Ray Dalio
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Ray Dalio’s Cullen/Frost Bankers CFR Stock Holding History

Ray Dalio’s Portfolio CFR Stock Details CFR Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2026
Q1 		$12.7M Sell
92,885
-60,607
-39% -$8.37M 0.06% 225
2025
Q4 		$19.4M Buy
153,492
+14,968
+11% +$1.88M 0.07% 215
2025
Q3 		$17.6M Buy
138,524
+73,402
+113% +$9.54M 0.07% 227
2025
Q2 		$8.37M Buy
+65,122
New +$7.96M 0.03% 279
2023
Q1 		– Sell
-18,421
Closed -$2.46M – 751
2022
Q4 		$2.46M Buy
18,421
+2,799
+18% +$398K 0.01% 497
2022
Q3 		$2.07M Buy
15,622
+10,623
+213% +$1.39M 0.01% 555
2022
Q2 		$582K Sell
4,999
-1,788
-26% -$228K ﹤0.01% 884
2022
Q1 		$939K Sell
6,787
-4,719
-41% -$657K ﹤0.01% 809
2021
Q4 		$1.45M Sell
11,506
-13,627
-54% -$1.75M 0.01% 508
2021
Q3 		$2.98M Buy
25,133
+3,684
+17% +$411K 0.02% 372
2021
Q2 		$2.4M Buy
21,449
+2,503
+13% +$292K 0.02% 459
2021
Q1 		$2.06M Buy
18,946
+10,027
+112% +$1.03M 0.02% 275
2020
Q4 		$778K Buy
+8,919
New +$701K 0.01% 415
2020
Q1 		– Sell
-12,930
Closed -$1.26M – 447
2019
Q4 		$1.26M Buy
+12,930
New +$1.2M 0.01% 284
2019
Q1 		– Sell
-22,447
Closed -$1.97M – 344
2018
Q4 		$1.97M Buy
22,447
+20,294
+943% +$1.98M 0.02% 244
2018
Q3 		$225K Buy
+2,153
New +$239K ﹤0.01% 343
2018
Q2 		– Sell
-9,270
Closed -$983K – 472
2018
Q1 		$983K Buy
+9,270
New +$968K 0.01% 266
2017
Q3 		– Sell
-5,858
Closed -$550K – 302
2017
Q2 		$550K Sell
5,858
-19,032
-76% -$1.76M 0.01% 248
2017
Q1 		$2.21M Buy
+24,890
New +$2.24M 0.03% 142
2016
Q3 		– Sell
-13,272
Closed -$846K – 320
2016
Q2 		$846K Buy
+13,272
New +$819K 0.01% 249

Other funds holding CFR

BlackRock
BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return
Aristotle Capital Management
Aristotle Capital Management Los Angeles, California $47.8B AUM 13.38% 1-Year Est. Return
VPM
Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM
State Street
State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return
VCM
Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM
First Eagle Investment Management
First Eagle Investment Management New York $59.9B AUM 27.01% 1-Year Est. Return
Dimensional Fund Advisors
Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM) Fort Worth, Texas $23.1B AUM 21.31% 1-Year Est. Return
Bank of America
Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Ray Dalio's CFR Position: Q1 2026 in Review

Ray Dalio reduced its Cullen/Frost Bankers (CFR) stake by 39% in Q1 2026, selling an estimated $8.37M and leaving 92,885 shares worth $12.7M. The position accounts for 0.06% of the portfolio, ranked #225.

Ray Dalio first reported a position in CFR in Q2 2016 and has held it in 20 quarters since. The position peaked at $19.4M in Q4 2025. 538 funds tracked by Wall St. Rank hold CFR as of Q1 2026.

  • Ray Dalio held 92,885 shares of Cullen/Frost Bankers worth $12.7M as of Q1 2026.
  • Ray Dalio sold 60,607 Cullen/Frost Bankers shares in Q1 2026, an estimated $8.37M.
  • Cullen/Frost Bankers made up 0.06% of Ray Dalio's portfolio in Q1 2026, its #225 holding.
  • Ray Dalio first reported a position in Cullen/Frost Bankers in Q2 2016 and has held it in 20 quarters since.
  • Ray Dalio's Cullen/Frost Bankers position peaked at $19.4M in Q4 2025.
  • 538 funds tracked by Wall St. Rank held Cullen/Frost Bankers as of Q1 2026.

Based on Bridgewater Associates's 13F filing for Q1 2026, filed 15 May 2026.