To The Moon

Ray Dalio’s Bridgewater Associates is a hedge fund with $136.5 billion in assets.

As per 13F filing, in 2025 - Bridgewater loaded up on:

• $iShares Core S&P 500 ETF(IVV)$.

• $SPDR S&P 500 ETF Trust(SPY)$.

• $NVIDIA(NVDA)$.

Note:

• There is no guarantee that following Dalio’s moves can lead to strong results.

• However, it does not hurt to keep a watch on what Bridgewaters are investing in.

Why Them ?

(1) iShares Core S&P 500 ETF (IVV).

• Bridgewater has made several investments in IVV.

• It accounts for 5.78% of Bridgewater’s portfolio, providing exposure to the top large-cap companies.

• In Q2 2025, Bridgewater increased its position in IVV by +6.19% by adding 134,544 shares. 

• IVV tracks the performance of the S&P 500 index.

• And invests in the 500 largest US companies based on market capitalization.

• This means IVV’s top holdings include the Magnificent Seven, eg Nvidia, Microsoft, Apple, Amazon, and Alphabet. It holds 500 stocks and has a yield of 1.06%. 

• IVV has the highest allocation in the information technology sector (36.18%), followed by financials (12.76%) and consumer discretionary (10.68%). 

• IVV has an attractive low expense ratio of 0.03%.

• An investment of $10,000 in 2000 would be worth $73,880 today.

• The fund has generated a cumulative 3-year return of 94.83% and a 5-year return of 114.12%.

• YTD, IVV is up +15.55% and 17% in 12 months.

• Bridgewater owns over 1 million shares of the ETF and has been investing in it since 2010. 

• On Friday, IVV closed at $674.34, offering less risk and higher diversification.

• As it tracks the S&P 500, it is more likely to see positive returns in the long run. 

(2) SPDR S&P 500 ETF Trust (SPY).

• SPY is Bridgewater’s top holdings.

• It makes up 6.51% of the portfolio, its single largest holding.

• The fund tracks the performance of the S&P 500 and gives exposure to the broader US economy.

• Despite trimming its SPY stake by -2.17%, Bridgewater still has the highest allocation in the ETF.

• SPY is the first ETF listed in the US. It provides a highly liquid and low-cost way to build wealth over the years.

• YTD, it has gained +15.50% and 17% in 12 months - same as IVV.

• The fund has generated a 1-year return of 17.46% and a 3-year return of 24.76%. 

• On Fri, 07 Nov 2025, it closed at $670.97.

• SPY remains one of the top choices of investors today.

• It holds 503 stocks and has a gross expense ratio of 0.0945%, a yield of 1.02% that is paid quarterly.

• Like IVV, its highest allocation lies in the information technology sector (36.24%), followed by financials (12.77%) and consumer discretionary (10.69%). 

Several other hedge funds have also increased their stake in SPY.

This include:

• Millennium Management,

• Farallon Capital Management.

• Tudor Investment Corp.

(3) Nvidia.

• In 2025, Billionaire Ray Dalio has made several transactions in NVIDIA Corp.

• Bridgewater boosted its stake in NVDA, increasing its nett position by 4,387,154 shares.

• It offloaded NVDA in Q1 2025 and increased its position subsequently & significantly in Q2 2025.

• Nvidia forms 4.61% of the portfolio, its 3rd-highest holding after SPY and IVV respectively. 

• NVDA remains (a) an industry leader and (b) one of the most valuable companies in the world today with a $5 trillion market cap .

• With demand for artificial intelligence (AI) continues to grow, NVDA will continue to thrive.

• NVDA is set to report earnings results on 19 Nov 2025, that could see the stock soaring higher. 

• NVDA has reported blowout results for the past few quarters.

• Management is expecting a 50% YoY sales growth for the 3rd quarter.

• It is increasing its foot hold on all things (a) Quantum-related and maintains a strong foot hold on (b) artificial intelligence (AI) related.

• And NVDA has recently announced joining a $2 billion India Deep Tech Alliance as a founding member to mentor, train emerging startups — expanding its global footprint. 

• When NVDA closed on Fri, 07 Nov 2025, it ended the week at $188.15 per share - down by -9.59% for the week.

• The stock is up +43% in 2025 and over +1,000% in 5 years, experiencing an incredible run.

• Realistically investors must not expect similar rally / returns anytime soon.

• NVDA continues to remain one of the biggest players in the AI space.

• As long as companies continue to invest billions in AI, NVDA will continue to benefit from it.

• Capping off, analyst at $Goldman Sachs(GS)$ has a price target of $240 and a “Buy” rating.

For week ending 07 Nov 2025, the volatile US market has caused IVV, SPY and NVDA to shed -2.15%, -2.15% and -9.59% respectively. Will the new week presents a “buy” or “wait” for IVV, SPY & NVDA ?

Remember to check out my other posts. (See below). Help to Repost ok, Thanks.

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• Will NVDA, AMD & ASML start to fade ? Tue, 11 November. Idea post.

• BRK.B - Warren Buffett's Letters on Investing +++ Mon, 10 November. Idea post.

• NVDA, PLTR & AMD Con'td To Free Fall ? Sat, 08 November. Pick post.

• Do you think Bridgewater made the right decision investing in IVV, SPY and NVDA ’?

• Do you think ETF or direct shares purchase is a more prudent investment when US market is uncertain & volatile ?

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