Ray Dalio's top holdings (January 2026) include BlackRock Institutional Trust Company N.A. - iShares Core S&P 500 ETF (IVV), an exchange-traded fund designed to track the performance of the S&P 500 index.

Ray Dalio is the founder, co-chief investment officer, and co-chairman of Bridgewater Associates, one of the world's largest hedge funds. His investment focus often involves a global macro approach, analyzing economic trends and market behaviors across various asset classes worldwide.

BlackRock Institutional Trust Company N.A. - iShares Core S&P 500 ETF (IVV)

The iShares Core S&P 500 ETF provides broad exposure to U.S. equities by tracking the performance of the S&P 500 index. This fund allows investors to gain diversified access to 500 of the largest U.S. companies across various sectors. The fund holds a market capitalization of approximately $3.59B, and Ray Dalio's current position is valued at $2.8B.
Here's an overview of Ray Dalio's trades in BlackRock Institutional Trust Company N.A. - iShares Core S&P 500 ETF:

SSgA Active Trust - SPDR S&P 500 ETF Trust (SPY)

The SPDR S&P 500 ETF Trust is a widely recognized exchange-traded fund designed to mirror the price and yield performance of the S&P 500 index. It offers investors exposure to a broad basket of large-cap U.S. stocks, representing a significant portion of the U.S. equity market. The company's market cap stands at $830.58M, while the current value of Ray Dalio's holding is $1.76B.
Here's an overview of Ray Dalio's trades in SSgA Active Trust - SPDR S&P 500 ETF Trust:

Alphabet Inc (GOOGL)

Alphabet Inc. is a global technology conglomerate, best known as the parent company of Google, encompassing diverse segments like search, cloud computing (Google Cloud), and autonomous driving (Waymo). Its vast portfolio of internet-related services and products makes it a dominant force in the digital economy. Ray Dalio's position in Alphabet Inc. (Class A) is currently valued at $834.25M. Analysts have set a price target of $303.0 for Alphabet Inc., and its discounted cash flow analysis suggests a value of $259.35 per share.
Here's an overview of Ray Dalio's trades in Alphabet Inc:

Lam Research Corp. (LRCX)

Lam Research Corporation is a key supplier of wafer fabrication equipment and services to the global semiconductor industry. The company's innovative products are critical for manufacturing integrated circuits, enabling the production of advanced memory and logic devices. With a market capitalization of $200.15B, this holding in Ray Dalio's portfolio is currently worth $606.75M. The discounted cash flow value for Lam Research is $53.14, and analysts have set a price target of $163.71 for the company.
Here's an overview of Ray Dalio's trades in Lam Research Corp.:

Microsoft Corporation (MSFT)

Microsoft Corporation is a multinational technology company developing, manufacturing, licensing, supporting, and selling computer software, consumer electronics, personal computers, and related services. Its ubiquitous products include the Windows operating system, Office productivity suite, Azure cloud services, and the Xbox gaming console. Microsoft has a market capitalization of $3.63T, with Ray Dalio's position currently valued at $534.16M. Analysts forecast a price target of $639.21 for Microsoft, and its discounted cash flow analysis suggests a value of $381.87 per share.
Here's an overview of Ray Dalio's trades in Microsoft Corporation: