In this article, we will take a look at Billionaire Ray Dalio’s new stocks picks.
Ray Dalio devoted 2025 advised caution regarding the stock market, and he remains worried as the US economy moves forward in 2026. Last year, the founder of Bridgewater Associates warned of a looming global debt catastrophe and the declining value of the US dollar. Although a volatile combination of central bank buying, geopolitical concerns, and individual demand seemed to drive gold to new highs during the year, Dalio contends that the gold boom was mostly caused by fiat money losing actual value. In his opinion, that was the most relevant story in markets in 2025.
President Donald Trump has repeatedly highlighted the fiscal advantages of a weaker US dollar, aiming to position it as a plus to American exports. Dalio appears to share this viewpoint, stating that currency weakness serves to reduce the cost of a country’s exported commodities for overseas customers while raising the cost of imports.
At the same time, Wall Street’s main indexes saw double-digit growth through 2025, marking the third consecutive year of gains. The gains were driven by strong investor demand for AI-related firms, which pushed US equity indices to all-time highs.
Bridgewater Associates’ main macro funds achieved a record-breaking performance the same year, with its flagship Pure Alpha fund rising 33%. According to Reuters, the hedge fund, which is currently run by CEO Nir Bar Dea, reported the biggest profits in its 50-year existence.
Ray Dalio of Bridgewater Associates
Our Methodology
To curate our list of the 10 best new stocks in Ray Dalio’s stock portfolio, we scanned the newest additions to Bridgewater Associates’ Q3 2025 13F filings, using Insider Monkey’s 13F database.
We have added the performance of each stock from the end of Q3 2025 to January 16, providing readers with insight into how Bridgewater Associates’ portfolio picks have played out so far.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10. Roblox Corporation (NYSE:RBLX)
Share Price Performance (Sep 30 – Jan 16): -36.99%
Bridgewater Associates Stake Value: $12.42 million
Number of Hedge Fund Holders: 90
Roblox Corporation (NYSE:RBLX) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 12, BMO Capital reaffirmed its Outperform rating and $155 price target for Roblox Corporation (NYSE:RBLX), citing the release of a new game on the Roblox platform titled “Escape Tsunami For Brainrots!” that hopes to capitalize on the massive popularity of another hit game, “Steal a Brainrot.”
BMO Capital was encouraged by the new game’s solid early performance, adding that investors are waiting for signs that new breakout titles will boost Roblox’s long-term bookings growth this year.
Meanwhile, Wells Fargo cut its price target for Roblox Corporation (NYSE:RBLX) from $141 to $107 while retaining an Overweight rating on January 8, citing moderate growth estimates for 2026. The firm now forecasts 2026 bookings growth of 21% year-over-year, a decline from earlier projections of 31%, bringing its estimate closer to the consensus. Wells Fargo expects Roblox Corporation (NYSE:RBLX) to offer guidance for bookings of $7,850 million to $8,000 million this fiscal year, which represents a 19%-21% increase.
Roblox Corporation (NYSE:RBLX) is an interactive entertainment company. It operates an immersive platform that enables users to create, share, and experience 3D virtual worlds and games.
9. Duolingo Inc. (NASDAQ:DUOL)
Share Price Performance (Sep 30 – Jan 16): -53.34%
Bridgewater Associates Stake Value: $16.27 million
Number of Hedge Fund Holders: 50
Duolingo Inc. (NASDAQ:DUOL) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. Following the announcement of a CFO shift, Truist Securities reaffirmed its Buy rating and $245 price target for Duolingo Inc. (NASDAQ:DUOL) on January 12. The company is gearing up for a leadership transition as current CFO Matt Skaruppa prepares to leave, with Gillian Munson taking over the post. Munson has been sitting on Duolingo’s board since 2019.
Truist Securities was surprised by the abruptness of Skaruppa’s departure, especially since the announcement wasn’t made during Duolingo’s impending fourth-quarter earnings call. The firm recognized that preliminary fourth-quarter numbers for the language learning platform remained strong.
