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
|
+$147M |
| 2 |
PepsiCo
PEP
|
+$23.8M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$20.5M |
| 4 |
Welltower
WELL
|
+$18.3M |
| 5 |
CTXS
Citrix Systems Inc
CTXS
|
+$16.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$266M |
| 2 |
Micron Technology
MU
|
+$25.9M |
| 3 |
AGN
Allergan Inc
AGN
|
+$17.7M |
| 4 |
Intel
INTC
|
+$15.6M |
| 5 |
Valero Energy
VLO
|
+$14.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.38% |
| 2 | Energy | 2.15% |
| 3 | Materials | 1.21% |
| 4 | Healthcare | 0.97% |
| 5 | Consumer Discretionary | 0.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Cardinal Health
CAH
$53.4B
| $1.71M | 0.01% |
25,646
-49,700
| -66% | -$3.04M |
|
|
JWN
177
DELISTED
Nordstrom
JWN
| $1.68M | 0.01% |
+27,103
| New | +$1.63M |
|
178
Albemarle
ALB
$13.5B
| $1.62M | 0.01% |
+25,555
| New | +$1.7M |
|
|
CXO
179
DELISTED
CONCHO RESOURCES INC.
CXO
| $1.59M | 0.01% |
+14,700
| New | +$1.59M |
|
180
Norfolk Southern
NSC
$78.8B
| $1.58M | 0.01% |
17,015
+2,358
| +16% | +$202K |
|
181
CNX Resources
CNX
$4.85B
| $1.56M | 0.01% |
49,224
+16,080
| +49% | +$492K |
|
182
NOV
NOV
$7.45B
| $1.54M | 0.01% |
+21,533
| New | +$1.57M |
|
183
Public Service Enterprise Group
PEG
$39.8B
| $1.5M | 0.01% |
+46,648
| New | +$1.54M |
|
184
Boston Scientific
BSX
$65.8B
| $1.49M | 0.01% |
+123,584
| New | +$1.46M |
|
185
Cameco
CCJ
$38.3B
| $1.48M | 0.01% |
71,400
+21,800
| +44% | +$423K |
|
186
Liberty Global Class A
LBTYA
$3.31B
| $1.46M | 0.01% |
39,769
+21,582
| +119% | +$724K |
|
|
MJN
187
DELISTED
Mead Johnson Nutrition Company
MJN
| $1.44M | 0.01% |
+17,200
| New | +$1.4M |
|
188
Booking.com
BKNG
$138B
| $1.4M | 0.01% |
30,000
+20,000
| +200% | +$890K |
|
189
Xerox
XRX
$337M
| $1.39M | 0.01% |
+43,263
| New | +$1.25M |
|
190
United Airlines
UAL
$38.4B
| $1.38M | 0.01% |
36,400
+27,300
| +300% | +$956K |
|
191
Wolfspeed
WOLF
$1.2B
| $1.37M | 0.01% |
21,900
-36,979
| -63% | -$2.28M |
|
192
Mastercard
MA
$477B
| $1.31M | 0.01% |
+15,710
| New | +$1.17M |
|
|
CIE
193
DELISTED
Cobalt International Energy, Inc
CIE
| $1.29M | 0.01% |
5,233
+1,766
| +51% | +$552K |
|
194
Constellation Brands
STZ
$22.2B
| $1.23M | 0.01% |
17,425
+6,100
| +54% | +$408K |
|
195
IAMGOLD
IAG
$8.47B
| $1.2M | 0.01% |
360,000
+159,900
| +80% | +$693K |
|
|
TRQ
196
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $1.16M | 0.01% |
34,950
+18,570
| +113% | +$625K |
|
197
PPG Industries
PPG
$25.9B
| $1.14M | 0.01% |
12,032
+6,600
| +122% | +$595K |
|
|
CELG
198
DELISTED
Celgene Corp
CELG
| $1.13M | 0.01% |
+13,400
| New | +$1.06M |
|
199
Sysco
SYY
$39.7B
| $1.13M | 0.01% |
31,179
-345,751
| -92% | -$11.7M |
|
200
Alamos Gold
AGI
$12.4B
| $1.05M | 0.01% |
+87,122
| New | +$1.18M |
|
Similar funds
Bridgewater Associates's Q4 2013 Portfolio in Review
As of Q4 2013, Bridgewater Associates held 378 positions worth $12.5B, up 5% from $11.9B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Bridgewater Associates's Q4 2013 filing shows 67 new, 162 increased, 63 reduced and 85 closed positions. Its largest new stake was PepsiCo: 286,977 shares worth $23.8M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $266M.
By sector, the portfolio is most concentrated in Technology at 2.4% of assets, up from 2.2% a quarter earlier, followed by Energy and Materials.
- Bridgewater Associates's largest Q4 2013 buy was PepsiCo: 286,977 shares worth $23.8M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q4 2013, an estimated $147M increase.
- Bridgewater Associates's biggest Q4 2013 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $266M.
- Bridgewater Associates fully exited Valero Energy in Q4 2013, selling an estimated $14.2M.
- Bridgewater Associates's ten largest holdings make up 90% of its $12.5B portfolio in Q4 2013.
- Bridgewater Associates opened 67 new positions and closed 85 in Q4 2013.
- Bridgewater Associates's portfolio value rose 5% quarter-over-quarter to $12.5B.
Based on Bridgewater Associates's 13F filing for Q4 2013, filed 12 Feb 2014.