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 | |
|---|---|---|---|---|---|---|
526
ESCO Technologies
ESE
$7.92B
| $463K | ﹤0.01% |
+2,413
| New | +$412K |
|
527
BILL Holdings
BILL
$4.78B
| $454K | ﹤0.01% |
9,819
-32,720
| -77% | -$1.45M |
|
528
Maximus
MMS
$3.1B
| $450K | ﹤0.01% |
6,415
-6,193
| -49% | -$435K |
|
529
Stellantis
STLA
$20.8B
| $439K | ﹤0.01% |
+43,812
| New | +$432K |
|
530
Celsius Holdings
CELH
$7.03B
| $436K | ﹤0.01% |
9,409
-2,577
| -22% | -$99.3K |
|
531
Credit Acceptance
CACC
$6.08B
| $433K | ﹤0.01% |
849
-2,762
| -76% | -$1.36M |
|
532
Align Technology
ALGN
$12.3B
| $428K | ﹤0.01% |
2,263
-706
| -24% | -$125K |
|
533
Dover
DOV
$28.4B
| $426K | ﹤0.01% |
2,323
-591
| -20% | -$103K |
|
534
BellRing Brands
BRBR
$1.34B
| $423K | ﹤0.01% |
7,306
-2,447
| -25% | -$163K |
|
535
Thomson Reuters
TRI
$44.1B
| $422K | ﹤0.01% |
2,072
-120,459
| -98% | -$22.9M |
|
536
Genworth Financial
GNW
$3.71B
| $407K | ﹤0.01% |
52,266
+5,738
| +12% | +$40.1K |
|
537
Lamb Weston
LW
$7.19B
| $403K | ﹤0.01% |
7,777
-2,504
| -24% | -$134K |
|
538
Encompass Health
EHC
$12.4B
| $400K | ﹤0.01% |
3,263
-970
| -23% | -$111K |
|
539
SharkNinja
SN
$26.1B
| $399K | ﹤0.01% |
4,027
-1,250
| -24% | -$108K |
|
540
Fidelity National Financial
FNF
$13.5B
| $392K | ﹤0.01% |
7,001
-14,616
| -68% | -$855K |
|
541
MGIC Investment
MTG
$6.25B
| $391K | ﹤0.01% |
14,055
-11,503
| -45% | -$296K |
|
542
e.l.f. Beauty
ELF
$5.81B
| $385K | ﹤0.01% |
3,090
-1,009
| -25% | -$86.1K |
|
543
Bright Horizons
BFAM
$3.86B
| $383K | ﹤0.01% |
3,095
-448
| -13% | -$54.9K |
|
544
Blackstone
BX
$110B
| $369K | ﹤0.01% |
2,467
-2,061
| -46% | -$283K |
|
545
New York Times
NYT
$10.2B
| $364K | ﹤0.01% |
+6,501
| New | +$345K |
|
546
Clean Harbors
CLH
$16.3B
| $361K | ﹤0.01% |
+1,560
| New | +$342K |
|
547
Qualys
QLYS
$6.35B
| $358K | ﹤0.01% |
+2,506
| New | +$332K |
|
548
SSR Mining
SSRM
$6.48B
| $345K | ﹤0.01% |
27,075
+1,820
| +7% | +$20.5K |
|
549
Campbell Soup
CPB
$6.87B
| $336K | ﹤0.01% |
10,964
-3,387
| -24% | -$119K |
|
550
MDU Resources
MDU
$4.32B
| $331K | ﹤0.01% |
19,846
-174,818
| -90% | -$2.94M |
|
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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.