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 | |
|---|---|---|---|---|---|---|---|
351
Coeur Mining
CDE
$15.8B
| $9.21M | 0.04% |
564,251
-738,550
| -57% | -$13.5M |
2025 Q3
3 quarters
|
|
352
Prosperity Bancshares
PB
$8.08B
| $9.07M | 0.04% |
124,251
+80,534
| +184% | +$5.6M |
2025 Q2
4 quarters
|
|
353
Harmony Biosciences
HRMY
$2.19B
| $9.05M | 0.04% |
248,575
-2,931
| -1% | -$92.5K |
2025 Q3
3 quarters
|
|
354
Brink's
BCO
$4.25B
| $9.05M | 0.04% |
95,752
+45,141
| +89% | +$4.7M |
2025 Q2
4 quarters
|
|
355
Alamos Gold
AGI
$13.4B
| $9.04M | 0.04% |
297,854
+54,409
| +22% | +$2.2M |
2024 Q2
8 quarters
|
|
356
Coca-Cola Consolidated
COKE
$14B
| $8.88M | 0.04% |
46,535
+14,270
| +44% | +$2.66M |
2021 Q2
20 quarters
|
|
357
Sanofi
SNY
$94.8B
| $8.83M | 0.04% |
+206,873
| New | +$9.24M |
2026 Q2
0 quarters
|
|
358
Academy Sports + Outdoors
ASO
$3.59B
| $8.76M | 0.04% |
185,784
+60,084
| +48% | +$3.2M |
2024 Q2
8 quarters
|
|
359
WillScot Mobile Mini Holdings
WSC
$2.84B
| $8.73M | 0.04% |
302,466
-356,520
| -54% | -$8.62M |
2025 Q1
5 quarters
|
|
360
Autodesk
ADSK
$50.3B
| $8.59M | 0.04% |
+44,165
| New | +$10.1M |
2026 Q2
0 quarters
|
|
361
Amcor
AMCR
$20.3B
| $8.53M | 0.04% |
+196,767
| New | +$7.81M |
2026 Q2
0 quarters
|
|
362
Bloom Energy
BE
$66.6B
| $8.52M | 0.04% |
28,147
-17,536
| -38% | -$4.49M |
2025 Q2
4 quarters
|
|
363
Hudbay
HBM
$10.6B
| $8.5M | 0.03% |
359,921
-259,455
| -42% | -$6.56M |
2023 Q3
11 quarters
|
|
364
Boise Cascade
BCC
$2.62B
| $8.39M | 0.03% |
108,049
+13,078
| +14% | +$969K |
2026 Q1
1 quarter
|
|
365
American Airlines Group
AAL
$7.73B
| $8.33M | 0.03% |
460,717
+14,124
| +3% | +$189K |
2026 Q1
1 quarter
|
|
366
Fluor
FLR
$6.23B
| $8.32M | 0.03% |
158,799
-32,669
| -17% | -$1.6M |
2026 Q1
1 quarter
|
|
367
Symbotic
SYM
$5.07B
| $8.27M | 0.03% |
183,975
+6,988
| +4% | +$356K |
2025 Q3
3 quarters
|
|
368
Medpace
MEDP
$17.3B
| $8.26M | 0.03% |
15,605
-25,530
| -62% | -$11.8M |
2025 Q3
3 quarters
|
|
369
Simpson Manufacturing
SSD
$7.24B
| $8.12M | 0.03% |
+38,770
| New | +$7.25M |
2026 Q2
0 quarters
|
|
370
Expedia Group
EXPE
$35B
| $8.08M | 0.03% |
31,596
+30,507
| +2,801% | +$7.25M |
2022 Q1
17 quarters
|
|
371
Ero Copper
ERO
$3.59B
| $8.06M | 0.03% |
301,291
-41,164
| -12% | -$1.17M |
2023 Q4
10 quarters
|
|
372
Allison Transmission
ALSN
$9.15B
| $8.05M | 0.03% |
71,362
-31,441
| -31% | -$3.82M |
2022 Q2
16 quarters
|
|
373
LyondellBasell Industries
LYB
$20.6B
| $8.04M | 0.03% |
152,648
+144,679
| +1,816% | +$10M |
2026 Q1
1 quarter
|
|
374
Flowserve
FLS
$8.96B
| $8.03M | 0.03% |
108,285
-100,331
| -48% | -$7.63M |
2025 Q4
2 quarters
|
|
375
Argan
AGX
$4.99B
| $8.03M | 0.03% |
10,050
-3,939
| -28% | -$2.62M |
2026 Q1
1 quarter
|
|
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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.