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
|
+$693M |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$235M |
| 3 |
Vanguard S&P 500 ETF
VOO
|
+$200M |
| 4 |
Petrobras
PBR
|
+$105M |
| 5 |
Shell
SHEL
|
+$105M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$1.02B |
| 2 |
Amazon
AMZN
|
+$593M |
| 3 |
TSMC
TSM
|
+$423M |
| 4 |
Marvell Technology
MRVL
|
+$354M |
| 5 |
GE Vernova
GEV
|
+$319M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 30.62% |
| 2 | Technology | 21.23% |
| 3 | Industrials | 7.72% |
| 4 | Financials | 6.76% |
| 5 | Healthcare | 6.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
State Street SPDR S&P 500 ETF Trust
SPY
$798B
| $3.97B | 16.3% |
5,320,308
+955,446
| +22% | +$693M |
|
|
2
iShares Core S&P 500 ETF
IVV
$851B
| $2.25B | 9.22% |
3,002,286
+323,202
| +12% | +$235M |
|
3
NVIDIA
NVDA
$5.49T
| $774M | 3.17% |
3,866,195
-826,808
| -18% | -$170M |
|
4
Broadcom
AVGO
$1.73T
| $498M | 2.04% |
1,317,923
-517,457
| -28% | -$207M |
|
|
5
Amazon
AMZN
$2.79T
| $483M | 1.98% |
2,025,481
-2,363,230
| -54% | -$593M |
|
6
Alphabet (Google) Class A
GOOGL
$4.34T
| $473M | 1.94% |
1,322,176
-675,498
| -34% | -$243M |
|
7
Lam Research
LRCX
$378B
| $407M | 1.67% |
938,224
-633,005
| -40% | -$192M |
|
|
8
Vanguard S&P 500 ETF
VOO
$1.06T
| $315M | 1.29% |
458,381
+299,753
| +189% | +$200M |
|
9
Advanced Micro Devices
AMD
$1T
| $313M | 1.28% |
538,632
-754,135
| -58% | -$309M |
|
10
iShares MSCI South Korea ETF
EWY
$27.6B
| $280M | 1.15% |
1,384,772
-381,492
| -22% | -$67.3M |
|
11
Microsoft
MSFT
$3.72T
| $266M | 1.09% |
711,896
-373,083
| -34% | -$151M |
|
12
Newmont
NEM
$130B
| $252M | 1.03% |
2,695,170
+378,529
| +16% | +$41.2M |
|
13
Applied Materials
AMAT
$368B
| $211M | 0.86% |
291,426
-268,492
| -48% | -$124M |
|
14
Oracle
ORCL
$449B
| $210M | 0.86% |
1,432,967
-159,102
| -10% | -$28.8M |
|
15
Seagate
STX
$199B
| $193M | 0.79% |
199,822
-129,295
| -39% | -$98.6M |
|
16
Johnson & Johnson
JNJ
$649B
| $170M | 0.7% |
669,135
-27,749
| -4% | -$6.47M |
|
17
Vanguard FTSE Emerging Markets ETF
VWO
$129B
| $164M | 0.67% |
2,746,819
+25,079
| +0.9% | +$1.47M |
|
|
18
GE Vernova
GEV
$252B
| $144M | 0.59% |
122,768
-312,129
| -72% | -$319M |
|
19
Union Pacific
UNP
$160B
| $140M | 0.57% |
514,266
-18,584
| -3% | -$4.88M |
|
|
20
Micron Technology
MU
$1.18T
| $135M | 0.55% |
116,666
-1,359,038
| -92% | -$1.02B |
|
21
iShares MBS ETF
MBB
$39B
| $131M | 0.54% |
1,386,800
+26,800
| +2% | +$2.53M |
|
22
Altria Group
MO
$114B
| $124M | 0.51% |
1,727,216
+21,705
| +1% | +$1.51M |
|
23
Amphenol
APH
$199B
| $123M | 0.5% |
1,395,224
-330,872
| -19% | -$23.9M |
|
24
ASML
ASML
$657B
| $123M | 0.5% |
61,675
-30,521
| -33% | -$48.6M |
|
|
B
25
Barrick Mining
B
$70.3B
| $121M | 0.5% |
3,304,836
+225,593
| +7% | +$9.25M |
|
Similar funds
Ray Dalio's Q2 2026 Portfolio in Review
As of Q2 2026, Ray Dalio held 1,206 positions worth $24.4B, up 8.8% from $22.4B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Ray Dalio withdrew a net $3.05B in Q2 2026, closing 209 positions and reducing 379 holdings. Its most notable exit was Cisco, an estimated $63.8M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 31% of assets, up from 25% a quarter earlier, followed by Technology and Industrials.
Against the trend, Ray Dalio opened a new position in Eversource Energy worth $86.4M.
- Ray Dalio's largest Q2 2026 buy was Eversource Energy: 1,195,140 shares worth $86.4M.
- Ray Dalio added most to State Street SPDR S&P 500 ETF Trust in Q2 2026, an estimated $693M increase.
- Ray Dalio's biggest Q2 2026 reduction was Micron Technology, cutting an estimated $1.02B.
- Ray Dalio fully exited Cisco in Q2 2026, selling an estimated $63.8M.
- Ray Dalio's ten largest holdings make up 40% of its $24.4B portfolio in Q2 2026.
- Ray Dalio opened 213 new positions and closed 209 in Q2 2026.
- Ray Dalio's portfolio value rose 8.8% quarter-over-quarter to $24.4B.
Based on Bridgewater Associates's 13F filing for Q2 2026, filed 14 Aug 2026.