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
|
+$253M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$149M |
| 3 |
Apple
AAPL
|
+$22.9M |
| 4 |
GE Aerospace
GE
|
+$22.3M |
| 5 |
JNPR
Juniper Networks
JNPR
|
+$20.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gen Digital
GEN
|
+$22.1M |
| 2 |
Johnson & Johnson
JNJ
|
+$19.9M |
| 3 |
Cisco
CSCO
|
+$14M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$11.7M |
| 5 |
CELG
Celgene Corp
CELG
|
+$9.94M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.04% |
| 2 | Energy | 2.47% |
| 3 | Materials | 1.34% |
| 4 | Industrials | 0.97% |
| 5 | Consumer Discretionary | 0.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GG
26
DELISTED
Goldcorp Inc
GG
| $14.7M | 0.11% |
526,707
+11,200
| +2% | +$278K |
|
27
Coca-Cola
KO
$352B
| $14.7M | 0.11% |
+346,874
| New | +$14.1M |
|
|
BBBY
28
DELISTED
Bed Bath & Beyond Inc
BBBY
| $14.6M | 0.11% |
+255,200
| New | +$15.9M |
|
|
B
29
Barrick Mining
B
$63B
| $14M | 0.11% |
765,400
+59,100
| +8% | +$1.02M |
|
30
Qualcomm
QCOM
$179B
| $13.9M | 0.1% |
175,965
-22,900
| -12% | -$1.82M |
|
31
BP
BP
$113B
| $13.4M | 0.1% |
311,383
| – | – |
|
32
EQT Corp
EQT
$33.4B
| $13.1M | 0.1% |
225,167
+173,364
| +335% | +$9.94M |
|
33
Conagra Brands
CAG
$7.03B
| $12.8M | 0.1% |
554,840
-149,095
| -21% | -$3.61M |
|
34
Chevron
CVX
$388B
| $12.6M | 0.09% |
96,400
| – | – |
|
35
PepsiCo
PEP
$186B
| $12.6M | 0.09% |
140,477
+60,900
| +77% | +$5.26M |
|
36
Petrobras
PBR
$122B
| $12.5M | 0.09% |
855,600
-151,700
| -15% | -$2.21M |
|
|
37
Cisco
CSCO
$450B
| $12.3M | 0.09% |
495,180
-585,600
| -54% | -$14M |
|
38
Pultegroup
PHM
$24.3B
| $12.1M | 0.09% |
600,814
+132,300
| +28% | +$2.54M |
|
39
Rio Tinto
RIO
$150B
| $12.1M | 0.09% |
222,300
+7,500
| +3% | +$407K |
|
40
Carnival Corporation Ltd
CCL
$36.6B
| $12M | 0.09% |
319,835
+107,000
| +50% | +$4.14M |
|
|
XLNX
41
DELISTED
Xilinx Inc
XLNX
| $11.9M | 0.09% |
251,379
+219,000
| +676% | +$10.5M |
|
42
BHP
BHP
$213B
| $11.8M | 0.09% |
203,193
+2,247
| +1% | +$132K |
|
43
Pfizer
PFE
$140B
| $11.7M | 0.09% |
414,230
+296,068
| +251% | +$8.44M |
|
44
Welltower
WELL
$176B
| $11.6M | 0.09% |
185,647
+11,754
| +7% | +$740K |
|
45
Vale
VALE
$63.3B
| $11.5M | 0.09% |
872,000
+17,200
| +2% | +$232K |
|
46
Freeport-McMoran
FCX
$90.4B
| $11.1M | 0.08% |
305,185
-62,900
| -17% | -$2.15M |
|
47
Newmont
NEM
$101B
| $10.7M | 0.08% |
420,926
+23,000
| +6% | +$554K |
|
|
CHK
48
DELISTED
Chesapeake Energy Corporation
CHK
| $10.2M | 0.08% |
1,728
-303
| -15% | -$1.65M |
|
49
NetApp
NTAP
$33.1B
| $9.96M | 0.07% |
272,647
+71,843
| +36% | +$2.57M |
|
50
Cenovus Energy
CVE
$54.7B
| $9.85M | 0.07% |
303,300
+61,300
| +25% | +$1.82M |
|
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Bridgewater Associates's Q2 2014 Portfolio in Review
As of Q2 2014, Bridgewater Associates held 404 positions worth $13.3B, up 9.2% from $12.2B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Bridgewater Associates deployed $438M of net new capital in Q2 2014, opening 65 new positions and adding to 128 existing holdings. Its largest new stake was Bed Bath & Beyond Inc: 255,200 shares worth $14.6M.
By sector, the portfolio is most concentrated in Technology at 3% of assets, up from 2.6% a quarter earlier, followed by Energy and Materials.
On the sell side, the largest reduction was Gen Digital, an estimated $22.1M trimmed.
- Bridgewater Associates's largest Q2 2014 buy was Bed Bath & Beyond Inc: 255,200 shares worth $14.6M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q2 2014, an estimated $253M increase.
- Bridgewater Associates's biggest Q2 2014 reduction was Gen Digital, cutting an estimated $22.1M.
- Bridgewater Associates fully exited Berkshire Hathaway Class B in Q2 2014, selling an estimated $11.7M.
- Bridgewater Associates's ten largest holdings make up 90% of its $13.3B portfolio in Q2 2014.
- Bridgewater Associates opened 65 new positions and closed 101 in Q2 2014.
- Bridgewater Associates's portfolio value rose 9.2% quarter-over-quarter to $13.3B.
Based on Bridgewater Associates's 13F filing for Q2 2014, filed 12 Aug 2014.