Bridgewater's Contrasting Trades
Bridgewater Adds New Stakes in Corning, Allstate, and Raymond James Amid Insider Sales
Key Points
Bridgewater's involvement with Corning (GLW) is complemented by a major insider sale at the same company: Corning's CEO Wendell P. Weeks sold 100,000 shares on June 9 at an average price of $186.46, for a total of $18,646,000, reducing his stake by 9.92% to 908,353 shares valued at about $169,371,500.38.
In Allstate (ALL), insider John E. Dugenske sold 32,996 shares on August 7 at $269.33, totaling $8,886,812.68, and following the sale his ownership dropped to 13,054 shares valued at $3,515,833.82 (a 71.65% decrease).
Allstate COO Mario Rizzo then sold 56,225 shares on August 11 at $264.48, for $14,870,388.00, leaving him with 82,227 shares valued at about $21,747,396.96.
Bridgewater also increased exposure to Putnam BDC Income ETF (PBDC) in Q2, acquiring 76,102 shares for approximately $472,000, representing about 0.71% of the fund.
Institutional investors own a substantial portion of Raymond James Financial (RJF) stock (83.83%), providing context for Bridgewater's new RJF stake alongside broad institutional participation.
Bridgewater Advisors Inc. made a series of new bets in the second quarter, opening fresh positions in Corning Incorporated (GLW), Raymond James Financial (RJF), and Allstate (ALL). The moves signal the firm's continued push to deploy capital across multiple sectors, according to Defense World.
The firm bought 6,604 shares of Corning for about $963,000, picked up 4,652 shares of Raymond James for roughly $824,000, and added 1,924 shares of Allstate for around $501,000. Bridgewater also expanded its stake in the Putnam BDC Income ETF (PBDC), acquiring 76,102 shares worth approximately $472,000.
Corning CEO Sells $18.6 Million in Stock as Bridgewater Buys
Bridgewater's new Corning position comes with a notable contrast. CEO Wendell P. Weeks sold 100,000 shares on June 9 at an average price of $186.46 per share. That sale totaled $18,646,000 and cut his stake by 9.92%, according to Defense World.
After the sale, Weeks still holds 908,353 shares valued at about $169.4 million. Insider sales at this scale can signal a top executive locking in gains. But Bridgewater's simultaneous buy shows some institutional money is still moving in the opposite direction.
Allstate Insiders Dump Over $23 Million in Shares
While Bridgewater opened a $501,000 stake in Allstate, company insiders were selling in large volumes. John E. Dugenske sold 32,996 shares on August 7 at $269.33 each, bringing in $8,886,812.68. That sale cut his ownership by 71.65%, leaving him with just 13,054 shares worth about $3.5 million, per Defense World.
Days later, Allstate COO Mario Rizzo sold 56,225 shares on August 11 at $264.48 per share, totaling $14,870,388. He kept 82,227 shares worth roughly $21.7 million after the transaction. Together, the two insiders shed more than $23 million in Allstate stock within one week.
Raymond James Draws Both Bridgewater and Broad Institutional Interest
Bridgewater's new Raymond James stake is small — 4,652 shares at roughly $824,000 — but it lands in a stock already heavily owned by institutions. Institutional investors hold 83.83% of RJF shares, showing wide confidence among professional money managers, according to Defense World.
That level of institutional ownership means Bridgewater joins a crowded field of large investors. It also suggests the stock is widely viewed as a stable, proven holding. Raymond James operates as a financial services firm offering investment and wealth management services.
Bridgewater Grows PBDC Stake in Push for Income Exposure
Beyond individual stocks, Bridgewater added 76,102 shares of the Putnam BDC Income ETF, valued at around $472,000. The position gives the firm roughly 0.71% of the fund. BDC stands for Business Development Company — these funds lend to small and mid-sized businesses and typically pay high dividends, per Defense World.
The PBDC addition fits a broader pattern. Bridgewater also bought 8,091 shares of Chevron for $1,543,000 and 13,367 shares of Unity Software for about $413,000 in the same quarter, according to Ticker Report. The firm is spreading risk across energy, tech, finance, and income-focused assets.
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