There was a lot of movement in Bridgewater Associates’ portfolio in Q4 2025: none of the ten largest stock holdings of the hedge fund founded by Ray Dalio remained unchanged.
Institutional investors managing at least $100 million in assets are required by U.S. Securities and Exchange Commission regulations to disclose their investments quarterly by filing Form 13F. This regulation also affects the hedge fund Bridgewater Associates, which was founded by the renowned star investor Ray Dalio, because in the fourth quarter of 2025 the portfolio value of Bridgewater Associates was around 27.422 billion US dollars.
Although Wall Street great Ray Dalio has not been actively involved in running the hedge fund for some time now, he remains active in an advisory role and the name “Bridgewater” is likely to be associated with him for a long time to come.
The following ranking shows Bridgewater Associates’ ten largest shareholdings in the fourth quarter of 2025, all of which, without exception, were adjusted during the reporting period – and in some cases very significantly. In addition, Bridgewater also holds some ETFs, which were not taken into account here. The data is as of December 31, 2025.
11th place: The ranking
Investors with assets of $100 million or more are required by U.S. Securities and Exchange Commission (SEC) regulations to disclose their holdings on a quarterly basis. With a portfolio value of around $27.42 billion, Bridgewater Associates is one of the companies subject to this regulation. Bridgewater was founded by Wall Street great Ray Dalio, who also held senior positions at the hedge fund for many years. However, since 2017, the renowned star investor has increasingly withdrawn, and management now falls to Bridgewater Associates CEO Nir Bar Dea and co-CIOs Greg Jensen, Bob Prince and Karen Karniol-Tambour. Dalio is now focused on “mentoring employees at Bridgewater and beyond,” according to the hedge fund’s website. Below, Bridgewater Associates’ ten largest stock holdings in the fourth quarter of 2025 are presented, ranked by their percentage value in the portfolio. The data is as of December 31, 2025.
Source: sec.gov, Image: T. Schneider / Shutterstock.com
10th place: Broadcom
Broadcom landed in the top ten of the Bridgewater portfolio in the fourth quarter of 2025. The US hedge fund bought 320,349 new shares here, so that there were now a total of 1,165,740 shares from the tech group. With a value of around 403.46 million US dollars, this meant 1.47 percent of the total portfolio.
Source: sec.gov, Image: Ken Wolter / Shutterstock.com
9th place: Booking.com
At the end of December, Bridgewater Associates held 80,528 shares in the booking portal Booking.com, which were worth around $431.25 million as of the reporting date. Since the previous quarter, this position has been expanded slightly by a further 2,797 shares. At the end of the quarter, the Booking.com shareholding accounted for 1.57 percent of the entire portfolio, putting it in ninth place.
Source: sec.gov, Image: II.studio / Shutterstock.com
8th place: GE Vernova
Bridgewater owned 665,997 GE Vernova shares at the end of the fourth quarter of 2025. That was 2.29 percent or 14,905 shares more than in the previous quarter. The stake was worth about $435.28 million as of Dec. 31 and represented a 1.59 percent stake, making GE Vernova eighth among Bridgewater’s largest equity holdings.
Source: sec.gov, Image: T. Schneider / Shutterstock.com
7th place: Adobe
The software company Adobe landed in seventh place in the Bridgewater portfolio in the fourth quarter of 2025. The US hedge fund took action here during the reporting period and increased its holdings by 0.98 percent or 12,359 additional Adobe shares. In total, the portfolio at the end of the quarter contained 1,275,055 securities from the IT company, which had a total value of around 446.26 million US dollars at the end of December. This meant that Adobe had a share of 1.63 percent of the total portfolio.
Source: sec.gov, Image: Ken Wolter / Shutterstock.com
6th place: Amazon
The investment in US retail giant Amazon will land in the fund’s top ten in the fourth quarter of 2025. Here, Bridgewater increased the existing investment by 73.18 percent or 823,277 Amazon shares, so that there were now a total of 1,948,254 tech-sized stocks in the portfolio. With an equivalent value of around 449.70 million US dollars, this meant a portfolio share of 1.64 percent.
Source: sec.gov, Image: Ioan Panaite / Shutterstock.com
5th place: Microsoft
Still in second place in the previous quarter, the shareholding in Microsoft slipped to fifth place in the fourth quarter. Bridgewater sold 113,078 Microsoft shares between October and December, reducing his holdings by 10.31 percent. At the end of the quarter, a total of 984,091 shares of the Windows manufacturer were still in the portfolio of the hedge fund founded by Ray Dalio. They came to a total value of around 475.93 million US dollars, meaning that this investment accounted for 1.74 percent of the total portfolio value.
Source: sec.gov, Image: Volodymyr Kyrylyuk / Shutterstock.com
4th place: Alphabet A
In the previous quarter, this holding took first place, but now Alphabet’s A shares have slipped to fourth place. The US hedge fund reduced its stake in Google’s parent company by a whopping 1,063,070 shares or 40.06 percent in the reporting period. As of the reporting date, Bridgewater still owned a total of 1,590,826 Alphabet A shares with a total value of around $497.93 million. This meant they had a share of the total portfolio of 1.82 percent.
Source: finanzen.net, Image: Fenixx666 / Shutterstock.com
3rd place: Salesforce
Bridgewater Associates also adjusted its stake in Salesforce, the world’s leading provider of CRM software, in the fourth quarter of 2025: 74,961 Salesforce shares were removed from the portfolio, so that as of the reporting date it still contained 1,932,066 shares with a total value of around 511.82 million US dollars. Salesforce shares made up 1.87 percent of the portfolio, which was enough for third place in this ranking.
Source: finanzen.net, Image: Gil C / Shutterstock.com
2nd place: Lam Research
Lam Research ranked second among Bridgewater Associates’ largest stock positions in the quarter. The US hedge fund cashed in on the company in the areas of plant and mechanical engineering as well as electrical technology and threw 422,319 shares out of its portfolio. The stake in Lam Research fell by 12.19 percent to 3,041,661 shares, which had a value of around 520.67 million US dollars as of the reporting date. They therefore accounted for 1.9 percent of the overall portfolio.
Source: finanzen.net, Image: Michael Vi / Shutterstock.com
1st place: NVIDIA
Bridgewater Associates, on the other hand, took a strong approach to NVIDIA. The hedge fund increased its position in the AI giant by a whopping 54.01 percent or 1,355,454 shares in the fourth quarter of 2025. After the purchase, Bridgewater now owned 3,865,205 shares of the chip manufacturer as of December 31, which were collectively worth around $720.86 million. With a share of 2.63 percent of the total portfolio, NVIDIA reached first place.
Source: sec.gov, Image: michelmond / Shutterstock.com
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