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 | |
|---|---|---|---|---|---|---|---|
751
Generac Holdings
GNRC
$11.4B
| $1.71M | 0.01% |
+5,823
| New | +$1.46M |
2026 Q2
0 quarters
|
|
752
Autoliv
ALV
$8.39B
| $1.68M | 0.01% |
+14,455
| New | +$1.72M |
2026 Q2
0 quarters
|
|
753
Granite Construction
GVA
$4.96B
| $1.68M | 0.01% |
10,599
-23,690
| -69% | -$3.22M |
2026 Q1
1 quarter
|
|
754
Polaris
PII
$2.96B
| $1.67M | 0.01% |
24,420
-77,380
| -76% | -$4.99M |
2025 Q3
3 quarters
|
|
755
Natera
NTRA
$57.6B
| $1.67M | 0.01% |
6,136
-19,101
| -76% | -$4.07M |
2026 Q1
1 quarter
|
|
756
Atkore
ATKR
$3.21B
| $1.66M | 0.01% |
+21,790
| New | +$1.64M |
2026 Q2
0 quarters
|
|
757
eBay
EBAY
$53.6B
| $1.65M | 0.01% |
14,786
+10,775
| +269% | +$1.15M |
2023 Q1
13 quarters
|
|
758
Cloudflare
NET
$106B
| $1.65M | 0.01% |
6,720
-2,038
| -23% | -$446K |
2025 Q3
3 quarters
|
|
759
The Kraft Heinz Company
KHC
$27.5B
| $1.63M | 0.01% |
68,894
+3,093
| +5% | +$71.4K |
2020 Q1
25 quarters
|
|
760
Southern Company
SO
$103B
| $1.62M | 0.01% |
16,972
+5,201
| +44% | +$490K |
2025 Q4
2 quarters
|
|
761
Jacobs Solutions
J
$16.2B
| $1.62M | 0.01% |
12,878
-85,213
| -87% | -$10.5M |
2026 Q1
1 quarter
|
|
762
PBF Energy
PBF
$9.6B
| $1.62M | 0.01% |
35,622
+26,087
| +274% | +$1.09M |
2025 Q1
5 quarters
|
|
763
Equinor
EQNR
$109B
| $1.61M | 0.01% |
51,278
+11,923
| +30% | +$445K |
2025 Q2
4 quarters
|
|
764
Federated Hermes
FHI
$4.12B
| $1.61M | 0.01% |
29,155
-115,134
| -80% | -$6.51M |
2020 Q4
22 quarters
|
|
765
Enovis
ENOV
$1.15B
| $1.6M | 0.01% |
77,088
+25,864
| +50% | +$610K |
2026 Q1
1 quarter
|
|
766
Gaming and Leisure Properties
GLPI
$11.3B
| $1.59M | 0.01% |
+35,706
| New | +$1.67M |
2026 Q2
0 quarters
|
|
767
Northrop Grumman
NOC
$72.5B
| $1.57M | 0.01% |
3,091
-8,404
| -73% | -$4.85M |
2025 Q4
2 quarters
|
|
768
Ingevity
NGVT
$2.42B
| $1.55M | 0.01% |
20,799
+3,433
| +20% | +$247K |
2025 Q3
3 quarters
|
|
769
Tyson Foods
TSN
$19B
| $1.54M | 0.01% |
26,951
+11,243
| +72% | +$704K |
2020 Q1
25 quarters
|
|
770
Urban Outfitters
URBN
$7.44B
| $1.54M | 0.01% |
21,697
-48,744
| -69% | -$3.47M |
2025 Q3
3 quarters
|
|
771
ABM Industries
ABM
$3.01B
| $1.53M | 0.01% |
34,506
+1,757
| +5% | +$72K |
2025 Q3
3 quarters
|
|
772
Herbalife
HLF
$1.45B
| $1.52M | 0.01% |
115,945
-77,298
| -40% | -$1.07M |
2026 Q1
1 quarter
|
|
773
Hershey
HSY
$33.6B
| $1.52M | 0.01% |
8,635
-5,806
| -40% | -$1.09M |
2020 Q1
25 quarters
|
|
774
Newell Brands
NWL
$2.36B
| $1.5M | 0.01% |
244,957
+134,966
| +123% | +$571K |
2025 Q3
3 quarters
|
|
775
Power Integrations
POWI
$2.54B
| $1.5M | 0.01% |
+17,857
| New | +$1.29M |
2026 Q2
0 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.