Ray Dalio

Founder of Bridgewater Associates; author^[1]

77 years old

Ray Dalio is an American investor and author who founded Bridgewater Associates in 1975. He studied finance at C.W. Post, later part of Long Island University, and earned an MBA at Harvard Business School. He built Bridgewater from a small advisory business into a global institutional investment manager. Its major strategies included Pure Alpha and All Weather. Dalio’s investment work emphasizes economic cycles, diversification and systematic decision-making. He also wrote Principles: Life & Work and books about debt cycles and changes in world power. Bridgewater documents his staged withdrawal from its CEO, CIO and chairman roles. His later work centers on writing, mentoring and philanthropy; he is not presented here as the current manager of Autopilot’s Dalio Tracker.

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Born: August 8, 1949

Life phases1

One octagon for each phase of the life of Ray Dalio. Each of the eight axes is scored 0 to 5 against a written rubric from documented evidence, with its source; an axis without evidence is a gap, not a zero. There is no total and no ideal shape: it is a profile, not a ranking. Appearance and personality are not axes, because they cannot be scored from evidence.

OverviewCareer overview reviewed October 25, 2026. Historical roles and dated income/poll readings are identified per axis; this is not a statement that former roles continue today.

No total and no ideal shape: a longer spoke means more of that axis, so a long Misconduct spoke is more documented misconduct.

Scores, rubric and sources

01Education4 of 5: High confidenceHighest completed qualification: MBA, Harvard Business School, 1973. Professional/master’s degrees score 4; research doctorates 5; bachelor’s degrees 3.^[3]Highest attainment by then: 1 secondary school, 2 some college, 3 bachelor's degree, 4 master's or professional degree, 5 doctorate.
02Wealth4 of 5: Medium confidenceDocumented income of $2B in 2018 is in the top 1% of US returns by adjusted gross income (IRS, tax year 2022, as tabulated by the Tax Foundation). Income, not net worth.^[2]Net worth or income against the national thresholds of the time: 1 below the median household, 3 top 5%, 5 top 0.1%.
03Position5 of 5: High confidenceHistorical career scope: founded Bridgewater in 1975 and led its development into a global institution as CEO, CIO and chairman. This meets the top-institutional-role anchor (5). He stepped down as CEO in 2017, CIO in summer 2020 and chairman at the end of 2021; this score does not assert current executive authority.^[3]Scope of the role held: 1 entry level, 3 senior manager or legislator, 5 head of state or government, or the top role of a major institution.
04Public standingNo evidence: Public approval or favourability where it was measured: 1 under 20%, 3 35 to 50%, 5 over 65%.
05HealthNo evidence: Documented health where an examination or disclosure exists: 5 no documented concern, 1 a serious documented condition.
06MisconductNo evidence: The documented legal and ethics record within the phase, as in the misconduct meter: 0 none documented, 1 only matters resolved in their favour, 2 an open matter, 3 one finding, 4 two or three, 5 four or more. More is more documented misconduct.
07Social goodNo evidence: Assessed effects of what they did in the phase on health, safety, education, rights and the environment, from official statistics or peer-reviewed evidence: 0 clearly harmful, 2.5 mixed, 5 clearly beneficial.
08Economic goodNo evidence: Assessed effects of what they did in the phase on efficiency, growth and fiscal sustainability, from CBO and peer-reviewed evidence, as in the good-for-society reading: 0 clearly harmful, 2.5 mixed, 5 clearly beneficial.

Earnings by year1

What each year added up to: salary, plus outside income, royalties, endorsements, prizes and investment income where a source reports them. A financial disclosure gives ranges, shown as such.

2018

Health, weight and religion appear only where the person, their physician or a reputable outlet has published them; each links to its source.

Ray Dalio

Founder of Bridgewater Associates; author^[1]

