Bridgewater Associates Reports $24.4 Billion Portfolio in Q3 2026, 16% in SPDR S&P 500

Bridgewater Associates, led by Ray Dalio, reported a valued portfolio of $24.4 billion as of September 30, 2026, according to the 13F-HR filing filed on August 14, 2026, with the SEC.^{Source: SEC 13F – Bridgewater Associates (Ray Dalio)}

Bridgewater Associates: Ray Dalio's Investment Philosophy

The fund is characterized by a systematic macroeconomic approach, combining geographic and sectoral diversification with quantitative models designed to identify market imbalances. Ray Dalio has popularized the concept of "risk parity," which allocates capital based on risk rather than nominal capital, aiming to smooth portfolio volatility.

Since its inception, Bridgewater has delivered performance exceeding market averages through active management of traditional asset classes (equities, bonds) and significant allocation to index funds to reduce transaction costs. The fund favors large-cap stocks, broad ETFs, and technology sectors, reflecting a comprehensive view of economic growth.

Key New Positions and Reinforcements

The largest holding in the portfolio is the State Street SPDR S&P 500 ETF Trust (ticker T) with $397 million, representing 16.3% of the reported total. This position includes 5,320,308 shares of the index fund, offering instant coverage of the entire U.S. market.

In second place, iShares Core S&P 500 ETF (ticker ISHARES TR) holds $249 million (10.2% of the portfolio) across 5,446,707 shares, confirming Bridgewater's preference for low-cost vehicles replicating the S&P 500 index.

Third is NVIDIA Corporation with $77 million, corresponding to 3.2% of the portfolio and 3,866,195 shares. NVIDIA is the leading manufacturer of graphics processors and a key player in artificial intelligence, explaining its weight in the technology portfolio.

Alphabet Inc. (Google) is fourth with $50 million (2.0% of the portfolio) and 1,396,383 shares, followed by Broadcom Inc. ($50 million, 2.0%) and iShares Inc. ($50 million, 2.0%). These holdings reinforce the fund's presence in the information and communication technology sector.

Amazon.com Inc. ($48 million, 2.0%) and Lam Research Corp. ($41 million, 1.7%) complete the technology group, while Vanguard Index Funds ($31 million, 1.3%) and Advanced Micro Devices Inc. ($31 million, 1.3%) provide additional exposure to index funds and semiconductors.

The remaining 980 positions total $14.1 billion, or 14.1% of the portfolio, highlighting the fund's broad diversification beyond the top 10.

Cuts and Exits – What's Being Abandoned

According to available information, the filing does not indicate any notable reductions or exits among the listed positions, with the portfolio primarily showing reinforcements or maintained positions during the quarter.

Limitations of the 13F: What This Filing DOESN'T Say

The Form 13F only covers long positions in U.S.-listed equities and is filed within 45 days after the end of the quarter, meaning recent moves may not be reflected. Short positions, options, futures contracts, and foreign investments remain invisible in this report. Additionally, the reported amount corresponds to the market value on the last day of the quarter, without considering intraday fluctuations or transaction costs.