Follow the Rich
Macro · All Weather
Ray Dalio
Bridgewater Associates
Founder
Investing style
Global macro investing built on diversification across asset classes and economic environments — the "All Weather" approach.
Famous principles
- "He who lives by the crystal ball is destined to eat ground glass."
- Diversify across uncorrelated return streams.
- Radical transparency and thinking in terms of principles.
NoteBridgewater holds 993 reported positions; portfolio fell from ~$27.4B at year-end 2025. Big quarter for chip adds (NVDA, AVGO, MU, new TSM) while software names (Salesforce, Adobe, Workday, ServiceNow) were exited.
Total portfolio value
$22.40B
Positions
993
Largest holding
SPY · 12.7%
Biggest move this quarter
Added: AMZN $914.0M
Allocation
Top 8 holdings + Other
| Ticker | Company | Value | % of Portfolio | Change |
|---|---|---|---|---|
| SPDR S&P 500 ETF Trust | $2.84B | 12.67% | trimmed | |
| iShares Core S&P 500 ETF | $1.75B | 7.81% | trimmed | |
| Amazon.com Inc | $914.0M | 4.08% | added | |
| NVIDIA Corporation | $818.5M | 3.65% | added | |
| Alphabet Inc (Cl A) | $574.5M | 2.56% | added | |
| Broadcom Inc | $568.1M | 2.54% | added | |
| Micron Technology Inc | $498.6M | 2.23% | added | |
| Microsoft Corp | $401.6M | 1.79% | added | |
| GE Vernova Inc | $379.6M | 1.69% | trimmed | |
| Taiwan Semiconductor (ADR) | $364.0M | 1.62% | new | |
| Lam Research Corp | $335.7M | 1.50% | trimmed | |
| Advanced Micro Devices Inc | $263.0M | 1.17% | trimmed | |
| Newmont Corp | $250.8M | 1.12% | added | |
| Oracle Corp | $234.2M | 1.05% | trimmed | |
| iShares MSCI South Korea ETF | $217.3M | 0.97% | trimmed |
Showing top 15 of 993 reported positions.
What changed this quarter
- trimmedSPYSPDR S&P 500 ETF Trust
- trimmedIVViShares Core S&P 500 ETF
- addedAMZNAmazon.com Inc
- addedNVDANVIDIA Corporation
- addedGOOGLAlphabet Inc (Cl A)
- addedAVGOBroadcom Inc
- addedMUMicron Technology Inc
- addedMSFTMicrosoft Corp
- trimmedGEVGE Vernova Inc
- newTSMTaiwan Semiconductor (ADR)
- trimmedLRCXLam Research Corp
- trimmedAMDAdvanced Micro Devices Inc
- addedNEMNewmont Corp
- trimmedORCLOracle Corp
- trimmedEWYiShares MSCI South Korea ETF
- exitedCRMSalesforce Inc
- exitedADBEAdobe Inc
- exitedBKNGBooking Holdings Inc
- exitedWDAYWorkday Inc
- exitedNOWServiceNow Inc