Bridgewater's Major Q1 Adjustments: Big Bet on Alibaba, Heavy Gold Investment, SPDR S&P 500 ETF Reduction

TradingKey - Bridgewater Associates, the world's largest hedge fund, released its latest 13F filing, revealing significant adjustments to its equity strategy in the first quarter of 2025. The firm increased its holdings in Chinese stocks, purchasing over 5.4 million shares of Alibaba. It initiated a new position in the SPDR Gold ETF, with a total market value of $318.8 million, while reducing its stake in the S&P 500 ETF by 59.4%.

Following the adjustments, Alibaba has become Bridgewater's largest individual stock holding and its fourth-largest overall position, currently valued at $748.5 million. Additionally, Baidu's holdings were increased by 956%, bringing its market value to $190 million.

The SPDR Gold ETF emerged as Bridgewater's largest new position in Q1. The firm acquired over 1.1 million shares, representing a 1.48% stake. This move aligns with Bridgewater's strategy to hedge against market uncertainties, as gold is a traditional safe-haven asset.

The most notable reduction in Q1 was the trimming of the SPDR S&P 500 ETF by over 4.88 million shares, decreasing its holding from 22% in the previous quarter to less than 9% currently. Despite this reduction, it remains Bridgewater's largest overall position.

Bridgewater reduced its holdings of Google Class A and Nvidia by just under 20% in the first quarter, while trimming its position in Meta by nearly 30%. This adjustment reflects Bridgewater's concerns over the overvaluation of U.S. tech stocks.