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 |
NFX
Newfield Exploration
NFX
|
+$44.6M |
| 2 |
Meta Platforms (Facebook)
META
|
+$35.1M |
| 3 |
XEC
CIMAREX ENERGY CO
XEC
|
+$33M |
| 4 |
AT&T
T
|
+$30.8M |
| 5 |
iShares MSCI Brazil ETF
EWZ
|
+$27.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.04B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$833M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$391M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$147M |
| 5 |
iShares TIPS Bond ETF
TIP
|
+$92.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 3.02% |
| 2 | Energy | 2.11% |
| 3 | Consumer Discretionary | 2.02% |
| 4 | Financials | 1.95% |
| 5 | Consumer Staples | 1.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Acuity Brands
AYI
$10.1B
| $785K | 0.01% |
+5,640
| New | +$868K |
|
327
Camden Property Trust
CPT
$11.2B
| $785K | 0.01% |
+9,328
| New | +$779K |
|
328
GATX Corp
GATX
$6.45B
| $785K | 0.01% |
+11,455
| New | +$783K |
|
329
Digital Realty Trust
DLR
$71.5B
| $784K | 0.01% |
+7,440
| New | +$785K |
|
|
AIV
330
Aimco
AIV
$383M
| $783K | 0.01% |
144,161
-37,001
| -20% | -$198K |
|
331
Regency Centers
REG
$14.7B
| $783K | 0.01% |
+13,270
| New | +$802K |
|
|
VRE
332
DELISTED
Veris Residential
VRE
| $783K | 0.01% |
+46,840
| New | +$884K |
|
|
ACC
333
DELISTED
American Campus Communities, Inc.
ACC
| $783K | 0.01% |
20,262
-54,762
| -73% | -$2.06M |
|
334
Lincoln Electric
LECO
$13.7B
| $782K | 0.01% |
+8,697
| New | +$810K |
|
335
SL Green Realty
SLG
$3.81B
| $782K | 0.01% |
+8,342
| New | +$782K |
|
336
Douglas Emmett
DEI
$2.02B
| $781K | 0.01% |
+21,248
| New | +$796K |
|
|
WRI
337
DELISTED
Weingarten Realty Investors
WRI
| $781K | 0.01% |
+27,828
| New | +$800K |
|
338
Hubbell
HUBB
$25B
| $780K | 0.01% |
+6,406
| New | +$843K |
|
339
Kimco Realty
KIM
$17.2B
| $778K | 0.01% |
+54,000
| New | +$832K |
|
340
COPT Defense Properties
CDP
$4.35B
| $775K | 0.01% |
+30,019
| New | +$795K |
|
341
Gen Digital
GEN
$16.3B
| $774K | 0.01% |
+29,942
| New | +$815K |
|
342
Nordson
NDSN
$16.4B
| $774K | 0.01% |
+5,680
| New | +$803K |
|
343
Essex Property Trust
ESS
$18.1B
| $770K | 0.01% |
+3,198
| New | +$737K |
|
344
Travelers Companies
TRV
$78.4B
| $769K | 0.01% |
+5,538
| New | +$774K |
|
|
TWO
345
Two Harbors Investment
TWO
$1.27B
| $769K | 0.01% |
+12,500
| New | +$768K |
|
|
HR
346
DELISTED
Healthcare Realty Trust Incorporated
HR
| $768K | 0.01% |
+27,715
| New | +$792K |
|
|
DHC
347
Diversified Healthcare Trust
DHC
$2.17B
| $767K | 0.01% |
+48,997
| New | +$815K |
|
|
ELME
348
Elme Communities
ELME
$144M
| $766K | 0.01% |
+28,051
| New | +$766K |
|
349
Kilroy Realty
KRC
$4.6B
| $763K | 0.01% |
+10,753
| New | +$749K |
|
350
Cintas
CTAS
$82.7B
| $759K | 0.01% |
17,788
+12,424
| +232% | +$515K |
|
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Bridgewater Associates's Q1 2018 Portfolio in Review
As of Q1 2018, Bridgewater Associates held 508 positions worth $10.5B, down 14% from $12.2B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Bridgewater Associates withdrew a net $1.74B in Q1 2018, closing 48 positions and reducing 116 holdings. Its most notable exit was Costco, an estimated $15.6M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 3% of assets, up from 1.7% a quarter earlier, followed by Energy and Consumer Discretionary.
Against the trend, Bridgewater Associates opened a new position in Biogen worth $21.1M.
- Bridgewater Associates's largest Q1 2018 buy was Biogen: 77,197 shares worth $21.1M.
- Bridgewater Associates added most to Newfield Exploration in Q1 2018, an estimated $44.6M increase.
- Bridgewater Associates's biggest Q1 2018 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $1.04B.
- Bridgewater Associates fully exited Costco in Q1 2018, selling an estimated $15.6M.
- Bridgewater Associates's ten largest holdings make up 73% of its $10.5B portfolio in Q1 2018.
- Bridgewater Associates opened 262 new positions and closed 48 in Q1 2018.
- Bridgewater Associates's portfolio value fell 14% quarter-over-quarter to $10.5B.
Based on Bridgewater Associates's 13F filing for Q1 2018, filed 15 May 2018.