Bridgewater Associates, led by Ray Dalio, posted a 12.41% gain over the past year, slightly outperforming the S&P 500’s 12% return, according to data from stockcircle.com.
The fund primarily focused on information technology stocks, with notable holdings in finance, consumer discretionary, communications, industrials, and health care sectors, the latest 13F filing showed.
Comparing Bridgewater Associates’ holdings between Q4 2024 and Q4 2025 shows notable shifts in both position size and allocation. The number of shares held in NVIDIA (NVDA) increased from 3.50M shares to 3.87M, up 11%. Lam Research (LRCX) saw a 20% rise year-over-year, growing from 2.53M to 3.04M shares. Salesforce (CRM) experienced the most dramatic growth, soaring 285% year-over-year from 502.4K to 1.93M shares.
In contrast, Alphabet (GOOGL) was trimmed significantly, dropping 56% year-over-year from 3.62M to 1.59M shares. Microsoft (MSFT) saw a moderate increase, rising from 667K to 984.1K shares, reflecting a steady upward adjustment. Overall, the fund sharply increased exposure to key tech names like NVDA, LRCX, and CRM while reducing stakes in GOOGL.
The fund’s top holdings as a percentage of the portfolio are State Street SPDR S&P 500 ETF Trust (SPY) at 11.08%, Nvidia (NVDA) at 2.63%, Amazon (AMZN) at 1.64%, iShares Core S&P 500 ETF (IVV) at 10.45%, and Google (GOOGL) (GOOG) at 1.82%.
Seeking Alpha looked at the holdings and ranked its top 15 constituents according to their Quant Ratings.
- State Street SPDR S&P 500 ETF Trust (SPY) – Quant rating: 3.57 – Buy
- iShares Core S&P 500 ETF (IVV) — Quant rating: 3.54 – Buy
- NVIDIA Corporation (NVDA) – Quant rating: 3.49 – Hold
- Lam Research Corporation (LRCX) – Quant rating: 3.49 – Hold
- Salesforce, Inc. (CRM) – Quant rating: 3.38 – Hold
- Alphabet Inc. (GOOGL) – Quant rating: 3.48 – Hold
- Microsoft Corporation (MSFT) – Quant rating: 3.48 – Hold
- Amazon.com, Inc. (AMZN) – Quant rating: 3.40 – Hold
- Adobe Inc. (ADBE) – Quant rating: 2.90 – Hold
- GE Vernova Inc. (GEV) – Quant rating: 3.46 – Hold
- Booking Holdings Inc. (BKNG) – Quant rating: 3.05 – Hold
- Broadcom Inc. (AVGO) – Quant rating: 3.49 – Hold
- Oracle Corporation (ORCL) – Quant rating: 3.44 – Hold
- Advanced Micro Devices, Inc. (AMD) – Quant rating: 4.68 – Strong Buy
- Johnson & Johnson (JNJ) – Quant rating: 3.45 – Hold