Bridgewater Associates (Ray Dalio) Holds $24.4 Billion in Q3 2026: Major Positions Revealed
Bridgewater Associates, led by Ray Dalio, reported a market-valued portfolio of $24.4 billion as of September 30, 2026, spread across 990 positions. The top ten holdings represent between 1.3% and 16.3% of the portfolio, dominated by S&P 500 and iShares ETFs.
Bridgewater Associates, led by Ray Dalio, reported a market-valued portfolio of $24.4 billion as of September 30, 2026, spread across 990 positions. The 13F-HR filing was published on the SEC's official website on August 14, 2026, in compliance with the 45-day reporting requirement following the end of the quarter.
Bridgewater Associates: Ray Dalio's Investment Philosophy
The fund, founded by Ray Dalio, employs a macroeconomic approach that combines global economic cycle analysis with broad asset diversification. This philosophy is reflected in its significant holdings of index funds and technology stocks, reflecting a belief that the performance of broad markets and high-growth sectors can be effectively captured through weighted allocations. The investment style emphasizes risk management through exposure diversification, which explains the heavy concentration in large-cap ETFs.
Major New Positions and Strengthenings
The filing reveals that the two largest positions are index funds: the State Street SPDR S&P 500 ETF Trust (ticker SPY) amounts to $3.97 billion, representing 16.3% of the portfolio, with 5,320,308 shares held. The iShares Trust (ticker IVV) follows with $2.49 billion, accounting for 10.2% of the portfolio, and 5,446,707 shares. These two ETFs provide direct exposure to the entire U.S. market, aligning with the fund's diversification strategy.
Among individual stocks, NVIDIA Corporation holds third place with $770 million (3.2% of the portfolio) and 3,866,195 shares, reflecting a bet on sustained demand for graphics chips and artificial intelligence. Alphabet Inc. (Google) and Broadcom Inc. each amount to $500 million (2.0% of the portfolio), with respective shares of 1,396,383 and 1,317,923, indicating exposure to digital services and semiconductors. A third iShares fund (likely another product from the same issuer) also appears at $500 million (2.0%). Amazon.com Inc. is held at $480 million (2.0%) with 2,025,481 shares, reinforcing the fund's position in e-commerce and cloud computing.
Other notable positions include Lam Research Corp. ($410 million, 1.7% of the portfolio, 938,224 shares), Vanguard Index Funds ($310 million, 1.3% of the portfolio, 458,381 shares), and Advanced Micro Devices Inc. ($310 million, 1.3% of the portfolio, 538,632 shares). All these holdings are in the technology and services sectors, reflecting the fund's conviction that medium-term growth will remain largely driven by digital innovation and computing infrastructure.
Cuts and Exits: What the Manager is Leaving Behind
The 13F-HR filing shows no indication of reductions or exits among the top ten positions. No figures on divestments are provided, meaning that, based on available information, Bridgewater did not notably reduce its stakes in these holdings during the quarter. The absence of data on exits prevents any conclusions about potential portfolio rotation strategies within these positions.
Limitations of the 13F: What This Filing Doesn't Say
The Form 13F only discloses long positions held as of the quarter's end and does not cover short positions, options, futures, or non-U.S. strategies. Additionally, the filing is submitted within 45 days after the end of the quarter, introducing a lag between portfolio reality and public information. The amounts reported correspond to market value on the last day of the quarter, without considering post-filing fluctuations. Finally, unlisted U.S. assets, private equity funds, and structured products are not included in the 13F reporting.
