Bridgewater Buys HP, Ralph Lauren; Sells Tesoro, CTS

By Mani
Updated on

Bridgewater Associates revealed in its recent 13F filing that it added a sizeable 120 new stocks to its portfolio, bought more shares of 87 stocks, exited 132 stocks and reduced holdings in 102 stocks.

The top ten holdings of Bridgewater represent a substantial 90.62% of its portfolio. The large advisory firm’s portfolio has a market value of $11.87 billion.

Bridgewater Associates’ major new positions

Hewlett-Packard Company (NYSE:HPQ) was the biggest new addition to its portfolio during the last quarter. Bridgewater purchased 832,400 shares of the company for $17.47 million. Hewlett-Packard now represents 0.15% of Bridgewater’s portfolio.

Another big new addition was Ralph Lauren Corp (NYSE:RL) of which Bridgewater purchased 82,536 shares for $13.59 million, representing 0.11% of Bridgewater’s total portfolio.

The firm also acquired 511,776 shares of General Electric Company (NYSE:GE) for $12.22 million, representing 0.10% of its overall portfolio. Bridgewater also purchased 376,930 shares of Sysco Corp for $11.99 million, which again represented 0.10% of its overall portfolio. The fifth-largest new addition to firm’s portfolio was The Walt Disney Company (NYSE:DIS) Bridgewater purchased 169,413 shares of the diversified worldwide entertainment company for $10.92 million representing 0.09% of its overall portfolio.

Top positions

The Vanguard Emerging Markets Stock ETF is the biggest holding of Bridgewater Associates as of September 30, 2013. Bridgewater held 101,601,162 shares of Vanguard ETF for $4.07 billion representing a substantial 34.35% of its overall portfolio.

The second-largest holding was SPDR S&P 500 ETF Trust (NYSEARCA:SPY) of which Bridgewater owns 20,689,200 shares currently valued at $3.47 billion. Firm’s holding in the exchange traded fund represented a sizable 29.28% of its overall portfolio. Bridgewater also held 73,912,030 shares of iShares MSCI Emerging Markets Indx (ETF) (NYSEARCA:EEM) for $3.01 billion constituting 25.37% of its overall portfolio.

Sold out positions

Bridgewater Associates sold out its entire stake in Tesoro Corporation (NYSE:TSO) where it owned 384,022 shares of the company at the beginning of the previous quarter. It represented 0.18% of Bridgewater’s total portfolio. Bridgewater also closed its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by selling all 285,218 shares of the technology company. Another major position closed during the quarter was Franklin Resources, Inc. (NYSE:BEN) by selling 403,914 shares that represented 0.16% of Bridgewater’s portfolio in the previous quarter. Bridgewater Associates also sold out its entire holding of 160,530 shares in Monsanto Company (NYSE:MON) that constituted 0.14% of its portfolio in the earlier quarter.

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