Ray Dalio’s Bridgewater Associates is the world's biggest hedge fund firm, managing roughly $169 billion in assets. According to its latest 13F filing, however, its public equity portfolio is valued at only $12.83 billion. The portfolio is mainly focused on financial stocks, which account for 87 percent of its total value.
This article will look into Bridgewater’s top 3 positions and some other moves outside of the financial sector.
The podium is (and has been, for years) occupied entirely by ETFs: Vanguard Emerging Markets Stock Index Fd VWO, SPDR S&P 500 ETF Trust SPY, and iShares MSCI Emerging Markets Indx (ETF) EEM. These three positions account for more than 86 percent of the equity portfolio’s total value, with a combined worth of over $11 billion.
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The largest bet continues to be placed on the VWO ETF. After disposing of 4,213,310 shares over the quarter, the fund owns 111,999,698 shares, worth more than $4.5 billion.
Second in line is the SPY ETF, which saw the fund boost its exposure by 6 percent between January and March, inclusive, to 16,408,500 shares. Completing the top three is the EEM ETF, which witnessed a 2 percent reduction in Bridgewater’s exposure. The fund disclosed ownership of 76,743,491 shares, worth more than $3 billion.
Other Interesting Moves
The world’s largest hedge fund’s biggest non-ETF stake is placed in the world’s most valuable company: Apple Inc. AAPL. After almost tripling its participation over the quarter, Bridgewater declared holding 732,997 shares of the tech behemoth, worth about $91 million.
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The most valuable newcomer was The Coca-Cola Co KO, which saw Dalio acquire 577,774 shares, worth more than $23 million.
The largest position closed was the one at United States Steel Corporation X. The fund sold 569,965 shares over the quarter, taking its holdings to zero shares.
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