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
|
+$709M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$272M |
| 3 |
iShares TIPS Bond ETF
TIP
|
+$141M |
| 4 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$91.1M |
| 5 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$66.1M |
| 2 |
ENDP
Endo International plc
ENDP
|
+$26.8M |
| 3 |
Cleveland-Cliffs
CLF
|
+$15.9M |
| 4 |
Walt Disney
DIS
|
+$14.7M |
| 5 |
IPG
Interpublic Group of Companies
IPG
|
+$14.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 2.42% |
| 2 | Energy | 2.05% |
| 3 | Technology | 1.4% |
| 4 | Healthcare | 1.37% |
| 5 | Financials | 1.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Urban Outfitters
URBN
$6.02B
| $2.62M | 0.02% |
141,064
+26,961
| +24% | +$555K |
|
152
Thomson Reuters
TRI
$39.5B
| $2.6M | 0.02% |
+48,396
| New | +$2.48M |
|
|
POT
153
DELISTED
Potash Corp Of Saskatchewan
POT
| $2.6M | 0.02% |
+159,481
| New | +$2.64M |
|
|
AGU
154
DELISTED
Agrium
AGU
| $2.51M | 0.02% |
+27,718
| New | +$2.56M |
|
155
Salesforce
CRM
$134B
| $2.41M | 0.02% |
27,877
-8,570
| -24% | -$746K |
|
156
Vertex Pharmaceuticals
VRTX
$121B
| $2.41M | 0.02% |
+18,673
| New | +$2.25M |
|
157
Newmont
NEM
$99.1B
| $2.37M | 0.02% |
73,175
-240,923
| -77% | -$8.11M |
|
158
Skyworks Solutions
SWKS
$9.11B
| $2.3M | 0.02% |
+23,973
| New | +$2.46M |
|
159
RTX Corp
RTX
$287B
| $2.2M | 0.02% |
+28,646
| New | +$2.15M |
|
160
Las Vegas Sands
LVS
$30.4B
| $2.11M | 0.02% |
33,081
-1,586
| -5% | -$95.1K |
|
161
Delta Air Lines
DAL
$55.8B
| $2.1M | 0.02% |
+39,060
| New | +$1.91M |
|
162
Cencora
COR
$60B
| $2.06M | 0.02% |
21,760
-67,107
| -76% | -$5.98M |
|
163
McCormick & Company Non-Voting
MKC
$13.5B
| $2.02M | 0.02% |
41,432
+30,078
| +265% | +$1.52M |
|
164
General Mills
GIS
$19.2B
| $2.01M | 0.02% |
+36,319
| New | +$2.07M |
|
165
TE Connectivity
TEL
$58.5B
| $1.88M | 0.02% |
23,896
+16,981
| +246% | +$1.3M |
|
166
Oracle
ORCL
$335B
| $1.82M | 0.02% |
36,347
-85,943
| -70% | -$3.92M |
|
167
Ovintiv
OVV
$17.8B
| $1.81M | 0.02% |
+41,243
| New | +$2.14M |
|
168
United Airlines
UAL
$38.5B
| $1.81M | 0.02% |
+24,001
| New | +$1.81M |
|
169
Keurig Dr Pepper
KDP
$40.3B
| $1.8M | 0.02% |
19,746
+1,205
| +6% | +$113K |
|
|
GOLD
170
DELISTED
Randgold Resources Ltd
GOLD
| $1.79M | 0.02% |
20,208
-72,468
| -78% | -$6.63M |
|
171
Thermo Fisher Scientific
TMO
$209B
| $1.78M | 0.02% |
10,194
+1,350
| +15% | +$227K |
|
|
DFS
172
DELISTED
Discover Financial Services
DFS
| $1.76M | 0.02% |
28,269
+21,039
| +291% | +$1.3M |
|
173
Honeywell
HON
$76.3B
| $1.73M | 0.02% |
14,387
+4,697
| +48% | +$554K |
|
|
PXD
174
DELISTED
Pioneer Natural Resource Co.
PXD
| $1.7M | 0.02% |
10,669
-31,119
| -74% | -$5.32M |
|
|
SJR
175
DELISTED
Shaw Communications Inc.
SJR
| $1.68M | 0.02% |
+76,957
| New | +$1.65M |
|
Similar funds
Bridgewater Associates's Q2 2017 Portfolio in Review
As of Q2 2017, Bridgewater Associates held 410 positions worth $10.9B, up 24% from $8.82B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Bridgewater Associates deployed $1.94B of net new capital in Q2 2017, opening 174 new positions and adding to 72 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 1,233,390 shares worth $140M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 2.4% of assets, up from 2.2% a quarter earlier, followed by Energy and Technology.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $66.1M trimmed.
- Bridgewater Associates's largest Q2 2017 buy was iShares TIPS Bond ETF: 1,233,390 shares worth $140M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q2 2017, an estimated $709M increase.
- Bridgewater Associates's biggest Q2 2017 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $66.1M.
- Bridgewater Associates fully exited Walt Disney in Q2 2017, selling an estimated $14.7M.
- Bridgewater Associates's ten largest holdings make up 83% of its $10.9B portfolio in Q2 2017.
- Bridgewater Associates opened 174 new positions and closed 67 in Q2 2017.
- Bridgewater Associates's portfolio value rose 24% quarter-over-quarter to $10.9B.
Based on Bridgewater Associates's 13F filing for Q2 2017, filed 10 Aug 2017.