Ray Dalio — Bridgewater Associates, LP 13F Holdings & Position Changes (Q2 2026)
Bridgewater Associates, LPCIK: 0001350694
Diversified strategyMomentum follower
Total reported value
$24.4B
Reporting period: 2026-06-30 · Number of holdings: 997
Bridgewater Associates, LP disclosed 997 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $24.4B and a quarterly turnover rate of 53.0%.
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Personality snowflake
- Concentration
- 15.87
- Portfolio Stability
- 53.03
- Momentum
- 100
- Sector conviction
- 46.97
- Diversification
- 100
- Sizing Uniformity
- 37.87
Bridgewater Associates, LP's disclosed holdings carry a Herfindahl concentration index of 0.040 — mathematically equivalent to about 25 equally-sized positions, well below its 997 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 6.21), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 67% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPY
+21.9% $1.1B
Trim AMZN
-53.8% -$431.3M
Trim MU
-92.1% -$363.9M
Trim TSM
-96.8% -$347.5M
Add IVV
+12.1% $498.4M
Trim GEV
-71.8% -$235.4M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Bridgewater's latest filing (quarter ended June 30, 2026) shows a clear rotation from single-name risk into index beta: the fund actively added to all three major S&P 500 ETFs — SPY (12.67%→16.30%), IVV (7.81%→9.22%) and VOO (0.42%→1.29%) — lifting combined index weight from roughly 21% to nearly 27%. In parallel it scaled back concentrated tech and semiconductor positions: Amazon (4.08%→1.98%), Micron (2.23%→0.55%), TSMC (1.62%→0.07%, effectively a full exit), GE Vernova (1.69%→0.59%) and Marvell (0.86%→0.22%). Across 997 holdings and a 53% turnover ratio, the quarter reads as a deliberate swap of idiosyncratic exposure for broad-market beta.
Macro & Fundamentals
These flows line up with two observable market currents: the ongoing dominance of passive index vehicles as the default institutional exposure, and a possible cooling toward the crowded AI-semiconductor complex spanning memory, foundry and networking silicon. The near-flat momentum tilt (+0.07 percentage points) paired with a maximum contrarian score is consistent with fading consensus positioning rather than chasing it — though with 13F capturing only a quarter-end snapshot and roughly a third of portfolio value unmapped to sectors, this remains an inference from limited data rather than a confirmed causal account.
Blind Spots / Risks
The sharpest vulnerability is a crowded-trade squeeze hiding inside a statistically diversified book: an HHI near 0.04 across 997 lines suggests minimal idiosyncratic risk, yet the three largest positions all replicate the same index, placing close to 27% of assets behind a single consensus trade in US mega-cap equity. Since SPY and IVV anchor global passive flows, any disorderly unwind would hit these 'diversified' sleeves in lockstep — and with position-sizing discipline scoring just 37.87, there is little evidence the build-up was sized with that scenario in mind.
