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
|
+$219M |
| 2 |
Gilead Sciences
GILD
|
+$30.6M |
| 3 |
Microsoft
MSFT
|
+$27.5M |
| 4 |
POT
Potash Corp Of Saskatchewan
POT
|
+$20.5M |
| 5 |
Eastman Chemical
EMN
|
+$19.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$384M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$62M |
| 3 |
Apple
AAPL
|
+$30.1M |
| 4 |
RTX Corp
RTX
|
+$20.5M |
| 5 |
Fossil Group
FOSL
|
+$20M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.42% |
| 2 | Energy | 2.21% |
| 3 | Materials | 2.04% |
| 4 | Healthcare | 1.26% |
| 5 | Industrials | 0.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Harmony Gold Mining
HMY
$9.92B
| – | – |
-398,200
| Closed | -$860K |
|
377
Helmerich & Payne
HP
$3.36B
| – | – |
-20,400
| Closed | -$2M |
|
378
HP
HPQ
$24.3B
| – | – |
-583,970
| Closed | -$9.41M |
|
379
Henry Schein
HSIC
$9.64B
| – | – |
-5,738
| Closed | -$262K |
|
380
IAMGOLD
IAG
$8.5B
| – | – |
-345,700
| Closed | -$959K |
|
381
Idexx Laboratories
IDXX
$43.9B
| – | – |
-14,226
| Closed | -$838K |
|
382
Ingredion
INGR
$6.4B
| – | – |
-3,909
| Closed | -$296K |
|
383
Invesco
IVZ
$13.3B
| – | – |
-9,600
| Closed | -$379K |
|
384
Jacobs Solutions
J
$16B
| – | – |
-31,410
| Closed | -$1.27M |
|
385
Kimco Realty
KIM
$17.8B
| – | – |
-14,600
| Closed | -$320K |
|
386
Kimberly-Clark
KMB
$37B
| – | – |
-117,023
| Closed | -$12.1M |
|
387
CarMax
KMX
$8.29B
| – | – |
-25,314
| Closed | -$1.18M |
|
388
Coca-Cola
KO
$362B
| – | – |
-343,474
| Closed | -$14.7M |
|
389
Lear
LEA
$7.26B
| – | – |
-15,700
| Closed | -$1.36M |
|
390
Meta Platforms (Facebook)
META
$1.51T
| – | – |
-17,600
| Closed | -$1.39M |
|
391
3M
MMM
$91.9B
| – | – |
-54,401
| Closed | -$6.44M |
|
392
Monster Beverage
MNST
$93.2B
| – | – |
-466,272
| Closed | -$7.12M |
|
393
Altria Group
MO
$122B
| – | – |
-4,500
| Closed | -$207K |
|
394
Marathon Petroleum
MPC
$91.2B
| – | – |
-4,800
| Closed | -$203K |
|
395
NNN REIT
NNN
$9.36B
| – | – |
-8,584
| Closed | -$297K |
|
396
Realty Income
O
$61.1B
| – | – |
-10,271
| Closed | -$406K |
|
397
Oceaneering
OII
$5.19B
| – | – |
-8,031
| Closed | -$523K |
|
|
PARA
398
DELISTED
Paramount Global Class B
PARA
| – | – |
-138,684
| Closed | -$7.42M |
|
399
Packaging Corp of America
PKG
$22.5B
| – | – |
-14,500
| Closed | -$925K |
|
400
PPG Industries
PPG
$26.4B
| – | – |
-46,178
| Closed | -$4.54M |
|
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Bridgewater Associates's Q4 2014 Portfolio in Review
As of Q4 2014, Bridgewater Associates held 456 positions worth $12.5B, down 2.4% from $12.8B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Bridgewater Associates's Q4 2014 filing shows 93 new, 144 increased, 94 reduced and 121 closed positions. Its largest new stake was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $384M.
By sector, the portfolio is most concentrated in Technology at 2.4% of assets, down from 2.6% a quarter earlier, followed by Energy and Materials.
- Bridgewater Associates's largest Q4 2014 buy was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M.
- Bridgewater Associates added most to Vanguard FTSE Emerging Markets ETF in Q4 2014, an estimated $219M increase.
- Bridgewater Associates's biggest Q4 2014 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $384M.
- Bridgewater Associates fully exited United Parcel Service in Q4 2014, selling an estimated $14.7M.
- Bridgewater Associates's ten largest holdings make up 89% of its $12.5B portfolio in Q4 2014.
- Bridgewater Associates opened 93 new positions and closed 121 in Q4 2014.
- Bridgewater Associates's portfolio value fell 2.4% quarter-over-quarter to $12.5B.
Based on Bridgewater Associates's 13F filing for Q4 2014, filed 11 Feb 2015.