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Funds (13F)

Bridgewater Associates, LP

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+10.4%
S&P 500 +14.1%
Last 12 months
+8.6%
S&P 500 +12.1%
Sharpe ratio
0.54
S&P 500 0.78
Biggest drop
−40.0%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$37.0k
Bridgewater Associates, LPS&P 500 $10,000 in Bridgewater Associates, LP from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Bridgewater Associates, LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Bridgewater Associates, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+10.4%+14.1%
Total return+270%+470%
Last 12 months+8.6%+12.1%
Last 3 months−2.0%—
Last month−3.9%—
This year so far+6.5%—
Volatility a year17.4%16.0%
Sharpe ratio0.540.78
Biggest drop−40.0%−31.8%
Beta to the S&P 5001.001.00
Alpha a year (t-statistic)−3.0% (−1.63)—
Share of weeks up58%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
NVDA4.7%——
AVGO3.0%——
AMZN2.9%——
GOOGL2.8%——
LRCX2.5%——
AMD1.9%——
MSFT1.6%——
NEM1.5%——
AMAT1.3%——
ORCL1.3%——
STX1.2%——
JNJ1.0%——
GEV0.9%——
UNP0.8%——
MU0.8%——
MO0.8%——
APH0.7%——
ASML0.7%——
B0.7%——
CLS0.7%——
VST0.7%——
SHEL0.7%——
SE0.7%——
NUE0.7%——
PCAR0.7%——
WDC0.7%——
CSX0.6%——
PBR0.6%——
AAPL0.6%——
LLY0.6%——
PCG0.6%——
KLAC0.6%——
FIX0.6%——
NXPI0.6%——
WFC0.6%——
EIX0.6%——
MPC0.5%——
STLD0.5%——
ES0.5%——
TEL0.5%——
ADI0.5%——
HCA0.5%——
TPR0.5%——
APP0.5%——
VLO0.5%——
C0.4%——
EOG0.4%——
ED0.4%——
BKR0.4%——
NI0.4%——
FTI0.4%——
NOW0.4%——
SLB0.4%——
META0.4%——
UTHR0.4%——
CFG0.4%——
MNST0.3%——
BAC0.3%——
DUK0.3%——
OVV0.3%——
HAL0.3%——
MRVL0.3%——
AU0.3%——
TFC0.3%——
PPL0.3%——
MCK0.3%——
AR0.3%——
LUV0.3%——
MET0.3%——
NTNX0.3%——
CIEN0.3%——
CRDO0.3%——
INSM0.3%——
SBSW0.3%——
TER0.3%——
APA0.3%——
TLN0.3%——
BPOP0.3%——
CVS0.3%——
TEVA0.3%——
RDDT0.3%——
TKR0.3%——
ANET0.3%——
FHN0.3%——
VZ0.3%——
BWA0.3%——
NVT0.3%——
ZION0.3%——
EXE0.3%——
NRG0.2%——
ZBRA0.2%——
TOST0.2%——
VALE0.2%——
RIG0.2%——
SPGI0.2%——
DLTR0.2%——
SU0.2%——
GE0.2%——
MDT0.2%——
ONTO0.2%——
GILD0.2%——
KEY0.2%——
HALO0.2%——
LII0.2%——
NOV0.2%——
DINO0.2%——
NBIX0.2%——
FNB0.2%——
UHS0.2%——
ABNB0.2%——
JBL0.2%——
DECK0.2%——
BBIO0.2%——
WAL0.2%——
VMC0.2%——
REGN0.2%——
URI0.2%——
XYZ0.2%——
CAH0.2%——
BTI0.2%——
AEM0.2%——
DVN0.2%——
CRS0.2%——
QCOM0.2%——
ALNY0.2%——
UAL0.2%——
WMT0.2%——
COF0.2%——
KEYS0.2%——
TMUS0.2%——
AME0.2%——
V0.2%——
PR0.2%——
GRAB0.2%——
RRX0.2%——
GMED0.2%——
MFC0.2%——
GPOR0.2%——
CF0.2%——
DXCM0.2%——
VTRS0.2%——
RGA0.2%——
EME0.2%——
GSK0.2%——
SANM0.2%——
OTIS0.2%——
FORM0.2%——
EG0.2%——
CVX0.1%——
MCHP0.1%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+10.4%+14.1%0.540.78−40.0%1.00−3.0% (−1.63)
2018 onwards5 Jan 2018 to 2 Nov 2026+8.6%+13.9%0.380.66−40.0%0.99−4.4% (−1.71)
Last three years3 Nov 2023 to 2 Nov 2026+18.3%+21.8%0.911.16−17.4%0.97−2.3% (−0.71)
Last year7 Nov 2025 to 2 Nov 2026+11.3%+14.2%0.510.84−9.8%1.16−3.6% (−0.48)
DateCompanyAction
21 Aug 2026ZSBought
21 Aug 2026YETIBought
21 Aug 2026XRAYBought
21 Aug 2026XPBought
21 Aug 2026XELBought
21 Aug 2026WSOBought
21 Aug 2026WRBBought
21 Aug 2026WOLFBought
21 Aug 2026WKBought
21 Aug 2026WEXBought
21 Aug 2026WERNBought
21 Aug 2026WECBought
21 Aug 2026WDAYBought
21 Aug 2026WABBought
21 Aug 2026VVVBought
21 Aug 2026VSHBought
21 Aug 2026VRSKBought
21 Aug 2026VNOMBought
21 Aug 2026VMCBought
21 Aug 2026VLTOBought
21 Aug 2026VGBought
21 Aug 2026VEEVBought
21 Aug 2026VCBought
21 Aug 2026UUUUBought
21 Aug 2026UNHBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026YELPSold
21 Aug 2026XYLSold
21 Aug 2026WWWSold
21 Aug 2026WUSold
21 Aug 2026WTMSold
21 Aug 2026WRBYSold
21 Aug 2026WPMSold
21 Aug 2026WPCSold
21 Aug 2026WMGSold
21 Aug 2026WLYSold
21 Aug 2026WINASold
21 Aug 2026WENSold
21 Aug 2026WAYSold
21 Aug 2026WSold
21 Aug 2026VTRSold
21 Aug 2026VRRMSold
21 Aug 2026VMRKSold
21 Aug 2026VMISold
21 Aug 2026UPSSold
21 Aug 2026UMCSold
21 Aug 2026ULTASold
21 Aug 2026UDRSold
21 Aug 2026UBERSold
21 Aug 2026TWLOSold
21 Aug 2026TTMISold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest