All superinvestors
RD

Ray Dalio

Bridgewater Associates·macro·Quant & multi-strat
Closed

~11.5–12% since 1991

Portfolio value

$22.4B

Positions

984

Top 5 concentration

31%

New buys this quarter

6

Quarterly activity

What Ray Dalio bought and sold each quarter.

Mar 2026vs Dec 2025

Bought (25)

$TSMADRNew buy1.6%$NUENew buy0.5%$GOOGNew buy0.5%$PCARNew buy0.4%$STLDNew buy0.4%$SNPSNew buy0.4%$EMXCNew buy0.4%$TSEMNew buy0.4%$INSMNew buy0.2%$EMRNew buy0.1%$KMTNew buy0.1%$LPXNew buy0.1%$RALNew buy0.1%$ROSTNew buy0.1%$TRINew buy0.1%$WALNew buy0.1%$AAOINew buy0.1%$ASXADRNew buy0.1%$CSTMNew buy0.1%$CRWVNew buy0.1%$HUTNew buy0.1%$JNew buy0.1%$PBRADRNew buy0.1%$BAMNew buy0%$CECENew buy0%

Sold (25)

$CRMSold out$NOWSold out$WDAYSold out$ADBETrimmed-99.9%$BKNGTrimmed-99.9%$EXPETrimmed-99.8%$PYPLTrimmed-99.7%$OMCTrimmed-99.3%$GNTXTrimmed-99.1%$MATrimmed-99%$PATHTrimmed-98.3%$TDOCTrimmed-98.1%$CALMTrimmed-97.9%$FRSHTrimmed-97.8%$HUBSTrimmed-97.7%$APTVTrimmed-97.7%$WBDTrimmed-97.3%$UBERTrimmed-97.3%$TXTTrimmed-97.2%$VRSNTrimmed-97.1%$ESTCTrimmed-96.9%$LDOSTrimmed-96.7%$EBAYTrimmed-96.4%$TEAMTrimmed-95.9%$FICOTrimmed-95.8%
Dec 2025vs Sep 2025

Bought (25)

$CATNew buy0.1%$FHNNew buy0.1%$FNew buy0.1%$IGVNew buy0.1%$ARMADRNew buy0.1%$CEGNew buy0.1%$DELLNew buy0.1%$OKENew buy0%$ELANNew buy0%$RKTNew buy0%$DEINew buy0%$RRRNew buy0%$MANNew buy0%$GRMNNew buy0%$HLINew buy0%$JCINew buy0%$TTEKNew buy0%$NOCNew buy0%$FMCNew buy0%$TYLNew buy0%$VRRMNew buy0%$LUVNew buy0%$ACANew buy0%$BRCNew buy0%$AZTANew buy0%

Sold (25)

$FISold out$FOURTrimmed-98.2%$FFIVTrimmed-98.1%$EQTTrimmed-97.7%$HWCTrimmed-97.4%$LWTrimmed-95.9%$URBNTrimmed-95.3%$BXTrimmed-95.3%$HIMSTrimmed-94.9%$ABBVTrimmed-94.5%$EXLSTrimmed-93.6%$MRNATrimmed-93.2%$ADITrimmed-92.6%$ROKTrimmed-90.2%$SMTrimmed-90.1%$EBAYTrimmed-89.4%$FCNTrimmed-88.8%$SPGTrimmed-88.2%$SEETrimmed-88%$AMETrimmed-87.3%$CNCTrimmed-86%$LULUTrimmed-85.3%$TRUPTrimmed-85.2%$MARTrimmed-85.1%$EYETrimmed-84.4%
Sep 2025vs Jun 2025

Bought (25)

$RDDTNew buy0.6%$HOODNew buy0.5%$APHNew buy0.4%$AMATNew buy0.4%$SCHWNew buy0.2%$UNPNew buy0.2%$ADSKNew buy0.2%$CHKPNew buy0.2%$CRDONew buy0.2%$IBKRNew buy0.2%$MNDYNew buy0.2%$CORTNew buy0.1%$ECLNew buy0.1%$FNBNew buy0.1%$ITNew buy0.1%$LMTNew buy0.1%$CARTNew buy0.1%$RSGNew buy0.1%$SLBNew buy0.1%$TERNew buy0.1%$TEVAADRNew buy0.1%$ALNYNew buy0.1%$APTVNew buy0.1%$BACNew buy0.1%$CADENew buy0.1%