77 years old

Life phases1

Bridgewater Associates — SEC 13F · as of Jun 30, 2026
Security	Allocation	Shares	Cost basis	Market value	Unrealized P&L
CUSIP 78462F103STATE STR SPDR S&P 500 ETF T — TR UNIT	16.3%	5,320,308	Not disclosed	$3,973,046,405.00Jun 30, 2026	Not disclosed
CUSIP 464287200ISHARES TR — CORE S&P500 ETF	9.22%	3,002,286	Not disclosed	$2,248,381,963.00Jun 30, 2026	Not disclosed
CUSIP 67066G104NVIDIA CORPORATION — COM	3.17%	3,866,195	Not disclosed	$773,586,958.00Jun 30, 2026	Not disclosed
CUSIP 11135F101BROADCOM INC — COM	2.04%	1,317,923	Not disclosed	$497,845,413.00Jun 30, 2026	Not disclosed
CUSIP 023135106AMAZON COM INC — COM	1.98%	2,025,481	Not disclosed	$482,753,142.00Jun 30, 2026	Not disclosed
CUSIP 02079K305ALPHABET INC — CAP STK CL A	1.94%	1,322,176	Not disclosed	$472,506,037.00Jun 30, 2026	Not disclosed
CUSIP 512807306LAM RESEARCH CORP — COM NEW	1.67%	938,224	Not disclosed	$406,560,606.00Jun 30, 2026	Not disclosed
CUSIP 922908363VANGUARD INDEX FDS — S&P 500 ETF SHS	1.29%	458,381	Not disclosed	$314,820,655.00Jun 30, 2026	Not disclosed
CUSIP 007903107ADVANCED MICRO DEVICES INC — COM	1.28%	538,632	Not disclosed	$312,896,715.00Jun 30, 2026	Not disclosed
CUSIP 464286772ISHARES INC — MSCI STH KOR ETF	1.15%	1,384,772	Not disclosed	$279,585,467.00Jun 30, 2026	Not disclosed
CUSIP 594918104MICROSOFT CORP — COM	1.09%	711,896	Not disclosed	$265,551,446.00Jun 30, 2026	Not disclosed
CUSIP 651639106NEWMONT CORP — COM	1.03%	2,695,170	Not disclosed	$251,728,878.00Jun 30, 2026	Not disclosed
CUSIP 038222105APPLIED MATLS INC — COM	0.86%	291,426	Not disclosed	$210,700,998.00Jun 30, 2026	Not disclosed
CUSIP 68389X105ORACLE CORP — COM	0.86%	1,432,967	Not disclosed	$210,001,314.00Jun 30, 2026	Not disclosed
CUSIP G7997R103SEAGATE TECHNOLOGY HLDNGS PL — ORD SHS	0.79%	199,822	Not disclosed	$192,828,230.00Jun 30, 2026	Not disclosed
CUSIP 478160104JOHNSON & JOHNSON — COM	0.7%	669,135	Not disclosed	$169,940,216.00Jun 30, 2026	Not disclosed
CUSIP 922042858VANGUARD INTL EQUITY INDEX F — FTSE EMR MKT ETF	0.67%	2,746,819	Not disclosed	$163,957,626.00Jun 30, 2026	Not disclosed
CUSIP 36828A101GE VERNOVA INC — COM	0.59%	122,768	Not disclosed	$144,235,212.00Jun 30, 2026	Not disclosed
CUSIP 907818108UNION PAC CORP — COM	0.57%	514,266	Not disclosed	$139,880,352.00Jun 30, 2026	Not disclosed
CUSIP 595112103MICRON TECHNOLOGY INC — COM	0.55%	116,666	Not disclosed	$134,666,397.00Jun 30, 2026	Not disclosed
CUSIP 464288588ISHARES TR — MBS ETF	0.54%	1,386,800	Not disclosed	$131,080,336.00Jun 30, 2026	Not disclosed
CUSIP 02209S103ALTRIA GROUP INC — COM	0.51%	1,727,216	Not disclosed	$124,273,191.00Jun 30, 2026	Not disclosed
CUSIP 032095101AMPHENOL CORP — CL A	0.5%	697,612	Not disclosed	$123,002,948.00Jun 30, 2026	Not disclosed
CUSIP N07059210ASML HLDG NV — N Y REGISTRY SHS	0.5%	61,675	Not disclosed	$122,698,712.00Jun 30, 2026	Not disclosed
CUSIP 06849F108BARRICK MNG CORP — COM SHS	0.5%	3,304,836	Not disclosed	$121,387,233.00Jun 30, 2026	Not disclosed
CUSIP 15101Q207CELESTICA INC — COM	0.49%	330,689	Not disclosed	$120,635,278.00Jun 30, 2026	Not disclosed
CUSIP 92840M102VISTRA CORP — COM	0.49%	751,695	Not disclosed	$119,241,378.00Jun 30, 2026	Not disclosed
CUSIP 780259305SHELL PLC — SPON ADS	0.49%	1,526,163	Not disclosed	$118,338,679.00Jun 30, 2026	Not disclosed
CUSIP 81141R100SEA LTD — SPONSORD ADS	0.47%	1,204,563	Not disclosed	$115,433,272.00Jun 30, 2026	Not disclosed
CUSIP 464287242ISHARES TR — IBOXX INV CP ETF	0.47%	1,050,500	Not disclosed	$114,578,035.00Jun 30, 2026	Not disclosed
CUSIP 670346105NUCOR CORP — COM	0.47%	513,423	Not disclosed	$114,364,973.00Jun 30, 2026	Not disclosed
CUSIP 693718108PACCAR INC — COM	0.47%	946,107	Not disclosed	$113,646,373.00Jun 30, 2026	Not disclosed
