Bridgewater Associates, led by Ray Dalio, reported a $24.4 billion portfolio for Q3 2026, spread across 990 positions. The fund holds 990 positions, with the SPDR S&P 500 ETF representing 16.3% of the total.
Bridgewater Associates, under Ray Dalioâs leadership, reported a $24.4 billion portfolio for Q3 2026, spread across 990 positions.
Bridgewater Associates: Ray Dalio's Investment Philosophy
Bridgewater is known for its macroeconomic approach, seeking to exploit global economic cycles. Ray Dalio, the manager, emphasizes a systematic analysis of economic data, monetary policies, and market trends to position the portfolio based on growth or slowdown expectations. According to available information, the fund combines value and growth strategies while remaining open to technology, consumer, and financial services sectors, which have historically offered attractive returns in a variable interest rate environment.
Key New Positions and Strengths
The 13F filing reveals the most significant holdings in the portfolio:
STATE STR SPDR S&P 500 ETF T: $3.97 billion, representing 16.3% of the portfolio, with 5,320,308 shares.
ISHARES TR: $2.49 billion, representing 10.2% of the portfolio, with 5,446,707 shares.
NVIDIA CORPORATION: $770 million, representing 3.2% of the portfolio, with 3,866,195 shares.
ALPHABET INC: $500 million, representing 2.0% of the portfolio, with 1,396,383 shares.
BROADCOM INC: $500 million, representing 2.0% of the portfolio, with 1,317,923 shares.
ISHARES INC: $500 million, representing 2.0% of the portfolio, with 3,816,595 shares.
AMAZON COM INC: $480 million, representing 2.0% of the portfolio, with 2,025,481 shares.
LAM RESEARCH CORP: $410 million, representing 1.7% of the portfolio, with 938,224 shares.
VANGUARD INDEX FDS: $310 million, representing 1.3% of the portfolio, with 458,381 shares.
ADVANCED MICRO DEVICES INC: $310 million, representing 1.3% of the portfolio, with 538,632 shares.
These positions collectively represent over 50% of the total reported value, indicating significant concentration on widely diversified assets through index funds (SPDR S&P 500, iShares) as well as high-growth technology stocks like NVIDIA, Alphabet, Broadcom, Amazon, and AMD. The substantial presence of ETFs suggests a market risk hedging strategy while maintaining exposure to large-cap U.S. equities.
Reductions and Exits â What the Manager is Ditching
The 13F form does not detail the divestments made during the quarter. Without specific data, it's impossible to identify the securities that were sold or the reduced positions. The filing only provides the positions held as of the quarter's end date.
Limitations of the 13F: What This Filing DOES NOT Say
The 13F form has several constraints:
A 45-day delay after the end of the quarter before publication, meaning the positions reflect the last day of the quarter but may have evolved since then.
Short positions are not included, so the fund's net exposure cannot be fully assessed.
Derivatives, options, and other non-equity financial instruments are not disclosed, limiting visibility into hedging or leverage strategies.
Non-U.S.-listed securities or private fund investments may be omitted, reducing transparency on the portfolio's overall exposure.
