Bridgewater Associates 13F, Q3 2025
Ray Dalio · quarter ending 30 September 2025 · filed 13 November 2025 · SEC CIK 1350694
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 1,014 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| ISHARES TR | IVV | $2.71B | 10.6% | +75% shares |
| SPDR S&P 500 ETF TR | SPY | $1.71B | 6.7% | unchanged |
| ALPHABET INC | GOOGL | $645.16M | 2.5% | -53% shares |
| MICROSOFT CORP | MSFT | $568.28M | 2.2% | -36% shares |
| SALESFORCE INC | CRM | $475.67M | 1.9% | +22% shares |
| NVIDIA CORPORATION | NVDA | $468.27M | 1.8% | -65% shares |
| LAM RESEARCH CORP | LRCX | $463.83M | 1.8% | +111% shares |
| ADOBE INC | ADBE | $445.42M | 1.7% | +73% shares |
| BOOKING HOLDINGS INC | BKNG | $419.69M | 1.6% | +2% shares |
| GE VERNOVA INC | GEV | $400.36M | 1.6% | -16% shares |
| UBER TECHNOLOGIES INC | UBER | $353.10M | 1.4% | -4% shares |
| JOHNSON & JOHNSON | JNJ | $318.14M | 1.3% | -25% shares |
| META PLATFORMS INC | META | $306.18M | 1.2% | -48% shares |
| ADVANCED MICRO DEVICES INC | AMD | $290.38M | 1.1% | +2% shares |
| SEA LTD | SE | $286.97M | 1.1% | +84% shares |
| BROADCOM INC | AVGO | $278.90M | 1.1% | -27% shares |
| SERVICENOW INC | NOW | $277.92M | 1.1% | +54% shares |
| WORKDAY INC | WDAY | $250.46M | 1.0% | +132% shares |
| AMAZON COM INC | AMZN | $247.01M | 1.0% | -10% shares |
| ALTRIA GROUP INC | MO | $244.13M | 1.0% | unchanged |
| VISA INC | V | $230.76M | 0.9% | +5% shares |
| COMCAST CORP NEW | CMCSA | $215.53M | 0.8% | -21% shares |
| WELLS FARGO CO NEW | WFC | $212.50M | 0.8% | -29% shares |
| MASTERCARD INCORPORATED | MA | $208.33M | 0.8% | +191% shares |
| FISERV INC | FISV | $205.41M | 0.8% | +26% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Bridgewater Associates opened 493 new positions, added to 316, trimmed 189, left 16 unchanged and exited 64. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- RDDT$141.95M
- HOOD$115.62M
- AMAT$94.90M
- APH$90.99M
- CREDO TECHNOLOGY GROUP HOLDI$51.37M
- ADSK$48.46M
- SCHW$46.14M
- UNP$46.00M
and 485 more
Exited
- GLDwas $337.26M
- SPOTIFY TECHNOLOGY S Awas $217.85M
- ARMwas $76.62M
- CEGwas $46.80M
- LYFTwas $39.07M
- CSGPwas $34.79M
- LENwas $26.41M
- PFEwas $24.55M
and 56 more
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-25-004777, 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.