CUSIP 958102105WESTERN DIGITAL CORP — COM	0.45%	172,415	Not disclosed	$110,124,909.00Jun 30, 2026	Not disclosed
CUSIP 46434G103ISHARES INC — CORE MSCI EMKT	0.45%	1,328,276	Not disclosed	$110,034,384.00Jun 30, 2026	Not disclosed
CUSIP 126408103CSX CORP — COM	0.43%	2,229,965	Not disclosed	$105,990,236.00Jun 30, 2026	Not disclosed
CUSIP 71654V408PETROLEO BRASILEIRO S A — SPONSORED ADR	0.43%	6,524,553	Not disclosed	$105,436,776.00Jun 30, 2026	Not disclosed
CUSIP 037833100APPLE INC — COM	0.43%	364,377	Not disclosed	$105,436,129.00Jun 30, 2026	Not disclosed
CUSIP 532457108ELI LILLY & CO — COM	0.43%	87,023	Not disclosed	$104,377,997.00Jun 30, 2026	Not disclosed
CUSIP 69331C108PG&E CORP — COM	0.41%	5,931,314	Not disclosed	$99,764,701.00Jun 30, 2026	Not disclosed
CUSIP 482480100KLA CORP — COM NEW	0.41%	328,070	Not disclosed	$98,982,000.00Jun 30, 2026	Not disclosed
CUSIP 199908104COMFORT SYS USA INC — COM	0.39%	48,506	Not disclosed	$96,136,467.00Jun 30, 2026	Not disclosed
CUSIP N6596X109NXP SEMICONDUCTORS N V — COM	0.39%	337,405	Not disclosed	$94,820,927.00Jun 30, 2026	Not disclosed
CUSIP 949746101WELLS FARGO & CO — COM	0.39%	1,145,854	Not disclosed	$94,693,375.00Jun 30, 2026	Not disclosed
CUSIP 281020107EDISON INTL — COM	0.38%	1,234,614	Not disclosed	$91,917,012.00Jun 30, 2026	Not disclosed
CUSIP 46434G764ISHARES INC — MSCI EMRG CHN	0.37%	880,516	Not disclosed	$90,076,787.00Jun 30, 2026	Not disclosed
CUSIP 56585A102MARATHON PETE CORP — COM	0.37%	349,224	Not disclosed	$89,286,100.00Jun 30, 2026	Not disclosed
CUSIP 858119100STEEL DYNAMICS INC — COM	0.36%	378,490	Not disclosed	$86,848,315.00Jun 30, 2026	Not disclosed
CUSIP 30040W108EVERSOURCE ENERGY — COM	0.35%	1,195,140	Not disclosed	$86,372,768.00Jun 30, 2026	Not disclosed
CUSIP G87052109TE CONNECTIVITY PLC — ORD SHS	0.35%	426,718	Not disclosed	$86,030,616.00Jun 30, 2026	Not disclosed
CUSIP 032654105ANALOG DEVICES INC — COM	0.33%	203,208	Not disclosed	$80,708,121.00Jun 30, 2026	Not disclosed
CUSIP 40412C101HCA HEALTHCARE INC — COM	0.33%	203,204	Not disclosed	$79,227,208.00Jun 30, 2026	Not disclosed
CUSIP 876030107TAPESTRY INC — COM	0.32%	539,444	Not disclosed	$78,963,813.00Jun 30, 2026	Not disclosed
CUSIP 03831W108APPLOVIN CORP — COM CL A	0.31%	146,602	Not disclosed	$75,533,748.00Jun 30, 2026	Not disclosed
CUSIP 91913Y100VALERO ENERGY CORP — COM	0.3%	285,001	Not disclosed	$74,225,660.00Jun 30, 2026	Not disclosed
CUSIP 172967424CITIGROUP INC — COM NEW	0.3%	522,666	Not disclosed	$73,152,333.00Jun 30, 2026	Not disclosed
CUSIP 26875P101EOG RES INC — COM	0.29%	539,429	Not disclosed	$69,980,124.00Jun 30, 2026	Not disclosed
CUSIP 209115104CONSOLIDATED EDISON INC — COM	0.28%	623,641	Not disclosed	$68,993,404.00Jun 30, 2026	Not disclosed
CUSIP 05722G100BAKER HUGHES COMPANY — CL A	0.28%	1,220,482	Not disclosed	$67,736,751.00Jun 30, 2026	Not disclosed
CUSIP 65473P105NISOURCE INC — COM	0.28%	1,410,001	Not disclosed	$67,045,548.00Jun 30, 2026	Not disclosed
CUSIP G87110105TECHNIPFMC PLC — COM	0.27%	989,841	Not disclosed	$65,626,458.00Jun 30, 2026	Not disclosed
CUSIP 81762P102SERVICENOW INC — COM	0.26%	635,381	Not disclosed	$63,080,626.00Jun 30, 2026	Not disclosed
CUSIP 806857108SLB LIMITED — COM STK	0.26%	1,338,849	Not disclosed	$62,243,090.00Jun 30, 2026	Not disclosed
CUSIP 30303M102META PLATFORMS INC — CL A	0.25%	110,083	Not disclosed	$62,008,653.00Jun 30, 2026	Not disclosed
CUSIP 91307C102UNITED THERAPEUTICS CORP DEL — COM	0.25%	111,326	Not disclosed	$60,319,767.00Jun 30, 2026	Not disclosed
CUSIP 174610105CITIZENS FINL GROUP INC — COM	0.24%	847,858	Not disclosed	$59,409,410.00Jun 30, 2026	Not disclosed
CUSIP 61174X109MONSTER BEVERAGE CORP NEW — COM	0.24%	605,394	Not disclosed	$58,190,471.00Jun 30, 2026	Not disclosed
