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 | |
|---|---|---|---|---|---|---|---|
776
McCormick & Company Non-Voting
MKC
$12.8B
| $1.49M | 0.01% |
29,597
+6,460
| +28% | +$317K |
2024 Q3
7 quarters
|
|
777
Progyny
PGNY
$2.21B
| $1.49M | 0.01% |
+51,738
| New | +$1.16M |
2026 Q2
0 quarters
|
|
778
Aegon
AEG
$12.3B
| $1.49M | 0.01% |
176,399
+113,412
| +180% | +$935K |
2026 Q1
1 quarter
|
|
779
Macy's
M
$6.08B
| $1.48M | 0.01% |
63,008
-188,920
| -75% | -$3.96M |
2025 Q3
3 quarters
|
|
780
Thor Industries
THO
$3.45B
| $1.47M | 0.01% |
+19,565
| New | +$1.51M |
2026 Q2
0 quarters
|
|
781
Lionsgate Studios
LION
$3.57B
| $1.45M | 0.01% |
+94,638
| New | +$1.22M |
2026 Q2
0 quarters
|
|
782
Lincoln Electric
LECO
$14.1B
| $1.44M | 0.01% |
5,406
-3,920
| -42% | -$1.03M |
2025 Q3
3 quarters
|
|
783
PPG Industries
PPG
$24.1B
| $1.43M | 0.01% |
+11,804
| New | +$1.31M |
2026 Q2
0 quarters
|
|
784
Becton Dickinson
BDX
$52.7B
| $1.42M | 0.01% |
9,382
-114
| -1% | -$17K |
2020 Q3
23 quarters
|
|
785
Core & Main
CNM
$7.62B
| $1.42M | 0.01% |
+29,371
| New | +$1.45M |
2026 Q2
0 quarters
|
|
786
Nexstar Media Group
NXST
$5.2B
| $1.41M | 0.01% |
+7,909
| New | +$1.48M |
2026 Q2
0 quarters
|
|
787
Interparfums
IPAR
$3.73B
| $1.41M | 0.01% |
12,578
-5,359
| -30% | -$506K |
2025 Q3
3 quarters
|
|
788
Stride
LRN
$3.34B
| $1.4M | 0.01% |
16,246
-14,024
| -46% | -$1.29M |
2021 Q2
20 quarters
|
|
789
Darden Restaurants
DRI
$24.4B
| $1.39M | 0.01% |
6,765
-725
| -10% | -$145K |
2020 Q3
23 quarters
|
|
790
FirstCash
FCFS
$9.3B
| $1.39M | 0.01% |
6,442
-6,676
| -51% | -$1.45M |
2025 Q2
4 quarters
|
|
791
Lennar Class A
LEN
$18.6B
| $1.38M | 0.01% |
+15,239
| New | +$1.36M |
2026 Q2
0 quarters
|
|
792
Travel + Leisure Co
TNL
$4.08B
| $1.36M | 0.01% |
17,782
-103,303
| -85% | -$7.26M |
2023 Q1
13 quarters
|
|
793
WESCO International
WCC
$16.7B
| $1.35M | 0.01% |
3,921
+2,887
| +279% | +$980K |
2026 Q1
1 quarter
|
|
794
Donaldson
DCI
$10.1B
| $1.35M | 0.01% |
+15,085
| New | +$1.3M |
2026 Q2
0 quarters
|
|
795
Church & Dwight Co
CHD
$25B
| $1.34M | 0.01% |
13,879
-4,590
| -25% | -$439K |
2020 Q1
25 quarters
|
|
796
McGrath RentCorp
MGRC
$2.75B
| $1.33M | 0.01% |
10,986
-13,931
| -56% | -$1.58M |
2025 Q3
3 quarters
|
|
797
Graphic Packaging
GPK
$2.5B
| $1.31M | 0.01% |
124,143
-102,200
| -45% | -$1.04M |
2025 Q4
2 quarters
|
|
798
Callaway Golf Company
CALY
$2.51B
| $1.31M | 0.01% |
69,496
+26,533
| +62% | +$416K |
2026 Q1
1 quarter
|
|
799
Elastic
ESTC
$10.1B
| $1.29M | 0.01% |
22,574
+14,008
| +164% | +$751K |
2025 Q2
4 quarters
|
|
800
Waste Connections
WCN
$42.3B
| $1.27M | 0.01% |
7,634
| – | – |
2024 Q3
7 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.