智通财经网·2025-11-14 13:48Core Insights - Bridgewater Associates reported a total portfolio value of $25.5 billion for Q3 2025, an increase from $24.8 billion in the previous quarter [1] - The fund added 493 new stocks, increased holdings in 325 stocks, reduced holdings in 194 stocks, and completely exited 64 stocks during the quarter [1] - The top ten holdings accounted for 32.54% of the total portfolio value [1] Holdings Summary - The largest holding is the iShares S&P 500 ETF (IVV), with approximately 4.05 million shares valued at $2.71 billion, representing 10.62% of the portfolio, a 75.31% increase in shares from the previous quarter [3][4] - The second largest holding is the SPDR S&P 500 ETF (SPY), with about 2.57 million shares valued at $1.71 billion, making up 6.69% of the portfolio, a decrease of 1.73% in shares [3][4] - Google (GOOGL) is the third largest holding, with around 2.65 million shares valued at $645 million, which is a 52.61% reduction in shares [3][4] - Microsoft (MSFT) ranks fourth, holding approximately 1.1 million shares valued at $568 million, down 36.03% from the previous quarter [3][4] - Salesforce (CRM) is the fifth largest holding, with about 2.01 million shares valued at $476 million, reflecting a 22.41% increase in shares [3][4] Sector Adjustments - Bridgewater's significant portfolio adjustments suggest a shift away from major U.S. tech companies, with a cautious stance towards sectors such as biotechnology, travel, real estate, and mining [4] - The fund has reduced its positions in several tech stocks, including Nvidia (down 65.28%), Meta (down 48.34%), and Amazon (down 9.56%) [5][6] - New positions were established in stocks like Reddit, Robinhood, and Applied Materials [6] Buying and Selling Trends - The top five new purchases include the iShares S&P 500 ETF, Lam Research, Adobe, Sea Ltd, and Reddit [7] - The top five sold positions include the iShares Core Emerging Markets ETF, Nvidia, Google, SPDR Gold Shares ETF, and Microsoft [8]