.
- Ray Dalio fully exited Corteva in Q3 2023, selling an estimated $19M.
- Ray Dalio's ten largest holdings make up 34% of its $16.5B portfolio in Q3 2023.
- Ray Dalio opened 130 new positions and closed 86 in Q3 2023.
- Ray Dalio's portfolio value rose 2.2% quarter-over-quarter to $16.5B.
Based on Bridgewater Associates's 13F filing for Q3 2023, filed 13 Nov 2023.