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 | |
|---|---|---|---|---|---|---|
451
Church & Dwight Co
CHD
$24.5B
| $1.34M | 0.01% |
13,952
-4,368
| -24% | -$431K |
|
452
Constellation Brands
STZ
$23.2B
| $1.34M | 0.01% |
8,233
-3,213
| -28% | -$576K |
|
453
UGI
UGI
$7.33B
| $1.32M | 0.01% |
36,252
-98,044
| -73% | -$3.37M |
|
|
MCW
454
DELISTED
Mister Car Wash
MCW
| $1.31M | 0.01% |
+217,205
| New | +$1.52M |
|
455
Teradata
TDC
$2.55B
| $1.29M | 0.01% |
+57,747
| New | +$1.26M |
|
456
Evercore
EVR
$11.8B
| $1.28M | 0.01% |
4,743
-40,543
| -90% | -$8.92M |
|
457
Kraft Heinz
KHC
$30B
| $1.25M | 0.01% |
48,439
-16,078
| -25% | -$446K |
|
458
TransAlta
TAC
$3.93B
| $1.23M | ﹤0.01% |
+113,815
| New | +$1.08M |
|
459
Crown Holdings
CCK
$13.1B
| $1.21M | ﹤0.01% |
11,740
-6,476
| -36% | -$617K |
|
460
Emerson Electric
EMR
$88.3B
| $1.18M | ﹤0.01% |
+8,872
| New | +$1.02M |
|
461
Dollar Tree
DLTR
$25.2B
| $1.17M | ﹤0.01% |
11,790
-4,280
| -27% | -$369K |
|
462
Meritage Homes
MTH
$4.86B
| $1.16M | ﹤0.01% |
17,306
+12,639
| +271% | +$838K |
|
463
Neurocrine Biosciences
NBIX
$16.6B
| $1.12M | ﹤0.01% |
8,943
-78,295
| -90% | -$8.98M |
|
464
J.M. Smucker
SJM
$12.8B
| $1.12M | ﹤0.01% |
11,404
-124,545
| -92% | -$13.7M |
|
465
GE HealthCare
GEHC
$32.4B
| $1.12M | ﹤0.01% |
15,066
-111,996
| -88% | -$7.8M |
|
466
NVR
NVR
$17B
| $1.09M | ﹤0.01% |
147
-1,385
| -90% | -$9.93M |
|
|
JHG
467
DELISTED
Janus Henderson
JHG
| $1.08M | ﹤0.01% |
27,926
-22,606
| -45% | -$797K |
|
468
Estee Lauder
EL
$32B
| $1.06M | ﹤0.01% |
13,180
-4,351
| -25% | -$280K |
|
469
Casey's General Stores
CASY
$30.9B
| $1.06M | ﹤0.01% |
2,086
-669
| -24% | -$308K |
|
470
Nextpower Inc
NXT
$15.7B
| $1.06M | ﹤0.01% |
19,416
-96,066
| -83% | -$4.82M |
|
471
Scotiabank
BNS
$108B
| $1.03M | ﹤0.01% |
18,739
-133,317
| -88% | -$6.79M |
|
472
Cavco Industries
CVCO
$4.55B
| $1.02M | ﹤0.01% |
2,348
+1,819
| +344% | +$852K |
|
473
Korn Ferry
KFY
$4.28B
| $968K | ﹤0.01% |
13,194
-17,337
| -57% | -$1.15M |
|
|
EFOR
474
Everforth Inc
EFOR
$1.32B
| $964K | ﹤0.01% |
19,316
-21,514
| -53% | -$1.18M |
|
475
FirstCash
FCFS
$8.78B
| $952K | ﹤0.01% |
+7,044
| New | +$901K |
|
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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.