Bridgewater Associates
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Ray Dalio's Bridgewater Associates reported 691 stock positions worth $21.8 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 22.1% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 5.5%) and iShares Core MSCI Emerging (IEMG, 4.2%). Compared with Q3 2024, it opened 83 new positions, sold out of 165, added to 262 and reduced 343. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +884%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −8%).
- Most Recent 13F
- Q2 2026
- Notable People
- Ray Dalio
- Location
- Westport, CT
- CIK
- 0001350694
- Portfolio Value
- $21.8B (Q4 2024)
- SEC Filing
- 0001172661-25-000823 ↗ filed Feb 13, 2025
Holdings Value
Holdings 691 stocks · $21.8B
| SPY SS SPDR S&P 500 ETF Trust-US | 22.12% | 8,232,049 | $4.8B | Add +883.6% |
| IVV iShares Core S&P 500 ETF | 5.50% | 2,039,343 | $1.2B | Reduce -8.3% |
| IEMG iShares Core MSCI Emerging | 4.23% | 17,659,209 | $922.2M | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 3.14% | 3,621,308 | $685.5M | Reduce -17.3% |
| NVDA Nvidia Corp. | 2.15% | 3,497,362 | $469.7M | Reduce -26.4% |
| META Meta Platforms Inc. Class A | 1.67% | 621,088 | $363.7M | Reduce -22.6% |
| MSFT Microsoft Corp. | 1.29% | 667,036 | $281.2M | Reduce -23.3% |
| VST Vistra Corp. | 1.12% | 1,773,499 | $244.5M | Add +58.9% |
| AMD Advanced Micro Devices | 1.00% | 1,797,655 | $217.1M | Add +22.8% |
| CEG Constellation Energy | 0.97% | 946,244 | $211.7M | Add +23.2% |
| AMZN Amazon.com Inc. | 0.93% | 919,786 | $201.8M | Reduce -34.8% |
| PYPL PayPal Holdings Inc. | 0.92% | 2,358,408 | $201.3M | Add +93.1% |
| V Visa Inc. Class A | 0.89% | 612,004 | $193.4M | Add +0.4% |
| MCK McKesson Corp. | 0.86% | 329,363 | $187.7M | Add +33.8% |
| LRCX Lam Research Corp. | 0.84% | 2,533,399 | $183.0M | Reduce -8.2% |
| CRM Salesforce Inc. | 0.77% | 502,427 | $168.0M | Add +85.8% |
| EWY iShares MSCI South Korea ETF | 0.74% | 3,154,717 | $160.5M | Add +63.7% |
| CI The Cigna Group | 0.73% | 579,482 | $160.0M | Add +78.9% |
| APP AppLovin Corp. Class A | 0.73% | 492,860 | $159.6M | Add +85.6% |
| EXPE Expedia Group Inc. | 0.73% | 854,262 | $159.2M | Add +73.4% |
| BKNG Booking Holdings Inc. | 0.72% | 31,609 | $157.0M | Add +3.5% |
| AAPL Apple Inc. | 0.71% | 617,203 | $154.6M | Reduce -40.2% |
| AVGO Broadcom Inc. | 0.70% | 657,290 | $152.4M | Reduce -31.2% |
| T AT&T Inc. | 0.68% | 6,478,108 | $147.5M | Add +402.3% |
| MRK Merck & Co. Inc. | 0.66% | 1,439,430 | $143.2M | Reduce -7.4% |
| HCA HCA Healthcare Inc. | 0.65% | 470,553 | $141.2M | Add +88.2% |
| MO Altria Group Inc. | 0.64% | 2,675,347 | $139.9M | Add +86.0% |
| QCOM Qualcomm Inc. | 0.63% | 900,629 | $138.4M | Add +13.0% |
| WFC Wells Fargo & Co. | 0.62% | 1,934,200 | $135.9M | Add +37.3% |
