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 | |
|---|---|---|---|---|---|---|
|
601
Alibaba
BABA
$308B
| – | – |
-5,660,258
| Closed | -$748M |
|
602
Boise Cascade
BCC
$3.02B
| – | – |
-3,719
| Closed | -$365K |
|
603
KE Holdings
BEKE
$18.8B
| – | – |
-881,219
| Closed | -$17.7M |
|
|
604
Baidu
BIDU
$37.2B
| – | – |
-2,076,305
| Closed | -$191M |
|
605
Baker Hughes
BKR
$61.1B
| – | – |
-340,111
| Closed | -$14.9M |
|
606
BioNTech
BNTX
$23.5B
| – | – |
-14,319
| Closed | -$1.3M |
|
607
Kanzhun
BZ
$7.36B
| – | – |
-461,559
| Closed | -$8.85M |
|
608
CACI
CACI
$14.2B
| – | – |
-42,642
| Closed | -$15.6M |
|
609
Carnival Corporation Ltd
CCL
$39.7B
| – | – |
-87,572
| Closed | -$1.71M |
|
610
Century Aluminum
CENX
$5.07B
| – | – |
-73,514
| Closed | -$1.36M |
|
611
Certara
CERT
$1.25B
| – | – |
-10,270
| Closed | -$102K |
|
612
Choice Hotels
CHH
$4.8B
| – | – |
-4,100
| Closed | -$544K |
|
|
CIVI
613
DELISTED
Civitas Resources
CIVI
| – | – |
-94,018
| Closed | -$3.28M |
|
614
Canadian Natural Resources
CNQ
$94.9B
| – | – |
-363,211
| Closed | -$11.2M |
|
615
Coursera
COUR
$1.54B
| – | – |
-11,341
| Closed | -$75.5K |
|
616
Capri Holdings
CPRI
$1.74B
| – | – |
-14,789
| Closed | -$292K |
|
617
Camden Property Trust
CPT
$11.1B
| – | – |
-4,114
| Closed | -$503K |
|
618
Cintas
CTAS
$81.3B
| – | – |
-1,148
| Closed | -$236K |
|
619
Cenovus Energy
CVE
$52.1B
| – | – |
-803,018
| Closed | -$11.2M |
|
620
Chevron
CVX
$366B
| – | – |
-483,055
| Closed | -$80.8M |
|
621
Delta Air Lines
DAL
$60.1B
| – | – |
-1,602,890
| Closed | -$69.9M |
|
622
DuPont de Nemours
DD
$19.2B
| – | – |
-5,227
| Closed | -$490K |
|
623
Datadog
DDOG
$83.3B
| – | – |
-57,523
| Closed | -$5.71M |
|
624
Deckers Outdoor
DECK
$13.3B
| – | – |
-390,252
| Closed | -$43.6M |
|
|
DFS
625
DELISTED
Discover Financial Services
DFS
| – | – |
-17,723
| Closed | -$3.03M |
|
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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.