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 |
Alibaba
BABA
|
+$623M |
| 2 |
SPDR Gold Trust
GLD
|
+$293M |
| 3 |
ServiceNow
NOW
|
+$172M |
| 4 |
Booking.com
BKNG
|
+$170M |
| 5 |
Baidu
BIDU
|
+$169M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$2.87B |
| 2 |
Applovin
APP
|
+$168M |
| 3 |
Meta Platforms (Facebook)
META
|
+$126M |
| 4 |
McKesson
MCK
|
+$107M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$105M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.81% |
| 2 | Consumer Discretionary | 12.96% |
| 3 | Financials | 12.67% |
| 4 | Communication Services | 7.72% |
| 5 | Healthcare | 7.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Knight Transportation
KNX
$11.6B
| $4.5M | 0.02% |
103,514
+81,649
| +373% | +$4.21M |
|
377
Bank of Montreal
BMO
$127B
| $4.48M | 0.02% |
+46,941
| New | +$4.64M |
|
378
Monster Beverage
MNST
$92.4B
| $4.45M | 0.02% |
76,042
-203,727
| -73% | -$10.6M |
|
379
UGI
UGI
$7.62B
| $4.44M | 0.02% |
+134,296
| New | +$4.25M |
|
380
Union Pacific
UNP
$175B
| $4.41M | 0.02% |
18,676
+16,513
| +763% | +$3.97M |
|
381
Lear
LEA
$6.2B
| $4.4M | 0.02% |
49,877
+46,280
| +1,287% | +$4.39M |
|
382
Atlassian
TEAM
$28B
| $4.39M | 0.02% |
+20,665
| New | +$5.45M |
|
383
First American
FAF
$7.68B
| $4.35M | 0.02% |
+66,292
| New | +$4.2M |
|
384
General Dynamics
GD
$103B
| $4.34M | 0.02% |
+15,912
| New | +$4.14M |
|
385
Paycom
PAYC
$8.11B
| $4.34M | 0.02% |
+19,850
| New | +$4.19M |
|
386
Labcorp
LH
$25.4B
| $4.2M | 0.02% |
18,051
-18,401
| -50% | -$4.47M |
|
387
Sanmina
SANM
$11B
| $4.14M | 0.02% |
54,328
-21,320
| -28% | -$1.73M |
|
388
Abercrombie & Fitch
ANF
$4.83B
| $4.1M | 0.02% |
53,730
-220,413
| -80% | -$23.7M |
|
389
Moody's
MCO
$83.8B
| $4.1M | 0.02% |
8,808
-4,577
| -34% | -$2.21M |
|
390
Rambus
RMBS
$10.8B
| $4.04M | 0.02% |
78,079
+70,934
| +993% | +$4.17M |
|
391
Peabody Energy
BTU
$2.82B
| $3.98M | 0.02% |
294,091
+221,140
| +303% | +$3.56M |
|
392
Weatherford International
WFRD
$6.3B
| $3.92M | 0.02% |
+73,277
| New | +$4.65M |
|
393
Vanguard S&P 500 ETF
VOO
$1.01T
| $3.91M | 0.02% |
+7,605
| New | +$4.11M |
|
394
Darden Restaurants
DRI
$23.8B
| $3.87M | 0.02% |
18,612
-15,172
| -45% | -$2.93M |
|
395
Corteva
CTVA
$53.2B
| $3.84M | 0.02% |
61,033
-227,597
| -79% | -$14.1M |
|
396
Canadian Imperial Bank of Commerce
CM
$108B
| $3.83M | 0.02% |
68,078
+48,434
| +247% | +$2.92M |
|
397
Cencora
COR
$61.4B
| $3.8M | 0.02% |
13,673
-183,863
| -93% | -$46.2M |
|
398
CarGurus
CARG
$3.3B
| $3.69M | 0.02% |
126,513
+96,835
| +326% | +$3.39M |
|
399
iShares MSCI Mexico ETF
EWW
$1.99B
| $3.62M | 0.02% |
71,118
-972,875
| -93% | -$49.1M |
|
400
Target
TGT
$66.9B
| $3.61M | 0.02% |
34,637
-127,424
| -79% | -$15.9M |
|
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Bridgewater Associates's Q1 2025 Portfolio in Review
As of Q1 2025, Bridgewater Associates held 814 positions worth $21.6B, down 1.2% from $21.8B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bridgewater Associates's Q1 2025 filing shows 123 new, 283 increased, 252 reduced and 150 closed positions. Its largest new stake was SPDR Gold Trust: 1,106,395 shares worth $319M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $2.87B.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Financials.
- Bridgewater Associates's largest Q1 2025 buy was SPDR Gold Trust: 1,106,395 shares worth $319M.
- Bridgewater Associates added most to Alibaba in Q1 2025, an estimated $623M increase.
- Bridgewater Associates's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $2.87B.
- Bridgewater Associates fully exited ON Semiconductor in Q1 2025, selling an estimated $42.7M.
- Bridgewater Associates's ten largest holdings make up 32% of its $21.6B portfolio in Q1 2025.
- Bridgewater Associates opened 123 new positions and closed 150 in Q1 2025.
- Bridgewater Associates's portfolio value fell 1.2% quarter-over-quarter to $21.6B.
Based on Bridgewater Associates's 13F filing for Q1 2025, filed 14 May 2025.