| FISV Fiserv Inc. | 0.61% | 649,901 | $133.5M | Add +20.4% |
| MBB iShares MBS ETF | 0.60% | 1,434,700 | $131.5M | Add +1.3% |
| PDD PDD Holdings Inc. | 0.55% | 1,246,898 | $120.9M | Reduce -0.4% |
| BMY Bristol-Myers Squibb Co. | 0.53% | 2,061,076 | $116.6M | Add +237.7% |
| CMCSA Comcast Corp. Class A | 0.52% | 2,999,578 | $112.6M | Add +115.4% |
| C Citigroup Inc. | 0.51% | 1,568,352 | $110.4M | Add +75.7% |
| EBAY eBay Inc. | 0.51% | 1,780,737 | $110.3M | Add +531.1% |
| NRG NRG Energy Inc. | 0.49% | 1,185,365 | $106.9M | Add +47.3% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.49% | 994,200 | $106.2M | Add +1.1% |
| ADBE Adobe Inc. | 0.48% | 235,756 | $104.8M | Add +424.4% |
| XYZ Block Inc. | 0.48% | 1,230,006 | $104.5M | Add +210.8% |
| PINS Pinterest Inc. Class A | 0.47% | 3,544,403 | $102.8M | Add +124.1% |
| GPN Global Payments Inc. | 0.46% | 892,958 | $100.1M | Add +88.6% |
| MET Metlife Inc. | 0.45% | 1,198,030 | $98.1M | Add +151.3% |
| VWO Vanguard Ftse Emerging Marke | 0.45% | 2,220,186 | $97.8M | Reduce -35.1% |
| BTI British American Tob-SP ADR | 0.45% | 2,681,379 | $97.4M | Add +261.7% |
| HPQ HP Inc. | 0.42% | 2,837,252 | $92.6M | Add +115.2% |
| HOOD Robinhood Markets Inc. Class A | 0.42% | 2,467,349 | $91.9M | Add +645.5% |
| FTNT Fortinet Inc. | 0.40% | 933,694 | $88.2M | Add +364.9% |
| TOST Toast Inc. Class A | 0.40% | 2,367,909 | $86.3M | Add +322.3% |
| PHM Pultegroup Inc. | 0.39% | 783,581 | $85.3M | Add +118.8% |
| GEV GE Vernova Inc. | 0.36% | 241,220 | $79.3M | Add +588.5% |
| JNJ Johnson & Johnson | 0.36% | 537,937 | $77.8M | Reduce -63.4% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.35% | 990,319 | $76.1M | Add +90.1% |
| GSK GSK PLC-Spon ADR | 0.35% | 2,247,691 | $76.0M | Add +132.7% |
| ANET Arista Networks Inc. | 0.34% | 673,054 | $74.4M | Add +20.5% |
| CNC Centene Corp. | 0.34% | 1,222,029 | $74.0M | Add +161.5% |
| PG The Procter & Gamble Co. | 0.34% | 439,606 | $73.7M | Reduce -72.5% |
| COST Costco Wholesale Corp. | 0.34% | 80,394 | $73.7M | Reduce -52.4% |
| ALL Allstate Corp. | 0.34% | 381,507 | $73.6M | Add +63.6% |
| KLAC KLA Corp. | 0.33% | 115,841 | $73.0M | Reduce -42.5% |
| WMT Walmart Inc. | 0.32% | 779,487 | $70.4M | Reduce -72.6% |
| AZO AutoZone Inc. | 0.32% | 21,885 | $70.1M | Add +6.5% |
| LLY Eli Lilly & Co. | 0.30% | 84,356 | $65.1M | Add +15.1% |
| SE Sea Ltd.-ADR | 0.29% | 597,039 | $63.3M | Add +100.1% |
| CSGP Costar Group Inc. | 0.29% | 879,915 | $63.0M | Add +108.0% |
| TSLA Tesla Inc. | 0.28% | 153,589 | $62.0M | New |
| MFC Manulife Financial Corp. | 0.28% | 1,953,994 | $60.0M | Add +39.1% |
| NOW ServiceNow Inc. | 0.27% | 56,394 | $59.8M | New |
| WTW Willis Towers Watson PLC | 0.27% | 190,723 | $59.7M | Add +41.3% |
| STT State Street Corp. | 0.27% | 600,433 | $58.9M | Add +202.6% |
