Funds › Bridgewater Associates, LP › Q4 2018Bridgewater Associates, LP 13F holdings, Q4 2018 Bridgewater Associates, LP disclosed 472 US equity positions worth $10.9bn in its Q4 2018 13F filing. Its largest position is VWO at 17.7% of the reported book, followed by SPY and IEMG. Versus Q3 2018 it opened 176 new positions, added to 209, reduced 78 and exited 58.
$10.9bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
472 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
17.7% Largest position The largest single position as a share of the reported equity book.
61.9% Top 10 weight The ten largest positions together, as a share of the reported equity book.
14 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
83 Quarters on file since Q4 2005 Quarters for which this manager's 13F holdings are on record. Holdings Against Q3 2018: 176 new , 209 added , 78 reduced , 58 exited
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Stock Sector Weight Value Shares Δ shares Action VWO VANGUARD INTL EQUITY INDEX F – 17.7% $1.9bn 50.81m +0.1% held SPY SPDR S&P 500 ETF Trust – 17.2% $1.9bn 7.51m −4.4% reduced IEMG ISHARES INC – 6.2% $679m 14.40m +27% added IVV ISHARES TR – 5.1% $555m 2.21m +174% added GLD SPDR GOLD TRUST – 4.3% $474m 3.91m 0.0% held EEM ISHARES TR – 3.1% $338m 8.66m +9.1% added LQD ISHARES TR – 2.6% $283m 2.51m +0.3% held TLT ISHARES TR – 2.2% $237m 1.95m −1.0% reduced EWY ISHARES INC – 1.8% $195m 3.31m +581% added HYG ISHARES TR – 1.8% $194m 2.39m −5.2% reduced EMB ISHARES TR – 1.7% $183m 1.76m −0.1% held EFA ISHARES TR – 1.3% $144m 2.45m 0.0% held VEA VANGUARD TAX-MANAGED FDS – 1.3% $143m 3.87m 0.0% held IAU ISHARES GOLD TRUST – 1.3% $139m 11.32m 0.0% held IEFA ISHARES TR – 1.2% $131m 2.39m 0.0% held TIP ISHARES TR – 1.0% $115m 1.05m −6.5% reduced BFH BREAD FINANCIAL HOLDINGS INC Financial Services 0.7% $74.8m 498,586 +403% added XECEUR CIMAREX ENERGY CO – 0.6% $68.2m 1.11m +1414% added USX1 UNITED STATES STL CORP NEW – 0.6% $66.9m 3.67m +236% added IP INTERNATIONAL PAPER CO Consumer Cyclical 0.5% $59.7m 1.48m +778% added LYONDELLBASELL INDUSTRIES NV no ticker – 0.5% $58.6m 705,062 +255% added URI UNITED RENTALS INC Industrials 0.5% $57.1m 556,753 +538% added CELG CELGENE CORP – 0.5% $56.3m 878,145 +106% added T AT&T INC Communication Services 0.5% $55.2m 1.93m +106% added PVH PVH CORPORATION Consumer Cyclical 0.4% $48.2m 518,131 +338% added EMN EASTMAN CHEMICAL CO Basic Materials 0.4% $45.7m 624,555 – new HFCUSD HOLLYFRONTIER CORP – 0.4% $44.7m 874,180 +777% added SWN1EUR SOUTHWESTERN ENERGY CO – 0.4% $44.2m 12.96m +849% added BBBYEUR BED BATH & BEYOND INC – 0.4% $42.6m 3.76m +208% added RY ROYAL BK CDA Financial Services 0.4% $40.0m 584,435 −16% reduced DISH DISH NETWORK CORPORATION – 0.4% $39.5m 1.58m +207% added CVS CVS HEALTH CORP Healthcare 0.4% $39.1m 597,410 +548% added EWZ ISHARES INC – 0.4% $38.7m 1.01m −77% reduced TD TORONTO DOMINION BK ONT Financial Services 0.3% $37.1m 746,631 −16% reduced GE GENERAL ELECTRIC CO Industrials 0.3% $36.4m 4.81m +139% added NTAP NETAPP INC Technology 0.3% $35.7m 598,957 +8197% added GS GOLDMAN SACHS GROUP INC Financial Services 0.3% $35.6m 213,259 +1859% added AMP AMERIPRISE FINL INC Financial Services 0.3% $35.1m 335,850 – new CAH CARDINAL HEALTH INC Healthcare 0.3% $34.9m 782,043 +338% added CL COLGATE PALMOLIVE CO Consumer Defensive 0.3% $34.5m 579,911 +538% added LNC LINCOLN NATL CORP IND Financial Services 0.3% $34.5m 672,203 +3110% added MU MICRON TECHNOLOGY INC Technology 0.3% $33.7m 1.06m +134% added IVZ INVESCO LTD Financial Services 0.3% $32.8m 1.96m +91% added COF CAPITAL ONE FINL CORP Financial Services 0.3% $32.7m 432,413 +1067% added URBN URBAN OUTFITTERS INC Consumer Cyclical 0.3% $30.5m 918,127 +116% added PSX PHILLIPS 66 Energy 0.3% $29.0m 337,063 +522% added BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $28.9m 555,523 +116% added PHM PULTE GROUP INC Consumer Cyclical 0.3% $28.8m 1.11m +5.2% added SWKS SKYWORKS SOLUTIONS INC Technology 0.3% $28.6m 426,662 +329% added ALXN ALEXION PHARMACEUTICALS INC – 0.2% $27.1m 277,885 – new
Exited since Q3 2018 Sector mix Unclassified 77.0% Financial Services 5.2% Consumer Cyclical 3.7% Industrials 2.5% Technology 2.4% Healthcare 1.9% Energy 1.8% Consumer Defensive 1.6% Basic Materials 1.4% Communication Services 1.1% Utilities 0.7% Real Estate 0.6% Book over time Every quarter on file (83) Where Bridgewater Associates, LP was early Concentration and tenure
26.1% Median largest position, all quarters The largest single position as a share of the reported equity book.
61.9% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
3 Median completed holding, quarters