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 | |
|---|---|---|---|---|---|---|---|
301
Murphy Oil
MUR
$6.09B
| $12M | 0.05% |
369,028
+349,160
| +1,757% | +$13.4M |
2026 Q1
1 quarter
|
|
302
J.M. Smucker
SJM
$13.6B
| $11.9M | 0.05% |
105,870
+3,735
| +4% | +$380K |
2020 Q1
25 quarters
|
|
303
Abercrombie & Fitch
ANF
$6.83B
| $11.9M | 0.05% |
131,677
-116,380
| -47% | -$9.9M |
2024 Q2
8 quarters
|
|
304
Globe Life
GL
$12.9B
| $11.8M | 0.05% |
66,120
+60,996
| +1,190% | +$9.5M |
2024 Q3
7 quarters
|
|
305
Ralliant Corp
RAL
$7.46B
| $11.8M | 0.05% |
159,840
-163,634
| -51% | -$9.12M |
2026 Q1
1 quarter
|
|
306
Parker-Hannifin
PH
$122B
| $11.8M | 0.05% |
12,017
-9,289
| -44% | -$8.51M |
2025 Q3
3 quarters
|
|
307
Kirby Corp
KEX
$7.2B
| $11.7M | 0.05% |
86,416
-44,135
| -34% | -$6.31M |
2025 Q3
3 quarters
|
|
308
Synchrony
SYF
$24B
| $11.7M | 0.05% |
+153,894
| New | +$11.3M |
2026 Q2
0 quarters
|
|
309
Bankunited
BKU
$2.94B
| $11.6M | 0.05% |
239,674
-8,924
| -4% | -$420K |
2025 Q3
3 quarters
|
|
310
Xcel Energy
XEL
$46.8B
| $11.6M | 0.05% |
+144,263
| New | +$11.5M |
2026 Q2
0 quarters
|
|
311
Ouster
OUST
$2.1B
| $11.5M | 0.05% |
+183,455
| New | +$6.17M |
2026 Q2
0 quarters
|
|
312
Darling Ingredients
DAR
$9.49B
| $11.5M | 0.05% |
209,736
+66,942
| +47% | +$4M |
2025 Q4
2 quarters
|
|
313
Equitable Holdings
EQH
$14.5B
| $11.5M | 0.05% |
261,023
-197,393
| -43% | -$8.25M |
2024 Q3
7 quarters
|
|
314
Ralph Lauren
RL
$22.8B
| $11.4M | 0.05% |
28,435
+21,414
| +305% | +$7.97M |
2025 Q3
3 quarters
|
|
315
Aecom
ACM
$7.51B
| $11.4M | 0.05% |
163,405
-19,756
| -11% | -$1.51M |
2025 Q1
5 quarters
|
|
316
Scorpio Tankers
STNG
$4.02B
| $11.4M | 0.05% |
164,254
+76,781
| +88% | +$6M |
2025 Q3
3 quarters
|
|
317
Saic
SAIC
$5.58B
| $11.4M | 0.05% |
102,973
+91,055
| +764% | +$9.21M |
2024 Q2
8 quarters
|
|
318
Kulicke & Soffa
KLIC
$4.28B
| $11.3M | 0.05% |
84,777
+51,228
| +153% | +$5.02M |
2026 Q1
1 quarter
|
|
319
Evercore
EVR
$9.6B
| $11.3M | 0.05% |
33,194
-57,244
| -63% | -$19.6M |
2023 Q2
12 quarters
|
|
320
Toro Company
TTC
$9.5B
| $11.2M | 0.05% |
114,986
+57,660
| +101% | +$5.36M |
2025 Q3
3 quarters
|
|
321
Carlisle Companies
CSL
$13.2B
| $10.9M | 0.04% |
30,108
+6,450
| +27% | +$2.26M |
2022 Q4
14 quarters
|
|
322
American Financial Group
AFG
$12.3B
| $10.9M | 0.04% |
77,989
+16,268
| +26% | +$2.16M |
2024 Q3
7 quarters
|
|
323
Booz Allen Hamilton
BAH
$8.89B
| $10.8M | 0.04% |
177,749
+145,685
| +454% | +$11.1M |
2024 Q4
6 quarters
|
|
324
Louisiana-Pacific
LPX
$4.95B
| $10.7M | 0.04% |
136,271
-32,885
| -19% | -$2.43M |
2026 Q1
1 quarter
|
|
325
Ferguson
FERG
$43.9B
| $10.6M | 0.04% |
44,686
+6,382
| +17% | +$1.54M |
2025 Q3
3 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.