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 MSCI Emerging Markets ETF
IEMG
|
+$162M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$150M |
| 3 |
Meta Platforms (Facebook)
META
|
+$79.3M |
| 4 |
Microsoft
MSFT
|
+$61.4M |
| 5 |
AbbVie
ABBV
|
+$58.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$218M |
| 2 |
Pinduoduo
PDD
|
+$136M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$111M |
| 4 |
Bank of America
BAC
|
+$106M |
| 5 |
Walmart Inc
WMT
|
+$104M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 28.42% |
| 2 | Healthcare | 21.25% |
| 3 | Consumer Discretionary | 10.73% |
| 4 | Financials | 6.5% |
| 5 | Communication Services | 4.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
Salesforce
CRM
$159B
| $1.28M | 0.01% |
+6,419
| New | +$1.08M |
|
|
ZH
527
Zhihu
ZH
$283M
| $1.28M | 0.01% |
+168,138
| New | +$1.56M |
|
528
HP
HPQ
$25.9B
| $1.27M | 0.01% |
43,301
-12,277
| -22% | -$352K |
|
529
Matsons
MATX
$6.48B
| $1.26M | 0.01% |
21,147
+16,102
| +319% | +$1.04M |
|
530
Avery Dennison
AVY
$13.2B
| $1.26M | 0.01% |
7,046
-14,471
| -67% | -$2.63M |
|
531
Mine Safety
MSA
$7.48B
| $1.26M | 0.01% |
9,441
+3,095
| +49% | +$417K |
|
532
Element Solutions
ESI
$9.27B
| $1.25M | 0.01% |
+64,526
| New | +$1.27M |
|
|
TGNA
533
DELISTED
TEGNA Inc
TGNA
| $1.24M | 0.01% |
+73,436
| New | +$1.37M |
|
534
Tootsie Roll Industries
TR
$2.98B
| $1.24M | 0.01% |
30,059
-5,489
| -15% | -$219K |
|
535
LeMaitre Vascular
LMAT
$2.05B
| $1.23M | 0.01% |
23,947
+975
| +4% | +$47.3K |
|
|
HSKA
536
DELISTED
Heska Corp
HSKA
| $1.22M | 0.01% |
12,534
+458
| +4% | +$38.4K |
|
537
Accenture
ACN
$105B
| $1.22M | 0.01% |
4,254
-42,459
| -91% | -$11.6M |
|
538
Agilent Technologies
A
$39.3B
| $1.21M | 0.01% |
8,739
+249
| +3% | +$36.4K |
|
539
Royalty Pharma
RPRX
$25.8B
| $1.2M | 0.01% |
33,437
-5,656
| -14% | -$210K |
|
540
BJ's Restaurants
BJRI
$1.43B
| $1.19M | 0.01% |
40,932
-2,489
| -6% | -$77.6K |
|
541
Weyerhaeuser
WY
$18.5B
| $1.19M | 0.01% |
39,434
+2,597
| +7% | +$81.9K |
|
542
Alexandria Real Estate Equities
ARE
$8.59B
| $1.19M | 0.01% |
9,459
-9,097
| -49% | -$1.34M |
|
543
Arista Networks
ANET
$252B
| $1.17M | 0.01% |
27,888
+5,516
| +25% | +$190K |
|
|
ACCD
544
DELISTED
Accolade Inc
ACCD
| $1.16M | 0.01% |
80,708
+3,883
| +5% | +$44K |
|
545
Aptiv
APTV
$9.94B
| $1.15M | 0.01% |
10,283
+4,198
| +69% | +$463K |
|
|
IPG
546
DELISTED
Interpublic Group of Companies
IPG
| $1.15M | 0.01% |
+30,789
| New | +$1.11M |
|
|
SNBR
547
DELISTED
Sleep Number
SNBR
| $1.14M | 0.01% |
+37,503
| New | +$1.23M |
|
548
HF Sinclair
DINO
$15.6B
| $1.11M | 0.01% |
+23,014
| New | +$1.2M |
|
549
Semtech
SMTC
$11.8B
| $1.11M | 0.01% |
46,065
+23,092
| +101% | +$722K |
|
|
CCRN
550
DELISTED
Cross Country Healthcare
CCRN
| $1.11M | 0.01% |
49,785
+8,367
| +20% | +$219K |
|
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Bridgewater Associates's Q1 2023 Portfolio in Review
As of Q1 2023, Bridgewater Associates held 938 positions worth $16.4B, down 11% from $18.3B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Bridgewater Associates withdrew a net $2.44B in Q1 2023, closing 228 positions and reducing 360 holdings. Its most notable exit was Bank of America, an estimated $106M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Bridgewater Associates opened a new position in Home Depot worth $43.5M.
- Bridgewater Associates's largest Q1 2023 buy was Home Depot: 147,495 shares worth $43.5M.
- Bridgewater Associates added most to iShares Core MSCI Emerging Markets ETF in Q1 2023, an estimated $162M increase.
- Bridgewater Associates's biggest Q1 2023 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $218M.
- Bridgewater Associates fully exited Bank of America in Q1 2023, selling an estimated $106M.
- Bridgewater Associates's ten largest holdings make up 35% of its $16.4B portfolio in Q1 2023.
- Bridgewater Associates opened 118 new positions and closed 228 in Q1 2023.
- Bridgewater Associates's portfolio value fell 11% quarter-over-quarter to $16.4B.
Based on Bridgewater Associates's 13F filing for Q1 2023, filed 12 May 2023.