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 | |
|---|---|---|---|---|---|---|
|
1
Vanguard FTSE Emerging Markets ETF
VWO
$119B
| $4.08B | 34.35% |
101,601,162
+2,412,142
| +2% | +$95.4M |
|
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$777B
| $3.48B | 29.28% |
20,689,200
+870,300
| +4% | +$146M |
|
|
3
iShares MSCI Emerging Markets ETF
EEM
$28.6B
| $3.01B | 25.37% |
73,912,030
-7,207,648
| -9% | -$285M |
|
4
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
| $41.3M | 0.35% |
363,755
| – | – |
|
5
Micron Technology
MU
$1.12T
| $34.9M | 0.29% |
1,997,717
+778,557
| +64% | +$11.3M |
|
6
iShares Core S&P 500 ETF
IVV
$875B
| $29.6M | 0.25% |
175,000
| – | – |
|
7
Oracle
ORCL
$346B
| $25.2M | 0.21% |
760,482
-213,100
| -22% | -$6.91M |
|
|
8
IBM
IBM
$195B
| $22.8M | 0.19% |
128,784
+95,082
| +282% | +$17.3M |
|
|
AGN
9
DELISTED
Allergan Inc
AGN
| $20.4M | 0.17% |
226,041
-23,300
| -9% | -$2.09M |
|
10
Suncor Energy
SU
$78.4B
| $18.1M | 0.15% |
506,400
-65,100
| -11% | -$2.17M |
|
|
11
HP
HPQ
$22.4B
| $17.5M | 0.15% |
+1,832,945
| New | +$20.2M |
|
12
Intel
INTC
$504B
| $16.6M | 0.14% |
725,853
+152,000
| +26% | +$3.5M |
|
13
Baxter International
BAX
$11.2B
| $16.5M | 0.14% |
462,207
+357,123
| +340% | +$13.9M |
|
14
Southern Copper
SCCO
$143B
| $15.1M | 0.13% |
597,315
+243,257
| +69% | +$6.29M |
|
|
RHT
15
DELISTED
Red Hat Inc
RHT
| $14.7M | 0.12% |
317,506
+73,664
| +30% | +$3.74M |
|
16
Valero Energy
VLO
$90.6B
| $14.2M | 0.12% |
415,457
-130,800
| -24% | -$4.62M |
|
17
Home Depot
HD
$324B
| $13.6M | 0.11% |
179,680
+65,600
| +58% | +$5.06M |
|
|
18
Ralph Lauren
RL
$22.1B
| $13.6M | 0.11% |
+82,536
| New | +$14.3M |
|
|
ESRX
19
DELISTED
Express Scripts Holding Company
ESRX
| $13.5M | 0.11% |
218,588
+84,300
| +63% | +$5.45M |
|
20
Intuitive Surgical
ISRG
$119B
| $13.5M | 0.11% |
322,182
+228,951
| +246% | +$10.1M |
|
21
Imperial Oil
IMO
$62.3B
| $12.6M | 0.11% |
286,400
-52,400
| -15% | -$2.2M |
|
22
American Express
AXP
$233B
| $12.3M | 0.1% |
163,037
+33,500
| +26% | +$2.52M |
|
23
GE Aerospace
GE
$362B
| $12.2M | 0.1% |
+106,788
| New | +$12.2M |
|
24
UnitedHealth
UNH
$385B
| $12M | 0.1% |
168,069
-57,700
| -26% | -$4.13M |
|
25
Sysco
SYY
$39.1B
| $12M | 0.1% |
+376,930
| New | +$12.6M |
|
Similar funds
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.