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 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$224M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$174M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$55.6M |
| 4 |
VMW
VMware, Inc
VMW
|
+$29.1M |
| 5 |
Macy's
M
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$25.7M |
| 2 |
MON
Monsanto Co
MON
|
+$24.9M |
| 3 |
Gen Digital
GEN
|
+$24.8M |
| 4 |
Coca-Cola
KO
|
+$22.6M |
| 5 |
Applied Materials
AMAT
|
+$21.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.12% |
| 2 | Consumer Discretionary | 3.36% |
| 3 | Energy | 2.88% |
| 4 | Communication Services | 2.3% |
| 5 | Materials | 2.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
JWN
351
DELISTED
Nordstrom
JWN
| – | – |
-25,543
| Closed | -$1.83M |
|
352
KeyCorp
KEY
$23.8B
| – | – |
-61,874
| Closed | -$805K |
|
353
KLA
KLAC
$222B
| – | – |
-1,119,250
| Closed | -$5.6M |
|
354
Kennametal
KMT
$2.56B
| – | – |
-9,288
| Closed | -$231K |
|
355
Lear
LEA
$7.39B
| – | – |
-2,700
| Closed | -$294K |
|
356
Lincoln Electric
LECO
$14.1B
| – | – |
-4,195
| Closed | -$220K |
|
357
Leggett & Platt
LEG
$1.4B
| – | – |
-26,727
| Closed | -$1.1M |
|
358
L3Harris
LHX
$55.4B
| – | – |
-11,300
| Closed | -$827K |
|
359
LKQ Corp
LKQ
$6.72B
| – | – |
-22,022
| Closed | -$625K |
|
360
Lincoln National
LNC
$7.92B
| – | – |
-97,621
| Closed | -$4.63M |
|
361
Lowe's Companies
LOW
$121B
| – | – |
-40,692
| Closed | -$2.8M |
|
362
Pediatrix Medical
MD
$2.2B
| – | – |
-8,534
| Closed | -$655K |
|
363
MetLife
MET
$62.4B
| – | – |
-182,824
| Closed | -$7.68M |
|
364
3M
MMM
$91.8B
| – | – |
-47,644
| Closed | -$5.65M |
|
365
MSC Industrial Direct
MSM
$6.76B
| – | – |
-3,692
| Closed | -$225K |
|
366
Mettler-Toledo International
MTD
$28.1B
| – | – |
-2,561
| Closed | -$729K |
|
367
Nasdaq
NDAQ
$53.4B
| – | – |
-36,000
| Closed | -$640K |
|
368
Nordson
NDSN
$16.4B
| – | – |
-3,434
| Closed | -$216K |
|
369
NewMarket
NEU
$7.24B
| – | – |
-1,100
| Closed | -$393K |
|
370
Norfolk Southern
NSC
$75.4B
| – | – |
-26,893
| Closed | -$2.06M |
|
371
Newell Brands
NWL
$2.21B
| – | – |
-36,700
| Closed | -$1.46M |
|
372
Old Republic International
ORI
$10.9B
| – | – |
-11,405
| Closed | -$178K |
|
373
Oshkosh
OSK
$8.91B
| – | – |
-6,400
| Closed | -$233K |
|
374
Penske Automotive Group
PAG
$14.7B
| – | – |
-12,625
| Closed | -$612K |
|
375
Paychex
PAYX
$43.4B
| – | – |
-35,355
| Closed | -$1.68M |
|
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Bridgewater Associates's Q4 2015 Portfolio in Review
As of Q4 2015, Bridgewater Associates held 477 positions worth $7.71B, up 3.2% from $7.47B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Bridgewater Associates's Q4 2015 filing shows 47 new, 99 increased, 116 reduced and 214 closed positions. Its largest new stake was HF Sinclair: 317,080 shares worth $12.6M. The largest sale was Alphabet (Google) Class C, an estimated $25.7M.
By sector, the portfolio is most concentrated in Technology at 4.1% of assets, down from 4.2% a quarter earlier, followed by Consumer Discretionary and Energy.
- Bridgewater Associates's largest Q4 2015 buy was HF Sinclair: 317,080 shares worth $12.6M.
- Bridgewater Associates added most to Vanguard FTSE Emerging Markets ETF in Q4 2015, an estimated $224M increase.
- Bridgewater Associates's biggest Q4 2015 reduction was Gen Digital, cutting an estimated $24.8M.
- Bridgewater Associates fully exited Alphabet (Google) Class C in Q4 2015, selling an estimated $25.7M.
- Bridgewater Associates's ten largest holdings make up 80% of its $7.71B portfolio in Q4 2015.
- Bridgewater Associates opened 47 new positions and closed 214 in Q4 2015.
- Bridgewater Associates's portfolio value rose 3.2% quarter-over-quarter to $7.71B.
Based on Bridgewater Associates's 13F filing for Q4 2015, filed 11 Feb 2016.