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 | |
|---|---|---|---|---|---|---|---|
651
Keurig Dr Pepper
KDP
$46.9B
| $2.47M | 0.01% |
75,377
+26
| +0% | +$757 |
2023 Q4
10 quarters
|
|
652
WD-40
WDFC
$2.69B
| $2.46M | 0.01% |
10,105
+3,217
| +47% | +$689K |
2025 Q3
3 quarters
|
|
653
GoDaddy
GDDY
$13.8B
| $2.46M | 0.01% |
+28,963
| New | +$2.44M |
2026 Q2
0 quarters
|
|
654
Mine Safety
MSA
$6.96B
| $2.45M | 0.01% |
14,047
+11,421
| +435% | +$1.91M |
2026 Q1
1 quarter
|
|
655
Trane Technologies
TT
$101B
| $2.45M | 0.01% |
+4,989
| New | +$2.33M |
2026 Q2
0 quarters
|
|
656
Merit Medical Systems
MMSI
$5.44B
| $2.45M | 0.01% |
35,333
+29,826
| +542% | +$1.97M |
2026 Q1
1 quarter
|
|
657
DaVita
DVA
$11.3B
| $2.45M | 0.01% |
10,996
-9,906
| -47% | -$1.8M |
2021 Q2
20 quarters
|
|
658
Bath & Body Works
BBWI
$4.1B
| $2.44M | 0.01% |
+105,693
| New | +$2.02M |
2026 Q2
0 quarters
|
|
659
Burlington
BURL
$16.3B
| $2.44M | 0.01% |
+7,707
| New | +$2.49M |
2026 Q2
0 quarters
|
|
660
Cleveland-Cliffs
CLF
$7.73B
| $2.42M | 0.01% |
257,190
+97,723
| +61% | +$1.07M |
2025 Q3
3 quarters
|
|
661
Super Micro Computer
SMCI
$21.2B
| $2.41M | 0.01% |
82,317
+8,429
| +11% | +$269K |
2026 Q1
1 quarter
|
|
662
Brown-Forman Class B
BF.B
$12.9B
| $2.41M | 0.01% |
90,524
+72,123
| +392% | +$1.94M |
2020 Q3
23 quarters
|
|
663
CRH
CRH
$56.4B
| $2.41M | 0.01% |
22,525
+18,889
| +519% | +$2.08M |
2023 Q4
10 quarters
|
|
664
Venture Global Inc
VG
$32B
| $2.4M | 0.01% |
+215,719
| New | +$2.73M |
2026 Q2
0 quarters
|
|
665
Omnicell
OMCL
$1.66B
| $2.4M | 0.01% |
+57,714
| New | +$2.33M |
2026 Q2
0 quarters
|
|
666
Iridium Communications
IRDM
$4.66B
| $2.39M | 0.01% |
43,538
-63,062
| -59% | -$2.7M |
2025 Q3
3 quarters
|
|
667
Zscaler
ZS
$35B
| $2.39M | 0.01% |
+16,904
| New | +$2.36M |
2026 Q2
0 quarters
|
|
668
ConocoPhillips
COP
$174B
| $2.38M | 0.01% |
+22,937
| New | +$2.72M |
2026 Q2
0 quarters
|
|
669
Brinker International
EAT
$8.22B
| $2.38M | 0.01% |
14,190
-14,776
| -51% | -$2.19M |
2025 Q1
5 quarters
|
|
670
The Gap Inc
GAP
$8.24B
| $2.34M | 0.01% |
125,456
-86,909
| -41% | -$2M |
2026 Q1
1 quarter
|
|
671
Energy Fuels
UUUU
$2.21B
| $2.33M | 0.01% |
+160,899
| New | +$2.96M |
2026 Q2
0 quarters
|
|
672
Pampa Energía
PAM
$4.23B
| $2.33M | 0.01% |
+28,410
| New | +$2.37M |
2026 Q2
0 quarters
|
|
673
PagSeguro Digital
PAGS
$3.2B
| $2.33M | 0.01% |
256,939
+160,173
| +166% | +$1.55M |
2025 Q3
3 quarters
|
|
674
Williams Companies
WMB
$86.7B
| $2.32M | 0.01% |
31,211
-32,112
| -51% | -$2.36M |
2025 Q3
3 quarters
|
|
675
Evertec
EVTC
$1.88B
| $2.32M | 0.01% |
83,418
+52,100
| +166% | +$1.38M |
2026 Q1
1 quarter
|
|
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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.