Ray Dalio Buys Cliffs Natural Resources Inc, Endo International PLC, Devon Energy Corp, Sells iShares MSCI Emerging Index Fund, Vanguard FTSE Emerging Markets, Apple Inc

• New Purchases: CLF, GE, ESV, DIS, UPS, BIIB, MU, ADBE, X, AMGN,
• Added Positions: ENDP, EWZ, DVN, M, ESRX, INTU, SWN, IPG, KSS, CVS,
• Reduced Positions: EEM, VWO, SPY, MSFT, CSCO, UNH, SU, BLK, MCO, CTL,
• Sold Out: AAPL, TAP, K, GIS, DKS, MFC, PPG, ROST, TXN, TRP,

For the details of Ray Dalio's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Ray+Dalio

1. Vanguard FTSE Emerging Markets (VWO) - 72,183,616 shares, 32.52% of the total portfolio. Shares reduced by 21.71%
2. SPDR S&P 500 (SPY) - 9,872,429 shares, 26.39% of the total portfolio. Shares reduced by 2.24%
3. iShares MSCI Emerging Index Fund (EEM) - 39,120,778 shares, 17.48% of the total portfolio. Shares reduced by 43.85%
4. iShares Core MSCI Emerging Markets (IEMG) - 5,713,056 shares, 3.1% of the total portfolio.
5. iShares MSCI Brazil Capped Index Fund (EWZ) - 5,889,241 shares, 2.5% of the total portfolio. Shares added by 11.20%

Ray Dalio initiated holdings in Cliffs Natural Resources Inc. The purchase prices were between $8.14 and $12.03, with an estimated average price of $9.5. The stock is now traded at around $6.25. The impact to the portfolio due to this purchase was 0.36%. The holdings were 3,848,295 shares as of 2017-03-31.

Ray Dalio initiated holdings in General Electric Co. The purchase prices were between $29.39 and $31.7, with an estimated average price of $30.2. The stock is now traded at around $28.87. The impact to the portfolio due to this purchase was 0.2%. The holdings were 604,856 shares as of 2017-03-31.

Ray Dalio initiated holdings in Ensco PLC. The purchase prices were between $8.37 and $11.81, with an estimated average price of $10.14. The stock is now traded at around $7.96. The impact to the portfolio due to this purchase was 0.18%. The holdings were 1,780,978 shares as of 2017-03-31.

Ray Dalio initiated holdings in Walt Disney Co. The purchase prices were between $106.08 and $113.39, with an estimated average price of $110.1. The stock is now traded at around $109.58. The impact to the portfolio due to this purchase was 0.17%. The holdings were 129,847 shares as of 2017-03-31.

Ray Dalio initiated holdings in United Parcel Service Inc. The purchase prices were between $104.78 and $118.09, with an estimated average price of $109.26. The stock is now traded at around $104.15. The impact to the portfolio due to this purchase was 0.16%. The holdings were 128,914 shares as of 2017-03-31.

Ray Dalio initiated holdings in Biogen Inc. The purchase prices were between $251.68 and $297.85, with an estimated average price of $275.15. The stock is now traded at around $254.15. The impact to the portfolio due to this purchase was 0.14%. The holdings were 45,447 shares as of 2017-03-31.

Ray Dalio added to the holdings in Endo International PLC by 148.89%. The purchase prices were between $9.87 and $17.7, with an estimated average price of $12.42. The stock is now traded at around $13.73. The impact to the portfolio due to this purchase was 0.29%. The holdings were 3,825,502 shares as of 2017-03-31.

Ray Dalio added to the holdings in Devon Energy Corp by 340.07%. The purchase prices were between $38.8 and $49.01, with an estimated average price of $43.97. The stock is now traded at around $37.95. The impact to the portfolio due to this purchase was 0.21%. The holdings were 570,774 shares as of 2017-03-31.

