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
|
+$199M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$82.8M |
| 3 |
American Express
AXP
|
+$20.2M |
| 4 |
RTX Corp
RTX
|
+$15.4M |
| 5 |
United Parcel Service
UPS
|
+$14.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$364M |
| 2 |
Microsoft
MSFT
|
+$34.2M |
| 3 |
Ventas
VTR
|
+$15M |
| 4 |
Intel
INTC
|
+$14.6M |
| 5 |
Conagra Brands
CAG
|
+$12.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.58% |
| 2 | Energy | 1.96% |
| 3 | Materials | 1.29% |
| 4 | Consumer Discretionary | 1.01% |
| 5 | Industrials | 0.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Occidental Petroleum
OXY
$57B
| $12.5M | 0.1% |
135,482
-34,653
| -20% | -$3.32M |
|
27
ExxonMobil
XOM
$651B
| $12.4M | 0.1% |
131,400
-41,771
| -24% | -$4.16M |
|
28
BP
BP
$113B
| $12.3M | 0.1% |
341,457
+30,074
| +10% | +$1.19M |
|
29
Chevron
CVX
$388B
| $12.3M | 0.1% |
102,800
+6,400
| +7% | +$817K |
|
30
Pultegroup
PHM
$24.5B
| $12.2M | 0.1% |
693,514
+92,700
| +15% | +$1.75M |
|
31
Kimberly-Clark
KMB
$36.4B
| $12.1M | 0.09% |
+117,023
| New | +$12.2M |
|
32
Rio Tinto
RIO
$148B
| $12M | 0.09% |
243,600
+21,300
| +10% | +$1.18M |
|
33
BHP
BHP
$213B
| $11.8M | 0.09% |
236,426
+33,233
| +16% | +$1.93M |
|
34
GE Aerospace
GE
$367B
| $11.7M | 0.09% |
95,484
-100,888
| -51% | -$12.6M |
|
35
Texas Instruments
TXN
$255B
| $11.1M | 0.09% |
233,680
-111,346
| -32% | -$5.34M |
|
36
Petrobras
PBR
$121B
| $11.1M | 0.09% |
783,600
-72,000
| -8% | -$1.2M |
|
37
Canadian Natural Resources
CNQ
$96.9B
| $11M | 0.09% |
583,123
-307,179
| -35% | -$6.34M |
|
38
Western Union
WU
$2.57B
| $10.8M | 0.08% |
675,389
+157,300
| +30% | +$2.71M |
|
39
Imperial Oil
IMO
$62.1B
| $10.6M | 0.08% |
223,800
-115,100
| -34% | -$5.91M |
|
40
Vale
VALE
$62.9B
| $10.4M | 0.08% |
942,100
+70,100
| +8% | +$936K |
|
|
RAD
41
DELISTED
Rite Aid Corporation
RAD
| $10.3M | 0.08% |
106,200
+94,510
| +808% | +$12.2M |
|
|
IPG
42
DELISTED
Interpublic Group of Companies
IPG
| $10.2M | 0.08% |
554,747
+318,500
| +135% | +$6.18M |
|
43
EOG Resources
EOG
$78B
| $10.1M | 0.08% |
102,300
-64,638
| -39% | -$7.03M |
|
44
Newmont
NEM
$98.2B
| $9.94M | 0.08% |
431,226
+10,300
| +2% | +$263K |
|
|
APC
45
DELISTED
Anadarko Petroleum
APC
| $9.48M | 0.07% |
93,500
+6,600
| +8% | +$712K |
|
46
HP
HPQ
$23.5B
| $9.41M | 0.07% |
583,970
+34,351
| +6% | +$557K |
|
47
Oracle
ORCL
$331B
| $9.23M | 0.07% |
241,182
-274,800
| -53% | -$11.1M |
|
48
Aflac
AFL
$63.9B
| $9.07M | 0.07% |
311,370
+198,198
| +175% | +$6.03M |
|
49
Johnson & Johnson
JNJ
$635B
| $8.97M | 0.07% |
84,193
+18,300
| +28% | +$1.9M |
|
|
WFM
50
DELISTED
Whole Foods Market Inc
WFM
| $8.86M | 0.07% |
232,521
-245,891
| -51% | -$9.39M |
|
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Bridgewater Associates's Q3 2014 Portfolio in Review
As of Q3 2014, Bridgewater Associates held 455 positions worth $12.8B, down 3.9% from $13.3B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Bridgewater Associates's Q3 2014 filing shows 152 new, 111 increased, 96 reduced and 92 closed positions. Its largest new stake was American Express: 224,123 shares worth $19.6M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $364M.
By sector, the portfolio is most concentrated in Technology at 2.6% of assets, down from 3% a quarter earlier, followed by Energy and Materials.
- Bridgewater Associates's largest Q3 2014 buy was American Express: 224,123 shares worth $19.6M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q3 2014, an estimated $199M increase.
- Bridgewater Associates's biggest Q3 2014 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $364M.
- Bridgewater Associates fully exited Conagra Brands in Q3 2014, selling an estimated $12.8M.
- Bridgewater Associates's ten largest holdings make up 90% of its $12.8B portfolio in Q3 2014.
- Bridgewater Associates opened 152 new positions and closed 92 in Q3 2014.
- Bridgewater Associates's portfolio value fell 3.9% quarter-over-quarter to $12.8B.
Based on Bridgewater Associates's 13F filing for Q3 2014, filed 12 Nov 2014.