Generated by AI directly from this institution's Form 13F disclosures on SEC EDGAR. Reflects historical positioning only and should not be treated as investment advice — the original filing is linked below for verification. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 997 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 16.30% | +3.63% | +21.89% | |
| 2 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 9.22% | +1.41% | +12.06% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 3.17% | -0.48% | -17.62% | |
| 4 | AVGO | Broadcom Inc | Stock-Tech | 2.04% | -0.50% | -28.19% | |
| 5 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.98% | -2.10% | -53.85% | |
| 6 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.94% | -0.62% | -33.81% | |
| 7 | LRCX | Lam Research CORP | Stock-Tech | 1.67% | +0.17% | -40.29% | |
| 8 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.29% | +0.87% | +188.97% | |
| 9 | AMD | Advanced Micro Devices | Stock-Tech | 1.28% | +0.11% | -58.34% | |
| 10 | EWY | Ishares Msci South Korea ETF | ETF-Other | 1.15% | +0.18% | -21.60% | |
| 11 | MSFT | Microsoft CORP | Stock-Tech | 1.09% | -0.70% | -34.39% | |
| 12 | NEM | Newmont CORP | Stock-Materials | 1.03% | -0.09% | +16.34% | |
| 13 | AMAT | Applied Materials Inc | Stock-Tech | 0.86% | +0.01% | -47.95% | |
| 14 | ORCL | Oracle CORP | Stock-Tech | 0.86% | -0.19% | -9.99% | |
| 15 | STX | Seagate Technology Holdings plc | Stock-Tech | 0.79% | +0.21% | -39.29% | |
| 16 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.70% | -0.06% | -3.98% | |
| 17 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 0.67% | +0.01% | +0.92% | |
| 18 | GEV | GE Vernova Inc | Stock-Industrials | 0.59% | -1.10% | -71.77% | |
| 19 | UNP | Union Pacific CORP | Stock-Industrials | 0.57% | -0.01% | -3.49% | |
| 20 | MU | Micron Technology Inc | Stock-Tech | 0.55% | -1.68% | -92.09% | |
| 21 | MBB | Ishares Mbs ETF | ETF-Other | 0.54% | -0.04% | +1.97% | |
| 22 | MO | Altria Group Inc | Stock-Consumer Staples | 0.51% | +0.01% | +1.27% | |
| 23 | APH | Amphenol Corp-cl A | Stock-Tech | 0.50% | +0.01% | -19.17% | |
| 24 | ASML | ASML Holding N.V. | Stock-Tech | 0.50% | -0.04% | -33.10% | |
| 25 | B | Barrick Mining CORP | Stock-Materials | 0.50% | -0.06% | +7.33% | |
| 26 | CLS | Celestica Inc | Stock-Tech | 0.49% | -0.17% | -37.09% | |
| 27 | VST | Vistra CORP | Stock-Utilities | 0.49% | +0.26% | +115.69% | |
| 28 | SHEL | Shell Plc-adr | Stock-Energy | 0.49% | +0.36% | +388.91% | |
| 29 | SE | Sea Ltd-adr | Stock-Comm Services | 0.47% | -0.02% | -9.98% | |
| 30 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 0.47% | -0.03% | +2.82% | |
| 31 | NUE | Nucor CORP | Stock-Materials | 0.47% | — | -16.99% | |
| 32 | PCAR | Paccar Inc | Stock-Industrials | 0.47% | +0.07% | +21.75% | |
| 33 | WDC | Western Digital CORP | Stock-Tech | 0.45% | +0.15% | -30.77% | |
| 34 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.45% | +0.03% | -1.09% | |
| 35 | CSX | Csx CORP | Stock-Industrials | 0.43% | -0.01% | -6.12% | |