Sold (25)

$GLDSold out$SPOTSold out$DHITrimmed-99.5%$RIOADRTrimmed-99.3%$TTrimmed-99.2%$ULTATrimmed-99.2%$XOMTrimmed-97.7%$BTUTrimmed-97.1%$MWATrimmed-95.3%$PANWTrimmed-94.2%$ERJADRTrimmed-93.9%$IEMGTrimmed-93.2%$XYZTrimmed-92.8%$TROXTrimmed-92.2%$UTHRTrimmed-91.8%$KRTrimmed-91.7%$HMYADRTrimmed-90.9%$FAFTrimmed-90.5%$PAYCTrimmed-89.8%$SMCITrimmed-89.3%$SLMTrimmed-88.3%$FOXATrimmed-88%$AMGTrimmed-87%$GILTrimmed-86.8%$SLABTrimmed-85.4%
Jun 2025vs Mar 2025

Bought (25)

$ARMADRNew buy0.3%$INTUNew buy0.2%$EQTNew buy0.2%$LYFTNew buy0.2%$KEYNew buy0.1%$CFNew buy0.1%$JBLNew buy0.1%$OKTANew buy0.1%$ARNew buy0.1%$BNew buy0.1%$KEYSNew buy0.1%$MPCNew buy0.1%$VRTXNew buy0.1%$ULTANew buy0.1%$SARONew buy0.1%$EQNRADRNew buy0.1%$TEMNew buy0%$FLGNew buy0%$NNNNew buy0%$CHWYNew buy0%$CIENNew buy0%$BCONew buy0%$CLHNew buy0%$CUBENew buy0%$CFRNew buy0%

Sold (25)

$BABAADRSold out$PDDADRSold out$JDADRSold out$BIDUADRSold out$BLDRTrimmed-99.1%$ANTrimmed-98.6%$TRITrimmed-98.3%$SNATrimmed-96.7%$RYTrimmed-95.8%$CMTrimmed-95.7%$RMDTrimmed-95.6%$VNOMTrimmed-95.2%$BMOTrimmed-95%$CBTrimmed-94.6%$STLDTrimmed-94.4%$WABTrimmed-93.9%$EMNTrimmed-92.5%$PCHTrimmed-91.9%$SJMTrimmed-91.6%$NFLXTrimmed-91.4%$KBHTrimmed-90.9%$VRTTrimmed-90.6%$SNXTrimmed-90.4%$FIXTrimmed-90.4%$NVRTrimmed-90.4%
Mar 2025vs Dec 2024

Bought (25)

$GLDNew buy1.5%$XYZNew buy0.5%$JDADRNew buy0.5%$UALNew buy0.5%$CBNew buy0.4%$DALNew buy0.3%$ALKNew buy0.2%$BLDRNew buy0.2%$GSNew buy0.2%$JPMNew buy0.1%$AANew buy0.1%$DKNGNew buy0.1%$NFLXNew buy0.1%$SPOTNew buy0.1%$VRSKNew buy0.1%$RYAAYADRNew buy0.1%$RJFNew buy0.1%$WSCNew buy0.1%$CACINew buy0.1%$FANGNew buy0.1%$FRSHNew buy0.1%$ALLENew buy0.1%$NUENew buy0.1%$CRSNew buy0.1%$LUVNew buy0.1%

Sold (25)

$APPTrimmed-98.7%$IMOTrimmed-97.7%$FSLRTrimmed-97%$LLYTrimmed-96.7%$LIITrimmed-96.5%$SNOWTrimmed-96.2%$RNRTrimmed-96%$ZBHTrimmed-95.7%$IQADRTrimmed-95.5%$ABNBTrimmed-95.5%$WSMTrimmed-95.4%$BBWITrimmed-95.1%$RLTrimmed-94.6%$COKETrimmed-93.4%$EWWETFTrimmed-93.2%$CORTrimmed-93.1%$DDTrimmed-92.9%$HPQTrimmed-92.9%$AZOTrimmed-92.5%$TMUSTrimmed-91.8%$STZTrimmed-91.5%$VALTrimmed-91.3%$GHCTrimmed-90.8%$DLRTrimmed-90.5%$SMTrimmed-88.2%
Dec 2024vs Sep 2024

Bought (25)