CUSIP 060505104BANK OF AMER CORP — COM	0.24%	1,020,674	Not disclosed	$58,158,005.00Jun 30, 2026	Not disclosed
CUSIP 26441C204DUKE ENERGY CORP NEW — COM NEW	0.23%	442,098	Not disclosed	$55,960,765.00Jun 30, 2026	Not disclosed
CUSIP 69047Q102OVINTIV INC — COM	0.22%	1,041,316	Not disclosed	$54,825,287.00Jun 30, 2026	Not disclosed
CUSIP 406216101HALLIBURTON CO — COM	0.22%	1,590,285	Not disclosed	$53,990,176.00Jun 30, 2026	Not disclosed
CUSIP 573874104MARVELL TECHNOLOGY INC — COM	0.22%	181,176	Not disclosed	$53,970,519.00Jun 30, 2026	Not disclosed
CUSIP G0378L100ANGLOGOLD ASHANTI PLC — COM SHS	0.22%	665,558	Not disclosed	$53,836,987.00Jun 30, 2026	Not disclosed
CUSIP 89832Q109TRUIST FINL CORP — COM	0.22%	1,078,721	Not disclosed	$53,741,880.00Jun 30, 2026	Not disclosed
CUSIP 69351T106PPL CORP — COM	0.22%	1,468,865	Not disclosed	$53,393,243.00Jun 30, 2026	Not disclosed
CUSIP 58155Q103MCKESSON CORP — COM	0.22%	70,358	Not disclosed	$53,162,505.00Jun 30, 2026	Not disclosed
CUSIP 03674X106ANTERO RESOURCES CORP — COM	0.22%	1,507,657	Not disclosed	$52,979,067.00Jun 30, 2026	Not disclosed
CUSIP 844741108SOUTHWEST AIRLS CO — COM	0.22%	1,022,946	Not disclosed	$52,599,883.00Jun 30, 2026	Not disclosed
CUSIP 59156R108METLIFE INC — COM	0.22%	621,519	Not disclosed	$52,586,723.00Jun 30, 2026	Not disclosed
CUSIP 67059N108NUTANIX INC — CL A	0.21%	998,761	Not disclosed	$50,896,861.00Jun 30, 2026	Not disclosed
CUSIP 171779309CIENA CORP — COM NEW	0.2%	101,038	Not disclosed	$49,565,201.00Jun 30, 2026	Not disclosed
CUSIP G25457105CREDO TECHNOLOGY GROUP HOLDI — ORDINARY SHARES	0.2%	178,996	Not disclosed	$48,677,962.00Jun 30, 2026	Not disclosed
CUSIP 457669307INSMED INC — COM PAR $.01	0.2%	455,392	Not disclosed	$48,553,895.00Jun 30, 2026	Not disclosed
CUSIP 82575P107SIBANYE STILLWATER LTD — SPONSORED ADR	0.2%	5,691,634	Not disclosed	$48,321,973.00Jun 30, 2026	Not disclosed
CUSIP 880770102TERADYNE INC — COM	0.2%	98,627	Not disclosed	$47,719,688.00Jun 30, 2026	Not disclosed
CUSIP 03743Q108APA CORPORATION — COM	0.19%	1,444,176	Not disclosed	$47,036,812.00Jun 30, 2026	Not disclosed
CUSIP 87422Q109TALEN ENERGY CORP — COM	0.19%	121,506	Not disclosed	$46,689,896.00Jun 30, 2026	Not disclosed
CUSIP 733174700POPULAR INC — COM NEW	0.19%	278,207	Not disclosed	$45,676,025.00Jun 30, 2026	Not disclosed
CUSIP 126650100CVS HEALTH CORP — COM	0.19%	440,972	Not disclosed	$45,618,553.00Jun 30, 2026	Not disclosed
CUSIP 881624209TEVA PHARMACEUTICAL INDS LTD — SPONSORED ADS	0.18%	1,326,678	Not disclosed	$44,947,851.00Jun 30, 2026	Not disclosed
CUSIP 75734B100REDDIT INC — CL A	0.18%	257,428	Not disclosed	$44,684,352.00Jun 30, 2026	Not disclosed
CUSIP 887389104TIMKEN CO — COM	0.18%	302,724	Not disclosed	$43,991,852.00Jun 30, 2026	Not disclosed
CUSIP 040413205ARISTA NETWORKS INC — COM SHS	0.18%	254,275	Not disclosed	$43,196,237.00Jun 30, 2026	Not disclosed
CUSIP 320517105FIRST HORIZON CORPORATION — COM	0.17%	1,633,439	Not disclosed	$41,881,376.00Jun 30, 2026	Not disclosed
CUSIP 92343V104VERIZON COMMUNICATIONS INC — COM	0.17%	980,458	Not disclosed	$41,512,592.00Jun 30, 2026	Not disclosed
CUSIP 099724106BORGWARNER INC — COM	0.17%	623,455	Not disclosed	$41,397,412.00Jun 30, 2026	Not disclosed
CUSIP G6700G107NVENT ELEC PLC — SHS	0.17%	242,970	Not disclosed	$41,210,142.00Jun 30, 2026	Not disclosed
CUSIP 989701107ZIONS BANCORPORATION NATL AS — COM	0.17%	591,357	Not disclosed	$40,915,991.00Jun 30, 2026	Not disclosed
CUSIP 165167735EXPAND ENERGY CORPORATION — COM	0.17%	447,886	Not disclosed	$40,842,724.00Jun 30, 2026	Not disclosed
CUSIP 629377508NRG ENERGY INC — COM NEW	0.17%	277,935	Not disclosed	$40,595,186.00Jun 30, 2026	Not disclosed
CUSIP 989207105ZEBRA TECHNOLOGIES CORPORATI — CL A	0.16%	151,328	Not disclosed	$39,838,609.00Jun 30, 2026	Not disclosed

