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
| 1 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
$84M |
| 2 |
Royal Bank of Canada
RY
|
$32.3M |
| 3 |
Toronto Dominion Bank
TD
|
$32M |
| 4 |
Cummins
CMI
|
$31.3M |
| 5 |
Toll Brothers
TOL
|
$29.5M |
Top Sells
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
$176M |
| 2 |
SPDR S&P 500 ETF Trust
SPY
|
$148M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
$71M |
| 4 |
NFX
Newfield Exploration
NFX
|
$34.3M |
| 5 |
Procter & Gamble
PG
|
$30.9M |
Sector Composition
| 1 | Financials | 3.42% |
| 2 | Healthcare | 2.95% |
| 3 | Consumer Discretionary | 2.83% |
| 4 | Energy | 2.39% |
| 5 | Industrials | 2.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
SPDR S&P 500 ETF Trust
SPY
$658B
| $2.27B | 22.72% | 8,382,986 -545,037 | -6% | -$148M |
|
|
2
Vanguard FTSE Emerging Markets ETF
VWO
$96.4B
| $2.11B | 21.04% | 49,907,024 -1,682,087 | -3% | -$71M |
|
|
3
iShares Core MSCI Emerging Markets ETF
IEMG
$102B
| $554M | 5.53% | 10,543,478 +1,600,431 | +18% | +$84M |
|
4
SPDR Gold Trust
GLD
$107B
| $464M | 4.63% | 3,908,999 | – | – |
|
|
5
iShares MSCI Emerging Markets ETF
EEM
$19B
| $322M | 3.22% | 7,428,501 -4,062,352 | -35% | -$176M |
|
6
iShares MSCI Brazil ETF
EWZ
$5.45B
| $294M | 2.93% | 9,160,838 +808,488 | +10% | +$25.9M |
|
7
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.5B
| $287M | 2.86% | 2,502,134 | – | – |
|
8
iShares 20+ Year Treasury Bond ETF
TLT
$47.8B
| $240M | 2.4% | 1,973,849 | – | – |
|
9
iShares Core S&P 500 ETF
IVV
$662B
| $220M | 2.2% | 804,993 | – | – |
|
10
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $214M | 2.14% | 2,518,163 | – | – |
|
11
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$13.4B
| $188M | 1.88% | 1,762,022 | – | – |
|
12
Vanguard FTSE Developed Markets ETF
VEA
$171B
| $166M | 1.66% | 3,865,979 | – | – |
|
13
iShares MSCI EAFE ETF
EFA
$66B
| $164M | 1.64% | 2,448,104 | – | – |
|
14
iShares Core MSCI EAFE ETF
IEFA
$150B
| $151M | 1.51% | 2,386,437 | – | – |
|
15
iShares Gold Trust
IAU
$50.6B
| $136M | 1.36% | 11,315,785 | – | – |
|
16
iShares TIPS Bond ETF
TIP
$13.6B
| $126M | 1.26% | 1,120,184 | – | – |
|
|
17
Royal Bank of Canada
RY
$205B
| $45M | 0.45% | 598,476 +429,755 | +255% | +$32.3M |
|
18
CVS Health
CVS
$92.8B
| $45M | 0.45% | 698,767 +28,583 | +4% | +$1.84M |
|
|
19
Toronto Dominion Bank
TD
$128B
| $44.3M | 0.44% | 765,681 +552,984 | +260% | +$32M |
|
|
CELG
20
DELISTED
Celgene Corp
CELG
| $43.4M | 0.43% | 546,369 +94,005 | +21% | +$7.47M |
|
21
AT&T
T
$209B
| $40.8M | 0.41% | 1,270,443 +220,140 | +21% | +$7.07M |
|
|
WBA
22
DELISTED
Walgreens Boots Alliance
WBA
| $39.5M | 0.39% | 657,649 +343,062 | +109% | +$20.6M |
|
|
23
Toll Brothers
TOL
$13.4B
| $38M | 0.38% | 1,027,048 +798,617 | +350% | +$29.5M |
|
24
Cardinal Health
CAH
$35.5B
| $36.8M | 0.37% | 752,906 +146,124 | +24% | +$7.14M |
|
25
iShares MSCI Taiwan ETF
EWT
$6.11B
| $35.3M | 0.35% | 980,530 -8 | -0% | -$288 |
|