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 | |
|---|---|---|---|---|---|---|
576
Carrier Global
CARR
$52.8B
| $235K | ﹤0.01% |
3,216
-1,262
| -28% | -$85.6K |
|
577
Option Care Health
OPCH
$3.56B
| $230K | ﹤0.01% |
7,076
-4,177
| -37% | -$135K |
|
578
Canadian Imperial Bank of Commerce
CM
$108B
| $210K | ﹤0.01% |
2,958
-65,120
| -96% | -$4.19M |
|
579
Guardant Health
GH
$22.6B
| $201K | ﹤0.01% |
3,870
-1,200
| -24% | -$53.6K |
|
580
Amcor
AMCR
$22.1B
| $178K | ﹤0.01% |
3,882
+1,577
| +68% | +$72.7K |
|
581
Blue Owl Capital
OBDC
$5.74B
| $176K | ﹤0.01% |
12,305
-22,892
| -65% | -$325K |
|
582
Flowers Foods
FLO
$1.57B
| $176K | ﹤0.01% |
11,034
-10,861
| -50% | -$187K |
|
|
CGAU
583
Centerra Gold
CGAU
$4.15B
| $172K | ﹤0.01% |
23,875
-3,759
| -14% | -$25.7K |
|
|
URG
584
Ur-Energy
URG
$556M
| $160K | ﹤0.01% |
152,149
-41,334
| -21% | -$33K |
|
585
Teladoc Health
TDOC
$1.3B
| $90.9K | ﹤0.01% |
10,440
-2,358
| -18% | -$17.1K |
|
586
Asbury Automotive
ABG
$3.85B
| – | – |
-2,829
| Closed | -$625K |
|
587
Accenture
ACN
$108B
| – | – |
-3,420
| Closed | -$1.07M |
|
588
C3.ai
AI
$1.59B
| – | – |
-10,136
| Closed | -$213K |
|
589
Assurant
AIZ
$14.3B
| – | – |
-24,945
| Closed | -$5.23M |
|
590
Applied Materials
AMAT
$428B
| – | – |
-6,320
| Closed | -$917K |
|
591
Ametek
AME
$58.2B
| – | – |
-1,266
| Closed | -$218K |
|
592
Aon
AON
$76B
| – | – |
-2,976
| Closed | -$1.19M |
|
593
APA Corp
APA
$13.3B
| – | – |
-517,553
| Closed | -$10.9M |
|
594
AppFolio
APPF
$7.04B
| – | – |
-46,368
| Closed | -$10.2M |
|
595
ArcBest
ARCB
$3.08B
| – | – |
-4,230
| Closed | -$299K |
|
596
Autohome
ATHM
$2.62B
| – | – |
-88,490
| Closed | -$2.45M |
|
597
ATI
ATI
$31.1B
| – | – |
-318,044
| Closed | -$16.5M |
|
|
AVDX
598
DELISTED
AvidXchange
AVDX
| – | – |
-18,032
| Closed | -$153K |
|
599
American Express
AXP
$230B
| – | – |
-27,789
| Closed | -$7.48M |
|
600
AutoZone
AZO
$51.1B
| – | – |
-1,639
| Closed | -$6.25M |
|
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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.