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 | |
|---|---|---|---|---|---|---|
26
Celestica
CLS
$43.4B
| $121M | 0.49% |
330,689
-194,932
| -37% | -$73.2M |
|
27
Vistra
VST
$47.3B
| $119M | 0.49% |
751,695
+403,181
| +116% | +$62.6M |
|
|
28
Shell
SHEL
$266B
| $118M | 0.49% |
1,526,163
+1,214,006
| +389% | +$105M |
|
29
Sea Limited
SE
$62.9B
| $115M | 0.47% |
1,204,563
-133,565
| -10% | -$11.7M |
|
30
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$28.2B
| $115M | 0.47% |
1,050,500
+28,800
| +3% | +$3.14M |
|
31
Nucor
NUE
$55B
| $114M | 0.47% |
513,423
-105,105
| -17% | -$23.8M |
|
32
PACCAR
PCAR
$60.4B
| $114M | 0.47% |
946,107
+169,035
| +22% | +$19.9M |
|
33
Western Digital
WDC
$162B
| $110M | 0.45% |
172,415
-76,624
| -31% | -$37.3M |
|
34
iShares Core MSCI Emerging Markets ETF
IEMG
$166B
| $110M | 0.45% |
1,328,276
-14,668
| -1% | -$1.17M |
|
35
CSX Corp
CSX
$85.2B
| $106M | 0.43% |
2,229,965
-145,263
| -6% | -$6.56M |
|
|
36
Petrobras
PBR
$133B
| $105M | 0.43% |
6,524,553
+5,373,569
| +467% | +$105M |
|
37
Apple
AAPL
$4.95T
| $105M | 0.43% |
364,377
-199,115
| -35% | -$57M |
|
38
Eli Lilly
LLY
$1.04T
| $104M | 0.43% |
87,023
+16,211
| +23% | +$16.6M |
|
39
PG&E
PCG
$38.9B
| $99.8M | 0.41% |
5,931,314
+5,906,783
| +24,079% | +$99.4M |
|
40
KLA
KLAC
$240B
| $99M | 0.41% |
328,070
-758,670
| -70% | -$151M |
|
41
Comfort Systems
FIX
$57.5B
| $96.1M | 0.39% |
48,506
-37,956
| -44% | -$68.9M |
|
42
NXP Semiconductors
NXPI
$58.6B
| $94.8M | 0.39% |
337,405
+74,623
| +28% | +$20.6M |
|
43
Wells Fargo
WFC
$262B
| $94.7M | 0.39% |
1,145,854
+203,274
| +22% | +$16.3M |
|
44
Edison International
EIX
$21.1B
| $91.9M | 0.38% |
1,234,614
+1,093,853
| +777% | +$78M |
|
45
iShares MSCI Emerging Markets ex China ETF
EMXC
$26.1B
| $90.1M | 0.37% |
880,516
-191,764
| -18% | -$18.1M |
|
46
Marathon Petroleum
MPC
$113B
| $89.3M | 0.37% |
349,224
+271,941
| +352% | +$66.8M |
|
47
Steel Dynamics
STLD
$33B
| $86.8M | 0.36% |
378,490
-59,589
| -14% | -$14M |
|
48
Eversource Energy
ES
$25.2B
| $86.4M | 0.35% |
+1,195,140
| New | +$82.8M |
|
49
TE Connectivity
TEL
$60.8B
| $86M | 0.35% |
426,718
+90,544
| +27% | +$19.3M |
|
50
Analog Devices
ADI
$186B
| $80.7M | 0.33% |
203,208
+148,135
| +269% | +$58.6M |
|
Similar funds
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.