Listed below is iBillionaire’s preliminary analysis of the Ray Dalio Bridgewater portfolio changes as of June 30, 2018. Read below to see Bridgewater’s latest investments, and the stocks he sold or bought the most of during the second quarter. We noticed one interesting trend in particular. We won’t tell you yet. Check out the changes and see if you notice the same thing!
In 2Q18 Ray Dalio Bought More Shares Of:
- 17th largest position: Royal Bank of Canada: +429,755 shares / +0.33% of portfolio / used to be 0.12% / now 0.45%
- 19th largest position: Toronto Dominion Bank Ontario: +552,984 shares / +0.32% of portfolio / used to be 0.12% / now 0.44%
- 23rd largest position: Toll Brothers: +798,617 shares / +0.29% of portfolio / used to be 0.09% / now 0.38%
- 29th largest position: Suncor Energy +488,279 shares / +0.22% of portfolio / used to be 0.08% / now 0.30%
- 31st largest position: Caterpillar Inc.: +153,350 shares / +0.21% of portfolio / used to be 0.08% / now 0.29%
- Chevron Corp: +181,568 shares / +0.23% of portfolio / used to be 0.03% / now 0.26%
- McDonald’s Corp: +140,183 shares / +0.22% of portfolio / used to be 0.03% / now 0.25%
- Canadian National Railway Co.: +220,570 shares / +0.19% of portfolio / used to be 0.06% / now 0.25%
- TE Connectivity: +232,285 shares / +0.21% of portfolio / used to be 0.06% / now 0.25%
- Bank of Montreal: +191,944 shares / +0.15% of portfolio / used to be 0.05% / now 0.20%
- Canadian Natural Resources: +0.14% of portfolio / used to be 0.06% / now 0.20%
Notice A Trend?
We count five increases in Canadian stocks: 3 banks, 1 railway company, and 1 resources company. These five stocks are now 1.54% of the Ray Dalio Bridgewater portfolio, up from 0.41%. And there might be more! We aren’t done analyzing yet. These percentages might sound small, but remember that Dalio is highly concentrated in his top 10 investments. The Royal Bank of Canada is now Bridgewater’s 17th largest position, even though it only makes up 0.45% of the portfolio. Number 17 is pretty far up there, so we still consider this significant. Also, the top 16 stocks in his portfolio haven’t changed much since last quarter.
Now let’s look at what he sold, and new additions to his portfolio.
in 2Q18 Dalio Sold Shares Of:
- Gamestop Corp: -1,210,003 shares / -0.10% of portfolio / used to be 0.38% / now 0.28%
- Kimberley Clark: -100,587 shares / -0.11% of portfolio / used to be 0.33% / now 0.22%
- Newfield Exploration Co.: -1,134,000 shares / -0.22% of portfolio / used to be 0.42% / now 0.20%
- Alliance Data Systems: -59,648 shares / -0.10% of portfolio / used to be 0.31% of portfolio / now 0.21%
Two Stocks Ray Dalio added to his portfolio in 2Q18:
- Cummins Inc.: Bought +235,261 shares / now 0.31% of portfolio / now 28th largest position
- Cummins designs, manufactures, and distributes engines, filtration, and power generation products. Cummins also services engines and related equipment, including fuel systems, controls, air handling, filtration, emission control and electrical power generation systems.
- Applied Materials Inc.: Bought +551,724 shares / now 0.25% of portfolio / now 34th largest position
- Applied Materials supplies equipment, services and software to enable the manufacture of semiconductor chips for electronics, flat panel displays for computers, smartphones and televisions, and solar products.
About Ray Dalio & Bridgewater
Ray Dalio, manager of Bridgewater Hedge Fund (the largest hedge fund in the world) recently filed SEC Form 13F, reporting the latest changes (as of June 30, 2018) in his portfolio. Ray Dalio Bridgewater maintained its holdings in the two biggest gold-backed ETFs even though prices fell after many investors sold the metal. Their last reported 13F filing for 2Q18 included $10,008,512,000 in managed 13F Securities (equities) and a top 10 holdings concentration of almost 70%. Bridgewater Associates’s largest holding is SPDR S&P 500 ETF Index Depositary Receipts. Dalio’s stock holdings are highly concentrated in a relatively small number of positions. Most of his largest stakes are in ETFs, for example the Vanguard Emerging Markets Equity Index (VWO), SPDR S&P 500 ETF (SPY), and iShares ETFs EEM and IEMG. His top 7 positions make up more than three-fifths of the total stock holdings.
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