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 | |
|---|---|---|---|---|---|---|
376
NNN REIT
NNN
$9.4B
| – | – |
-12,600
| Closed | -$433K |
|
377
Northrop Grumman
NOC
$78.2B
| – | – |
-78,936
| Closed | -$6.54M |
|
378
NVIDIA
NVDA
$4.77T
| – | – |
-8,456,200
| Closed | -$2.97M |
|
379
Newell Brands
NWL
$2.22B
| – | – |
-24,200
| Closed | -$635K |
|
380
Realty Income
O
$61.7B
| – | – |
-17,957
| Closed | -$729K |
|
381
Oceaneering
OII
$4.79B
| – | – |
-3,131
| Closed | -$226K |
|
382
Oneok
OKE
$55.8B
| – | – |
-15,305
| Closed | -$554K |
|
383
PepsiCo
PEP
$195B
| – | – |
-52,486
| Closed | -$4.29M |
|
384
Principal Financial Group
PFG
$24.6B
| – | – |
-6,600
| Closed | -$247K |
|
385
Philip Morris
PM
$315B
| – | – |
-6,000
| Closed | -$520K |
|
386
Pinnacle West Capital
PNW
$12.9B
| – | – |
-10,400
| Closed | -$577K |
|
387
Public Storage
PSA
$62.3B
| – | – |
-3,700
| Closed | -$567K |
|
388
Phillips 66
PSX
$83.1B
| – | – |
-18,450
| Closed | -$1.09M |
|
389
Quanta Services
PWR
$87.8B
| – | – |
-13,200
| Closed | -$349K |
|
390
Royal Caribbean
RCL
$86.3B
| – | – |
-15,700
| Closed | -$523K |
|
391
Regeneron Pharmaceuticals
REGN
$72.1B
| – | – |
-4,100
| Closed | -$922K |
|
392
Transocean
RIG
$5.62B
| – | – |
-10,178
| Closed | -$488K |
|
393
Republic Services
RSG
$66.9B
| – | – |
-7,935
| Closed | -$269K |
|
394
Rayonier
RYN
$6.62B
| – | – |
-7,232
| Closed | -$271K |
|
395
SBA Communications
SBAC
$18.9B
| – | – |
-7,400
| Closed | -$548K |
|
396
SITE Centers
SITC
$238M
| – | – |
-29,026
| Closed | -$623K |
|
397
SL Green Realty
SLG
$3.76B
| – | – |
-3,822
| Closed | -$326K |
|
398
SPX Corp
SPXC
$10.3B
| – | – |
-33,317
| Closed | -$604K |
|
399
Starwood Property Trust
STWD
$6.19B
| – | – |
-39,314
| Closed | -$785K |
|
400
Molson Coors Class B
TAP
$7.96B
| – | – |
-6,700
| Closed | -$321K |
|
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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.