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 |
Amazon
AMZN
|
+$293M |
| 2 |
Microsoft
MSFT
|
+$216M |
| 3 |
ExxonMobil
XOM
|
+$92M |
| 4 |
Cameco
CCJ
|
+$87.2M |
| 5 |
Advanced Micro Devices
AMD
|
+$67.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$256M |
| 2 |
Eli Lilly
LLY
|
+$148M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$140M |
| 4 |
Comcast
CMCSA
|
+$88.8M |
| 5 |
Procter & Gamble
PG
|
+$83.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 18.04% |
| 2 | Healthcare | 14.75% |
| 3 | Technology | 14.42% |
| 4 | Consumer Discretionary | 12.13% |
| 5 | Communication Services | 8.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
276
iShares MSCI Emerging Markets ETF
EEM
$28.6B
| $8.43M | 0.04% |
197,862
-176,892
| -47% | -$7.42M |
|
277
Delta Air Lines
DAL
$58.3B
| $8.4M | 0.04% |
177,083
-271,164
| -60% | -$13.5M |
|
278
DT Midstream
DTM
$14B
| $8.35M | 0.04% |
117,581
-36,173
| -24% | -$2.37M |
|
|
BERY
279
DELISTED
Berry Global Group, Inc.
BERY
| $8.22M | 0.04% |
152,186
-166,853
| -52% | -$9.06M |
|
280
Unity
U
$14.6B
| $8.19M | 0.04% |
503,963
+322,525
| +178% | +$6.9M |
|
281
Valaris
VAL
$5.23B
| $8.12M | 0.04% |
109,012
-31,378
| -22% | -$2.27M |
|
282
Northern Oil and Gas
NOG
$2.27B
| $8.06M | 0.04% |
216,947
-74,788
| -26% | -$3M |
|
283
Patterson-UTI
PTEN
$3.74B
| $8.03M | 0.04% |
775,256
+312,529
| +68% | +$3.43M |
|
284
Enphase Energy
ENPH
$4.94B
| $7.92M | 0.04% |
79,432
-20,273
| -20% | -$2.36M |
|
285
Eagle Materials
EXP
$6.35B
| $7.81M | 0.04% |
35,899
-23,536
| -40% | -$5.76M |
|
286
Principal Financial Group
PFG
$24.5B
| $7.73M | 0.04% |
98,508
+1,632
| +2% | +$133K |
|
287
Mohawk Industries
MHK
$7.29B
| $7.72M | 0.04% |
+67,999
| New | +$7.91M |
|
288
Incyte
INCY
$24.9B
| $7.71M | 0.04% |
127,128
-239,484
| -65% | -$13.6M |
|
289
Etsy
ETSY
$7.89B
| $7.68M | 0.04% |
130,179
+35,725
| +38% | +$2.28M |
|
290
Qualcomm
QCOM
$160B
| $7.68M | 0.04% |
38,538
+31,057
| +415% | +$5.87M |
|
291
TE Connectivity
TEL
$59.9B
| $7.56M | 0.04% |
+50,226
| New | +$7.37M |
|
292
Dentsply Sirona
XRAY
$2.75B
| $7.52M | 0.04% |
302,021
+38,082
| +14% | +$1.09M |
|
293
Autoliv
ALV
$9.09B
| $7.5M | 0.04% |
70,065
+62,728
| +855% | +$7.46M |
|
294
Onto Innovation
ONTO
$12.5B
| $7.43M | 0.04% |
+33,850
| New | +$7M |
|
295
MGM Resorts International
MGM
$11.7B
| $7.42M | 0.04% |
167,062
-31,913
| -16% | -$1.33M |
|
296
Legend Biotech
LEGN
$3.69B
| $7.33M | 0.04% |
165,459
-43,441
| -21% | -$2M |
|
297
SLM Corp
SLM
$4.86B
| $7.32M | 0.04% |
352,301
-331,014
| -48% | -$6.97M |
|
298
L3Harris
LHX
$50.7B
| $7.28M | 0.04% |
+32,418
| New | +$7M |
|
299
Kosmos Energy
KOS
$1.52B
| $7.28M | 0.04% |
1,313,865
-597,046
| -31% | -$3.48M |
|
300
Core & Main
CNM
$8.15B
| $7.14M | 0.04% |
+145,877
| New | +$8.1M |
|
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Bridgewater Associates's Q2 2024 Portfolio in Review
As of Q2 2024, Bridgewater Associates held 959 positions worth $19.2B, down 3.1% from $19.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Bridgewater Associates withdrew a net $757M in Q2 2024, closing 82 positions and reducing 390 holdings. Its most notable exit was Marathon Oil Corporation, an estimated $28.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 18% of assets, down from 19% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Bridgewater Associates opened a new position in Constellation Energy worth $38.9M.
- Bridgewater Associates's largest Q2 2024 buy was Constellation Energy: 194,333 shares worth $38.9M.
- Bridgewater Associates added most to Amazon in Q2 2024, an estimated $293M increase.
- Bridgewater Associates's biggest Q2 2024 reduction was Apple, cutting an estimated $256M.
- Bridgewater Associates fully exited Marathon Oil Corporation in Q2 2024, selling an estimated $28.8M.
- Bridgewater Associates's ten largest holdings make up 35% of its $19.2B portfolio in Q2 2024.
- Bridgewater Associates opened 282 new positions and closed 82 in Q2 2024.
- Bridgewater Associates's portfolio value fell 3.1% quarter-over-quarter to $19.2B.
Based on Bridgewater Associates's 13F filing for Q2 2024, filed 14 Aug 2024.