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 | |
|---|---|---|---|---|---|---|---|
326
Patterson-UTI
PTEN
$4.6B
| $10.6M | 0.04% |
1,152,000
+1,067,947
| +1,271% | +$11.9M |
2025 Q3
3 quarters
|
|
327
Dycom Industries
DY
$7.67B
| $10.6M | 0.04% |
20,897
-6,035
| -22% | -$2.64M |
2025 Q3
3 quarters
|
|
328
Equinix
EQIX
$96.3B
| $10.4M | 0.04% |
9,966
-14,816
| -60% | -$15.9M |
2023 Q4
10 quarters
|
|
329
Ingredion
INGR
$6.07B
| $10.3M | 0.04% |
108,233
+35,918
| +50% | +$3.8M |
2024 Q4
6 quarters
|
|
330
American Express
AXP
$214B
| $10M | 0.04% |
29,582
+7,805
| +36% | +$2.5M |
2025 Q3
3 quarters
|
|
331
Kosmos Energy
KOS
$1.66B
| $10M | 0.04% |
+4,720,550
| New | +$13.1M |
2026 Q2
0 quarters
|
|
332
Constellium
CSTM
$3.46B
| $9.9M | 0.04% |
311,558
-191,413
| -38% | -$6.18M |
2026 Q1
1 quarter
|
|
333
Sensata Technologies
ST
$5.95B
| $9.9M | 0.04% |
206,951
+31,977
| +18% | +$1.45M |
2024 Q2
8 quarters
|
|
334
Regions Financial
RF
$23.2B
| $9.8M | 0.04% |
325,788
+142,431
| +78% | +$4M |
2025 Q1
5 quarters
|
|
335
First Hawaiian
FHB
$3.03B
| $9.8M | 0.04% |
334,434
+128,694
| +63% | +$3.5M |
2026 Q1
1 quarter
|
|
336
Corebridge Financial
CRBG
$15.3B
| $9.8M | 0.04% |
341,198
-146,211
| -30% | -$3.95M |
2025 Q3
3 quarters
|
|
337
International Bancshares
IBOC
$4.11B
| $9.8M | 0.04% |
128,587
-3,049
| -2% | -$221K |
2026 Q1
1 quarter
|
|
338
MSCI
MSCI
$41B
| $9.8M | 0.04% |
+17,418
| New | +$10.2M |
2026 Q2
0 quarters
|
|
339
Littelfuse
LFUS
$9.8B
| $9.7M | 0.04% |
21,332
-8,057
| -27% | -$3.49M |
2025 Q3
3 quarters
|
|
340
Casey's General Stores
CASY
$25.6B
| $9.7M | 0.04% |
12,192
+8,015
| +192% | +$6.46M |
2020 Q3
23 quarters
|
|
341
Zoetis
ZTS
$32.9B
| $9.6M | 0.04% |
134,203
+83,464
| +164% | +$7.86M |
2022 Q4
14 quarters
|
|
342
Cencora
COR
$64.9B
| $9.6M | 0.04% |
34,045
+19,818
| +139% | +$5.71M |
2020 Q3
23 quarters
|
|
343
Kinetik
KNTK
$4.4B
| $9.6M | 0.04% |
199,024
+134,922
| +210% | +$6.45M |
2026 Q1
1 quarter
|
|
344
Virtu Financial
VIRT
$4.99B
| $9.6M | 0.04% |
160,819
+62,073
| +63% | +$3.27M |
2024 Q2
8 quarters
|
|
345
Chemed
CHE
$6.64B
| $9.5M | 0.04% |
20,399
+15,337
| +303% | +$6.45M |
2020 Q3
23 quarters
|
|
346
Molson Coors Class B
TAP
$7.33B
| $9.39M | 0.04% |
240,967
+231,913
| +2,561% | +$9.7M |
2020 Q3
23 quarters
|
|
347
Talos Energy
TALO
$3.01B
| $9.33M | 0.04% |
+722,518
| New | +$10.8M |
2026 Q2
0 quarters
|
|
348
Assurant
AIZ
$13.8B
| $9.32M | 0.04% |
34,707
+25,741
| +287% | +$6.27M |
2025 Q3
3 quarters
|
|
349
VeriSign
VRSN
$27.7B
| $9.31M | 0.04% |
37,001
+32,639
| +748% | +$9.07M |
2024 Q2
8 quarters
|
|
350
Rockwell Automation
ROK
$47.1B
| $9.26M | 0.04% |
18,697
-19,102
| -51% | -$8.31M |
2024 Q4
6 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.