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
|
+$77.8M |
| 2 |
iShares China Large-Cap ETF
FXI
|
+$60.5M |
| 3 |
Merck
MRK
|
+$50.9M |
| 4 |
Pinduoduo
PDD
|
+$40.5M |
| 5 |
iShares MSCI China ETF
MCHI
|
+$36.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$162M |
| 2 |
Meta Platforms (Facebook)
META
|
+$115M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$82.8M |
| 4 |
iShares Gold Trust
IAU
|
+$66M |
| 5 |
Johnson & Johnson
JNJ
|
+$65.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.63% |
| 2 | Healthcare | 21.92% |
| 3 | Consumer Discretionary | 11.78% |
| 4 | Financials | 5.4% |
| 5 | Communication Services | 4.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
676
Columbia Sportswear
COLM
$3.25B
| $333K | ﹤0.01% |
+4,311
| New | +$347K |
|
677
Jefferies Financial Group
JEF
$12.7B
| $314K | ﹤0.01% |
9,459
+2,608
| +38% | +$81.4K |
|
|
CUTR
678
DELISTED
Cutera, Inc.
CUTR
| $314K | ﹤0.01% |
20,728
-889
| -4% | -$16.8K |
|
679
Newell Brands
NWL
$2.21B
| $279K | ﹤0.01% |
+32,115
| New | +$319K |
|
680
Capital One
COF
$128B
| $274K | ﹤0.01% |
+2,509
| New | +$251K |
|
|
EFOR
681
Everforth Inc
EFOR
$960M
| $264K | ﹤0.01% |
+3,491
| New | +$251K |
|
682
Mettler-Toledo International
MTD
$28.1B
| $253K | ﹤0.01% |
193
+24
| +14% | +$33.7K |
|
683
KB Home
KBH
$3.5B
| $253K | ﹤0.01% |
+4,891
| New | +$221K |
|
684
GDS Holdings
GDS
$5.93B
| $234K | ﹤0.01% |
21,319
-303,660
| -93% | -$4.04M |
|
685
Invesco
IVZ
$12.4B
| $220K | ﹤0.01% |
+13,082
| New | +$211K |
|
686
Compass Minerals
CMP
$1.23B
| $215K | ﹤0.01% |
6,310
-615
| -9% | -$20.4K |
|
687
CNA Financial
CNA
$14.9B
| $214K | ﹤0.01% |
5,554
-35
| -0.6% | -$1.36K |
|
|
AEL
688
DELISTED
American Equity Investment Life Holding Company
AEL
| $213K | ﹤0.01% |
+4,085
| New | +$164K |
|
689
Boyd Gaming
BYD
$6.75B
| $206K | ﹤0.01% |
+2,966
| New | +$199K |
|
|
HPP
690
Hudson Pacific Properties
HPP
$758M
| $203K | ﹤0.01% |
6,885
+1,017
| +17% | +$36.4K |
|
691
Sinclair Inc
SBGI
$1.02B
| $196K | ﹤0.01% |
14,202
+2,048
| +17% | +$33.8K |
|
|
BDN
692
Brandywine Realty Trust
BDN
$505M
| $167K | ﹤0.01% |
35,996
-9,607
| -21% | -$39.2K |
|
693
HUTCHMED
HCM
$1.96B
| $142K | ﹤0.01% |
11,871
-106,374
| -90% | -$1.45M |
|
|
CD
694
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
| $120K | ﹤0.01% |
16,754
-387,198
| -96% | -$2.47M |
|
|
KC
695
Kingsoft Cloud Holdings
KC
$2.96B
| $66.8K | ﹤0.01% |
10,946
-237,433
| -96% | -$1.41M |
|
|
BNR
696
Burning Rock Biotech
BNR
$93M
| $36.5K | ﹤0.01% |
1,675
-4,807
| -74% | -$128K |
|
697
Advance Auto Parts
AAP
$3.53B
| – | – |
-11,800
| Closed | -$1.43M |
|
698
Arch Capital
ACGL
$35.7B
| – | – |
-8,532
| Closed | -$579K |
|
699
Accenture
ACN
$106B
| – | – |
-4,254
| Closed | -$1.22M |
|
700
AGNC Investment
AGNC
$12.7B
| – | – |
-142,974
| Closed | -$1.44M |
|
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Bridgewater Associates's Q2 2023 Portfolio in Review
As of Q2 2023, Bridgewater Associates held 787 positions worth $16.2B, down 1.2% from $16.4B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Bridgewater Associates withdrew a net $701M in Q2 2023, closing 91 positions and reducing 342 holdings. Its most notable exit was SPDR Gold Trust, an estimated $162M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Bridgewater Associates opened a new position in AT&T worth $31.6M.
- Bridgewater Associates's largest Q2 2023 buy was AT&T: 1,982,375 shares worth $31.6M.
- Bridgewater Associates added most to iShares Core S&P 500 ETF in Q2 2023, an estimated $77.8M increase.
- Bridgewater Associates's biggest Q2 2023 reduction was Meta Platforms (Facebook), cutting an estimated $115M.
- Bridgewater Associates fully exited SPDR Gold Trust in Q2 2023, selling an estimated $162M.
- Bridgewater Associates's ten largest holdings make up 35% of its $16.2B portfolio in Q2 2023.
- Bridgewater Associates opened 77 new positions and closed 91 in Q2 2023.
- Bridgewater Associates's portfolio value fell 1.2% quarter-over-quarter to $16.2B.
Based on Bridgewater Associates's 13F filing for Q2 2023, filed 11 Aug 2023.