| 36 | PBR | Petroleo Brasileiro-spon Adr | Stock-Energy | 0.43% | +0.32% | +466.87% | |
| 37 | AAPL | Apple Inc | Stock-Tech | 0.43% | -0.21% | -35.34% | |
| 38 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.43% | +0.14% | +22.89% | |
| 39 | PCG | P G & E CORP | Stock-Utilities | 0.41% | +0.41% | +24078.85% | |
| 40 | KLAC | Kla CORP | Stock-Tech | 0.41% | -0.30% | +201.88% | |
| 41 | FIX | Comfort Systems USA Inc | Stock-Industrials | 0.39% | -0.14% | -43.90% | |
| 42 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 0.39% | +0.16% | +28.40% | |
| 43 | WFC | Wells Fargo & Co | Stock-Financials | 0.39% | +0.06% | +21.57% | |
| 44 | EIX | Edison International | Stock-Utilities | 0.38% | +0.33% | +777.10% | |
| 45 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-Other | 0.37% | -0.01% | -17.88% | |
| 46 | MPC | Marathon Petroleum CORP | Stock-Energy | 0.37% | +0.29% | +351.88% | |
| 47 | STLD | Steel Dynamics Inc | Stock-Materials | 0.36% | +0.01% | -13.60% | |
| 48 | ES | Eversource Energy | Stock-Utilities | 0.35% | +0.35% | NEW | |
| 49 | TEL | TE Connectivity plc | Stock-Tech | 0.35% | +0.04% | +26.93% | |
| 50 | ADI | Analog Devices Inc | Stock-Tech | 0.33% | +0.25% | +268.98% |
1–50 of 200
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
-0.9%
Performance Last 4 Quarters
+21.7%
- Stdev
- +13.8%
- Beta
- +0.97
- Alpha
- -0.8%
- Max Drawdown
- -7.1%
- Annualized Perf
- +19.2%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +2.69
- Stutzer
- +0.4
- Treynor
- +0.19
- Sterling
- +1.23
- Calmar
- +2.7
- Information Ratio
- -0.24
- Tracking Error
- +5.7%
- Stdev Down
- +6.9%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +36.5%
- Worst 12 Months
- +4.2%
- Efficiency Ratio
- +0.56
- Sharpe
- +1.35
- Stdev Sectors
- +7.7%
- Skewness
- +0.11
- Kurtosis
- +0.1
- Upside Potential
- +4.35
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 997 | $24.4B | 53 | ||
| 2026 Q1 | 993 | $22.4B | 64 | ||
| 2025 Q4 | 1040 | $27.4B | 42 | ||
| 2025 Q3 | 1014 | $25.5B | 74 | ||
| 2025 Q2 | 585 | $24.8B | 0 | ||
| 2025 Q1 | 664 | $21.6B | 100 | ||
| 2024 Q4 | 691 | $21.8B | 0 | ||
| 2024 Q3 | 773 | $17.7B | 0 | ||
| 2024 Q2 | 877 | $19.2B | 0 | ||
| 2024 Q1 | 677 | $19.8B | 0 | ||
| 2023 Q4 | 742 | $17.9B | 0 | ||
| 2023 Q3 | 740 | $16.5B | 0 | ||
| 2023 Q2 | 696 | $16.2B | 0 | ||
| 2023 Q1 | 710 | $16.4B | 0 | ||
| 2022 Q4 | 820 | $18.3B | 0 | ||
| 2022 Q3 | 866 | $19.8B | 0 | ||
| 2022 Q2 | 985 | $23.6B | 0 | ||
| 2022 Q1 | 968 | $24.8B | 0 | ||
| 2021 Q4 | 731 | $17.2B | 0 | ||
| 2021 Q3 | 683 | $18.3B | 0 | ||
| 2021 Q2 | 704 | $15.6B | 84 | ||
| 2021 Q1 | 455 | $11.3B | 43 | ||
| 2020 Q4 | 525 | $11.6B | 48 | ||
| 2020 Q3 | 430 | $8.3B | 53 | ||
| 2020 Q2 | 383 | $6.0B | 72 | ||
| 2020 Q1 | 399 | $5.0B | 72 | ||
| 2019 Q4 | 471 | $9.8B | 41 | ||
| 2019 Q3 | 333 | $11.4B | 31 | ||
| 2019 Q2 | 305 | $12.8B | 44 | ||
| 2019 Q1 | 303 | $16.3B | 66 | ||
| 2018 Q4 | 472 | $10.9B | 38 | ||
| 2018 Q3 | 354 | $9.7B | 16 | ||
| 2018 Q2 | 460 | $10.0B | 100 | ||
| 2018 Q1 | 457 | $10.5B | 0 | ||
