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
|
+$4.36B |
| 2 |
AT&T
T
|
+$117M |
| 3 |
PayPal
PYPL
|
+$95.6M |
| 4 |
eBay
EBAY
|
+$95.2M |
| 5 |
Adobe
ADBE
|
+$94.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$198M |
| 2 |
Walmart Inc
WMT
|
+$179M |
| 3 |
NVIDIA
NVDA
|
+$173M |
| 4 |
Johnson & Johnson
JNJ
|
+$144M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$133M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.76% |
| 2 | Healthcare | 9.26% |
| 3 | Consumer Discretionary | 9.01% |
| 4 | Financials | 8.43% |
| 5 | Communication Services | 8.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
State Street SPDR S&P 500 ETF Trust
SPY
$823B
| $4.82B | 22.12% |
8,232,049
+7,395,084
| +884% | +$4.36B |
|
2
iShares Core S&P 500 ETF
IVV
$902B
| $1.2B | 5.5% |
2,039,343
-183,491
| -8% | -$109M |
|
3
iShares Core MSCI Emerging Markets ETF
IEMG
$156B
| $922M | 4.23% |
17,659,209
-120,169
| -0.7% | -$6.65M |
|
|
4
Alphabet (Google) Class A
GOOGL
$4.33T
| $686M | 3.14% |
3,621,308
-758,029
| -17% | -$133M |
|
|
5
NVIDIA
NVDA
$5.42T
| $470M | 2.15% |
3,497,362
-1,256,909
| -26% | -$173M |
|
6
Meta Platforms (Facebook)
META
$1.51T
| $364M | 1.67% |
621,088
-181,114
| -23% | -$106M |
|
7
Microsoft
MSFT
$3.71T
| $281M | 1.29% |
667,036
-203,142
| -23% | -$86.5M |
|
8
Vistra
VST
$47.4B
| $245M | 1.12% |
1,773,499
+657,217
| +59% | +$91.2M |
|
9
Advanced Micro Devices
AMD
$789B
| $217M | 1% |
1,797,655
+333,578
| +23% | +$48M |
|
10
Constellation Energy
CEG
$96.4B
| $212M | 0.97% |
946,244
+178,388
| +23% | +$44.5M |
|
11
Amazon
AMZN
$2.96T
| $202M | 0.93% |
919,786
-491,857
| -35% | -$101M |
|
|
12
PayPal
PYPL
$50.5B
| $201M | 0.92% |
2,358,408
+1,136,947
| +93% | +$95.6M |
|
13
Visa
V
$677B
| $193M | 0.89% |
612,004
+2,345
| +0.4% | +$705K |
|
14
McKesson
MCK
$101B
| $188M | 0.86% |
329,363
+83,126
| +34% | +$46.6M |
|
15
Lam Research
LRCX
$390B
| $183M | 0.84% |
2,533,399
-227,121
| -8% | -$17.2M |
|
16
Salesforce
CRM
$158B
| $168M | 0.77% |
502,427
+232,013
| +86% | +$74M |
|
17
iShares MSCI South Korea ETF
EWY
$24.1B
| $161M | 0.74% |
3,154,717
+1,227,157
| +64% | +$71.5M |
|
18
Cigna
CI
$74.6B
| $160M | 0.73% |
579,482
+255,646
| +79% | +$81.5M |
|
19
Applovin
APP
$116B
| $160M | 0.73% |
492,860
+227,270
| +86% | +$57.5M |
|
20
Expedia Group
EXPE
$37.3B
| $159M | 0.73% |
854,262
+361,543
| +73% | +$62.3M |
|
21
Booking.com
BKNG
$161B
| $157M | 0.72% |
790,225
+26,675
| +3% | +$5.13M |
|
22
Apple
AAPL
$4.57T
| $155M | 0.71% |
617,203
-414,653
| -40% | -$97.7M |
|
23
Broadcom
AVGO
$2.04T
| $152M | 0.7% |
657,290
-298,143
| -31% | -$55.1M |
|
|
24
AT&T
T
$163B
| $148M | 0.68% |
6,478,108
+5,188,460
| +402% | +$117M |
|
25
Merck
MRK
$318B
| $143M | 0.66% |
1,439,430
-114,840
| -7% | -$11.8M |
|
Similar funds
Ray Dalio's Q4 2024 Portfolio in Review
As of Q4 2024, Ray Dalio held 855 positions worth $21.8B, up 24% from $17.7B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Ray Dalio deployed $4.28B of net new capital in Q4 2024, opening 82 new positions and adding to 262 existing holdings. Its largest new stake was ServiceNow: 281,970 shares worth $59.8M.
By sector, the portfolio is most concentrated in Technology at 16% of assets, down from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Procter & Gamble, an estimated $198M trimmed.
- Ray Dalio's largest Q4 2024 buy was ServiceNow: 281,970 shares worth $59.8M.
- Ray Dalio added most to State Street SPDR S&P 500 ETF Trust in Q4 2024, an estimated $4.36B increase.
- Ray Dalio's biggest Q4 2024 reduction was Procter & Gamble, cutting an estimated $198M.
- Ray Dalio fully exited Micron Technology in Q4 2024, selling an estimated $102M.
- Ray Dalio's ten largest holdings make up 43% of its $21.8B portfolio in Q4 2024.
- Ray Dalio opened 82 new positions and closed 164 in Q4 2024.
- Ray Dalio's portfolio value rose 24% quarter-over-quarter to $21.8B.
Based on Bridgewater Associates's 13F filing for Q4 2024, filed 13 Feb 2025.