Ray Dalio's Bridgewater Associates Holds $24.4 Billion Across 990 Positions in Q3 2026
Bridgewater Associates, led by Ray Dalio, reported a portfolio of $24.4 billion spread across 990 positions as of September 30, 2026. The top ten positions, led by the SPDR S&P 500 ETF, account for 31.5% of the total reported amount.
Bridgewater Associates, founded by Ray Dalio, declared a portfolio valued at $24.4 billion as of September 30, 2026, spread across 990 positions.
Bridgewater Associates: Ray Dalio's Investment Philosophy
The fund employs a systematic macroeconomic approach, seeking to identify global economic cycles and adjust asset allocations based on the probability of various scenarios. This methodology relies on quantitative models that weight asset classes according to their historical correlations, a principle often referred to as "risk parity." The philosophy aims to reduce portfolio volatility while capturing the most favorable market returns.
Ray Dalio, who founded Bridgewater in 1975, is renowned for his book "Principles" and for guiding the firm to become the world's largest asset manager. While the exact performance of the fund isn't disclosed in the 13F filing, its reputation rests on its ability to generate risk-adjusted returns above average through global diversification and active management of macro exposures.
Traditionally, Bridgewater favors sectors such as consumer staples, financial services, energy, and technology, with asset allocations reflecting expectations for growth and inflation. The combination of long positions in broad market indices and individual stocks allows the fund to benefit from both overall market performance and the specific dynamics of certain companies.
Key New Positions and Strengths
The 13F filing indicates that the top ten positions account for 31.5% of the reported portfolio. The SPDR S&P 500 ETF Trust (ticker: SPY) is the largest holding at $3.97 billion, representing 16.3% of the total, with 5,320,308 shares. The iShares Core S&P 500 ETF (ticker: IVV) follows as the second-largest position at $2.49 billion, or 10.2% of the portfolio, spread across 5,446,707 shares.
Among individual stocks, NVIDIA Corporation appears with a $770 million position (3.2% of the portfolio) and 3,866,195 shares, reflecting exposure to the semiconductor and artificial intelligence sectors. Alphabet Inc. and Broadcom Inc. each hold $500 million (2.0% of the portfolio), indicating interest in digital services and communication infrastructure. Amazon.com Inc. also holds $480 million (2.0% of the portfolio), highlighting the fund's confidence in e-commerce and cloud computing.
Other notable positions in the top ten include LAM Research Corp. ($410 million, 1.7%), Vanguard Index Funds ($310 million, 1.3%), and Advanced Micro Devices Inc. ($310 million, 1.3%). The remaining 980 positions total $14.1 billion, or 57.8% of the portfolio, underscoring significant diversification beyond the most visible holdings.
Cuts and Exits - What the Manager is Leaving Behind
The 13F filing does not provide a direct comparison with the previous quarter, so reductions or divestments cannot be identified from the published data alone. Based on available information, no full exits are explicitly mentioned in the August 14, 2026, filing.
Limitations of the 13F: What This Filing Does NOT Say
A 13F filing must be submitted to the SEC within 45 days of the end of the quarter, meaning the positions reflect the situation on the last day of the quarter but may already have been adjusted by the time of publication. The report only includes long equity positions in U.S.-listed companies; it excludes short positions, options, futures contracts, and investments outside the public markets or outside the U.S. As a result, the view presented captures only a portion of Bridgewater's global strategy, which also employs derivatives and non-equity allocations to manage risk.
