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 | |
|---|---|---|---|---|---|---|---|
176
Hexcel
HXL
$6.84B
| $23.6M | 0.1% |
236,251
+214,258
| +974% | +$19.4M |
2026 Q1
1 quarter
|
|
177
TG Therapeutics
TGTX
$8.17B
| $23.6M | 0.1% |
429,904
+118,489
| +38% | +$4.85M |
2025 Q3
3 quarters
|
|
178
Valaris
VAL
$6.25B
| $23.4M | 0.1% |
321,713
+285,816
| +796% | +$26.6M |
2025 Q3
3 quarters
|
|
179
Five Below
FIVE
$12.2B
| $23.3M | 0.1% |
129,642
+67,747
| +109% | +$14.6M |
2025 Q3
3 quarters
|
|
180
Liberty Energy
LBRT
$2.76B
| $23.1M | 0.1% |
883,746
+669,525
| +313% | +$20M |
2023 Q4
10 quarters
|
|
181
Chubb
CB
$138B
| $22.8M | 0.09% |
67,050
+22,267
| +50% | +$7.26M |
2025 Q1
5 quarters
|
|
182
ATI
ATI
$25.6B
| $22.7M | 0.09% |
114,940
+92,990
| +424% | +$15.8M |
2026 Q1
1 quarter
|
|
183
Comcast
CMCSA
$76.8B
| $22.6M | 0.09% |
920,357
-272,263
| -23% | -$7.03M |
2021 Q1
21 quarters
|
|
184
American International
AIG
$42.4B
| $22M | 0.09% |
295,074
+118,809
| +67% | +$9.03M |
2025 Q1
5 quarters
|
|
185
Woodward
WWD
$19.3B
| $21.9M | 0.09% |
51,359
-11,764
| -19% | -$4.46M |
2025 Q1
5 quarters
|
|
186
American Electric Power
AEP
$68.8B
| $21.8M | 0.09% |
159,591
+107,722
| +208% | +$14.2M |
2026 Q1
1 quarter
|
|
187
Smurfit Westrock
SW
$21.5B
| $21.8M | 0.09% |
+471,953
| New | +$19.5M |
2026 Q2
0 quarters
|
|
188
GXO Logistics
GXO
$5.44B
| $21.8M | 0.09% |
430,309
+365,160
| +560% | +$18.9M |
2025 Q4
2 quarters
|
|
189
Exelixis
EXEL
$15.5B
| $21.8M | 0.09% |
400,859
-80,137
| -17% | -$3.9M |
2025 Q1
5 quarters
|
|
190
Century Aluminum
CENX
$3.44B
| $21.8M | 0.09% |
473,928
-258,589
| -35% | -$15.6M |
2025 Q4
2 quarters
|
|
191
Arch Capital
ACGL
$34.5B
| $21.7M | 0.09% |
223,860
-22,343
| -9% | -$2.11M |
2023 Q4
10 quarters
|
|
192
Kennametal
KMT
$2.35B
| $21.4M | 0.09% |
611,543
-27,652
| -4% | -$1.01M |
2026 Q1
1 quarter
|
|
193
Phillips 66
PSX
$119B
| $21.2M | 0.09% |
125,491
-27,763
| -18% | -$4.78M |
2025 Q3
3 quarters
|
|
194
Hasbro
HAS
$14B
| $20.8M | 0.09% |
+251,786
| New | +$22.7M |
2026 Q2
0 quarters
|
|
195
FedEx
FDX
$69.5B
| $20.8M | 0.09% |
66,349
+64,948
| +4,636% | +$23.6M |
2026 Q1
1 quarter
|
|
196
Etsy
ETSY
$7.87B
| $20.6M | 0.08% |
273,253
+204,590
| +298% | +$13.2M |
2023 Q1
13 quarters
|
|
197
Corteva
CTVA
$8.61B
| $20.6M | 0.08% |
+243,050
| New | +$19.5M |
2026 Q2
0 quarters
|
|
198
Eastern Bankshares
EBC
$4.86B
| $20.6M | 0.08% |
924,805
-16,540
| -2% | -$336K |
2025 Q3
3 quarters
|
|
199
Ross Stores
ROST
$75.7B
| $20.6M | 0.08% |
96,587
+34,296
| +55% | +$7.72M |
2026 Q1
1 quarter
|
|
200
XP
XP
$15.4B
| $20.4M | 0.08% |
+1,255,551
| New | +$22.4M |
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.