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 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.2B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$388M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$144M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$58.6M |
| 5 |
Apple
AAPL
|
+$23.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
B
Barrick Mining
B
|
+$45.1M |
| 2 |
Cencora
COR
|
+$18.6M |
| 3 |
GG
Goldcorp Inc
GG
|
+$17.8M |
| 4 |
Bread Financial
BFH
|
+$17.5M |
| 5 |
MetLife
MET
|
+$16.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.47% |
| 2 | Energy | 2.95% |
| 3 | Consumer Discretionary | 2.32% |
| 4 | Healthcare | 2.04% |
| 5 | Materials | 1.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Honeywell
HON
$77.5B
| – | – |
-23,590
| Closed | -$2.47M |
|
352
Henry Schein
HSIC
$9.68B
| – | – |
-5,865
| Closed | -$407K |
|
353
Host Hotels & Resorts
HST
$17B
| – | – |
-41,700
| Closed | -$676K |
|
354
International Flavors & Fragrances
IFF
$19.6B
| – | – |
-5,900
| Closed | -$744K |
|
355
Intuit
INTU
$83.5B
| – | – |
-48,611
| Closed | -$5.42M |
|
356
Gartner
IT
$9.95B
| – | – |
-9,300
| Closed | -$906K |
|
357
Jacobs Solutions
J
$15.9B
| – | – |
-21,278
| Closed | -$877K |
|
358
JB Hunt Transport Services
JBHT
$26.2B
| – | – |
-5,500
| Closed | -$445K |
|
359
Jabil
JBL
$32.3B
| – | – |
-27,000
| Closed | -$499K |
|
360
Johnson Controls International
JCI
$87.2B
| – | – |
-15,694
| Closed | -$727K |
|
361
Jack Henry & Associates
JKHY
$10.9B
| – | – |
-2,925
| Closed | -$255K |
|
362
Jones Lang LaSalle
JLL
$15.3B
| – | – |
-17,600
| Closed | -$1.72M |
|
363
KBR
KBR
$4.67B
| – | – |
-15,200
| Closed | -$201K |
|
364
KeyCorp
KEY
$24.1B
| – | – |
-120,100
| Closed | -$1.33M |
|
365
Loews
L
$24.4B
| – | – |
-9,500
| Closed | -$390K |
|
366
Lear
LEA
$7.24B
| – | – |
-15,100
| Closed | -$1.54M |
|
367
LKQ Corp
LKQ
$6.69B
| – | – |
-27,200
| Closed | -$862K |
|
368
Lockheed Martin
LMT
$135B
| – | – |
-1,400
| Closed | -$347K |
|
369
Lincoln National
LNC
$7.91B
| – | – |
-282,200
| Closed | -$10.9M |
|
370
Southwest Airlines
LUV
$22B
| – | – |
-29,954
| Closed | -$1.17M |
|
|
371
MetLife
MET
$61.3B
| – | – |
-465,680
| Closed | -$16.5M |
|
372
MGM Resorts International
MGM
$11.8B
| – | – |
-134,700
| Closed | -$3.05M |
|
373
Merck
MRK
$324B
| – | – |
-263,620
| Closed | -$14.5M |
|
374
MSC Industrial Direct
MSM
$7.02B
| – | – |
-11,400
| Closed | -$804K |
|
375
Mettler-Toledo International
MTD
$26.9B
| – | – |
-1,900
| Closed | -$693K |
|
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Bridgewater Associates's Q3 2016 Portfolio in Review
As of Q3 2016, Bridgewater Associates held 430 positions worth $10.2B, up 27% from $7.98B the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Bridgewater Associates deployed $1.72B of net new capital in Q3 2016, opening 90 new positions and adding to 107 existing holdings. Its largest new stake was iShares Core MSCI Emerging Markets ETF: 1,319,320 shares worth $60.2M.
By sector, the portfolio is most concentrated in Technology at 3.5% of assets, up from 3.1% a quarter earlier, followed by Energy and Consumer Discretionary.
On the sell side, the largest reduction was Cencora, an estimated $18.6M trimmed.
- Bridgewater Associates's largest Q3 2016 buy was iShares Core MSCI Emerging Markets ETF: 1,319,320 shares worth $60.2M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q3 2016, an estimated $1.2B increase.
- Bridgewater Associates's biggest Q3 2016 reduction was Cencora, cutting an estimated $18.6M.
- Bridgewater Associates fully exited Barrick Mining in Q3 2016, selling an estimated $45.1M.
- Bridgewater Associates's ten largest holdings make up 84% of its $10.2B portfolio in Q3 2016.
- Bridgewater Associates opened 90 new positions and closed 131 in Q3 2016.
- Bridgewater Associates's portfolio value rose 27% quarter-over-quarter to $10.2B.
Based on Bridgewater Associates's 13F filing for Q3 2016, filed 9 Nov 2016.