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 | Financials | 11.06% |
| 3 | Consumer Discretionary | 8.45% |
| 4 | Healthcare | 6.54% |
| 5 | Industrials | 6.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1151
Pan American Silver
PAAS
$22.3B
| – | – |
-6,253
| Closed | -$242K |
|
1152
Palo Alto Networks
PANW
$307B
| – | – |
-89,094
| Closed | -$18.1M |
|
1153
Paychex
PAYX
$44.8B
| – | – |
-15,102
| Closed | -$1.91M |
|
1154
Prestige Consumer Healthcare
PBH
$2.44B
| – | – |
-9,657
| Closed | -$603K |
|
1155
Vaxcyte
PCVX
$8.93B
| – | – |
-11,855
| Closed | -$427K |
|
1156
Progressive
PGR
$127B
| – | – |
-42,709
| Closed | -$10.5M |
|
1157
Progyny
PGNY
$2B
| – | – |
-65,643
| Closed | -$1.41M |
|
1158
Impinj
PI
$4.96B
| – | – |
-4,339
| Closed | -$784K |
|
1159
Royal Caribbean
RCL
$77.2B
| – | – |
-25,050
| Closed | -$8.11M |
|
1160
RLI Corp
RLI
$5.89B
| – | – |
-20,541
| Closed | -$1.34M |
|
1161
Republic Services
RSG
$67.2B
| – | – |
-63,062
| Closed | -$14.5M |
|
1162
Ryan Specialty Holdings
RYAN
$11B
| – | – |
-10,877
| Closed | -$613K |
|
1163
Rayonier
RYN
$6.15B
| – | – |
-39,779
| Closed | -$1.01M |
|
|
SAND
1164
DELISTED
Sandstorm Gold
SAND
| – | – |
-241,451
| Closed | -$3.02M |
|
|
SCS
1165
DELISTED
Steelcase
SCS
| – | – |
-102,112
| Closed | -$1.76M |
|
1166
Silgan Holdings
SLGN
$4.5B
| – | – |
-34,378
| Closed | -$1.48M |
|
1167
Super Micro Computer
SMCI
$24.8B
| – | – |
-83,464
| Closed | -$4M |
|
1168
Sphere Entertainment
SPHR
$5.67B
| – | – |
-69,359
| Closed | -$4.31M |
|
1169
Spire
SR
$4.91B
| – | – |
-19,007
| Closed | -$1.55M |
|
1170
SS&C Technologies
SSNC
$19.7B
| – | – |
-29,174
| Closed | -$2.59M |
|
1171
Stantec
STN
$8.45B
| – | – |
-3,678
| Closed | -$397K |
|
1172
Skyworks Solutions
SWKS
$9.98B
| – | – |
-18,265
| Closed | -$1.41M |
|
1173
AT&T
T
$174B
| – | – |
-37,777
| Closed | -$1.07M |
|
1174
Teledyne Technologies
TDY
$29.1B
| – | – |
-5,399
| Closed | -$3.16M |
|
1175
Bio-Techne
TECH
$11.4B
| – | – |
-41,146
| Closed | -$2.29M |
|
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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 Financials and Consumer Discretionary.
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.