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 | |
|---|---|---|---|---|---|---|
|
MRSH
826
Marsh
MRSH
$90.8B
| – | – |
-93,026
| Closed | -$15.4M |
|
|
CALY
827
Callaway Golf Company
CALY
$3.51B
| – | – |
-14,653
| Closed | -$289K |
|
828
Morningstar
MORN
$7.5B
| – | – |
-2,269
| Closed | -$491K |
|
829
Monolithic Power Systems
MPWR
$66.5B
| – | – |
-2,757
| Closed | -$975K |
|
|
MPT
830
Medical Properties Trust
MPT
$2.77B
| – | – |
-45,956
| Closed | -$512K |
|
831
Marqeta
MQ
$1.83B
| – | – |
-16,606
| Closed | -$406K |
|
832
Morgan Stanley
MS
$342B
| – | – |
-62,501
| Closed | -$5.31M |
|
833
Madison Square Garden
MSGS
$9.56B
| – | – |
-1,253
| Closed | -$230K |
|
834
Vail Resorts
MTN
$5.32B
| – | – |
-2,172
| Closed | -$518K |
|
835
Navient
NAVI
$880M
| – | – |
-57,986
| Closed | -$954K |
|
836
NextEra Energy
NEE
$181B
| – | – |
-261,736
| Closed | -$21.9M |
|
837
NiSource
NI
$21.3B
| – | – |
-44,137
| Closed | -$1.21M |
|
838
Nike
NKE
$62B
| – | – |
-4,185
| Closed | -$490K |
|
839
Annaly Capital Management
NLY
$17.2B
| – | – |
-36,897
| Closed | -$778K |
|
840
Northrop Grumman
NOC
$78.7B
| – | – |
-18,168
| Closed | -$9.91M |
|
841
Intellia Therapeutics
NTLA
$1.56B
| – | – |
-9,387
| Closed | -$328K |
|
842
Nutanix
NTNX
$16.6B
| – | – |
-12,071
| Closed | -$314K |
|
843
Northern Trust
NTRS
$33.5B
| – | – |
-49,394
| Closed | -$4.37M |
|
844
Newell Brands
NWL
$2.61B
| – | – |
-17,525
| Closed | -$229K |
|
845
OGE Energy
OGE
$9.79B
| – | – |
-32,209
| Closed | -$1.27M |
|
846
Universal Display
OLED
$3.91B
| – | – |
-25,609
| Closed | -$2.77M |
|
847
Opko Health
OPK
$970M
| – | – |
-54,338
| Closed | -$67.9K |
|
848
Old Republic International
ORI
$10.5B
| – | – |
-106,556
| Closed | -$2.57M |
|
849
Bank OZK
OZK
$5.73B
| – | – |
-42,540
| Closed | -$1.7M |
|
|
PARA
850
DELISTED
Paramount Global Class B
PARA
| – | – |
-21,563
| Closed | -$364K |
|
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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.