Bridgewater Associates 13F, Q1 2025
Ray Dalio · quarter ending 31 March 2025 · filed 14 May 2025 · SEC CIK 1350694
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2025
The 25 largest of 664 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2024 filing.
| Company | Ticker | Value | % of book | vs Q4 2024 |
|---|---|---|---|---|
| SPDR S&P 500 ETF TR | SPY | $1.87B | 8.7% | -59% shares |
| ISHARES TR | IVV | $1.22B | 5.7% | +7% shares |
| ISHARES INC | IEMG | $1.02B | 4.8% | +7% shares |
| ALIBABA GROUP HLDG LTD | BABA | $748.46M | 3.5% | +2120% shares |
| ALPHABET INC | GOOGL | $470.47M | 2.2% | -16% shares |
| SPDR GOLD TR | GLD | $318.80M | 1.5% | new |
| BOOKING HOLDINGS INC | BKNG | $308.97M | 1.4% | +112% shares |
| NVIDIA CORPORATION | NVDA | $308.01M | 1.4% | -19% shares |
| MICROSOFT CORP | MSFT | $303.85M | 1.4% | +21% shares |
| SALESFORCE INC | CRM | $279.60M | 1.3% | +107% shares |
| FISERV INC | FISV | $256.90M | 1.2% | +79% shares |
| AMAZON COM INC | AMZN | $251.80M | 1.2% | +44% shares |
| META PLATFORMS INC | META | $245.31M | 1.1% | -32% shares |
| WELLS FARGO CO NEW | WFC | $245.27M | 1.1% | +77% shares |
| VISA INC | V | $243.96M | 1.1% | +14% shares |
| PAYPAL HLDGS INC | PYPL | $234.60M | 1.1% | +52% shares |
| ADOBE INC | ADBE | $223.72M | 1.0% | +147% shares |
| ADVANCED MICRO DEVICES INC | AMD | $222.34M | 1.0% | +20% shares |
| APPLE INC | AAPL | $208.90M | 1.0% | +52% shares |
| PDD HOLDINGS INC | PDD | $206.25M | 1.0% | +40% shares |
| ALTRIA GROUP INC | MO | $198.90M | 0.9% | +24% shares |
| BAIDU INC | BIDU | $191.08M | 0.9% | +956% shares |
| VISTRA CORP | VST | $190.99M | 0.9% | -8% shares |
| FORTINET INC | FTNT | $190.46M | 0.9% | +112% shares |
| CONSTELLATION ENERGY CORP | CEG | $189.87M | 0.9% | unchanged |
What changed since Q4 2024
Against the Q4 2024 filing, Bridgewater Associates opened 123 new positions, added to 277, trimmed 244, left 20 unchanged and exited 150. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 115 more
Exited
- ONwas $42.67M
- MRNAwas $25.19M
- LYFTwas $23.57M
- CHWYwas $21.79M
- BSYwas $21.50M
- Swas $19.43M
- PLNTwas $17.30M
- KEXwas $15.73M
and 142 more
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-25-001828, filed by Bridgewater Associates, LP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.