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 | |
|---|---|---|---|---|---|---|
1126
Levi Strauss
LEVI
$9.39B
| – | – |
-22,758
| Closed | -$530K |
|
|
LNW
1127
DELISTED
Light & Wonder
LNW
| – | – |
-19,975
| Closed | -$1.68M |
|
1128
La-Z-Boy
LZB
$1.69B
| – | – |
-137,353
| Closed | -$4.71M |
|
1129
Masco
MAS
$15.3B
| – | – |
-37,662
| Closed | -$2.65M |
|
1130
Matsons
MATX
$6.18B
| – | – |
-12,373
| Closed | -$1.22M |
|
1131
MDU Resources
MDU
$4.3B
| – | – |
-149,167
| Closed | -$2.66M |
|
1132
MillerKnoll
MLKN
$1.67B
| – | – |
-45,794
| Closed | -$812K |
|
1133
Martin Marietta Materials
MLM
$33B
| – | – |
-1,855
| Closed | -$1.17M |
|
|
MRC
1134
DELISTED
MRC Global
MRC
| – | – |
-183,978
| Closed | -$2.65M |
|
1135
Madison Square Garden
MSGE
$3.62B
| – | – |
-40,458
| Closed | -$1.83M |
|
1136
Motorola Solutions
MSI
$77.4B
| – | – |
-19,429
| Closed | -$8.88M |
|
1137
Vail Resorts
MTN
$5.3B
| – | – |
-3,580
| Closed | -$535K |
|
1138
Neogen
NEOG
$2.5B
| – | – |
-584,794
| Closed | -$3.34M |
|
1139
NiSource
NI
$20.4B
| – | – |
-9,786
| Closed | -$424K |
|
1140
Annaly Capital Management
NLY
$17.4B
| – | – |
-68,878
| Closed | -$1.39M |
|
|
NVO
1141
Novo Nordisk
NVO
$209B
| – | – |
-138,947
| Closed | -$7.71M |
|
1142
Blue Owl Capital
OBDC
$5.74B
| – | – |
-32,862
| Closed | -$420K |
|
1143
Omega Healthcare
OHI
$14.7B
| – | – |
-18,216
| Closed | -$769K |
|
1144
ONE Gas
OGS
$5.04B
| – | – |
-7,296
| Closed | -$591K |
|
1145
Universal Display
OLED
$4.19B
| – | – |
-15,268
| Closed | -$2.19M |
|
1146
Old National Bancorp
ONB
$10.2B
| – | – |
-284,004
| Closed | -$6.23M |
|
1147
Ondas Inc
ONDS
$5.19B
| – | – |
-76,482
| Closed | -$590K |
|
1148
Option Care Health
OPCH
$3.56B
| – | – |
-7,404
| Closed | -$206K |
|
1149
Ormat Technologies
ORA
$6.64B
| – | – |
-9,057
| Closed | -$872K |
|
1150
Otter Tail
OTTR
$3.94B
| – | – |
-6,406
| Closed | -$525K |
|
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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.