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 |
NVIDIA
NVDA
|
+$552M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$419M |
| 3 |
Microsoft
MSFT
|
+$393M |
| 4 |
Johnson & Johnson
JNJ
|
+$305M |
| 5 |
Uber
UBER
|
+$259M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$748M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$418M |
| 3 |
Constellation Energy
CEG
|
+$211M |
| 4 |
Pinduoduo
PDD
|
+$206M |
| 5 |
Baidu
BIDU
|
+$191M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.87% |
| 2 | Communication Services | 11.52% |
| 3 | Financials | 9.89% |
| 4 | Healthcare | 8.49% |
| 5 | Consumer Discretionary | 7.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CTRA
101
DELISTED
Coterra Energy
CTRA
| $41.6M | 0.17% |
1,638,229
-337,536
| -17% | -$8.56M |
|
102
Capital One
COF
$134B
| $41M | 0.17% |
192,576
+23,924
| +14% | +$4.46M |
|
103
Everest Group
EG
$14.4B
| $39.7M | 0.16% |
116,792
+23,020
| +25% | +$7.94M |
|
104
Lyft
LYFT
$6.63B
| $39.1M | 0.16% |
+2,478,837
| New | +$34.7M |
|
105
D.R. Horton
DHI
$42.3B
| $38.9M | 0.16% |
301,366
+116,412
| +63% | +$14.3M |
|
106
Super Micro Computer
SMCI
$20.1B
| $38.2M | 0.15% |
778,794
+418,372
| +116% | +$16.1M |
|
107
Gen Digital
GEN
$17.5B
| $37.9M | 0.15% |
1,289,190
+69,874
| +6% | +$1.91M |
|
108
Agnico Eagle Mines
AEM
$90.5B
| $37.8M | 0.15% |
317,717
-172,281
| -35% | -$20M |
|
109
GE Aerospace
GE
$384B
| $37.1M | 0.15% |
144,001
-74,837
| -34% | -$16.4M |
|
110
Vale
VALE
$62.6B
| $36.7M | 0.15% |
3,781,404
+2,857,074
| +309% | +$26.9M |
|
111
TE Connectivity
TEL
$62.6B
| $36.6M | 0.15% |
216,821
+92,740
| +75% | +$14.1M |
|
112
NXP Semiconductors
NXPI
$60.4B
| $36.1M | 0.15% |
165,250
+123,183
| +293% | +$24.1M |
|
113
Rio Tinto
RIO
$164B
| $36M | 0.15% |
617,885
-12,988
| -2% | -$767K |
|
114
Principal Financial Group
PFG
$24.3B
| $35.9M | 0.14% |
451,548
-2,888
| -0.6% | -$222K |
|
|
B
115
Barrick Mining
B
$73.2B
| $35.3M | 0.14% |
1,693,808
+359,279
| +27% | +$7.02M |
|
116
Philip Morris
PM
$295B
| $35.3M | 0.14% |
193,594
+96,346
| +99% | +$16.5M |
|
117
Edwards Lifesciences
EW
$51.7B
| $34.8M | 0.14% |
444,924
+382,402
| +612% | +$28.5M |
|
118
CoStar Group
CSGP
$12.3B
| $34.8M | 0.14% |
432,708
-553,285
| -56% | -$43.1M |
|
119
H&R Block
HRB
$5.86B
| $34.7M | 0.14% |
632,818
+108,375
| +21% | +$6.26M |
|
120
American International
AIG
$41.8B
| $34.6M | 0.14% |
404,596
+306,681
| +313% | +$25.5M |
|
121
Omnicom Group
OMC
$23.4B
| $33.9M | 0.14% |
470,806
+65,861
| +16% | +$4.87M |
|
122
Cencora
COR
$61.2B
| $33.9M | 0.14% |
112,906
+99,233
| +726% | +$28.6M |
|
123
S&P Global
SPGI
$120B
| $33.8M | 0.14% |
64,153
-80,328
| -56% | -$40.1M |
|
124
NetApp
NTAP
$37.2B
| $32.8M | 0.13% |
308,128
+291,201
| +1,720% | +$27.6M |
|
125
Lantheus
LNTH
$6.59B
| $32.6M | 0.13% |
397,852
+94,700
| +31% | +$8.32M |
|
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Ray Dalio's Q2 2025 Portfolio in Review
As of Q2 2025, Ray Dalio held 749 positions worth $24.8B, up 15% from $21.6B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio's Q2 2025 filing shows 85 new, 206 increased, 287 reduced and 164 closed positions. Its largest new stake was Arm: 473,725 shares worth $76.6M. The largest sale was Alibaba, an estimated $748M.
By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 19% a quarter earlier, followed by Communication Services and Financials.
- Ray Dalio's largest Q2 2025 buy was Arm: 473,725 shares worth $76.6M.
- Ray Dalio added most to NVIDIA in Q2 2025, an estimated $552M increase.
- Ray Dalio's biggest Q2 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $418M.
- Ray Dalio fully exited Alibaba in Q2 2025, selling an estimated $748M.
- Ray Dalio's ten largest holdings make up 36% of its $24.8B portfolio in Q2 2025.
- Ray Dalio opened 85 new positions and closed 164 in Q2 2025.
- Ray Dalio's portfolio value rose 15% quarter-over-quarter to $24.8B.
Based on Bridgewater Associates's 13F filing for Q2 2025, filed 13 Aug 2025.