| 2017 Q4 | 246 | $12.2B | 30 | ||
| 2017 Q3 | 286 | $14.9B | 40 | ||
| 2017 Q2 | 343 | $10.9B | 34 | ||
| 2017 Q1 | 236 | $8.8B | 30 | ||
| 2016 Q4 | 267 | $10.5B | 22 | ||
| 2016 Q3 | 299 | $10.2B | 39 | ||
| 2016 Q2 | 340 | $8.0B | 19 | ||
| 2016 Q1 | 253 | $7.9B | 22 | ||
| 2015 Q4 | 263 | $7.7B | 24 | ||
| 2015 Q3 | 430 | $7.5B | 58 | ||
| 2015 Q2 | 306 | $10.8B | 26 | ||
| 2015 Q1 | 328 | $12.8B | 12 | ||
| 2014 Q4 | 335 | $12.5B | 12 | ||
| 2014 Q3 | 363 | $12.8B | 11 | ||
| 2014 Q2 | 303 | $13.3B | 16 | ||
| 2014 Q1 | 339 | $12.2B | 13 | ||
| 2013 Q4 | 293 | $12.5B | 12 | ||
| 2013 Q3 | 311 | $11.9B | 14 | ||
| 2013 Q2 | 323 | $11.4B | 0 |
Holding changes this quarter
Bridgewater Associates, LP's most significant position changes for 2026-06-30: New buy: Eversource Energy (ES); New buy: Applovin Corp-class A (APP); New buy: Consolidated Edison Inc (ED); New buy: Nisource Inc (NI); Sold out: Cisco Systems Inc (CSCO).
Showing top 200 changes by size (of 1207 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +3.6% | +21.89% | Add |
| 2 | IVV | Ishares Core S&p 500 ETF | +1.4% | +12.06% | Add |
| 3 | VOO | Vanguard S&p 500 ETF | +0.9% | +188.97% | Add |
| 4 | PCG | P G & E CORP | +0.4% | +24078.85% | Add |
| 5 | SHEL | Shell Plc-adr | +0.4% | +388.91% | Add |
| 6 | ES | Eversource Energy | +0.4% | NEW | New buy |
| 7 | EIX | Edison International | +0.3% | +777.10% | Add |
| 8 | PBR | Petroleo Brasileiro-spon Adr | +0.3% | +466.87% | Add |
| 9 | APP | Applovin Corp-class A | +0.3% | NEW | New buy |
| 10 | MPC | Marathon Petroleum CORP | +0.3% | +351.88% | Add |
| 11 | ED | Consolidated Edison Inc | +0.3% | NEW | New buy |
| 12 | EOG | Eog Resources Inc | +0.3% | +4190.72% | Add |
| 13 | NI | Nisource Inc | +0.3% | NEW | New buy |
| 14 | VST | Vistra CORP | +0.3% | +115.69% | Add |
| 15 | NOW | Servicenow Inc | +0.3% | NEW | New buy |
| 16 | ADI | Analog Devices Inc | +0.3% | +268.98% | Add |
| 17 | DUK | Duke Energy CORP | +0.2% | NEW | New buy |
| 18 | HAL | Halliburton Co | +0.2% | +5441.45% | Add |
| 19 | STX | Seagate Technology Holdings plc | +0.2% | -39.29% | Trim |
| 20 | NTNX | Nutanix Inc - A | +0.2% | NEW | New buy |
| 21 | FTI | TechnipFMC plc | +0.2% | +294.68% | Add |
| 22 | APA | Apa CORP | +0.2% | NEW | New buy |
| 23 | AR | Antero Resources CORP | +0.2% | +793.41% | Add |
| 24 | EWY | Ishares Msci South Korea ETF | +0.2% | -21.60% | Trim |
| 25 | LRCX | Lam Research CORP | +0.2% | -40.29% | Trim |
| 26 | EXE | Expand Energy CORP | +0.2% | NEW | New buy |
| 27 | NXPI | NXP Semiconductors N.V. | +0.2% | +28.40% | Add |
| 28 | WDC | Western Digital CORP | +0.2% | -30.77% | Trim |
| 29 | VLO | Valero Energy CORP | +0.2% | +112.69% | Add |
| 30 | PPL | Ppl CORP | +0.2% | +245.11% | Add |
| 31 | ZBRA | Zebra Technologies Corp-cl A | +0.2% | +947.76% | Add |
| 32 | RIG | Transocean Ltd. | +0.2% | +1803.01% | Add |
| 33 | DLTR | Dollar Tree Inc | +0.2% | +1225.06% | Add |
| 34 | LLY | Eli Lilly & Co | +0.1% | +22.89% | Add |
| 35 | RDDT | Reddit Inc-cl A | +0.1% | +274.13% | Add |
