Bridgewater Associates, LP
Reported US equity positions for Q1 2026 — $22.4B across 993 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| SPY State Street SPDR S&P 500 ETF Trust | $2.8B | 12.7% | 4,364,862 |
| IVV iShares Core S&P 500 ETF | $1.8B | 7.8% | 2,679,084 |
| AMZN Amazon.com, Inc. | $914.0M | 4.1% | 4,388,711 |
| NVDA NVIDIA Corporation | $818.5M | 3.7% | 4,693,003 |
| GOOGL Alphabet Inc. | $574.5M | 2.6% | 1,997,674 |
| AVGO Broadcom Inc. | $568.1M | 2.5% | 1,835,380 |
| MU Micron Technology, Inc. | $498.6M | 2.2% | 1,475,704 |
| MSFT Microsoft Corporation | $401.6M | 1.8% | 1,084,979 |
| GEV GE Vernova Inc. | $379.6M | 1.7% | 434,897 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $364.0M | 1.6% | 1,077,079 |
| LRCX Lam Research Corporation | $335.7M | 1.5% | 1,571,229 |
| AMD Advanced Micro Devices, Inc. | $263.0M | 1.2% | 1,292,767 |
| NEM Newmont Corporation | $250.8M | 1.1% | 2,316,641 |
| ORCL Oracle Corporation | $234.2M | 1.0% | 1,592,069 |
| EWY iShares MSCI South Korea ETF | $217.3M | 1.0% | 1,766,264 |
| MRVL Marvell Technology, Inc. | $193.0M | 0.9% | 1,948,947 |
| AMAT Applied Materials, Inc. | $191.4M | 0.9% | 559,918 |
| JNJ Johnson & Johnson | $170.3M | 0.8% | 696,884 |
| META Meta Platforms, Inc. | $166.9M | 0.7% | 291,665 |
| ANET Arista Networks, Inc. | $163.3M | 0.7% | 1,330,091 |
| KLAC KLA Corporation | $160.0M | 0.7% | 108,674 |
| CLS Celestica, Inc. | $148.1M | 0.7% | 525,621 |
| VWO Vanguard FTSE Emerging Markets ETF | $147.1M | 0.7% | 2,721,740 |
| AAPL Apple Inc. | $143.0M | 0.6% | 563,492 |
| UNP Union Pacific Corporation | $129.3M | 0.6% | 532,850 |
| MBB iShares MBS ETF | $129.1M | 0.6% | 1,360,000 |
| G7997R103 Seagate Technology Hldngs Pl | $128.9M | 0.6% | 329,117 |
| B Barrick Mining Corporation | $125.6M | 0.6% | 3,079,243 |
| N07059210 Asml Hldg Nv | $121.8M | 0.5% | 92,196 |
| FIX Comfort Systems USA, Inc. | $119.2M | 0.5% | 86,462 |
| MO Altria Group, Inc. | $112.5M | 0.5% | 1,705,511 |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | $111.4M | 0.5% | 1,021,700 |
| GOOG Alphabet Inc. - Class C Capital Stock | $111.0M | 0.5% | 387,002 |
| SE Sea Limited American Preferred | $110.8M | 0.5% | 1,338,128 |
| APH Amphenol Corporation | $109.0M | 0.5% | 863,048 |
| VRT Vertiv Holdings, LLC Class A | $107.7M | 0.5% | 429,766 |
| NUE Nucor Corporation | $104.6M | 0.5% | 618,528 |
| TER Teradyne, Inc. | $100.5M | 0.4% | 338,946 |
| CSX CSX Corporation | $97.5M | 0.4% | 2,375,228 |
| G25457105 Credo Technology Group Holdi | $96.5M | 0.4% | 1,028,202 |
| VOO Vanguard S&P 500 ETF | $94.8M | 0.4% | 158,628 |
| IEMG iShares Core MSCI Emerging Markets ETF | $93.7M | 0.4% | 1,342,944 |
| C Citigroup, Inc. | $90.0M | 0.4% | 793,414 |
| ARM Arm Holdings plc | $89.8M | 0.4% | 593,361 |
| PCAR PACCAR Inc. | $89.8M | 0.4% | 777,072 |
| NRG NRG Energy, Inc. | $86.0M | 0.4% | 588,502 |
| TLN Talen Energy Corporation | $84.9M | 0.4% | 266,099 |
| BKR Baker Hughes Company | $84.3M | 0.4% | 1,381,645 |
| EMXC iShares MSCI Emerging Markets ex China ETF | $84.3M | 0.4% | 1,072,280 |
| SNPS Synopsys, Inc. | $82.6M | 0.4% | 208,353 |
| ALAB Astera Labs, Inc. | $82.3M | 0.4% | 750,940 |
