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 |
iShares Core S&P 500 ETF
IVV
|
+$1.12B |
| 2 |
Lam Research
LRCX
|
+$193M |
| 3 |
Adobe
ADBE
|
+$191M |
| 4 |
Mastercard
MA
|
+$138M |
| 5 |
Workday
WDAY
|
+$137M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$999M |
| 2 |
NVIDIA
NVDA
|
+$823M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$617M |
| 4 |
SPDR Gold Trust
GLD
|
+$337M |
| 5 |
Microsoft
MSFT
|
+$315M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.56% |
| 2 | Financials | 12.71% |
| 3 | Consumer Discretionary | 8.78% |
| 4 | Healthcare | 7.77% |
| 5 | Communication Services | 7.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
626
Post Holdings
POST
$3.57B
| $2.96M | 0.01% |
27,506
+24,696
| +879% | +$2.65M |
|
|
HBI
627
DELISTED
Hanesbrands
HBI
| $2.94M | 0.01% |
+446,219
| New | +$2.46M |
|
|
DAY
628
DELISTED
Dayforce
DAY
| $2.93M | 0.01% |
+42,601
| New | +$2.65M |
|
629
Itron
ITRI
$4.54B
| $2.93M | 0.01% |
+23,542
| New | +$2.99M |
|
630
Upbound Group
UPBD
$1.16B
| $2.91M | 0.01% |
+123,302
| New | +$3.04M |
|
631
Leggett & Platt
LEG
$1.31B
| $2.91M | 0.01% |
+327,368
| New | +$3.12M |
|
632
Amer Sports
AS
$21.4B
| $2.9M | 0.01% |
+83,380
| New | +$3.14M |
|
633
Haemonetics
HAE
$4B
| $2.88M | 0.01% |
59,104
+12,820
| +28% | +$794K |
|
634
Churchill Downs
CHDN
$6.12B
| $2.87M | 0.01% |
+29,631
| New | +$3.05M |
|
635
Idacorp
IDA
$8.2B
| $2.87M | 0.01% |
21,680
-65,469
| -75% | -$8.11M |
|
636
National Vision
EYE
$1.81B
| $2.86M | 0.01% |
+98,144
| New | +$2.41M |
|
637
Avery Dennison
AVY
$13.4B
| $2.86M | 0.01% |
+17,657
| New | +$3.04M |
|
|
OKLO
638
Oklo
OKLO
$8.42B
| $2.86M | 0.01% |
+25,593
| New | +$2M |
|
639
Ionis Pharmaceuticals
IONS
$9.4B
| $2.85M | 0.01% |
+43,578
| New | +$2.13M |
|
640
Radian Group
RDN
$4.93B
| $2.84M | 0.01% |
+78,438
| New | +$2.73M |
|
641
Datadog
DDOG
$84B
| $2.84M | 0.01% |
+19,943
| New | +$2.75M |
|
642
Bausch Health
BHC
$2.34B
| $2.82M | 0.01% |
436,553
-308,010
| -41% | -$2.11M |
|
|
VBTX
643
DELISTED
Veritex Holdings
VBTX
| $2.81M | 0.01% |
+83,774
| New | +$2.7M |
|
644
e.l.f. Beauty
ELF
$5.81B
| $2.8M | 0.01% |
21,106
+18,016
| +583% | +$2.22M |
|
645
Rapid7
RPD
$773M
| $2.79M | 0.01% |
+149,061
| New | +$3.15M |
|
646
Murphy USA
MUSA
$9.61B
| $2.79M | 0.01% |
+7,195
| New | +$2.85M |
|
647
Alarm.com
ALRM
$2.85B
| $2.78M | 0.01% |
+52,383
| New | +$2.92M |
|
648
Clearway Energy Class C
CWEN
$6.7B
| $2.76M | 0.01% |
97,686
+88,829
| +1,003% | +$2.69M |
|
649
Trupanion
TRUP
$1.18B
| $2.73M | 0.01% |
+63,038
| New | +$3M |
|
650
Eaton
ETN
$174B
| $2.72M | 0.01% |
+7,270
| New | +$2.64M |
|
Similar funds
Ray Dalio's Q3 2025 Portfolio in Review
As of Q3 2025, Ray Dalio held 1,078 positions worth $25.5B, up 3% from $24.8B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Ray Dalio withdrew a net $795M in Q3 2025, closing 64 positions and reducing 194 holdings. Its most notable exit was SPDR Gold Trust, an estimated $337M position sold in full.
By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 29% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Ray Dalio opened a new position in Reddit worth $142M.
- Ray Dalio's largest Q3 2025 buy was Reddit: 617,208 shares worth $142M.
- Ray Dalio added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $1.12B increase.
- Ray Dalio's biggest Q3 2025 reduction was iShares Core MSCI Emerging Markets ETF, cutting an estimated $999M.
- Ray Dalio fully exited SPDR Gold Trust in Q3 2025, selling an estimated $337M.
- Ray Dalio's ten largest holdings make up 33% of its $25.5B portfolio in Q3 2025.
- Ray Dalio opened 493 new positions and closed 64 in Q3 2025.
- Ray Dalio's portfolio value rose 3% quarter-over-quarter to $25.5B.
Based on Bridgewater Associates's 13F filing for Q3 2025, filed 13 Nov 2025.