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 | |
|---|---|---|---|---|---|---|---|
551
KT
KT
$8.89B
| $3.58M | 0.01% |
207,229
+110,943
| +115% | +$2.21M |
2026 Q1
1 quarter
|
|
552
NorthWestern Energy
NWE
$4.64B
| $3.57M | 0.01% |
49,915
+5,438
| +12% | +$385K |
2024 Q4
6 quarters
|
|
553
Roku
ROKU
$23.4B
| $3.57M | 0.01% |
25,812
-168,656
| -87% | -$20.6M |
2025 Q2
4 quarters
|
|
554
Hewlett Packard
HPE
$74.5B
| $3.55M | 0.01% |
78,658
-1,398,164
| -95% | -$50.5M |
2024 Q2
8 quarters
|
|
555
StubHub Holdings
STUB
$2.27B
| $3.54M | 0.01% |
+275,031
| New | +$2.43M |
2026 Q2
0 quarters
|
|
556
Alcoa
AA
$10.8B
| $3.5M | 0.01% |
67,042
+9,671
| +17% | +$648K |
2026 Q1
1 quarter
|
|
557
Coupang
CPNG
$25.7B
| $3.48M | 0.01% |
+200,576
| New | +$3.62M |
2026 Q2
0 quarters
|
|
558
Centrus Energy
LEU
$2.25B
| $3.48M | 0.01% |
20,702
+2,199
| +12% | +$411K |
2024 Q2
8 quarters
|
|
559
Group 1 Automotive
GPI
$2.9B
| $3.47M | 0.01% |
11,914
+670
| +6% | +$220K |
2022 Q2
16 quarters
|
|
560
Amdocs
DOX
$6.41B
| $3.47M | 0.01% |
+68,580
| New | +$4.21M |
2026 Q2
0 quarters
|
|
561
Viking Therapeutics
VKTX
$3.4B
| $3.43M | 0.01% |
87,859
+16,630
| +23% | +$537K |
2025 Q3
3 quarters
|
|
562
Veracyte
VCYT
$3.6B
| $3.42M | 0.01% |
58,289
-33,301
| -36% | -$1.4M |
2025 Q4
2 quarters
|
|
563
Credit Acceptance
CACC
$5.59B
| $3.4M | 0.01% |
5,333
-5,443
| -51% | -$2.91M |
2024 Q3
7 quarters
|
|
564
Zurn Elkay Water Solutions
ZWS
$7.91B
| $3.38M | 0.01% |
66,897
+18,404
| +38% | +$900K |
2025 Q4
2 quarters
|
|
565
Target
TGT
$70B
| $3.38M | 0.01% |
25,874
-198
| -0.8% | -$25.2K |
2020 Q1
25 quarters
|
|
566
Insight Enterprises
NSIT
$4.82B
| $3.37M | 0.01% |
27,702
-77,797
| -74% | -$7.1M |
2025 Q4
2 quarters
|
|
567
First Majestic Silver
AG
$7.88B
| $3.37M | 0.01% |
198,666
-120,110
| -38% | -$2.38M |
2025 Q4
2 quarters
|
|
568
Perrigo
PRGO
$2.24B
| $3.37M | 0.01% |
324,076
+198,729
| +159% | +$2.19M |
2025 Q4
2 quarters
|
|
569
Thomson Reuters
TRI
$48.9B
| $3.36M | 0.01% |
41,160
-116,280
| -74% | -$10.2M |
2026 Q1
1 quarter
|
|
570
ADMA Biologics
ADMA
$2.52B
| $3.36M | 0.01% |
401,059
-71,049
| -15% | -$648K |
2025 Q3
3 quarters
|
|
571
Albertsons Companies
ACI
$6.54B
| $3.33M | 0.01% |
246,309
+129,646
| +111% | +$2.08M |
2021 Q2
20 quarters
|
|
572
Paylocity
PCTY
$9.02B
| $3.33M | 0.01% |
31,858
+10,063
| +46% | +$1.07M |
2025 Q2
4 quarters
|
|
573
ESCO Technologies
ESE
$6.42B
| $3.32M | 0.01% |
9,477
-9,596
| -50% | -$3M |
2025 Q4
2 quarters
|
|
574
New Jersey Resources
NJR
$5.28B
| $3.31M | 0.01% |
+59,048
| New | +$3.3M |
2026 Q2
0 quarters
|
|
575
lululemon athletica
LULU
$11.6B
| $3.3M | 0.01% |
28,890
+23,342
| +421% | +$3.12M |
2025 Q3
3 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.