Ray Dalio added to the holdings in Macy's Inc by 117.82%. The purchase prices were between $27.93 and $35.84, with an estimated average price of $30.9. The stock is now traded at around $24.35. The impact to the portfolio due to this purchase was 0.19%. The holdings were 1,030,772 shares as of 2017-03-31.

Ray Dalio added to the holdings in Intuit Inc by 324.27%. The purchase prices were between $114.75 and $128.01, with an estimated average price of $119.85. The stock is now traded at around $126.88. The impact to the portfolio due to this purchase was 0.14%. The holdings were 137,040 shares as of 2017-03-31.

Ray Dalio added to the holdings in Express Scripts Holding Co by 53.19%. The purchase prices were between $63.84 and $73.16, with an estimated average price of $68.81. The stock is now traded at around $60.66. The impact to the portfolio due to this purchase was 0.14%. The holdings were 539,841 shares as of 2017-03-31.

Ray Dalio added to the holdings in Southwestern Energy Co by 62.66%. The purchase prices were between $7.35 and $10.32, with an estimated average price of $8.66. The stock is now traded at around $7.48. The impact to the portfolio due to this purchase was 0.13%. The holdings were 3,785,525 shares as of 2017-03-31.

Ray Dalio sold out the holdings in Apple Inc. The sale prices were between $116.02 and $144.12, with an estimated average price of $131.71.

Ray Dalio sold out the holdings in Molson Coors Brewing Co. The sale prices were between $94.89 and $101.59, with an estimated average price of $97.64.

Ray Dalio sold out the holdings in Kellogg Co. The sale prices were between $71.38 and $76.44, with an estimated average price of $73.51.

Ray Dalio sold out the holdings in General Mills Inc. The sale prices were between $58.79 and $63.19, with an estimated average price of $61.13.

Ray Dalio sold out the holdings in Manulife Financial Corp. The sale prices were between $17.08 and $19.46, with an estimated average price of $18.42.

Ray Dalio sold out the holdings in PPG Industries Inc. The sale prices were between $95.25 and $106.83, with an estimated average price of $101.25.

Ray Dalio reduced to the holdings in iShares MSCI Emerging Index Fund by 43.85%. The sale prices were between $35.01 and $39.99, with an estimated average price of $37.94. The stock is now traded at around $41.05. The impact to the portfolio due to this sale was -10.16%. Ray Dalio still held 39,120,778 shares as of 2017-03-31.

Ray Dalio reduced to the holdings in Vanguard FTSE Emerging Markets by 21.71%. The sale prices were between $35.78 and $40.47, with an estimated average price of $38.55. The stock is now traded at around $40.71. The impact to the portfolio due to this sale was -6.8%. Ray Dalio still held 72,183,616 shares as of 2017-03-31.

Ray Dalio reduced to the holdings in Microsoft Corp by 96.37%. The sale prices were between $62.3 and $65.86, with an estimated average price of $64.09. The stock is now traded at around $68.46. The impact to the portfolio due to this sale was -0.38%. Ray Dalio still held 23,710 shares as of 2017-03-31.

Ray Dalio reduced to the holdings in UnitedHealth Group Inc by 86.61%. The sale prices were between $157.62 and $171.78, with an estimated average price of $163.77. The stock is now traded at around $173.32. The impact to the portfolio due to this sale was -0.22%. Ray Dalio still held 21,941 shares as of 2017-03-31.

Ray Dalio reduced to the holdings in Cisco Systems Inc by 91.85%. The sale prices were between $29.98 and $34.44, with an estimated average price of $32.43. The stock is now traded at around $33.63. The impact to the portfolio due to this sale was -0.22%. Ray Dalio still held 68,861 shares as of 2017-03-31.

Ray Dalio reduced to the holdings in Suncor Energy Inc by 59.25%. The sale prices were between $29.72 and $33.34, with an estimated average price of $31.5. The stock is now traded at around $31.57. The impact to the portfolio due to this sale was -0.19%. Ray Dalio still held 416,700 shares as of 2017-03-31.