| UHS Universal Health Services-B | 0.27% | 322,163 | $57.8M | Add +119.1% |
| ELV Elevance Health Inc. | 0.26% | 153,898 | $56.8M | Add +148.0% |
| TPR Tapestry Inc. | 0.26% | 867,389 | $56.7M | Add +77.8% |
| TOL Toll Brothers Inc. | 0.25% | 427,169 | $53.8M | Add +159.6% |
| Z Zillow Group Inc. Class C | 0.25% | 724,532 | $53.7M | Add +38.3% |
| NEM Newmont Corp. | 0.24% | 1,405,888 | $52.3M | Add +97.6% |
| SHEL Shell PLC-ADR | 0.24% | 831,000 | $52.1M | Add +523.9% |
| CTRA Coterra Energy Inc. | 0.24% | 2,016,402 | $51.5M | Add +55.6% |
| THC Tenet Healthcare Corp. | 0.24% | 407,194 | $51.4M | Add +225.4% |
| XOM Exxon Mobil Corp. | 0.23% | 476,481 | $51.3M | Reduce -47.7% |
| ABBV Abbvie Inc. | 0.23% | 286,363 | $50.9M | Add +40.0% |
| EWW iShares MSCI Mexico ETF | 0.22% | 1,043,993 | $48.9M | Add +8.9% |
| CCJ Cameco Corp. | 0.22% | 943,165 | $48.5M | Reduce -62.0% |
| CAH Cardinal Health Inc. | 0.22% | 408,755 | $48.3M | Reduce -12.1% |
| CPAY Corpay Inc. | 0.22% | 140,292 | $47.5M | Add +4.6% |
| SPGI S&P Global Inc. | 0.22% | 95,200 | $47.4M | Add +84.6% |
| TMUS T-Mobile US Inc. | 0.21% | 212,194 | $46.8M | Add +6.3% |
| INCY Incyte Corp. | 0.21% | 671,777 | $46.4M | Add +117.7% |
| PRU Prudential Financial Inc. | 0.21% | 388,349 | $46.0M | Add +41.8% |
| NBIX Neurocrine Biosciences Inc. | 0.21% | 332,598 | $45.4M | Add +146.0% |
| ABNB Airbnb Inc. Class A | 0.21% | 342,655 | $45.0M | Reduce -2.0% |
| LEN Lennar Corp. Class A | 0.20% | 326,518 | $44.5M | Add +69.7% |
| COR Cencora Inc. | 0.20% | 197,536 | $44.4M | Reduce -16.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.20% | 673,461 | $44.1M | Add +228.3% |
| KO The Coca-Cola Co. | 0.20% | 702,287 | $43.7M | Reduce -68.5% |
| FIX Comfort Systems USA Inc. | 0.20% | 100,933 | $42.8M | Add +542.1% |
| ON On Semiconductor | 0.20% | 676,720 | $42.7M | Reduce -39.7% |
| GILD Gilead Sciences Inc. | 0.20% | 460,936 | $42.6M | Add +122.7% |
| PM Philip Morris International | 0.20% | 353,445 | $42.5M | Add +145.7% |
| GDDY GoDaddy Inc. Class A | 0.19% | 213,102 | $42.1M | Reduce -10.8% |
Portfolio Sells Q3 2024 → Q4 2024
| IVV iShares Core S&P 500 ETF | Reduce -8.3% | 5.50% | −1.76 |
| IEMG iShares Core MSCI Emerging | Reduce -0.7% | 4.23% | −1.55 |
| PG The Procter & Gamble Co. | Reduce -72.5% | 0.34% | −1.23 |
| NVDA Nvidia Corp. | Reduce -26.4% | 2.15% | −1.12 |
| JNJ Johnson & Johnson | Reduce -63.4% | 0.36% | −0.99 |
| WMT Walmart Inc. | Reduce -72.6% | 0.32% | −0.98 |
| GOOGL Alphabet Inc. Class A | Reduce -17.3% | 3.14% | −0.97 |
| META Meta Platforms Inc. Class A | Reduce -22.6% | 1.67% | −0.93 |
| MSFT Microsoft Corp. | Reduce -23.3% | 1.29% | −0.83 |
| KO The Coca-Cola Co. | Reduce -68.5% | 0.20% | −0.71 |
| AAPL Apple Inc. | Reduce -40.2% | 0.71% | −0.65 |
