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 | |
|---|---|---|---|---|---|---|
801
Unity
U
$18.9B
| – | – |
-487,696
| Closed | -$11M |
|
802
UFP Technologies
UFPT
$2.43B
| – | – |
-831
| Closed | -$203K |
|
803
Ulta Beauty
ULTA
$24.3B
| – | – |
-545
| Closed | -$237K |
|
804
Marriott Vacations Worldwide
VAC
$4.24B
| – | – |
-23,717
| Closed | -$2.13M |
|
805
Visteon
VC
$2.78B
| – | – |
-11,106
| Closed | -$985K |
|
806
Vertex Pharmaceuticals
VRTX
$126B
| – | – |
-710
| Closed | -$286K |
|
807
Weis Markets
WMK
$1.86B
| – | – |
-3,125
| Closed | -$212K |
|
808
Worthington Enterprises
WOR
$2.86B
| – | – |
-5,214
| Closed | -$209K |
|
809
Dentsply Sirona
XRAY
$2.43B
| – | – |
-225,523
| Closed | -$4.28M |
|
810
ZTO Express
ZTO
$17.9B
| – | – |
-16,201
| Closed | -$317K |
|
811
Sable Offshore Corp
SOC
$911M
| – | – |
-204,946
| Closed | -$4.69M |
|
|
SW
812
Smurfit Westrock
SW
$25.3B
| – | – |
-7,269
| Closed | -$392K |
|
|
GAP
813
The Gap Inc
GAP
$7.37B
| – | – |
-585,349
| Closed | -$13.8M |
|
|
NARI
814
DELISTED
Inari Medical, Inc. Common Stock
NARI
| – | – |
-5,730
| Closed | -$293K |
|
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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.