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 Core S&P 500 ETF
IVV
|
+$77.8M |
| 2 |
iShares China Large-Cap ETF
FXI
|
+$60.5M |
| 3 |
Merck
MRK
|
+$50.9M |
| 4 |
Pinduoduo
PDD
|
+$40.5M |
| 5 |
iShares MSCI China ETF
MCHI
|
+$36.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$162M |
| 2 |
Meta Platforms (Facebook)
META
|
+$115M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$82.8M |
| 4 |
iShares Gold Trust
IAU
|
+$66M |
| 5 |
Johnson & Johnson
JNJ
|
+$65.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.63% |
| 2 | Healthcare | 21.92% |
| 3 | Consumer Discretionary | 11.78% |
| 4 | Financials | 5.4% |
| 5 | Communication Services | 4.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Kanzhun
BZ
$7.07B
| $12.3M | 0.08% |
819,037
-902,514
| -52% | -$15.1M |
|
177
Cognizant
CTSH
$23.8B
| $12.2M | 0.08% |
186,239
-65,790
| -26% | -$4.07M |
|
178
Wabtec
WAB
$51.7B
| $12M | 0.07% |
109,267
+30,013
| +38% | +$2.98M |
|
179
PACCAR
PCAR
$72.7B
| $11.9M | 0.07% |
142,028
+137,677
| +3,164% | +$10.2M |
|
180
Allison Transmission
ALSN
$10B
| $11.8M | 0.07% |
209,675
-366
| -0.2% | -$18K |
|
|
SWAV
181
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
| $11.4M | 0.07% |
39,792
-4,360
| -10% | -$1.21M |
|
182
e.l.f. Beauty
ELF
$4.96B
| $11.3M | 0.07% |
98,606
-7,723
| -7% | -$743K |
|
183
Grand Canyon Education
LOPE
$3.99B
| $11.2M | 0.07% |
108,059
-10,216
| -9% | -$1.12M |
|
184
Spotify
SPOT
$105B
| $11.1M | 0.07% |
+68,847
| New | +$9.98M |
|
185
Arista Networks
ANET
$214B
| $11M | 0.07% |
272,632
+244,744
| +878% | +$9.46M |
|
186
EQT Corp
EQT
$32.3B
| $10.9M | 0.07% |
265,974
-258,141
| -49% | -$9.13M |
|
187
Enphase Energy
ENPH
$4.79B
| $10.9M | 0.07% |
+65,052
| New | +$11.6M |
|
188
Liberty Broadband Class C
LBRDK
$4.72B
| $10.8M | 0.07% |
134,929
+47,325
| +54% | +$3.66M |
|
189
Devon Energy
DVN
$49.2B
| $10.6M | 0.07% |
218,331
-2,878
| -1% | -$145K |
|
190
Humana
HUM
$46.7B
| $10.5M | 0.06% |
23,398
+11,054
| +90% | +$5.56M |
|
191
Wingstop
WING
$3.67B
| $10.4M | 0.06% |
51,873
+18,473
| +55% | +$3.61M |
|
192
AMN Healthcare
AMN
$1.35B
| $10.4M | 0.06% |
95,021
+38,776
| +69% | +$3.68M |
|
193
Sprouts Farmers Market
SFM
$7.31B
| $10.3M | 0.06% |
279,486
-36,434
| -12% | -$1.27M |
|
194
Inspire Medical Systems
INSP
$1.5B
| $10.2M | 0.06% |
31,565
-3,594
| -10% | -$1.03M |
|
195
CSX Corp
CSX
$94.2B
| $10.1M | 0.06% |
296,473
-10,428
| -3% | -$330K |
|
196
Flowers Foods
FLO
$1.6B
| $10M | 0.06% |
402,299
+55,185
| +16% | +$1.46M |
|
197
WisdomTree
WT
$2.97B
| $9.74M | 0.06% |
1,419,201
-2,274,976
| -62% | -$15.2M |
|
198
NetApp
NTAP
$34.2B
| $9.69M | 0.06% |
126,863
-3,624
| -3% | -$245K |
|
199
Cummins
CMI
$88.5B
| $9.67M | 0.06% |
+39,464
| New | +$8.94M |
|
200
Atkore
ATKR
$2.62B
| $9.67M | 0.06% |
62,000
+7,654
| +14% | +$1M |
|
Similar funds
Bridgewater Associates's Q2 2023 Portfolio in Review
As of Q2 2023, Bridgewater Associates held 787 positions worth $16.2B, down 1.2% from $16.4B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Bridgewater Associates withdrew a net $701M in Q2 2023, closing 91 positions and reducing 342 holdings. Its most notable exit was SPDR Gold Trust, an estimated $162M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Bridgewater Associates opened a new position in AT&T worth $31.6M.
- Bridgewater Associates's largest Q2 2023 buy was AT&T: 1,982,375 shares worth $31.6M.
- Bridgewater Associates added most to iShares Core S&P 500 ETF in Q2 2023, an estimated $77.8M increase.
- Bridgewater Associates's biggest Q2 2023 reduction was Meta Platforms (Facebook), cutting an estimated $115M.
- Bridgewater Associates fully exited SPDR Gold Trust in Q2 2023, selling an estimated $162M.
- Bridgewater Associates's ten largest holdings make up 35% of its $16.2B portfolio in Q2 2023.
- Bridgewater Associates opened 77 new positions and closed 91 in Q2 2023.
- Bridgewater Associates's portfolio value fell 1.2% quarter-over-quarter to $16.2B.
Based on Bridgewater Associates's 13F filing for Q2 2023, filed 11 Aug 2023.