$NOWNew buy0.3%$TSLANew buy0.3%$DARNew buy0.1%$FENew buy0.1%$SNPSNew buy0.1%$BNNew buy0.1%$CNXNew buy0.1%$ETNNew buy0.1%$MRNANew buy0.1%$NTNXNew buy0.1%$ORCLNew buy0.1%$PPLNew buy0.1%$ONCADRNew buy0%$LCIDNew buy0%$CCLUnitNew buy0%$CCCSNew buy0%$ITWNew buy0%$BXNew buy0%$ULADRNew buy0%$DDNew buy0%$FHNNew buy0%$CTASNew buy0%$CFGNew buy0%$CLHNew buy0%$DOVNew buy0%

Sold (25)

$VOOETFSold out$MUSold out$CVXTrimmed-99%$ULTATrimmed-98.3%$PLTRTrimmed-97.6%$FICOTrimmed-97.4%$AMATTrimmed-97.2%$DHITrimmed-97%$FTrimmed-96.5%$HIMSTrimmed-96.2%$NXPITrimmed-96%$EWZETFTrimmed-95.6%$MUSATrimmed-94.9%$AYITrimmed-93.3%$AXPTrimmed-93.3%$CNQTrimmed-93.2%$NEUTrimmed-92.3%$LEATrimmed-92%$IPGTrimmed-91.4%$OGNTrimmed-91.1%$SWTrimmed-91%$EVTCTrimmed-90.5%$FNFTrimmed-90.3%$ZTOADRTrimmed-90.2%$FFIVTrimmed-90%
Sep 2024vs Jun 2024

Bought (25)

$MUNew buy0.6%$BABAADRNew buy0.3%$EWWETFNew buy0.3%$CVENew buy0.2%$BTIADRNew buy0.2%$ASMLNew buy0.1%$WHDNew buy0.1%$FNew buy0.1%$TRINew buy0.1%$AESNew buy0.1%$BACNew buy0.1%$PWRNew buy0.1%$BIDUADRNew buy0.1%$DVNNew buy0.1%$FERGNew buy0%$APTVNew buy0%$OLEDNew buy0%$SGMSNew buy0%$MGANew buy0%$OTEXNew buy0%$MWANew buy0%$WCNNew buy0%$PIPRNew buy0%$BFAMNew buy0%$BENew buy0%

Sold (25)

$BLDRTrimmed-97.9%$PRTrimmed-97.3%$DOCUTrimmed-97%$DOCSTrimmed-97%$VALTrimmed-96.6%$MGYTrimmed-96.2%$MPCTrimmed-95.7%$UNPTrimmed-95.7%$SHWTrimmed-95.4%$WABTrimmed-94.9%$AVTTrimmed-94.9%$SSNCTrimmed-94.7%$DUOLTrimmed-94.4%$CCKTrimmed-94.4%$BECNTrimmed-93.8%$ZDTrimmed-93.5%$ACNTrimmed-92%$VRTXTrimmed-89.6%$REGNTrimmed-89.6%$WEXTrimmed-89.4%$SNOWTrimmed-89.3%$UFPITrimmed-88.6%$SLGNTrimmed-88.2%$OPCHTrimmed-87.7%$WFRDTrimmed-87.5%
Jun 2024vs Mar 2024

Bought (25)

$CEGNew buy0.2%$DNNNew buy0.1%$ALLNew buy0.1%$UECNew buy0.1%$GEVNew buy0.1%$CVXNew buy0.1%$HONNew buy0.1%$SUNew buy0.1%$TMONew buy0.1%$TSCONew buy0.1%$VOOETFNew buy0.1%$WYNNNew buy0.1%$AMPNew buy0.1%$CHTRNew buy0.1%$DBXNew buy0.1%$FISNew buy0.1%$GRMNNew buy0.1%$MFCNew buy0.1%$RNRNew buy0.1%$SBSWADRNew buy0.1%$SMCINew buy0.1%$URNMNew buy0.1%$VRSNNew buy0.1%$SKXNew buy0%$ODFLNew buy0%

Sold (25)

$PGRTrimmed-98.6%$ATKRTrimmed-97%$CNXTrimmed-96.3%$ECLTrimmed-96.1%$HUMTrimmed-96.1%$BWATrimmed-95.4%$TMHCTrimmed-95.4%$IPGTrimmed-95.3%$OLNTrimmed-94.8%$BCTrimmed-94.5%$EXCTrimmed-94%$RTrimmed-92.5%$EQTTrimmed-92.2%$RIGTrimmed-92.2%$NTAPTrimmed-91.2%$REGNTrimmed-91.2%$ESITrimmed-89.5%$WMGTrimmed-88.4%$JCITrimmed-87.1%$CFTrimmed-86.3%$SHOOTrimmed-85.8%$BGCTrimmed-85.8%$SWKSTrimmed-85.3%$HAINTrimmed-84.4%$PAGTrimmed-82.1%

Quarter-over-quarter change in disclosed positions. Diversified book — only the larger sell-outs are shown.

