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 | |
|---|---|---|---|---|---|---|---|
401
Primerica
PRI
$8.64B
| $7.09M | 0.03% |
24,937
-26,708
| -52% | -$7.31M |
2023 Q1
13 quarters
|
|
402
Colgate-Palmolive
CL
$74.4B
| $7.07M | 0.03% |
77,094
-7,413
| -9% | -$649K |
2020 Q3
23 quarters
|
|
403
Cenovus Energy
CVE
$61.3B
| $7.07M | 0.03% |
+284,802
| New | +$7.86M |
2026 Q2
0 quarters
|
|
404
Jackson Financial
JXN
$8.71B
| $7.06M | 0.03% |
68,945
-19,093
| -22% | -$2.07M |
2025 Q3
3 quarters
|
|
405
Vicor
VICR
$8.79B
| $7M | 0.03% |
18,444
-14,763
| -44% | -$4.03M |
2025 Q3
3 quarters
|
|
406
D.R. Horton
DHI
$37.8B
| $6.97M | 0.03% |
42,798
+19,513
| +84% | +$2.91M |
2019 Q4
26 quarters
|
|
407
Adient
ADNT
$1.36B
| $6.96M | 0.03% |
378,873
+88,774
| +31% | +$1.9M |
2025 Q3
3 quarters
|
|
408
Kroger
KR
$37.2B
| $6.94M | 0.03% |
125,009
-79,076
| -39% | -$5.16M |
2020 Q1
25 quarters
|
|
409
SM Energy
SM
$9.25B
| $6.92M | 0.03% |
+265,019
| New | +$7.96M |
2026 Q2
0 quarters
|
|
410
Rio Tinto
RIO
$146B
| $6.91M | 0.03% |
72,797
-41,442
| -36% | -$4.2M |
2021 Q2
20 quarters
|
|
411
James Hardie Industries
JHX
$14.8B
| $6.9M | 0.03% |
+263,565
| New | +$5.79M |
2026 Q2
0 quarters
|
|
412
Golar LNG
GLNG
$4.58B
| $6.84M | 0.03% |
137,215
+41,201
| +43% | +$2.18M |
2025 Q4
2 quarters
|
|
413
Starbucks
SBUX
$112B
| $6.79M | 0.03% |
66,482
+743
| +1% | +$74.8K |
2020 Q1
25 quarters
|
|
414
Restaurant Brands International
QSR
$25.9B
| $6.78M | 0.03% |
93,449
-11,507
| -11% | -$876K |
2020 Q3
23 quarters
|
|
415
ScottsMiracle-Gro
SMG
$3.17B
| $6.75M | 0.03% |
99,119
+36,718
| +59% | +$2.27M |
2025 Q3
3 quarters
|
|
416
Old Republic International
ORI
$9.48B
| $6.75M | 0.03% |
164,925
+71,113
| +76% | +$2.82M |
2024 Q2
8 quarters
|
|
417
Chewy
CHWY
$8.25B
| $6.75M | 0.03% |
+343,281
| New | +$7.79M |
2026 Q2
0 quarters
|
|
418
SiTime
SITM
$14.9B
| $6.66M | 0.03% |
8,936
-4,519
| -34% | -$2.85M |
2026 Q1
1 quarter
|
|
419
Euronet Worldwide
EEFT
$2.43B
| $6.54M | 0.03% |
89,401
+59,289
| +197% | +$4.14M |
2023 Q4
10 quarters
|
|
420
Performance Food Group
PFGC
$15B
| $6.52M | 0.03% |
58,279
+9,647
| +20% | +$918K |
2024 Q1
9 quarters
|
|
421
KBR
KBR
$4.63B
| $6.5M | 0.03% |
188,121
+100,121
| +114% | +$3.49M |
2025 Q3
3 quarters
|
|
422
Thermo Fisher Scientific
TMO
$251B
| $6.49M | 0.03% |
12,948
-1,539
| -11% | -$739K |
2025 Q4
2 quarters
|
|
423
Baytex Energy
BTE
$3.78B
| $6.48M | 0.03% |
1,620,430
-18,240
| -1% | -$84.3K |
2026 Q1
1 quarter
|
|
424
VICI Properties
VICI
$25.4B
| $6.47M | 0.03% |
243,817
+217,707
| +834% | +$6.1M |
2025 Q3
3 quarters
|
|
425
Mirion Technologies
MIR
$3.72B
| $6.44M | 0.03% |
359,138
+7,353
| +2% | +$136K |
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.