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 | |
|---|---|---|---|---|---|---|---|
701
Wingstop
WING
$3.54B
| $2.09M | 0.01% |
12,075
+3,681
| +44% | +$580K |
2023 Q1
13 quarters
|
|
702
Delta Air Lines
DAL
$50.4B
| $2.09M | 0.01% |
22,355
+251
| +1% | +$18.9K |
2025 Q3
3 quarters
|
|
703
Omnicom Group
OMC
$22.1B
| $2.09M | 0.01% |
28,730
+23,385
| +438% | +$1.76M |
2021 Q3
19 quarters
|
|
704
Skywest
SKYW
$3.57B
| $2.09M | 0.01% |
20,992
-12,796
| -38% | -$1.14M |
2024 Q2
8 quarters
|
|
705
Q2 Holdings
QTWO
$4.05B
| $2.07M | 0.01% |
42,998
+23,583
| +121% | +$1.12M |
2025 Q3
3 quarters
|
|
706
Tower Semiconductor
TSEM
$21.8B
| $2.07M | 0.01% |
7,933
-454,792
| -98% | -$109M |
2026 Q1
1 quarter
|
|
707
Steris
STE
$21.9B
| $2.07M | 0.01% |
9,809
-1,326
| -12% | -$284K |
2020 Q3
23 quarters
|
|
708
Triple Flag Precious Metals
TFPM
$6.35B
| $2.06M | 0.01% |
68,784
+49,554
| +258% | +$1.59M |
2026 Q1
1 quarter
|
|
709
Kratos Defense & Security Solutions
KTOS
$7.41B
| $2.05M | 0.01% |
41,061
-33,806
| -45% | -$2.04M |
2025 Q3
3 quarters
|
|
710
Elanco Animal Health
ELAN
$11.2B
| $2.04M | 0.01% |
82,941
-3,249
| -4% | -$75.1K |
2025 Q4
2 quarters
|
|
711
RPM International
RPM
$12.6B
| $2.03M | 0.01% |
18,272
-37,317
| -67% | -$3.89M |
2025 Q3
3 quarters
|
|
712
Acushnet Holdings
GOLF
$4.68B
| $2M | 0.01% |
+16,879
| New | +$1.61M |
2026 Q2
0 quarters
|
|
713
SpaceX
SPCX
$1.93T
| $1.98M | 0.01% |
+11,597
| New | +$1.97M |
2026 Q2
0 quarters
|
|
714
The Ensign Group
ENSG
$10.2B
| $1.97M | 0.01% |
12,308
+5,972
| +94% | +$1.05M |
2021 Q2
20 quarters
|
|
715
Oshkosh
OSK
$8.01B
| $1.95M | 0.01% |
12,715
-6,887
| -35% | -$970K |
2025 Q1
5 quarters
|
|
716
Vistance Networks Inc
VISN
$1.35B
| $1.95M | 0.01% |
152,567
-72,146
| -32% | -$1.02M |
2025 Q3
3 quarters
|
|
717
Denison Mines
DNN
$2.05B
| $1.95M | 0.01% |
636,288
+53,681
| +9% | +$187K |
2024 Q2
8 quarters
|
|
718
LPL Financial
LPLA
$25.3B
| $1.94M | 0.01% |
+6,900
| New | +$2.07M |
2026 Q2
0 quarters
|
|
719
O'Reilly Automotive
ORLY
$72.5B
| $1.94M | 0.01% |
21,026
-47,327
| -69% | -$4.32M |
2025 Q3
3 quarters
|
|
720
Allegiant Air
ALGT
$1.86B
| $1.93M | 0.01% |
+16,416
| New | +$1.42M |
2026 Q2
0 quarters
|
|
721
Twist Bioscience
TWST
$9.3B
| $1.92M | 0.01% |
+18,647
| New | +$1.21M |
2026 Q2
0 quarters
|
|
722
Sprouts Farmers Market
SFM
$6.07B
| $1.91M | 0.01% |
22,600
-142,371
| -86% | -$11.5M |
2021 Q2
20 quarters
|
|
723
Molina Healthcare
MOH
$11.3B
| $1.9M | 0.01% |
8,326
+6,239
| +299% | +$1.13M |
2022 Q4
14 quarters
|
|
724
RH
RH
$2.26B
| $1.9M | 0.01% |
+11,525
| New | +$1.59M |
2026 Q2
0 quarters
|
|
725
Bio-Techne
TECH
$11.4B
| $1.89M | 0.01% |
26,750
+20,773
| +348% | +$1.12M |
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.