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 |
iShares MSCI Emerging Markets ETF
EEM
|
+$709M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$272M |
| 3 |
iShares TIPS Bond ETF
TIP
|
+$141M |
| 4 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$91.1M |
| 5 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$66.1M |
| 2 |
ENDP
Endo International plc
ENDP
|
+$26.8M |
| 3 |
Cleveland-Cliffs
CLF
|
+$15.9M |
| 4 |
Walt Disney
DIS
|
+$14.7M |
| 5 |
IPG
Interpublic Group of Companies
IPG
|
+$14.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 2.42% |
| 2 | Energy | 2.05% |
| 3 | Technology | 1.4% |
| 4 | Healthcare | 1.37% |
| 5 | Financials | 1.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
276
NRG Energy
NRG
$29.8B
| $355K | ﹤0.01% |
20,587
+1,516
| +8% | +$25.4K |
|
277
UDR
UDR
$12.9B
| $351K | ﹤0.01% |
+9,001
| New | +$343K |
|
|
SNI
278
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| $351K | ﹤0.01% |
+5,139
| New | +$362K |
|
279
Range Resources
RRC
$9.11B
| $344K | ﹤0.01% |
14,859
-49,088
| -77% | -$1.24M |
|
280
United Parcel Service
UPS
$97.6B
| $341K | ﹤0.01% |
3,087
-125,827
| -98% | -$13.4M |
|
|
CERN
281
DELISTED
Cerner Corp
CERN
| $337K | ﹤0.01% |
+5,074
| New | +$324K |
|
|
TSS
282
DELISTED
Total System Services, Inc.
TSS
| $334K | ﹤0.01% |
5,728
-18,073
| -76% | -$1.03M |
|
|
TUP
283
DELISTED
Tupperware Brands Corporation
TUP
| $331K | ﹤0.01% |
+4,720
| New | +$329K |
|
284
Alliant Energy
LNT
$19.4B
| $322K | ﹤0.01% |
+8,019
| New | +$325K |
|
|
QVCGA
285
DELISTED
QVC Group Inc Series A
QVCGA
| $310K | ﹤0.01% |
+260
| New | +$288K |
|
286
Rollins
ROL
$18.6B
| $297K | ﹤0.01% |
+16,421
| New | +$294K |
|
|
COL
287
DELISTED
Rockwell Collins
COL
| $297K | ﹤0.01% |
+2,829
| New | +$293K |
|
288
Leggett & Platt
LEG
$1.52B
| $293K | ﹤0.01% |
+5,569
| New | +$291K |
|
289
Regions Financial
RF
$26.3B
| $293K | ﹤0.01% |
+20,021
| New | +$282K |
|
290
Cisco
CSCO
$450B
| $285K | ﹤0.01% |
9,106
-59,755
| -87% | -$1.95M |
|
291
Deluxe
DLX
$1.19B
| $283K | ﹤0.01% |
+4,082
| New | +$285K |
|
292
Lamar Advertising Co
LAMR
$16.2B
| $278K | ﹤0.01% |
3,774
-640
| -14% | -$45.9K |
|
|
FISV
293
Fiserv Inc
FISV
$27.2B
| $277K | ﹤0.01% |
+4,532
| New | +$274K |
|
294
MSC Industrial Direct
MSM
$7.02B
| $269K | ﹤0.01% |
3,131
-490
| -14% | -$43.1K |
|
295
ManpowerGroup
MAN
$2.39B
| $267K | ﹤0.01% |
+2,393
| New | +$247K |
|
296
Oshkosh
OSK
$9.67B
| $266K | ﹤0.01% |
+3,861
| New | +$260K |
|
297
Brown-Forman Class B
BF.B
$12B
| $257K | ﹤0.01% |
+8,258
| New | +$259K |
|
298
CoreCivic
CXW
$3.1B
| $255K | ﹤0.01% |
+9,236
| New | +$289K |
|
299
Hyatt Hotels
H
$17.6B
| $254K | ﹤0.01% |
+4,516
| New | +$256K |
|
300
Avery Dennison
AVY
$12.3B
| $253K | ﹤0.01% |
+2,866
| New | +$240K |
|
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Bridgewater Associates's Q2 2017 Portfolio in Review
As of Q2 2017, Bridgewater Associates held 410 positions worth $10.9B, up 24% from $8.82B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Bridgewater Associates deployed $1.94B of net new capital in Q2 2017, opening 174 new positions and adding to 72 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 1,233,390 shares worth $140M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 2.4% of assets, up from 2.2% a quarter earlier, followed by Energy and Technology.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $66.1M trimmed.
- Bridgewater Associates's largest Q2 2017 buy was iShares TIPS Bond ETF: 1,233,390 shares worth $140M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q2 2017, an estimated $709M increase.
- Bridgewater Associates's biggest Q2 2017 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $66.1M.
- Bridgewater Associates fully exited Walt Disney in Q2 2017, selling an estimated $14.7M.
- Bridgewater Associates's ten largest holdings make up 83% of its $10.9B portfolio in Q2 2017.
- Bridgewater Associates opened 174 new positions and closed 67 in Q2 2017.
- Bridgewater Associates's portfolio value rose 24% quarter-over-quarter to $10.9B.
Based on Bridgewater Associates's 13F filing for Q2 2017, filed 10 Aug 2017.