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Ray Dalio

Ray Dalio Bridgewater Associates

AUM $22.4B
1-Year Est. Return 34.48%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+8.32%
1 Year Est. Return
+34.48%
3 Year Est. Return
+84.29%
5 Year Est. Return
+89.92%
10 Year Est. Return
+230.06%
AUM
$25.5B
AUM Growth
+$736M
Cap. Flow
-$795M
Cap. Flow %
-3.11%
Top 10 Hldgs %
32.54%
Holding
1,078
New
493
Increased
325
Reduced
194
Closed
64

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$1.12B
2
LRCX icon
Lam Research
LRCX
+$193M
3
ADBE icon
Adobe
ADBE
+$191M
4
MA icon
Mastercard
MA
+$138M
5
WDAY icon
Workday
WDAY
+$137M

Top Sells

Rank Stock Value
1
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$999M
2
NVDA icon
NVIDIA
NVDA
+$823M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$617M
4
GLD icon
SPDR Gold Trust
GLD
+$337M
5
MSFT icon
Microsoft
MSFT
+$315M

Sector Composition

Rank Sector Weight
1 Technology 28.56%
2 Financials 12.71%
3 Consumer Discretionary 8.78%
4 Healthcare 7.77%
5 Communication Services 7.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COIN icon
1026
Coinbase
COIN
$40.5B
– –
-5,049
Closed -$1.77M
COP icon
1027
ConocoPhillips
COP
$141B
– –
-165,634
Closed -$14.9M
CSGP icon
1028
CoStar Group
CSGP
$12.3B
– –
-432,708
Closed -$34.8M
EMN icon
1029
Eastman Chemical
EMN
$8.42B
– –
-9,779
Closed -$730K
ESE icon
1030
ESCO Technologies
ESE
$7.92B
– –
-2,413
Closed -$463K
FL
1031
DELISTED
Foot Locker
FL
– –
-117,059
Closed -$2.87M
FNF icon
1032
Fidelity National Financial
FNF
$13.5B
– –
-7,001
Closed -$392K
GFL icon
1033
GFL Environmental
GFL
$14.9B
– –
-114,128
Closed -$5.76M
GLD icon
1034
SPDR Gold Trust
GLD
$141B
– –
-1,106,395
Closed -$337M
GTES icon
1035
Gates Industrial Corporation Ltd.
GTES
$7.15B
– –
-276,534
Closed -$6.37M
GTLS
1036
DELISTED
Chart Industries
GTLS
– –
-72,646
Closed -$12M
GVA icon
1037
Granite Construction
GVA
$5.62B
– –
-17,736
Closed -$1.66M
HXL icon
1038
Hexcel
HXL
$7.82B
– –
-116,023
Closed -$6.55M
ITW icon
1039
Illinois Tool Works
ITW
$85.3B
– –
-2,811
Closed -$695K
JCI icon
1040
Johnson Controls International
JCI
$92.2B
– –
-2,370
Closed -$250K
JHG
1041
DELISTED
Janus Henderson
JHG
– –
-27,926
Closed -$1.08M
JNPR
1042
DELISTED
Juniper Networks
JNPR
– –
-132,830
Closed -$5.3M
JPM icon
1043
JPMorgan Chase
JPM
$950B
– –
-51,287
Closed -$14.9M
KBH icon
1044
KB Home
KBH
$3.59B
– –
-10,813
Closed -$573K
LEN icon
1045
Lennar Class A
LEN
$21.2B
– –
-238,744
Closed -$26.4M
LLYVK icon
1046
Liberty Live Group Series C
LLYVK
$9.46B
– –
-3,847
Closed -$312K
LYFT icon
1047
Lyft
LYFT
$6.63B
– –
-2,478,837
Closed -$39.1M
MCW
1048
DELISTED
Mister Car Wash
MCW
– –
-217,205
Closed -$1.31M
MTDR icon
1049
Matador Resources
MTDR
$6.09B
– –
-86,357
Closed -$4.12M
MTH icon
1050
Meritage Homes
MTH
$4.86B
– –
-17,306
Closed -$1.16M
40 41
42
43 44

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FAM
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DSA
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CAM
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IC
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Ray Dalio's Q3 2025 Portfolio in Review

As of Q3 2025, Ray Dalio held 1,078 positions worth $25.5B, up 3% from $24.8B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Ray Dalio withdrew a net $795M in Q3 2025, closing 64 positions and reducing 194 holdings. Its most notable exit was SPDR Gold Trust, an estimated $337M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 29% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Ray Dalio opened a new position in Reddit worth $142M.

  • Ray Dalio's largest Q3 2025 buy was Reddit: 617,208 shares worth $142M.
  • Ray Dalio added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $1.12B increase.
  • Ray Dalio's biggest Q3 2025 reduction was iShares Core MSCI Emerging Markets ETF, cutting an estimated $999M.
  • Ray Dalio fully exited SPDR Gold Trust in Q3 2025, selling an estimated $337M.
  • Ray Dalio's ten largest holdings make up 33% of its $25.5B portfolio in Q3 2025.
  • Ray Dalio opened 493 new positions and closed 64 in Q3 2025.
  • Ray Dalio's portfolio value rose 3% quarter-over-quarter to $25.5B.

Based on Bridgewater Associates's 13F filing for Q3 2025, filed 13 Nov 2025.