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 |
NVIDIA
NVDA
|
+$552M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$419M |
| 3 |
Microsoft
MSFT
|
+$393M |
| 4 |
Johnson & Johnson
JNJ
|
+$305M |
| 5 |
Uber
UBER
|
+$259M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$748M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$418M |
| 3 |
Constellation Energy
CEG
|
+$211M |
| 4 |
Pinduoduo
PDD
|
+$206M |
| 5 |
Baidu
BIDU
|
+$191M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.87% |
| 2 | Communication Services | 11.52% |
| 3 | Financials | 9.89% |
| 4 | Healthcare | 8.49% |
| 5 | Consumer Discretionary | 7.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
NorthWestern Energy
NWE
$4.43B
| $13M | 0.05% |
252,753
+156,865
| +164% | +$8.67M |
|
|
DOCU
227
DocuSign
DOCU
$11.5B
| $12.8M | 0.05% |
164,176
+101,612
| +162% | +$8.22M |
|
228
M/I Homes
MHO
$3.84B
| $12.7M | 0.05% |
113,644
+30,556
| +37% | +$3.32M |
|
229
BHP
BHP
$230B
| $12.6M | 0.05% |
262,747
+154,848
| +144% | +$7.44M |
|
230
PVH
PVH
$4.04B
| $12.6M | 0.05% |
183,318
+28,258
| +18% | +$2.05M |
|
231
BioMarin Pharmaceuticals
BMRN
$12.4B
| $12.5M | 0.05% |
227,746
+104,090
| +84% | +$6.13M |
|
232
Par Pacific Holdings
PARR
$3.32B
| $12.2M | 0.05% |
459,380
-72,096
| -14% | -$1.37M |
|
|
GTLS
233
DELISTED
Chart Industries
GTLS
| $12M | 0.05% |
72,646
-1,327
| -2% | -$195K |
|
234
Aecom
ACM
$9.75B
| $11.8M | 0.05% |
104,805
+100,742
| +2,479% | +$10.5M |
|
235
McDonald's
MCD
$195B
| $11.8M | 0.05% |
40,448
-13,468
| -25% | -$4.15M |
|
236
SEI Investments
SEIC
$12.6B
| $11.6M | 0.05% |
129,587
-16,993
| -12% | -$1.37M |
|
237
Boyd Gaming
BYD
$6.06B
| $11.5M | 0.05% |
147,411
-20,911
| -12% | -$1.49M |
|
238
Nutrien
NTR
$30.7B
| $11.5M | 0.05% |
+197,809
| New | +$11.2M |
|
239
Curtiss-Wright
CW
$25.5B
| $11.2M | 0.05% |
22,963
+1,640
| +8% | +$647K |
|
240
Axsome Therapeutics
AXSM
$10.9B
| $11.2M | 0.05% |
107,292
+64,467
| +151% | +$6.83M |
|
241
Vertiv
VRT
$105B
| $11M | 0.04% |
86,016
-824,340
| -91% | -$80.2M |
|
242
Fidelity National Information Services
FIS
$22.1B
| $10.9M | 0.04% |
133,867
-115,922
| -46% | -$9.02M |
|
243
Webster Financial
WBS
$12.8B
| $10.9M | 0.04% |
+199,129
| New | +$9.93M |
|
244
Woodward
WWD
$21.4B
| $10.6M | 0.04% |
43,441
-7,345
| -14% | -$1.5M |
|
|
SNCY
245
DELISTED
Sun Country Airlines
SNCY
| $10.5M | 0.04% |
894,992
+761,425
| +570% | +$8.37M |
|
246
Assured Guaranty
AGO
$3.34B
| $10.5M | 0.04% |
120,652
+40,787
| +51% | +$3.47M |
|
247
CNO Financial Group
CNO
$5.1B
| $10.4M | 0.04% |
269,864
-2,319
| -0.9% | -$88.4K |
|
248
Texas Capital Bancshares
TCBI
$4.32B
| $10.3M | 0.04% |
+130,167
| New | +$9.33M |
|
249
Yelp
YELP
$1.41B
| $10.3M | 0.04% |
299,216
+42,409
| +17% | +$1.53M |
|
250
PepsiCo
PEP
$190B
| $10.2M | 0.04% |
77,610
-24,453
| -24% | -$3.29M |
|
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Ray Dalio's Q2 2025 Portfolio in Review
As of Q2 2025, Ray Dalio held 749 positions worth $24.8B, up 15% from $21.6B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio's Q2 2025 filing shows 85 new, 206 increased, 287 reduced and 164 closed positions. Its largest new stake was Arm: 473,725 shares worth $76.6M. The largest sale was Alibaba, an estimated $748M.
By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 19% a quarter earlier, followed by Communication Services and Financials.
- Ray Dalio's largest Q2 2025 buy was Arm: 473,725 shares worth $76.6M.
- Ray Dalio added most to NVIDIA in Q2 2025, an estimated $552M increase.
- Ray Dalio's biggest Q2 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $418M.
- Ray Dalio fully exited Alibaba in Q2 2025, selling an estimated $748M.
- Ray Dalio's ten largest holdings make up 36% of its $24.8B portfolio in Q2 2025.
- Ray Dalio opened 85 new positions and closed 164 in Q2 2025.
- Ray Dalio's portfolio value rose 15% quarter-over-quarter to $24.8B.
Based on Bridgewater Associates's 13F filing for Q2 2025, filed 13 Aug 2025.