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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$693M |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$235M |
| 3 |
Vanguard S&P 500 ETF
VOO
|
+$200M |
| 4 |
Petrobras
PBR
|
+$105M |
| 5 |
Shell
SHEL
|
+$105M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$1.02B |
| 2 |
Amazon
AMZN
|
+$593M |
| 3 |
TSMC
TSM
|
+$423M |
| 4 |
Marvell Technology
MRVL
|
+$354M |
| 5 |
GE Vernova
GEV
|
+$319M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 30.62% |
| 2 | Technology | 21.23% |
| 3 | Industrials | 7.72% |
| 4 | Financials | 6.76% |
| 5 | Healthcare | 6.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
201
PNC Financial Services
PNC
$86.7B
| $20.3M | 0.08% |
82,490
+5,143
| +7% | +$1.15M |
2025 Q2
4 quarters
|
|
202
Unum
UNM
$14.6B
| $20.3M | 0.08% |
226,541
-20,686
| -8% | -$1.71M |
2021 Q2
20 quarters
|
|
203
Krystal Biotech
KRYS
$9.37B
| $20.3M | 0.08% |
54,489
+8,122
| +18% | +$2.43M |
2025 Q3
3 quarters
|
|
204
Procter & Gamble
PG
$370B
| $20.2M | 0.08% |
137,724
-20,182
| -13% | -$2.94M |
2020 Q3
23 quarters
|
|
205
Bank of New York Mellon
BNY
$97.2B
| $20.2M | 0.08% |
139,347
-96,999
| -41% | -$13.3M |
2020 Q4
22 quarters
|
|
206
Watsco Inc
WSO
$12.2B
| $20M | 0.08% |
+47,897
| New | +$19.3M |
2026 Q2
0 quarters
|
|
207
Global X Uranium ETF
URA
$5B
| $19.9M | 0.08% |
455,817
+111,265
| +32% | +$5.64M |
2024 Q1
9 quarters
|
|
208
Dollar General
DG
$29.6B
| $19.8M | 0.08% |
171,855
-44,664
| -21% | -$5.08M |
2020 Q1
25 quarters
|
|
209
Lockheed Martin
LMT
$127B
| $19.7M | 0.08% |
38,715
+27,413
| +243% | +$14.8M |
2025 Q3
3 quarters
|
|
210
Weyerhaeuser
WY
$14.1B
| $19.7M | 0.08% |
821,804
+504,792
| +159% | +$12.3M |
2026 Q1
1 quarter
|
|
211
Charter Communications
CHTR
$12.6B
| $19.6M | 0.08% |
138,062
+93,071
| +207% | +$15.5M |
2024 Q2
8 quarters
|
|
212
Crocs
CROX
$5.9B
| $19.5M | 0.08% |
161,617
-21,377
| -12% | -$2.34M |
2022 Q2
16 quarters
|
|
213
Gold Fields
GFI
$33.5B
| $19.5M | 0.08% |
579,117
+57,706
| +11% | +$2.4M |
2024 Q1
9 quarters
|
|
214
Avista
AVA
$3.07B
| $19.3M | 0.08% |
471,986
+453,895
| +2,509% | +$18.7M |
2026 Q1
1 quarter
|
|
215
Incyte
INCY
$22.9B
| $19.1M | 0.08% |
168,253
+37,957
| +29% | +$3.76M |
2021 Q2
20 quarters
|
|
216
Hancock Whitney
HWC
$5.86B
| $19M | 0.08% |
254,223
+75,816
| +42% | +$5.18M |
2025 Q3
3 quarters
|
|
217
CrowdStrike
CRWD
$233B
| $19M | 0.08% |
99,380
+83,360
| +520% | +$11.8M |
2026 Q1
1 quarter
|
|
218
Boston Scientific
BSX
$64.3B
| $18.9M | 0.08% |
442,036
+365,044
| +474% | +$19.8M |
2020 Q3
23 quarters
|
|
219
Coca-Cola
KO
$404B
| $18.3M | 0.08% |
225,480
+529
| +0.2% | +$41.8K |
2020 Q3
23 quarters
|
|
220
Adobe
ADBE
$95.4B
| $18.2M | 0.07% |
88,751
+87,439
| +6,665% | +$20.7M |
2021 Q2
20 quarters
|
|
221
Las Vegas Sands
LVS
$24.6B
| $18.2M | 0.07% |
393,665
+337,669
| +603% | +$17.5M |
2025 Q3
3 quarters
|
|
222
Avery Dennison
AVY
$13.3B
| $18.2M | 0.07% |
111,819
+101,392
| +972% | +$16.5M |
2025 Q3
3 quarters
|
|
223
FirstEnergy
FE
$26.7B
| $18.1M | 0.07% |
+381,107
| New | +$18.1M |
2026 Q2
0 quarters
|
|
224
Pinnacle West Capital
PNW
$12.5B
| $18.1M | 0.07% |
169,107
+4,283
| +3% | +$438K |
2023 Q4
10 quarters
|
|
225
Star Bulk Carriers
SBLK
$3.23B
| $17.9M | 0.07% |
718,057
+166,728
| +30% | +$4.31M |
2025 Q3
3 quarters
|
|
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Bridgewater Associates's Q2 2026 Portfolio in Review
As of Q2 2026, Bridgewater Associates held 1,206 positions worth $24.4B, up 8.8% from $22.4B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Bridgewater Associates withdrew a net $3.05B in Q2 2026, closing 209 positions and reducing 379 holdings. Its most notable exit was Cisco, an estimated $63.8M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 31% of assets, up from 25% a quarter earlier, followed by Technology and Industrials.
Against the trend, Bridgewater Associates opened a new position in Eversource Energy worth $86.4M.
- Bridgewater Associates's largest Q2 2026 buy was Eversource Energy: 1,195,140 shares worth $86.4M.
- Bridgewater Associates added most to State Street SPDR S&P 500 ETF Trust in Q2 2026, an estimated $693M increase.
- Bridgewater Associates's biggest Q2 2026 reduction was Micron Technology, cutting an estimated $1.02B.
- Bridgewater Associates fully exited Cisco in Q2 2026, selling an estimated $63.8M.
- Bridgewater Associates's ten largest holdings make up 40% of its $24.4B portfolio in Q2 2026.
- Bridgewater Associates opened 213 new positions and closed 209 in Q2 2026.
- Bridgewater Associates's portfolio value rose 8.8% quarter-over-quarter to $24.4B.
Based on Bridgewater Associates's 13F filing for Q2 2026, filed 14 Aug 2026.