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 | |
|---|---|---|---|---|---|---|---|
601
Mohawk Industries
MHK
$8.06B
| $2.92M | 0.01% |
24,091
+8,899
| +59% | +$936K |
2025 Q4
2 quarters
|
|
602
Vaxcyte
PCVX
$10.4B
| $2.92M | 0.01% |
50,217
+37,314
| +289% | +$2.03M |
2026 Q1
1 quarter
|
|
603
WEC Energy
WEC
$35.4B
| $2.92M | 0.01% |
+24,998
| New | +$2.85M |
2026 Q2
0 quarters
|
|
604
Acuity Brands
AYI
$9.31B
| $2.91M | 0.01% |
7,727
-22,350
| -74% | -$6.63M |
2026 Q1
1 quarter
|
|
605
Constellation Brands
STZ
$22.5B
| $2.91M | 0.01% |
20,906
+9,383
| +81% | +$1.39M |
2020 Q1
25 quarters
|
|
606
MGM Resorts International
MGM
$7.27B
| $2.91M | 0.01% |
60,791
+22,717
| +60% | +$944K |
2026 Q1
1 quarter
|
|
607
MasTec
MTZ
$15B
| $2.9M | 0.01% |
6,969
-33,169
| -83% | -$12.7M |
2025 Q4
2 quarters
|
|
608
SOLV Energy Inc
MWH
$4.64B
| $2.9M | 0.01% |
85,060
-16,985
| -17% | -$616K |
2026 Q1
1 quarter
|
|
609
DELISTED
Qorvo
QRVO
| $2.89M | 0.01% |
31,016
-6,123
| -16% | -$565K |
2025 Q2
4 quarters
|
|
610
Invitation Homes
INVH
$15.9B
| $2.89M | 0.01% |
95,727
+72,089
| +305% | +$2.04M |
2025 Q4
2 quarters
|
|
611
Arrow Electronics
ARW
$10.9B
| $2.88M | 0.01% |
+13,511
| New | +$2.7M |
2026 Q2
0 quarters
|
|
612
Estee Lauder
EL
$38.4B
| $2.88M | 0.01% |
36,502
+11,418
| +46% | +$922K |
2020 Q3
23 quarters
|
|
613
AutoZone
AZO
$51.1B
| $2.87M | 0.01% |
897
+398
| +80% | +$1.32M |
2026 Q1
1 quarter
|
|
614
Flowers Foods
FLO
$1.27B
| $2.86M | 0.01% |
362,451
+196,542
| +118% | +$1.57M |
2020 Q3
23 quarters
|
|
615
Viavi Solutions
VIAV
$8.54B
| $2.83M | 0.01% |
59,233
+51,631
| +679% | +$2.47M |
2026 Q1
1 quarter
|
|
616
Clear Secure
YOU
$4.68B
| $2.82M | 0.01% |
+50,653
| New | +$2.77M |
2026 Q2
0 quarters
|
|
617
Selective Insurance
SIGI
$5.33B
| $2.81M | 0.01% |
28,916
-1,156
| -4% | -$100K |
2024 Q4
6 quarters
|
|
618
Clearway Energy Class C
CWEN
$3.66B
| $2.8M | 0.01% |
81,942
+69,966
| +584% | +$2.71M |
2025 Q2
4 quarters
|
|
619
Indivior Pharmaceuticals
INDV
$4.1B
| $2.8M | 0.01% |
68,181
+31,040
| +84% | +$1.13M |
2026 Q1
1 quarter
|
|
620
DELISTED
National Storage Affiliates Trust
NSA
| $2.79M | 0.01% |
+62,778
| New | +$2.69M |
2026 Q2
0 quarters
|
|
621
Powell Industries
POWL
$6.01B
| $2.75M | 0.01% |
+9,611
| New | +$2.61M |
2026 Q2
0 quarters
|
|
622
PROG Holdings
PRG
$1.23B
| $2.75M | 0.01% |
58,978
+15,636
| +36% | +$546K |
2025 Q3
3 quarters
|
|
623
Northern Trust
NTRS
$30.3B
| $2.75M | 0.01% |
15,796
+1,141
| +8% | +$188K |
2025 Q4
2 quarters
|
|
624
Sarepta Therapeutics
SRPT
$2.02B
| $2.73M | 0.01% |
152,068
+17,791
| +13% | +$336K |
2025 Q3
3 quarters
|
|
625
Doximity
DOCS
$5.94B
| $2.73M | 0.01% |
131,447
+11,428
| +10% | +$253K |
2025 Q4
2 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.