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 Core S&P 500 ETF
IVV
|
+$236M |
| 2 |
CVS Health
CVS
|
+$189M |
| 3 |
Mastercard
MA
|
+$155M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$112M |
| 5 |
Meta Platforms (Facebook)
META
|
+$111M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$814M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$763M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$315M |
| 4 |
SPDR Gold Trust
GLD
|
+$140M |
| 5 |
JD.com
JD
|
+$124M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 25.96% |
| 2 | Healthcare | 19.03% |
| 3 | Consumer Discretionary | 12.6% |
| 4 | Financials | 7.27% |
| 5 | Communication Services | 3.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Mastercard
MA
$477B
| $153M | 0.65% |
485,269
+449,101
| +1,242% | +$155M |
|
27
Sysco
SYY
$39.7B
| $142M | 0.6% |
1,680,731
+228,697
| +16% | +$19.2M |
|
28
General Mills
GIS
$19.2B
| $134M | 0.57% |
1,780,147
+567,715
| +47% | +$39.8M |
|
29
Li Auto
LI
$12.6B
| $125M | 0.53% |
3,267,912
-88,193
| -3% | -$2.36M |
|
30
Stryker
SYK
$127B
| $125M | 0.53% |
629,041
+76,814
| +14% | +$18M |
|
31
Monster Beverage
MNST
$91.4B
| $125M | 0.53% |
2,687,690
+574,276
| +27% | +$25M |
|
32
Kimberly-Clark
KMB
$36.4B
| $122M | 0.52% |
901,921
-88,252
| -9% | -$11.6M |
|
33
Intuitive Surgical
ISRG
$121B
| $120M | 0.51% |
599,155
+72,661
| +14% | +$17M |
|
34
Merck
MRK
$324B
| $120M | 0.51% |
1,318,347
+534,277
| +68% | +$47.4M |
|
35
NIO
NIO
$11.3B
| $120M | 0.51% |
5,526,122
+202,598
| +4% | +$3.72M |
|
36
Chipotle Mexican Grill
CMG
$40.8B
| $119M | 0.5% |
4,533,200
+810,250
| +22% | +$22.6M |
|
37
iShares MBS ETF
MBB
$39B
| $117M | 0.5% |
1,203,800
+559,700
| +87% | +$54.9M |
|
38
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
| $112M | 0.47% |
1,016,200
+17,800
| +2% | +$2.01M |
|
39
Becton Dickinson
BDX
$43.1B
| $110M | 0.47% |
447,595
-68,899
| -13% | -$17.5M |
|
40
Kraft Heinz
KHC
$30.4B
| $108M | 0.46% |
2,844,046
+587,685
| +26% | +$23.5M |
|
|
41
Alphabet (Google) Class A
GOOGL
$3.91T
| $107M | 0.45% |
983,960
+948,500
| +2,675% | +$112M |
|
42
Chevron
CVX
$388B
| $103M | 0.44% |
711,243
+276,878
| +64% | +$45.8M |
|
43
Dollar Tree
DLTR
$23.1B
| $99.4M | 0.42% |
638,025
+7,337
| +1% | +$1.16M |
|
44
Kroger
KR
$34.8B
| $99.3M | 0.42% |
2,097,044
+276,149
| +15% | +$14.7M |
|
45
Veeva Systems
VEEV
$30.3B
| $98.5M | 0.42% |
497,587
+109,037
| +28% | +$20.1M |
|
46
ConocoPhillips
COP
$147B
| $97.6M | 0.41% |
1,086,799
+718,641
| +195% | +$74M |
|
47
Visa
V
$677B
| $96.8M | 0.41% |
491,739
+32,456
| +7% | +$6.71M |
|
48
Constellation Brands
STZ
$22.2B
| $96.4M | 0.41% |
413,813
-26,716
| -6% | -$6.5M |
|
49
Edwards Lifesciences
EW
$47.6B
| $94.6M | 0.4% |
995,357
-139,899
| -12% | -$14.5M |
|
|
50
Meta Platforms (Facebook)
META
$1.51T
| $94.6M | 0.4% |
586,655
+575,748
| +5,279% | +$111M |
|
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Bridgewater Associates's Q2 2022 Portfolio in Review
As of Q2 2022, Bridgewater Associates held 1,084 positions worth $23.6B, down 4.9% from $24.8B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Bridgewater Associates deployed $1.38B of net new capital in Q2 2022, opening 116 new positions and adding to 613 existing holdings. Its largest new stake was Sea Limited: 459,240 shares worth $30.7M.
By sector, the portfolio is most concentrated in Consumer Staples at 26% of assets, up from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was iShares MSCI Emerging Markets ETF, an estimated $763M trimmed.
- Bridgewater Associates's largest Q2 2022 buy was Sea Limited: 459,240 shares worth $30.7M.
- Bridgewater Associates added most to iShares Core S&P 500 ETF in Q2 2022, an estimated $236M increase.
- Bridgewater Associates's biggest Q2 2022 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $763M.
- Bridgewater Associates fully exited Alibaba in Q2 2022, selling an estimated $814M.
- Bridgewater Associates's ten largest holdings make up 29% of its $23.6B portfolio in Q2 2022.
- Bridgewater Associates opened 116 new positions and closed 99 in Q2 2022.
- Bridgewater Associates's portfolio value fell 4.9% quarter-over-quarter to $23.6B.
Based on Bridgewater Associates's 13F filing for Q2 2022, filed 11 Aug 2022.