Bridgewater Associates Portfolio holdings
Bridgewater Associates, founded in 1975 by Ray Dalio in New York and now headquartered in Westport, Connecticut, is the world’s largest hedge fund, managing over $125 billion in assets as of late 2024, serving institutional clients like pension funds, endowments, and sovereign wealth funds. Known for its pioneering "Pure Alpha" and "All Weather" strategies, the firm uses a systematic, macroeconomic approach to deliver uncorrelated returns and risk parity across global markets, including equities, bonds, currencies, and commodities, guided by rigorous data analysis and radical transparency. Dalio, who stepped down as co-CIO in 2022, built a unique culture of "radical truth" and "thoughtful disagreement," documented in his book *Principles*, though the firm transitioned leadership to co-CEOs Nir Bar Dea and Mark Bertolini in 2023 amid succession planning. With around 1,300 employees and a history of navigating crises like 2008 with gains, Bridgewater remains a titan in alternative investments, blending intellectual rigor with a distinctive, often polarizing management philosophy.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$131M |
| 2 |
Gen Digital
GEN
|
+$20.4M |
| 3 |
Microsoft
MSFT
|
+$18.2M |
| 4 |
Intel
INTC
|
+$17M |
| 5 |
Gilead Sciences
GILD
|
+$16.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$307M |
| 2 |
American Express
AXP
|
+$18.2M |
| 3 |
PepsiCo
PEP
|
+$16.8M |
| 4 |
Intuitive Surgical
ISRG
|
+$15.6M |
| 5 |
CTXS
Citrix Systems Inc
CTXS
|
+$15.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.61% |
| 2 | Energy | 2.12% |
| 3 | Healthcare | 1.28% |
| 4 | Materials | 1.26% |
| 5 | Industrials | 1.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CAB
226
DELISTED
Cabela's Inc
CAB
| $1.19M | 0.01% |
+18,091
| New | +$1.22M |
|
227
eBay
EBAY
$52.1B
| $1.17M | 0.01% |
50,490
-204,336
| -80% | -$4.75M |
|
228
Chubb
CB
$141B
| $1.17M | 0.01% |
+11,785
| New | +$1.14M |
|
229
Jabil
JBL
$31.7B
| $1.16M | 0.01% |
64,619
-39,100
| -38% | -$704K |
|
|
PARA
230
DELISTED
Paramount Global Class B
PARA
| $1.16M | 0.01% |
+18,784
| New | +$1.18M |
|
231
Robert Half
RHI
$4.04B
| $1.16M | 0.01% |
+27,545
| New | +$1.13M |
|
232
Fossil Group
FOSL
$262M
| $1.15M | 0.01% |
9,839
-40,600
| -80% | -$4.73M |
|
233
Packaging Corp of America
PKG
$22.6B
| $1.15M | 0.01% |
+16,300
| New | +$1.11M |
|
234
PPG Industries
PPG
$26.5B
| $1.11M | 0.01% |
11,432
-600
| -5% | -$57K |
|
235
Lincoln National
LNC
$8.19B
| $1.1M | 0.01% |
+21,718
| New | +$1.09M |
|
236
Terex
TEX
$7.84B
| $1.09M | 0.01% |
+24,536
| New | +$1.03M |
|
237
Harmony Gold Mining
HMY
$9.7B
| $1.08M | 0.01% |
353,400
-31,300
| -8% | -$95.7K |
|
238
Eastman Chemical
EMN
$7.79B
| $1.03M | 0.01% |
11,987
-36,400
| -75% | -$2.98M |
|
|
SGEN
239
DELISTED
Seagen Inc. Common Stock
SGEN
| $1.02M | 0.01% |
+22,400
| New | +$1.07M |
|
|
FISV
240
Fiserv Inc
FISV
$28.9B
| $1.01M | 0.01% |
+35,736
| New | +$1.02M |
|
241
Macy's
M
$6.62B
| $1.01M | 0.01% |
17,071
-39,300
| -70% | -$2.18M |
|
242
IAMGOLD
IAG
$8.24B
| $1.01M | 0.01% |
286,100
-73,900
| -21% | -$279K |
|
243
Community Health Systems
CYH
$393M
| $987K | 0.01% |
30,504
+3,765
| +14% | +$124K |
|
244
United Airlines
UAL
$40.2B
| $960K | 0.01% |
21,500
-14,900
| -41% | -$670K |
|
245
Stryker
SYK
$133B
| $951K | 0.01% |
11,667
-1,900
| -14% | -$151K |
|
246
Zions Bancorporation
ZION
$10.1B
| $929K | 0.01% |
+30,000
| New | +$911K |
|
247
Nasdaq
NDAQ
$53.6B
| $924K | 0.01% |
+75,000
| New | +$969K |
|
248
Kirby Corp
KEX
$7.77B
| $911K | 0.01% |
+9,000
| New | +$906K |
|
249
Alcoa
AA
$11.7B
| $895K | 0.01% |
+28,931
| New | +$804K |
|
|
CFN
250
DELISTED
CAREFUSION CORPORATION
CFN
| $893K | 0.01% |
+22,200
| New | +$898K |
|
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Bridgewater Associates's Q1 2014 Portfolio in Review
As of Q1 2014, Bridgewater Associates held 416 positions worth $12.2B, down 1.9% from $12.5B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Bridgewater Associates's Q1 2014 filing shows 123 new, 75 increased, 132 reduced and 77 closed positions. Its largest new stake was Berkshire Hathaway Class B: 93,308 shares worth $11.7M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $307M.
By sector, the portfolio is most concentrated in Technology at 2.6% of assets, up from 2.4% a quarter earlier, followed by Energy and Healthcare.
- Bridgewater Associates's largest Q1 2014 buy was Berkshire Hathaway Class B: 93,308 shares worth $11.7M.
- Bridgewater Associates added most to Vanguard FTSE Emerging Markets ETF in Q1 2014, an estimated $131M increase.
- Bridgewater Associates's biggest Q1 2014 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $307M.
- Bridgewater Associates fully exited American Express in Q1 2014, selling an estimated $18.2M.
- Bridgewater Associates's ten largest holdings make up 89% of its $12.2B portfolio in Q1 2014.
- Bridgewater Associates opened 123 new positions and closed 77 in Q1 2014.
- Bridgewater Associates's portfolio value fell 1.9% quarter-over-quarter to $12.2B.
Based on Bridgewater Associates's 13F filing for Q1 2014, filed 14 May 2014.