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 | |
|---|---|---|---|---|---|---|
1001
TMC The Metals Company
TMC
$1.98B
| $335K | ﹤0.01% |
+54,309
| New | +$381K |
|
1002
Rocket Companies
RKT
$38.8B
| $328K | ﹤0.01% |
+16,956
| New | +$303K |
|
1003
Red Rock Resorts
RRR
$3.62B
| $318K | ﹤0.01% |
+5,133
| New | +$300K |
|
1004
Realty Income
O
$59.1B
| $316K | ﹤0.01% |
5,601
+2,062
| +58% | +$119K |
|
1005
The Ensign Group
ENSG
$10.7B
| $309K | ﹤0.01% |
1,772
-4,966
| -74% | -$892K |
|
1006
Vericel Corp
VCEL
$2.31B
| $308K | ﹤0.01% |
+8,543
| New | +$314K |
|
1007
Gibraltar Industries
ROCK
$1.49B
| $305K | ﹤0.01% |
6,170
+2,635
| +75% | +$151K |
|
|
TTAN
1008
ServiceTitan Inc
TTAN
$8.19B
| $305K | ﹤0.01% |
+2,864
| New | +$280K |
|
1009
EXL Service
EXLS
$5.29B
| $302K | ﹤0.01% |
7,126
-103,671
| -94% | -$4.24M |
|
1010
Dutch Bros
BROS
$9.26B
| $301K | ﹤0.01% |
+4,923
| New | +$280K |
|
1011
Digital Realty Trust
DLR
$71.7B
| $297K | ﹤0.01% |
1,921
-3,237
| -63% | -$532K |
|
1012
Minerals Technologies
MTX
$2.34B
| $297K | ﹤0.01% |
+4,873
| New | +$289K |
|
1013
B2Gold
BTG
$6.7B
| $292K | ﹤0.01% |
64,773
+18,509
| +40% | +$86.3K |
|
1014
Cogent Communications
CCOI
$497M
| $279K | ﹤0.01% |
+12,963
| New | +$383K |
|
1015
Shift4
FOUR
$3.27B
| $279K | ﹤0.01% |
4,428
-238,808
| -98% | -$16.9M |
|
1016
e.l.f. Beauty
ELF
$5.8B
| $278K | ﹤0.01% |
3,662
-17,444
| -83% | -$1.72M |
|
1017
Douglas Emmett
DEI
$1.96B
| $275K | ﹤0.01% |
+25,023
| New | +$314K |
|
1018
Crown Castle
CCI
$32.2B
| $271K | ﹤0.01% |
3,055
-6,744
| -69% | -$620K |
|
1019
J&J Snack Foods
JJSF
$1.71B
| $271K | ﹤0.01% |
2,997
+415
| +16% | +$37.6K |
|
1020
Blackstone
BX
$110B
| $264K | ﹤0.01% |
1,714
-34,804
| -95% | -$5.29M |
|
1021
Golar LNG
GLNG
$5.13B
| $264K | ﹤0.01% |
+7,095
| New | +$271K |
|
1022
ACI Worldwide
ACIW
$5.46B
| $262K | ﹤0.01% |
5,487
-27,633
| -83% | -$1.34M |
|
1023
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$6.92B
| $253K | ﹤0.01% |
2,598
| – | – |
|
1024
GXO Logistics
GXO
$5.55B
| $247K | ﹤0.01% |
+4,685
| New | +$246K |
|
1025
Simon Property Group
SPG
$72.3B
| $245K | ﹤0.01% |
1,322
-9,907
| -88% | -$1.8M |
|
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.