| AMAT Applied Materials Inc. | Reduce -97.2% | 0.01% | −0.65 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.58 |
| AMZN Amazon.com Inc. | Reduce -34.8% | 0.93% | −0.56 |
| PEP Pepsico Inc. | Reduce -67.3% | 0.17% | −0.56 |
| CVX Chevron Corp. | Reduce -99.0% | 0.00% | −0.55 |
| KLAC KLA Corp. | Reduce -42.5% | 0.33% | −0.55 |
| VOO Vanguard S&P 500 ETF | Sold out | 0.00% | −0.51 |
| COST Costco Wholesale Corp. | Reduce -52.4% | 0.34% | −0.51 |
| VWO Vanguard Ftse Emerging Marke | Reduce -35.1% | 0.45% | −0.48 |
| CCJ Cameco Corp. | Reduce -62.0% | 0.22% | −0.45 |
| LRCX Lam Research Corp. | Reduce -8.2% | 0.84% | −0.44 |
| PDD PDD Holdings Inc. | Reduce -0.4% | 0.55% | −0.40 |
| TGT Target Corp. | Reduce -70.7% | 0.10% | −0.39 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.38 |
| XOM Exxon Mobil Corp. | Reduce -47.7% | 0.23% | −0.37 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.36 |
| ABT Abbott Laboratories | Reduce -72.9% | 0.10% | −0.36 |
| MRK Merck & Co. Inc. | Reduce -7.4% | 0.66% | −0.34 |
| CMG Chipotle Mexican Grill Inc. | Reduce -70.3% | 0.10% | −0.31 |
| CL Colgate-Palmolive Co. | Reduce -75.2% | 0.06% | −0.29 |
| ON On Semiconductor | Reduce -39.7% | 0.20% | −0.27 |
| MCD McDonald's Corp. | Reduce -45.3% | 0.17% | −0.24 |
| CVS CVS Health Corp. | Reduce -78.6% | 0.03% | −0.24 |
| AVGO Broadcom Inc. | Reduce -31.2% | 0.70% | −0.23 |
| BABA Alibaba Group Holding-SP ADR | Reduce -50.2% | 0.10% | −0.21 |
| SLB SLB Ltd. | Reduce -66.5% | 0.07% | −0.21 |
| BKR Baker Hughes Co. | Reduce -71.6% | 0.07% | −0.19 |
| DASH DoorDash Inc. Class A | Reduce -74.3% | 0.06% | −0.18 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.18 |
| DHI D.R. Horton Inc. | Reduce -97.0% | 0.00% | −0.17 |
| LH Labcorp Holdings Inc. | Reduce -75.7% | 0.04% | −0.15 |
| LULU Lululemon Athletica Inc. | Reduce -72.4% | 0.07% | −0.15 |
| KR Kroger Co. | Reduce -61.1% | 0.07% | −0.13 |
| EOG EOG Resources Inc. | Reduce -43.4% | 0.11% | −0.13 |
| KMB Kimberly-Clark Corp. | Reduce -57.1% | 0.06% | −0.13 |
| URA Global X Uranium ETF | Reduce -46.5% | 0.08% | −0.12 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.12 |
| DECK Deckers Outdoor Corp. | Reduce -50.5% | 0.13% | −0.12 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −0.12 |
Portfolio Buys Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | Add +883.6% | 22.12% | +19.40 |
| APP AppLovin Corp. Class A | Add +85.6% | 0.73% | +0.54 |
| T AT&T Inc. | Add +402.3% | 0.68% | +0.52 |
| EBAY eBay Inc. | Add +531.1% | 0.51% | +0.40 |
| PYPL PayPal Holdings Inc. | Add +93.1% | 0.92% | +0.38 |
| HOOD Robinhood Markets Inc. Class A | Add +645.5% | 0.42% | +0.38 |
| VST Vistra Corp. | Add +58.9% | 1.12% | +0.37 |
| BMY Bristol-Myers Squibb Co. | Add +237.7% | 0.53% | +0.36 |
| CRM Salesforce Inc. | Add +85.8% | 0.77% | +0.35 |
| ADBE Adobe Inc. | Add +424.4% | 0.48% | +0.35 |
