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 | |
|---|---|---|---|---|---|---|---|
576
Boston Beer
SAM
$1.9B
| $3.3M | 0.01% |
18,630
+16,779
| +906% | +$3.4M |
2025 Q3
3 quarters
|
|
577
Radian Group
RDN
$4.59B
| $3.28M | 0.01% |
86,963
+26,611
| +44% | +$944K |
2025 Q3
3 quarters
|
|
578
General Mills
GIS
$17.9B
| $3.24M | 0.01% |
93,154
+11,451
| +14% | +$395K |
2020 Q1
25 quarters
|
|
579
AutoNation
AN
$5.35B
| $3.21M | 0.01% |
17,265
+11,058
| +178% | +$2.16M |
2026 Q1
1 quarter
|
|
580
BWX Technologies
BWXT
$12.3B
| $3.2M | 0.01% |
16,446
-5,992
| -27% | -$1.25M |
2025 Q4
2 quarters
|
|
581
Dolby
DLB
$5.84B
| $3.17M | 0.01% |
+60,275
| New | +$3.46M |
2026 Q2
0 quarters
|
|
582
Wabtec
WAB
$47.9B
| $3.17M | 0.01% |
+11,749
| New | +$3.11M |
2026 Q2
0 quarters
|
|
583
Harley-Davidson
HOG
$2.83B
| $3.15M | 0.01% |
128,632
+41,832
| +48% | +$1.01M |
2025 Q3
3 quarters
|
|
584
DELISTED
Leggett & Platt
LEG
| $3.13M | 0.01% |
+267,640
| New | +$2.82M |
2026 Q2
0 quarters
|
|
585
Zimmer Biomet
ZBH
$18.3B
| $3.11M | 0.01% |
36,150
+2,157
| +6% | +$189K |
2020 Q3
23 quarters
|
|
586
Mattel
MAT
$4.85B
| $3.08M | 0.01% |
221,840
+180,517
| +437% | +$2.64M |
2026 Q1
1 quarter
|
|
587
MYR Group
MYRG
$4.28B
| $3.07M | 0.01% |
+6,145
| New | +$2.52M |
2026 Q2
0 quarters
|
|
588
BJs Wholesale Club
BJ
$12.9B
| $3.06M | 0.01% |
35,135
+6,598
| +23% | +$604K |
2022 Q3
15 quarters
|
|
589
Agilent Technologies
A
$48.8B
| $3.04M | 0.01% |
22,889
-50,800
| -69% | -$6.19M |
2025 Q3
3 quarters
|
|
590
Brookfield Asset Management
BAM
$73.4B
| $3.03M | 0.01% |
67,547
+37,168
| +122% | +$1.75M |
2026 Q1
1 quarter
|
|
591
Marsh
MRSH
$91.3B
| $2.99M | 0.01% |
+17,949
| New | +$3M |
2026 Q2
0 quarters
|
|
592
Avantor
AVTR
$11.2B
| $2.98M | 0.01% |
301,219
+173,010
| +135% | +$1.49M |
2026 Q1
1 quarter
|
|
593
NetApp
NTAP
$41.2B
| $2.98M | 0.01% |
19,260
-92,231
| -83% | -$12.1M |
2022 Q1
17 quarters
|
|
594
Essential Utilities
WTRG
$11.6B
| $2.97M | 0.01% |
77,551
+2,578
| +3% | +$98.4K |
2025 Q4
2 quarters
|
|
595
AbbVie
ABBV
$511B
| $2.96M | 0.01% |
11,775
-18,587
| -61% | -$4M |
2021 Q2
20 quarters
|
|
596
Viper Energy
VNOM
$8.91B
| $2.95M | 0.01% |
+69,569
| New | +$3.21M |
2026 Q2
0 quarters
|
|
597
L3Harris
LHX
$46.3B
| $2.95M | 0.01% |
10,139
-7,677
| -43% | -$2.44M |
2025 Q4
2 quarters
|
|
598
Oklo
OKLO
$5.11B
| $2.94M | 0.01% |
56,194
+1,238
| +2% | +$77.3K |
2025 Q3
3 quarters
|
|
599
NVR
NVR
$15.9B
| $2.94M | 0.01% |
431
-536
| -55% | -$3.41M |
2019 Q2
28 quarters
|
|
600
Par Pacific Holdings
PARR
$4.26B
| $2.93M | 0.01% |
52,323
+30,369
| +138% | +$1.81M |
2024 Q4
6 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.