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 |
Alphabet (Google) Class A
GOOGL
|
+$476M |
| 2 |
Apple
AAPL
|
+$335M |
| 3 |
NVIDIA
NVDA
|
+$316M |
| 4 |
Amazon
AMZN
|
+$175M |
| 5 |
Microsoft
MSFT
|
+$155M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pinduoduo
PDD
|
+$117M |
| 2 |
Costco
COST
|
+$109M |
| 3 |
Coca-Cola
KO
|
+$103M |
| 4 |
Cisco
CSCO
|
+$90M |
| 5 |
Procter & Gamble
PG
|
+$84.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 18.93% |
| 2 | Healthcare | 17.5% |
| 3 | Technology | 13.05% |
| 4 | Consumer Discretionary | 11.08% |
| 5 | Communication Services | 9.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
iShares Core S&P 500 ETF
IVV
$879B
| $1.1B | 5.57% |
2,096,972
-25,242
| -1% | -$12.6M |
|
2
iShares Core MSCI Emerging Markets ETF
IEMG
$150B
| $963M | 4.87% |
18,663,470
-29,080
| -0.2% | -$1.46M |
|
|
3
Alphabet (Google) Class A
GOOGL
$3.92T
| $810M | 4.1% |
5,368,853
+3,324,416
| +163% | +$476M |
|
|
4
Procter & Gamble
PG
$342B
| $666M | 3.37% |
4,106,729
-536,793
| -12% | -$84.2M |
|
|
5
NVIDIA
NVDA
$5.09T
| $637M | 3.22% |
7,045,990
+4,361,100
| +162% | +$316M |
|
6
Meta Platforms (Facebook)
META
$1.53T
| $483M | 2.44% |
994,051
+327,992
| +49% | +$146M |
|
7
Johnson & Johnson
JNJ
$632B
| $450M | 2.27% |
2,843,233
+68,546
| +2% | +$10.9M |
|
8
Walmart Inc
WMT
$868B
| $414M | 2.1% |
6,886,092
-745,275
| -10% | -$42.6M |
|
|
9
Costco
COST
$414B
| $392M | 1.98% |
534,828
-152,744
| -22% | -$109M |
|
|
10
Coca-Cola
KO
$353B
| $385M | 1.95% |
6,288,687
-1,714,657
| -21% | -$103M |
|
11
PepsiCo
PEP
$186B
| $375M | 1.89% |
2,141,024
-300,826
| -12% | -$50.6M |
|
12
State Street SPDR S&P 500 ETF Trust
SPY
$780B
| $374M | 1.89% |
714,394
-108,857
| -13% | -$54.2M |
|
13
McDonald's
MCD
$189B
| $343M | 1.74% |
1,218,039
-137,625
| -10% | -$40M |
|
|
14
Apple
AAPL
$4.89T
| $316M | 1.6% |
1,842,154
+1,841,045
| +166,009% | +$335M |
|
15
Merck
MRK
$324B
| $276M | 1.39% |
2,090,256
+133,194
| +7% | +$16.4M |
|
16
Visa
V
$672B
| $264M | 1.33% |
945,064
-140,655
| -13% | -$38.8M |
|
|
17
Microsoft
MSFT
$2.85T
| $244M | 1.23% |
579,525
+381,793
| +193% | +$155M |
|
18
Eli Lilly
LLY
$1.07T
| $218M | 1.1% |
280,386
-37,200
| -12% | -$26.5M |
|
19
Vanguard FTSE Emerging Markets ETF
VWO
$119B
| $202M | 1.02% |
4,826,743
-545,294
| -10% | -$22.3M |
|
20
Abbott
ABT
$180B
| $197M | 1% |
1,736,157
-161,062
| -8% | -$18.5M |
|
21
CVS Health
CVS
$137B
| $196M | 0.99% |
2,454,617
-599,787
| -20% | -$45.8M |
|
|
22
Amazon
AMZN
$2.51T
| $189M | 0.96% |
+1,047,891
| New | +$175M |
|
|
23
Pinduoduo
PDD
$118B
| $180M | 0.91% |
1,544,497
-892,158
| -37% | -$117M |
|
24
Starbucks
SBUX
$119B
| $178M | 0.9% |
1,948,837
-470,227
| -19% | -$43.7M |
|
25
Comcast
CMCSA
$79.3B
| $174M | 0.88% |
4,012,375
+68,868
| +2% | +$2.97M |
|
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Bridgewater Associates's Q1 2024 Portfolio in Review
As of Q1 2024, Bridgewater Associates held 814 positions worth $19.8B, up 11% from $17.9B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bridgewater Associates's Q1 2024 filing shows 72 new, 203 increased, 394 reduced and 137 closed positions. Its largest new stake was Amazon: 1,047,891 shares worth $189M. The largest sale was Pinduoduo, an estimated $117M.
By sector, the portfolio is most concentrated in Consumer Staples at 19% of assets, down from 24% a quarter earlier, followed by Healthcare and Technology.
- Bridgewater Associates's largest Q1 2024 buy was Amazon: 1,047,891 shares worth $189M.
- Bridgewater Associates added most to Alphabet (Google) Class A in Q1 2024, an estimated $476M increase.
- Bridgewater Associates's biggest Q1 2024 reduction was Pinduoduo, cutting an estimated $117M.
- Bridgewater Associates fully exited American Homes 4 Rent in Q1 2024, selling an estimated $21.4M.
- Bridgewater Associates's ten largest holdings make up 32% of its $19.8B portfolio in Q1 2024.
- Bridgewater Associates opened 72 new positions and closed 137 in Q1 2024.
- Bridgewater Associates's portfolio value rose 11% quarter-over-quarter to $19.8B.
Based on Bridgewater Associates's 13F filing for Q1 2024, filed 14 May 2024.