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
|
+$40.4M |
| 2 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$30.4M |
| 3 |
iShares MSCI Brazil ETF
EWZ
|
+$21.9M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$21.6M |
| 5 |
Intel
INTC
|
+$21.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$36.2M |
| 2 |
BCE
BCE
|
+$29.7M |
| 3 |
VIAB
Viacom Inc. Class B
VIAB
|
+$27.3M |
| 4 |
Exelon
EXC
|
+$23M |
| 5 |
PepsiCo
PEP
|
+$22.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.99% |
| 2 | Energy | 2.82% |
| 3 | Consumer Discretionary | 2.8% |
| 4 | Materials | 2.25% |
| 5 | Healthcare | 2.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Vanguard FTSE Emerging Markets ETF
VWO
$119B
| $2.59B | 32.76% |
74,830,789
+970,143
| +1% | +$30.4M |
|
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$777B
| $2.12B | 26.85% |
10,322,200
-185,400
| -2% | -$36.2M |
|
|
3
iShares MSCI Emerging Markets ETF
EEM
$28.6B
| $1.47B | 18.59% |
42,874,533
+1,303,500
| +3% | +$40.4M |
|
4
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
| $100M | 1.27% |
844,155
| – | – |
|
5
iShares Core S&P 500 ETF
IVV
$875B
| $36.2M | 0.46% |
175,000
| – | – |
|
6
Microsoft
MSFT
$2.83T
| $35.4M | 0.45% |
640,248
+102,240
| +19% | +$5.36M |
|
|
7
Intel
INTC
$504B
| $31.9M | 0.4% |
985,943
+701,928
| +247% | +$21.5M |
|
|
VMW
8
DELISTED
VMware, Inc
VMW
| $28.7M | 0.36% |
548,037
+30,976
| +6% | +$1.53M |
|
|
ESRX
9
DELISTED
Express Scripts Holding Company
ESRX
| $27.1M | 0.34% |
394,218
+301,056
| +323% | +$21.6M |
|
|
10
iShares MSCI Brazil ETF
EWZ
$9.16B
| $26.8M | 0.34% |
+1,018,511
| New | +$21.9M |
|
11
Bread Financial
BFH
$4.19B
| $23.8M | 0.3% |
135,529
+104,462
| +336% | +$18.2M |
|
12
Micron Technology
MU
$1.12T
| $23.6M | 0.3% |
2,256,761
+1,841,812
| +444% | +$20.6M |
|
13
Gilead Sciences
GILD
$162B
| $22.9M | 0.29% |
249,821
+31,700
| +15% | +$2.86M |
|
|
BBBY
14
DELISTED
Bed Bath & Beyond Inc
BBBY
| $22.9M | 0.29% |
462,035
-185,019
| -29% | -$8.67M |
|
15
Cencora
COR
$59.4B
| $21.1M | 0.27% |
243,992
+185,507
| +317% | +$16.5M |
|
16
Walt Disney
DIS
$161B
| $20.9M | 0.26% |
+210,300
| New | +$20.3M |
|
|
ESV
17
DELISTED
Ensco Rowan plc
ESV
| $19.7M | 0.25% |
475,766
+188,865
| +66% | +$7.71M |
|
18
Ralph Lauren
RL
$22.1B
| $19.4M | 0.25% |
201,155
+192,125
| +2,128% | +$18.8M |
|
19
General Dynamics
GD
$103B
| $17.3M | 0.22% |
131,702
+124,212
| +1,658% | +$16.5M |
|
20
Toll Brothers
TOL
$13.7B
| $16.5M | 0.21% |
558,000
+431,826
| +342% | +$12.1M |
|
|
B
21
Barrick Mining
B
$62.3B
| $16.4M | 0.21% |
1,209,103
-539,000
| -31% | -$6.27M |
|
22
Starbucks
SBUX
$118B
| $16M | 0.2% |
268,375
+159,300
| +146% | +$9.28M |
|
23
McDonald's
MCD
$187B
| $15.8M | 0.2% |
+125,826
| New | +$15M |
|
|
GG
24
DELISTED
Goldcorp Inc
GG
| $15.7M | 0.2% |
965,795
-261,027
| -21% | -$3.63M |
|
25
United Rentals
URI
$70.9B
| $15.1M | 0.19% |
242,910
+74,248
| +44% | +$4.13M |
|
Similar funds
Bridgewater Associates's Q1 2016 Portfolio in Review
As of Q1 2016, Bridgewater Associates held 325 positions worth $7.9B, up 2.5% from $7.71B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Bridgewater Associates's Q1 2016 filing shows 62 new, 91 increased, 96 reduced and 72 closed positions. Its largest new stake was iShares MSCI Brazil ETF: 1,018,511 shares worth $26.8M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $36.2M.
By sector, the portfolio is most concentrated in Technology at 4% of assets, down from 4.1% a quarter earlier, followed by Energy and Consumer Discretionary.
- Bridgewater Associates's largest Q1 2016 buy was iShares MSCI Brazil ETF: 1,018,511 shares worth $26.8M.
- Bridgewater Associates added most to iShares MSCI Emerging Markets ETF in Q1 2016, an estimated $40.4M increase.
- Bridgewater Associates's biggest Q1 2016 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $36.2M.
- Bridgewater Associates fully exited BCE in Q1 2016, selling an estimated $29.7M.
- Bridgewater Associates's ten largest holdings make up 82% of its $7.9B portfolio in Q1 2016.
- Bridgewater Associates opened 62 new positions and closed 72 in Q1 2016.
- Bridgewater Associates's portfolio value rose 2.5% quarter-over-quarter to $7.9B.
Based on Bridgewater Associates's 13F filing for Q1 2016, filed 13 May 2016.