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 | |
|---|---|---|---|---|---|---|
626
Coty
COTY
$2.48B
| $3.5M | 0.01% |
1,137,305
+941,529
| +481% | +$3.42M |
|
627
QuantumScape Corp
QS
$3.74B
| $3.5M | 0.01% |
336,121
+69,968
| +26% | +$965K |
|
|
CYBR
628
DELISTED
CyberArk
CYBR
| $3.47M | 0.01% |
7,790
-53
| -0.7% | -$25.5K |
|
629
Calix
CALX
$2.39B
| $3.47M | 0.01% |
65,536
+29,642
| +83% | +$1.73M |
|
|
CCC
630
CCC Intelligent Solutions
CCC
$4.08B
| $3.46M | 0.01% |
434,661
+390,396
| +882% | +$3.18M |
|
631
Oneok
OKE
$54.5B
| $3.44M | 0.01% |
+46,860
| New | +$3.32M |
|
632
FirstCash
FCFS
$8.78B
| $3.44M | 0.01% |
21,578
+9,469
| +78% | +$1.49M |
|
633
Asbury Automotive
ABG
$3.85B
| $3.43M | 0.01% |
14,747
-4,968
| -25% | -$1.17M |
|
|
NB
634
NioCorp Developments
NB
$780M
| $3.42M | 0.01% |
+645,889
| New | +$4.44M |
|
635
Bausch Health
BHC
$2.34B
| $3.4M | 0.01% |
489,441
+52,888
| +12% | +$348K |
|
636
ADMA Biologics
ADMA
$2.22B
| $3.4M | 0.01% |
186,471
+126,189
| +209% | +$2.13M |
|
637
Kenvue
KVUE
$36.9B
| $3.38M | 0.01% |
196,115
+75,162
| +62% | +$1.23M |
|
638
Jones Lang LaSalle
JLL
$16.7B
| $3.37M | 0.01% |
10,028
+5,065
| +102% | +$1.59M |
|
639
Armstrong World Industries
AWI
$7.84B
| $3.37M | 0.01% |
17,650
-13,024
| -42% | -$2.49M |
|
640
Booz Allen Hamilton
BAH
$9.15B
| $3.37M | 0.01% |
39,964
-39,045
| -49% | -$3.49M |
|
641
ScottsMiracle-Gro
SMG
$3.66B
| $3.36M | 0.01% |
57,620
+26,560
| +86% | +$1.49M |
|
|
OKLO
642
Oklo
OKLO
$8.42B
| $3.36M | 0.01% |
46,836
+21,243
| +83% | +$2.37M |
|
643
Gates Industrial Corporation Ltd.
GTES
$7.15B
| $3.36M | 0.01% |
+156,512
| New | +$3.61M |
|
644
Hormel Foods
HRL
$13.8B
| $3.36M | 0.01% |
141,670
+58,533
| +70% | +$1.37M |
|
645
Landstar System
LSTR
$6.21B
| $3.32M | 0.01% |
23,130
+8,034
| +53% | +$1.07M |
|
646
WD-40
WDFC
$3.15B
| $3.31M | 0.01% |
16,825
+7,240
| +76% | +$1.43M |
|
647
BridgeBio Pharma
BBIO
$16.5B
| $3.3M | 0.01% |
+43,172
| New | +$2.83M |
|
648
Dover
DOV
$28.4B
| $3.3M | 0.01% |
16,894
-33,981
| -67% | -$6.19M |
|
649
Alight
ALIT
$407M
| $3.28M | 0.01% |
84,148
+74,304
| +755% | +$3.7M |
|
650
Visteon
VC
$2.78B
| $3.26M | 0.01% |
34,305
-10,716
| -24% | -$1.14M |
|
Similar funds
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.