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 | |
|---|---|---|---|---|---|---|
676
Global E Online
GLBE
$7.11B
| $2.93M | 0.01% |
74,638
+55,708
| +294% | +$2.07M |
|
677
MACOM Technology Solutions
MTSI
$23.7B
| $2.93M | 0.01% |
17,122
-10,070
| -37% | -$1.6M |
|
678
NexGen Energy
NXE
$6.99B
| $2.92M | 0.01% |
317,134
-660,143
| -68% | -$5.83M |
|
679
Southwest Airlines
LUV
$23B
| $2.92M | 0.01% |
+70,551
| New | +$2.46M |
|
|
PCH
680
DELISTED
PotlatchDeltic
PCH
| $2.9M | 0.01% |
+72,876
| New | +$2.95M |
|
681
10x Genomics
TXG
$6.61B
| $2.9M | 0.01% |
+177,734
| New | +$2.68M |
|
682
Guardant Health
GH
$22.6B
| $2.89M | 0.01% |
28,291
+24,281
| +606% | +$2.17M |
|
683
Trimble
TRMB
$13.9B
| $2.89M | 0.01% |
+36,848
| New | +$2.94M |
|
684
Hudbay
HBM
$12.3B
| $2.87M | 0.01% |
144,349
-13,864
| -9% | -$234K |
|
|
AMWD
685
DELISTED
American Woodmark
AMWD
| $2.86M | 0.01% |
53,070
+33,536
| +172% | +$1.96M |
|
686
Portland General Electric
POR
$5.77B
| $2.84M | 0.01% |
59,146
+30,001
| +103% | +$1.42M |
|
|
CIVI
687
DELISTED
Civitas Resources
CIVI
| $2.83M | 0.01% |
+104,553
| New | +$3.03M |
|
688
LegalZoom.com
LZ
$988M
| $2.82M | 0.01% |
284,426
+123,706
| +77% | +$1.23M |
|
|
CSW
689
CSW Industrials
CSW
$5.71B
| $2.82M | 0.01% |
+9,593
| New | +$2.56M |
|
690
Zimmer Biomet
ZBH
$18.4B
| $2.81M | 0.01% |
31,228
+18,679
| +149% | +$1.77M |
|
691
FMC
FMC
$1.33B
| $2.8M | 0.01% |
+201,798
| New | +$3.85M |
|
692
Essential Utilities
WTRG
$11.4B
| $2.8M | 0.01% |
+72,909
| New | +$2.87M |
|
693
General Mills
GIS
$19.7B
| $2.79M | 0.01% |
60,003
+27,516
| +85% | +$1.31M |
|
694
Rapid7
RPD
$773M
| $2.77M | 0.01% |
182,021
+32,960
| +22% | +$542K |
|
695
Cedar Fair
FUN
$1.67B
| $2.77M | 0.01% |
+180,290
| New | +$3.26M |
|
696
TKO Group
TKO
$13.6B
| $2.76M | 0.01% |
13,198
-8,672
| -40% | -$1.69M |
|
697
Peabody Energy
BTU
$2.9B
| $2.76M | 0.01% |
92,848
+75,334
| +430% | +$2.21M |
|
698
Nordson
NDSN
$17.3B
| $2.73M | 0.01% |
11,364
+741
| +7% | +$174K |
|
|
SNV
699
DELISTED
Synovus
SNV
| $2.73M | 0.01% |
54,509
-189,496
| -78% | -$9.11M |
|
700
On Holding
ONON
$12.5B
| $2.7M | 0.01% |
58,127
-84,609
| -59% | -$3.65M |
|
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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.