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 | |
|---|---|---|---|---|---|---|
676
Eli Lilly
LLY
$1.06T
| – | – |
-2,746
| Closed | -$2.27M |
|
|
LNW
677
DELISTED
Light & Wonder
LNW
| – | – |
-6,011
| Closed | -$521K |
|
678
Louisiana-Pacific
LPX
$5.49B
| – | – |
-11,515
| Closed | -$1.06M |
|
679
Lumen
LUMN
$6.44B
| – | – |
-307,098
| Closed | -$1.2M |
|
680
Southwest Airlines
LUV
$23B
| – | – |
-853,062
| Closed | -$28.6M |
|
681
ManpowerGroup
MAN
$2.63B
| – | – |
-10,503
| Closed | -$608K |
|
682
iShares MSCI China ETF
MCHI
$6.38B
| – | – |
-511,947
| Closed | -$27.8M |
|
683
Moody's
MCO
$82.7B
| – | – |
-8,808
| Closed | -$4.1M |
|
684
Magnolia Oil & Gas
MGY
$5.94B
| – | – |
-17,424
| Closed | -$440K |
|
685
Mohawk Industries
MHK
$9.22B
| – | – |
-16,168
| Closed | -$1.85M |
|
686
Merit Medical Systems
MMSI
$5.32B
| – | – |
-2,440
| Closed | -$258K |
|
687
Monolithic Power Systems
MPWR
$68.9B
| – | – |
-3,276
| Closed | -$1.9M |
|
688
Minerals Technologies
MTX
$2.34B
| – | – |
-13,575
| Closed | -$863K |
|
689
nCino
NCNO
$2.1B
| – | – |
-61,285
| Closed | -$1.68M |
|
690
Nordson
NDSN
$17.3B
| – | – |
-1,097
| Closed | -$221K |
|
691
NIO
NIO
$11.9B
| – | – |
-1,749,081
| Closed | -$6.66M |
|
692
Northern Oil and Gas
NOG
$2.35B
| – | – |
-285,195
| Closed | -$8.62M |
|
693
Nucor
NUE
$62.1B
| – | – |
-112,647
| Closed | -$13.6M |
|
694
Nexstar Media Group
NXST
$5.92B
| – | – |
-39,363
| Closed | -$7.05M |
|
695
Realty Income
O
$59.1B
| – | – |
-3,687
| Closed | -$214K |
|
696
Otter Tail
OTTR
$3.94B
| – | – |
-2,526
| Closed | -$203K |
|
|
PARA
697
DELISTED
Paramount Global Class B
PARA
| – | – |
-599,772
| Closed | -$7.17M |
|
698
PG&E
PCG
$38.5B
| – | – |
-1,198,377
| Closed | -$20.6M |
|
|
699
Pinduoduo
PDD
$131B
| – | – |
-1,742,717
| Closed | -$206M |
|
700
Plexus
PLXS
$7.23B
| – | – |
-1,807
| Closed | -$232K |
|
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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.