Ray Dalio's SPY Position Overview
Ray Dalio (via Bridgewater Associates, Lp) currently holds 4.46 M shares of State Street SPDR S&P 500 ETF (SPY) worth $3.04 B, representing 11.08% of the portfolio. First purchased in 2013-Q2, this long-term strategic position has been held for 51 quarters.
Based on 13F filings since 2013, Ray Dalio has maintained a long-term strategic position in SPY, representing a significant commitment to this investment thesis. Largest addition occurred in Q4 2024, adding 7.4 M shares. Largest reduction occurred in Q2 2015, reducing 5.94 M shares.
Analysis based on 13F filings available since 2013 Q2
Ray Dalio's State Street SPDR S&P 500 ETF (SPY) Holding Value Over Time
Track share changes against reported price movement
Quarterly State Street SPDR S&P 500 ETF (SPY) Trades by Ray Dalio
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q2 2013 | +19.82 M | Add 0.00% | 19.82 M | $160.42 |
| Q3 2013 | +870,300 | Add 4.39% | 20.69 M | $168.01 |
| Q4 2013 | -1.5 M | Reduce 7.26% | 19.19 M | $184.69 |
| Q1 2014 | -71,500 | Reduce 0.37% | 19.12 M | $187.01 |
| Q3 2014 | -1.84 M | Reduce 9.65% | 17.27 M | $197.02 |
| Q4 2014 | -1.91 M | Reduce 11.07% | 15.36 M | $205.54 |
| Q1 2015 | +1.05 M | Add 6.83% | 16.41 M | $206.43 |
| Q2 2015 | -5.94 M | Reduce 36.21% | 10.47 M | $205.85 |
| Q3 2015 | -230,300 | Reduce 2.20% | 10.24 M | $191.63 |
| Q4 2015 | +270,700 | Add 2.64% | 10.51 M | $203.87 |
| Q1 2016 | -185,400 | Reduce 1.76% | 10.32 M | $205.52 |
| Q2 2016 | -101,000 | Reduce 0.98% | 10.22 M | $209.48 |
| Q3 2016 | +666,100 | Add 6.52% | 10.89 M | $216.30 |
| Q4 2016 | -789,000 | Reduce 7.25% | 10.1 M | $223.53 |
| Q1 2017 | -225,871 | Reduce 2.24% | 9.87 M | $235.74 |
| Q2 2017 | -275,836 | Reduce 2.79% | 9.6 M | $241.80 |
| Q3 2017 | -113,262 | Reduce 1.18% | 9.48 M | $251.23 |
| Q4 2017 | -17,130 | Reduce 0.18% | 9.47 M | $266.86 |
| Q1 2018 | -538,178 | Reduce 5.69% | 8.93 M | $263.15 |
| Q2 2018 | -545,037 | Reduce 6.10% | 8.38 M | $271.28 |
| Q3 2018 | -533,108 | Reduce 6.36% | 7.85 M | $290.72 |
| Q4 2018 | -343,193 | Reduce 4.37% | 7.51 M | $249.92 |
| Q1 2019 | +461,434 | Add 6.15% | 7.97 M | $282.48 |
| Q2 2019 | -1.19 M | Reduce 14.92% | 6.78 M | $293.00 |
| Q3 2019 | +259,530 | Add 3.83% | 7.04 M | $296.77 |
| Q4 2019 | -48,801 | Reduce 0.69% | 6.99 M | $321.86 |
| Q1 2020 | -3.43 M | Reduce 49.01% | 3.56 M | $257.75 |
| Q2 2020 | +1.48 M | Add 41.57% | 5.05 M | $308.36 |
| Q3 2020 | -1.08 M | Reduce 21.33% | 3.97 M | $334.89 |
| Q4 2020 | -283,029 | Reduce 7.13% | 3.69 M | $373.88 |
| Q1 2021 | -548,244 | Reduce 14.87% | 3.14 M | $396.33 |
| Q2 2021 | -1.16 M | Reduce 37.06% | 1.98 M | $428.06 |
| Q3 2021 | -7,456 | Reduce 0.38% | 1.97 M | $429.14 |
| Q4 2021 | -84,371 | Reduce 4.29% | 1.88 M | $474.96 |
| Q2 2022 | -39,972 | Reduce 2.12% | 1.84 M | $377.25 |
| Q3 2022 | -379,950 | Reduce 20.61% | 1.46 M | $357.18 |
| Q4 2022 | -89,318 | Reduce 6.10% | 1.37 M | $382.43 |
| Q1 2023 | -140,877 | Reduce 10.25% | 1.23 M | $409.39 |
| Q2 2023 | -197,335 | Reduce 16.00% | 1.04 M | $443.28 |
| Q3 2023 | -39,807 | Reduce 3.84% | 995,975 | $427.48 |
| Q4 2023 | -172,724 | Reduce 17.34% | 823,251 | $475.31 |
| Q1 2024 | -108,857 | Reduce 13.22% | 714,394 | $523.07 |
| Q2 2024 | -2,201 | Reduce 0.31% | 712,193 | $544.22 |
| Q3 2024 | +124,772 | Add 17.52% | 836,965 | $573.76 |
| Q4 2024 | +7.4 M | Add 883.56% | 8.23 M | $586.08 |
| Q1 2025 | -4.89 M | Reduce 59.40% | 3.34 M | $559.39 |
| Q2 2025 | -731,882 | Reduce 21.90% | 2.61 M | $617.85 |
| Q3 2025 | -45,272 | Reduce 1.73% | 2.57 M | $666.18 |
| Q4 2025 | +1.89 M | Add 73.69% | 4.46 M | $681.92 |
Ray Dalio's State Street SPDR S&P 500 ETF Investment FAQs
Ray Dalio first purchased State Street SPDR S&P 500 ETF (SPY) in Q2 2013, acquiring 19,818,900 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Ray Dalio has held State Street SPDR S&P 500 ETF (SPY) for 51 quarters since Q2 2013.
Ray Dalio's largest addition to State Street SPDR S&P 500 ETF (SPY) was in Q2 2013, adding 19,818,900 shares worth $3.18 B.
According to the latest 13F filing for Q4 2025, Ray Dalio's firm, Bridgewater Associates, Lp, owns 4,455,413 shares of State Street SPDR S&P 500 ETF (SPY), valued at approximately $3.04 B.
As of the Q4 2025 filing, State Street SPDR S&P 500 ETF (SPY) represents approximately 11.08% of Ray Dalio's publicly disclosed stock portfolio, making it one of their key holdings.
Ray Dalio's peak holding in State Street SPDR S&P 500 ETF (SPY) was 20,689,200 shares, as reported at the end of Q3 2013.