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 | |
|---|---|---|---|---|---|---|
301
US Foods
USFD
$24B
| $6.72M | 0.03% |
87,222
+45,476
| +109% | +$3.24M |
|
302
Comfort Systems
FIX
$59.6B
| $6.57M | 0.03% |
12,246
-115,233
| -90% | -$50.2M |
|
303
Hexcel
HXL
$7.82B
| $6.55M | 0.03% |
+116,023
| New | +$6.13M |
|
304
Intuitive Surgical
ISRG
$134B
| $6.39M | 0.03% |
11,762
-13,108
| -53% | -$6.85M |
|
305
Gates Industrial Corporation Ltd.
GTES
$7.15B
| $6.37M | 0.03% |
276,534
+216,277
| +359% | +$4.36M |
|
306
Sprott Uranium Miners ETF
URNM
$1.98B
| $6.28M | 0.03% |
131,101
-73,403
| -36% | -$2.78M |
|
307
Silicon Laboratories
SLAB
$7.23B
| $6.2M | 0.03% |
+42,106
| New | +$4.98M |
|
308
Tesla
TSLA
$1.3T
| $6.17M | 0.02% |
19,413
-12,835
| -40% | -$3.87M |
|
309
Group 1 Automotive
GPI
$3.18B
| $6.16M | 0.02% |
14,116
+7,122
| +102% | +$2.99M |
|
310
Travel + Leisure Co
TNL
$4.7B
| $6.08M | 0.02% |
117,746
-7,922
| -6% | -$372K |
|
|
LB
311
LandBridge Co
LB
$2.1B
| $6.04M | 0.02% |
89,418
+20,967
| +31% | +$1.51M |
|
312
Owens Corning
OC
$12.4B
| $6.03M | 0.02% |
43,859
-9,812
| -18% | -$1.35M |
|
313
Primerica
PRI
$9.89B
| $5.97M | 0.02% |
21,799
-6,773
| -24% | -$1.8M |
|
314
PBF Energy
PBF
$7.31B
| $5.92M | 0.02% |
273,046
+246,875
| +943% | +$4.69M |
|
315
Starbucks
SBUX
$120B
| $5.91M | 0.02% |
64,463
-20,484
| -24% | -$1.78M |
|
316
Autoliv
ALV
$9B
| $5.86M | 0.02% |
52,411
+14,393
| +38% | +$1.41M |
|
317
Mueller Water Products
MWA
$4.16B
| $5.82M | 0.02% |
242,134
+123,413
| +104% | +$3.05M |
|
318
Allegion
ALLE
$14.4B
| $5.82M | 0.02% |
40,381
-69,379
| -63% | -$9.48M |
|
319
First American
FAF
$7.58B
| $5.78M | 0.02% |
94,206
+27,914
| +42% | +$1.66M |
|
320
Sibanye-Stillwater
SBSW
$7.53B
| $5.76M | 0.02% |
797,716
-1,589,385
| -67% | -$8.69M |
|
321
GFL Environmental
GFL
$14.9B
| $5.76M | 0.02% |
114,128
+49,569
| +77% | +$2.43M |
|
322
InterDigital
IDCC
$8.89B
| $5.58M | 0.02% |
24,895
+3,023
| +14% | +$640K |
|
323
Commault Systems
CVLT
$5.61B
| $5.56M | 0.02% |
31,915
+19,429
| +156% | +$3.32M |
|
324
Elastic
ESTC
$7.81B
| $5.5M | 0.02% |
+65,223
| New | +$5.51M |
|
|
GTM
325
ZoomInfo Technologies
GTM
$1.22B
| $5.46M | 0.02% |
+539,431
| New | +$4.99M |
|
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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.