Bridgewater Associates Portfolio holdings
Bridgewater Associates, founded in 1975 by Ray Dalio in New York and now headquartered in Westport, Connecticut, is the world’s largest hedge fund, managing over $125 billion in assets as of late 2024, serving institutional clients like pension funds, endowments, and sovereign wealth funds. Known for its pioneering "Pure Alpha" and "All Weather" strategies, the firm uses a systematic, macroeconomic approach to deliver uncorrelated returns and risk parity across global markets, including equities, bonds, currencies, and commodities, guided by rigorous data analysis and radical transparency. Dalio, who stepped down as co-CIO in 2022, built a unique culture of "radical truth" and "thoughtful disagreement," documented in his book *Principles*, though the firm transitioned leadership to co-CEOs Nir Bar Dea and Mark Bertolini in 2023 amid succession planning. With around 1,300 employees and a history of navigating crises like 2008 with gains, Bridgewater remains a titan in alternative investments, blending intellectual rigor with a distinctive, often polarizing management philosophy.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$552M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$419M |
| 3 |
Microsoft
MSFT
|
+$393M |
| 4 |
Johnson & Johnson
JNJ
|
+$305M |
| 5 |
Uber
UBER
|
+$259M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$748M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$418M |
| 3 |
Constellation Energy
CEG
|
+$211M |
| 4 |
Pinduoduo
PDD
|
+$206M |
| 5 |
Baidu
BIDU
|
+$191M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.87% |
| 2 | Miscellaneous | 19.81% |
| 3 | Communication Services | 11.52% |
| 4 | Financials | 9.89% |
| 5 | Healthcare | 8.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
NorthWestern Energy
NWE
$4.36B
| $13M | 0.05% |
252,753
+156,865
| +164% | +$8.67M |
|
|
DOCU
227
DocuSign
DOCU
$12.1B
| $12.8M | 0.05% |
164,176
+101,612
| +162% | +$8.22M |
|
228
M/I Homes
MHO
$3.83B
| $12.7M | 0.05% |
113,644
+30,556
| +37% | +$3.32M |
|
229
BHP
BHP
$245B
| $12.6M | 0.05% |
262,747
+154,848
| +144% | +$7.44M |
|
230
PVH
PVH
$3.59B
| $12.6M | 0.05% |
183,318
+28,258
| +18% | +$2.05M |
|
231
BioMarin Pharmaceuticals
BMRN
$12.6B
| $12.5M | 0.05% |
227,746
+104,090
| +84% | +$6.13M |
|
232
Par Pacific Holdings
PARR
$3.75B
| $12.2M | 0.05% |
459,380
-72,096
| -14% | -$1.37M |
|
|
GTLS
233
DELISTED
Chart Industries
GTLS
| $12M | 0.05% |
72,646
-1,327
| -2% | -$195K |
|
234
Aecom
ACM
$8.43B
| $11.8M | 0.05% |
104,805
+100,742
| +2,479% | +$10.5M |
|
235
McDonald's
MCD
$186B
| $11.8M | 0.05% |
40,448
-13,468
| -25% | -$4.15M |
|
236
SEI Investments
SEIC
$13.4B
| $11.6M | 0.05% |
129,587
-16,993
| -12% | -$1.37M |
|
237
Boyd Gaming
BYD
$5.79B
| $11.5M | 0.05% |
147,411
-20,911
| -12% | -$1.49M |
|
238
Nutrien
NTR
$34.6B
| $11.5M | 0.05% |
+197,809
| New | +$11.2M |
|
239
Curtiss-Wright
CW
$22.5B
| $11.2M | 0.05% |
22,963
+1,640
| +8% | +$647K |
|
240
Axsome Therapeutics
AXSM
$10.7B
| $11.2M | 0.05% |
107,292
+64,467
| +151% | +$6.83M |
|
241
Vertiv
VRT
$102B
| $11M | 0.04% |
86,016
-824,340
| -91% | -$80.2M |
|
242
Fidelity National Information Services
FIS
$21B
| $10.9M | 0.04% |
133,867
-115,922
| -46% | -$9.02M |
|
|
WBS
243
DELISTED
Webster Financial
WBS
| $10.9M | 0.04% |
+199,129
| New | +$9.93M |
|
244
Woodward
WWD
$20.4B
| $10.6M | 0.04% |
43,441
-7,345
| -14% | -$1.5M |
|
|
SNCY
245
DELISTED
Sun Country Airlines
SNCY
| $10.5M | 0.04% |
894,992
+761,425
| +570% | +$8.37M |
|
246
Assured Guaranty
AGO
$3.34B
| $10.5M | 0.04% |
120,652
+40,787
| +51% | +$3.47M |
|
247
CNO Financial Group
CNO
$5.14B
| $10.4M | 0.04% |
269,864
-2,319
| -0.9% | -$88.4K |
|
248
Texas Capital Bancshares
TCBI
$4.25B
| $10.3M | 0.04% |
+130,167
| New | +$9.33M |
|
249
Yelp
YELP
$1.23B
| $10.3M | 0.04% |
299,216
+42,409
| +17% | +$1.53M |
|
250
PepsiCo
PEP
$193B
| $10.2M | 0.04% |
77,610
-24,453
| -24% | -$3.29M |
|
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Bridgewater Associates's Q2 2025 Portfolio in Review
As of Q2 2025, Bridgewater Associates held 749 positions worth $24.8B, up 15% from $21.6B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bridgewater Associates's Q2 2025 filing shows 85 new, 206 increased, 287 reduced and 164 closed positions. Its largest new stake was Arm: 473,725 shares worth $76.6M. The largest sale was Alibaba, an estimated $748M.
By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 19% a quarter earlier, followed by Miscellaneous and Communication Services.
- Bridgewater Associates's largest Q2 2025 buy was Arm: 473,725 shares worth $76.6M.
- Bridgewater Associates added most to NVIDIA in Q2 2025, an estimated $552M increase.
- Bridgewater Associates's biggest Q2 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $418M.
- Bridgewater Associates fully exited Alibaba in Q2 2025, selling an estimated $748M.
- Bridgewater Associates's ten largest holdings make up 36% of its $24.8B portfolio in Q2 2025.
- Bridgewater Associates opened 85 new positions and closed 164 in Q2 2025.
- Bridgewater Associates's portfolio value rose 15% quarter-over-quarter to $24.8B.
Based on Bridgewater Associates's 13F filing for Q2 2025, filed 13 Aug 2025.