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
|
+$505M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$443M |
| 3 |
Alibaba
BABA
|
+$370M |
| 4 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$284M |
| 5 |
Procter & Gamble
PG
|
+$256M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lowe's Companies
LOW
|
+$40M |
| 2 |
Home Depot
HD
|
+$38.9M |
| 3 |
JD.com
JD
|
+$35.3M |
| 4 |
SPDR Gold Trust
GLD
|
+$31.6M |
| 5 |
Tesla
TSLA
|
+$26.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 25.83% |
| 2 | Healthcare | 17.87% |
| 3 | Consumer Discretionary | 13.79% |
| 4 | Technology | 4.61% |
| 5 | Financials | 4.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Dominion Energy
D
$60.8B
| $17.3M | 0.07% |
203,080
+180,263
| +790% | +$14.5M |
|
202
HP
HPQ
$24.9B
| $17.1M | 0.07% |
472,168
+387,889
| +460% | +$14.3M |
|
203
Keysight
KEYS
$54.5B
| $16.8M | 0.07% |
+106,547
| New | +$17.7M |
|
204
SLB Ltd
SLB
$73.6B
| $16.6M | 0.07% |
401,977
+384,569
| +2,209% | +$15.1M |
|
205
NVIDIA
NVDA
$4.86T
| $16.4M | 0.07% |
+599,380
| New | +$15M |
|
206
Advanced Micro Devices
AMD
$776B
| $16.1M | 0.06% |
+147,102
| New | +$17.6M |
|
207
US Bancorp
USB
$98.2B
| $16M | 0.06% |
301,811
+36,507
| +14% | +$2.1M |
|
208
PNC Financial Services
PNC
$99.7B
| $16M | 0.06% |
86,915
+10,959
| +14% | +$2.22M |
|
209
MarketAxess Holdings
MKTX
$5.71B
| $15.9M | 0.06% |
46,664
+38,978
| +507% | +$14.1M |
|
210
Universal Health Services
UHS
$10.2B
| $15.8M | 0.06% |
108,829
+24,996
| +30% | +$3.46M |
|
211
KLA
KLAC
$239B
| $15.7M | 0.06% |
+427,790
| New | +$16M |
|
212
Truist Financial
TFC
$63.3B
| $15.6M | 0.06% |
274,765
+36,607
| +15% | +$2.26M |
|
213
Zai Lab
ZLAB
$2.06B
| $15.6M | 0.06% |
353,968
+157,824
| +80% | +$7.63M |
|
214
Paychex
PAYX
$41.6B
| $15.6M | 0.06% |
114,056
+72,314
| +173% | +$8.88M |
|
215
Omnicell
OMCL
$1.61B
| $15.5M | 0.06% |
119,975
+29,591
| +33% | +$4.26M |
|
216
Humana
HUM
$43.7B
| $15.4M | 0.06% |
35,311
+8,324
| +31% | +$3.48M |
|
217
Travelers Companies
TRV
$78.1B
| $15.2M | 0.06% |
83,294
+60,349
| +263% | +$10.3M |
|
218
Texas Roadhouse
TXRH
$13.5B
| $15.2M | 0.06% |
181,094
+42,242
| +30% | +$3.62M |
|
219
Tencent Music
TME
$15.5B
| $15.1M | 0.06% |
3,110,046
+1,111,838
| +56% | +$6.25M |
|
220
Electronic Arts
EA
$53B
| $15.1M | 0.06% |
+119,061
| New | +$15.5M |
|
221
Digital Realty Trust
DLR
$69.7B
| $14.9M | 0.06% |
104,802
+78,496
| +298% | +$11.3M |
|
222
Sherwin-Williams
SHW
$82.7B
| $14.7M | 0.06% |
58,810
-48,314
| -45% | -$13.3M |
|
223
Cummins
CMI
$87.5B
| $14.6M | 0.06% |
+71,069
| New | +$15.4M |
|
224
AvalonBay Communities
AVB
$26.5B
| $14.5M | 0.06% |
58,428
+26,587
| +83% | +$6.49M |
|
225
Sempra
SRE
$57.9B
| $14.5M | 0.06% |
172,196
+141,758
| +466% | +$10.2M |
|
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Bridgewater Associates's Q1 2022 Portfolio in Review
As of Q1 2022, Bridgewater Associates held 991 positions worth $24.8B, up 44% from $17.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bridgewater Associates deployed $8.89B of net new capital in Q1 2022, opening 260 new positions and adding to 547 existing holdings. Its largest new stake was Medtronic: 1,880,088 shares worth $209M.
By sector, the portfolio is most concentrated in Consumer Staples at 26% of assets, down from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Lowe's Companies, an estimated $40M trimmed.
- Bridgewater Associates's largest Q1 2022 buy was Medtronic: 1,880,088 shares worth $209M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q1 2022, an estimated $505M increase.
- Bridgewater Associates's biggest Q1 2022 reduction was Lowe's Companies, cutting an estimated $40M.
- Bridgewater Associates fully exited Tesla in Q1 2022, selling an estimated $26.9M.
- Bridgewater Associates's ten largest holdings make up 34% of its $24.8B portfolio in Q1 2022.
- Bridgewater Associates opened 260 new positions and closed 23 in Q1 2022.
- Bridgewater Associates's portfolio value rose 44% quarter-over-quarter to $24.8B.
Based on Bridgewater Associates's 13F filing for Q1 2022, filed 13 May 2022.