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 | |
|---|---|---|---|---|---|---|---|
426
Range Resources
RRC
$10.1B
| $6.43M | 0.03% |
172,826
+39,954
| +30% | +$1.62M |
2025 Q3
3 quarters
|
|
427
Post Holdings
POST
$3.4B
| $6.42M | 0.03% |
72,779
+13,927
| +24% | +$1.36M |
2021 Q4
18 quarters
|
|
428
CNX Resources
CNX
$5.31B
| $6.38M | 0.03% |
+188,178
| New | +$6.78M |
2026 Q2
0 quarters
|
|
429
Nasdaq
NDAQ
$52.1B
| $6.36M | 0.03% |
+80,751
| New | +$7.08M |
2026 Q2
0 quarters
|
|
430
AerCap
AER
$22.8B
| $6.28M | 0.03% |
43,089
+19,006
| +79% | +$2.7M |
2025 Q4
2 quarters
|
|
431
Kodiak Gas Services
KGS
$4.77B
| $6.25M | 0.03% |
83,192
-70,265
| -46% | -$4.78M |
2025 Q3
3 quarters
|
|
432
Pilgrim's Pride
PPC
$6.79B
| $6.21M | 0.03% |
220,951
+131,721
| +148% | +$4.05M |
2020 Q3
23 quarters
|
|
433
Kohl's
KSS
$2.43B
| $6.17M | 0.03% |
347,967
+235,707
| +210% | +$3.5M |
2025 Q4
2 quarters
|
|
434
Oscar Health
OSCR
$10B
| $6.09M | 0.03% |
+213,704
| New | +$4.6M |
2026 Q2
0 quarters
|
|
435
Cirrus Logic
CRUS
$5.44B
| $6.05M | 0.02% |
40,733
+8,523
| +26% | +$1.4M |
2025 Q3
3 quarters
|
|
436
Nextpower Inc. Common Stock
NXT
$12.1B
| $6.03M | 0.02% |
50,590
-201,106
| -80% | -$24.8M |
2023 Q3
11 quarters
|
|
437
Ivanhoe Electric
IE
$1.4B
| $6.03M | 0.02% |
627,037
+60,218
| +11% | +$761K |
2025 Q3
3 quarters
|
|
438
Hanover Insurance
THG
$8.03B
| $6.02M | 0.02% |
28,113
+12,154
| +76% | +$2.3M |
2021 Q4
18 quarters
|
|
439
Coherent
COHR
$45.7B
| $6M | 0.02% |
15,206
-148,162
| -91% | -$52.4M |
2025 Q4
2 quarters
|
|
440
Boyd Gaming
BYD
$5.16B
| $5.99M | 0.02% |
67,825
-93,126
| -58% | -$7.92M |
2023 Q2
12 quarters
|
|
441
General Dynamics
GD
$92.4B
| $5.98M | 0.02% |
+16,888
| New | +$5.78M |
2026 Q2
0 quarters
|
|
442
Kenvue
KVUE
$36.2B
| $5.95M | 0.02% |
311,241
+186,291
| +149% | +$3.28M |
2023 Q4
10 quarters
|
|
443
Towne Bank
TOWN
$3.21B
| $5.92M | 0.02% |
163,477
-64,020
| -28% | -$2.24M |
2025 Q3
3 quarters
|
|
444
Archrock
AROC
$5.15B
| $5.92M | 0.02% |
+145,297
| New | +$5.35M |
2026 Q2
0 quarters
|
|
445
American Tower
AMT
$85.3B
| $5.88M | 0.02% |
35,924
-20,990
| -37% | -$3.78M |
2024 Q4
6 quarters
|
|
446
Sonoco
SON
$4.92B
| $5.82M | 0.02% |
103,361
-81,936
| -44% | -$4.2M |
2025 Q3
3 quarters
|
|
447
Hecla Mining
HL
$10.1B
| $5.8M | 0.02% |
376,150
-104,828
| -22% | -$1.84M |
2025 Q3
3 quarters
|
|
448
Federal Signal
FSS
$6.89B
| $5.8M | 0.02% |
45,152
+20,878
| +86% | +$2.39M |
2025 Q3
3 quarters
|
|
449
Equinox Gold
EQX
$12.9B
| $5.76M | 0.02% |
592,899
+574,686
| +3,155% | +$7.41M |
2026 Q1
1 quarter
|
|
450
Ameriprise Financial
AMP
$42.4B
| $5.75M | 0.02% |
12,536
+4,398
| +54% | +$2.02M |
2024 Q2
8 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.