Holdings

StockMove% of portfolioSince report
$SPYUnit

STATE STR SPDR S&P 500 ETF T

Held
12.7%
+15.6%
$IVVETF

ISHARES TR

Trimmed
7.8%
+15.6%

AMAZON COM INC

Added
4.1%
+18.6%

NVIDIA CORPORATION

Added
3.7%
+16.3%

ALPHABET INC

Added
2.6%
+24.8%

BROADCOM INC

Added
2.5%
+29.6%

MICRON TECHNOLOGY INC

Added
2.2%
+193.5%

MICROSOFT CORP

Added
1.8%
+3.8%

GE VERNOVA INC

Trimmed
1.7%
+23.2%
$TSMADR

TAIWAN SEMICONDUCTOR MANUFAC

New buy
1.6%
+29.3%

LAM RESEARCH CORP

Trimmed
1.5%
+65.3%

ADVANCED MICRO DEVICES INC

Trimmed
1.2%
+168.8%

NEWMONT CORP

Held
1.1%
-12.4%

ORACLE CORP

Trimmed
1%
-1.9%
$EWYETF

ISHARES INC

Trimmed
1%
+50.2%

MARVELL TECHNOLOGY INC

Added
0.9%
+145.6%

APPLIED MATLS INC

Added
0.9%
+72.2%

JOHNSON & JOHNSON

Trimmed
0.8%
+6%

META PLATFORMS INC

Added
0.7%
+10.4%

ARISTA NETWORKS INC

Held
0.7%
+50.4%

KLA CORP

Added
0.7%
-84.4%

CELESTICA INC

Added
0.7%
+26%
$VWOETF

VANGUARD INTL EQUITY INDEX F

Held
0.7%
+10.1%

APPLE INC

Added
0.6%
+24.6%

UNION PAC CORP

Added
0.6%
+17.5%
$MBBETF

ISHARES TR

Held
0.6%
-1.2%

SEAGATE TECHNOLOGY HLDNGS PL

Added
0.6%
+127.2%

BARRICK MNG CORP

Added
0.6%
-9.7%

ASML HLDG NV

Added
0.5%
+36.6%

COMFORT SYS USA INC

Added
0.5%
+29.2%

ALTRIA GROUP INC

Trimmed
0.5%
+8.5%
$LQDETF

ISHARES TR

Held
0.5%
-1.2%

ALPHABET INC

New buy
0.5%
+24.2%
$SEADR

SEA LTD

Trimmed
0.5%
+31.8%

AMPHENOL CORP

Added
0.5%
+28.4%

VERTIV HOLDINGS CO

Held
0.5%
+29.3%

NUCOR CORP

New buy
0.5%
+31.4%

TERADYNE INC

Added
0.4%
+22.4%

CSX CORP

Added
0.4%
+20.2%

CREDO TECHNOLOGY GROUP HOLDI

Added
0.4%
+183%
$VOOETF

VANGUARD INDEX FDS

Added
0.4%
+15.6%

ISHARES INC

Added
0.4%
+16.2%

CITIGROUP INC

Added
0.4%
+23.1%
$ARMADR

ARM HOLDINGS PLC

Added
0.4%
+116.7%

PACCAR INC

New buy
0.4%
+6.7%

NRG ENERGY INC

Added
0.4%
-3.9%

TALEN ENERGY CORP

Held
0.4%
+20.4%

BAKER HUGHES COMPANY

Added
0.4%
-6.3%

ISHARES INC

New buy
0.4%
+24.6%

SYNOPSYS INC

New buy
0.4%
+11.8%

Showing top 50 of 984 equity positions (this fund runs a diversified book).

Notable sell-outs this quarter: $CRM, $NOW, $WDAY

Source: SEC 13F via FMP · Mar 2026 report · 45-day filing delay. Long equity positions only. Not financial advice.