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 | |
|---|---|---|---|---|---|---|
1001
SI-BONE Inc
SIBN
$818M
| – | – |
-48,861
| Closed | -$645K |
|
1002
Snap-on
SNA
$21.2B
| – | – |
-1,388
| Closed | -$273K |
|
1003
Snap
SNAP
$8.48B
| – | – |
-531,415
| Closed | -$6.98M |
|
1004
Synopsys
SNPS
$75.1B
| – | – |
-10,396
| Closed | -$3.16M |
|
1005
Spectrum Brands
SPB
$2.04B
| – | – |
-34,388
| Closed | -$2.82M |
|
|
SPR
1006
DELISTED
Spirit AeroSystems
SPR
| – | – |
-7,034
| Closed | -$206K |
|
1007
Seagate
STX
$189B
| – | – |
-98,367
| Closed | -$7.03M |
|
1008
Sensient Technologies
SXT
$5.37B
| – | – |
-2,826
| Closed | -$228K |
|
1009
AT&T
T
$162B
| – | – |
-3,393,604
| Closed | -$71.1M |
|
1010
Teradata
TDC
$3.02B
| – | – |
-7,254
| Closed | -$268K |
|
1011
TransDigm Group
TDG
$71.9B
| – | – |
-3,698
| Closed | -$1.99M |
|
1012
Teledyne Technologies
TDY
$31.1B
| – | – |
-3,147
| Closed | -$1.18M |
|
1013
Thor Industries
THO
$4.03B
| – | – |
-101,435
| Closed | -$7.58M |
|
1014
Targa Resources
TRGP
$56.8B
| – | – |
-20,747
| Closed | -$1.24M |
|
1015
TripAdvisor
TRIP
$1.69B
| – | – |
-10,115
| Closed | -$180K |
|
1016
T. Rowe Price
TROW
$24.3B
| – | – |
-33,933
| Closed | -$3.85M |
|
1017
Trane Technologies
TT
$101B
| – | – |
-162,820
| Closed | -$21.1M |
|
1018
10x Genomics
TXG
$5.97B
| – | – |
-8,676
| Closed | -$393K |
|
1019
Tyler Technologies
TYL
$12.5B
| – | – |
-2,851
| Closed | -$948K |
|
1020
Under Armour
UAA
$2.89B
| – | – |
-337,860
| Closed | -$2.81M |
|
1021
UFP Industries
UFPI
$5.18B
| – | – |
-12,549
| Closed | -$855K |
|
1022
Upstart Holdings
UPST
$2.82B
| – | – |
-6,910
| Closed | -$218K |
|
1023
Visteon
VC
$2.82B
| – | – |
-19,751
| Closed | -$2.05M |
|
1024
VF Corp
VFC
$5.87B
| – | – |
-308,575
| Closed | -$13.6M |
|
1025
VeriSign
VRSN
$27B
| – | – |
-7,378
| Closed | -$1.24M |
|
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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.