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 |
Amazon
AMZN
|
+$293M |
| 2 |
Microsoft
MSFT
|
+$216M |
| 3 |
ExxonMobil
XOM
|
+$92M |
| 4 |
Cameco
CCJ
|
+$87.2M |
| 5 |
Advanced Micro Devices
AMD
|
+$67.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$256M |
| 2 |
Eli Lilly
LLY
|
+$148M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$140M |
| 4 |
Comcast
CMCSA
|
+$88.8M |
| 5 |
Procter & Gamble
PG
|
+$83.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 18.04% |
| 2 | Miscellaneous | 17.3% |
| 3 | Healthcare | 14.75% |
| 4 | Technology | 14.42% |
| 5 | Consumer Discretionary | 12.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
iShares Core S&P 500 ETF
IVV
$878B
| $1.15B | 6% |
2,101,534
+4,562
| +0.2% | +$2.4M |
2013 Q2
44 quarters
|
|
2
iShares Core MSCI Emerging Markets ETF
IEMG
$146B
| $999M | 5.22% |
18,662,013
-1,457
| -0% | -$76.8K |
2016 Q3
31 quarters
|
|
|
3
Alphabet (Google) Class A
GOOGL
$3.67T
| $827M | 4.32% |
4,540,271
-828,582
| -15% | -$140M |
2020 Q4
14 quarters
|
|
4
NVIDIA
NVDA
$4.01T
| $810M | 4.23% |
6,556,193
-489,797
| -7% | -$49.5M |
2023 Q3
3 quarters
|
|
|
5
Procter & Gamble
PG
$389B
| $593M | 3.1% |
3,595,067
-511,662
| -12% | -$83.6M |
2020 Q3
15 quarters
|
|
|
6
Amazon
AMZN
$2.89T
| $511M | 2.67% |
2,645,567
+1,597,676
| +152% | +$293M |
2024 Q1
1 quarter
|
|
|
7
Microsoft
MSFT
$3.88T
| $487M | 2.54% |
1,090,347
+510,822
| +88% | +$216M |
2020 Q4
14 quarters
|
|
8
Meta Platforms (Facebook)
META
$1.59T
| $485M | 2.53% |
962,410
-31,641
| -3% | -$15.4M |
2020 Q4
14 quarters
|
|
9
Johnson & Johnson
JNJ
$683B
| $468M | 2.45% |
3,204,305
+361,072
| +13% | +$53.7M |
2020 Q3
15 quarters
|
|
10
Walmart Inc
WMT
$1T
| $441M | 2.3% |
6,515,350
-370,742
| -5% | -$23.3M |
2020 Q3
15 quarters
|
|
11
State Street SPDR S&P 500 ETF Trust
SPY
$803B
| $388M | 2.02% |
712,193
-2,201
| -0.3% | -$1.15M |
2013 Q2
44 quarters
|
|
12
Costco
COST
$484B
| $375M | 1.96% |
440,819
-94,009
| -18% | -$73.4M |
2020 Q1
17 quarters
|
|
13
Coca-Cola
KO
$419B
| $328M | 1.71% |
5,146,875
-1,141,812
| -18% | -$70.7M |
2020 Q3
15 quarters
|
|
14
PepsiCo
PEP
$194B
| $308M | 1.61% |
1,865,172
-275,852
| -13% | -$47.6M |
2020 Q3
15 quarters
|
|
15
McDonald's
MCD
$193B
| $274M | 1.43% |
1,074,436
-143,603
| -12% | -$38.1M |
2020 Q3
15 quarters
|
|
16
Merck
MRK
$362B
| $223M | 1.16% |
1,801,991
-288,265
| -14% | -$37.1M |
2021 Q2
12 quarters
|
|
17
Visa
V
$784B
| $210M | 1.1% |
801,205
-143,859
| -15% | -$39.4M |
2021 Q1
13 quarters
|
|
18
Vanguard FTSE Emerging Markets ETF
VWO
$119B
| $182M | 0.95% |
4,156,473
-670,270
| -14% | -$28.9M |
2013 Q2
44 quarters
|
|
|
19
Advanced Micro Devices
AMD
$960B
| $178M | 0.93% |
1,099,785
+420,331
| +62% | +$67.6M |
2024 Q1
1 quarter
|
|
20
Abbott
ABT
$186B
| $173M | 0.91% |
1,668,469
-67,688
| -4% | -$7.18M |
2020 Q3
15 quarters
|
|
21
Pinduoduo
PDD
$110B
| $167M | 0.87% |
1,254,866
-289,631
| -19% | -$39.2M |
2019 Q2
20 quarters
|
|
22
Mastercard
MA
$569B
| $158M | 0.83% |
358,309
+9,601
| +3% | +$4.37M |
2022 Q1
9 quarters
|
|
23
McKesson
MCK
$124B
| $150M | 0.78% |
257,265
-54,189
| -17% | -$30.2M |
2020 Q1
17 quarters
|
|
24
iShares MBS ETF
MBB
$35.3B
| $134M | 0.7% |
1,454,200
-24,300
| -2% | -$2.21M |
2022 Q1
9 quarters
|
|
25
Chipotle Mexican Grill
CMG
$44.5B
| $131M | 0.68% |
2,090,450
-614,200
| -23% | -$38.2M |
2020 Q3
15 quarters
|
|
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Ray Dalio's Q2 2024 Portfolio in Review
As of Q2 2024, Ray Dalio held 959 positions worth $19.2B, down 3.1% from $19.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Ray Dalio withdrew a net $757M in Q2 2024, closing 82 positions and reducing 390 holdings. Its most notable exit was Marathon Oil Corporation, an estimated $28.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 18% of assets, down from 19% a quarter earlier, followed by Miscellaneous and Healthcare.
Against the trend, Ray Dalio opened a new position in Constellation Energy worth $38.9M.
- Ray Dalio's largest Q2 2024 buy was Constellation Energy: 194,333 shares worth $38.9M.
- Ray Dalio added most to Amazon in Q2 2024, an estimated $293M increase.
- Ray Dalio's biggest Q2 2024 reduction was Apple, cutting an estimated $256M.
- Ray Dalio fully exited Marathon Oil Corporation in Q2 2024, selling an estimated $28.8M.
- Ray Dalio's ten largest holdings make up 35% of its $19.2B portfolio in Q2 2024.
- Ray Dalio opened 282 new positions and closed 82 in Q2 2024.
- Ray Dalio's portfolio value fell 3.1% quarter-over-quarter to $19.2B.
Based on Bridgewater Associates's 13F filing for Q2 2024, filed 14 Aug 2024.