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 | |
|---|---|---|---|---|---|---|---|
951
JBS N.V.
JBS
$42.4B
| $381K | ﹤0.01% |
32,162
+5,868
| +22% | +$85.8K |
2026 Q1
1 quarter
|
|
952
Lumen Technologies, Inc. Common Stock
LUMN
$4.6B
| $376K | ﹤0.01% |
48,934
-89,000
| -65% | -$780K |
2025 Q4
2 quarters
|
|
953
Plug Power
PLUG
$1.91B
| $373K | ﹤0.01% |
+137,762
| New | +$433K |
2026 Q2
0 quarters
|
|
954
Baxter International
BAX
$12.9B
| $370K | ﹤0.01% |
17,347
+1,282
| +8% | +$23.9K |
2020 Q3
23 quarters
|
|
955
EPR Properties
EPR
$4.16B
| $363K | ﹤0.01% |
+6,264
| New | +$356K |
2026 Q2
0 quarters
|
|
956
EchoStar
ECHO
$25.1B
| $361K | ﹤0.01% |
3,554
-31,760
| -90% | -$3.88M |
2026 Q1
1 quarter
|
|
957
Cognex
CGNX
$9.28B
| $359K | ﹤0.01% |
4,963
-78,607
| -94% | -$4.77M |
2026 Q1
1 quarter
|
|
958
CBIZ
CBZ
$3.01B
| $356K | ﹤0.01% |
+11,093
| New | +$345K |
2026 Q2
0 quarters
|
|
959
Primo Brands
PRMB
$7.16B
| $346K | ﹤0.01% |
14,144
-6,594
| -32% | -$146K |
2025 Q1
5 quarters
|
|
960
Everus Construction Group
ECG
$5.55B
| $345K | ﹤0.01% |
+2,081
| New | +$305K |
2026 Q2
0 quarters
|
|
961
Peabody Energy
BTU
$2.9B
| $342K | ﹤0.01% |
14,810
-25,967
| -64% | -$690K |
2024 Q3
7 quarters
|
|
962
Sotera Health
SHC
$5.03B
| $342K | ﹤0.01% |
19,241
-676,151
| -97% | -$10.7M |
2026 Q1
1 quarter
|
|
963
PDF Solutions
PDFS
$1.74B
| $340K | ﹤0.01% |
+4,807
| New | +$238K |
2026 Q2
0 quarters
|
|
964
Corning
GLW
$114B
| $334K | ﹤0.01% |
+1,307
| New | +$238K |
2026 Q2
0 quarters
|
|
965
H&R Block
HRB
$5.8B
| $334K | ﹤0.01% |
8,759
-37,770
| -81% | -$1.32M |
2022 Q1
17 quarters
|
|
966
Lamb Weston
LW
$7.36B
| $333K | ﹤0.01% |
7,719
+64
| +0.8% | +$2.76K |
2020 Q1
25 quarters
|
|
967
Barclays
BCS
$73.9B
| $332K | ﹤0.01% |
12,378
-252,789
| -95% | -$6.1M |
2026 Q1
1 quarter
|
|
968
Veeco
VECO
$2.67B
| $317K | ﹤0.01% |
4,181
-84,286
| -95% | -$4.81M |
2025 Q4
2 quarters
|
|
969
WIX.com
WIX
$3.22B
| $311K | ﹤0.01% |
6,849
-15,951
| -70% | -$986K |
2025 Q3
3 quarters
|
|
970
CVB Financial
CVBF
$3.85B
| $308K | ﹤0.01% |
13,679
-97,177
| -88% | -$2M |
2026 Q1
1 quarter
|
|
971
Photronics
PLAB
$1.67B
| $308K | ﹤0.01% |
+9,455
| New | +$400K |
2026 Q2
0 quarters
|
|
972
Celsius Holdings
CELH
$7.52B
| $303K | ﹤0.01% |
10,346
-86,705
| -89% | -$2.73M |
2021 Q1
21 quarters
|
|
973
Aflac
AFL
$59.5B
| $290K | ﹤0.01% |
2,476
-59,149
| -96% | -$6.81M |
2025 Q4
2 quarters
|
|
974
Valvoline
VVV
$3.92B
| $276K | ﹤0.01% |
+6,974
| New | +$242K |
2026 Q2
0 quarters
|
|
|
MDV
975
DELISTED
Modiv Industrial
MDV
| $275K | ﹤0.01% |
+15,825
| New | +$272K |
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.