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
|
+$146M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$95.4M |
| 3 |
HP
HPQ
|
+$20.2M |
| 4 |
IBM
IBM
|
+$17.3M |
| 5 |
Ralph Lauren
RL
|
+$14.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$285M |
| 2 |
F5
FFIV
|
+$22.3M |
| 3 |
ANDV
Andeavor
ANDV
|
+$20.1M |
| 4 |
Franklin Resources
BEN
|
+$18.3M |
| 5 |
Cognizant
CTSH
|
+$17.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.18% |
| 2 | Energy | 1.76% |
| 3 | Healthcare | 1.18% |
| 4 | Consumer Discretionary | 1.12% |
| 5 | Materials | 0.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Sherwin-Williams
SHW
$78.3B
| $1.06M | 0.01% |
+17,490
| New | +$1.03M |
|
|
K
202
DELISTED
Kellanova
K
| $1.03M | 0.01% |
+18,744
| New | +$1.12M |
|
|
MHFI
203
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $1.03M | 0.01% |
15,683
+4,920
| +46% | +$298K |
|
204
Travelers Companies
TRV
$80.8B
| $1.01M | 0.01% |
11,880
-3,101
| -21% | -$256K |
|
205
Crown Holdings
CCK
$12.8B
| $1.01M | 0.01% |
23,800
+11,200
| +89% | +$490K |
|
206
PNC Financial Services
PNC
$100B
| $1M | 0.01% |
13,800
+7,400
| +116% | +$552K |
|
207
Owens Corning
OC
$11.5B
| $993K | 0.01% |
26,151
+19,451
| +290% | +$759K |
|
208
KLA
KLAC
$275B
| $991K | 0.01% |
162,920
-1,916,070
| -92% | -$11.2M |
|
|
VMW
209
DELISTED
VMware, Inc
VMW
| $979K | 0.01% |
12,100
+7,200
| +147% | +$582K |
|
210
IAMGOLD
IAG
$8.47B
| $958K | 0.01% |
200,100
-10,100
| -5% | -$53K |
|
211
Eli Lilly
LLY
$1.07T
| $958K | 0.01% |
+19,039
| New | +$997K |
|
212
KeyCorp
KEY
$24.3B
| $948K | 0.01% |
83,142
+72,800
| +704% | +$870K |
|
213
Prologis
PLD
$138B
| $942K | 0.01% |
25,045
-900
| -3% | -$33.9K |
|
214
CNX Resources
CNX
$4.85B
| $929K | 0.01% |
33,144
-2,880
| -8% | -$75.3K |
|
215
Cameco
CCJ
$38.3B
| $897K | 0.01% |
49,600
-2,400
| -5% | -$48.2K |
|
|
HOT
216
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| $886K | 0.01% |
+13,329
| New | +$882K |
|
217
PG&E
PCG
$47.8B
| $862K | 0.01% |
+21,074
| New | +$916K |
|
218
Zimmer Biomet
ZBH
$17.7B
| $862K | 0.01% |
10,807
-52,590
| -83% | -$4.14M |
|
219
Becton Dickinson
BDX
$43.1B
| $823K | 0.01% |
8,438
-4,408
| -34% | -$432K |
|
|
XLNX
220
DELISTED
Xilinx Inc
XLNX
| $819K | 0.01% |
17,471
-60,522
| -78% | -$2.72M |
|
221
Deere & Co
DE
$170B
| $775K | 0.01% |
+9,518
| New | +$793K |
|
222
Northern Trust
NTRS
$22.2B
| $774K | 0.01% |
+14,242
| New | +$818K |
|
|
CPN
223
DELISTED
Calpine Corporation
CPN
| $750K | 0.01% |
+38,576
| New | +$765K |
|
224
Harley-Davidson
HOG
$2.68B
| $749K | 0.01% |
+11,661
| New | +$690K |
|
225
CBRE Group
CBRE
$40.8B
| $747K | 0.01% |
+32,281
| New | +$747K |
|
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Bridgewater Associates's Q3 2013 Portfolio in Review
As of Q3 2013, Bridgewater Associates held 443 positions worth $11.9B, up 3.9% from $11.4B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Bridgewater Associates's Q3 2013 filing shows 120 new, 86 increased, 103 reduced and 132 closed positions. Its largest new stake was HP: 1,832,945 shares worth $17.5M. The largest sale was iShares MSCI Emerging Markets ETF, an estimated $285M.
By sector, the portfolio is most concentrated in Technology at 2.2% of assets, down from 2.5% a quarter earlier, followed by Energy and Healthcare.
- Bridgewater Associates's largest Q3 2013 buy was HP: 1,832,945 shares worth $17.5M.
- Bridgewater Associates added most to State Street SPDR S&P 500 ETF Trust in Q3 2013, an estimated $146M increase.
- Bridgewater Associates's biggest Q3 2013 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $285M.
- Bridgewater Associates fully exited Andeavor in Q3 2013, selling an estimated $20.1M.
- Bridgewater Associates's ten largest holdings make up 91% of its $11.9B portfolio in Q3 2013.
- Bridgewater Associates opened 120 new positions and closed 132 in Q3 2013.
- Bridgewater Associates's portfolio value rose 3.9% quarter-over-quarter to $11.9B.
Based on Bridgewater Associates's 13F filing for Q3 2013, filed 13 Nov 2013.