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
|
+$1.28B |
| 2 |
Oracle
ORCL
|
+$349M |
| 3 |
NVIDIA
NVDA
|
+$252M |
| 4 |
Micron Technology
MU
|
+$204M |
| 5 |
Amazon
AMZN
|
+$188M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$304M |
| 2 |
Uber
UBER
|
+$208M |
| 3 |
FISV
Fiserv Inc
FISV
|
+$205M |
| 4 |
Meta Platforms (Facebook)
META
|
+$129M |
| 5 |
Wells Fargo
WFC
|
+$121M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.43% |
| 2 | Financials | 11.06% |
| 3 | Consumer Discretionary | 8.45% |
| 4 | Healthcare | 6.54% |
| 5 | Industrials | 6.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
501
Centrus Energy
LEU
$3.82B
| $5.52M | 0.02% |
22,730
+14,136
| +164% | +$4.27M |
|
502
Amcor
AMCR
$22.1B
| $5.52M | 0.02% |
132,315
+66,238
| +100% | +$2.73M |
|
503
APi Group
APG
$18B
| $5.5M | 0.02% |
143,757
+25,244
| +21% | +$933K |
|
504
Restaurant Brands International
QSR
$25.8B
| $5.47M | 0.02% |
80,173
-33,738
| -30% | -$2.32M |
|
505
Dentsply Sirona
XRAY
$2.43B
| $5.45M | 0.02% |
476,608
+26,186
| +6% | +$307K |
|
506
BJs Wholesale Club
BJ
$12.3B
| $5.44M | 0.02% |
60,401
-4,013
| -6% | -$368K |
|
507
Consolidated Edison
ED
$39.9B
| $5.4M | 0.02% |
54,358
-13,933
| -20% | -$1.38M |
|
508
Xylem
XYL
$28.1B
| $5.39M | 0.02% |
39,593
+32,635
| +469% | +$4.69M |
|
509
Ionis Pharmaceuticals
IONS
$9.4B
| $5.36M | 0.02% |
67,706
+24,128
| +55% | +$1.82M |
|
510
Flywire
FLYW
$2.16B
| $5.35M | 0.02% |
377,901
+320,844
| +562% | +$4.39M |
|
511
Payoneer
PAYO
$2.41B
| $5.33M | 0.02% |
947,846
-5,908
| -0.6% | -$34.2K |
|
512
Aflac
AFL
$62.6B
| $5.29M | 0.02% |
+47,955
| New | +$5.28M |
|
513
Liberty Media Series C
FWONK
$25.8B
| $5.28M | 0.02% |
53,631
-3,357
| -6% | -$329K |
|
514
Copa Holdings
CPA
$5.8B
| $5.26M | 0.02% |
43,601
-20,083
| -32% | -$2.46M |
|
515
Hubbell
HUBB
$27.2B
| $5.25M | 0.02% |
11,824
+1,505
| +15% | +$659K |
|
516
Whirlpool
WHR
$2.82B
| $5.23M | 0.02% |
+72,503
| New | +$5.35M |
|
517
Towne Bank
TOWN
$3.42B
| $5.21M | 0.02% |
156,002
+66,943
| +75% | +$2.25M |
|
518
Delta Air Lines
DAL
$60.1B
| $5.2M | 0.02% |
74,859
-16,110
| -18% | -$1.01M |
|
519
CarGurus
CARG
$3.47B
| $5.19M | 0.02% |
135,242
+28,938
| +27% | +$1.04M |
|
520
Watts Water Technologies
WTS
$13.1B
| $5.19M | 0.02% |
18,785
-841
| -4% | -$232K |
|
521
Ivanhoe Electric
IE
$1.74B
| $5.18M | 0.02% |
324,413
+69,309
| +27% | +$992K |
|
522
Element Solutions
ESI
$9.23B
| $5.18M | 0.02% |
+207,388
| New | +$5.39M |
|
523
Accenture
ACN
$108B
| $5.18M | 0.02% |
19,306
-16,857
| -47% | -$4.28M |
|
524
Robert Half
RHI
$4.37B
| $5.14M | 0.02% |
189,167
+127,153
| +205% | +$3.63M |
|
525
McCormick & Company Non-Voting
MKC
$14.2B
| $5.08M | 0.02% |
74,576
-44,505
| -37% | -$2.96M |
|
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Ray Dalio's Q4 2025 Portfolio in Review
As of Q4 2025, Ray Dalio held 1,205 positions worth $27.4B, up 7.4% from $25.5B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio deployed $1.36B of net new capital in Q4 2025, opening 191 new positions and adding to 450 existing holdings. Its largest new stake was Arm: 326,320 shares worth $35.7M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was Alphabet (Google) Class A, an estimated $304M trimmed.
- Ray Dalio's largest Q4 2025 buy was Arm: 326,320 shares worth $35.7M.
- Ray Dalio added most to State Street SPDR S&P 500 ETF Trust in Q4 2025, an estimated $1.28B increase.
- Ray Dalio's biggest Q4 2025 reduction was Alphabet (Google) Class A, cutting an estimated $304M.
- Ray Dalio fully exited Fiserv Inc in Q4 2025, selling an estimated $205M.
- Ray Dalio's ten largest holdings make up 36% of its $27.4B portfolio in Q4 2025.
- Ray Dalio opened 191 new positions and closed 165 in Q4 2025.
- Ray Dalio's portfolio value rose 7.4% quarter-over-quarter to $27.4B.
Based on Bridgewater Associates's 13F filing for Q4 2025, filed 13 Feb 2026.