The language learning platform also reported preliminary fourth-quarter results, with daily active user (DAU) growth of around 30%, and bookings around or slightly above the high end of its previously disclosed forecast range of $335.5 million.
Duolingo Inc. (NASDAQ:DUOL) operates as a mobile learning platform in the US, the UK, and internationally. The company offers courses in 40 different languages through its Duolingo app.
8. Lockheed Martin Corporation (NYSE:LMT)
Share Price Performance (Sep 30 – Jan 16): 16.67%
Bridgewater Associates Stake Value: $22.58 million
Number of Hedge Fund Holders: 68
Lockheed Martin Corporation (NYSE:LMT) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 9, Truist Securities upgraded Lockheed Martin Corporation (NYSE:LMT) from Hold to Buy, raising its price target to $605 from $500. The boost follows Lockheed Martin’s slump in 2025, with Truist citing an appealing valuation that offers a “compelling risk/reward profile” for 2026.
The firm projects better execution and operational efficiency for Lockheed Martin Corporation (NYSE:LMT) in 2026, as well as lower estimated costs at completion (EACs), and anticipates the company’s Missiles and Fire Control (MFC) division to drive revenue growth with double-digit rises due to increased capacity along with elevated global demand.
Moreover, Lockheed Martin Corporation (NYSE:LMT) delivered a record 191 F-35 Lightning II fighter jets in 2025, above the previous high of 142 aircraft. This milestone occurs as the F-35 program approaches one million flying hours and concludes the TR-3 software update. Truist stated that, while the F-35 program continues to be “an easy target,” worries related to the Defense Department’s Office of General Evaluation (DOGE) had “largely subsided.”
Lockheed Martin Corporation (NYSE:LMT) is one of the largest defense contractors in the world. It specializes in the research, design, and development of advanced technology systems, products, and services.
7. Teradyne, Inc. (NASDAQ:TER)
Share Price Performance (Sep 30 – Jan 16): 65.75%
Bridgewater Associates Stake Value: $28.5 million
Number of Hedge Fund Holders: 58
Teradyne, Inc. (NASDAQ:TER) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On December 15, Goldman Sachs raised Teradyne, Inc. (NASDAQ:TER) from Sell to Buy and boosted its price target to $230 from $148, noting anticipated expansion in the company’s semiconductor test division. Teradyne, Inc. (NASDAQ:TER) reported solid third-quarter earnings, with revenue jumping 18% quarter-over-quarter, mostly due to artificial intelligence-related demand from large-scale datacenter expansions.
The firm had previously taken a cautious approach on Teradyne, Inc. (NASDAQ:TER) due to predictions of a slow recovery in the mobile industry, which it admits has mostly occurred as expected.
Additionally, Teradyne, Inc. (NASDAQ:TER) revealed plans to establish a new US Operations Hub in Wixom, Michigan, by 2026. This facility will manufacture industrial collaborative robots, with the potential to build MiR autonomous mobile robots in the future. The hub is projected to generate more than 200 job opportunities and serve as a regional center for client education and services.
Teradyne, Inc. (NASDAQ:TER) designs, develops, and manufactures automated test equipment (ATE) and advanced robotics systems for the manufacturing and electronics industries.
6. Halozyme Therapeutics, Inc. (NASDAQ:HALO)
Share Price Performance (Sep 30 – Jan 16): -2.90%
Bridgewater Associates Stake Value: $35.7 million
Number of Hedge Fund Holders: 41
Halozyme Therapeutics, Inc. (NASDAQ:HALO) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 8, TD Cowen boosted Halozyme Therapeutics, Inc. (NASDAQ:HALO) price target from $79 to $90 while maintaining a Buy rating on the company’s shares. The firm stated that Halozyme Therapeutics, Inc. (NASDAQ:HALO) is expected to enhance its multi-year outlook after strong beats and gains in recent quarters.
