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
|
+$147M |
| 2 |
PepsiCo
PEP
|
+$23.8M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$20.5M |
| 4 |
Welltower
WELL
|
+$18.3M |
| 5 |
CTXS
Citrix Systems Inc
CTXS
|
+$16.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$266M |
| 2 |
Micron Technology
MU
|
+$25.9M |
| 3 |
AGN
Allergan Inc
AGN
|
+$17.7M |
| 4 |
Intel
INTC
|
+$15.6M |
| 5 |
Valero Energy
VLO
|
+$14.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.38% |
| 2 | Energy | 2.15% |
| 3 | Materials | 1.21% |
| 4 | Healthcare | 0.97% |
| 5 | Consumer Discretionary | 0.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GAP
151
The Gap Inc
GAP
$6.84B
| $2.93M | 0.02% |
74,985
-27,793
| -27% | -$1.09M |
|
152
Gilead Sciences
GILD
$161B
| $2.9M | 0.02% |
+38,621
| New | +$2.69M |
|
153
Boeing
BA
$165B
| $2.87M | 0.02% |
21,041
-39,400
| -65% | -$5.12M |
|
154
Abercrombie & Fitch
ANF
$4.17B
| $2.79M | 0.02% |
+84,671
| New | +$2.92M |
|
|
CERN
155
DELISTED
Cerner Corp
CERN
| $2.77M | 0.02% |
49,650
+40,314
| +432% | +$2.26M |
|
|
BBBY
156
DELISTED
Bed Bath & Beyond Inc
BBBY
| $2.76M | 0.02% |
+34,329
| New | +$2.66M |
|
|
LO
157
DELISTED
LORILLARD INC COM STK
LO
| $2.75M | 0.02% |
54,261
-37,000
| -41% | -$1.84M |
|
|
BCR
158
DELISTED
CR Bard Inc.
BCR
| $2.65M | 0.02% |
19,786
-8,700
| -31% | -$1.15M |
|
159
Altria Group
MO
$122B
| $2.54M | 0.02% |
66,100
+11,500
| +21% | +$425K |
|
160
Royal Gold
RGLD
$17.1B
| $2.54M | 0.02% |
55,100
+22,500
| +69% | +$1.06M |
|
161
Range Resources
RRC
$9.11B
| $2.48M | 0.02% |
29,400
+9,700
| +49% | +$754K |
|
|
SWN
162
DELISTED
Southwestern Energy Company
SWN
| $2.47M | 0.02% |
62,800
-28,896
| -32% | -$1.09M |
|
163
Eli Lilly
LLY
$1.07T
| $2.46M | 0.02% |
48,239
+29,200
| +153% | +$1.46M |
|
164
Akamai
AKAM
$16.8B
| $2.44M | 0.02% |
+51,833
| New | +$2.45M |
|
165
EQT Corp
EQT
$33.2B
| $2.42M | 0.02% |
49,599
+17,084
| +53% | +$807K |
|
166
CSX Corp
CSX
$98.6B
| $2.38M | 0.02% |
+247,815
| New | +$2.22M |
|
167
Halliburton
HAL
$27.9B
| $2.37M | 0.02% |
46,600
+600
| +1% | +$31K |
|
168
Gold Fields
GFI
$29.2B
| $2.35M | 0.02% |
734,700
+361,800
| +97% | +$1.48M |
|
|
NGD
169
DELISTED
New Gold Inc
NGD
| $2.32M | 0.02% |
444,000
+195,900
| +79% | +$1.07M |
|
|
170
Intel
INTC
$466B
| $2.13M | 0.02% |
82,053
-643,800
| -89% | -$15.6M |
|
171
Corning
GLW
$126B
| $2.06M | 0.02% |
115,745
-242,755
| -68% | -$4M |
|
172
Corpay
CPAY
$24.2B
| $1.83M | 0.01% |
+15,600
| New | +$1.79M |
|
173
Jabil
JBL
$32.8B
| $1.81M | 0.01% |
103,719
+84,903
| +451% | +$1.72M |
|
174
Union Pacific
UNP
$183B
| $1.74M | 0.01% |
+20,746
| New | +$1.64M |
|
175
SLB Ltd
SLB
$77.8B
| $1.73M | 0.01% |
19,187
+12,000
| +167% | +$1.08M |
|
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Bridgewater Associates's Q4 2013 Portfolio in Review
As of Q4 2013, Bridgewater Associates held 378 positions worth $12.5B, up 5% from $11.9B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Bridgewater Associates's Q4 2013 filing shows 67 new, 162 increased, 63 reduced and 85 closed positions. Its largest new stake was PepsiCo: 286,977 shares worth $23.8M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $266M.
By sector, the portfolio is most concentrated in Technology at 2.4% of assets, up from 2.2% a quarter earlier, followed by Energy and Materials.
- Bridgewater Associates's largest Q4 2013 buy was PepsiCo: 286,977 shares worth $23.8M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q4 2013, an estimated $147M increase.
- Bridgewater Associates's biggest Q4 2013 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $266M.
- Bridgewater Associates fully exited Valero Energy in Q4 2013, selling an estimated $14.2M.
- Bridgewater Associates's ten largest holdings make up 90% of its $12.5B portfolio in Q4 2013.
- Bridgewater Associates opened 67 new positions and closed 85 in Q4 2013.
- Bridgewater Associates's portfolio value rose 5% quarter-over-quarter to $12.5B.
Based on Bridgewater Associates's 13F filing for Q4 2013, filed 12 Feb 2014.