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 |
Alibaba
BABA
|
+$623M |
| 2 |
SPDR Gold Trust
GLD
|
+$293M |
| 3 |
ServiceNow
NOW
|
+$172M |
| 4 |
Booking.com
BKNG
|
+$170M |
| 5 |
Baidu
BIDU
|
+$169M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$2.87B |
| 2 |
Applovin
APP
|
+$168M |
| 3 |
Meta Platforms (Facebook)
META
|
+$126M |
| 4 |
McKesson
MCK
|
+$107M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$105M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.81% |
| 2 | Consumer Discretionary | 12.96% |
| 3 | Financials | 12.67% |
| 4 | Communication Services | 7.72% |
| 5 | Healthcare | 7.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GMS
726
DELISTED
GMS Inc
GMS
| – | – |
-12,276
| Closed | -$1.04M |
|
|
GRMN
727
Garmin
GRMN
$60B
| – | – |
-20,758
| Closed | -$4.28M |
|
728
Halliburton
HAL
$26.6B
| – | – |
-25,799
| Closed | -$701K |
|
729
Helen of Troy
HELE
$693M
| – | – |
-4,325
| Closed | -$259K |
|
|
HES
730
DELISTED
Hess
HES
| – | – |
-89,517
| Closed | -$11.9M |
|
731
Herbalife
HLF
$1.29B
| – | – |
-18,806
| Closed | -$126K |
|
732
Houlihan Lokey
HLI
$9.02B
| – | – |
-6,237
| Closed | -$1.08M |
|
733
Hamilton Lane
HLNE
$5.57B
| – | – |
-5,285
| Closed | -$782K |
|
734
Herc Holdings
HRI
$5.61B
| – | – |
-7,556
| Closed | -$1.43M |
|
735
ICU Medical
ICUI
$4.61B
| – | – |
-2,415
| Closed | -$375K |
|
736
Interparfums
IPAR
$3.94B
| – | – |
-3,487
| Closed | -$459K |
|
737
Iron Mountain
IRM
$36.1B
| – | – |
-2,074
| Closed | -$218K |
|
738
iRhythm Holdings
IRTC
$4.2B
| – | – |
-3,364
| Closed | -$303K |
|
739
Integer Holdings
ITGR
$4.26B
| – | – |
-3,529
| Closed | -$468K |
|
740
J&J Snack Foods
JJSF
$1.71B
| – | – |
-2,897
| Closed | -$449K |
|
741
Kirby Corp
KEX
$6.93B
| – | – |
-148,700
| Closed | -$15.7M |
|
742
Kinsale Capital Group
KNSL
$8.51B
| – | – |
-3,960
| Closed | -$1.84M |
|
743
Lucid Motors
LCID
$2.77B
| – | – |
-17,620
| Closed | -$532K |
|
744
Linde
LIN
$226B
| – | – |
-1,166
| Closed | -$488K |
|
745
LeMaitre Vascular
LMAT
$1.86B
| – | – |
-2,353
| Closed | -$217K |
|
746
lululemon athletica
LULU
$14.6B
| – | – |
-38,643
| Closed | -$14.8M |
|
747
LyondellBasell Industries
LYB
$19.2B
| – | – |
-49,501
| Closed | -$3.68M |
|
748
Lyft
LYFT
$6.63B
| – | – |
-1,827,323
| Closed | -$23.6M |
|
749
MGM Resorts International
MGM
$11.2B
| – | – |
-419,332
| Closed | -$14.5M |
|
750
Mirion Technologies
MIR
$3.91B
| – | – |
-243,755
| Closed | -$4.25M |
|
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Ray Dalio's Q1 2025 Portfolio in Review
As of Q1 2025, Ray Dalio held 814 positions worth $21.6B, down 1.2% from $21.8B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Ray Dalio's Q1 2025 filing shows 123 new, 283 increased, 252 reduced and 150 closed positions. Its largest new stake was SPDR Gold Trust: 1,106,395 shares worth $319M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $2.87B.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Financials.
- Ray Dalio's largest Q1 2025 buy was SPDR Gold Trust: 1,106,395 shares worth $319M.
- Ray Dalio added most to Alibaba in Q1 2025, an estimated $623M increase.
- Ray Dalio's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $2.87B.
- Ray Dalio fully exited ON Semiconductor in Q1 2025, selling an estimated $42.7M.
- Ray Dalio's ten largest holdings make up 32% of its $21.6B portfolio in Q1 2025.
- Ray Dalio opened 123 new positions and closed 150 in Q1 2025.
- Ray Dalio's portfolio value fell 1.2% quarter-over-quarter to $21.6B.
Based on Bridgewater Associates's 13F filing for Q1 2025, filed 14 May 2025.