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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$146M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$95.4M |
| 3 |
HP
HPQ
|
+$20.2M |
| 4 |
IBM
IBM
|
+$17.3M |
| 5 |
Ralph Lauren
RL
|
+$14.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$285M |
| 2 |
F5
FFIV
|
+$22.3M |
| 3 |
ANDV
Andeavor
ANDV
|
+$20.1M |
| 4 |
Franklin Resources
BEN
|
+$18.3M |
| 5 |
Cognizant
CTSH
|
+$17.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.18% |
| 2 | Energy | 1.76% |
| 3 | Healthcare | 1.18% |
| 4 | Consumer Discretionary | 1.12% |
| 5 | Materials | 0.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AXLL
301
DELISTED
AXIALL CORP COM STK (DE)
AXLL
| $404K | ﹤0.01% |
+10,702
| New | +$447K |
|
302
Progressive
PGR
$128B
| $358K | ﹤0.01% |
13,151
-71,946
| -85% | -$1.87M |
|
|
QVCGA
303
DELISTED
QVC Group Inc Series A
QVCGA
| $357K | ﹤0.01% |
+371
| New | +$361K |
|
304
Alaska Air
ALK
$5.42B
| $306K | ﹤0.01% |
9,772
-19,228
| -66% | -$574K |
|
305
United Airlines
UAL
$40.2B
| $279K | ﹤0.01% |
+9,100
| New | +$293K |
|
306
3M
MMM
$94.1B
| $275K | ﹤0.01% |
+2,754
| New | +$268K |
|
|
DWA
307
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
| $252K | ﹤0.01% |
+8,841
| New | +$241K |
|
|
PNRA
308
DELISTED
Panera Bread Co
PNRA
| $238K | ﹤0.01% |
1,500
-1,000
| -40% | -$174K |
|
|
DRC
309
DELISTED
DRESSER-RAND GROUP INC
DRC
| $212K | ﹤0.01% |
3,400
-400
| -11% | -$25K |
|
310
Pan American Silver
PAAS
$18.2B
| $163K | ﹤0.01% |
+15,477
| New | +$188K |
|
311
Huntington Bancshares
HBAN
$35B
| $95K | ﹤0.01% |
+11,531
| New | +$97.4K |
|
312
Accenture
ACN
$101B
| – | – |
-4,400
| Closed | -$317K |
|
313
AES
AES
$10.6B
| – | – |
-45,500
| Closed | -$546K |
|
314
AGCO
AGCO
$8.96B
| – | – |
-11,000
| Closed | -$552K |
|
315
AGNC Investment
AGNC
$12.9B
| – | – |
-36,090
| Closed | -$830K |
|
|
AIV
316
Aimco
AIV
$375M
| – | – |
-56,811
| Closed | -$227K |
|
317
Akamai
AKAM
$16.3B
| – | – |
-91,799
| Closed | -$3.91M |
|
318
Albemarle
ALB
$13.3B
| – | – |
-5,055
| Closed | -$315K |
|
319
Ametek
AME
$55.3B
| – | – |
-9,940
| Closed | -$420K |
|
320
Amgen
AMGN
$212B
| – | – |
-83,244
| Closed | -$8.21M |
|
321
Affiliated Managers Group
AMG
$9.78B
| – | – |
-3,762
| Closed | -$617K |
|
322
Ameriprise Financial
AMP
$48.3B
| – | – |
-2,600
| Closed | -$210K |
|
|
323
Franklin Resources
BEN
$17.3B
| – | – |
-403,914
| Closed | -$18.3M |
|
|
BNY
324
Bank of New York Mellon
BNY
$106B
| – | – |
-39,710
| Closed | -$1.11M |
|
325
Blackrock
BLK
$170B
| – | – |
-3,600
| Closed | -$925K |
|
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Bridgewater Associates's Q3 2013 Portfolio in Review
As of Q3 2013, Bridgewater Associates held 443 positions worth $11.9B, up 3.9% from $11.4B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Bridgewater Associates's Q3 2013 filing shows 120 new, 86 increased, 103 reduced and 132 closed positions. Its largest new stake was HP: 1,832,945 shares worth $17.5M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $285M.
By sector, the portfolio is most concentrated in Technology at 2.2% of assets, down from 2.5% a quarter earlier, followed by Energy and Healthcare.
- Bridgewater Associates's largest Q3 2013 buy was HP: 1,832,945 shares worth $17.5M.
- Bridgewater Associates added most to State Street SPDR S&P 500 ETF Trust in Q3 2013, an estimated $146M increase.
- Bridgewater Associates's biggest Q3 2013 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $285M.
- Bridgewater Associates fully exited Andeavor in Q3 2013, selling an estimated $20.1M.
- Bridgewater Associates's ten largest holdings make up 91% of its $11.9B portfolio in Q3 2013.
- Bridgewater Associates opened 120 new positions and closed 132 in Q3 2013.
- Bridgewater Associates's portfolio value rose 3.9% quarter-over-quarter to $11.9B.
Based on Bridgewater Associates's 13F filing for Q3 2013, filed 13 Nov 2013.