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 | |
|---|---|---|---|---|---|---|
|
TGNA
426
DELISTED
TEGNA Inc
TGNA
| $1.84M | 0.01% |
109,953
-492,820
| -82% | -$8.19M |
|
427
Organon & Co
OGN
$3.57B
| $1.82M | 0.01% |
188,436
+120,139
| +176% | +$1.24M |
|
|
K
428
DELISTED
Kellanova
K
| $1.79M | 0.01% |
22,557
-3,433
| -13% | -$281K |
|
429
Coinbase
COIN
$40.5B
| $1.77M | 0.01% |
5,049
| – | – |
|
430
Amerant Bancorp
AMTB
$1.13B
| $1.75M | 0.01% |
+95,734
| New | +$1.7M |
|
431
Hudbay
HBM
$12.3B
| $1.74M | 0.01% |
164,404
-466,391
| -74% | -$3.89M |
|
432
CNA Financial
CNA
$14.1B
| $1.68M | 0.01% |
36,066
-8,429
| -19% | -$400K |
|
|
WCN
433
Waste Connections
WCN
$42B
| $1.66M | 0.01% |
8,901
+1,828
| +26% | +$352K |
|
434
Granite Construction
GVA
$5.62B
| $1.66M | 0.01% |
+17,736
| New | +$1.49M |
|
435
Oshkosh
OSK
$9.59B
| $1.64M | 0.01% |
14,482
-71,348
| -83% | -$6.93M |
|
436
Brink's
BCO
$4.62B
| $1.62M | 0.01% |
+18,162
| New | +$1.58M |
|
437
Becton Dickinson
BDX
$48.2B
| $1.62M | 0.01% |
9,376
-2,847
| -23% | -$522K |
|
438
General Mills
GIS
$19.7B
| $1.61M | 0.01% |
31,040
-59,396
| -66% | -$3.28M |
|
439
Rockwell Automation
ROK
$49B
| $1.6M | 0.01% |
4,824
-2,749
| -36% | -$783K |
|
440
Gildan
GIL
$10.6B
| $1.57M | 0.01% |
31,870
-106,897
| -77% | -$4.91M |
|
441
Magna International
MGA
$18.8B
| $1.5M | 0.01% |
38,754
-11,330
| -23% | -$400K |
|
442
Cabot Corp
CBT
$4.52B
| $1.45M | 0.01% |
19,349
+3,383
| +21% | +$259K |
|
443
Darden Restaurants
DRI
$24.4B
| $1.45M | 0.01% |
6,636
-11,976
| -64% | -$2.49M |
|
444
Dentsply Sirona
XRAY
$2.43B
| $1.43M | 0.01% |
+90,127
| New | +$1.35M |
|
|
SF
445
Stifel
SF
$12.6B
| $1.43M | 0.01% |
20,651
-68,041
| -77% | -$4.18M |
|
446
Dollar General
DG
$27.9B
| $1.42M | 0.01% |
12,389
-4,072
| -25% | -$404K |
|
447
Idexx Laboratories
IDXX
$46.2B
| $1.41M | 0.01% |
2,625
-809
| -24% | -$387K |
|
448
Hershey
HSY
$36.6B
| $1.39M | 0.01% |
8,350
-2,594
| -24% | -$428K |
|
449
Chemed
CHE
$7.22B
| $1.38M | 0.01% |
2,840
-4,827
| -63% | -$2.75M |
|
450
ResMed
RMD
$30.7B
| $1.36M | 0.01% |
5,254
-114,077
| -96% | -$27.2M |
|
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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.