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 | |
|---|---|---|---|---|---|---|
676
Flex
FLEX
$46.8B
| $309K | ﹤0.01% |
+17,836
| New | +$309K |
|
677
Upbound Group
UPBD
$1.2B
| $293K | ﹤0.01% |
+11,969
| New | +$308K |
|
678
UDR
UDR
$12.4B
| $282K | ﹤0.01% |
6,857
-43,197
| -86% | -$1.78M |
|
679
iShares MSCI Brazil ETF
EWZ
$9.14B
| $279K | ﹤0.01% |
+10,176
| New | +$285K |
|
680
Asbury Automotive
ABG
$4B
| $276K | ﹤0.01% |
1,312
-1,827
| -58% | -$387K |
|
681
Terex
TEX
$7.55B
| $275K | ﹤0.01% |
+5,674
| New | +$290K |
|
682
Bloomin' Brands
BLMN
$764M
| $274K | ﹤0.01% |
+10,678
| New | +$265K |
|
|
HPP
683
Hudson Pacific Properties
HPP
$758M
| $273K | ﹤0.01% |
5,868
+2,588
| +79% | +$166K |
|
684
Kohl's
KSS
$2.28B
| $273K | ﹤0.01% |
+11,577
| New | +$327K |
|
685
Wabash National
WNC
$507M
| $270K | ﹤0.01% |
+10,962
| New | +$284K |
|
686
Armstrong World Industries
AWI
$7.74B
| $261K | ﹤0.01% |
3,666
-1,284
| -26% | -$96.1K |
|
687
Oracle
ORCL
$420B
| $261K | ﹤0.01% |
2,809
-310
| -10% | -$27.2K |
|
688
Mettler-Toledo International
MTD
$28.8B
| $259K | ﹤0.01% |
+169
| New | +$254K |
|
689
Alnylam Pharmaceuticals
ALNY
$29.3B
| $251K | ﹤0.01% |
+1,255
| New | +$264K |
|
690
Equity Lifestyle Properties
ELS
$12.6B
| $250K | ﹤0.01% |
3,721
-4,643
| -56% | -$315K |
|
691
Compass Minerals
CMP
$1.25B
| $237K | ﹤0.01% |
6,925
+1,680
| +32% | +$67.2K |
|
692
Applied Materials
AMAT
$434B
| $232K | ﹤0.01% |
+1,889
| New | +$217K |
|
693
PG&E
PCG
$38.4B
| $224K | ﹤0.01% |
+13,881
| New | +$219K |
|
694
Pentair
PNR
$10.9B
| $221K | ﹤0.01% |
+3,994
| New | +$212K |
|
695
CNA Financial
CNA
$14.3B
| $218K | ﹤0.01% |
5,589
-6,471
| -54% | -$271K |
|
696
Jefferies Financial Group
JEF
$12.8B
| $217K | ﹤0.01% |
6,851
-150,687
| -96% | -$5.44M |
|
|
BDN
697
Brandywine Realty Trust
BDN
$546M
| $216K | ﹤0.01% |
45,603
+10,840
| +31% | +$63.6K |
|
698
Sinclair Inc
SBGI
$1.01B
| $209K | ﹤0.01% |
+12,154
| New | +$211K |
|
699
Pitney Bowes
PBI
$2.52B
| $204K | ﹤0.01% |
+52,380
| New | +$220K |
|
700
BlackBerry
BB
$5.2B
| $197K | ﹤0.01% |
+42,925
| New | +$170K |
|
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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.