| HCA HCA Healthcare, Inc. | $82.2M | 0.4% | 173,801 |
| M87915274 Tower Semiconductor LTD | $81.2M | 0.4% | 462,725 |
| STLD Steel Dynamics, Inc. | $78.9M | 0.4% | 438,079 |
| WFC Wells Fargo & Company | $75.0M | 0.3% | 942,580 |
| MFC Manulife Financial Corporation | $72.6M | 0.3% | 2,113,648 |
| ONTO Onto Innovation Inc. | $71.4M | 0.3% | 348,405 |
| AMKR Amkor Technology, Inc. | $71.2M | 0.3% | 1,580,929 |
| G87052109 Te Connectivity PLC | $70.3M | 0.3% | 336,174 |
| WDC Western Digital Corporation | $67.4M | 0.3% | 249,039 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| SPY State Street SPDR S&P 500 ETF Trust | Trim | $2.8B | $3.0B | -2% |
| IVV iShares Core S&P 500 ETF | Trim | $1.8B | $2.9B | -36% |
| AMZN Amazon.com, Inc. | Add | $914.0M | $449.7M | +125% |
| NVDA NVIDIA Corporation | Add | $818.5M | $720.9M | +21% |
| GOOGL Alphabet Inc. | Add | $574.5M | $497.9M | +26% |
| AVGO Broadcom Inc. | Add | $568.1M | $403.5M | +57% |
| MU Micron Technology, Inc. | Add | $498.6M | $253.9M | +66% |
| MSFT Microsoft Corporation | Add | $401.6M | $475.9M | +10% |
| GEV GE Vernova Inc. | Trim | $379.6M | $435.3M | -35% |
| LRCX Lam Research Corporation | Trim | $335.7M | $520.7M | -48% |
| AMD Advanced Micro Devices, Inc. | Trim | $263.0M | $354.8M | -22% |
| ORCL Oracle Corporation | Trim | $234.2M | $365.2M | -15% |
| EWY iShares MSCI South Korea ETF | Trim | $217.3M | $201.5M | -15% |
| MRVL Marvell Technology, Inc. | Add | $193.0M | $83.9M | +97% |
| AMAT Applied Materials, Inc. | Add | $191.4M | $122.7M | +17% |
| JNJ Johnson & Johnson | Trim | $170.3M | $271.9M | -47% |
| META Meta Platforms, Inc. | Add | $166.9M | $147.7M | +30% |
| KLAC KLA Corporation | Add | $160.0M | $95.2M | +39% |
| CLS Celestica, Inc. | Add | $148.1M | $101.0M | +54% |
| VWO Vanguard FTSE Emerging Markets ETF | Add | $147.1M | $140.1M | +4% |
| AAPL Apple Inc. | Add | $143.0M | $78.7M | +95% |
| MBB iShares MBS ETF | Trim | $129.1M | $131.0M | -1% |
| G7997R103 Seagate Technology Hldngs Pl | Add | $128.9M | $77.1M | +18% |
| B Barrick Mining Corporation | Add | $125.6M | $108.3M | +24% |
| N07059210 Asml Hldg Nv | Add | $121.8M | $92.1M | +7% |
| FIX Comfort Systems USA, Inc. | Add | $119.2M | $63.6M | +27% |
| MO Altria Group, Inc. | Trim | $112.5M | $188.9M | -48% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | Add | $111.4M | $110.1M | +2% |
| SE Sea Limited American Preferred | Trim | $110.8M | $195.6M | -13% |
| APH Amphenol Corporation | Add | $109.0M | $107.9M | +8% |
| TER Teradyne, Inc. | Add | $100.5M | $38.7M | +70% |
| G25457105 Credo Technology Group Holdi | Add | $96.5M | $46.2M | +220% |
| IEMG iShares Core MSCI Emerging Markets ETF | Add | $93.7M | $85.5M | +6% |
| C Citigroup, Inc. | Add | $90.0M | $83.6M | +11% |
| ARM Arm Holdings plc | Add | $89.8M | $35.7M | +82% |
| NRG NRG Energy, Inc. | Add | $86.0M | $60.6M | +55% |
| ALAB Astera Labs, Inc. | Add | $82.3M | $40.0M | +212% |
| HCA HCA Healthcare, Inc. | Trim | $82.2M | $153.7M | -47% |
| WFC Wells Fargo & Company | Trim | $75.0M | $106.4M | -17% |
| MFC Manulife Financial Corporation | Trim | $72.6M | $93.0M | -17% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.