Security

Allocation

Cost basis

Market value

Unrealized P&L

CUSIP 78462F103STATE STR SPDR S&P 500 ETF T — TR UNIT

16.3%

5,320,308

Not disclosed

$3,973,046,405.00Jun 30, 2026

Not disclosed

CUSIP 464287200ISHARES TR — CORE S&P500 ETF

9.22%

3,002,286

Not disclosed

$2,248,381,963.00Jun 30, 2026

Not disclosed

CUSIP 67066G104NVIDIA CORPORATION — COM

3.17%

3,866,195

Not disclosed

$773,586,958.00Jun 30, 2026

Not disclosed

CUSIP 11135F101BROADCOM INC — COM

2.04%

1,317,923

Not disclosed

$497,845,413.00Jun 30, 2026

Not disclosed

CUSIP 023135106AMAZON COM INC — COM

1.98%

2,025,481

Not disclosed

$482,753,142.00Jun 30, 2026

Not disclosed

CUSIP 02079K305ALPHABET INC — CAP STK CL A

1.94%

1,322,176

Not disclosed

$472,506,037.00Jun 30, 2026

Not disclosed

CUSIP 512807306LAM RESEARCH CORP — COM NEW

1.67%

938,224

Not disclosed

$406,560,606.00Jun 30, 2026

Not disclosed

CUSIP 922908363VANGUARD INDEX FDS — S&P 500 ETF SHS

1.29%

458,381

Not disclosed

$314,820,655.00Jun 30, 2026

Not disclosed

CUSIP 007903107ADVANCED MICRO DEVICES INC — COM

1.28%

538,632

Not disclosed

$312,896,715.00Jun 30, 2026

Not disclosed

CUSIP 464286772ISHARES INC — MSCI STH KOR ETF

1.15%

1,384,772

Not disclosed

$279,585,467.00Jun 30, 2026

Not disclosed

CUSIP 594918104MICROSOFT CORP — COM

1.09%

711,896

Not disclosed

$265,551,446.00Jun 30, 2026

Not disclosed

CUSIP 651639106NEWMONT CORP — COM

1.03%

2,695,170

Not disclosed

$251,728,878.00Jun 30, 2026

Not disclosed

CUSIP 038222105APPLIED MATLS INC — COM

0.86%

291,426

Not disclosed

$210,700,998.00Jun 30, 2026

Not disclosed

CUSIP 68389X105ORACLE CORP — COM

0.86%

1,432,967

Not disclosed

$210,001,314.00Jun 30, 2026

Not disclosed

CUSIP G7997R103SEAGATE TECHNOLOGY HLDNGS PL — ORD SHS

0.79%

199,822

Not disclosed

$192,828,230.00Jun 30, 2026

Not disclosed

CUSIP 478160104JOHNSON & JOHNSON — COM

0.7%

669,135

Not disclosed

$169,940,216.00Jun 30, 2026

Not disclosed

CUSIP 922042858VANGUARD INTL EQUITY INDEX F — FTSE EMR MKT ETF

0.67%

2,746,819

Not disclosed

$163,957,626.00Jun 30, 2026

Not disclosed

CUSIP 36828A101GE VERNOVA INC — COM

0.59%

122,768

Not disclosed

$144,235,212.00Jun 30, 2026

Not disclosed

CUSIP 907818108UNION PAC CORP — COM

0.57%

514,266

Not disclosed

$139,880,352.00Jun 30, 2026

Not disclosed

CUSIP 595112103MICRON TECHNOLOGY INC — COM

0.55%

116,666

Not disclosed

$134,666,397.00Jun 30, 2026

Not disclosed

CUSIP 464288588ISHARES TR — MBS ETF

0.54%

1,386,800

Not disclosed

$131,080,336.00Jun 30, 2026

Not disclosed

CUSIP 02209S103ALTRIA GROUP INC — COM

0.51%

1,727,216

Not disclosed

$124,273,191.00Jun 30, 2026

Not disclosed

CUSIP 032095101AMPHENOL CORP — CL A

0.5%

697,612

Not disclosed

$123,002,948.00Jun 30, 2026

Not disclosed

CUSIP N07059210ASML HLDG NV — N Y REGISTRY SHS

0.5%

61,675

Not disclosed

$122,698,712.00Jun 30, 2026

Not disclosed

CUSIP 06849F108BARRICK MNG CORP — COM SHS

0.5%

3,304,836

Not disclosed

$121,387,233.00Jun 30, 2026

Not disclosed

CUSIP 15101Q207CELESTICA INC — COM

0.49%

330,689

Not disclosed

$120,635,278.00Jun 30, 2026

