Core Insights - Bridgewater Associates reported a total market value of $24.8 billion for Q2 2025, reflecting a 15% increase from the previous quarter's $21.6 billion [1][2] - The fund added 85 new stocks, increased holdings in 206 stocks, reduced holdings in 287 stocks, and completely exited 164 stocks during the quarter [1][2] - The top ten holdings accounted for 36.13% of the total portfolio value [1][2] Holdings Overview - The largest holding is SPDR S&P 500 ETF (SPY), with approximately 2.61 million shares valued at $1.61 billion, representing 6.51% of the portfolio, a decrease of 21.9% from the previous quarter [3][4] - The second largest holding is iShares S&P 500 ETF (IVV), with about 2.31 million shares valued at $1.43 billion, accounting for 5.78% of the portfolio, an increase of 6.19% [3][4] - Nvidia (NVDA) ranks third, holding approximately 7.23 million shares valued at $1.14 billion, which is 4.61% of the portfolio, showing a significant increase of 154.37% [3][4] - Other notable holdings include Emerging Markets Core ETF (IEMG) and Alphabet (GOOGL), with respective values of $1.03 billion and $986.96 million, reflecting changes of -9.36% and +84.08% [3][4] Trading Activity - Bridgewater significantly increased its positions in four major tech stocks: Nvidia, Alphabet, Microsoft, and Meta, with increases of 154.37%, 84.08%, 111.88%, and 89.63% respectively [5][6] - Conversely, the fund reduced its holdings in Amazon, Apple, and Tesla by 6%, 62.06%, and 39.8% respectively [6] - The fund also initiated positions in Arm Holdings, Intuit, and Lyft, while completely exiting positions in Alibaba, Baidu, and several other stocks [6] Top Buys and Sells - The top five purchases by percentage change in the portfolio were Nvidia, Microsoft, Alphabet, Meta, and Uber [7] - The top five sales by largest value included Alibaba, SPDR S&P 500 ETF, Pinduoduo, Baidu, and Constellation Energy [7]