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 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$33.8M |
| 2 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$32.6M |
| 3 |
Fossil Group
FOSL
|
+$14.2M |
| 4 |
Chipotle Mexican Grill
CMG
|
+$13.7M |
| 5 |
Suncor Energy
SU
|
+$13.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.25B |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$610M |
| 3 |
POT
Potash Corp Of Saskatchewan
POT
|
+$39.3M |
| 4 |
Apple
AAPL
|
+$25.8M |
| 5 |
AGU
Agrium
AGU
|
+$20.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 2.9% |
| 2 | Technology | 2.18% |
| 3 | Materials | 1.84% |
| 4 | Healthcare | 1.31% |
| 5 | Consumer Discretionary | 0.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Cardinal Health
CAH
$53.4B
| $9.14M | 0.08% |
109,300
+39,300
| +56% | +$3.47M |
|
52
TC Energy
TRP
$73.5B
| $8.91M | 0.08% |
+219,200
| New | +$9.65M |
|
|
X
53
DELISTED
US Steel
X
| $8.56M | 0.08% |
+415,245
| New | +$10.2M |
|
54
International Paper
IP
$22.3B
| $8.48M | 0.08% |
188,278
+153,162
| +436% | +$7.59M |
|
55
Public Service Enterprise Group
PEG
$39.8B
| $8.42M | 0.08% |
214,394
+87,200
| +69% | +$3.62M |
|
56
Valero Energy
VLO
$89.8B
| $8.41M | 0.08% |
134,357
+38,200
| +40% | +$2.26M |
|
57
Toll Brothers
TOL
$14B
| $8.4M | 0.08% |
+219,845
| New | +$8.23M |
|
58
Agnico Eagle Mines
AEM
$72.6B
| $8.3M | 0.08% |
292,591
+7,100
| +2% | +$220K |
|
59
Wheaton Precious Metals
WPM
$50.6B
| $8.28M | 0.08% |
477,472
+14,800
| +3% | +$284K |
|
60
Walmart Inc
WMT
$871B
| $8.23M | 0.08% |
348,312
+86,100
| +33% | +$2.2M |
|
61
Berkshire Hathaway Class B
BRK.B
$1.07T
| $8.15M | 0.08% |
59,890
+52,284
| +687% | +$7.46M |
|
62
Intel
INTC
$466B
| $8.08M | 0.07% |
265,703
-304,600
| -53% | -$9.85M |
|
|
SE
63
DELISTED
Spectra Energy Corp Wi
SE
| $7.92M | 0.07% |
242,822
+150,297
| +162% | +$5.35M |
|
64
Franco-Nevada
FNV
$41.4B
| $7.76M | 0.07% |
162,728
| – | – |
|
|
ESRX
65
DELISTED
Express Scripts Holding Company
ESRX
| $7.62M | 0.07% |
85,662
-11,300
| -12% | -$987K |
|
66
Cenovus Energy
CVE
$54.6B
| $7.61M | 0.07% |
475,400
+263,500
| +124% | +$4.59M |
|
67
TechnipFMC
FTI
$30.6B
| $7.3M | 0.07% |
236,486
-116,147
| -33% | -$3.57M |
|
68
Intuit
INTU
$81.1B
| $7.28M | 0.07% |
72,272
+40,900
| +130% | +$4.17M |
|
69
Paychex
PAYX
$40.4B
| $7.2M | 0.07% |
153,614
+73,542
| +92% | +$3.6M |
|
70
Corning
GLW
$126B
| $7.11M | 0.07% |
360,576
-111,500
| -24% | -$2.39M |
|
71
MetLife
MET
$61B
| $7M | 0.06% |
140,188
-277,695
| -66% | -$13.2M |
|
|
IPG
72
DELISTED
Interpublic Group of Companies
IPG
| $6.89M | 0.06% |
+357,414
| New | +$7.42M |
|
73
Vale
VALE
$62.9B
| $6.83M | 0.06% |
1,159,600
-313,100
| -21% | -$2.1M |
|
74
Salesforce
CRM
$134B
| $6.75M | 0.06% |
+96,923
| New | +$6.9M |
|
75
KLA
KLAC
$275B
| $6.7M | 0.06% |
1,192,270
+589,350
| +98% | +$3.45M |
|
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Bridgewater Associates's Q2 2015 Portfolio in Review
As of Q2 2015, Bridgewater Associates held 438 positions worth $10.8B, down 16% from $12.8B the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Bridgewater Associates withdrew a net $1.96B in Q2 2015, closing 132 positions and reducing 100 holdings. Its most notable exit was Potash Corp Of Saskatchewan, an estimated $39.3M position sold in full.
By sector, the portfolio is most concentrated in Energy at 2.9% of assets, up from 2% a quarter earlier, followed by Technology and Materials.
Against the trend, Bridgewater Associates opened a new position in Fossil Group worth $12.7M.
- Bridgewater Associates's largest Q2 2015 buy was Fossil Group: 183,440 shares worth $12.7M.
- Bridgewater Associates added most to Vanguard FTSE Emerging Markets ETF in Q2 2015, an estimated $33.8M increase.
- Bridgewater Associates's biggest Q2 2015 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.25B.
- Bridgewater Associates fully exited Potash Corp Of Saskatchewan in Q2 2015, selling an estimated $39.3M.
- Bridgewater Associates's ten largest holdings make up 88% of its $10.8B portfolio in Q2 2015.
- Bridgewater Associates opened 110 new positions and closed 132 in Q2 2015.
- Bridgewater Associates's portfolio value fell 16% quarter-over-quarter to $10.8B.
Based on Bridgewater Associates's 13F filing for Q2 2015, filed 11 Aug 2015.