Not disclosed

CUSIP 92840M102VISTRA CORP — COM

0.49%

751,695

Not disclosed

$119,241,378.00Jun 30, 2026

Not disclosed

CUSIP 780259305SHELL PLC — SPON ADS

0.49%

1,526,163

Not disclosed

$118,338,679.00Jun 30, 2026

Not disclosed

CUSIP 81141R100SEA LTD — SPONSORD ADS

0.47%

1,204,563

Not disclosed

$115,433,272.00Jun 30, 2026

Not disclosed

CUSIP 464287242ISHARES TR — IBOXX INV CP ETF

0.47%

1,050,500

Not disclosed

$114,578,035.00Jun 30, 2026

Not disclosed

CUSIP 670346105NUCOR CORP — COM

0.47%

513,423

Not disclosed

$114,364,973.00Jun 30, 2026

Not disclosed

CUSIP 693718108PACCAR INC — COM

0.47%

946,107

Not disclosed

$113,646,373.00Jun 30, 2026

Not disclosed

CUSIP 958102105WESTERN DIGITAL CORP — COM

0.45%

172,415

Not disclosed

$110,124,909.00Jun 30, 2026

Not disclosed

CUSIP 46434G103ISHARES INC — CORE MSCI EMKT

0.45%

1,328,276

Not disclosed

$110,034,384.00Jun 30, 2026

Not disclosed

CUSIP 126408103CSX CORP — COM

0.43%

2,229,965

Not disclosed

$105,990,236.00Jun 30, 2026

Not disclosed

CUSIP 71654V408PETROLEO BRASILEIRO S A — SPONSORED ADR

0.43%

6,524,553

Not disclosed

$105,436,776.00Jun 30, 2026

Not disclosed

CUSIP 037833100APPLE INC — COM

0.43%

364,377

Not disclosed

$105,436,129.00Jun 30, 2026

Not disclosed

CUSIP 532457108ELI LILLY & CO — COM

0.43%

87,023

Not disclosed

$104,377,997.00Jun 30, 2026

Not disclosed

CUSIP 69331C108PG&E CORP — COM

0.41%

5,931,314

Not disclosed

$99,764,701.00Jun 30, 2026

Not disclosed

CUSIP 482480100KLA CORP — COM NEW

0.41%

328,070

Not disclosed

$98,982,000.00Jun 30, 2026

Not disclosed

CUSIP 199908104COMFORT SYS USA INC — COM

0.39%

48,506

Not disclosed

$96,136,467.00Jun 30, 2026

Not disclosed

CUSIP N6596X109NXP SEMICONDUCTORS N V — COM

0.39%

337,405

Not disclosed

$94,820,927.00Jun 30, 2026

Not disclosed

CUSIP 949746101WELLS FARGO & CO — COM

0.39%

1,145,854

Not disclosed

$94,693,375.00Jun 30, 2026

Not disclosed

CUSIP 281020107EDISON INTL — COM

0.38%

1,234,614

Not disclosed

$91,917,012.00Jun 30, 2026

Not disclosed

CUSIP 46434G764ISHARES INC — MSCI EMRG CHN

0.37%

880,516

Not disclosed

$90,076,787.00Jun 30, 2026

Not disclosed

CUSIP 56585A102MARATHON PETE CORP — COM

0.37%

349,224

Not disclosed

$89,286,100.00Jun 30, 2026

Not disclosed

CUSIP 858119100STEEL DYNAMICS INC — COM

0.36%

378,490

Not disclosed

$86,848,315.00Jun 30, 2026

Not disclosed

CUSIP 30040W108EVERSOURCE ENERGY — COM

0.35%

1,195,140

Not disclosed

$86,372,768.00Jun 30, 2026

Not disclosed

CUSIP G87052109TE CONNECTIVITY PLC — ORD SHS

0.35%

426,718

Not disclosed

$86,030,616.00Jun 30, 2026

Not disclosed

CUSIP 032654105ANALOG DEVICES INC — COM

0.33%

203,208

Not disclosed

$80,708,121.00Jun 30, 2026

Not disclosed

CUSIP 40412C101HCA HEALTHCARE INC — COM

0.33%

203,204

Not disclosed

$79,227,208.00Jun 30, 2026

Not disclosed

CUSIP 876030107TAPESTRY INC — COM

0.32%

539,444

Not disclosed

$78,963,813.00Jun 30, 2026

Not disclosed

CUSIP 03831W108APPLOVIN CORP — COM CL A

0.31%

146,602

Not disclosed

$75,533,748.00Jun 30, 2026

Not disclosed

CUSIP 91913Y100VALERO ENERGY CORP — COM

