Bridgewater Associates 13F, Q4 2025
Ray Dalio · quarter ending 31 December 2025 · filed 13 February 2026 · SEC CIK 1350694
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 1,040 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| SPDR S&P 500 ETF TR | SPY | $3.04B | 11.1% | +74% shares |
| ISHARES TR | IVV | $2.87B | 10.4% | +3% shares |
| NVIDIA CORPORATION | NVDA | $720.86M | 2.6% | +54% shares |
| LAM RESEARCH CORP | LRCX | $520.67M | 1.9% | -12% shares |
| SALESFORCE INC | CRM | $511.82M | 1.9% | -4% shares |
| ALPHABET INC | GOOGL | $497.93M | 1.8% | -40% shares |
| MICROSOFT CORP | MSFT | $475.93M | 1.7% | -10% shares |
| AMAZON COM INC | AMZN | $449.70M | 1.6% | +73% shares |
| ADOBE INC | ADBE | $446.26M | 1.6% | unchanged |
| GE VERNOVA INC | GEV | $435.28M | 1.6% | +2% shares |
| BOOKING HOLDINGS INC | BKNG | $431.25M | 1.6% | +4% shares |
| BROADCOM INC | AVGO | $403.46M | 1.5% | +38% shares |
| ORACLE CORP | ORCL | $365.16M | 1.3% | +361% shares |
| ADVANCED MICRO DEVICES INC | AMD | $354.76M | 1.3% | -8% shares |
| JOHNSON & JOHNSON | JNJ | $271.92M | 1.0% | -23% shares |
| MICRON TECHNOLOGY INC | MU | $253.91M | 0.9% | +52355% shares |
| MASTERCARD INCORPORATED | MA | $233.61M | 0.8% | +12% shares |
| NEWMONT CORP | NEM | $230.54M | 0.8% | +496% shares |
| WORKDAY INC | WDAY | $207.29M | 0.8% | -7% shares |
| SERVICENOW INC | NOW | $205.10M | 0.8% | +343% shares |
| ISHARES INC | EWY | $201.47M | 0.7% | unchanged |
| SEA LTD | SE | $195.60M | 0.7% | -5% shares |
| PAYPAL HLDGS INC | PYPL | $194.37M | 0.7% | +18% shares |
| ALTRIA GROUP INC | MO | $188.94M | 0.7% | -11% shares |
| VISA INC | V | $188.15M | 0.7% | -21% shares |
What changed since Q3 2025
Against the Q3 2025 filing, Bridgewater Associates opened 191 new positions, added to 436, trimmed 378, left 35 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 183 more
Exited
- FISVwas $205.41M
- CRWVwas $37.03M
- AZNNwas $35.51M
- DKNGwas $31.88M
- CCJwas $24.66M
- PANWwas $18.14M
- ELVwas $17.84M
- RSGwas $14.47M
and 157 more
Other quarters
Source: SEC Form 13F-HR, accession 0001350694-26-000001, 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.