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 | 11.53% |
| 4 | Financials | 9.89% |
| 5 | Healthcare | 8.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Fiserv Inc
FISV
$25.3B
| $218M | 0.88% |
1,261,873
+98,525
| +8% | +$17.9M |
2021 Q3
15 quarters
|
|
27
Cigna
CI
$79.9B
| $204M | 0.82% |
616,626
+75,444
| +14% | +$24.3M |
2021 Q2
16 quarters
|
|
28
ServiceNow
NOW
$147B
| $201M | 0.81% |
977,870
-196,790
| -17% | -$37.1M |
2024 Q4
2 quarters
|
|
29
Charter Communications
CHTR
$12.6B
| $178M | 0.72% |
436,341
+221,796
| +103% | +$84.9M |
2024 Q2
4 quarters
|
|
30
DoorDash
DASH
$82B
| $177M | 0.71% |
718,082
-28,668
| -4% | -$5.75M |
2023 Q2
8 quarters
|
|
31
British American Tobacco
BTI
$129B
| $161M | 0.65% |
3,409,082
+174,926
| +5% | +$7.75M |
2024 Q3
3 quarters
|
|
32
Lam Research
LRCX
$330B
| $160M | 0.64% |
1,638,780
-321,457
| -16% | -$25.5M |
2022 Q1
13 quarters
|
|
33
Vistra
VST
$51B
| $158M | 0.64% |
817,614
-808,637
| -50% | -$120M |
2023 Q2
8 quarters
|
|
34
HCA Healthcare
HCA
$99.3B
| $156M | 0.63% |
406,706
-22,020
| -5% | -$7.93M |
2020 Q1
21 quarters
|
|
35
MetLife
MET
$64B
| $152M | 0.61% |
1,889,902
+101,299
| +6% | +$7.82M |
2022 Q1
13 quarters
|
|
36
Pinterest
PINS
$12.4B
| $147M | 0.59% |
4,091,277
+463,431
| +13% | +$14.1M |
2022 Q1
13 quarters
|
|
37
Expedia Group
EXPE
$34.7B
| $143M | 0.58% |
848,568
-49,235
| -5% | -$7.99M |
2022 Q1
13 quarters
|
|
38
AT&T
T
$161B
| $143M | 0.58% |
4,939,124
+2,158,510
| +78% | +$59.5M |
2023 Q2
8 quarters
|
|
39
eBay
EBAY
$53.5B
| $141M | 0.57% |
1,899,039
+566,592
| +43% | +$40.2M |
2023 Q1
9 quarters
|
|
40
Sea Limited
SE
$57.4B
| $140M | 0.56% |
872,932
+367,218
| +73% | +$53.2M |
2022 Q2
12 quarters
|
|
41
Citigroup
C
$208B
| $139M | 0.56% |
1,631,392
-380,366
| -19% | -$27.5M |
2022 Q4
10 quarters
|
|
42
iShares MBS ETF
MBB
$35.9B
| $137M | 0.55% |
1,460,200
+12,600
| +0.9% | +$1.17M |
2022 Q1
13 quarters
|
|
43
NRG Energy
NRG
$21.8B
| $131M | 0.53% |
817,082
+162,889
| +25% | +$21.5M |
2022 Q1
13 quarters
|
|
44
Cisco
CSCO
$423B
| $130M | 0.52% |
1,874,132
+1,622,309
| +644% | +$99.7M |
2020 Q4
18 quarters
|
|
45
Bristol-Myers Squibb
BMY
$122B
| $125M | 0.5% |
2,703,724
+362,486
| +15% | +$17.8M |
2021 Q1
17 quarters
|
|
46
Qualcomm
QCOM
$184B
| $122M | 0.49% |
763,746
-326,331
| -30% | -$48M |
2021 Q4
14 quarters
|
|
47
Block Inc
XYZ
$46.8B
| $118M | 0.48% |
1,736,983
-254,048
| -13% | -$14.8M |
2022 Q1
13 quarters
|
|
48
iShares MSCI South Korea ETF
EWY
$21.4B
| $117M | 0.47% |
1,627,624
+123,392
| +8% | +$7.4M |
2024 Q1
5 quarters
|
|
49
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.4B
| $113M | 0.46% |
1,035,300
+11,200
| +1% | +$1.2M |
2013 Q2
48 quarters
|
|
50
Emcor
EME
$31.8B
| $111M | 0.45% |
208,412
-11,251
| -5% | -$4.96M |
2024 Q2
4 quarters
|
|
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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.