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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.28B |
| 2 |
Oracle
ORCL
|
+$349M |
| 3 |
NVIDIA
NVDA
|
+$252M |
| 4 |
Micron Technology
MU
|
+$204M |
| 5 |
Amazon
AMZN
|
+$188M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$304M |
| 2 |
Uber
UBER
|
+$208M |
| 3 |
FISV
Fiserv Inc
FISV
|
+$205M |
| 4 |
Meta Platforms (Facebook)
META
|
+$129M |
| 5 |
Wells Fargo
WFC
|
+$121M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.43% |
| 2 | Financials | 11.06% |
| 3 | Consumer Discretionary | 8.45% |
| 4 | Healthcare | 6.54% |
| 5 | Industrials | 6.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
US Foods
USFD
$24B
| $18.1M | 0.07% |
240,482
-2,862
| -1% | -$215K |
|
227
Crocs
CROX
$6.55B
| $18.1M | 0.07% |
211,228
-121,522
| -37% | -$10.2M |
|
228
Boyd Gaming
BYD
$6.06B
| $18.1M | 0.07% |
211,921
-3,085
| -1% | -$254K |
|
229
Twilio
TWLO
$36.6B
| $17.7M | 0.06% |
124,757
-17,573
| -12% | -$2.18M |
|
230
Viatris
VTRS
$19.1B
| $17.7M | 0.06% |
1,424,817
-87,239
| -6% | -$941K |
|
231
Global X Uranium ETF
URA
$6.22B
| $17.7M | 0.06% |
414,846
-43,726
| -10% | -$2.12M |
|
232
Chubb
CB
$135B
| $17.7M | 0.06% |
56,583
-10,499
| -16% | -$3.07M |
|
233
BP
BP
$107B
| $17.3M | 0.06% |
497,099
+98,493
| +25% | +$3.46M |
|
234
Cognizant
CTSH
$26B
| $17.2M | 0.06% |
207,700
-212,793
| -51% | -$15.9M |
|
235
Valley National Bancorp
VLY
$8.05B
| $17.1M | 0.06% |
1,465,999
+735,825
| +101% | +$8.16M |
|
236
DoorDash
DASH
$93.7B
| $16.9M | 0.06% |
74,834
-237,327
| -76% | -$55.7M |
|
|
VISN
237
Vistance Networks Inc
VISN
$2.52B
| $16.9M | 0.06% |
932,364
+309,582
| +50% | +$5.34M |
|
238
Dropbox
DBX
$8.12B
| $16.7M | 0.06% |
600,252
-185,234
| -24% | -$5.4M |
|
239
New York Times
NYT
$10.2B
| $16.7M | 0.06% |
240,084
+128,873
| +116% | +$7.99M |
|
240
Primerica
PRI
$10B
| $16.5M | 0.06% |
63,736
+15,558
| +32% | +$4.06M |
|
241
Baker Hughes
BKR
$61.1B
| $16.4M | 0.06% |
359,797
+285,811
| +386% | +$13.6M |
|
242
Euronet Worldwide
EEFT
$2.7B
| $16.3M | 0.06% |
214,163
+7,637
| +4% | +$595K |
|
243
Insulet
PODD
$9.79B
| $16.3M | 0.06% |
57,344
+36,250
| +172% | +$11.3M |
|
244
Open Text
OTEX
$6.04B
| $16.2M | 0.06% |
497,045
-13,496
| -3% | -$481K |
|
245
TD Synnex
SNX
$20.2B
| $16.1M | 0.06% |
107,375
+53,857
| +101% | +$8.26M |
|
246
Allison Transmission
ALSN
$9.82B
| $16M | 0.06% |
163,667
-109,999
| -40% | -$9.64M |
|
247
Macy's
M
$6.68B
| $15.9M | 0.06% |
720,460
+681,348
| +1,742% | +$13.9M |
|
248
Cummins
CMI
$88.7B
| $15.7M | 0.06% |
30,783
+26,120
| +560% | +$12.2M |
|
249
Robinhood
HOOD
$83.9B
| $15.7M | 0.06% |
138,509
-669,005
| -83% | -$87M |
|
250
Pinnacle West Capital
PNW
$12.2B
| $15.4M | 0.06% |
174,043
+67,752
| +64% | +$6.07M |
|
Similar funds
Ray Dalio's Q4 2025 Portfolio in Review
As of Q4 2025, Ray Dalio held 1,205 positions worth $27.4B, up 7.4% from $25.5B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio deployed $1.36B of net new capital in Q4 2025, opening 191 new positions and adding to 450 existing holdings. Its largest new stake was Arm: 326,320 shares worth $35.7M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was Alphabet (Google) Class A, an estimated $304M trimmed.
- Ray Dalio's largest Q4 2025 buy was Arm: 326,320 shares worth $35.7M.
- Ray Dalio added most to State Street SPDR S&P 500 ETF Trust in Q4 2025, an estimated $1.28B increase.
- Ray Dalio's biggest Q4 2025 reduction was Alphabet (Google) Class A, cutting an estimated $304M.
- Ray Dalio fully exited Fiserv Inc in Q4 2025, selling an estimated $205M.
- Ray Dalio's ten largest holdings make up 36% of its $27.4B portfolio in Q4 2025.
- Ray Dalio opened 191 new positions and closed 165 in Q4 2025.
- Ray Dalio's portfolio value rose 7.4% quarter-over-quarter to $27.4B.
Based on Bridgewater Associates's 13F filing for Q4 2025, filed 13 Feb 2026.