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 | |
|---|---|---|---|---|---|---|
951
Itron
ITRI
$4.54B
| $599K | ﹤0.01% |
6,455
-17,087
| -73% | -$1.86M |
|
952
Lazard
LAZ
$4.31B
| $598K | ﹤0.01% |
12,307
-6,059
| -33% | -$302K |
|
953
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
| $591K | ﹤0.01% |
7,334
| – | – |
|
954
Microchip Technology
MCHP
$46B
| $590K | ﹤0.01% |
+9,260
| New | +$571K |
|
955
NextEra Energy
NEE
$177B
| $586K | ﹤0.01% |
+7,297
| New | +$604K |
|
956
lululemon athletica
LULU
$14.6B
| $586K | ﹤0.01% |
2,818
-16,341
| -85% | -$2.96M |
|
957
Donaldson
DCI
$11.4B
| $581K | ﹤0.01% |
6,558
-31,390
| -83% | -$2.73M |
|
958
Henry Schein
HSIC
$9.82B
| $560K | ﹤0.01% |
7,413
+3,944
| +114% | +$278K |
|
959
MSCI
MSCI
$40.9B
| $557K | ﹤0.01% |
+971
| New | +$545K |
|
960
Dominion Energy
D
$59.3B
| $553K | ﹤0.01% |
9,441
-8,336
| -47% | -$502K |
|
961
D.R. Horton
DHI
$42.3B
| $549K | ﹤0.01% |
3,812
+2,185
| +134% | +$333K |
|
962
Eagle Materials
EXP
$6.57B
| $549K | ﹤0.01% |
2,655
-3,875
| -59% | -$855K |
|
|
SEE
963
DELISTED
Sealed Air
SEE
| $547K | ﹤0.01% |
13,207
-96,974
| -88% | -$3.75M |
|
964
Brown-Forman Class B
BF.B
$13.1B
| $546K | ﹤0.01% |
20,940
+379
| +2% | +$10.7K |
|
|
AMTM
965
Amentum Holdings
AMTM
$6.05B
| $529K | ﹤0.01% |
+18,251
| New | +$467K |
|
966
John Wiley & Sons Class A
WLY
$2.66B
| $520K | ﹤0.01% |
+16,982
| New | +$598K |
|
967
Packaging Corp of America
PKG
$22.8B
| $519K | ﹤0.01% |
2,516
-721
| -22% | -$147K |
|
968
Shoals Technologies Group
SHLS
$1.5B
| $515K | ﹤0.01% |
+60,588
| New | +$544K |
|
969
Cooper Companies
COO
$14.5B
| $513K | ﹤0.01% |
6,256
-603
| -9% | -$45.1K |
|
970
Equifax
EFX
$21.4B
| $510K | ﹤0.01% |
+2,351
| New | +$515K |
|
971
Conagra Brands
CAG
$7.23B
| $506K | ﹤0.01% |
29,226
-76,199
| -72% | -$1.35M |
|
972
Elanco Animal Health
ELAN
$11.1B
| $501K | ﹤0.01% |
+22,158
| New | +$482K |
|
973
Best Buy
BBY
$17.3B
| $499K | ﹤0.01% |
7,456
-6,983
| -48% | -$533K |
|
974
TFI International
TFII
$11.5B
| $493K | ﹤0.01% |
4,759
-2,745
| -37% | -$255K |
|
975
Tidewater
TDW
$4.12B
| $485K | ﹤0.01% |
9,601
-40,227
| -81% | -$2.12M |
|
Similar funds
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.