Bridgewater Associates 13F, Q2 2025
Ray Dalio · quarter ending 30 June 2025 · filed 13 August 2025 · SEC CIK 1350694
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
The 25 largest of 585 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| SPDR S&P 500 ETF TR | SPY | $1.61B | 6.5% | -22% shares |
| ISHARES TR | IVV | $1.43B | 5.8% | +6% shares |
| NVIDIA CORPORATION | NVDA | $1.14B | 4.6% | +154% shares |
| ISHARES INC | IEMG | $1.03B | 4.2% | -9% shares |
| ALPHABET INC | GOOGL | $986.96M | 4.0% | +84% shares |
| MICROSOFT CORP | MSFT | $853.09M | 3.4% | +112% shares |
| META PLATFORMS INC | META | $595.69M | 2.4% | +90% shares |
| SALESFORCE INC | CRM | $447.10M | 1.8% | +57% shares |
| BOOKING HOLDINGS INC | BKNG | $440.87M | 1.8% | +14% shares |
| GE VERNOVA INC | GEV | $411.82M | 1.7% | +25% shares |
| JOHNSON & JOHNSON | JNJ | $348.66M | 1.4% | +668% shares |
| UBER TECHNOLOGIES INC | UBER | $348.36M | 1.4% | +531% shares |
| SPDR GOLD TR | GLD | $337.26M | 1.4% | unchanged |
| FORTINET INC | FTNT | $335.57M | 1.4% | +60% shares |
| BROADCOM INC | AVGO | $317.83M | 1.3% | +23% shares |
| PALO ALTO NETWORKS INC | PANW | $313.77M | 1.3% | +81% shares |
| COMCAST CORP NEW | CMCSA | $310.79M | 1.3% | +71% shares |
| WELLS FARGO CO NEW | WFC | $284.33M | 1.1% | +4% shares |
| ADOBE INC | ADBE | $282.23M | 1.1% | +25% shares |
| AMAZON COM INC | AMZN | $272.90M | 1.1% | -6% shares |
| ADVANCED MICRO DEVICES INC | AMD | $249.07M | 1.0% | -19% shares |
| PAYPAL HLDGS INC | PYPL | $233.93M | 0.9% | -13% shares |
| VISA INC | V | $228.76M | 0.9% | -7% shares |
| ALTRIA GROUP INC | MO | $221.09M | 0.9% | +14% shares |
| SPOTIFY TECHNOLOGY S A | $217.85M | 0.9% | +497% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Bridgewater Associates opened 86 new positions, added to 203, trimmed 278, left 18 unchanged and exited 165. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 78 more
Exited
- BABAwas $748.46M
- PDDwas $206.25M
- BIDUwas $191.08M
- JDwas $114.59M
- CVXwas $80.81M
- DALwas $69.89M
- TCOMwas $56.07M
- GSwas $51.94M
and 157 more
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-25-003151, 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.