Bridgewater Associates (Ray Dalio) : $22.4 Billion Declared in Q2 2026 13F, Top Positions in S&P 500 ETF and Major Techs

Bridgewater Associates, the hedge fund founded by Ray Dalio, reported a $22.4 billion equity portfolio as of June 30, 2026, across 985 positions, according to its 13F filing with the SEC. The firm, renowned for its macroeconomic investment philosophy and "All Weather" approach, emphasizes extreme diversification and regime-based asset allocation.

Bridgewater Associates: Ray Dalio's Investment Philosophy

Ray Dalio, founder of Bridgewater, is a globally recognized macro investor known for his "All Weather" strategy, designed to perform across all economic environments (growth, recession, inflation, deflation). The fund employs a systematic approach based on principles of diversification and risk management. Bridgewater traditionally manages highly diversified portfolios with significant exposure to index ETFs and liquid large-cap equities. Dalio's track record includes strong performance during the 2008 financial crisis, where Bridgewater generated positive returns through its macroeconomic positioning.

Top New Positions and Additions

The 13F filing does not provide a breakdown between new positions and additions compared to the previous quarter, as raw data does not compare changes. However, the top positions reveal significant exposure to broad market ETFs: the State Street SPDR S&P 500 ETF (12.7% of the portfolio, 4.36 million shares) and the iShares Trust (8.9%, 5.07 million shares) dominate. Among individual stocks, Amazon (4.1%, 4.39 million shares) and Nvidia (3.7%, 4.69 million shares) are the largest holdings, followed by Alphabet (3.1%), Broadcom (2.5%), Micron Technology (2.2%), Microsoft (1.8%), and GE Vernova (1.7%). These allocations reflect a bias toward large-cap technology and industrial names, aligning with Bridgewater's macro strategy, which bets on U.S. growth and innovation.

Cuts and Exits: What Bridgewater is Leaving Behind

The available data only lists end-of-quarter positions without indicating changes from the previous quarter. Therefore, it's not possible to identify specific reductions or exits from this single filing alone. For a comprehensive analysis of movements, one would need to compare this 13F with the prior quarter's filing (Q1 2026), which is not provided here.

Limitations of the 13F: What This Filing Doesn't Say

The 13F form, filed within 45 days after the end of the quarter, only reflects long positions in U.S.-listed equities and certain ETFs. It excludes short positions, options, currencies, commodities, and non-U.S. investments. Additionally, the 45-day lag means the data may be outdated by the time it's published. As a macro fund, Bridgewater likely employs derivatives and hedging strategies that are not visible in this report. Finally, the disclosed positions represent only a portion of its overall portfolio, which includes unlisted assets and international investments.

To view the full filing, visit SEC EDGAR: link to filing.