Bridgewater Associates: Q2 Portfolio Changes - New Positions in ARM, Nvidia, Microsoft, Alphabet, and Intuit; Exits from Alibaba, Baidu, and JD.com.

Bridgewater Associates, founded by Ray Dalio, made significant changes to its portfolio in Q2. The hedge fund initiated a new position in chip designer ARM, raised holdings in US tech giants like Nvidia, Microsoft, and Alphabet, and fully exited its stake in Chinese firms like Alibaba, Baidu, and JD.com. Dalio's moves signal growing confidence in the tech sector, particularly those set to gain from AI growth, and reflect caution over the Chinese market due to concerns over regulation and global tensions.

Bridgewater Associates, the prominent hedge fund founded by Ray Dalio, has made significant adjustments to its portfolio during the second quarter of 2025. The fund's latest 13F filing reveals a strategic shift towards technology and semiconductor stocks, particularly ARM Holdings, while exiting its stakes in several Chinese tech giants [1].

Bridgewater Associates added new stakes in ARM Holdings (NASDAQ:ARM), acquiring approximately 474,000 shares valued at $76.6 million at the end of June 2025. The fund also increased its holdings in Nvidia (NVDA) to 7.22 million shares valued at $1.14 billion, up from 2.84 million shares, and in Microsoft (MSFT) to around 1.72 million shares valued at $853 million, up from 809,000 shares. Additionally, Bridgewater Associates increased its stakes in Alphabet (GOOGL) class A shares to 5.60 million shares valued at $987 million, and in Meta Platforms (META) to 807.1 million shares valued at $596 million [1].

Notably, Bridgewater Associates closed out its stakes in Alibaba (NYSE:BABA), PDD Holdings (PDD), Baidu (BIDU), and JD.com (JD). It also reduced its stakes in SPDR S&P 500 ETF (SPY) to 2.62 million shares valued at $1.61 billion, Constellation Energy (CEG) to 145,000 shares valued at $46.8 million, and Apple (AAPL) to 356,800 shares valued at $73.2 million [1].

The fund's moves reflect a strategic shift towards technology and semiconductor stocks, particularly ARM Holdings, which is seen as an undervalued AI opportunity [2]. The exit from Alibaba and other Chinese tech giants may be a response to geopolitical risks or a reassessment of the companies' long-term growth prospects.

The portfolio adjustments indicate that Bridgewater Associates is maintaining a diversified investment strategy while focusing on growth opportunities in the tech sector. As always, investors should closely monitor these developments and consider the broader market context when making investment decisions.

References:
[1] https://www.ainvest.com/news/bridgewater-associates-q2-trades-adding-arm-holdings-exiting-alibaba-2508-9/
[2] https://seekingalpha.com/news/4484909-bridgewater-associates-adds-arm-holdings-exits-alibaba-among-top-q2-trades