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 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Pultegroup
PHM
$24.5B
| $14.2M | 0.08% |
248,179
-149,782
| -38% | -$7.68M |
|
152
Fortune Brands Innovations
FBIN
$5.88B
| $14.1M | 0.08% |
153,830
-93,830
| -38% | -$8.12M |
|
153
Truist Financial
TFC
$63.5B
| $13.9M | 0.08% |
238,158
-289,302
| -55% | -$17.7M |
|
154
Whirlpool
WHR
$2.47B
| $13.9M | 0.08% |
59,420
-35,569
| -37% | -$7.81M |
|
155
Tencent Music
TME
$15.5B
| $13.7M | 0.08% |
1,998,208
+407,508
| +26% | +$3M |
|
156
A.O. Smith
AOS
$8.24B
| $13.1M | 0.08% |
152,790
-94,674
| -38% | -$7.22M |
|
157
Aon
AON
$78.3B
| $13.1M | 0.08% |
43,533
-48,905
| -53% | -$14.7M |
|
158
Inspire Medical Systems
INSP
$1.44B
| $12.8M | 0.07% |
55,627
+8,207
| +17% | +$2M |
|
159
RPM International
RPM
$13.8B
| $12.8M | 0.07% |
126,317
-70,599
| -36% | -$6.43M |
|
160
Vipshop
VIPS
$7.3B
| $12.7M | 0.07% |
1,515,986
+311,866
| +26% | +$3.26M |
|
161
Henry Schein
HSIC
$9.7B
| $12.7M | 0.07% |
163,506
+24,793
| +18% | +$1.9M |
|
162
Humana
HUM
$44B
| $12.5M | 0.07% |
26,987
+22,797
| +544% | +$10.1M |
|
163
Lockheed Martin
LMT
$132B
| $12.5M | 0.07% |
35,164
+24,240
| +222% | +$8.38M |
|
164
Texas Roadhouse
TXRH
$13.7B
| $12.4M | 0.07% |
138,852
+4,832
| +4% | +$431K |
|
165
Automatic Data Processing
ADP
$105B
| $12.3M | 0.07% |
50,066
+37,196
| +289% | +$8.42M |
|
166
Zai Lab
ZLAB
$2.06B
| $12.3M | 0.07% |
196,144
+37,656
| +24% | +$3.19M |
|
167
Carlisle Companies
CSL
$15B
| $12.3M | 0.07% |
+49,585
| New | +$11.4M |
|
168
Helen of Troy
HELE
$649M
| $12.2M | 0.07% |
50,032
+3,521
| +8% | +$835K |
|
169
Owens Corning
OC
$11.2B
| $12.2M | 0.07% |
134,936
-36,224
| -21% | -$3.29M |
|
170
Williams-Sonoma
WSM
$27.5B
| $11.9M | 0.07% |
141,006
-80,152
| -36% | -$7.47M |
|
171
Mohawk Industries
MHK
$7.29B
| $11.8M | 0.07% |
65,006
-38,624
| -37% | -$6.89M |
|
172
General Motors
GM
$80B
| $11.7M | 0.07% |
200,366
-227,665
| -53% | -$13.3M |
|
173
Comcast
CMCSA
$84B
| $11.7M | 0.07% |
232,103
+221,289
| +2,046% | +$11.5M |
|
174
Mondelez International
MDLZ
$80.5B
| $11.7M | 0.07% |
+176,036
| New | +$10.9M |
|
175
Restaurant Brands International
QSR
$25.8B
| $11.6M | 0.07% |
191,820
-537
| -0.3% | -$31.7K |
|
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Bridgewater Associates's Q4 2021 Portfolio in Review
As of Q4 2021, Bridgewater Associates held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bridgewater Associates withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Bridgewater Associates opened a new position in RTX Corp worth $16M.
- Bridgewater Associates's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Bridgewater Associates added most to Alibaba in Q4 2021, an estimated $142M increase.
- Bridgewater Associates's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Bridgewater Associates fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Bridgewater Associates's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Bridgewater Associates opened 137 new positions and closed 89 in Q4 2021.
- Bridgewater Associates's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.