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 MSCI Emerging Markets ETF
EEM
|
+$505M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$443M |
| 3 |
Alibaba
BABA
|
+$370M |
| 4 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$284M |
| 5 |
Procter & Gamble
PG
|
+$256M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lowe's Companies
LOW
|
+$40M |
| 2 |
Home Depot
HD
|
+$38.9M |
| 3 |
JD.com
JD
|
+$35.3M |
| 4 |
SPDR Gold Trust
GLD
|
+$31.6M |
| 5 |
Tesla
TSLA
|
+$26.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 25.83% |
| 2 | Healthcare | 17.87% |
| 3 | Consumer Discretionary | 13.79% |
| 4 | Technology | 4.61% |
| 5 | Financials | 4.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Newmont
NEM
$98.7B
| $43.5M | 0.18% |
+547,308
| New | +$37M |
|
102
Clorox
CLX
$11.6B
| $43.4M | 0.17% |
312,038
+61,386
| +24% | +$9.41M |
|
103
KE Holdings
BEKE
$18.7B
| $43.4M | 0.17% |
3,506,077
+1,245,969
| +55% | +$22.2M |
|
104
Qualcomm
QCOM
$155B
| $43.1M | 0.17% |
282,319
+281,068
| +22,467% | +$47.1M |
|
105
Labcorp
LH
$25B
| $42.2M | 0.17% |
186,358
+48,977
| +36% | +$11.5M |
|
106
T-Mobile US
TMUS
$185B
| $40.3M | 0.16% |
314,179
+255,417
| +435% | +$30.4M |
|
107
iShares Core MSCI EAFE ETF
IEFA
$190B
| $40M | 0.16% |
575,305
-52,163
| -8% | -$3.69M |
|
108
Caterpillar
CAT
$375B
| $39M | 0.16% |
+175,187
| New | +$36.7M |
|
109
Wells Fargo
WFC
$261B
| $38.7M | 0.16% |
798,998
+85,994
| +12% | +$4.6M |
|
110
GE Aerospace
GE
$374B
| $38.7M | 0.16% |
678,791
+672,631
| +10,919% | +$40.1M |
|
111
Cencora
COR
$60.6B
| $38.5M | 0.16% |
248,897
+67,892
| +38% | +$9.61M |
|
112
Steris
STE
$22.3B
| $38.4M | 0.16% |
159,014
+36,293
| +30% | +$8.41M |
|
113
Southern Copper
SCCO
$143B
| $37.8M | 0.15% |
+537,520
| New | +$34.4M |
|
114
J.M. Smucker
SJM
$12.7B
| $37.4M | 0.15% |
276,162
+66,307
| +32% | +$9.04M |
|
115
Ford
F
$58.5B
| $37.2M | 0.15% |
2,199,950
+486,840
| +28% | +$9.26M |
|
116
ConocoPhillips
COP
$147B
| $36.8M | 0.15% |
368,158
+362,744
| +6,700% | +$33.4M |
|
117
Cooper Companies
COO
$14.1B
| $36.2M | 0.15% |
346,608
+107,100
| +45% | +$10.8M |
|
118
Airbnb
ABNB
$89.9B
| $34M | 0.14% |
+198,143
| New | +$31.6M |
|
119
Teleflex
TFX
$6.05B
| $33.7M | 0.14% |
94,841
+43,328
| +84% | +$14.3M |
|
|
MRSH
120
Marsh
MRSH
$90.5B
| $33.3M | 0.13% |
195,565
+110,868
| +131% | +$17.5M |
|
121
NetEase
NTES
$85.3B
| $33.2M | 0.13% |
370,125
-118,489
| -24% | -$11.3M |
|
|
122
Home Depot
HD
$331B
| $32.4M | 0.13% |
108,099
-112,054
| -51% | -$38.9M |
|
123
CME Group
CME
$96.3B
| $31.5M | 0.13% |
+132,401
| New | +$31.1M |
|
124
Air Products & Chemicals
APD
$65.7B
| $31.4M | 0.13% |
+125,746
| New | +$32.3M |
|
125
Eaton
ETN
$161B
| $30.3M | 0.12% |
+199,639
| New | +$31.3M |
|
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Bridgewater Associates's Q1 2022 Portfolio in Review
As of Q1 2022, Bridgewater Associates held 991 positions worth $24.8B, up 44% from $17.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bridgewater Associates deployed $8.89B of net new capital in Q1 2022, opening 260 new positions and adding to 547 existing holdings. Its largest new stake was Medtronic: 1,880,088 shares worth $209M.
By sector, the portfolio is most concentrated in Consumer Staples at 26% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Lowe's Companies, an estimated $40M trimmed.
- Bridgewater Associates's largest Q1 2022 buy was Medtronic: 1,880,088 shares worth $209M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q1 2022, an estimated $505M increase.
- Bridgewater Associates's biggest Q1 2022 reduction was Lowe's Companies, cutting an estimated $40M.
- Bridgewater Associates fully exited Tesla in Q1 2022, selling an estimated $26.9M.
- Bridgewater Associates's ten largest holdings make up 34% of its $24.8B portfolio in Q1 2022.
- Bridgewater Associates opened 260 new positions and closed 23 in Q1 2022.
- Bridgewater Associates's portfolio value rose 44% quarter-over-quarter to $24.8B.
Based on Bridgewater Associates's 13F filing for Q1 2022, filed 13 May 2022.