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 | |
|---|---|---|---|---|---|---|
1076
Chord Energy
CHRD
$7.39B
| – | – |
-5,415
| Closed | -$538K |
|
1077
Chewy
CHWY
$9.63B
| – | – |
-47,043
| Closed | -$1.9M |
|
1078
Clean Harbors
CLH
$16.3B
| – | – |
-5,762
| Closed | -$1.34M |
|
1079
Core & Main
CNM
$8.71B
| – | – |
-35,833
| Closed | -$1.93M |
|
1080
CONMED
CNMD
$1.47B
| – | – |
-5,933
| Closed | -$279K |
|
1081
CenterPoint Energy
CNP
$26.8B
| – | – |
-8,440
| Closed | -$327K |
|
1082
Core Scientific
CORZ
$6.75B
| – | – |
-177,740
| Closed | -$3.19M |
|
1083
Coursera
COUR
$1.54B
| – | – |
-140,240
| Closed | -$1.64M |
|
1084
Cintas
CTAS
$81.3B
| – | – |
-23,996
| Closed | -$4.93M |
|
1085
Corteva
CTVA
$51.3B
| – | – |
-191,216
| Closed | -$12.9M |
|
|
CVAC
1086
DELISTED
CureVac
CVAC
| – | – |
-466,407
| Closed | -$2.51M |
|
1087
Commault Systems
CVLT
$5.61B
| – | – |
-37,834
| Closed | -$7.14M |
|
1088
Carvana
CVNA
$77.9B
| – | – |
-71,145
| Closed | -$5.37M |
|
1089
Dana Inc
DAN
$3.06B
| – | – |
-29,323
| Closed | -$588K |
|
1090
Ducommun
DCO
$2.98B
| – | – |
-2,417
| Closed | -$232K |
|
1091
DraftKings
DKNG
$11.9B
| – | – |
-852,495
| Closed | -$31.9M |
|
1092
Dick's Sporting Goods
DKS
$18.7B
| – | – |
-11,079
| Closed | -$2.46M |
|
1093
Leonardo DRS
DRS
$12B
| – | – |
-10,459
| Closed | -$475K |
|
1094
Duke Energy
DUK
$97.3B
| – | – |
-35,659
| Closed | -$4.41M |
|
|
DX
1095
Dynex Capital
DX
$3.21B
| – | – |
-38,705
| Closed | -$476K |
|
1096
Equity Lifestyle Properties
ELS
$12.6B
| – | – |
-32,904
| Closed | -$2M |
|
1097
Elevance Health
ELV
$85.5B
| – | – |
-55,203
| Closed | -$17.8M |
|
1098
Emerson Electric
EMR
$88.3B
| – | – |
-43,426
| Closed | -$5.7M |
|
|
EMBJ
1099
Embraer S.A. ADS
EMBJ
$13B
| – | – |
-10,611
| Closed | -$641K |
|
1100
Elbit Systems
ESLT
$40.3B
| – | – |
-6,080
| Closed | -$3.1M |
|
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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.