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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$217M |
| 2 |
Apple
AAPL
|
+$57.2M |
| 3 |
Coca-Cola
KO
|
+$24.2M |
| 4 |
POT
Potash Corp Of Saskatchewan
POT
|
+$21.7M |
| 5 |
Johnson & Johnson
JNJ
|
+$20.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$171M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$71.3M |
| 3 |
Gilead Sciences
GILD
|
+$52M |
| 4 |
Microsoft
MSFT
|
+$21.8M |
| 5 |
X
US Steel
X
|
+$15.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.03% |
| 2 | Materials | 2.19% |
| 3 | Energy | 1.97% |
| 4 | Healthcare | 1.2% |
| 5 | Industrials | 0.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Emerson Electric
EMR
$83.6B
| $3.6M | 0.03% |
63,497
+15,330
| +32% | +$891K |
|
152
Cenovus Energy
CVE
$52.3B
| $3.57M | 0.03% |
211,900
+29,200
| +16% | +$539K |
|
153
KLA
KLAC
$266B
| $3.51M | 0.03% |
+602,920
| New | +$3.86M |
|
154
Gold Fields
GFI
$29.4B
| $3.48M | 0.03% |
869,100
+51,300
| +6% | +$248K |
|
155
Aflac
AFL
$64.4B
| $3.38M | 0.03% |
105,770
-14,200
| -12% | -$433K |
|
156
Eldorado Gold
EGO
$8.48B
| $3.38M | 0.03% |
147,520
-6,180
| -4% | -$169K |
|
157
EQT Corp
EQT
$32.5B
| $3.38M | 0.03% |
74,950
+5,695
| +8% | +$241K |
|
|
SWN
158
DELISTED
Southwestern Energy Company
SWN
| $3.37M | 0.03% |
145,283
-419,118
| -74% | -$10.4M |
|
|
SE
159
DELISTED
Spectra Energy Corp Wi
SE
| $3.35M | 0.03% |
92,525
+77,700
| +524% | +$2.72M |
|
|
CTRA
160
DELISTED
Coterra Energy
CTRA
| $3.26M | 0.03% |
110,500
+10,000
| +10% | +$283K |
|
|
RHT
161
DELISTED
Red Hat Inc
RHT
| $3.2M | 0.02% |
42,190
+12,823
| +44% | +$869K |
|
162
General Dynamics
GD
$105B
| $3.17M | 0.02% |
+23,390
| New | +$3.21M |
|
163
Analog Devices
ADI
$181B
| $3.06M | 0.02% |
48,549
-20,060
| -29% | -$1.14M |
|
164
HF Sinclair
DINO
$16.4B
| $3.04M | 0.02% |
75,542
+47,516
| +170% | +$1.82M |
|
165
Intuit
INTU
$83.1B
| $3.04M | 0.02% |
+31,372
| New | +$2.91M |
|
166
Elevance Health
ELV
$82.1B
| $3.02M | 0.02% |
19,541
-7,600
| -28% | -$1.08M |
|
|
ARG
167
DELISTED
Airgas Inc
ARG
| $2.93M | 0.02% |
+27,600
| New | +$3.13M |
|
168
3M
MMM
$91.9B
| $2.9M | 0.02% |
+21,033
| New | +$2.9M |
|
|
CELG
169
DELISTED
Celgene Corp
CELG
| $2.8M | 0.02% |
+24,296
| New | +$2.9M |
|
170
C.H. Robinson
CHRW
$20.6B
| $2.76M | 0.02% |
37,726
+10,700
| +40% | +$782K |
|
171
Kinross Gold
KGC
$28.6B
| $2.68M | 0.02% |
1,205,000
-20,200
| -2% | -$58.8K |
|
|
VRN
172
DELISTED
Veren
VRN
| $2.67M | 0.02% |
123,218
+18,781
| +18% | +$428K |
|
|
DNR
173
DELISTED
Denbury Resources, Inc.
DNR
| $2.64M | 0.02% |
361,885
-1,246,130
| -77% | -$9.65M |
|
174
Cigna
CI
$77B
| $2.63M | 0.02% |
20,345
-6,636
| -25% | -$771K |
|
175
Altria Group
MO
$122B
| $2.61M | 0.02% |
+52,100
| New | +$2.77M |
|
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Bridgewater Associates's Q1 2015 Portfolio in Review
As of Q1 2015, Bridgewater Associates held 425 positions worth $12.8B, up 2.4% from $12.5B the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Bridgewater Associates's Q1 2015 filing shows 90 new, 147 increased, 87 reduced and 97 closed positions. Its largest new stake was Coca-Cola: 577,774 shares worth $23.4M. The largest sale was Vanguard FTSE Emerging Markets ETF, an estimated $171M.
By sector, the portfolio is most concentrated in Technology at 3% of assets, up from 2.4% a quarter earlier, followed by Materials and Energy.
- Bridgewater Associates's largest Q1 2015 buy was Coca-Cola: 577,774 shares worth $23.4M.
- Bridgewater Associates added most to State Street SPDR S&P 500 ETF Trust in Q1 2015, an estimated $217M increase.
- Bridgewater Associates's biggest Q1 2015 reduction was Vanguard FTSE Emerging Markets ETF, cutting an estimated $171M.
- Bridgewater Associates fully exited US Steel in Q1 2015, selling an estimated $15.2M.
- Bridgewater Associates's ten largest holdings make up 88% of its $12.8B portfolio in Q1 2015.
- Bridgewater Associates opened 90 new positions and closed 97 in Q1 2015.
- Bridgewater Associates's portfolio value rose 2.4% quarter-over-quarter to $12.8B.
Based on Bridgewater Associates's 13F filing for Q1 2015, filed 14 May 2015.