Bridgewater Associates reports a $24.4 billion portfolio, SPDR S&P 500 ETF accounts for 16.3% of total

Bridgewater Associates, the world's largest hedge fund led by Ray Dalio, reported a market-valued portfolio of $24.4 billion as of the end of the third quarter 2026, according to the 13F-HR filing submitted on August 14, 2026.

Bridgewater Associates: Ray Dalio's Investment Philosophy

Ray Dalio founded Bridgewater on a systematic macroeconomic approach, combining quantitative analysis with diversification principles. The fund favors "risk parity" and risk management strategies, seeking to balance exposures across different asset classes to reduce volatility. Historically, Bridgewater has generated returns exceeding market averages through flexible allocation among equities, fixed-income instruments, and derivatives, while maintaining a focus on forecasting global economic cycles. Preferred sectors include technology, discretionary consumption, and financial services, reflecting the manager's belief that innovation and global demand drive long-term growth.

Key New Positions and Strengths

The filing indicates that the fund holds 990 securities, with the top ten representing nearly 31% of the portfolio. The SPDR S&P 500 ETF (ticker: STATE STR SPDR S&P 500) is the largest position at $3.97 billion (16.3%), followed by the iShares Core S&P 500 ETF (ISHARES TR) at $2.49 billion (10.2%). Among individual stocks, NVIDIA ($770 million, 3.2%) and Alphabet ($500 million, 2.0%) lead, showcasing the fund's appetite for AI and cloud leaders. Broadcom, Amazon, Lam Research, Vanguard Index Funds, and Advanced Micro Devices round out the top ten, each accounting for 1.3% to 2.0% of the portfolio. In total, positions outside the top ten amount to $14.1 billion (57.7%), highlighting broad diversification beyond the most visible holdings.

Cuts and Exits - What the Manager is Leaving Behind

The 13F form does not provide a direct comparison with the previous quarter, so no specific information is available on reductions or divestments during the quarter. Without historical data in the filing, it's impossible to identify which positions were reduced or liquidated. Readers should refer to prior fund filings or other information sources to track portfolio evolution.

Limitations of the 13F: What This Filing Does NOT Say

The 13F form, required by the SEC, only includes long positions held in the U.S. and excludes short positions, options, futures contracts, or assets outside U.S. jurisdiction. Additionally, the filing must be submitted within 45 days after the end of the quarter, creating a temporal lag that may obscure recent portfolio adjustments. Finally, the amounts reported are expressed in market value as of the quarter-end, without specifying purchase price, holding duration, or the fund's overall capital exposure.

To review the complete filing details, please consult the official document available on the SEC website: SEC 13F - Bridgewater Associates (Ray Dalio). This source is the sole reference for verifying all data presented above.