Hedge Fund · CIK 0001350694

Ray Dalio

Bridgewater Associates
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Ray Dalio runs Bridgewater Associates, a hedge fund overseeing $27.42B in disclosed equity holdings (SEC CIK 0001350694). The latest portfolio (2025Q4) discloses 1040 positions across 11 sectors, with the largest positions in SPY, IVV and NVDA. On a mark-to-market basis the tracked portfolio has returned 29.8% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Portfolio
$27.42B
Positions
1040
Quarter
2025Q4
Filings tracked
40
1Y+29.8%3Y+70.9%5Y+70.0%10Y+228.3%Full performance →
1-YearTWR
+29.83%
since 2024Q4
3-YearTWR
+70.94%
since 2022Q4
5-YearTWR
+69.98%
since 2020Q4
10-Yearbacktest
+228.29%
since 2016-04-20

Methodology: TWR tiles chain-link quarterly mark-to-market across consecutive filings (GIPS-compliant) · actual tiles use a real 13F snapshot marked to today · backtest tiles re-price the current book to historical prices.

Performance overview

We mark Ray Dalio (Bridgewater Associates)'s disclosed portfolio to current market prices and compare its growth against the S&P 500 (SPY). Ray's portfolio is 29.8% over the last 12 months · 139.3% since 2016Q1.

Portfolio growth vs SPY
Rebased to 100 at 2021Q2 · through 2025Q4
Ray Dalio
+58.0%
SPY
+69.5%
Alpha
-11.6pp
761011271521772021Q22023Q32025Q4
Portfolio line is the GIPS-compliant time-weighted return chain-linked across the manager's quarterly 13F filings — unaffected by capital flows. Quarters with insufficient held-through coverage are skipped, which can briefly flatten the line.
Capital flow per quarter
BuysSellsNet
+$9.49B+$4.75B$0-$4.75B-$9.49B'22Q1'22Q2'22Q3'22Q4'23Q1'23Q2'23Q3'23Q4'24Q1'24Q2'24Q3'24Q4'25Q1'25Q2'25Q3'25Q4
Latest · 2025Q4
+$1.56B
Lifetime buys
$74.11B
Lifetime sells
$67.84B
Portfolio over time
AUMPositions
$0$9.05B$18.10B$27.42B1040585'22Q1'23Q4'25Q4
QoQ AUM
+7.4%
16Q lifetime AUM
+10.5%
QoQ positions
+26
16Q lifetime positions
+72
Position concentration
1040 positions
Top 1
11%
of book