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 | Communication Services | 11.52% |
| 3 | Financials | 9.89% |
| 4 | Healthcare | 8.49% |
| 5 | Consumer Discretionary | 7.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
676
Eli Lilly
LLY
$1.05T
| – | – |
-2,746
| Closed | -$2.27M |
|
|
LNW
677
DELISTED
Light & Wonder
LNW
| – | – |
-6,011
| Closed | -$521K |
|
678
Louisiana-Pacific
LPX
$4.96B
| – | – |
-11,515
| Closed | -$1.06M |
|
679
Lumen
LUMN
$6.23B
| – | – |
-307,098
| Closed | -$1.2M |
|
680
Southwest Airlines
LUV
$19.7B
| – | – |
-853,062
| Closed | -$28.6M |
|
681
ManpowerGroup
MAN
$2.91B
| – | – |
-10,503
| Closed | -$608K |
|
682
iShares MSCI China ETF
MCHI
$6.21B
| – | – |
-511,947
| Closed | -$27.8M |
|
683
Moody's
MCO
$89.6B
| – | – |
-8,808
| Closed | -$4.1M |
|
684
Magnolia Oil & Gas
MGY
$6.19B
| – | – |
-17,424
| Closed | -$440K |
|
685
Mohawk Industries
MHK
$8.91B
| – | – |
-16,168
| Closed | -$1.85M |
|
686
Merit Medical Systems
MMSI
$5.34B
| – | – |
-2,440
| Closed | -$258K |
|
687
Monolithic Power Systems
MPWR
$64.4B
| – | – |
-3,276
| Closed | -$1.9M |
|
688
Minerals Technologies
MTX
$2.21B
| – | – |
-13,575
| Closed | -$863K |
|
689
nCino
NCNO
$2.37B
| – | – |
-61,285
| Closed | -$1.68M |
|
690
Nordson
NDSN
$18.7B
| – | – |
-1,097
| Closed | -$221K |
|
691
NIO
NIO
$10.8B
| – | – |
-1,749,081
| Closed | -$6.66M |
|
692
Northern Oil and Gas
NOG
$2.71B
| – | – |
-285,195
| Closed | -$8.62M |
|
693
Nucor
NUE
$57.2B
| – | – |
-112,647
| Closed | -$13.6M |
|
694
Nexstar Media Group
NXST
$5.6B
| – | – |
-39,363
| Closed | -$7.05M |
|
695
Realty Income
O
$58.5B
| – | – |
-3,687
| Closed | -$214K |
|
696
Otter Tail
OTTR
$3.84B
| – | – |
-2,526
| Closed | -$203K |
|
|
PARA
697
DELISTED
Paramount Global Class B
PARA
| – | – |
-599,772
| Closed | -$7.17M |
|
698
PG&E
PCG
$39.2B
| – | – |
-1,198,377
| Closed | -$20.6M |
|
|
699
Pinduoduo
PDD
$121B
| – | – |
-1,742,717
| Closed | -$206M |
|
700
Plexus
PLXS
$6.47B
| – | – |
-1,807
| Closed | -$232K |
|
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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 Communication Services and Financials.
- 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.