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
|
+$219M |
| 2 |
Gilead Sciences
GILD
|
+$30.6M |
| 3 |
Microsoft
MSFT
|
+$27.5M |
| 4 |
POT
Potash Corp Of Saskatchewan
POT
|
+$20.5M |
| 5 |
Eastman Chemical
EMN
|
+$19.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$384M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$62M |
| 3 |
Apple
AAPL
|
+$30.1M |
| 4 |
RTX Corp
RTX
|
+$20.5M |
| 5 |
Fossil Group
FOSL
|
+$20M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.42% |
| 2 | Energy | 2.21% |
| 3 | Materials | 2.04% |
| 4 | Healthcare | 1.26% |
| 5 | Industrials | 0.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CLR
151
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $3.51M | 0.03% |
91,616
+22,716
| +33% | +$1.12M |
|
152
Kinross Gold
KGC
$28.5B
| $3.45M | 0.03% |
1,225,200
+190,900
| +18% | +$536K |
|
|
ALXN
153
DELISTED
Alexion Pharmaceuticals
ALXN
| $3.42M | 0.03% |
+18,513
| New | +$3.43M |
|
154
Paychex
PAYX
$40.4B
| $3.42M | 0.03% |
+73,972
| New | +$3.42M |
|
155
Elevance Health
ELV
$81.9B
| $3.41M | 0.03% |
+27,141
| New | +$3.35M |
|
|
SNDK
156
DELISTED
SANDISK CORP
SNDK
| $3.3M | 0.03% |
+33,700
| New | +$3.22M |
|
|
CERN
157
DELISTED
Cerner Corp
CERN
| $3.3M | 0.03% |
+50,970
| New | +$3.17M |
|
158
Fluor
FLR
$7.29B
| $3.29M | 0.03% |
54,203
-300
| -0.6% | -$19K |
|
159
Progressive
PGR
$124B
| $3.27M | 0.03% |
121,151
+105,300
| +664% | +$2.78M |
|
160
Annaly Capital Management
NLY
$16.9B
| $3.12M | 0.02% |
72,050
+55,175
| +327% | +$2.49M |
|
|
LLTC
161
DELISTED
Linear Technology Corp
LLTC
| $3.08M | 0.02% |
67,493
-3,900
| -5% | -$170K |
|
|
AET
162
DELISTED
Aetna Inc
AET
| $3.07M | 0.02% |
34,519
-2,400
| -7% | -$201K |
|
163
Parker-Hannifin
PH
$125B
| $2.99M | 0.02% |
23,163
+3,337
| +17% | +$409K |
|
|
QEP
164
DELISTED
QEP RESOURCES, INC.
QEP
| $2.98M | 0.02% |
+147,649
| New | +$3.44M |
|
|
CTRA
165
DELISTED
Coterra Energy
CTRA
| $2.98M | 0.02% |
100,500
+22,200
| +28% | +$698K |
|
166
Emerson Electric
EMR
$82.9B
| $2.97M | 0.02% |
48,167
+40,987
| +571% | +$2.57M |
|
167
Viatris
VTRS
$20.1B
| $2.97M | 0.02% |
52,706
-4,400
| -8% | -$236K |
|
168
EQT Corp
EQT
$33.2B
| $2.85M | 0.02% |
69,255
+17,452
| +34% | +$825K |
|
169
International Paper
IP
$22.3B
| $2.85M | 0.02% |
56,236
-211
| -0.4% | -$10.3K |
|
|
QVCGA
170
DELISTED
QVC Group Inc Series A
QVCGA
| $2.84M | 0.02% |
1,987
+1,490
| +300% | +$1.96M |
|
|
MRSH
171
Marsh
MRSH
$86.3B
| $2.8M | 0.02% |
48,947
+2,249
| +5% | +$123K |
|
172
Phillips 66
PSX
$82.9B
| $2.79M | 0.02% |
+38,950
| New | +$2.87M |
|
173
Cigna
CI
$76.6B
| $2.78M | 0.02% |
26,981
-4,800
| -15% | -$473K |
|
174
Campbell Soup
CPB
$6.51B
| $2.67M | 0.02% |
+60,800
| New | +$2.66M |
|
175
American Express
AXP
$223B
| $2.65M | 0.02% |
28,517
-195,606
| -87% | -$17.5M |
|
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Bridgewater Associates's Q4 2014 Portfolio in Review
As of Q4 2014, Bridgewater Associates held 456 positions worth $12.5B, down 2.4% from $12.8B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Bridgewater Associates's Q4 2014 filing shows 93 new, 144 increased, 94 reduced and 121 closed positions. Its largest new stake was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $384M.
By sector, the portfolio is most concentrated in Technology at 2.4% of assets, down from 2.6% a quarter earlier, followed by Energy and Materials.
- Bridgewater Associates's largest Q4 2014 buy was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M.
- Bridgewater Associates added most to Vanguard FTSE Emerging Markets ETF in Q4 2014, an estimated $219M increase.
- Bridgewater Associates's biggest Q4 2014 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $384M.
- Bridgewater Associates fully exited United Parcel Service in Q4 2014, selling an estimated $14.7M.
- Bridgewater Associates's ten largest holdings make up 89% of its $12.5B portfolio in Q4 2014.
- Bridgewater Associates opened 93 new positions and closed 121 in Q4 2014.
- Bridgewater Associates's portfolio value fell 2.4% quarter-over-quarter to $12.5B.
Based on Bridgewater Associates's 13F filing for Q4 2014, filed 11 Feb 2015.