Not classifiediShares Tr
10.6%
Not classifiedValue$2.7B
Ray Dalio founded Bridgewater Associates.
Bridgewater Associates, LP Holdings · Q3 2025
| Stock | % | Avg. buy price | Estimated gain | Quarter-end price | Last transaction | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Not classifiediShares Tr
10.6%
Not classifiedValue$2.7B
|
Not classifiediShares Tr | 10.6% | – | – | – | – | |||||
|
Not classifiedSpdr S&p 500 ETF Tr
6.7%
Not classifiedValue$1.7B
|
Not classifiedSpdr S&p 500 ETF Tr | 6.7% | – | – | – | – | |||||
 GInternet Content & InformationAlphabet Inc. (GOOGL)
2.5%
Avg. buy price
$145.32
Estimated gain+65.8%Quarter-end price
$240.88
Last transaction
Reduced· Q3 2025Sold 52.6% of shares
|
G
Internet Content & InformationAlphabet Inc. (GOOGL)
|
2.5% | $145.32 | +65.8% | $240.88 | Reduced· Q3 2025Sold 52.6% of shares | |||||
 MSoftware - InfrastructureMicrosoft Corporation (MSFT)
2.2%
Avg. buy price
$413.29
Estimated gain+24.5%Quarter-end price
$514.72
Last transaction
Reduced· Q3 2025Sold 36.0% of shares
|
M
Software - InfrastructureMicrosoft Corporation (MSFT)
|
2.2% | $413.29 | +24.5% | $514.72 | Reduced· Q3 2025Sold 36.0% of shares | |||||
 CSoftware - ApplicationSalesforce, Inc. (CRM)
1.9%
Avg. buy price
$283.61
Estimated gain−16.7%Quarter-end price
$236.20
Last transaction
Added· Q3 2025Increased shares by 22.4%
|
C
Software - ApplicationSalesforce, Inc. (CRM)
|
1.9% | $283.61 | −16.7% | $236.20 | Added· Q3 2025Increased shares by 22.4% | |||||
 NSemiconductorsNVIDIA Corporation (NVDA)
1.8%
Avg. buy price
$114.44
Estimated gain+62.5%Quarter-end price
$185.94
Last transaction
Reduced· Q3 2025Sold 65.3% of shares
|
N
SemiconductorsNVIDIA Corporation (NVDA)
|
1.8% | $114.44 | +62.5% | $185.94 | Reduced· Q3 2025Sold 65.3% of shares | |||||
 LSemiconductorsLam Research Corporation (LRCX)
1.8%
Avg. buy price
$92.08
Estimated gain+45.4%Quarter-end price
$133.90
Last transaction
Added· Q3 2025Increased shares by 111.4%
|
L
SemiconductorsLam Research Corporation (LRCX)
|
1.8% | $92.08 | +45.4% | $133.90 | Added· Q3 2025Increased shares by 111.4% | |||||
 ASoftware - ApplicationAdobe Inc. (ADBE)
1.7%
Avg. buy price
$409.15
Estimated gain−12.2%Quarter-end price
$359.40
Last transaction
Added· Q3 2025Increased shares by 73.1%
|
A
Software - ApplicationAdobe Inc. (ADBE)
|
1.7% | $409.15 | −12.2% | $359.40 | Added· Q3 2025Increased shares by 73.1% | |||||
 BTravel ServicesBooking Holdings Inc. (BKNG)
1.6%
Avg. buy price
$3,946.44
Estimated gain+36.8%Quarter-end price
$5,399.27
Last transaction
Added· Q3 2025Increased shares by 2.1%
|
B
Travel ServicesBooking Holdings Inc. (BKNG)
|
1.6% | $3,946.44 | +36.8% | $5,399.27 | Added· Q3 2025Increased shares by 2.1% | |||||
 GRenewable UtilitiesGE Vernova Inc. (GEV)
1.6%
Avg. buy price
$344.27
Estimated gain+78.6%Quarter-end price
$614.90
Last transaction
Reduced· Q3 2025Sold 16.3% of shares
|
G
Renewable UtilitiesGE Vernova Inc. (GEV)
|
1.6% | $344.27 | +78.6% | $614.90 | Reduced· Q3 2025Sold 16.3% of shares | |||||
