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Ray Dalio's British American Tobacco p.l.c. (BTI) position

Yes: as of Q1 2026, Ray Dalio holds 766K shares of BTI worth $45M (0.2% of the disclosed portfolio). Last quarter the position was reduced by 74.1%. First disclosed Q3 2024.
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Current value
$45M
Shares held
766K
% of portfolio
0.2%
Est. average buy price (i)
$38.52
Quarter-end price
$58.47

Estimated trade prices

Average price in quarters with purchases
$38.52
Average prices in quarters with sales
  • Q1 2026: $59.18 (2.2M shares sold)
  • Q4 2025: $54.56 (791K shares sold)

BTI price vs Dalio's position

1Y 3Y 5Y MAX
Dates
$20$40$60$80202420252026New position of 741K shares · Q3 2024. Average closing price $35.74 · Price range $31.07–$39.36741KsharespurchasedAdded 1.9M shares (261.7%) · Q4 2024. Average closing price $36.12 · Price range $34.25–$37.941.9MsharespurchasedAdded 553K shares (20.6%) · Q1 2025. Average closing price $39.31 · Price range $35.35–$42.74553KsharespurchasedAdded 175K shares (5.4%) · Q2 2025. Average closing price $44.28 · Price range $39.43–$49.34175KsharespurchasedAdded 334K shares (9.8%) · Q3 2025. Average closing price $54.29 · Price range $46.69–$59.27334KsharespurchasedSold 791K shares (21.1%) · Q4 2025. Average closing price $54.56 · Price range $50.39–$58.77791KsharessoldSold 2.2M shares (74.1%) · Q1 2026. Average closing price $59.18 · Price range $53.29–$63.032.2Msharessold
Average closing price · filing quarter
$59.18
Price range · filing quarter
$53.29 – $63.03
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Every quarterly change

Quarter Action Shares change Est. value change Δ Own Shares held Filing date
Q1 2026 Reduced −2.2M −$129M −74.1% 766K May 15, 2026
Q4 2025 Reduced −791K −$43M −21.1% 3.0M Feb 13, 2026
Q3 2025 Added +334K +$18M +9.8% 3.7M Nov 13, 2025
Q2 2025 Added +175K +$7.7M +5.4% 3.4M Aug 13, 2025
Q1 2025 Added +553K +$22M +20.6% 3.2M May 14, 2025
Q4 2024 Added +1.9M +$70M +261.7% 2.7M Feb 13, 2025
Q3 2024 New +741K +$26M – 741K Nov 13, 2024
Data through Q1 2026 · filed May 15, 2026
7 grouped rows from 7 quarters

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Common questions

Does Ray Dalio own BTI?

Yes. As of Q1 2026, Ray Dalio disclosed 766K shares of BTI, worth $45M. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

When did Ray Dalio buy BTI?

Ray Dalio first disclosed a BTI position in Q3 2024; every quarterly buy and sell since is in the table above. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

Did Ray Dalio sell BTI?

The quarter-by-quarter table above shows each sale and reduction Ray Dalio disclosed in BTI. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How many shares of BTI does Ray Dalio own?

Ray Dalio disclosed 766K shares of BTI as of Q1 2026. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

What price did Ray Dalio pay for BTI?

Ray Dalio's estimated average buy price for BTI is $38.52, from quarter-average prices weighted by the shares added each quarter. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How are the estimated trade prices calculated?

13F filings disclose quarter-end holdings, not trade dates or execution prices. These estimates use each covered quarter's average market price; the add average excludes the opening position and quarters without price data. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.