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 |
Visa
V
|
+$148M |
| 2 |
Mondelez International
MDLZ
|
+$144M |
| 3 |
Johnson & Johnson
JNJ
|
+$64.3M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$53.4M |
| 5 |
Microsoft
MSFT
|
+$51.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Medtronic
MDT
|
+$225M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$151M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$91.6M |
| 4 |
Walmart Inc
WMT
|
+$87.7M |
| 5 |
JPMorgan Chase
JPM
|
+$79.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 29.71% |
| 2 | Healthcare | 20.65% |
| 3 | Consumer Discretionary | 10.85% |
| 4 | Financials | 7.63% |
| 5 | Technology | 4.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
876
Aptiv
APTV
$12.1B
| – | – |
-190,066
| Closed | -$16.9M |
|
877
Ares Management
ARES
$31.3B
| – | – |
-13,790
| Closed | -$784K |
|
878
Ashland
ASH
$3.29B
| – | – |
-35,382
| Closed | -$3.65M |
|
879
American Express
AXP
$233B
| – | – |
-29,368
| Closed | -$4.07M |
|
880
Axalta
AXTA
$7.76B
| – | – |
-157,165
| Closed | -$3.48M |
|
881
Boeing
BA
$185B
| – | – |
-162,930
| Closed | -$22.3M |
|
882
Booz Allen Hamilton
BAH
$8.56B
| – | – |
-8,894
| Closed | -$804K |
|
883
Bath & Body Works
BBWI
$4.23B
| – | – |
-235,773
| Closed | -$6.35M |
|
884
Bread Financial
BFH
$4.48B
| – | – |
-8,885
| Closed | -$329K |
|
885
BJ's Restaurants
BJRI
$1.44B
| – | – |
-64,694
| Closed | -$1.4M |
|
886
Blackrock
BLK
$175B
| – | – |
-9,903
| Closed | -$6.03M |
|
887
Brookfield
BN
$107B
| – | – |
-29,783
| Closed | -$712K |
|
888
BioNTech
BNTX
$23.3B
| – | – |
-12,156
| Closed | -$1.81M |
|
889
Broadridge
BR
$18.2B
| – | – |
-36,170
| Closed | -$5.16M |
|
890
Burlington
BURL
$23.2B
| – | – |
-4,725
| Closed | -$644K |
|
891
BorgWarner
BWA
$13B
| – | – |
-243,441
| Closed | -$7.15M |
|
892
Citigroup
C
$224B
| – | – |
-524,393
| Closed | -$24.1M |
|
893
Cable One
CABO
$254M
| – | – |
-415
| Closed | -$535K |
|
894
Carrier Global
CARR
$52.1B
| – | – |
-424,427
| Closed | -$15.1M |
|
895
CBRE Group
CBRE
$43B
| – | – |
-22,679
| Closed | -$1.67M |
|
896
Charter Communications
CHTR
$17.2B
| – | – |
-602
| Closed | -$282K |
|
897
Cleveland-Cliffs
CLF
$6.4B
| – | – |
-745,864
| Closed | -$11.5M |
|
898
Coinbase
COIN
$38.7B
| – | – |
-17,744
| Closed | -$834K |
|
899
Capri Holdings
CPRI
$1.88B
| – | – |
-256,407
| Closed | -$10.5M |
|
900
Carlisle Companies
CSL
$14.8B
| – | – |
-33,230
| Closed | -$7.93M |
|
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Bridgewater Associates's Q3 2022 Portfolio in Review
As of Q3 2022, Bridgewater Associates held 1,045 positions worth $19.8B, down 16% from $23.6B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bridgewater Associates withdrew a net $2.53B in Q3 2022, closing 179 positions and reducing 498 holdings. Its most notable exit was Medtronic, an estimated $225M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 30% of assets, up from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Bridgewater Associates opened a new position in Accenture worth $29.3M.
- Bridgewater Associates's largest Q3 2022 buy was Accenture: 113,811 shares worth $29.3M.
- Bridgewater Associates added most to Visa in Q3 2022, an estimated $148M increase.
- Bridgewater Associates's biggest Q3 2022 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $151M.
- Bridgewater Associates fully exited Medtronic in Q3 2022, selling an estimated $225M.
- Bridgewater Associates's ten largest holdings make up 32% of its $19.8B portfolio in Q3 2022.
- Bridgewater Associates opened 60 new positions and closed 179 in Q3 2022.
- Bridgewater Associates's portfolio value fell 16% quarter-over-quarter to $19.8B.
Based on Bridgewater Associates's 13F filing for Q3 2022, filed 10 Nov 2022.