 USoftware - ApplicationUber Technologies, Inc. (UBER)
1.4%
Avg. buy price
$80.00
Estimated gain+22.5%Quarter-end price
$97.97
Last transaction
Reduced· Q3 2025Sold 3.5% of shares
|
U
Software - ApplicationUber Technologies, Inc. (UBER)
|
1.4% | $80.00 | +22.5% | $97.97 | Reduced· Q3 2025Sold 3.5% of shares | |||||
 JDrug Manufacturers - GeneralJohnson & Johnson (JNJ)
1.2%
Avg. buy price
$154.97
Estimated gain+19.7%Quarter-end price
$185.42
Last transaction
Reduced· Q3 2025Sold 24.8% of shares
|
J
Drug Manufacturers - GeneralJohnson & Johnson (JNJ)
|
1.2% | $154.97 | +19.7% | $185.42 | Reduced· Q3 2025Sold 24.8% of shares | |||||
 MInternet Content & InformationMeta Platforms, Inc. (META)
1.2%
Avg. buy price
$431.17
Estimated gain+70.3%Quarter-end price
$734.38
Last transaction
Reduced· Q3 2025Sold 48.3% of shares
|
M
Internet Content & InformationMeta Platforms, Inc. (META)
|
1.2% | $431.17 | +70.3% | $734.38 | Reduced· Q3 2025Sold 48.3% of shares | |||||
 ASemiconductorsAdvanced Micro Devices, Inc. (AMD)
1.1%
Avg. buy price
$152.91
Estimated gain+5.8%Quarter-end price
$161.79
Last transaction
Added· Q3 2025Increased shares by 2.3%
|
A
SemiconductorsAdvanced Micro Devices, Inc. (AMD)
|
1.1% | $152.91 | +5.8% | $161.79 | Added· Q3 2025Increased shares by 2.3% | |||||
 SSpecialty RetailSea Limited (SE)
1.1%
Avg. buy price
$139.19
Estimated gain+28.4%Quarter-end price
$178.73
Last transaction
Added· Q3 2025Increased shares by 83.9%
|
S
Specialty RetailSea Limited (SE)
|
1.1% | $139.19 | +28.4% | $178.73 | Added· Q3 2025Increased shares by 83.9% | |||||
N
NVIDIA Corporation (NVDA)
−$822M
G
Alphabet Inc. (GOOGL)
−$617M
M
Microsoft Corporation (MSFT)
−$315M
M
Meta Platforms, Inc. (META)
−$290M
P
Palo Alto Networks, Inc. (PANW)
−$276M
S
Spotify Technology S.A. (SPOT)
Exited−$199M
F
Fortinet, Inc. (FTNT)
−$196M
T
AT&T Inc. (T)
−$139M
L
Lam Research Corporation (LRCX)
+$193M
A
Adobe Inc. (ADBE)
+$191M
M
Mastercard Incorporated (MA)
+$138M
W
Workday, Inc. (WDAY)
+$137M
R
Reddit, Inc. (RDDT)
New+$126M
S
Sea Limited (SE)
+$125M
N
ServiceNow, Inc. (NOW)
+$99M
C
Salesforce, Inc. (CRM)
+$93M
D
Denison Mines Corp. (DNN)
−1.7M
T
Tronox Holdings plc (TROX)
−1.3M
U
Frontier Group Holdings, Inc. (ULCC)
Exited−821K
G
Gold Fields Limited (GFI)
−621K
S
Sigma Lithium Corporation (SGML)
Exited−620K
H
Harmony Gold Mining Company Limited (HMY)
−593K
V
Vodafone Group Public Limited Company (VOD)
+1.3M
F
F.N.B. Corporation (FNB)
New+1.3M
V
Valley National Bancorp (VLY)
New+730K
N
Neogen Corporation (NEOG)
New+585K
R
Reddit, Inc. (RDDT)
New· Q3 2025
H
Robinhood Markets, Inc. (HOOD)
New· Q3 2025
A
Applied Materials, Inc. (AMAT)
New· Q3 2025
A
Amphenol Corporation (APH)
New· Q3 2025
A
Autodesk, Inc. (ADSK)
New· Q3 2025
M
monday.com Ltd. (MNDY)
New· Q3 2025
S
The Charles Schwab Corporation (SCHW)
New· Q3 2025
U
Union Pacific Corporation (UNP)
New· Q3 2025
Largest holdings in Q3 2025, sized by their share of the disclosed portfolio. This shows what is owned, not what changed.
