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 |
Amazon
AMZN
|
+$293M |
| 2 |
Microsoft
MSFT
|
+$216M |
| 3 |
ExxonMobil
XOM
|
+$92M |
| 4 |
Cameco
CCJ
|
+$87.2M |
| 5 |
Advanced Micro Devices
AMD
|
+$67.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$256M |
| 2 |
Eli Lilly
LLY
|
+$148M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$140M |
| 4 |
Comcast
CMCSA
|
+$88.8M |
| 5 |
Procter & Gamble
PG
|
+$83.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 18.04% |
| 2 | Healthcare | 14.75% |
| 3 | Technology | 14.42% |
| 4 | Consumer Discretionary | 12.13% |
| 5 | Communication Services | 8.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
iShares MSCI China ETF
MCHI
$6.15B
| $31.6M | 0.17% |
750,458
-84,614
| -10% | -$3.64M |
|
102
lululemon athletica
LULU
$13.6B
| $31.3M | 0.16% |
104,676
+54,600
| +109% | +$18.3M |
|
103
CSX Corp
CSX
$94.6B
| $30.5M | 0.16% |
913,146
+471,469
| +107% | +$16M |
|
104
Church & Dwight Co
CHD
$23.7B
| $29.6M | 0.15% |
285,278
-73,744
| -21% | -$7.8M |
|
105
Centene
CNC
$31.9B
| $29.4M | 0.15% |
444,004
+60,767
| +16% | +$4.42M |
|
106
iShares China Large-Cap ETF
FXI
$4.26B
| $29.3M | 0.15% |
1,126,278
-138,771
| -11% | -$3.64M |
|
107
Travelers Companies
TRV
$82.8B
| $29.1M | 0.15% |
143,101
-36,941
| -21% | -$7.94M |
|
108
Pultegroup
PHM
$25.5B
| $29M | 0.15% |
263,554
+243,092
| +1,188% | +$27.6M |
|
109
e.l.f. Beauty
ELF
$4.91B
| $28.9M | 0.15% |
137,123
+49,467
| +56% | +$8.79M |
|
110
MetLife
MET
$62.7B
| $28.8M | 0.15% |
410,875
-136,687
| -25% | -$9.76M |
|
111
Philip Morris
PM
$311B
| $28.7M | 0.15% |
283,107
-116,303
| -29% | -$11.4M |
|
112
Willis Towers Watson
WTW
$29.7B
| $28.6M | 0.15% |
109,065
+35,077
| +47% | +$9.06M |
|
113
D.R. Horton
DHI
$42B
| $28.6M | 0.15% |
202,624
-176,976
| -47% | -$26M |
|
114
Lowe's Companies
LOW
$122B
| $28.5M | 0.15% |
129,443
+31,844
| +33% | +$7.26M |
|
115
Trip.com Group
TCOM
$28.6B
| $28M | 0.15% |
596,226
-150,992
| -20% | -$7.69M |
|
116
Hershey
HSY
$37B
| $27.7M | 0.14% |
150,435
+63,482
| +73% | +$12.3M |
|
117
Applied Materials
AMAT
$380B
| $27.6M | 0.14% |
116,856
-301,041
| -72% | -$64.6M |
|
118
Hartford Financial Services
HIG
$39.2B
| $27M | 0.14% |
268,392
+36,193
| +16% | +$3.63M |
|
119
Pinterest
PINS
$13.5B
| $27M | 0.14% |
611,877
+370,502
| +153% | +$14.6M |
|
120
Tapestry
TPR
$30.4B
| $26.1M | 0.14% |
608,902
+70,599
| +13% | +$2.95M |
|
121
Bentley Systems
BSY
$10.8B
| $25.8M | 0.13% |
523,340
+132,886
| +34% | +$6.9M |
|
122
Fair Isaac
FICO
$30.9B
| $25.8M | 0.13% |
17,339
-3,105
| -15% | -$4.01M |
|
123
CoStar Group
CSGP
$12.4B
| $25.4M | 0.13% |
342,019
+136,014
| +66% | +$11.5M |
|
124
PG&E
PCG
$39.4B
| $25.1M | 0.13% |
1,440,014
+64,235
| +5% | +$1.13M |
|
125
Airbnb
ABNB
$90.5B
| $25.1M | 0.13% |
165,212
+149,917
| +980% | +$22.9M |
|
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Bridgewater Associates's Q2 2024 Portfolio in Review
As of Q2 2024, Bridgewater Associates held 959 positions worth $19.2B, down 3.1% from $19.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Bridgewater Associates withdrew a net $757M in Q2 2024, closing 82 positions and reducing 390 holdings. Its most notable exit was Marathon Oil Corporation, an estimated $28.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 18% of assets, down from 19% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Bridgewater Associates opened a new position in Constellation Energy worth $38.9M.
- Bridgewater Associates's largest Q2 2024 buy was Constellation Energy: 194,333 shares worth $38.9M.
- Bridgewater Associates added most to Amazon in Q2 2024, an estimated $293M increase.
- Bridgewater Associates's biggest Q2 2024 reduction was Apple, cutting an estimated $256M.
- Bridgewater Associates fully exited Marathon Oil Corporation in Q2 2024, selling an estimated $28.8M.
- Bridgewater Associates's ten largest holdings make up 35% of its $19.2B portfolio in Q2 2024.
- Bridgewater Associates opened 282 new positions and closed 82 in Q2 2024.
- Bridgewater Associates's portfolio value fell 3.1% quarter-over-quarter to $19.2B.
Based on Bridgewater Associates's 13F filing for Q2 2024, filed 14 Aug 2024.