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 | |
|---|---|---|---|---|---|---|
651
Interactive Brokers
IBKR
$39.6B
| – | – |
-185,216
| Closed | -$7.67M |
|
652
Imperial Oil
IMO
$60.4B
| – | – |
-6,591
| Closed | -$476K |
|
653
Samsara
IOT
$23.8B
| – | – |
-30,118
| Closed | -$1.15M |
|
|
IPG
654
DELISTED
Interpublic Group of Companies
IPG
| – | – |
-107,923
| Closed | -$2.93M |
|
655
iQIYI
IQ
$1.28B
| – | – |
-15,858
| Closed | -$35.8K |
|
656
Iridium Communications
IRDM
$5.29B
| – | – |
-81,731
| Closed | -$2.23M |
|
657
Gartner
IT
$11.7B
| – | – |
-10,900
| Closed | -$4.58M |
|
658
Invesco
IVZ
$13.9B
| – | – |
-70,921
| Closed | -$1.08M |
|
659
Jazz Pharmaceuticals
JAZZ
$16.7B
| – | – |
-250,947
| Closed | -$31.2M |
|
660
JB Hunt Transport Services
JBHT
$25.2B
| – | – |
-40,674
| Closed | -$6.02M |
|
661
JD.com
JD
$44.5B
| – | – |
-2,786,833
| Closed | -$115M |
|
662
Jefferies Financial Group
JEF
$13.1B
| – | – |
-120,103
| Closed | -$6.43M |
|
663
KBR
KBR
$4.8B
| – | – |
-28,115
| Closed | -$1.4M |
|
664
Kyndryl
KD
$3.05B
| – | – |
-13,201
| Closed | -$415K |
|
665
Kennametal
KMT
$2.52B
| – | – |
-142,348
| Closed | -$3.03M |
|
666
Kinetik
KNTK
$3.62B
| – | – |
-110,940
| Closed | -$5.76M |
|
667
Knight Transportation
KNX
$11.4B
| – | – |
-103,514
| Closed | -$4.5M |
|
668
Kilroy Realty
KRC
$4.42B
| – | – |
-8,653
| Closed | -$283K |
|
669
Kontoor Brands
KTB
$4.26B
| – | – |
-16,167
| Closed | -$1.04M |
|
|
MZTI
670
The Marzetti Company
MZTI
$3.11B
| – | – |
-1,480
| Closed | -$259K |
|
671
Legend Biotech
LEGN
$4.01B
| – | – |
-225,449
| Closed | -$7.65M |
|
672
Levi Strauss
LEVI
$9.39B
| – | – |
-10,735
| Closed | -$167K |
|
673
Li Auto
LI
$12.7B
| – | – |
-12,826
| Closed | -$323K |
|
674
Lennox International
LII
$15.2B
| – | – |
-383
| Closed | -$215K |
|
675
LKQ Corp
LKQ
$6.29B
| – | – |
-42,433
| Closed | -$1.81M |
|
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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.