TD Cowen believes that the general forecasts regarding several ongoing ENHANZE launches are “overly conservative,” and that extra resources in late-stage development will likely add momentum to the company’s subcutaneous medication delivery technology.
Furthermore, Halozyme Therapeutics, Inc. (NASDAQ:HALO) has signed a global collaboration and exclusive licensing deal with Takeda for its ENHANZE drug delivery technology. The agreement states that Takeda will provide an upfront payment to Halozyme Therapeutics, Inc. (NASDAQ:HALO), as well as potential future development and commercial milestone payments. Halozyme Therapeutics, Inc. (NASDAQ:HALO) will also be owed royalties ranging from low to mid single digits on sales of products comprising vedolizumab in conjunction with ENHANZE.
Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharmaceutical technology platform company that develops, manufactures, and commercializes drug-device combination products through advanced auto-injector technology.
5. CoreWeave Inc. (NASDAQ:CRWV)
Share Price Performance (Sep 30 – Jan 16): -26.03%
Bridgewater Associates Stake Value: $37 million
Number of Hedge Fund Holders: 62
CoreWeave Inc. (NASDAQ:CRWV) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 6, Truist Securities initiated coverage of CoreWeave Inc. (NASDAQ:CRWV) with a Hold rating and a $84 price target. According to the firm, the company continues to maintain a solid partnership with NVIDIA, which Truist considers critical to CoreWeave’s business since it provides access to GPUs. This coincides with CoreWeave’s plans to embed NVIDIA Rubin technology into its AI cloud platform, with delivery scheduled for the latter half of 2026.
Additionally, CoreWeave Inc. (NASDAQ:CRWV) has seen strong demand for its cloud services, with revenue increasing by more than 14 times in fiscal year 2023, over 8 times in fiscal year 2024, and more than 2 times in fiscal year 2025. Despite this growth trend, analyst Arvind Ramnani believes the company’s risk/reward profile is balanced given CoreWeave’s significant leverage and capital expenditure required to run the business.
CoreWeave Inc. (NASDAQ:CRWV) operates a cloud platform that provides scaling, support, and acceleration for GenAI. It builds the infrastructure that supports compute workloads for enterprises.
4. Union Pacific Corporation (NYSE:UNP)
Share Price Performance (Sep 30 – Jan 16): -2.91%
Bridgewater Associates Stake Value: $46 million
Number of Hedge Fund Holders: 99
CoreWeave Inc. (NASDAQ:CRWV) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 7, BMO Capital downgraded Union Pacific Corporation (NYSE:UNP) from Outperform to Market Perform and cut its price target to $255 from $270. The revision comes as BMO describes Union Pacific’s planned merger with Norfolk Southern as “one of the most consequential developments in the rail industry in decades.”
The firm noted increased regulatory uncertainty around the merger, which has the potential to impact the marketplace and the regulatory framework that governs U.S. railroads. The downgrade further points to persistent softness in freight demand, prompting BMO Capital to take a more cautious position on Union Pacific Corporation (NYSE:UNP), despite the merger proposal describing potentially attractive earnings and free cash flow under favorable conditions.
In addition to the merger, Union Pacific Corporation (NYSE:UNP) intends to set up the Mainline Texas Industrial Park, a 2,000-acre facility near Houston that will include both rail and non-rail industrial and commercial facilities.
Union Pacific Corporation (NYSE:UNP) is one of the largest railroad operators in the United States. It transports a wide range of goods, including grain, food items, fertilizers, coal, and renewable products.
