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 | |
|---|---|---|---|---|---|---|---|
851
Columbia Sportswear
COLM
$3.07B
| $937K | ﹤0.01% |
15,157
+11,324
| +295% | +$701K |
2025 Q3
3 quarters
|
|
852
GameStop
GME
$13.3B
| $931K | ﹤0.01% |
+42,157
| New | +$966K |
2026 Q2
0 quarters
|
|
853
Element Solutions
ESI
$8.71B
| $924K | ﹤0.01% |
19,357
-135,845
| -88% | -$5.64M |
2025 Q4
2 quarters
|
|
854
Enphase Energy
ENPH
$4.05B
| $920K | ﹤0.01% |
18,682
-37,376
| -67% | -$1.7M |
2025 Q3
3 quarters
|
|
855
Deere & Co
DE
$169B
| $909K | ﹤0.01% |
+1,433
| New | +$830K |
2026 Q2
0 quarters
|
|
856
Helios Technologies
HLIO
$2.23B
| $907K | ﹤0.01% |
10,166
+3,642
| +56% | +$280K |
2026 Q1
1 quarter
|
|
857
Adaptive Biotechnologies
ADPT
$3.82B
| $860K | ﹤0.01% |
40,087
-49,620
| -55% | -$760K |
2025 Q3
3 quarters
|
|
858
Herc Holdings
HRI
$4.16B
| $848K | ﹤0.01% |
5,917
-37,647
| -86% | -$4.86M |
2026 Q1
1 quarter
|
|
859
Cheesecake Factory
CAKE
$5.78B
| $834K | ﹤0.01% |
+10,487
| New | +$679K |
2026 Q2
0 quarters
|
|
860
Landstar System
LSTR
$5.71B
| $829K | ﹤0.01% |
+4,010
| New | +$767K |
2026 Q2
0 quarters
|
|
861
Hilton Grand Vacations
HGV
$2.74B
| $819K | ﹤0.01% |
+15,644
| New | +$755K |
2026 Q2
0 quarters
|
|
862
Chemours
CC
$1.9B
| $812K | ﹤0.01% |
39,556
-109,701
| -73% | -$2.51M |
2025 Q3
3 quarters
|
|
863
Nova
NVMI
$10.1B
| $808K | ﹤0.01% |
+1,488
| New | +$765K |
2026 Q2
0 quarters
|
|
864
Moderna
MRNA
$90.6B
| $807K | ﹤0.01% |
11,527
-63,295
| -85% | -$3.27M |
2025 Q3
3 quarters
|
|
865
Excelerate Energy
EE
$1.02B
| $801K | ﹤0.01% |
21,088
-17,587
| -45% | -$606K |
2026 Q1
1 quarter
|
|
866
Silgan Holdings
SLGN
$4.23B
| $800K | ﹤0.01% |
+17,253
| New | +$690K |
2026 Q2
0 quarters
|
|
867
Commault Systems
CVLT
$6.33B
| $798K | ﹤0.01% |
+5,628
| New | +$605K |
2026 Q2
0 quarters
|
|
868
Pentair
PNR
$8.42B
| $797K | ﹤0.01% |
10,400
-34,082
| -77% | -$2.7M |
2025 Q4
2 quarters
|
|
869
MarketAxess Holdings
MKTX
$5.79B
| $797K | ﹤0.01% |
7,024
+1,416
| +25% | +$202K |
2025 Q4
2 quarters
|
|
870
Quest Diagnostics
DGX
$25.9B
| $796K | ﹤0.01% |
3,756
+285
| +8% | +$55.9K |
2020 Q1
25 quarters
|
|
871
Labcorp
LH
$25.9B
| $783K | ﹤0.01% |
2,798
-8,386
| -75% | -$2.2M |
2020 Q1
25 quarters
|
|
872
Medline Inc
MDLN
$30.9B
| $783K | ﹤0.01% |
+19,847
| New | +$800K |
2026 Q2
0 quarters
|
|
873
Nutrien
NTR
$33.1B
| $781K | ﹤0.01% |
+12,403
| New | +$867K |
2026 Q2
0 quarters
|
|
874
Camtek
CAMT
$6.02B
| $772K | ﹤0.01% |
+4,734
| New | +$839K |
2026 Q2
0 quarters
|
|
875
Otter Tail
OTTR
$3.73B
| $769K | ﹤0.01% |
8,549
-6,652
| -44% | -$588K |
2026 Q1
1 quarter
|
|
Similar funds
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.