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
|
+$4.36B |
| 2 |
AT&T
T
|
+$117M |
| 3 |
PayPal
PYPL
|
+$95.6M |
| 4 |
eBay
EBAY
|
+$95.2M |
| 5 |
Adobe
ADBE
|
+$94.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$198M |
| 2 |
Walmart Inc
WMT
|
+$179M |
| 3 |
NVIDIA
NVDA
|
+$173M |
| 4 |
Johnson & Johnson
JNJ
|
+$144M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$133M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.76% |
| 2 | Healthcare | 9.26% |
| 3 | Consumer Discretionary | 9.01% |
| 4 | Financials | 8.43% |
| 5 | Communication Services | 8.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
826
Terex
TEX
$7.74B
| – | – |
-79,009
| Closed | -$4.18M |
|
827
Trimble
TRMB
$13.9B
| – | – |
-7,610
| Closed | -$473K |
|
828
TC Energy
TRP
$65.9B
| – | – |
-55,339
| Closed | -$2.63M |
|
829
Toro Company
TTC
$9.49B
| – | – |
-7,445
| Closed | -$646K |
|
830
UFP Industries
UFPI
$5.19B
| – | – |
-2,338
| Closed | -$307K |
|
831
UGI
UGI
$7.33B
| – | – |
-28,934
| Closed | -$724K |
|
832
US Physical Therapy
USPH
$1.22B
| – | – |
-5,886
| Closed | -$498K |
|
833
Veeva Systems
VEEV
$37.4B
| – | – |
-100,449
| Closed | -$21.1M |
|
834
Vontier
VNT
$4.94B
| – | – |
-102,747
| Closed | -$3.47M |
|
835
Vanguard S&P 500 ETF
VOO
$1.01T
| – | – |
-172,089
| Closed | -$90.8M |
|
836
Verisk Analytics
VRSK
$25B
| – | – |
-2,905
| Closed | -$778K |
|
837
Wayfair
W
$14.6B
| – | – |
-128,207
| Closed | -$7.2M |
|
|
WBA
838
DELISTED
Walgreens Boots Alliance
WBA
| – | – |
-17,841
| Closed | -$160K |
|
|
WCC
839
WESCO International
WCC
$17.7B
| – | – |
-4,634
| Closed | -$778K |
|
840
WEX
WEX
$6.31B
| – | – |
-9,152
| Closed | -$1.92M |
|
841
West Fraser Timber
WFG
$5.65B
| – | – |
-4,160
| Closed | -$406K |
|
842
Weatherford International
WFRD
$6.22B
| – | – |
-16,990
| Closed | -$1.44M |
|
843
Cactus
WHD
$5.44B
| – | – |
-159,225
| Closed | -$9.5M |
|
844
WillScot Mobile Mini Holdings
WSC
$4.41B
| – | – |
-48,554
| Closed | -$1.83M |
|
845
Wynn Resorts
WYNN
$10.6B
| – | – |
-119,706
| Closed | -$11.5M |
|
846
Yum! Brands
YUM
$41.1B
| – | – |
-24,667
| Closed | -$3.45M |
|
847
Astrana Health
ASTH
$1.77B
| – | – |
-16,424
| Closed | -$952K |
|
|
VRN
848
DELISTED
Veren
VRN
| – | – |
-20,347
| Closed | -$125K |
|
|
AMTM
849
Amentum Holdings
AMTM
$6.05B
| – | – |
-48,532
| Closed | -$1.57M |
|
|
SGI
850
Somnigroup International
SGI
$13.7B
| – | – |
-58,937
| Closed | -$3.22M |
|
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Ray Dalio's Q4 2024 Portfolio in Review
As of Q4 2024, Ray Dalio held 855 positions worth $21.8B, up 24% from $17.7B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Ray Dalio deployed $4.28B of net new capital in Q4 2024, opening 82 new positions and adding to 262 existing holdings. Its largest new stake was ServiceNow: 281,970 shares worth $59.8M.
By sector, the portfolio is most concentrated in Technology at 16% of assets, down from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Procter & Gamble, an estimated $198M trimmed.
- Ray Dalio's largest Q4 2024 buy was ServiceNow: 281,970 shares worth $59.8M.
- Ray Dalio added most to State Street SPDR S&P 500 ETF Trust in Q4 2024, an estimated $4.36B increase.
- Ray Dalio's biggest Q4 2024 reduction was Procter & Gamble, cutting an estimated $198M.
- Ray Dalio fully exited Micron Technology in Q4 2024, selling an estimated $102M.
- Ray Dalio's ten largest holdings make up 43% of its $21.8B portfolio in Q4 2024.
- Ray Dalio opened 82 new positions and closed 164 in Q4 2024.
- Ray Dalio's portfolio value rose 24% quarter-over-quarter to $21.8B.
Based on Bridgewater Associates's 13F filing for Q4 2024, filed 13 Feb 2025.