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 Brazil ETF
EWZ
|
+$86.6M |
| 2 |
LyondellBasell Industries
LYB
|
+$20.9M |
| 3 |
SPLS
Staples Inc
SPLS
|
+$20.2M |
| 4 |
B
Barrick Mining
B
|
+$16.1M |
| 5 |
Parker-Hannifin
PH
|
+$15M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$165M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$157M |
| 3 |
Micron Technology
MU
|
+$23.6M |
| 4 |
VMW
VMware, Inc
VMW
|
+$23.5M |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$21M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 3.64% |
| 2 | Energy | 3.29% |
| 3 | Technology | 3.08% |
| 4 | Consumer Discretionary | 3.06% |
| 5 | Healthcare | 3.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Rio Tinto
RIO
$148B
| $16.3M | 0.2% |
520,900
+4,000
| +0.8% | +$119K |
|
27
Toll Brothers
TOL
$13.9B
| $16.3M | 0.2% |
604,652
+46,652
| +8% | +$1.31M |
|
28
BP
BP
$113B
| $16.1M | 0.2% |
539,340
-19,372
| -3% | -$522K |
|
29
FedEx
FDX
$74.9B
| $16M | 0.2% |
105,536
+68,500
| +185% | +$11.1M |
|
30
BHP
BHP
$212B
| $15.8M | 0.2% |
618,692
-2,915
| -0.5% | -$72.6K |
|
31
Johnson & Johnson
JNJ
$634B
| $15.7M | 0.2% |
+129,700
| New | +$14.7M |
|
32
Chevron
CVX
$389B
| $15.3M | 0.19% |
146,000
-3,700
| -2% | -$372K |
|
33
Microsoft
MSFT
$2.85T
| $15.3M | 0.19% |
299,048
-341,200
| -53% | -$17.7M |
|
34
ExxonMobil
XOM
$651B
| $15.3M | 0.19% |
163,200
-5,600
| -3% | -$495K |
|
35
Occidental Petroleum
OXY
$57B
| $15.2M | 0.19% |
200,900
-9,100
| -4% | -$680K |
|
36
ConocoPhillips
COP
$147B
| $15M | 0.19% |
343,544
-16,500
| -5% | -$728K |
|
37
Merck
MRK
$325B
| $14.5M | 0.18% |
263,620
+42,758
| +19% | +$2.28M |
|
|
38
Parker-Hannifin
PH
$124B
| $14.4M | 0.18% |
+133,700
| New | +$15M |
|
39
Warner Bros
WBD
$66.6B
| $14.3M | 0.18% |
568,164
+481,727
| +557% | +$13.2M |
|
40
CVS Health
CVS
$137B
| $14.3M | 0.18% |
+149,700
| New | +$14.9M |
|
41
United Rentals
URI
$70.7B
| $14.2M | 0.18% |
211,276
-31,634
| -13% | -$2.07M |
|
42
Mondelez International
MDLZ
$77.8B
| $13.8M | 0.17% |
303,700
+67,065
| +28% | +$2.92M |
|
43
Bristol-Myers Squibb
BMY
$127B
| $13.7M | 0.17% |
186,454
+99,609
| +115% | +$7.04M |
|
44
EOG Resources
EOG
$78.2B
| $13.6M | 0.17% |
163,065
-11,200
| -6% | -$897K |
|
45
Kohl's
KSS
$2.07B
| $13.4M | 0.17% |
353,509
+264,342
| +296% | +$10.5M |
|
46
Imperial Oil
IMO
$62.3B
| $13.2M | 0.17% |
420,500
+150,500
| +56% | +$4.76M |
|
47
Motorola Solutions
MSI
$68.7B
| $13.1M | 0.16% |
198,230
+172,530
| +671% | +$12.3M |
|
48
McDonald's
MCD
$188B
| $12.9M | 0.16% |
106,987
-18,839
| -15% | -$2.36M |
|
49
Petrobras
PBR
$121B
| $12.9M | 0.16% |
1,797,900
-97,400
| -5% | -$645K |
|
|
ESV
50
DELISTED
Ensco Rowan plc
ESV
| $12.8M | 0.16% |
329,879
-145,887
| -31% | -$6.06M |
|
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Bridgewater Associates's Q2 2016 Portfolio in Review
As of Q2 2016, Bridgewater Associates held 392 positions worth $7.98B, up 0.98% from $7.9B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Bridgewater Associates's Q2 2016 filing shows 139 new, 92 increased, 106 reduced and 52 closed positions. Its largest new stake was Parker-Hannifin: 133,700 shares worth $14.4M. The largest sale was Vanguard FTSE Emerging Markets ETF, an estimated $165M.
By sector, the portfolio is most concentrated in Materials at 3.6% of assets, up from 2.3% a quarter earlier, followed by Energy and Technology.
- Bridgewater Associates's largest Q2 2016 buy was Parker-Hannifin: 133,700 shares worth $14.4M.
- Bridgewater Associates added most to iShares MSCI Brazil ETF in Q2 2016, an estimated $86.6M increase.
- Bridgewater Associates's biggest Q2 2016 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $165M.
- Bridgewater Associates fully exited Micron Technology in Q2 2016, selling an estimated $23.6M.
- Bridgewater Associates's ten largest holdings make up 79% of its $7.98B portfolio in Q2 2016.
- Bridgewater Associates opened 139 new positions and closed 52 in Q2 2016.
- Bridgewater Associates's portfolio value rose 0.98% quarter-over-quarter to $7.98B.
Based on Bridgewater Associates's 13F filing for Q2 2016, filed 10 Aug 2016.