Bridgewater (Ray Dalio) Reports $24.4B 13F for Q3 2026, Led by SPDR S&P 500 ETF

Bridgewater Associates, the hedge fund founded by Ray Dalio, reported a $24.4 billion portfolio in its Q3 2026 13F filing with the SEC. The fund holds 99 positions, with its largest holding being the SPDR S&P 500 ETF, representing 16.3% of the portfolio ($3.97 billion). This filing, made on August 14, 2026, reflects holdings as of June 30, 2026.

Bridgewater: Ray Dalio's Investment Philosophy

Bridgewater Associates, founded in 1975 by Ray Dalio, is one of the world's largest hedge funds, known for its macroeconomic approach and radical diversification principle. Dalio, who retired in 2022, has built an impressive track record, notably anticipating the 2008 financial crisis. The fund favors quantitative models for asset allocation, with significant exposure to index ETFs to capture equity and fixed-income market performance.

Key New Positions and Strengthens

Notable positions include 5,320,308 shares of SPDR S&P 500 ETF ($3.97 billion), 5,446,707 shares of iShares Core S&P 500 ETF ($2.49 billion), and 3,866,195 shares of NVIDIA ($770 million). The fund also holds positions in Alphabet (1,396,383 shares, $500 million), Broadcom (1,317,923 shares, $500 million), and Amazon (2,025,481 shares, $480 million). These technology stocks reflect conviction in semiconductor and mega-cap growth. Lam Research (938,224 shares, $410 million) and AMD (538,632 shares, $310 million) round out the top 10, showing significant interest in the semiconductor equipment sector.

Cuts and Exits - What Bridgewater is Leaving Behind

The 13F filing does not detail changes from the prior quarter, but portfolio structure suggests reductions in certain positions. For example, the focus on ETFs indicates a preference for passive exposure over active bets on individual stocks. However, without comparative data, exact cuts or exits cannot be quantified. The fund may have reduced positions in some technology stocks to rebalance, but nothing can be confirmed with certainty.

Limitations of the 13F: What This Filing DOESN'T Say

The 13F form, filed within 45 days after the quarter's end, only reflects long equity positions in U.S.-listed securities. It excludes short positions, options, and foreign investments. Additionally, the data is dated as of June 30, 2026, meaning it may not reflect recent transactions. Thus, this filing provides an overview of Bridgewater's strategy but is incomplete and delayed. For a complete picture, successive quarterly filings and annual reports should be consulted.

In conclusion, this 13F reveals a portfolio dominated by index ETFs, with significant exposure to technology stocks. Individual investors can review the full document on SEC EDGAR via the provided link.