| XYZ Block Inc. | Add +210.8% | 0.48% | +0.33 |
| EXPE Expedia Group Inc. | Add +73.4% | 0.73% | +0.32 |
| FTNT Fortinet Inc. | Add +364.9% | 0.40% | +0.32 |
| GEV GE Vernova Inc. | Add +588.5% | 0.36% | +0.31 |
| TOST Toast Inc. Class A | Add +322.3% | 0.40% | +0.31 |
| BTI British American Tob-SP ADR | Add +261.7% | 0.45% | +0.29 |
| TSLA Tesla Inc. | New | 0.28% | +0.28 |
| NOW ServiceNow Inc. | New | 0.27% | +0.27 |
| MET Metlife Inc. | Add +151.3% | 0.45% | +0.23 |
| MO Altria Group Inc. | Add +86.0% | 0.64% | +0.23 |
| C Citigroup Inc. | Add +75.7% | 0.51% | +0.19 |
| SHEL Shell PLC-ADR | Add +523.9% | 0.24% | +0.19 |
| CMCSA Comcast Corp. Class A | Add +115.4% | 0.52% | +0.19 |
| GPN Global Payments Inc. | Add +88.6% | 0.46% | +0.18 |
| PINS Pinterest Inc. Class A | Add +124.1% | 0.47% | +0.18 |
| WFC Wells Fargo & Co. | Add +37.3% | 0.62% | +0.17 |
| MCK McKesson Corp. | Add +33.8% | 0.86% | +0.17 |
| STT State Street Corp. | Add +202.6% | 0.27% | +0.17 |
| SNOW Snowflake Inc. | Add +2546.0% | 0.17% | +0.17 |
| FIX Comfort Systems USA Inc. | Add +542.1% | 0.20% | +0.16 |
| HPQ HP Inc. | Add +115.2% | 0.42% | +0.16 |
| CNC Centene Corp. | Add +161.5% | 0.34% | +0.14 |
| BNY Bank of New York Mellon Corp. | Add +90.1% | 0.35% | +0.14 |
| SE Sea Ltd.-ADR | Add +100.1% | 0.29% | +0.13 |
| TPR Tapestry Inc. | Add +77.8% | 0.26% | +0.13 |
| SYF Synchrony Financial | Add +258.0% | 0.17% | +0.13 |
| BN Brookfield Corp. | New | 0.13% | +0.13 |
| GSK GSK PLC-Spon ADR | Add +132.7% | 0.35% | +0.12 |
| NBIX Neurocrine Biosciences Inc. | Add +146.0% | 0.21% | +0.12 |
| THC Tenet Healthcare Corp. | Add +225.4% | 0.24% | +0.12 |
| CLS Celestica Inc. | Add +135.3% | 0.17% | +0.12 |
| MRNA Moderna Inc. | New | 0.12% | +0.12 |
| UBER Uber Technologies Inc. | Add +378.2% | 0.17% | +0.11 |
| CP Canadian Pacific Kansas City | Add +2000.8% | 0.12% | +0.11 |
| AZN Astrazeneca PLC-Spons ADR | Add +228.3% | 0.20% | +0.11 |
| DVA Davita Inc. | Add +298.4% | 0.16% | +0.11 |
| CSGP Costar Group Inc. | Add +108.0% | 0.29% | +0.11 |
| WDAY Workday Inc. Class A | Add +1114.4% | 0.12% | +0.10 |
| PPL PPL Corp. | New | 0.10% | +0.10 |
| TOL Toll Brothers Inc. | Add +159.6% | 0.25% | +0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 997 | $24.4B | SPY, IVV, NVDA, AVGO, AMZN |
| Q1 2026 | 993 | $22.4B | SPY, IVV, AMZN, NVDA, GOOGL |
| Q4 2025 | 1,040 | $27.4B | SPY, IVV, NVDA, LRCX, CRM |
| Q3 2025 | 1,014 | $25.5B | IVV, SPY, GOOGL, MSFT, CRM |
| Q2 2025 | 585 | $24.8B | SPY, IVV, NVDA, IEMG, GOOGL |
| Q1 2025 | 664 | $21.6B | SPY, IVV, IEMG, BABA, GOOGL |
| Q4 2024 | 691 | $21.8B | SPY, IVV, IEMG, GOOGL, NVDA |
| Q3 2024 | 773 | $17.7B | IVV, IEMG, GOOGL, NVDA, SPY |
| Q2 2024 | 877 | $19.2B | IVV, IEMG, GOOGL, NVDA, PG |
| Q1 2024 | 677 | $19.8B | IVV, IEMG, GOOGL, PG, NVDA |