Ray Dalio
Bridgewater Associates
Founded Bridgewater, the world's largest hedge fund, and has since stepped back from it. Its 13F is broad, with close to a thousand positions.
13F portfolio value
Q2 2026
$24.38B
1-year growth
-1.7%
2-year growth
+27.3%
Positions
997
Top 10 share
40.0%
Quarterly turnover
24.5%
Last filed
Aug 14, 2026
Q2 2026: summary
MakklerAI- SPY rose 21.9% in shares to a 16.3% portfolio weight; IVV increased 12.1% to 9.2%.
- SPY and IVV weights climbed from 12.7% and 7.8% last quarter; the portfolio totaled $24.4B across 997 positions.
- Bridgewater cut MU by 92.1%, AMZN by 53.8% and AMD by 58.3% in shares; NVDA was reduced 17.6%.
- ETFs represented 30.6% of the portfolio and the top ten holdings 40.0%; the quarter saw 214 new positions, 210 exits and 24.5% turnover.
Portfolio value (13F)
$19.15BQ2 2024
$17.66BQ3 2024
$21.81BQ4 2024
$21.55BQ1 2025
$24.79BQ2 2025
$25.53BQ3 2025
$27.42BQ4 2025
$22.40BQ1 2026
$24.38BQ2 2026
| Quarter | Value | Positions | New | Added | Trimmed | Sold | Quarterly turnover |
|---|---|---|---|---|---|---|---|
| Q2 2026 | $24.38B | 997 | 214 | 394 | 376 | 210 | 24.5% |
| Q1 2026 | $22.40B | 993 | 215 | 287 | 484 | 262 | 23.7% |
| Q4 2025 | $27.42B | 1040 | 191 | 451 | 386 | 165 | 17.4% |
| Q3 2025 | $25.53B | 1014 | 493 | 324 | 194 | 64 | 29.8% |
| Q2 2025 | $24.79B | 585 | 86 | 206 | 285 | 165 | 25.1% |
| Q1 2025 | $21.55B | 664 | 123 | 282 | 251 | 150 | 29.3% |
| Q4 2024 | $21.81B | 691 | 86 | 256 | 341 | 168 | 23.3% |
| Q3 2024 | $17.66B | 773 | 80 | 257 | 425 | 184 | 21.1% |
| Q2 2024 | $19.15B | 877 | — | — | — | — | — |
Weight of the largest positions
The latest quarter's 10 largest positions, with their weights in earlier quarters.
| Stock | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|---|
| SPY | 2.0% | 2.7% | 22.1% | 8.7% | 6.5% | 6.7% | 11.1% | 12.7% | 16.3% |
| IVV | 6.0% | 7.3% | 5.5% | 5.7% | 5.8% | 10.6% | 10.5% | 7.8% | 9.2% |
| NVDA | 4.2% | 3.3% | 2.2% | 1.4% | 4.6% | 1.8% | 2.6% | 3.7% | 3.2% |
| AVGO | — | 0.9% | 0.7% | 0.7% | 1.3% | 1.1% | 1.5% | 2.5% | 2.0% |
| AMZN | 2.7% | 1.5% | 0.9% | 1.2% | 1.1% | 1.0% | 1.6% | 4.1% | 2.0% |
| GOOGL | 4.3% | 4.1% | 3.1% | 2.2% | 4.0% | 2.5% | 1.8% | 2.6% | 1.9% |
| LRCX | — | — | 0.8% | 0.7% | 0.6% | 1.8% | 1.9% | 1.5% | 1.7% |
| VOO | — | 0.5% | — | — | — | — | — | 0.4% | 1.3% |
| AMD | 0.9% | 1.4% | 1.0% | 1.0% | 1.0% | 1.1% | 1.3% | 1.2% | 1.3% |
| EWY | 0.6% | 0.7% | 0.7% | 0.4% | 0.5% | 0.6% | 0.7% | 1.0% | 1.1% |
| MSFT | 2.5% | 2.1% | 1.3% | 1.4% | 3.4% | 2.2% | 1.7% | 1.8% | 1.1% |
| NEM | — | — | — | — | — | — | 0.8% | 1.1% | 1.0% |
| AMAT | — | 0.7% | — | — | — | 0.4% | 0.4% | 0.9% | 0.9% |
| ORCL | — | — | — | 0.4% | — | 0.4% | 1.3% | 1.0% | 0.9% |