0.3%

285,001

Not disclosed

$74,225,660.00Jun 30, 2026

Not disclosed

CUSIP 172967424CITIGROUP INC — COM NEW

0.3%

522,666

Not disclosed

$73,152,333.00Jun 30, 2026

Not disclosed

CUSIP 26875P101EOG RES INC — COM

0.29%

539,429

Not disclosed

$69,980,124.00Jun 30, 2026

Not disclosed

CUSIP 209115104CONSOLIDATED EDISON INC — COM

0.28%

623,641

Not disclosed

$68,993,404.00Jun 30, 2026

Not disclosed

CUSIP 05722G100BAKER HUGHES COMPANY — CL A

0.28%

1,220,482

Not disclosed

$67,736,751.00Jun 30, 2026

Not disclosed

CUSIP 65473P105NISOURCE INC — COM

0.28%

1,410,001

Not disclosed

$67,045,548.00Jun 30, 2026

Not disclosed

CUSIP G87110105TECHNIPFMC PLC — COM

0.27%

989,841

Not disclosed

$65,626,458.00Jun 30, 2026

Not disclosed

CUSIP 81762P102SERVICENOW INC — COM

0.26%

635,381

Not disclosed

$63,080,626.00Jun 30, 2026

Not disclosed

CUSIP 806857108SLB LIMITED — COM STK

0.26%

1,338,849

Not disclosed

$62,243,090.00Jun 30, 2026

Not disclosed

CUSIP 30303M102META PLATFORMS INC — CL A

0.25%

110,083

Not disclosed

$62,008,653.00Jun 30, 2026

Not disclosed

CUSIP 91307C102UNITED THERAPEUTICS CORP DEL — COM

0.25%

111,326

Not disclosed

$60,319,767.00Jun 30, 2026

Not disclosed

CUSIP 174610105CITIZENS FINL GROUP INC — COM

0.24%

847,858

Not disclosed

$59,409,410.00Jun 30, 2026

Not disclosed

CUSIP 61174X109MONSTER BEVERAGE CORP NEW — COM

0.24%

605,394

Not disclosed

$58,190,471.00Jun 30, 2026

Not disclosed

CUSIP 060505104BANK OF AMER CORP — COM

0.24%

1,020,674

Not disclosed

$58,158,005.00Jun 30, 2026

Not disclosed

CUSIP 26441C204DUKE ENERGY CORP NEW — COM NEW

0.23%

442,098

Not disclosed

$55,960,765.00Jun 30, 2026

Not disclosed

CUSIP 69047Q102OVINTIV INC — COM

0.22%

1,041,316

Not disclosed

$54,825,287.00Jun 30, 2026

Not disclosed

CUSIP 406216101HALLIBURTON CO — COM

0.22%

1,590,285

Not disclosed

$53,990,176.00Jun 30, 2026

Not disclosed

CUSIP 573874104MARVELL TECHNOLOGY INC — COM

0.22%

181,176

Not disclosed

$53,970,519.00Jun 30, 2026

Not disclosed

CUSIP G0378L100ANGLOGOLD ASHANTI PLC — COM SHS

0.22%

665,558

Not disclosed

$53,836,987.00Jun 30, 2026

Not disclosed

CUSIP 89832Q109TRUIST FINL CORP — COM

0.22%

1,078,721

Not disclosed

$53,741,880.00Jun 30, 2026

Not disclosed

CUSIP 69351T106PPL CORP — COM

0.22%

1,468,865

Not disclosed

$53,393,243.00Jun 30, 2026

Not disclosed

CUSIP 58155Q103MCKESSON CORP — COM

0.22%

70,358

Not disclosed

$53,162,505.00Jun 30, 2026

Not disclosed

CUSIP 03674X106ANTERO RESOURCES CORP — COM

0.22%

1,507,657

Not disclosed

$52,979,067.00Jun 30, 2026

Not disclosed

CUSIP 844741108SOUTHWEST AIRLS CO — COM

0.22%

1,022,946

Not disclosed

$52,599,883.00Jun 30, 2026

Not disclosed

CUSIP 59156R108METLIFE INC — COM

0.22%

621,519

Not disclosed

$52,586,723.00Jun 30, 2026

Not disclosed

CUSIP 67059N108NUTANIX INC — CL A

0.21%

998,761

Not disclosed

$50,896,861.00Jun 30, 2026

Not disclosed

CUSIP 171779309CIENA CORP — COM NEW

0.2%

101,038

Not disclosed

$49,565,201.00Jun 30, 2026

Not disclosed

CUSIP G25457105CREDO TECHNOLOGY GROUP HOLDI — ORDINARY SHARES

0.2%

178,996

