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
|
+$253M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$149M |
| 3 |
Apple
AAPL
|
+$22.9M |
| 4 |
GE Aerospace
GE
|
+$22.3M |
| 5 |
JNPR
Juniper Networks
JNPR
|
+$20.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gen Digital
GEN
|
+$22.1M |
| 2 |
Johnson & Johnson
JNJ
|
+$19.9M |
| 3 |
Cisco
CSCO
|
+$14M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$11.7M |
| 5 |
CELG
Celgene Corp
CELG
|
+$9.94M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.04% |
| 2 | Energy | 2.47% |
| 3 | Materials | 1.34% |
| 4 | Industrials | 0.97% |
| 5 | Consumer Discretionary | 0.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GAP
176
The Gap Inc
GAP
$6.84B
| $2.09M | 0.02% |
50,245
+34,871
| +227% | +$1.41M |
|
|
SNDK
177
DELISTED
SANDISK CORP
SNDK
| $2.06M | 0.02% |
19,700
-40,400
| -67% | -$3.67M |
|
178
Elevance Health
ELV
$81.9B
| $2.04M | 0.02% |
18,926
+2,900
| +18% | +$299K |
|
179
American Electric Power
AEP
$73.7B
| $2.04M | 0.02% |
36,505
+27,092
| +288% | +$1.43M |
|
180
CF Industries
CF
$19.2B
| $2.02M | 0.02% |
+42,000
| New | +$2.05M |
|
181
Terex
TEX
$7.98B
| $2.01M | 0.02% |
48,936
+24,400
| +99% | +$992K |
|
|
TLM
182
DELISTED
TALISMAN ENERGY INC
TLM
| $1.98M | 0.01% |
186,800
| – | – |
|
183
Helmerich & Payne
HP
$3.53B
| $1.94M | 0.01% |
16,683
-33,900
| -67% | -$3.71M |
|
184
Altria Group
MO
$122B
| $1.93M | 0.01% |
46,000
-179,400
| -80% | -$7.22M |
|
185
Dollar Tree
DLTR
$23.1B
| $1.91M | 0.01% |
+35,139
| New | +$1.85M |
|
186
Royal Caribbean
RCL
$78.7B
| $1.9M | 0.01% |
+34,100
| New | +$1.84M |
|
187
CNX Resources
CNX
$4.85B
| $1.89M | 0.01% |
49,224
| – | – |
|
188
Masco
MAS
$16B
| $1.88M | 0.01% |
96,502
+3,755
| +4% | +$70.8K |
|
|
PARA
189
DELISTED
Paramount Global Class B
PARA
| $1.86M | 0.01% |
29,884
+11,100
| +59% | +$661K |
|
190
Timken Company
TKR
$9.82B
| $1.85M | 0.01% |
38,159
-12,014
| -24% | -$544K |
|
191
Illinois Tool Works
ITW
$81.4B
| $1.81M | 0.01% |
20,724
-10,700
| -34% | -$920K |
|
192
Williams-Sonoma
WSM
$26.7B
| $1.81M | 0.01% |
50,506
+8,200
| +19% | +$270K |
|
|
KSU
193
DELISTED
Kansas City Southern
KSU
| $1.81M | 0.01% |
16,823
+8,100
| +93% | +$837K |
|
194
Warner Bros
WBD
$64.6B
| $1.78M | 0.01% |
+46,968
| New | +$1.85M |
|
195
American Eagle Outfitters
AEO
$2.85B
| $1.78M | 0.01% |
158,800
+54,500
| +52% | +$619K |
|
196
Brinker International
EAT
$8.02B
| $1.76M | 0.01% |
36,124
+10,900
| +43% | +$547K |
|
197
Steel Dynamics
STLD
$35.6B
| $1.75M | 0.01% |
97,754
+24,600
| +34% | +$442K |
|
|
AGU
198
DELISTED
Agrium
AGU
| $1.74M | 0.01% |
+18,961
| New | +$1.76M |
|
199
Constellation Brands
STZ
$22.2B
| $1.73M | 0.01% |
+19,619
| New | +$1.62M |
|
|
RAD
200
DELISTED
Rite Aid Corporation
RAD
| $1.68M | 0.01% |
11,690
-42,605
| -78% | -$6.29M |
|
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Bridgewater Associates's Q2 2014 Portfolio in Review
As of Q2 2014, Bridgewater Associates held 404 positions worth $13.3B, up 9.2% from $12.2B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Bridgewater Associates deployed $438M of net new capital in Q2 2014, opening 65 new positions and adding to 128 existing holdings. Its largest new stake was Bed Bath & Beyond Inc: 255,200 shares worth $14.6M.
By sector, the portfolio is most concentrated in Technology at 3% of assets, up from 2.6% a quarter earlier, followed by Energy and Materials.
On the sell side, the largest reduction was Gen Digital, an estimated $22.1M trimmed.
- Bridgewater Associates's largest Q2 2014 buy was Bed Bath & Beyond Inc: 255,200 shares worth $14.6M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q2 2014, an estimated $253M increase.
- Bridgewater Associates's biggest Q2 2014 reduction was Gen Digital, cutting an estimated $22.1M.
- Bridgewater Associates fully exited Berkshire Hathaway Class B in Q2 2014, selling an estimated $11.7M.
- Bridgewater Associates's ten largest holdings make up 90% of its $13.3B portfolio in Q2 2014.
- Bridgewater Associates opened 65 new positions and closed 101 in Q2 2014.
- Bridgewater Associates's portfolio value rose 9.2% quarter-over-quarter to $13.3B.
Based on Bridgewater Associates's 13F filing for Q2 2014, filed 12 Aug 2014.