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
|
+$118M |
| 2 |
JPMorgan Chase
JPM
|
+$87.7M |
| 3 |
Bank of America
BAC
|
+$66.7M |
| 4 |
Citigroup
C
|
+$58.3M |
| 5 |
Wells Fargo
WFC
|
+$33.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$227M |
| 2 |
Johnson & Johnson
JNJ
|
+$198M |
| 3 |
Coca-Cola
KO
|
+$184M |
| 4 |
PepsiCo
PEP
|
+$179M |
| 5 |
McDonald's
MCD
|
+$141M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.91% |
| 2 | Healthcare | 19.75% |
| 3 | Financials | 10.48% |
| 4 | Consumer Discretionary | 9.62% |
| 5 | Communication Services | 3.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
676
CrowdStrike
CRWD
$206B
| $752K | ﹤0.01% |
28,560
| – | – |
|
677
Charles River Laboratories
CRL
$11.1B
| $751K | ﹤0.01% |
3,445
+1,392
| +68% | +$304K |
|
|
HSKA
678
DELISTED
Heska Corp
HSKA
| $751K | ﹤0.01% |
12,076
-4,122
| -25% | -$278K |
|
679
Cerus
CERS
$433M
| $742K | ﹤0.01% |
203,217
-69,174
| -25% | -$261K |
|
|
DFS
680
DELISTED
Discover Financial Services
DFS
| $723K | ﹤0.01% |
7,395
-9,952
| -57% | -$1M |
|
|
MDRX
681
DELISTED
Veradigm Inc. Common Stock
MDRX
| $712K | ﹤0.01% |
+40,367
| New | +$676K |
|
682
GameStop
GME
$8.55B
| $712K | ﹤0.01% |
38,561
+25,408
| +193% | +$623K |
|
683
Carlisle Companies
CSL
$14.8B
| $698K | ﹤0.01% |
+2,963
| New | +$762K |
|
684
Roku
ROKU
$21.6B
| $696K | ﹤0.01% |
17,111
+11,059
| +183% | +$578K |
|
685
GoDaddy
GDDY
$11.2B
| $688K | ﹤0.01% |
9,197
-2,721
| -23% | -$204K |
|
686
Castle Biosciences
CSTL
$928M
| $687K | ﹤0.01% |
29,167
-8,554
| -23% | -$198K |
|
|
OSH
687
DELISTED
Oak Street Health, Inc.
OSH
| $685K | ﹤0.01% |
31,853
-3,325
| -9% | -$69.5K |
|
688
Arista Networks
ANET
$233B
| $679K | ﹤0.01% |
22,372
-10,448
| -32% | -$322K |
|
689
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$6.9B
| $675K | ﹤0.01% |
7,497
| – | – |
|
690
Gaming and Leisure Properties
GLPI
$12.7B
| $675K | ﹤0.01% |
12,952
+3,075
| +31% | +$153K |
|
691
Fulgent Genetics
FLGT
$500M
| $673K | ﹤0.01% |
22,592
-10,726
| -32% | -$384K |
|
692
Illumina
ILMN
$29.9B
| $668K | ﹤0.01% |
3,395
-8
| -0.2% | -$1.66K |
|
693
Range Resources
RRC
$9.43B
| $666K | ﹤0.01% |
26,636
-98,342
| -79% | -$2.69M |
|
694
Darling Ingredients
DAR
$9.5B
| $663K | ﹤0.01% |
10,592
-11,115
| -51% | -$784K |
|
695
Semtech
SMTC
$11.1B
| $659K | ﹤0.01% |
22,973
+14,769
| +180% | +$419K |
|
696
IQVIA
IQV
$38.4B
| $659K | ﹤0.01% |
3,215
-20
| -0.6% | -$4.06K |
|
|
CSII
697
DELISTED
Cardiovascular Systems, Inc.
CSII
| $649K | ﹤0.01% |
47,681
-14,691
| -24% | -$205K |
|
698
Watts Water Technologies
WTS
$11.7B
| $648K | ﹤0.01% |
4,430
+714
| +19% | +$103K |
|
|
PDM
699
Piedmont Realty Trust
PDM
$1.24B
| $645K | ﹤0.01% |
70,318
+42,811
| +156% | +$423K |
|
|
API
700
Agora
API
$344M
| $633K | ﹤0.01% |
162,018
-2,834
| -2% | -$9.35K |
|
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Bridgewater Associates's Q4 2022 Portfolio in Review
As of Q4 2022, Bridgewater Associates held 953 positions worth $18.3B, down 7.3% from $19.8B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bridgewater Associates withdrew a net $3.25B in Q4 2022, closing 133 positions and reducing 457 holdings. Its most notable exit was Advanced Micro Devices, an estimated $45.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, down from 30% a quarter earlier, followed by Healthcare and Financials.
Against the trend, Bridgewater Associates opened a new position in JPMorgan Chase worth $92.8M.
- Bridgewater Associates's largest Q4 2022 buy was JPMorgan Chase: 692,356 shares worth $92.8M.
- Bridgewater Associates added most to iShares Core S&P 500 ETF in Q4 2022, an estimated $118M increase.
- Bridgewater Associates's biggest Q4 2022 reduction was Procter & Gamble, cutting an estimated $227M.
- Bridgewater Associates fully exited Advanced Micro Devices in Q4 2022, selling an estimated $45.8M.
- Bridgewater Associates's ten largest holdings make up 32% of its $18.3B portfolio in Q4 2022.
- Bridgewater Associates opened 87 new positions and closed 133 in Q4 2022.
- Bridgewater Associates's portfolio value fell 7.3% quarter-over-quarter to $18.3B.
Based on Bridgewater Associates's 13F filing for Q4 2022, filed 13 Feb 2023.