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 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
Globus Medical
GMED
$11.1B
| $6.26M | 0.04% |
86,679
-5,237
| -6% | -$380K |
|
252
Arthur J. Gallagher & Co
AJG
$65B
| $6.25M | 0.04% |
36,840
-47,952
| -57% | -$7.84M |
|
253
Cracker Barrel
CBRL
$1.31B
| $6.23M | 0.04% |
48,462
+11,098
| +30% | +$1.48M |
|
254
Columbia Sportswear
COLM
$3.08B
| $6.2M | 0.04% |
63,600
-33,322
| -34% | -$3.32M |
|
255
Cigna
CI
$73.4B
| $6.18M | 0.04% |
26,934
+18,572
| +222% | +$3.95M |
|
256
Autohome
ATHM
$2.66B
| $6.16M | 0.04% |
208,850
+25,491
| +14% | +$970K |
|
257
AT&T
T
$162B
| $6.14M | 0.04% |
330,550
+316,718
| +2,290% | +$5.92M |
|
258
State Street
STT
$50.1B
| $6.09M | 0.04% |
65,464
-71,090
| -52% | -$6.7M |
|
259
Coca-Cola Consolidated
COKE
$12.4B
| $6.08M | 0.04% |
98,250
-61,320
| -38% | -$3.03M |
|
260
Northrop Grumman
NOC
$78.1B
| $6.05M | 0.04% |
15,627
+14,280
| +1,060% | +$5.32M |
|
261
Ameriprise Financial
AMP
$48.6B
| $5.96M | 0.03% |
19,766
-27,482
| -58% | -$8.13M |
|
262
Celsius Holdings
CELH
$7.47B
| $5.96M | 0.03% |
239,787
-144,942
| -38% | -$4.01M |
|
263
Public Storage
PSA
$61.6B
| $5.94M | 0.03% |
+15,847
| New | +$5.29M |
|
264
Amgen
AMGN
$208B
| $5.82M | 0.03% |
25,878
-11,964
| -32% | -$2.53M |
|
|
AMED
265
DELISTED
Amedisys
AMED
| $5.75M | 0.03% |
35,551
+1,502
| +4% | +$241K |
|
|
HBI
266
DELISTED
Hanesbrands
HBI
| $5.72M | 0.03% |
342,291
-172,205
| -33% | -$2.93M |
|
267
Paychex
PAYX
$42.6B
| $5.7M | 0.03% |
41,742
+36,908
| +764% | +$4.56M |
|
268
Ashland
ASH
$3.32B
| $5.69M | 0.03% |
52,884
-36,492
| -41% | -$3.67M |
|
269
AbbVie
ABBV
$435B
| $5.67M | 0.03% |
41,855
-33,241
| -44% | -$3.93M |
|
270
Progressive
PGR
$124B
| $5.64M | 0.03% |
+54,991
| New | +$5.25M |
|
|
TWNK
271
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $5.62M | 0.03% |
275,201
+32,098
| +13% | +$597K |
|
272
Shake Shack
SHAK
$2.62B
| $5.6M | 0.03% |
77,652
+9,603
| +14% | +$730K |
|
273
Global Payments
GPN
$23.8B
| $5.57M | 0.03% |
41,219
+29,198
| +243% | +$4.03M |
|
274
Goodyear
GT
$2.05B
| $5.54M | 0.03% |
259,691
-153,412
| -37% | -$3.18M |
|
275
Coursera
COUR
$1.66B
| $5.44M | 0.03% |
222,453
+3,591
| +2% | +$109K |
|
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Bridgewater Associates's Q4 2021 Portfolio in Review
As of Q4 2021, Bridgewater Associates held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bridgewater Associates withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Bridgewater Associates opened a new position in RTX Corp worth $16M.
- Bridgewater Associates's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Bridgewater Associates added most to Alibaba in Q4 2021, an estimated $142M increase.
- Bridgewater Associates's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Bridgewater Associates fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Bridgewater Associates's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Bridgewater Associates opened 137 new positions and closed 89 in Q4 2021.
- Bridgewater Associates's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.