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 |
Visa
V
|
+$148M |
| 2 |
Mondelez International
MDLZ
|
+$144M |
| 3 |
Johnson & Johnson
JNJ
|
+$64.3M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$53.4M |
| 5 |
Microsoft
MSFT
|
+$51.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Medtronic
MDT
|
+$225M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$151M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$91.6M |
| 4 |
Walmart Inc
WMT
|
+$87.7M |
| 5 |
JPMorgan Chase
JPM
|
+$79.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 29.71% |
| 2 | Healthcare | 20.65% |
| 3 | Consumer Discretionary | 10.85% |
| 4 | Financials | 7.63% |
| 5 | Technology | 4.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Texas Roadhouse
TXRH
$13.6B
| $16.3M | 0.08% |
187,177
-9,121
| -5% | -$796K |
|
|
LSI
177
DELISTED
Life Storage, Inc.
LSI
| $16.2M | 0.08% |
146,398
+509
| +0.3% | +$62.5K |
|
178
Teleflex
TFX
$5.89B
| $16.2M | 0.08% |
80,445
+3,544
| +5% | +$848K |
|
|
BKI
179
DELISTED
Black Knight, Inc. Common Stock
BKI
| $16.1M | 0.08% |
248,588
+143,348
| +136% | +$9.44M |
|
180
Lam Research
LRCX
$377B
| $16.1M | 0.08% |
439,370
-215,020
| -33% | -$9.57M |
|
181
Fidelity National Information Services
FIS
$23.2B
| $16M | 0.08% |
212,121
+20,217
| +11% | +$1.88M |
|
|
SWAV
182
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
| $15.6M | 0.08% |
56,028
+2,609
| +5% | +$663K |
|
183
US Bancorp
USB
$98.1B
| $15.1M | 0.08% |
375,135
-31,270
| -8% | -$1.45M |
|
184
CF Industries
CF
$19.3B
| $15M | 0.08% |
156,008
-58,519
| -27% | -$5.71M |
|
185
MetLife
MET
$62.3B
| $15M | 0.08% |
246,859
-201,752
| -45% | -$12.9M |
|
186
Grand Canyon Education
LOPE
$3.84B
| $14.9M | 0.08% |
181,364
+11,031
| +6% | +$956K |
|
187
Cognizant
CTSH
$24.9B
| $14.8M | 0.07% |
257,544
-78,302
| -23% | -$5.13M |
|
|
DQ
188
Daqo New Energy
DQ
$823M
| $14.6M | 0.07% |
275,335
+13,610
| +5% | +$868K |
|
189
Southern Company
SO
$109B
| $14.6M | 0.07% |
214,669
-279,871
| -57% | -$21.2M |
|
|
MRSH
190
Marsh
MRSH
$90.9B
| $14.6M | 0.07% |
+97,633
| New | +$15.7M |
|
191
Diamondback Energy
FANG
$57.1B
| $14.4M | 0.07% |
119,667
-60,601
| -34% | -$7.56M |
|
192
Devon Energy
DVN
$51.8B
| $14.4M | 0.07% |
238,763
-124,897
| -34% | -$7.76M |
|
193
Expedia Group
EXPE
$35.7B
| $14.2M | 0.07% |
151,938
+43,917
| +41% | +$4.48M |
|
194
TSMC
TSM
$2.1T
| $14.2M | 0.07% |
+206,714
| New | +$17.1M |
|
195
Cohen & Steers
CNS
$4.2B
| $14.1M | 0.07% |
224,737
+449
| +0.2% | +$32.1K |
|
196
NetApp
NTAP
$34.9B
| $14.1M | 0.07% |
227,532
-17,574
| -7% | -$1.22M |
|
197
Marathon Petroleum
MPC
$91.9B
| $13.9M | 0.07% |
140,330
-163,560
| -54% | -$15.3M |
|
|
PXD
198
DELISTED
Pioneer Natural Resource Co.
PXD
| $13.7M | 0.07% |
63,485
-22,965
| -27% | -$5.25M |
|
199
Truist Financial
TFC
$63.4B
| $13.7M | 0.07% |
314,470
-46,441
| -13% | -$2.23M |
|
200
Parker-Hannifin
PH
$123B
| $13.7M | 0.07% |
56,423
+40,146
| +247% | +$10.9M |
|
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Bridgewater Associates's Q3 2022 Portfolio in Review
As of Q3 2022, Bridgewater Associates held 1,045 positions worth $19.8B, down 16% from $23.6B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bridgewater Associates withdrew a net $2.53B in Q3 2022, closing 179 positions and reducing 498 holdings. Its most notable exit was Medtronic, an estimated $225M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 30% of assets, up from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Bridgewater Associates opened a new position in Accenture worth $29.3M.
- Bridgewater Associates's largest Q3 2022 buy was Accenture: 113,811 shares worth $29.3M.
- Bridgewater Associates added most to Visa in Q3 2022, an estimated $148M increase.
- Bridgewater Associates's biggest Q3 2022 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $151M.
- Bridgewater Associates fully exited Medtronic in Q3 2022, selling an estimated $225M.
- Bridgewater Associates's ten largest holdings make up 32% of its $19.8B portfolio in Q3 2022.
- Bridgewater Associates opened 60 new positions and closed 179 in Q3 2022.
- Bridgewater Associates's portfolio value fell 16% quarter-over-quarter to $19.8B.
Based on Bridgewater Associates's 13F filing for Q3 2022, filed 10 Nov 2022.