3. Autodesk, Inc. (NASDAQ:ADSK)
Share Price Performance (Sep 30 – Jan 16): -16.36%
Bridgewater Associates Stake Value: $48.45 million
Number of Hedge Fund Holders: 83
Autodesk, Inc. (NASDAQ:ADSK) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 9, Rothschild analysts initiated coverage of Autodesk, Inc. (NASDAQ:ADSK) with a Buy rating and a $375 price target, stating that the company is on track to grow more rapidly than its end markets and recent projections suggest. According to the firm, Autodesk, Inc. (NASDAQ:ADSK) is a world leader in design, engineering, and construction software, a sector that Rothschild believes will be worth $51 billion by fiscal 2029.
According to Rothschild, Autodesk’s architecture, engineering, construction, and operations portfolio accounts for more than half of its revenue, and has been the company’s strongest division over the previous decade.
Although Autodesk, Inc. (NASDAQ:ADSK) has established a strong presence in design software with products like AutoCAD and Revit, analysts expect it to further cement its dominance. They noted higher adoption of building information modeling regulations, the monetization of AI features, and consistent global construction activity as major contributors.
Autodesk, Inc. (NASDAQ:ADSK) is a leading software provider to designers, engineers, and builders. Its technology spans architectural, engineering, construction, product design, and manufacturing.
2. Robinhood Markets Inc. (NASDAQ:HOOD)
Share Price Performance (Sep 30 – Jan 16): -24.05%
Bridgewater Associates Stake Value: $115.6 million
Number of Hedge Fund Holders: 77
Robinhood Markets Inc. (NASDAQ:HOOD) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 5, Piper Sandler reaffirmed its Overweight rating on Robinhood Markets Inc. (NASDAQ:HOOD) with a $155 price target, citing the company as its top pick to leverage on developing consumer trading trends. The firm emphasized Robinhood’s “unrivaled brand recognition” among Gen Z and Millennial dealers in the US, which is setting the company to profit from shifting investor patterns.
The firm highlighted Robinhood’s prediction market service, which debuted in 2025 and became the company’s most rapidly growing offering ever. Piper Sandler estimates that this prediction market offering already generates more than $300 million in annual revenue.
Meanwhile, Goldman Sachs reduced its price target for Robinhood Markets Inc. (NASDAQ:HOOD) to $161 from $164 on January 5, citing projections that Robinhood Markets Inc. (NASDAQ:HOOD) will achieve “best-in-class” expansion in its top and bottom lines, as well as platform assets, thanks to ongoing product innovation that grows its total addressable market.
Robinhood Markets Inc. (NASDAQ:HOOD) operates a financial services platform in the US. Its platform allows users to invest in stocks, ETFs, American depository receipts, options, gold, and cryptocurrencies.
1. Reddit Inc. (NYSE:RDDT)
Share Price Performance (Sep 30 – Jan 16): 0.44%
Bridgewater Associates Stake Value: $141.95 million
Number of Hedge Fund Holders: 80
Reddit Inc. (NYSE:RDDT) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 8, Cantor Fitzgerald began coverage of Reddit Inc. (NYSE:RDDT) with a Neutral rating and a $240 price target. The firm emphasized Reddit’s solid standing as a prominent digital media platform, with around 120 million daily active users, which includes over 50 million logged-in users who spend between 20 and 45 minutes on the platform each day.
According to analyst Deepak Mathivanan, Reddit’s “differentiated consumer value proposition, strong network effects, and highly valuable content corpus for the AI era,” along with its runway for enhanced monetization presents a key revenue growth driver over the next few years.
Meanwhile, Piper Sandler reaffirmed an Overweight rating on Reddit Inc. (NYSE:RDDT) and set a $290 price target on the company’s shares, citing strong upside potential from the company’s data licensing segment. The firm believes Reddit’s data licensing deals with Google and OpenAI are just scratching the surface, and that this section may generate $400 million in revenue by 2027.
Reddit Inc. (NYSE:RDDT) runs a digital community where users may join and establish communities of their choice, as well as engage with others who share similar interests.
While we acknowledge the potential of RDDT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RDDT and that has 100x upside potential, check out our report about this cheapest AI stock.
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