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
|
+$4.36B |
| 2 |
AT&T
T
|
+$117M |
| 3 |
PayPal
PYPL
|
+$95.6M |
| 4 |
eBay
EBAY
|
+$95.2M |
| 5 |
Adobe
ADBE
|
+$94.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$198M |
| 2 |
Walmart Inc
WMT
|
+$179M |
| 3 |
NVIDIA
NVDA
|
+$173M |
| 4 |
Johnson & Johnson
JNJ
|
+$144M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$133M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.76% |
| 2 | Healthcare | 9.26% |
| 3 | Consumer Discretionary | 9.01% |
| 4 | Financials | 8.43% |
| 5 | Communication Services | 8.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
276
Hudbay
HBM
$12.3B
| $8.83M | 0.04% |
1,088,562
+323,574
| +42% | +$2.9M |
|
277
Quanta Services
PWR
$101B
| $8.79M | 0.04% |
27,797
-11,285
| -29% | -$3.63M |
|
278
Texas Roadhouse
TXRH
$13.7B
| $8.75M | 0.04% |
48,481
-35,347
| -42% | -$6.65M |
|
279
Labcorp
LH
$25.9B
| $8.36M | 0.04% |
36,452
-113,426
| -76% | -$26M |
|
280
Gen Digital
GEN
$17.5B
| $8.33M | 0.04% |
304,248
-213,343
| -41% | -$6.13M |
|
281
Simpson Manufacturing
SSD
$8.16B
| $8.25M | 0.04% |
49,776
-1,720
| -3% | -$315K |
|
282
TechnipFMC
FTI
$27.3B
| $8.09M | 0.04% |
279,668
-135,555
| -33% | -$3.86M |
|
283
Edwards Lifesciences
EW
$51.7B
| $8.02M | 0.04% |
108,285
-57,166
| -35% | -$4M |
|
284
CRH
CRH
$66.8B
| $7.88M | 0.04% |
85,155
+60,974
| +252% | +$5.87M |
|
285
Century Aluminum
CENX
$5.07B
| $7.86M | 0.04% |
431,279
+183,875
| +74% | +$3.61M |
|
286
J.M. Smucker
SJM
$12.8B
| $7.72M | 0.04% |
70,074
-27,244
| -28% | -$3.13M |
|
287
Nextpower Inc
NXT
$15.7B
| $7.71M | 0.04% |
210,996
-117,717
| -36% | -$4.31M |
|
288
Ally Financial
ALLY
$13.3B
| $7.64M | 0.04% |
212,301
+76,652
| +57% | +$2.78M |
|
289
DexCom
DXCM
$32B
| $7.62M | 0.03% |
97,938
-221,691
| -69% | -$16.4M |
|
290
Rivian
RIVN
$23.2B
| $7.58M | 0.03% |
+570,260
| New | +$6.56M |
|
291
Teradata
TDC
$2.55B
| $7.57M | 0.03% |
242,973
+72,082
| +42% | +$2.26M |
|
292
Idacorp
IDA
$8.2B
| $7.55M | 0.03% |
+69,061
| New | +$7.59M |
|
293
Tencent Music
TME
$15.6B
| $7.51M | 0.03% |
661,441
-105,706
| -14% | -$1.25M |
|
294
Coca-Cola Consolidated
COKE
$12.8B
| $7.41M | 0.03% |
58,780
-34,560
| -37% | -$4.33M |
|
295
Scotiabank
BNS
$108B
| $7.38M | 0.03% |
137,431
+55,202
| +67% | +$2.98M |
|
296
Sibanye-Stillwater
SBSW
$7.53B
| $7.36M | 0.03% |
2,229,536
-1,047,118
| -32% | -$4.41M |
|
|
CIVI
297
DELISTED
Civitas Resources
CIVI
| $7.34M | 0.03% |
160,053
-33,646
| -17% | -$1.68M |
|
298
CNO Financial Group
CNO
$5.1B
| $7.34M | 0.03% |
197,191
+9,981
| +5% | +$371K |
|
299
Grab
GRAB
$14.9B
| $7.29M | 0.03% |
+1,545,359
| New | +$7.03M |
|
300
Pfizer
PFE
$153B
| $7.26M | 0.03% |
273,839
+261,992
| +2,211% | +$7.11M |
|
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Ray Dalio's Q4 2024 Portfolio in Review
As of Q4 2024, Ray Dalio held 855 positions worth $21.8B, up 24% from $17.7B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Ray Dalio deployed $4.28B of net new capital in Q4 2024, opening 82 new positions and adding to 262 existing holdings. Its largest new stake was ServiceNow: 281,970 shares worth $59.8M.
By sector, the portfolio is most concentrated in Technology at 16% of assets, down from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Procter & Gamble, an estimated $198M trimmed.
- Ray Dalio's largest Q4 2024 buy was ServiceNow: 281,970 shares worth $59.8M.
- Ray Dalio added most to State Street SPDR S&P 500 ETF Trust in Q4 2024, an estimated $4.36B increase.
- Ray Dalio's biggest Q4 2024 reduction was Procter & Gamble, cutting an estimated $198M.
- Ray Dalio fully exited Micron Technology in Q4 2024, selling an estimated $102M.
- Ray Dalio's ten largest holdings make up 43% of its $21.8B portfolio in Q4 2024.
- Ray Dalio opened 82 new positions and closed 164 in Q4 2024.
- Ray Dalio's portfolio value rose 24% quarter-over-quarter to $21.8B.
Based on Bridgewater Associates's 13F filing for Q4 2024, filed 13 Feb 2025.