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 |
Cleveland-Cliffs
CLF
|
+$36.6M |
| 2 |
ENDP
Endo International plc
ENDP
|
+$28.4M |
| 3 |
iShares MSCI Brazil ETF
EWZ
|
+$22.1M |
| 4 |
Devon Energy
DVN
|
+$19.4M |
| 5 |
GE Aerospace
GE
|
+$18.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.16B |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$773M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$52.5M |
| 4 |
Apple
AAPL
|
+$48.2M |
| 5 |
Microsoft
MSFT
|
+$40.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 2.89% |
| 2 | Consumer Discretionary | 2.25% |
| 3 | Materials | 2.16% |
| 4 | Healthcare | 2.09% |
| 5 | Technology | 1.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Las Vegas Sands
LVS
$30.5B
| $1.98M | 0.02% |
34,667
-107,933
| -76% | -$5.87M |
|
152
McDonald's
MCD
$188B
| $1.93M | 0.02% |
14,886
-8,144
| -35% | -$1.02M |
|
153
Exelon
EXC
$48.6B
| $1.91M | 0.02% |
74,438
-246,199
| -77% | -$6.27M |
|
154
Assurant
AIZ
$13.7B
| $1.9M | 0.02% |
+19,819
| New | +$1.92M |
|
155
Range Resources
RRC
$9.11B
| $1.86M | 0.02% |
63,947
+1,543
| +2% | +$47.7K |
|
156
Keurig Dr Pepper
KDP
$40.4B
| $1.82M | 0.02% |
+18,541
| New | +$1.73M |
|
157
International Paper
IP
$22.3B
| $1.79M | 0.02% |
37,308
-29,029
| -44% | -$1.45M |
|
158
Huntington Bancshares
HBAN
$35.1B
| $1.77M | 0.02% |
132,196
+102,496
| +345% | +$1.4M |
|
159
Meta Platforms (Facebook)
META
$1.51T
| $1.76M | 0.02% |
12,411
-87,589
| -88% | -$11.7M |
|
160
Whirlpool
WHR
$2.42B
| $1.7M | 0.02% |
9,944
+7,444
| +298% | +$1.32M |
|
|
MXIM
161
DELISTED
Maxim Integrated Products
MXIM
| $1.7M | 0.02% |
37,908
-294,585
| -89% | -$12.9M |
|
|
WBA
162
DELISTED
Walgreens Boots Alliance
WBA
| $1.68M | 0.02% |
+20,187
| New | +$1.69M |
|
|
ALXN
163
DELISTED
Alexion Pharmaceuticals
ALXN
| $1.62M | 0.02% |
+13,370
| New | +$1.72M |
|
164
Vornado Realty Trust
VNO
$7.47B
| $1.62M | 0.02% |
+19,924
| New | +$1.7M |
|
165
Lowe's Companies
LOW
$116B
| $1.61M | 0.02% |
19,612
+412
| +2% | +$31.5K |
|
|
NGD
166
DELISTED
New Gold Inc
NGD
| $1.58M | 0.02% |
529,566
-36,034
| -6% | -$116K |
|
|
167
Microsoft
MSFT
$2.84T
| $1.56M | 0.02% |
23,710
-628,838
| -96% | -$40.3M |
|
|
TRQ
168
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $1.54M | 0.02% |
50,520
-190
| -0.4% | -$6.41K |
|
|
SCG
169
DELISTED
Scana
SCG
| $1.47M | 0.02% |
+22,498
| New | +$1.55M |
|
|
VRN
170
DELISTED
Veren
VRN
| $1.46M | 0.02% |
135,178
+1,278
| +1% | +$14.8K |
|
171
Blackrock
BLK
$164B
| $1.43M | 0.02% |
3,730
-40,970
| -92% | -$15.7M |
|
172
Danaher
DHR
$135B
| $1.42M | 0.02% |
+18,768
| New | +$1.4M |
|
173
Sysco
SYY
$39.7B
| $1.42M | 0.02% |
+27,417
| New | +$1.45M |
|
174
Thermo Fisher Scientific
TMO
$211B
| $1.36M | 0.02% |
8,844
-19,856
| -69% | -$3.03M |
|
175
Estee Lauder
EL
$29B
| $1.34M | 0.02% |
15,863
-72,537
| -82% | -$5.99M |
|
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Bridgewater Associates's Q1 2017 Portfolio in Review
As of Q1 2017, Bridgewater Associates held 340 positions worth $8.82B, down 16% from $10.5B the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Bridgewater Associates withdrew a net $2.5B in Q1 2017, closing 104 positions and reducing 103 holdings. Its most notable exit was Apple, an estimated $48.2M position sold in full.
By sector, the portfolio is most concentrated in Energy at 2.9% of assets, up from 2.8% a quarter earlier, followed by Consumer Discretionary and Materials.
Against the trend, Bridgewater Associates opened a new position in Cleveland-Cliffs worth $31.6M.
- Bridgewater Associates's largest Q1 2017 buy was Cleveland-Cliffs: 3,848,295 shares worth $31.6M.
- Bridgewater Associates added most to Endo International plc in Q1 2017, an estimated $28.4M increase.
- Bridgewater Associates's biggest Q1 2017 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $1.16B.
- Bridgewater Associates fully exited Apple in Q1 2017, selling an estimated $48.2M.
- Bridgewater Associates's ten largest holdings make up 86% of its $8.82B portfolio in Q1 2017.
- Bridgewater Associates opened 73 new positions and closed 104 in Q1 2017.
- Bridgewater Associates's portfolio value fell 16% quarter-over-quarter to $8.82B.
Based on Bridgewater Associates's 13F filing for Q1 2017, filed 11 May 2017.