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 | |
|---|---|---|---|---|---|---|
726
Brixmor Property Group
BRX
$9.32B
| $2.39M | 0.01% |
91,098
+44,182
| +94% | +$1.17M |
|
727
Church & Dwight Co
CHD
$24.5B
| $2.38M | 0.01% |
28,357
+13,431
| +90% | +$1.15M |
|
728
Morgan Stanley
MS
$340B
| $2.36M | 0.01% |
+13,283
| New | +$2.22M |
|
729
Magnite
MGNI
$3.55B
| $2.36M | 0.01% |
145,187
-484
| -0.3% | -$8.03K |
|
|
WCN
730
Waste Connections
WCN
$42B
| $2.36M | 0.01% |
13,436
| – | – |
|
731
JB Hunt Transport Services
JBHT
$25.2B
| $2.34M | 0.01% |
+12,062
| New | +$2.07M |
|
732
MasTec
MTZ
$21.9B
| $2.33M | 0.01% |
+10,724
| New | +$2.25M |
|
733
CF Industries
CF
$17.3B
| $2.33M | 0.01% |
30,134
-59,686
| -66% | -$4.91M |
|
734
Selective Insurance
SIGI
$5.73B
| $2.31M | 0.01% |
27,554
-19,381
| -41% | -$1.56M |
|
735
Appian
APPN
$2.48B
| $2.3M | 0.01% |
+64,949
| New | +$2.31M |
|
736
Radian Group
RDN
$4.93B
| $2.29M | 0.01% |
63,649
-14,789
| -19% | -$516K |
|
737
Alarm.com
ALRM
$2.85B
| $2.26M | 0.01% |
44,334
-8,049
| -15% | -$410K |
|
738
Graphic Packaging
GPK
$3.58B
| $2.26M | 0.01% |
+149,752
| New | +$2.46M |
|
739
Ares Management
ARES
$30.9B
| $2.24M | 0.01% |
+13,877
| New | +$2.16M |
|
740
Kinder Morgan
KMI
$68.7B
| $2.24M | 0.01% |
81,513
-32,724
| -29% | -$884K |
|
741
SolarEdge
SEDG
$1.95B
| $2.24M | 0.01% |
+77,626
| New | +$2.71M |
|
742
H.B. Fuller
FUL
$3.28B
| $2.21M | 0.01% |
37,225
+20,957
| +129% | +$1.23M |
|
743
Pool Corp
POOL
$7.5B
| $2.21M | 0.01% |
9,662
+5,482
| +131% | +$1.43M |
|
744
Sysco
SYY
$40.3B
| $2.18M | 0.01% |
29,599
+498
| +2% | +$37.9K |
|
745
T. Rowe Price
TROW
$24.3B
| $2.17M | 0.01% |
+21,241
| New | +$2.19M |
|
746
W.P. Carey
WPC
$16.4B
| $2.17M | 0.01% |
+33,703
| New | +$2.24M |
|
747
Tetra Tech
TTEK
$9.07B
| $2.16M | 0.01% |
+64,301
| New | +$2.17M |
|
748
Cabot Corp
CBT
$4.52B
| $2.15M | 0.01% |
32,494
+105
| +0.3% | +$6.99K |
|
749
Korn Ferry
KFY
$4.28B
| $2.15M | 0.01% |
32,493
+8,943
| +38% | +$602K |
|
750
Marriott Vacations Worldwide
VAC
$4.25B
| $2.14M | 0.01% |
37,118
-65
| -0.2% | -$3.84K |
|
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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.