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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$693M |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$235M |
| 3 |
Vanguard S&P 500 ETF
VOO
|
+$200M |
| 4 |
Petrobras
PBR
|
+$105M |
| 5 |
Shell
SHEL
|
+$105M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$1.02B |
| 2 |
Amazon
AMZN
|
+$593M |
| 3 |
TSMC
TSM
|
+$423M |
| 4 |
Marvell Technology
MRVL
|
+$354M |
| 5 |
GE Vernova
GEV
|
+$319M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 30.62% |
| 2 | Technology | 21.23% |
| 3 | Industrials | 7.72% |
| 4 | Financials | 6.76% |
| 5 | Healthcare | 6.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
101
Toast
TOST
$18.4B
| $39.8M | 0.16% |
1,428,975
+1,091,740
| +324% | +$28.5M |
2024 Q2
8 quarters
|
|
102
Vale
VALE
$56.2B
| $39.5M | 0.16% |
2,626,446
-1,359,783
| -34% | -$22.2M |
2024 Q1
9 quarters
|
|
103
Transocean
RIG
$6.25B
| $38.9M | 0.16% |
7,962,797
+7,544,366
| +1,803% | +$47.1M |
2025 Q4
2 quarters
|
|
104
S&P Global
SPGI
$126B
| $38.7M | 0.16% |
95,012
+62,313
| +191% | +$26.3M |
2024 Q1
9 quarters
|
|
105
Dollar Tree
DLTR
$23.5B
| $38.2M | 0.16% |
315,855
+292,018
| +1,225% | +$30.4M |
2020 Q1
25 quarters
|
|
106
Suncor Energy
SU
$89.9B
| $38.1M | 0.16% |
708,762
+296,523
| +72% | +$18.8M |
2024 Q2
8 quarters
|
|
107
GE Aerospace
GE
$329B
| $38M | 0.16% |
101,569
-19,038
| -16% | -$5.96M |
2021 Q4
18 quarters
|
|
108
Medtronic
MDT
$121B
| $37.7M | 0.15% |
482,525
+227,285
| +89% | +$18.3M |
2024 Q1
9 quarters
|
|
109
Onto Innovation
ONTO
$11B
| $37.5M | 0.15% |
99,020
-249,385
| -72% | -$70.6M |
2024 Q2
8 quarters
|
|
110
RBC Bearings
RBC
$15.7B
| $37.2M | 0.15% |
57,741
+51,380
| +808% | +$30.6M |
2026 Q1
1 quarter
|
|
111
Gilead Sciences
GILD
$194B
| $36.7M | 0.15% |
290,881
+110,144
| +61% | +$14.5M |
2020 Q4
22 quarters
|
|
112
KeyCorp
KEY
$21.5B
| $36.3M | 0.15% |
1,574,882
+609,166
| +63% | +$13.3M |
2025 Q2
4 quarters
|
|
113
Halozyme
HALO
$13.8B
| $36.3M | 0.15% |
463,146
-48,283
| -9% | -$3.29M |
2025 Q3
3 quarters
|
|
114
Lennox International
LII
$12.4B
| $36.2M | 0.15% |
63,229
+58,249
| +1,170% | +$29.7M |
2025 Q3
3 quarters
|
|
115
NOV
NOV
$6.73B
| $36.1M | 0.15% |
1,943,703
+1,761,079
| +964% | +$35.1M |
2025 Q4
2 quarters
|
|
116
HF Sinclair
DINO
$22.2B
| $35.6M | 0.15% |
510,527
+197,321
| +63% | +$13.1M |
2025 Q3
3 quarters
|
|
117
Neurocrine Biosciences
NBIX
$13.9B
| $34.7M | 0.14% |
205,677
+57,536
| +39% | +$8.54M |
2023 Q1
13 quarters
|
|
118
FNB Corp
FNB
$6.15B
| $34.4M | 0.14% |
1,804,957
-10,584
| -0.6% | -$188K |
2025 Q3
3 quarters
|
|
119
Universal Health Services
UHS
$11B
| $33.9M | 0.14% |
228,121
+91,753
| +67% | +$14.9M |
2020 Q1
25 quarters
|
|
120
Airbnb
ABNB
$103B
| $33.9M | 0.14% |
236,935
+209,904
| +777% | +$28.6M |
2022 Q1
17 quarters
|
|
121
Jabil
JBL
$29.2B
| $33.7M | 0.14% |
87,526
+47,956
| +121% | +$16.6M |
2025 Q2
4 quarters
|
|
122
Deckers Outdoor
DECK
$11.7B
| $33.4M | 0.14% |
336,573
-31,267
| -9% | -$3.29M |
2025 Q3
3 quarters
|
|
123
BridgeBio Pharma
BBIO
$12.9B
| $33.4M | 0.14% |
448,143
+188,684
| +73% | +$13.2M |
2025 Q4
2 quarters
|
|
124
Western Alliance Bancorporation
WAL
$8.21B
| $33M | 0.14% |
401,678
+210,878
| +111% | +$16.6M |
2026 Q1
1 quarter
|
|
125
Vulcan Materials
VMC
$33.3B
| $32.1M | 0.13% |
+108,687
| New | +$31.2M |
2026 Q2
0 quarters
|
|
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Bridgewater Associates's Q2 2026 Portfolio in Review
As of Q2 2026, Bridgewater Associates held 1,206 positions worth $24.4B, up 8.8% from $22.4B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Bridgewater Associates withdrew a net $3.05B in Q2 2026, closing 209 positions and reducing 379 holdings. Its most notable exit was Cisco, an estimated $63.8M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 31% of assets, up from 25% a quarter earlier, followed by Technology and Industrials.
Against the trend, Bridgewater Associates opened a new position in Eversource Energy worth $86.4M.
- Bridgewater Associates's largest Q2 2026 buy was Eversource Energy: 1,195,140 shares worth $86.4M.
- Bridgewater Associates added most to State Street SPDR S&P 500 ETF Trust in Q2 2026, an estimated $693M increase.
- Bridgewater Associates's biggest Q2 2026 reduction was Micron Technology, cutting an estimated $1.02B.
- Bridgewater Associates fully exited Cisco in Q2 2026, selling an estimated $63.8M.
- Bridgewater Associates's ten largest holdings make up 40% of its $24.4B portfolio in Q2 2026.
- Bridgewater Associates opened 213 new positions and closed 209 in Q2 2026.
- Bridgewater Associates's portfolio value rose 8.8% quarter-over-quarter to $24.4B.
Based on Bridgewater Associates's 13F filing for Q2 2026, filed 14 Aug 2026.