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 | |
|---|---|---|---|---|---|---|
876
Clarivate
CLVT
$1.16B
| $1.02M | ﹤0.01% |
+304,589
| New | +$1.08M |
|
877
Flowers Foods
FLO
$1.57B
| $1.02M | ﹤0.01% |
93,480
+45,958
| +97% | +$534K |
|
878
Advanced Energy
AEIS
$13B
| $1.02M | ﹤0.01% |
4,849
-4,624
| -49% | -$941K |
|
879
Insperity
NSP
$2.01B
| $1.01M | ﹤0.01% |
+26,210
| New | +$1.05M |
|
880
Perrigo
PRGO
$1.78B
| $1.01M | ﹤0.01% |
+72,615
| New | +$1.21M |
|
881
Boston Beer
SAM
$1.92B
| $1.01M | ﹤0.01% |
5,163
-5,662
| -52% | -$1.17M |
|
882
NVR
NVR
$17B
| $1.01M | ﹤0.01% |
138
-33
| -19% | -$247K |
|
883
Interparfums
IPAR
$3.94B
| $1.01M | ﹤0.01% |
11,851
+7,142
| +152% | +$629K |
|
884
Tyson Foods
TSN
$20.4B
| $1M | ﹤0.01% |
17,118
-15,154
| -47% | -$832K |
|
|
HOLX
885
DELISTED
Hologic
HOLX
| $1M | ﹤0.01% |
13,448
-10,124
| -43% | -$740K |
|
886
California Resources
CRC
$4.62B
| $1M | ﹤0.01% |
+22,387
| New | +$1.06M |
|
887
Doximity
DOCS
$4.88B
| $1M | ﹤0.01% |
+22,589
| New | +$1.27M |
|
|
LTM
888
LATAM Airlines Group S.A.
LTM
$16.3B
| $996K | ﹤0.01% |
18,446
+7,813
| +73% | +$370K |
|
889
FirstEnergy
FE
$27.5B
| $990K | ﹤0.01% |
22,105
-74,161
| -77% | -$3.41M |
|
890
Amgen
AMGN
$222B
| $988K | ﹤0.01% |
3,020
-8,275
| -73% | -$2.62M |
|
891
Zurn Elkay Water Solutions
ZWS
$8.53B
| $984K | ﹤0.01% |
+21,173
| New | +$994K |
|
892
Freshpet
FRPT
$3.22B
| $980K | ﹤0.01% |
16,076
+3,152
| +24% | +$179K |
|
893
Thermo Fisher Scientific
TMO
$220B
| $977K | ﹤0.01% |
+1,686
| New | +$953K |
|
894
Erie Indemnity
ERIE
$13.2B
| $974K | ﹤0.01% |
+3,397
| New | +$1.01M |
|
|
SEM
895
DELISTED
Select Medical
SEM
| $968K | ﹤0.01% |
65,173
+24,021
| +58% | +$340K |
|
896
Artisan Partners
APAM
$3.02B
| $954K | ﹤0.01% |
23,411
+16,792
| +254% | +$717K |
|
897
Ametek
AME
$58.2B
| $946K | ﹤0.01% |
4,608
-31,589
| -87% | -$6.15M |
|
898
Ryder
R
$10.1B
| $942K | ﹤0.01% |
4,921
-4,423
| -47% | -$795K |
|
899
MGIC Investment
MTG
$6.25B
| $937K | ﹤0.01% |
32,072
+3,619
| +13% | +$102K |
|
900
First Majestic Silver
AG
$9.07B
| $914K | ﹤0.01% |
+54,838
| New | +$762K |
|
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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.