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 |
McDonald's
MCD
|
+$6.41M |
| 2 |
UnitedHealth
UNH
|
+$6.05M |
| 3 |
Lockheed Martin
LMT
|
+$6.04M |
| 4 |
Philip Morris
PM
|
+$5.55M |
| 5 |
Accenture
ACN
|
+$5.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.04B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$444M |
| 3 |
iShares Core S&P 500 ETF
IVV
|
+$277M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$226M |
| 5 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$132M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 4% |
| 2 | Financials | 2.7% |
| 3 | Industrials | 1.84% |
| 4 | Materials | 1.48% |
| 5 | Consumer Staples | 1.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
PVH
PVH
$4.09B
| $676K | 0.01% |
17,947
-9,276
| -34% | -$709K |
|
252
Cincinnati Financial
CINF
$27.2B
| $675K | 0.01% |
+8,949
| New | +$892K |
|
253
Healthpeak Properties
DOC
$14.7B
| $660K | 0.01% |
+27,660
| New | +$901K |
|
254
Digital Realty Trust
DLR
$71.7B
| $656K | 0.01% |
+4,720
| New | +$600K |
|
255
Idexx Laboratories
IDXX
$46B
| $655K | 0.01% |
+2,702
| New | +$705K |
|
256
Rollins
ROL
$17.7B
| $649K | 0.01% |
+26,937
| New | +$664K |
|
257
FirstEnergy
FE
$27.6B
| $647K | 0.01% |
+16,154
| New | +$751K |
|
258
Pool Corp
POOL
$7.39B
| $645K | 0.01% |
3,276
-885
| -21% | -$188K |
|
259
Zimmer Biomet
ZBH
$18.8B
| $642K | 0.01% |
+6,546
| New | +$858K |
|
260
Copart
CPRT
$26.6B
| $637K | 0.01% |
+37,188
| New | +$828K |
|
261
Arch Capital
ACGL
$33.7B
| $634K | 0.01% |
+22,280
| New | +$903K |
|
262
American Water Works
AWK
$26.7B
| $629K | 0.01% |
+5,263
| New | +$679K |
|
263
Exelon
EXC
$46.6B
| $618K | 0.01% |
+23,528
| New | +$740K |
|
264
AutoNation
AN
$7.09B
| $617K | 0.01% |
21,998
-10,618
| -33% | -$438K |
|
265
Toll Brothers
TOL
$14.2B
| $614K | 0.01% |
31,873
-20,191
| -39% | -$764K |
|
266
Royal Gold
RGLD
$18.2B
| $601K | 0.01% |
6,854
-5,380
| -44% | -$555K |
|
267
Edison International
EIX
$26.2B
| $597K | 0.01% |
+10,890
| New | +$755K |
|
|
PXD
268
DELISTED
Pioneer Natural Resource Co.
PXD
| $597K | 0.01% |
8,515
+51
| +0.6% | +$6.06K |
|
269
CDW
CDW
$18.1B
| $589K | 0.01% |
+6,310
| New | +$773K |
|
270
Quest Diagnostics
DGX
$26.1B
| $586K | 0.01% |
+7,300
| New | +$756K |
|
|
GRA
271
DELISTED
W.R. Grace & Co.
GRA
| $585K | 0.01% |
16,436
-7,965
| -33% | -$455K |
|
|
SGI
272
Somnigroup International
SGI
$13.9B
| $579K | 0.01% |
52,944
-26,396
| -33% | -$501K |
|
273
Entergy
ETR
$49.7B
| $562K | 0.01% |
+11,964
| New | +$709K |
|
274
Loews
L
$23.6B
| $555K | 0.01% |
+15,928
| New | +$751K |
|
275
Thor Industries
THO
$4.06B
| $551K | 0.01% |
13,062
-5,195
| -28% | -$361K |
|
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Bridgewater Associates's Q1 2020 Portfolio in Review
As of Q1 2020, Bridgewater Associates held 650 positions worth $5.04B, down 49% from $9.79B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Bridgewater Associates withdrew a net $3.42B in Q1 2020, closing 251 positions and reducing 191 holdings. Its most notable exit was JPMorgan Chase, an estimated $90.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 4% of assets, up from 3.6% a quarter earlier, followed by Financials and Industrials.
Against the trend, Bridgewater Associates opened a new position in McDonald's worth $5.38M.
- Bridgewater Associates's largest Q1 2020 buy was McDonald's: 32,541 shares worth $5.38M.
- Bridgewater Associates added most to Lowe's Companies in Q1 2020, an estimated $4.7M increase.
- Bridgewater Associates's biggest Q1 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.04B.
- Bridgewater Associates fully exited JPMorgan Chase in Q1 2020, selling an estimated $90.5M.
- Bridgewater Associates's ten largest holdings make up 68% of its $5.04B portfolio in Q1 2020.
- Bridgewater Associates opened 179 new positions and closed 251 in Q1 2020.
- Bridgewater Associates's portfolio value fell 49% quarter-over-quarter to $5.04B.
Based on Bridgewater Associates's 13F filing for Q1 2020, filed 14 May 2020.