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 |
Gen Digital
GEN
|
+$26M |
| 2 |
Eastman Chemical
EMN
|
+$24.8M |
| 3 |
The Mosaic Company
MOS
|
+$24.7M |
| 4 |
Kohl's
KSS
|
+$24.3M |
| 5 |
ESV
Ensco Rowan plc
ESV
|
+$23.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$1.65B |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$906M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$46.7M |
| 4 |
Apple
AAPL
|
+$30.1M |
| 5 |
Chipotle Mexican Grill
CMG
|
+$17.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.22% |
| 2 | Materials | 3.47% |
| 3 | Consumer Discretionary | 3.19% |
| 4 | Energy | 2.92% |
| 5 | Communication Services | 2.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
301
LKQ Corp
LKQ
$6.77B
| $625K | 0.01% |
+22,022
| New | +$671K |
|
302
Penske Automotive Group
PAG
$14.5B
| $612K | 0.01% |
+12,625
| New | +$647K |
|
|
GES
303
DELISTED
Guess Inc
GES
| $610K | 0.01% |
+28,578
| New | +$619K |
|
|
BIG
304
DELISTED
Big Lots, Inc.
BIG
| $610K | 0.01% |
+12,736
| New | +$567K |
|
|
TECD
305
DELISTED
Tech Data Corp
TECD
| $606K | 0.01% |
+8,848
| New | +$542K |
|
306
Dillards
DDS
$9.2B
| $604K | 0.01% |
6,907
+4,500
| +187% | +$435K |
|
|
PNRA
307
DELISTED
Panera Bread Co
PNRA
| $600K | 0.01% |
3,100
-1,200
| -28% | -$224K |
|
308
TechnipFMC
FTI
$28.9B
| $598K | 0.01% |
25,934
-210,552
| -89% | -$5.29M |
|
309
Ashland
ASH
$3.11B
| $593K | 0.01% |
12,039
+8,176
| +212% | +$444K |
|
|
AXE
310
DELISTED
Anixter International Inc
AXE
| $586K | 0.01% |
+10,142
| New | +$635K |
|
311
Idexx Laboratories
IDXX
$44.9B
| $581K | 0.01% |
7,826
+3,600
| +85% | +$258K |
|
312
Domino's
DPZ
$11.6B
| $572K | 0.01% |
+5,300
| New | +$589K |
|
|
FL
313
DELISTED
Foot Locker
FL
| $569K | 0.01% |
7,911
-181,402
| -96% | -$12.9M |
|
314
Choice Hotels
CHH
$5.22B
| $567K | 0.01% |
+11,908
| New | +$610K |
|
315
Cheesecake Factory
CAKE
$4.42B
| $560K | 0.01% |
+10,372
| New | +$570K |
|
316
Hyatt Hotels
H
$17.8B
| $560K | 0.01% |
+11,900
| New | +$635K |
|
317
Telephone and Data Systems
TDS
$3.87B
| $557K | 0.01% |
+22,300
| New | +$626K |
|
318
Jack in the Box
JACK
$308M
| $539K | 0.01% |
+7,000
| New | +$597K |
|
319
Jefferies Financial Group
JEF
$13.2B
| $529K | 0.01% |
+29,157
| New | +$586K |
|
|
XL
320
DELISTED
XL Group Ltd.
XL
| $524K | 0.01% |
+14,440
| New | +$547K |
|
321
Williams-Sonoma
WSM
$27.8B
| $521K | 0.01% |
+13,650
| New | +$556K |
|
322
J.M. Smucker
SJM
$13.2B
| $511K | 0.01% |
4,483
-100
| -2% | -$11.2K |
|
323
Wells Fargo
WFC
$263B
| $492K | 0.01% |
+9,581
| New | +$527K |
|
324
Alaska Air
ALK
$5.42B
| $489K | 0.01% |
+6,150
| New | +$470K |
|
325
TripAdvisor
TRIP
$1.74B
| $485K | 0.01% |
+7,700
| New | +$583K |
|
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Bridgewater Associates's Q3 2015 Portfolio in Review
As of Q3 2015, Bridgewater Associates held 516 positions worth $7.47B, down 31% from $10.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Bridgewater Associates withdrew a net $1.81B in Q3 2015, closing 86 positions and reducing 67 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 4.2% of assets, up from 2.2% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Bridgewater Associates opened a new position in Wynn Resorts worth $12.7M.
- Bridgewater Associates's largest Q3 2015 buy was Wynn Resorts: 239,500 shares worth $12.7M.
- Bridgewater Associates added most to Gen Digital in Q3 2015, an estimated $26M increase.
- Bridgewater Associates's biggest Q3 2015 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $1.65B.
- Bridgewater Associates fully exited Chipotle Mexican Grill in Q3 2015, selling an estimated $17.4M.
- Bridgewater Associates's ten largest holdings make up 76% of its $7.47B portfolio in Q3 2015.
- Bridgewater Associates opened 210 new positions and closed 86 in Q3 2015.
- Bridgewater Associates's portfolio value fell 31% quarter-over-quarter to $7.47B.
Based on Bridgewater Associates's 13F filing for Q3 2015, filed 12 Nov 2015.