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 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$432M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$193M |
| 3 |
iShares MSCI South Korea ETF
EWY
|
+$95.9M |
| 4 |
Molson Coors Class B
TAP
|
+$28.7M |
| 5 |
iShares MSCI Brazil ETF
EWZ
|
+$24.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$172M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$47.9M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$21.1M |
| 4 |
Intel
INTC
|
+$20.4M |
| 5 |
JNPR
Juniper Networks
JNPR
|
+$18.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 2.75% |
| 2 | Technology | 2.62% |
| 3 | Consumer Discretionary | 2.44% |
| 4 | Financials | 1.98% |
| 5 | Healthcare | 1.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
IPG
101
DELISTED
Interpublic Group of Companies
IPG
| $7.62M | 0.07% |
+325,673
| New | +$7.53M |
|
102
Las Vegas Sands
LVS
$30.5B
| $7.62M | 0.07% |
142,600
+138,800
| +3,653% | +$8.09M |
|
103
Applied Materials
AMAT
$426B
| $7.61M | 0.07% |
235,696
-502,987
| -68% | -$15.3M |
|
104
Microchip Technology
MCHP
$42.8B
| $7.49M | 0.07% |
233,442
+104,704
| +81% | +$3.29M |
|
105
Bank of America
BAC
$435B
| $7.41M | 0.07% |
+335,300
| New | +$6.46M |
|
106
Invesco
IVZ
$13.3B
| $7.36M | 0.07% |
242,600
+227,500
| +1,507% | +$7M |
|
107
lululemon athletica
LULU
$13B
| $7.35M | 0.07% |
+113,132
| New | +$6.75M |
|
108
VeriSign
VRSN
$25.3B
| $7.21M | 0.07% |
+94,796
| New | +$7.49M |
|
109
NetApp
NTAP
$32.9B
| $7.09M | 0.07% |
+200,920
| New | +$7.03M |
|
|
KSU
110
DELISTED
Kansas City Southern
KSU
| $6.91M | 0.07% |
81,445
+6,947
| +9% | +$612K |
|
111
Estee Lauder
EL
$29B
| $6.76M | 0.06% |
88,400
+83,500
| +1,704% | +$6.79M |
|
112
TJX Companies
TJX
$170B
| $6.75M | 0.06% |
179,682
+145,200
| +421% | +$5.49M |
|
113
AutoZone
AZO
$48.3B
| $6.7M | 0.06% |
8,480
+5,200
| +159% | +$4M |
|
114
Morgan Stanley
MS
$337B
| $6.4M | 0.06% |
151,400
+65,900
| +77% | +$2.49M |
|
115
PVH
PVH
$3.71B
| $6.33M | 0.06% |
+70,200
| New | +$7.39M |
|
116
United Therapeutics
UTHR
$26.3B
| $6.3M | 0.06% |
43,905
-69,900
| -61% | -$8.92M |
|
117
Southern Copper
SCCO
$141B
| $6.22M | 0.06% |
210,238
-31,930
| -13% | -$899K |
|
|
BNY
118
Bank of New York Mellon
BNY
$108B
| $6.2M | 0.06% |
130,800
+24,800
| +23% | +$1.12M |
|
119
Analog Devices
ADI
$181B
| $6.18M | 0.06% |
85,100
-20,139
| -19% | -$1.37M |
|
120
APA Corp
APA
$12.8B
| $6.16M | 0.06% |
97,100
-7,700
| -7% | -$485K |
|
121
Masco
MAS
$16B
| $6.1M | 0.06% |
192,841
-19,157
| -9% | -$614K |
|
|
CTXS
122
DELISTED
Citrix Systems Inc
CTXS
| $6.06M | 0.06% |
85,263
-44,455
| -34% | -$3.07M |
|
123
Skyworks Solutions
SWKS
$9.06B
| $6.05M | 0.06% |
81,010
+24,700
| +44% | +$1.9M |
|
124
MGM Resorts International
MGM
$11.7B
| $5.99M | 0.06% |
+207,900
| New | +$5.76M |
|
125
NextEra Energy
NEE
$187B
| $5.93M | 0.06% |
+198,416
| New | +$5.93M |
|
Similar funds
Bridgewater Associates's Q4 2016 Portfolio in Review
As of Q4 2016, Bridgewater Associates held 377 positions worth $10.5B, up 3.7% from $10.2B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Bridgewater Associates deployed $653M of net new capital in Q4 2016, opening 78 new positions and adding to 101 existing holdings. Its largest new stake was UnitedHealth: 163,900 shares worth $26.2M.
By sector, the portfolio is most concentrated in Energy at 2.8% of assets, down from 2.9% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $172M trimmed.
- Bridgewater Associates's largest Q4 2016 buy was UnitedHealth: 163,900 shares worth $26.2M.
- Bridgewater Associates added most to Vanguard FTSE Emerging Markets ETF in Q4 2016, an estimated $432M increase.
- Bridgewater Associates's biggest Q4 2016 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $172M.
- Bridgewater Associates fully exited Bristol-Myers Squibb in Q4 2016, selling an estimated $21.1M.
- Bridgewater Associates's ten largest holdings make up 83% of its $10.5B portfolio in Q4 2016.
- Bridgewater Associates opened 78 new positions and closed 110 in Q4 2016.
- Bridgewater Associates's portfolio value rose 3.7% quarter-over-quarter to $10.5B.
Based on Bridgewater Associates's 13F filing for Q4 2016, filed 10 Feb 2017.