Ray Dalio founded Bridgewater Associates. This page shows Bridgewater's quarterly Form 13F report of certain United States listed long positions, not Dalio's personal account or the firm's full portfolio. Cash, currencies, commodities, short positions, swaps, private assets, and trades completed before quarter end may be absent.
Profile refreshed July 20, 2026
As of the Q3 2025 filing, Ray Dalio's largest disclosed holdings are iShares Tr, Spdr S&p 500 ETF Tr, Alphabet Inc. (GOOGL). The table shows 15 of 1,014 positions by default, with an exact-count control for the remaining rows. Disclosed shares and values remain visible even when a separate market-price estimate is unavailable.
The biggest disclosed buys in Q3 2025 were Lam Research Corporation (LRCX), Adobe Inc. (ADBE), Mastercard Incorporated (MA), based on the Bridgewater Associates, LP 13F filing. New positions are marked "new" in the table above.
The biggest reductions in Q3 2025 were NVIDIA Corporation (NVDA), Alphabet Inc. (GOOGL), Microsoft Corporation (MSFT). The filing comparison contains 59 full exits, summarized in the activity view above.
The latest 13F discloses $25.5B across 1,014 positions in Q3 2025. 13F filings cover US-listed long positions only; cash and short positions are not disclosed.
Funds file 13Fs up to 45 days after each quarter ends, so this portfolio reflects Q3 2025, the latest disclosed quarter. The filing date is shown with every table.
Non-rejected, non-superseded SEC Form 13F filings for Bridgewater Associates, LP provide the Q3 2025 holdings, disclosed values, and filing date shown here. WhoBought prefers filings whose value units validate and labels a sparse filing when validation is unavailable. Industry labels come from the local company classification record.
Performance uses daily closing prices for holdings with available market-price history. It covers the priced share of disclosed value (64%); holdings without sufficient price history are excluded from the calculation.
Ray Dalio is an American investor, author, and founder of Bridgewater Associates.
No. He handed his voting rights to Bridgewater's board and stepped down as co-chief investment officer in 2022. He sold his remaining shares and left the board in 2025.
He earned a finance degree from Long Island University and an MBA from Harvard Business School, then worked around commodities and futures before founding his firm.
Dalio founded it in 1975 as a wealth-advisory business for corporate clients. The firm also published research on global market trends through Daily Observations.
His work is associated with global macro investing: studying economic forces such as inflation, growth, interest rates, and exchange rates, then expressing those views across markets.
Pure Alpha is the Bridgewater strategy launched in 1991 to pursue returns beyond broad market exposure. All Weather followed in 1996 and became closely associated with risk parity and diversified risk.
His books include Principles: Life & Work, Principles for Navigating Big Debt Crises, The Changing World Order, and How Countries Go Broke.
Bridgewater's approach has historically used currencies, fixed income, and other macro exposures that a 13F does not capture. The page's current holdings and quarterly changes cover only reported US-listed long positions.
No. It follows Bridgewater's disclosed filing portfolio, and Dalio has fully separated from the firm. Any performance shown here is filing-based portfolio performance, not Dalio's personal return.
No. A 13F reports covered securities held by the filing manager. It is not a balance sheet for Dalio, Bridgewater, or Dalio's family office.