Ray Dalio (Trades, Portfolio) founded Greenwich, Connecticut-based hedge fund Bridgewater Associates in 1975. Now it has more than $165 billion under management. During the third quarter the guru’s largest trades were as follows:
He closed his stake in Barrick Gold Corp. (ABX) with an impact of -0.57% on the portfolio.
Barrick produces and sells gold and copper. The company's business activities also include exploration and mine development, and it holds interests in oil and gas properties in Canada. Third-quarter net earnings attributable to equity holders of Barrick were 15 cents per share, and adjusted net earnings were $278 million, or 24 cents per share.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of -31.95% is underperforming and ROA of -9.20% that is outperforming 50% of the companies in the Global Gold industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.31 that is below the industry median of 16.04.
The largest shareholder among the gurus is First Eagle Investment (Trades, Portfolio) with 3% of outstanding shares followed by Jim Simons (Trades, Portfolio) with 0.97%, Caxton Associates (Trades, Portfolio) with 0.48%, George Soros (Trades, Portfolio) with 0.24%, Stanley Druckenmiller (Trades, Portfolio) with 0.16%, John Hussman (Trades, Portfolio) with 0.08%, Steven Cohen (Trades, Portfolio) with 0.03% and John Rogers (Trades, Portfolio) with 0.03%.
The investor raised his stake in Apple Inc. (AAPL) by 185.97% with an impact of 0.25% on the portfolio.
The company designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players and sells a variety of related software, services, accessories, networking solutions and third-party digital content.
During the third quarter revenue was $42.4 billion and quarterly net income was $7.8 billion, or $1.42 per diluted share, compared to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 36.10% and ROA of 15.07% that are outperforming 95% of the companies in the Global Consumer Electronics industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.77 that is below the industry median of 1.50.
Warren Buffett (Trades, Portfolio) is the largest shareholder with 0.29% of outstanding shares followed by Ken Fisher (Trades, Portfolio) with 0.21%, Pioneer Investments (Trades, Portfolio) with 0.17%, Spiros Segalas (Trades, Portfolio) with 0.16%, Jeremy Grantham (Trades, Portfolio) with 0.11% and David Einhorn (Trades, Portfolio) with 0.1%.
The guru reduced his stake in Goldcorp Inc. (GG) by 58.76% with an impact of -0.24% on the portfolio.
Goldcorp is a gold producer. The company is engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the U.S., Mexico and Central and South America. Third-quarter net earnings were 7 cents per share compared to a net loss of 23 cents per share in the same quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of -31.58% and ROA of -19.33% that are underperforming 68% of the companies in the Global Gold industry. Financial strength has a rating of 4 out of 10, with cash to debt of 0.13 that is below the industry median of 16.04%.
The largest shareholder of the company among the gurus is First Eagle Investment with 3.91% of outstanding shares followed by RS Investment Management (Trades, Portfolio) with 0.05%, Caxton Associates with 0.04% and Hussman with 0.03%.
The investor exited AmerisourceBergen Corp. (ABC) with an impact of -0.57% on the portfolio.
It is a pharmaceutical services company. It provides drug distribution and related health care services and solutions to pharmacy, physician and manufacturer customers based in the U.S. and Canada. During the third quarter the company reported a 5.9% increase in revenue, and adjusted diluted earnings per shares grew 12.1%.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 87.78% and ROA 4.56% that are outperforming 65% of the companies in the Global Medical Distribution industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.76 that is a few above the industry median of 0.67.
The largest shareholder among the gurus is Joel Greenblatt (Trades, Portfolio) with 0.13% of outstanding shares followed by Simons with 0.08%, First Pacific Advisors (Trades, Portfolio) with 0.08%, Arnold Van Den Berg (Trades, Portfolio) with 0.04% and Fisher with 0.04%.
The guru exited his position in MetLife Inc. (MET) with an impact of -0.21% on the portfolio.
The company is a provider of insurance, annuities and employee benefit programs in the U.S., Japan, Latin America, Asia, Europe and the Middle East. It offers life insurance, annuities, property and casualty insurance and other financial services. Third-quarter net income increased 52% year over year, and operating earnings increased 102% from the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 4.86% and ROA of 0.41% that are underperforming 71% of the companies in the Global Insurance - Life industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.80 that is below the industry median of 8.95.
Dodge & Cox is the largest shareholder among the gurus with 3.73% of outstanding shares followed by T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.68%, Diamond Hill Capital (Trades, Portfolio) with 0.64%, Richard Pzena (Trades, Portfolio) with 0.54%, Andreas Halvorsen (Trades, Portfolio) with 0.15%, NWQ Managers (Trades, Portfolio) with 0.14% and Richard Snow (Trades, Portfolio) with 0.12%.
The guru reduced his stake in Alliance Data Systems Corp. (ADS) by 49.14% with an impact of -0.2% on the portfolio.
The company is a provider of transaction-based, data-driven marketing and loyalty solutions serving large, consumer-based businesses in a variety of industries. During the third quarter the company reported a 19% increase for revenue and 59% growth for net income. Diluted shares outstanding decreased 5%.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 30.73% and ROA of 3.05% that are outperforming 60% of the companies in the Global Credit Services industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.13 that is below the industry median of 6.28.
The largest shareholder among the gurus is Jeff Ubben (Trades, Portfolio) with 8.66% of outstanding shares followed by Paul Tudor Jones (Trades, Portfolio) with 0.28%, Ronald Muhlenkamp (Trades, Portfolio) with 0.21%, Jerome Dodson (Trades, Portfolio) with 0.14% and Van Den Berg with 0.05%.
The guru increased his stake in Intel Corp. (INTC) by 54.15% with an impact of 0.2% on the portfolio.
The company is a semiconductor chip-maker. It develops integrated digital technology products like integrated circuits for industries such as computing and communications.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 17.06% and ROA of 9.83% that are outperforming 84% of the companies in the Global Semiconductors industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.64 that is below the industry median of 1.64.
PRIMECAP Management (Trades, Portfolio) is the largest shareholder among the gurus with 0.66% of outstanding shares followed by Fisher with 0.42%, Bill Nygren (Trades, Portfolio) with 0.23%, Pzena with 0.18% and Grantham with 0.08%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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