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 |
Alibaba
BABA
|
+$623M |
| 2 |
SPDR Gold Trust
GLD
|
+$293M |
| 3 |
ServiceNow
NOW
|
+$172M |
| 4 |
Booking.com
BKNG
|
+$170M |
| 5 |
Baidu
BIDU
|
+$169M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$2.87B |
| 2 |
Applovin
APP
|
+$168M |
| 3 |
Meta Platforms (Facebook)
META
|
+$126M |
| 4 |
McKesson
MCK
|
+$107M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$105M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.81% |
| 2 | Consumer Discretionary | 12.96% |
| 3 | Financials | 12.67% |
| 4 | Communication Services | 7.72% |
| 5 | Healthcare | 7.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
NexGen Energy
NXE
$6.99B
| $10.9M | 0.05% |
2,434,206
+558,632
| +30% | +$3.3M |
|
252
APA Corp
APA
$13.2B
| $10.9M | 0.05% |
517,553
+56,167
| +12% | +$1.23M |
|
253
Grand Canyon Education
LOPE
$3.98B
| $10.8M | 0.05% |
62,271
-3,774
| -6% | -$655K |
|
254
Pilgrim's Pride
PPC
$6.54B
| $10.7M | 0.05% |
196,937
+188,988
| +2,378% | +$9.45M |
|
|
GTLS
255
DELISTED
Chart Industries
GTLS
| $10.7M | 0.05% |
73,973
+56,737
| +329% | +$10.4M |
|
256
Brookfield Asset Management
BAM
$83.8B
| $10.6M | 0.05% |
+219,847
| New | +$12M |
|
|
TLN
257
Talen Energy Corp
TLN
$16.7B
| $10.4M | 0.05% |
52,058
+30,690
| +144% | +$6.66M |
|
258
GE HealthCare
GEHC
$32.4B
| $10.3M | 0.05% |
127,062
+95,043
| +297% | +$8.17M |
|
259
Denison Mines
DNN
$2.91B
| $10.2M | 0.05% |
7,850,838
+2,389,514
| +44% | +$3.99M |
|
260
AppFolio
APPF
$7.04B
| $10.2M | 0.05% |
46,368
-30,933
| -40% | -$7.1M |
|
261
PVH
PVH
$4.04B
| $10M | 0.05% |
155,060
-66,076
| -30% | -$5.34M |
|
262
Cardinal Health
CAH
$55.4B
| $9.96M | 0.05% |
72,283
-336,472
| -82% | -$42.9M |
|
263
Globus Medical
GMED
$11.2B
| $9.74M | 0.05% |
+133,112
| New | +$11M |
|
264
Abbott
ABT
$187B
| $9.66M | 0.04% |
72,830
-118,896
| -62% | -$15.1M |
|
265
Neurocrine Biosciences
NBIX
$16.6B
| $9.65M | 0.04% |
87,238
-245,360
| -74% | -$31.1M |
|
266
Ero Copper
ERO
$3.58B
| $9.56M | 0.04% |
789,327
-28,942
| -4% | -$386K |
|
267
Huazhu Hotels Group
HTHT
$13B
| $9.52M | 0.04% |
257,259
+71,891
| +39% | +$2.49M |
|
268
Yelp
YELP
$1.41B
| $9.51M | 0.04% |
256,807
+96,678
| +60% | +$3.64M |
|
269
M/I Homes
MHO
$3.84B
| $9.49M | 0.04% |
83,088
+57,528
| +225% | +$7.06M |
|
270
Sprouts Farmers Market
SFM
$8.01B
| $9.31M | 0.04% |
60,971
+27,360
| +81% | +$4.08M |
|
271
Woodward
WWD
$21.4B
| $9.27M | 0.04% |
+50,786
| New | +$9.39M |
|
272
Vale
VALE
$62.6B
| $9.22M | 0.04% |
924,330
-3,052,785
| -77% | -$28.8M |
|
273
GitLab
GTLB
$6.58B
| $9.06M | 0.04% |
+192,722
| New | +$11.8M |
|
274
Evercore
EVR
$11.8B
| $9.04M | 0.04% |
45,286
+12,031
| +36% | +$3M |
|
275
Terex
TEX
$7.74B
| $8.99M | 0.04% |
+238,032
| New | +$10.4M |
|
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Ray Dalio's Q1 2025 Portfolio in Review
As of Q1 2025, Ray Dalio held 814 positions worth $21.6B, down 1.2% from $21.8B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Ray Dalio's Q1 2025 filing shows 123 new, 283 increased, 252 reduced and 150 closed positions. Its largest new stake was SPDR Gold Trust: 1,106,395 shares worth $319M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $2.87B.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Financials.
- Ray Dalio's largest Q1 2025 buy was SPDR Gold Trust: 1,106,395 shares worth $319M.
- Ray Dalio added most to Alibaba in Q1 2025, an estimated $623M increase.
- Ray Dalio's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $2.87B.
- Ray Dalio fully exited ON Semiconductor in Q1 2025, selling an estimated $42.7M.
- Ray Dalio's ten largest holdings make up 32% of its $21.6B portfolio in Q1 2025.
- Ray Dalio opened 123 new positions and closed 150 in Q1 2025.
- Ray Dalio's portfolio value fell 1.2% quarter-over-quarter to $21.6B.
Based on Bridgewater Associates's 13F filing for Q1 2025, filed 14 May 2025.