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 | Held Since | |
|---|---|---|---|---|---|---|---|
276
Murphy USA
MUSA
$10B
| $13.3M | 0.05% |
24,628
+19,806
| +411% | +$10.8M |
2025 Q3
3 quarters
|
|
277
Noble Corp
NE
$7.01B
| $13.2M | 0.05% |
+354,817
| New | +$17M |
2026 Q2
0 quarters
|
|
278
ResMed
RMD
$33.6B
| $13.1M | 0.05% |
67,381
+28,144
| +72% | +$5.83M |
2020 Q3
23 quarters
|
|
279
EnerSys
ENS
$6.11B
| $13M | 0.05% |
55,597
+36,308
| +188% | +$7.88M |
2025 Q3
3 quarters
|
|
280
First Citizens BancShares
FCNCA
$23.8B
| $13M | 0.05% |
6,236
-3,078
| -33% | -$6.17M |
2025 Q3
3 quarters
|
|
281
Fidelity National Information Services
FIS
$18.5B
| $12.9M | 0.05% |
332,616
+274,530
| +473% | +$11.9M |
2024 Q2
8 quarters
|
|
282
Remitly
RELY
$5.14B
| $12.9M | 0.05% |
576,318
+341,599
| +146% | +$7M |
2024 Q4
6 quarters
|
|
283
US Bancorp
USB
$90.4B
| $12.9M | 0.05% |
213,493
-82,224
| -28% | -$4.61M |
2025 Q3
3 quarters
|
|
284
Match Group
MTCH
$10.2B
| $12.8M | 0.05% |
+336,896
| New | +$11.9M |
2026 Q2
0 quarters
|
|
285
C.H. Robinson
CHRW
$16.2B
| $12.8M | 0.05% |
67,802
+50,883
| +301% | +$9.04M |
2025 Q4
2 quarters
|
|
286
Travelers Companies
TRV
$80.4B
| $12.7M | 0.05% |
38,570
+11,335
| +42% | +$3.44M |
2021 Q4
18 quarters
|
|
287
SEI Investments
SEIC
$12.5B
| $12.7M | 0.05% |
144,423
-88,252
| -38% | -$7.7M |
2020 Q4
22 quarters
|
|
288
Prudential Financial
PRU
$39.2B
| $12.6M | 0.05% |
116,719
-35,382
| -23% | -$3.6M |
2022 Q4
14 quarters
|
|
289
Chord Energy
CHRD
$8.47B
| $12.5M | 0.05% |
+109,612
| New | +$14.9M |
2026 Q2
0 quarters
|
|
290
Cboe Global Markets
CBOE
$32B
| $12.5M | 0.05% |
51,486
+36,640
| +247% | +$11.2M |
2025 Q3
3 quarters
|
|
291
Pan American Silver
PAAS
$18.3B
| $12.4M | 0.05% |
277,592
+126,129
| +83% | +$6.76M |
2026 Q1
1 quarter
|
|
292
TD Synnex
SNX
$20B
| $12.4M | 0.05% |
46,474
-72,615
| -61% | -$17.5M |
2024 Q2
8 quarters
|
|
293
Global Payments
GPN
$22.2B
| $12.3M | 0.05% |
+170,130
| New | +$11.7M |
2026 Q2
0 quarters
|
|
294
Royalty Pharma
RPRX
$26.8B
| $12.3M | 0.05% |
+219,687
| New | +$11.4M |
2026 Q2
0 quarters
|
|
295
MongoDB
MDB
$28.1B
| $12.2M | 0.05% |
36,467
-13,027
| -26% | -$3.91M |
2025 Q4
2 quarters
|
|
296
Victoria's Secret
VSXY
$7.13B
| $12.2M | 0.05% |
146,639
-253,660
| -63% | -$15.2M |
2025 Q4
2 quarters
|
|
297
Viasat
VSAT
$8.39B
| $12.2M | 0.05% |
135,517
+55,687
| +70% | +$3.69M |
2025 Q3
3 quarters
|
|
298
WSFS Financial
WSFS
$3.88B
| $12.2M | 0.05% |
158,444
+69,105
| +77% | +$4.95M |
2026 Q1
1 quarter
|
|
299
MKS Inc
MKSI
$14.7B
| $12.1M | 0.05% |
27,198
-10,935
| -29% | -$3.42M |
2026 Q1
1 quarter
|
|
300
Illinois Tool Works
ITW
$77.1B
| $12.1M | 0.05% |
44,644
+9,590
| +27% | +$2.49M |
2025 Q4
2 quarters
|
|
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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.