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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.28B |
| 2 |
Oracle
ORCL
|
+$349M |
| 3 |
NVIDIA
NVDA
|
+$252M |
| 4 |
Micron Technology
MU
|
+$204M |
| 5 |
Amazon
AMZN
|
+$188M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$304M |
| 2 |
Uber
UBER
|
+$208M |
| 3 |
FISV
Fiserv Inc
FISV
|
+$205M |
| 4 |
Meta Platforms (Facebook)
META
|
+$129M |
| 5 |
Wells Fargo
WFC
|
+$121M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.43% |
| 2 | Miscellaneous | 24.29% |
| 3 | Financials | 11.06% |
| 4 | Consumer Discretionary | 8.45% |
| 5 | Healthcare | 6.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
Itron
ITRI
$4.36B
| $599K | ﹤0.01% |
6,455
-17,087
| -73% | -$1.86M |
|
952
Lazard
LAZ
$4.2B
| $598K | ﹤0.01% |
12,307
-6,059
| -33% | -$302K |
|
953
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
| $591K | ﹤0.01% |
7,334
| – | – |
|
954
Microchip Technology
MCHP
$40.7B
| $590K | ﹤0.01% |
+9,260
| New | +$571K |
|
955
NextEra Energy
NEE
$174B
| $586K | ﹤0.01% |
+7,297
| New | +$604K |
|
956
lululemon athletica
LULU
$13.3B
| $586K | ﹤0.01% |
2,818
-16,341
| -85% | -$2.96M |
|
957
Donaldson
DCI
$10.7B
| $581K | ﹤0.01% |
6,558
-31,390
| -83% | -$2.73M |
|
958
Henry Schein
HSIC
$10.1B
| $560K | ﹤0.01% |
7,413
+3,944
| +114% | +$278K |
|
959
MSCI
MSCI
$41.3B
| $557K | ﹤0.01% |
+971
| New | +$545K |
|
960
Dominion Energy
D
$58.4B
| $553K | ﹤0.01% |
9,441
-8,336
| -47% | -$502K |
|
961
D.R. Horton
DHI
$40.7B
| $549K | ﹤0.01% |
3,812
+2,185
| +134% | +$333K |
|
962
Eagle Materials
EXP
$6.09B
| $549K | ﹤0.01% |
2,655
-3,875
| -59% | -$855K |
|
|
SEE
963
DELISTED
Sealed Air
SEE
| $547K | ﹤0.01% |
13,207
-96,974
| -88% | -$3.75M |
|
964
Brown-Forman Class B
BF.B
$12.7B
| $546K | ﹤0.01% |
20,940
+379
| +2% | +$10.7K |
|
|
AMTM
965
Amentum Holdings
AMTM
$5.01B
| $529K | ﹤0.01% |
+18,251
| New | +$467K |
|
966
John Wiley & Sons Class A
WLY
$2.74B
| $520K | ﹤0.01% |
+16,982
| New | +$598K |
|
967
Packaging Corp of America
PKG
$21.7B
| $519K | ﹤0.01% |
2,516
-721
| -22% | -$147K |
|
968
Shoals Technologies Group
SHLS
$1.25B
| $515K | ﹤0.01% |
+60,588
| New | +$544K |
|
969
Cooper Companies
COO
$13.9B
| $513K | ﹤0.01% |
6,256
-603
| -9% | -$45.1K |
|
970
Equifax
EFX
$22.6B
| $510K | ﹤0.01% |
+2,351
| New | +$515K |
|
971
Conagra Brands
CAG
$7.7B
| $506K | ﹤0.01% |
29,226
-76,199
| -72% | -$1.35M |
|
972
Elanco Animal Health
ELAN
$12.3B
| $501K | ﹤0.01% |
+22,158
| New | +$482K |
|
973
Best Buy
BBY
$17.6B
| $499K | ﹤0.01% |
7,456
-6,983
| -48% | -$533K |
|
974
TFI International
TFII
$11.1B
| $493K | ﹤0.01% |
4,759
-2,745
| -37% | -$255K |
|
975
Tidewater
TDW
$4.57B
| $485K | ﹤0.01% |
9,601
-40,227
| -81% | -$2.12M |
|
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Bridgewater Associates's Q4 2025 Portfolio in Review
As of Q4 2025, Bridgewater Associates held 1,205 positions worth $27.4B, up 7.4% from $25.5B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bridgewater Associates deployed $1.36B of net new capital in Q4 2025, opening 191 new positions and adding to 450 existing holdings. Its largest new stake was Arm: 326,320 shares worth $35.7M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Miscellaneous and Financials.
On the sell side, the largest reduction was Alphabet (Google) Class A, an estimated $304M trimmed.
- Bridgewater Associates's largest Q4 2025 buy was Arm: 326,320 shares worth $35.7M.
- Bridgewater Associates added most to State Street SPDR S&P 500 ETF Trust in Q4 2025, an estimated $1.28B increase.
- Bridgewater Associates's biggest Q4 2025 reduction was Alphabet (Google) Class A, cutting an estimated $304M.
- Bridgewater Associates fully exited Fiserv Inc in Q4 2025, selling an estimated $205M.
- Bridgewater Associates's ten largest holdings make up 36% of its $27.4B portfolio in Q4 2025.
- Bridgewater Associates opened 191 new positions and closed 165 in Q4 2025.
- Bridgewater Associates's portfolio value rose 7.4% quarter-over-quarter to $27.4B.
Based on Bridgewater Associates's 13F filing for Q4 2025, filed 13 Feb 2026.