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 |
Walmart Inc
WMT
|
+$71.2M |
| 2 |
Procter & Gamble
PG
|
+$68.3M |
| 3 |
Coca-Cola
KO
|
+$57.2M |
| 4 |
Lowe's Companies
LOW
|
+$50M |
| 5 |
PepsiCo
PEP
|
+$42.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$211M |
| 2 |
SPDR Gold Trust
GLD
|
+$211M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$186M |
| 4 |
iShares Core S&P 500 ETF
IVV
|
+$146M |
| 5 |
iShares Gold Trust
IAU
|
+$114M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.76% |
| 2 | Consumer Discretionary | 17.03% |
| 3 | Healthcare | 11.47% |
| 4 | Financials | 6.12% |
| 5 | Industrials | 2.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Colgate-Palmolive
CL
$74.8B
| $87.8M | 0.77% |
1,114,169
+212,672
| +24% | +$16.7M |
|
27
iShares MSCI Taiwan ETF
EWT
$9.13B
| $86M | 0.76% |
1,434,120
-51,606
| -3% | -$3M |
|
28
Baidu
BIDU
$35.7B
| $78.5M | 0.69% |
360,827
-140,909
| -28% | -$36.8M |
|
29
Bank of America
BAC
$429B
| $70.8M | 0.62% |
1,830,916
+431,445
| +31% | +$14.9M |
|
30
Kimberly-Clark
KMB
$37.6B
| $65.2M | 0.58% |
469,012
+113,822
| +32% | +$15.1M |
|
31
NIO
NIO
$11.9B
| $64.6M | 0.57% |
1,656,390
-304,219
| -16% | -$15.5M |
|
32
Monster Beverage
MNST
$95.1B
| $64.5M | 0.57% |
1,416,776
+255,282
| +22% | +$11.4M |
|
33
JPMorgan Chase
JPM
$916B
| $62.3M | 0.55% |
409,514
-3,241
| -0.8% | -$466K |
|
34
CVS Health
CVS
$135B
| $59.4M | 0.52% |
789,607
-28,172
| -3% | -$2.05M |
|
35
Intuitive Surgical
ISRG
$127B
| $59.1M | 0.52% |
240,111
+40,737
| +20% | +$10.2M |
|
36
Dollar General
DG
$28.4B
| $58M | 0.51% |
286,419
+24,973
| +10% | +$4.96M |
|
37
Vanguard FTSE Developed Markets ETF
VEA
$223B
| $56.3M | 0.5% |
1,146,401
-2,255,952
| -66% | -$110M |
|
38
Kraft Heinz
KHC
$32.8B
| $55.6M | 0.49% |
1,389,032
+125,847
| +10% | +$4.53M |
|
|
39
Lowe's Companies
LOW
$121B
| $55.4M | 0.49% |
+291,137
| New | +$50M |
|
40
iShares MSCI EAFE ETF
EFA
$76.4B
| $54.8M | 0.48% |
722,589
-1,422,006
| -66% | -$107M |
|
41
Wells Fargo
WFC
$254B
| $54.6M | 0.48% |
1,398,085
+683,420
| +96% | +$24.2M |
|
42
KE Holdings
BEKE
$17.7B
| $54.3M | 0.48% |
953,368
+176,084
| +23% | +$11.1M |
|
43
Veeva Systems
VEEV
$33.8B
| $53.1M | 0.47% |
203,435
+38,156
| +23% | +$10.6M |
|
44
Chipotle Mexican Grill
CMG
$43.9B
| $53.1M | 0.47% |
1,867,600
+346,600
| +23% | +$10M |
|
45
iShares Core MSCI EAFE ETF
IEFA
$186B
| $50.7M | 0.45% |
703,122
-1,383,435
| -66% | -$98.9M |
|
|
WBA
46
DELISTED
Walgreens Boots Alliance
WBA
| $49.8M | 0.44% |
907,657
+126,345
| +16% | +$6.24M |
|
47
Constellation Brands
STZ
$22.5B
| $49.7M | 0.44% |
218,076
+16,630
| +8% | +$3.75M |
|
48
Becton Dickinson
BDX
$46.4B
| $47.4M | 0.42% |
199,885
+49,943
| +33% | +$12.2M |
|
49
Stryker
SYK
$135B
| $46.2M | 0.41% |
189,719
+815
| +0.4% | +$195K |
|
50
Sysco
SYY
$40.8B
| $45.8M | 0.4% |
581,341
+81,920
| +16% | +$6.35M |
|
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Bridgewater Associates's Q1 2021 Portfolio in Review
As of Q1 2021, Bridgewater Associates held 652 positions worth $11.3B, down 1.9% from $11.6B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Bridgewater Associates withdrew a net $463M in Q1 2021, closing 197 positions and reducing 123 holdings. Its most notable exit was ServiceNow, an estimated $13.4M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Bridgewater Associates opened a new position in Lowe's Companies worth $55.4M.
- Bridgewater Associates's largest Q1 2021 buy was Lowe's Companies: 291,137 shares worth $55.4M.
- Bridgewater Associates added most to Walmart Inc in Q1 2021, an estimated $71.2M increase.
- Bridgewater Associates's biggest Q1 2021 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $211M.
- Bridgewater Associates fully exited ServiceNow in Q1 2021, selling an estimated $13.4M.
- Bridgewater Associates's ten largest holdings make up 39% of its $11.3B portfolio in Q1 2021.
- Bridgewater Associates opened 127 new positions and closed 197 in Q1 2021.
- Bridgewater Associates's portfolio value fell 1.9% quarter-over-quarter to $11.3B.
Based on Bridgewater Associates's 13F filing for Q1 2021, filed 14 May 2021.