Smart Money
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

Recent moves vs Dec 2025

$TSMNew buy1.6%
$GOOGNew buy0.5%
$NUENew buy0.5%
$PCARNew buy0.4%
$EMXCNew buy0.4%
$SNPSNew buy0.4%
$AMZNAdded4.1%
$NVDAAdded3.7%
$GOOGLAdded2.6%
$AVGOAdded2.5%
$MUAdded2.2%
$MSFTAdded1.8%
$MRVLAdded0.9%
$AMATAdded0.9%
$METAAdded0.7%
$KLACAdded0.7%
$CLSAdded0.7%
$AAPLAdded0.6%
$UNPAdded0.6%
$STXAdded0.6%
$BAdded0.6%
$ASMLAdded0.5%
$FIXAdded0.5%
$APHAdded0.5%
$TERAdded0.4%
$CSXAdded0.4%
$CRDOAdded0.4%
$VOOAdded0.4%
$IEMGAdded0.4%
$CAdded0.4%
$ARMAdded0.4%
$NRGAdded0.4%
$BKRAdded0.4%
$IVVTrimmed7.8%
$GEVTrimmed1.7%
$LRCXTrimmed1.5%
$AMDTrimmed1.2%
$ORCLTrimmed1%
$EWYTrimmed1%
$JNJTrimmed0.8%
$MOTrimmed0.5%
$SETrimmed0.5%

Holdings

StockMove% of portfolioValue
$SPY

STATE STR SPDR S&P 500 ETF T

Held
12.7%
$2.8B
$IVV

ISHARES TR

Trimmed
7.8%
$1.8B
$AMZN

AMAZON COM INC

Added
4.1%
$914M
$NVDA

NVIDIA CORPORATION

Added
3.7%
$818M
$GOOGL

ALPHABET INC

Added
2.6%
$574M
$AVGO

BROADCOM INC

Added
2.5%
$568M
$MU

MICRON TECHNOLOGY INC

Added
2.2%
$499M
$MSFT

MICROSOFT CORP

Added
1.8%
$402M
$GEV

GE VERNOVA INC

Trimmed
1.7%
$380M
$TSM

TAIWAN SEMICONDUCTOR MANUFAC

New buy
1.6%
$364M
$LRCX

LAM RESEARCH CORP

Trimmed
1.5%
$336M
$AMD

ADVANCED MICRO DEVICES INC

Trimmed
1.2%
$263M
$NEM

NEWMONT CORP

Held
1.1%
$251M
$ORCL

ORACLE CORP

Trimmed
1%
$234M
$EWY

ISHARES INC

Trimmed
1%
$217M
$MRVL

MARVELL TECHNOLOGY INC

Added
0.9%
$193M
$AMAT

APPLIED MATLS INC

Added
0.9%
$191M
$JNJ

JOHNSON & JOHNSON

Trimmed
0.8%
$170M
$META

META PLATFORMS INC

Added
0.7%
$167M
$ANET

ARISTA NETWORKS INC

Held
0.7%
$163M
$KLAC

KLA CORP

Added
0.7%
$160M
$CLS

CELESTICA INC

Added
0.7%
$148M
$VWO

VANGUARD INTL EQUITY INDEX F

Held
0.7%
$147M
$AAPL

APPLE INC

Added
0.6%
$143M
$UNP

UNION PAC CORP

Added
0.6%
$129M
$MBB

ISHARES TR

Held
0.6%
$129M
$STX

SEAGATE TECHNOLOGY HLDNGS PL

Added
0.6%
$129M
$B

BARRICK MNG CORP

Added
0.6%
$126M
$ASML

ASML HLDG NV

Added
0.5%
$122M
$FIX

COMFORT SYS USA INC

Added
0.5%
$119M
$MO

ALTRIA GROUP INC

Trimmed
0.5%
$113M
$LQD

ISHARES TR

Held
0.5%
$111M
$GOOG

ALPHABET INC

New buy
0.5%
$111M
$SE

SEA LTD

Trimmed
0.5%
$111M
$APH

AMPHENOL CORP

Added
0.5%
$109M
$VRT

VERTIV HOLDINGS CO

Held
0.5%
$108M
$NUE

NUCOR CORP

New buy
0.5%
$105M
$TER

TERADYNE INC

Added
0.4%
$100M
$CSX

CSX CORP

Added
0.4%
$98M
$CRDO

CREDO TECHNOLOGY GROUP HOLDI

Added
0.4%
$97M
$VOO

VANGUARD INDEX FDS

Added
0.4%
$95M
$IEMG

ISHARES INC

Added
0.4%
$94M
$C

CITIGROUP INC

Added
0.4%
$90M
$ARM

ARM HOLDINGS PLC

Added
0.4%
$90M
$PCAR

PACCAR INC

New buy
0.4%
$90M
$NRG

NRG ENERGY INC

Added
0.4%
$86M
$TLN

TALEN ENERGY CORP

Held
0.4%
$85M
$BKR

BAKER HUGHES COMPANY

Added
0.4%
$84M
$EMXC

ISHARES INC

New buy
0.4%
$84M
$SNPS

SYNOPSYS INC

New buy
0.4%
$83M

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

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