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 | |
|---|---|---|---|---|---|---|---|
526
Ryanair
RYAAY
$27.9B
| $3.94M | 0.02% |
60,852
-340,008
| -85% | -$20M |
2025 Q1
5 quarters
|
|
527
Dentsply Sirona
XRAY
$1.75B
| $3.93M | 0.02% |
+369,968
| New | +$4.04M |
2026 Q2
0 quarters
|
|
528
Alpha Metallurgical Resources
AMR
$2B
| $3.92M | 0.02% |
23,752
+7,570
| +47% | +$1.44M |
2025 Q3
3 quarters
|
|
529
Morgan Stanley
MS
$284B
| $3.92M | 0.02% |
18,729
+3,967
| +27% | +$786K |
2025 Q4
2 quarters
|
|
530
Merck
MRK
$365B
| $3.89M | 0.02% |
+30,254
| New | +$3.54M |
2026 Q2
0 quarters
|
|
531
General Motors
GM
$66.1B
| $3.86M | 0.02% |
50,097
-78,490
| -61% | -$6.17M |
2025 Q4
2 quarters
|
|
532
Stryker
SYK
$117B
| $3.83M | 0.02% |
12,155
-14,255
| -54% | -$4.49M |
2020 Q1
25 quarters
|
|
533
PENN Entertainment
PENN
$1.98B
| $3.8M | 0.02% |
177,932
+27,544
| +18% | +$494K |
2026 Q1
1 quarter
|
|
534
Kontoor Brands
KTB
$4.1B
| $3.78M | 0.02% |
45,304
-43,551
| -49% | -$3.18M |
2025 Q3
3 quarters
|
|
535
Haleon
HLN
$44.6B
| $3.76M | 0.02% |
+403,127
| New | +$3.75M |
2026 Q2
0 quarters
|
|
536
AT&T
T
$161B
| $3.74M | 0.02% |
180,894
+20,531
| +13% | +$510K |
2026 Q1
1 quarter
|
|
537
West Pharmaceutical
WST
$27.3B
| $3.74M | 0.02% |
10,429
-12,732
| -55% | -$3.89M |
2025 Q4
2 quarters
|
|
538
Veralto
VLTO
$24.7B
| $3.74M | 0.02% |
+42,120
| New | +$3.66M |
2026 Q2
0 quarters
|
|
539
Eos Energy Enterprises
EOSE
$637M
| $3.72M | 0.02% |
+633,125
| New | +$4.4M |
2026 Q2
0 quarters
|
|
540
SS&C Technologies
SSNC
$20.4B
| $3.72M | 0.02% |
59,934
+25,230
| +73% | +$1.71M |
2026 Q1
1 quarter
|
|
541
OneMain Financial
OMF
$6.47B
| $3.72M | 0.02% |
60,961
-48,791
| -44% | -$2.75M |
2024 Q2
8 quarters
|
|
542
Genuine Parts
GPC
$17.4B
| $3.69M | 0.02% |
31,255
+22,070
| +240% | +$2.3M |
2025 Q3
3 quarters
|
|
543
Cooper Companies
COO
$11.2B
| $3.67M | 0.02% |
51,168
+45,057
| +737% | +$2.95M |
2020 Q3
23 quarters
|
|
544
Interactive Brokers
IBKR
$37.4B
| $3.66M | 0.02% |
42,076
-30,261
| -42% | -$2.52M |
2025 Q3
3 quarters
|
|
545
Humana
HUM
$51.5B
| $3.64M | 0.01% |
+9,152
| New | +$2.61M |
2026 Q2
0 quarters
|
|
546
National Fuel Gas
NFG
$7.54B
| $3.62M | 0.01% |
46,905
-6,164
| -12% | -$510K |
2024 Q4
6 quarters
|
|
547
Expeditors International
EXPD
$25.9B
| $3.62M | 0.01% |
22,183
+7,689
| +53% | +$1.19M |
2026 Q1
1 quarter
|
|
548
NatWest
NWG
$67.9B
| $3.61M | 0.01% |
204,899
-24,507
| -11% | -$394K |
2024 Q4
6 quarters
|
|
549
HP
HPQ
$27.9B
| $3.61M | 0.01% |
164,316
-249,357
| -60% | -$5.52M |
2025 Q3
3 quarters
|
|
550
Carter's
CRI
$1.22B
| $3.6M | 0.01% |
87,541
+25,178
| +40% | +$953K |
2026 Q1
1 quarter
|
|
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.