| 36 | LII | Lennox International Inc | +0.1% | +1169.66% | Add |
| 37 | RBC | RBC Bearings Inc | +0.1% | +807.73% | Add |
| 38 | NOV | Nov Inc | +0.1% | +964.32% | Add |
| 39 | VMC | Vulcan Materials Co | +0.1% | NEW | New buy |
| 40 | TPR | Tapestry Inc | +0.1% | +68.39% | Add |
| 41 | OVV | Ovintiv Inc | +0.1% | +181.46% | Add |
| 42 | TOST | Toast Inc-class A | +0.1% | +323.73% | Add |
| 43 | ABNB | Airbnb Inc-class A | +0.1% | +776.53% | Add |
| 44 | DVN | Devon Energy CORP | +0.1% | NEW | New buy |
| 45 | TS | Tenaris Sa-adr | +0.1% | +1884.71% | Add |
| 46 | XOM | Exxon Mobil CORP | +0.1% | NEW | New buy |
| 47 | COF | Capital One Financial CORP | +0.1% | NEW | New buy |
| 48 | AMD | Advanced Micro Devices | +0.1% | -58.34% | Trim |
| 49 | PR | Permian Resources Corp-cl A | +0.1% | NEW | New buy |
| 50 | RRX | Regal Rexnord CORP | +0.1% | +3100.52% | Add |
1–50 of 200
Filing History
FAQ
What is Bridgewater Associates, LP and what type of investor is it?
Bridgewater Associates, LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $24.4B, spread across 997 disclosed positions.
What are Bridgewater Associates, LP's largest equity positions?
Based on the latest 13F filing, Bridgewater Associates, LP's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $4.0B (16.3%)
2. Ishares Core S&p 500 ETF (IVV) — $2.2B (9.2%)
3. Nvidia CORP (NVDA) — $773.6M (3.2%)
4. Broadcom Inc (AVGO) — $497.8M (2.0%)
5. Amazon.com Inc (AMZN) — $482.8M (2.0%)
What changes did Bridgewater Associates, LP make in its most recent portfolio filing?
In the latest reported quarter, Bridgewater Associates, LP made 200 notable position adjustments: 31 new positions were initiated, 91 existing holdings were added to, 65 positions were partially reduced, and 13 were completely exited. The largest of these moves: New buy: Eversource Energy (ES); New buy: Applovin Corp-class A (APP); New buy: Consolidated Edison Inc (ED); New buy: Nisource Inc (NI); Sold out: Cisco Systems Inc (CSCO)
What sectors does Bridgewater Associates, LP focus on?
Bridgewater Associates, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 31.7%
• Industrials: 11.0%
• Health Care: 9.6%
• Financials: 9.6%
• Energy: 8.8%
• Consumer Discretionary: 7.6%
Investment Profile
Bridgewater Associates, LP returned an annualized 19.2% over the trailing 36 months — underperforming the S&P 500 by 0.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.97 (roughly in line with the market) and a 58% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 31.7% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 53 over the past 4 quarters — a shift toward more active trading.
It has added to its VOO position over the past two quarters (+$291.9M, now $314.8M), while trimming GEV over the same stretch (-$291.0M, still holding $144.2M).
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Developer Access
Access Bridgewater Associates, LP's institutional profile programmatically:
REST API
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npx alphasmo institutions get bridgewater-associates-lp