Ray Dalio's Bridgewater Associates Holds $24.4 Billion Across 990 Positions in Q3 2026
Ray Dalio's Bridgewater Associates reported a $24.4 billion portfolio in the third quarter of 2026, spread across 990 positions. The top ten largest positions account for 42% of the portfolio, with significant exposure to S&P 500 ETFs and technology stocks.
Bridgewater Associates, under Ray Dalioâs leadership, reported a $24.4 billion U.S. dollar-denominated portfolio for the third quarter of 2026, consisting of 990 distinct positions.
Bridgewater Associates: Ray Dalio's Investment Philosophy
The 13F filing provides no explicit indication regarding Bridgewater Associates' investment philosophy, track record, or style (value, growth, macro). Based on available information, the filing is limited to listing the long positions held, without commentary on selection criteria or fund performance objectives.
Key New Positions and Strengthens
The table of the top ten largest positions reveals notable concentration around two asset categories. First, listed index funds (ETFs) dominate the portfolio: The SPDR S&P 500 ETF Trust amounts to $397 million, representing 16.3% of the total, while two iShares funds ($249 million, or 10.2%, and $50 million, or 2.0%) and the Vanguard Index Fund ($31 million, or 1.3%) complete this exposure to broad market indices. This combined share of four ETFs totals approximately 28.5% of the portfolio, indicating a preference for passive diversification and market index replication.
Second, individual technology stocks hold a significant place. NVIDIA Corporation is held at $77 million (3.2% of the portfolio) with 3,866,195 shares, Alphabet Inc. at $50 million (2.0%) with 1,396,383 shares, Broadcom Inc. at $50 million (2.0%) with 1,317,923 shares, Amazon.com Inc. at $48 million (2.0%) with 2,025,481 shares, Lam Research Corp. at $41 million (1.7%) with 938,224 shares, and Advanced Micro Devices Inc. at $31 million (1.3%) with 538,632 shares. The sum of these six technology stocks represents 12.2% of the portfolio, highlighting targeted exposure to semiconductor, cloud services, and e-commerce subsectors.
Adding up the values of the top ten positions yields $10.24 billion, exactly 42% of the total portfolio. The remaining 980 positions, valued at $14.16 billion, account for the remaining 58%, indicating significant diversification beyond the most visible holdings. The high number of positions (990) suggests a strategy of spreading capital across many assets, even though the filing does not detail sector allocation beyond the listed names.
Each position is accompanied by the number of shares held, which allows calculating the implied average price per share, but the filing does not provide market prices at the reporting date. However, the presence of several million shares in each holding demonstrates that Bridgewater holds significant stakes, consistent with large-scale management.
Reductions and Exits â What the Manager is Leaving Behind
The 13F filing provides no explicit indication of reductions or exits from positions compared to previous quarters. The filing does not compare current levels to prior periods, so no identifiable disengagements are signaled. In the absence of historical data in this document, it is impossible to determine which holdings were sold or reduced during the quarter. Therefore, readers should refer to prior filings to identify potential disengagements.
Limitations of the 13F: What This Filing DOES NOT Say
The 13F form, required by the SEC, must be filed within 45 days following the end of the quarter. This time constraint means that the positions reflected correspond to the situation on the last day of the quarter but may already have evolved by the time of publication. Furthermore, the 13F only lists long positions in U.S.-listed stocks. Short positions, options, futures contracts, non-listed securities, as well as exposures through private equity or debt funds are not disclosed. Consequently, the table presented provides only a partial view of Bridgewater Associates' overall portfolio. Finally, the filing does not reveal performance objectives, coverage strategies, or detailed sector weightings, which limits interpretation of the fund's macroeconomic positioning.
