Insights from Bridgewater Associates' Latest 13F Filing
Ray Dalio (Trades, Portfolio), the visionary founder of Bridgewater Associates, has once again made headlines with his firm's latest 13F filing for the third quarter of 2024. Known for his principled approach to investing and management, Dalio has built Bridgewater into a powerhouse that emphasizes radical truth and transparency. His strategies, deeply rooted in economic theories and principles, aim to capitalize on global macroeconomic trends across a diverse array of markets. This quarter's filing reveals significant adjustments in his portfolio, including new buys, increased stakes, and notably, substantial reductions in long-held stocks like Procter & Gamble Co.
Summary of New Buys
Ray Dalio (Trades, Portfolio)'s investment strategy this quarter included the addition of 79 new stocks to his portfolio. Noteworthy new positions include:
- Micron Technology Inc (MU, Financial), with 983,685 shares, making up 0.58% of the portfolio and valued at $102 million.
- Alibaba Group Holding Ltd (BABA, Financial), comprising 512,303 shares or approximately 0.31% of the portfolio, with a total value of $54.37 million.
- iShares MSCI Mexico ETF (EWW, Financial), with 958,294 shares, accounting for 0.29% of the portfolio and valued at $51.47 million.
Key Position Increases
Dalio also strategically increased his stakes in several key holdings:
- Lam Research Corp (LRCX, Financial) saw an addition of 209,537 shares, bringing the total to 2,760,520 shares. This adjustment represents a significant 315.02% increase in share count and a 0.97% impact on the current portfolio, valued at $225.28 million.
- Constellation Energy Corp (CEG, Financial), with an additional 573,523 shares, bringing the total to 767,856 shares. This adjustment represents a 295.12% increase in share count, valued at $199.66 million.
Summary of Sold Out Positions
In a notable shift, Ray Dalio (Trades, Portfolio) exited several positions entirely in the third quarter of 2024:
- The Walt Disney Co (DIS, Financial): All 195,086 shares were sold, impacting the portfolio by -0.1%.
- Thermo Fisher Scientific Inc (TMO, Financial): All 33,729 shares were liquidated, also causing a -0.1% impact on the portfolio.
Key Position Reductions
The most significant portfolio reductions this quarter include:
- Procter & Gamble Co (PG, Financial), where Dalio reduced his holdings by 1,993,699 shares, resulting in a -55.46% decrease in shares and a -1.72% impact on the portfolio. The stock traded at an average price of $169.76 during the quarter and has returned 0.25% over the past three months and 16.61% year-to-date.
- Johnson & Johnson (JNJ, Financial) saw a reduction of 1,734,184 shares, resulting in a -54.12% reduction in shares and a -1.33% impact on the portfolio. The stock traded at an average price of $159.33 during the quarter and has returned -2.47% over the past three months and 0.11% year-to-date.
Portfolio Overview
As of the third quarter of 2024, Ray Dalio (Trades, Portfolio)'s portfolio included 774 stocks. The top holdings were:
- 7.26% in iShares Core S&P 500 ETF (IVV, Financial)
- 5.78% in iShares Core MSCI Emerging Markets ETF (IEMG, Financial)
- 4.11% in Alphabet Inc (GOOGL, Financial)
- 3.27% in NVIDIA Corp (NVDA, Financial)
- 2.72% in SPDR S&P 500 ETF Trust (SPY, Financial)
The holdings are predominantly concentrated in 11 industries, spanning Technology, Consumer Cyclical, Healthcare, and more, reflecting a diverse and strategic approach to asset allocation.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