Not disclosed

$48,677,962.00Jun 30, 2026

Not disclosed

CUSIP 457669307INSMED INC — COM PAR $.01

0.2%

455,392

Not disclosed

$48,553,895.00Jun 30, 2026

Not disclosed

CUSIP 82575P107SIBANYE STILLWATER LTD — SPONSORED ADR

0.2%

5,691,634

Not disclosed

$48,321,973.00Jun 30, 2026

Not disclosed

CUSIP 880770102TERADYNE INC — COM

0.2%

98,627

Not disclosed

$47,719,688.00Jun 30, 2026

Not disclosed

CUSIP 03743Q108APA CORPORATION — COM

0.19%

1,444,176

Not disclosed

$47,036,812.00Jun 30, 2026

Not disclosed

CUSIP 87422Q109TALEN ENERGY CORP — COM

0.19%

121,506

Not disclosed

$46,689,896.00Jun 30, 2026

Not disclosed

CUSIP 733174700POPULAR INC — COM NEW

0.19%

278,207

Not disclosed

$45,676,025.00Jun 30, 2026

Not disclosed

CUSIP 126650100CVS HEALTH CORP — COM

0.19%

440,972

Not disclosed

$45,618,553.00Jun 30, 2026

Not disclosed

CUSIP 881624209TEVA PHARMACEUTICAL INDS LTD — SPONSORED ADS

0.18%

1,326,678

Not disclosed

$44,947,851.00Jun 30, 2026

Not disclosed

CUSIP 75734B100REDDIT INC — CL A

0.18%

257,428

Not disclosed

$44,684,352.00Jun 30, 2026

Not disclosed

CUSIP 887389104TIMKEN CO — COM

0.18%

302,724

Not disclosed

$43,991,852.00Jun 30, 2026

Not disclosed

CUSIP 040413205ARISTA NETWORKS INC — COM SHS

0.18%

254,275

Not disclosed

$43,196,237.00Jun 30, 2026

Not disclosed

CUSIP 320517105FIRST HORIZON CORPORATION — COM

0.17%

1,633,439

Not disclosed

$41,881,376.00Jun 30, 2026

Not disclosed

CUSIP 92343V104VERIZON COMMUNICATIONS INC — COM

0.17%

980,458

Not disclosed

$41,512,592.00Jun 30, 2026

Not disclosed

CUSIP 099724106BORGWARNER INC — COM

0.17%

623,455

Not disclosed

$41,397,412.00Jun 30, 2026

Not disclosed

CUSIP G6700G107NVENT ELEC PLC — SHS

0.17%

242,970

Not disclosed

$41,210,142.00Jun 30, 2026

Not disclosed

CUSIP 989701107ZIONS BANCORPORATION NATL AS — COM

0.17%

591,357

Not disclosed

$40,915,991.00Jun 30, 2026

Not disclosed

CUSIP 165167735EXPAND ENERGY CORPORATION — COM

0.17%

447,886

Not disclosed

$40,842,724.00Jun 30, 2026

Not disclosed

CUSIP 629377508NRG ENERGY INC — COM NEW

0.17%

277,935

Not disclosed

$40,595,186.00Jun 30, 2026

Not disclosed

CUSIP 989207105ZEBRA TECHNOLOGIES CORPORATI — CL A

0.16%

151,328

Not disclosed

$39,838,609.00Jun 30, 2026

Not disclosed

Dalio Tracker · as of Oct 25, 2026
Security	Allocation	Unrealized P&L
SPYState Street SPDR S&P 500 ETF Trust	37.6%	Not disclosed
IVViShares Core S&P 500 ETF	20.9%	Not disclosed
NVDANvidia Corp	6.3%	Not disclosed

Security

Allocation

Unrealized P&L

SPYState Street SPDR S&P 500 ETF Trust

37.6%

Not disclosed

IVViShares Core S&P 500 ETF

20.9%

Not disclosed

NVDANvidia Corp

6.3%

Not disclosed

Ray Dalio

Life phases1

Earnings by year1

Ray Dalio

Life phases1

Earnings by year1

Personal holdings & P&L

Personal trades & P&L

Work and contributions8

Work7

Companies founded1

Sources4

Ray Dalio

Life phases1

Earnings by year1

Ray Dalio

Life phases1

Earnings by year1

Personal holdings & P&L

Personal trades & P&L

Fund holdings & tracked strategies

Published portfolio return

Work and contributions8

Work7

Companies founded1

Sources4