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 | |
|---|---|---|---|---|---|---|
126
Arm
ARM
$302B
| $35.7M | 0.13% |
+326,320
| New | +$47.4M |
|
127
Cisco
CSCO
$479B
| $35.6M | 0.13% |
462,267
-1,324,221
| -74% | -$98.3M |
|
128
Caterpillar
CAT
$387B
| $35.6M | 0.13% |
+62,157
| New | +$34.5M |
|
129
monday.com
MNDY
$3.94B
| $35.3M | 0.13% |
239,186
+39,756
| +20% | +$6.7M |
|
130
TechnipFMC
FTI
$27.3B
| $35.1M | 0.13% |
787,920
+185,292
| +31% | +$7.82M |
|
131
Alnylam Pharmaceuticals
ALNY
$29.3B
| $34M | 0.12% |
85,617
+51,706
| +152% | +$22.9M |
|
132
American International
AIG
$41.8B
| $34M | 0.12% |
397,659
-99,786
| -20% | -$7.99M |
|
133
Mercado Libre
MELI
$92.3B
| $33.8M | 0.12% |
16,786
-9,700
| -37% | -$20.4M |
|
|
SCHW
134
Charles Schwab
SCHW
$187B
| $33M | 0.12% |
330,047
-153,253
| -32% | -$14.5M |
|
135
RenaissanceRe
RNR
$13.4B
| $32.8M | 0.12% |
116,752
+4,813
| +4% | +$1.27M |
|
136
Merck
MRK
$318B
| $32.7M | 0.12% |
310,221
-203,722
| -40% | -$19.1M |
|
137
Incyte
INCY
$24.4B
| $32.5M | 0.12% |
328,590
+197,306
| +150% | +$19.1M |
|
138
DT Midstream
DTM
$13.4B
| $32.3M | 0.12% |
270,145
-36,684
| -12% | -$4.22M |
|
139
FNB Corp
FNB
$6.75B
| $32M | 0.12% |
1,868,762
+613,807
| +49% | +$10M |
|
140
Marathon Petroleum
MPC
$83.7B
| $31.8M | 0.12% |
195,553
+11,914
| +6% | +$2.23M |
|
141
Jabil
JBL
$35.8B
| $31.7M | 0.12% |
138,872
-149,310
| -52% | -$31.9M |
|
142
United Therapeutics
UTHR
$23.1B
| $31.5M | 0.11% |
64,595
+48,530
| +302% | +$22.6M |
|
143
Interactive Brokers
IBKR
$39.6B
| $31.4M | 0.11% |
488,940
-93,830
| -16% | -$6.28M |
|
144
M&T Bank
MTB
$36.2B
| $31.2M | 0.11% |
154,846
-5,881
| -4% | -$1.12M |
|
145
Corpay
CPAY
$25.7B
| $30.3M | 0.11% |
100,657
-6,766
| -6% | -$1.96M |
|
|
CTRA
146
DELISTED
Coterra Energy
CTRA
| $30.2M | 0.11% |
1,149,102
-333,655
| -23% | -$8.41M |
|
147
Gentex
GNTX
$5.07B
| $30.2M | 0.11% |
1,298,917
+346,559
| +36% | +$8.36M |
|
148
Walmart Inc
WMT
$890B
| $29.9M | 0.11% |
268,611
-7,365
| -3% | -$791K |
|
149
iShares Expanded Tech-Software Sector ETF
IGV
$14.5B
| $29.8M | 0.11% |
+281,938
| New | +$31M |
|
150
Aptiv
APTV
$10.3B
| $29.5M | 0.11% |
387,098
+161,557
| +72% | +$13M |
|
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.