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Bridgewater Ray Dalio's firm

Holdings as of the end of Q4 2025, reported in its 13F filing on Feb 13, 2026; changes vs Q3 2025. Source

Reported value
$27.4B
at quarter-end prices
Positions
1040
top 10 are 36% of it
Bought · Q4 2025
541
191 new, 350 added 20%+
Sold · Q4 2025
425
165 sold out, 260 cut 20%+

Holdings 1040

#StockCompanySharesValueOf portfolio Shares vs Q3 2025
1 SPY SPDR S&P 500 ETF TR 4,455,413 $3B 11.1% +74%
2 IVV ISHARES TR 4,185,589 $2.9B 10.5% +3%
3 NVDA NVIDIA CORPORATION 3,865,205 $720.9M 2.6% +54%
4 LRCX LAM RESEARCH CORP 3,041,661 $520.7M 1.9% -12%
5 CRM SALESFORCE INC 1,932,066 $511.8M 1.9% -4%
6 GOOGL ALPHABET INC 1,590,826 $497.9M 1.8% -40%
7 MSFT MICROSOFT CORP 984,091 $475.9M 1.7% -10%
8 AMZN AMAZON COM INC 1,948,254 $449.7M 1.6% +73%
9 ADBE ADOBE INC 1,275,055 $446.3M 1.6% +1%
10 GEV GE VERNOVA INC 665,997 $435.3M 1.6% +2%
11 BKNG BOOKING HOLDINGS INC 80,528 $431.3M 1.6% +4%
12 AVGO BROADCOM INC 1,165,740 $403.5M 1.5% +38%
13 ORCL ORACLE CORP 1,873,481 $365.2M 1.3% +361%
14 AMD ADVANCED MICRO DEVICES INC 1,656,527 $354.8M 1.3% -8%
15 JNJ JOHNSON & JOHNSON 1,313,958 $271.9M 0.99% -23%
16 MU MICRON TECHNOLOGY INC 889,640 $253.9M 0.93% +52355%
17 MA MASTERCARD INCORPORATED 409,207 $233.6M 0.85% +12%
18 NEM NEWMONT CORP 2,308,909 $230.5M 0.84% +496%
19 WDAY WORKDAY INC 965,117 $207.3M 0.76% -7%
20 NOW SERVICENOW INC 1,338,885 $205.1M 0.75% +343%
21 EWY ISHARES INC 2,072,358 $201.5M 0.73% +2%
22 SE SEA LTD 1,533,269 $195.6M 0.71% -5%
23 PYPL PAYPAL HLDGS INC 3,329,311 $194.4M 0.71% +18%
24 MO ALTRIA GROUP INC 3,276,751 $188.9M 0.69% -11%
25 V VISA INC 536,497 $188.2M 0.69% -21%
26 RDDT REDDIT INC 767,816 $176.5M 0.64% +24%
27 EXPE EXPEDIA GROUP INC 622,783 $176.4M 0.64% -15%
28 ANET ARISTA NETWORKS INC 1,329,442 $174.2M 0.64% +95%
29 BTI BRITISH AMERN TOB PLC 2,952,078 $167.1M 0.61% -21%
30 HCA HCA HEALTHCARE INC 329,307 $153.7M 0.56% -3%
31 META META PLATFORMS INC 223,701 $147.7M 0.54% -46%
32 VWO VANGUARD INTL EQUITY INDEX F 2,605,136 $140.1M 0.51% +5%
33 MBB ISHARES TR 1,375,400 $131M 0.48% +1%
34 AMAT APPLIED MATLS INC 477,577 $122.7M 0.45% +3%
35 PINS PINTEREST INC 4,317,906 $111.8M 0.41% +5%
36 LQD ISHARES TR 999,400 $110.1M 0.40% +4%
37 B BARRICK MNG CORP 2,486,509 $108.3M 0.39% +306%
38 APH AMPHENOL CORP NEW 798,364 $107.9M 0.39% +9%
39 WFC WELLS FARGO CO NEW 1,141,540 $106.4M 0.39% -55%
40 UBER UBER TECHNOLOGIES INC 1,289,061 $105.3M 0.38% -64%
41 CMCSA COMCAST CORP NEW 3,510,012 $104.9M 0.38% -49%
42 CLS CELESTICA INC 341,774 $101M 0.37% +115%
43 TEL TE CONNECTIVITY PLC 440,801 $100.3M 0.37% +84%
44 TLN TALEN ENERGY CORP 265,244 $99.4M 0.36% +78%
45 KLAC KLA CORP 78,367 $95.2M 0.35% -30%
46 CI THE CIGNA GROUP 344,452 $94.8M 0.35% -43%
47 MFC MANULIFE FINL CORP 2,558,071 $93M 0.34% -14%
48 — ASML HOLDING N V 86,089 $92.1M 0.34% -5%
49 XYZ BLOCK INC 1,330,153 $86.6M 0.32% +961%
50 IEMG ISHARES INC 1,271,627 $85.5M 0.31% +10%

Sold out in Q4 2025 165

StockCompanyShares held in Q3 2025Value thenOf portfolio then
FISV FISERV INC 1,593,157 $205.4M 0.80%
CRWV COREWEAVE INC 270,556 $37M 0.15%
AZN ASTRAZENECA PLC 462,859 $35.5M 0.14%
DKNG DRAFTKINGS INC NEW 852,495 $31.9M 0.12%
CCJ CAMECO CORP 293,928 $24.7M 0.10%
PANW PALO ALTO NETWORKS INC 89,094 $18.1M 0.07%
ELV ELEVANCE HEALTH INC FORMERLY 55,203 $17.8M 0.07%
RSG REPUBLIC SVCS INC 63,062 $14.5M 0.06%
CTVA CORTEVA INC 191,216 $12.9M 0.05%
AJG GALLAGHER ARTHUR J & CO 39,190 $12.1M 0.05%
ATI ATI INC 136,458 $11.1M 0.04%
PGR PROGRESSIVE CORP 42,709 $10.5M 0.04%
FDX FEDEX CORP 43,132 $10.2M 0.04%
FOXA FOX CORP 142,041 $9M 0.04%
MSI MOTOROLA SOLUTIONS INC 19,429 $8.9M 0.03%

13F filings list US-listed long positions (stocks and ADRs) at the quarter's end: no shorts, cash, bonds or foreign shares; options and principal amounts are left out here. Trades made after the quarter ended don't show until the next filing. Changes compare share counts with the quarter before (splits can show as adds). Not investment advice.