| Seagate Technology Hldngs Pl | — | — | — | — | — | — | 0.3% | 0.6% | 0.8% |
| JNJ | 2.4% | 1.3% | 0.4% | — | 1.4% | 1.2% | 1.0% | 0.8% | 0.7% |
| VWO | 0.9% | 0.9% | 0.4% | 0.5% | — | 0.5% | 0.5% | 0.7% | 0.7% |
| GEV | — | — | 0.4% | 0.9% | 1.7% | 1.6% | 1.6% | 1.7% | 0.6% |
| UNP | — | — | — | — | — | — | — | 0.6% | 0.6% |
| MU | — | 0.6% | — | — | — | — | 0.9% | 2.2% | 0.6% |
| MBB | 0.7% | 0.8% | 0.6% | 0.6% | 0.6% | 0.5% | 0.5% | 0.6% | 0.5% |
| MO | — | 0.4% | 0.6% | 0.9% | 0.9% | 1.0% | 0.7% | 0.5% | 0.5% |
| APH | — | — | — | — | — | 0.4% | 0.4% | 0.5% | 0.5% |
| Asml Holding N V | — | — | — | — | — | 0.3% | 0.3% | 0.5% | 0.5% |
| B | — | — | — | — | — | — | 0.4% | 0.6% | 0.5% |
| CLS | — | — | — | — | 0.4% | — | 0.4% | 0.7% | 0.5% |
| VST | — | 0.7% | 1.1% | 0.9% | 0.6% | — | — | — | 0.5% |
| SHEL | — | — | — | — | 0.4% | — | — | — | 0.5% |
| SE | — | — | — | — | 0.6% | 1.1% | 0.7% | 0.5% | 0.5% |
| LQD | 0.6% | 0.6% | 0.5% | 0.5% | 0.5% | 0.4% | 0.4% | 0.5% | 0.5% |
| NUE | — | — | — | — | — | — | — | 0.5% | 0.5% |
| PCAR | — | — | — | — | — | — | — | 0.4% | 0.5% |
| WDC | — | — | — | — | — | — | — | 0.3% | 0.5% |
| IEMG | 5.2% | 5.8% | 4.2% | 4.7% | 4.2% | — | 0.3% | 0.4% | 0.5% |
| CSX | — | — | — | — | — | — | — | 0.4% | 0.4% |
| PBR | — | — | — | — | — | — | — | — | 0.4% |
| AAPL | 0.5% | 1.4% | 0.7% | 1.0% | — | 0.3% | 0.3% | 0.6% | 0.4% |
| LLY | 0.5% | 0.4% | — | — | — | — | 0.3% | — | 0.4% |
| PCG | — | — | — | — | — | — | — | — | 0.4% |
| KLAC | 0.4% | 0.9% | 0.3% | — | — | 0.5% | 0.3% | 0.7% | 0.4% |
| FIX | — | — | — | — | — | — | — | 0.5% | 0.4% |
| NXPI | — | — | — | — | — | 0.5% | 0.3% | — | 0.4% |
| WFC | — | 0.5% | 0.6% | 1.1% | 1.1% | 0.8% | 0.4% | 0.3% | 0.4% |
| EIX | — | — | — | — | — | — | — | — | 0.4% |
| EMXC | — | — | — | — | — | — | — | 0.4% | 0.4% |
| MPC | — | — | — | — | — | — | — | — | 0.4% |
| STLD | — | — | — | — | — | — | — | 0.4% | 0.4% |
| ES | — | — | — | — | — | — | — | — | 0.4% |
| TEL | — | — | — | — | — | — | 0.4% | 0.3% | 0.4% |
| ADI | — | — | — | — | — | — | — | — | 0.3% |
| HCA | 0.5% | 0.6% | 0.6% | 0.7% | 0.6% | 0.6% | 0.6% | 0.4% | 0.3% |
| TPR | — | — | — | — | — | — | — | — | 0.3% |
| APP | — | — | 0.7% | — | — | — | — | — | 0.3% |
| VLO | — | — | — | — | — | — | — | — | 0.3% |
| C | — | 0.3% | 0.5% | 0.7% | 0.6% | 0.5% | 0.3% | 0.4% | 0.3% |
| EOG | — | — | — | — | — | — | — | — | 0.3% |
| ED | — | — | — | — | — | — | — | — | 0.3% |
| BKR | — | — | — | — | — | — | — | 0.4% | 0.3% |
| NI | — | — | — | — | — | — | — | — | 0.3% |
| FTI | — | — | — | — | — | — | — | — | 0.3% |
MakklerAI
Ask MakklerAI about Ray Dalio's portfolio
Explore this quarter's moves and where each position stands against its estimated buy price and Makkler Fair Value. Answers are based on the 13F and today's prices.