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 | |
|---|---|---|---|---|---|---|---|
801
Acadia Pharmaceuticals
ACAD
$3.41B
| $1.27M | 0.01% |
50,265
-91,547
| -65% | -$2.01M |
2025 Q3
3 quarters
|
|
802
LCI Industries
LCII
$1.99B
| $1.27M | 0.01% |
11,967
+4,547
| +61% | +$500K |
2025 Q4
2 quarters
|
|
803
Churchill Downs
CHDN
$5.71B
| $1.27M | 0.01% |
14,133
+9,988
| +241% | +$895K |
2026 Q1
1 quarter
|
|
804
Millicom
TIGO
$13.3B
| $1.27M | 0.01% |
13,950
-3,979
| -22% | -$335K |
2026 Q1
1 quarter
|
|
805
InterDigital
IDCC
$8.32B
| $1.23M | 0.01% |
+4,343
| New | +$1.29M |
2026 Q2
0 quarters
|
|
806
Planet Fitness
PLNT
$3.98B
| $1.23M | 0.01% |
+23,521
| New | +$1.38M |
2026 Q2
0 quarters
|
|
807
Mueller Water Products
MWA
$3.4B
| $1.22M | 0.01% |
47,301
-2,743
| -5% | -$73.4K |
2025 Q1
5 quarters
|
|
808
Iris Energy
IREN
$10.9B
| $1.22M | 0.01% |
26,595
-694,330
| -96% | -$36.1M |
2025 Q3
3 quarters
|
|
809
Teledyne Technologies
TDY
$28.7B
| $1.2M | ﹤0.01% |
+1,806
| New | +$1.14M |
2026 Q2
0 quarters
|
|
810
Freshpet
FRPT
$3.18B
| $1.19M | ﹤0.01% |
+20,198
| New | +$1.16M |
2026 Q2
0 quarters
|
|
811
International Paper
IP
$17.9B
| $1.19M | ﹤0.01% |
+31,310
| New | +$1.07M |
2026 Q2
0 quarters
|
|
812
Immunocore
IMCR
$1.54B
| $1.17M | ﹤0.01% |
36,707
+17,777
| +94% | +$526K |
2025 Q4
2 quarters
|
|
813
Hawaiian Electric Industries
HE
$1.46B
| $1.16M | ﹤0.01% |
85,706
+59,145
| +223% | +$843K |
2026 Q1
1 quarter
|
|
814
Brown & Brown
BRO
$23.2B
| $1.16M | ﹤0.01% |
+18,017
| New | +$1.1M |
2026 Q2
0 quarters
|
|
815
Aaon
AAON
$6.21B
| $1.15M | ﹤0.01% |
+9,086
| New | +$1.06M |
2026 Q2
0 quarters
|
|
816
CorVel
CRVL
$4.03B
| $1.15M | ﹤0.01% |
+18,422
| New | +$1.07M |
2026 Q2
0 quarters
|
|
817
Rocket Lab Corp
RKLB
$32.8B
| $1.15M | ﹤0.01% |
11,267
-5,460
| -33% | -$544K |
2025 Q3
3 quarters
|
|
818
Protagonist Therapeutics
PTGX
$8.7B
| $1.14M | ﹤0.01% |
9,269
+3,993
| +76% | +$417K |
2026 Q1
1 quarter
|
|
819
Snap-on
SNA
$18.9B
| $1.14M | ﹤0.01% |
2,823
-13,842
| -83% | -$5.23M |
2023 Q1
13 quarters
|
|
820
SBA Communications
SBAC
$19.4B
| $1.13M | ﹤0.01% |
6,385
-8,267
| -56% | -$1.7M |
2026 Q1
1 quarter
|
|
821
Spectrum Brands
SPB
$1.77B
| $1.11M | ﹤0.01% |
12,973
+3,233
| +33% | +$262K |
2026 Q1
1 quarter
|
|
822
Gerdau
GGB
$10.1B
| $1.1M | ﹤0.01% |
271,680
+223,506
| +464% | +$993K |
2026 Q1
1 quarter
|
|
823
Envista
NVST
$3.63B
| $1.1M | ﹤0.01% |
41,647
-34,790
| -46% | -$878K |
2025 Q3
3 quarters
|
|
824
Magnolia Oil & Gas
MGY
$6.86B
| $1.1M | ﹤0.01% |
+42,881
| New | +$1.22M |
2026 Q2
0 quarters
|
|
825
Jones Lang LaSalle
JLL
$13.9B
| $1.09M | ﹤0.01% |
3,518
-5,626
| -62% | -$1.75M |
2025 Q3
3 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.