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 | |
|---|---|---|---|---|---|---|
751
Dolby
DLB
$5.59B
| $357K | ﹤0.01% |
5,057
+962
| +23% | +$66.3K |
|
752
ITT
ITT
$17.7B
| $357K | ﹤0.01% |
4,396
+1,034
| +31% | +$80.1K |
|
753
Pegasystems
PEGA
$5.16B
| $349K | ﹤0.01% |
+20,372
| New | +$352K |
|
754
Elanco Animal Health
ELAN
$12.8B
| $348K | ﹤0.01% |
+28,493
| New | +$355K |
|
755
Atlassian
TEAM
$26.3B
| $346K | ﹤0.01% |
+2,686
| New | +$428K |
|
|
SGI
756
Somnigroup International
SGI
$14B
| $343K | ﹤0.01% |
9,994
-30,917
| -76% | -$930K |
|
757
Toll Brothers
TOL
$14.1B
| $341K | ﹤0.01% |
6,837
-10,100
| -60% | -$464K |
|
758
Armstrong World Industries
AWI
$7.58B
| $340K | ﹤0.01% |
+4,950
| New | +$374K |
|
759
Enviri
NVRI
$651M
| $336K | ﹤0.01% |
53,422
-3,632
| -6% | -$21.6K |
|
760
Universal Corp
UVV
$1.3B
| $332K | ﹤0.01% |
6,291
+1,189
| +23% | +$61.9K |
|
|
ONEM
761
DELISTED
1Life Healthcare
ONEM
| $331K | ﹤0.01% |
19,809
-240,428
| -92% | -$4.06M |
|
|
MRTX
762
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $328K | ﹤0.01% |
+7,238
| New | +$468K |
|
763
Intellia Therapeutics
NTLA
$1.5B
| $328K | ﹤0.01% |
+9,387
| New | +$446K |
|
764
ON Semiconductor
ON
$31.3B
| $326K | ﹤0.01% |
+5,219
| New | +$348K |
|
765
Crown Holdings
CCK
$13B
| $325K | ﹤0.01% |
+3,959
| New | +$316K |
|
766
Cable One
CABO
$254M
| $322K | ﹤0.01% |
+453
| New | +$338K |
|
767
Albemarle
ALB
$14B
| $318K | ﹤0.01% |
1,467
-866
| -37% | -$231K |
|
768
Masco
MAS
$14.7B
| $316K | ﹤0.01% |
6,776
-10,123
| -60% | -$488K |
|
769
Matsons
MATX
$6.28B
| $315K | ﹤0.01% |
+5,045
| New | +$333K |
|
770
Nutanix
NTNX
$16.5B
| $314K | ﹤0.01% |
+12,071
| New | +$330K |
|
771
Constellium
CSTM
$3.85B
| $312K | ﹤0.01% |
26,353
-76,219
| -74% | -$891K |
|
772
Gaotu Techedu
GOTU
$458M
| $312K | ﹤0.01% |
132,037
-2,090
| -2% | -$3.02K |
|
773
QuantumScape Corp
QS
$3.28B
| $300K | ﹤0.01% |
52,952
+35,004
| +195% | +$259K |
|
774
Simpson Manufacturing
SSD
$7.91B
| $290K | ﹤0.01% |
+3,276
| New | +$286K |
|
|
CALY
775
Callaway Golf Company
CALY
$3.43B
| $289K | ﹤0.01% |
+14,653
| New | +$289K |
|
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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.