Ray Dalio's position in Vanguard Group - Vanguard FTSE Emerging Markets ETF is currently worth $165M. That's 0.68% of their equity portfolio (16th largest holding). The first Vanguard Group - Vanguard FTSE Emerging Markets ETF trade was made in Q4 2009. Since then Ray Dalio bought shares 38 more times and sold shares on 28 occasions. The stake costed the investor $115M, netting the investor a gain of 43% so far.