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← Bridgewater Associates LP, its record

Bridgewater Associates LP and Fidelity (FMR LLC): where the books meet

At Q2 2026, at least 29% of the two 13F books was the same, across 214 stocks both listed, against 6.6% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%17%34%Q2 2013: 6.6%, 172 in bothQ3 2013: 6.7%, 166 in bothQ4 2013: 6.9%, 148 in bothQ1 2014: 7.7%, 189 in both14Q2 2014: 7.4%, 159 in bothQ3 2014: 6.9%, 193 in bothQ4 2014: 6.8%, 174 in bothQ1 2015: 7.4%, 155 in both15Q2 2015: 7.2%, 140 in bothQ3 2015: 12%, 169 in bothQ4 2015: 9.9%, 126 in bothQ1 2016: 9.8%, 145 in both16Q2 2016: 10%, 180 in bothQ3 2016: 9.0%, 155 in bothQ4 2016: 9.6%, 143 in bothQ1 2017: 6.4%, 118 in both17Q2 2017: 5.9%, 147 in bothQ3 2017: 5.4%, 144 in bothQ4 2017: 5.7%, 133 in bothQ1 2018: 7.5%, 173 in both18Q2 2018: 8.1%, 177 in bothQ3 2018: 7.1%, 153 in bothQ4 2018: 8.9%, 161 in bothQ1 2019: 5.8%, 132 in both19Q2 2019: 6.6%, 121 in bothQ3 2019: 7.5%, 135 in bothQ4 2019: 8.5%, 139 in bothQ1 2020: 8.2%, 158 in both20Q2 2020: 5.5%, 136 in bothQ3 2020: 12%, 149 in bothQ4 2020: 14%, 193 in bothQ1 2021: 15%, 163 in both21Q2 2021: 17%, 174 in bothQ3 2021: 15%, 168 in bothQ4 2021: 14%, 186 in bothQ1 2022: 19%, 224 in both22Q2 2022: 24%, 237 in bothQ3 2022: 23%, 217 in bothQ4 2022: 23%, 216 in bothQ1 2023: 23%, 204 in both23Q2 2023: 21%, 208 in bothQ3 2023: 21%, 200 in bothQ4 2023: 23%, 200 in bothQ1 2024: 32%, 202 in both24Q2 2024: 34%, 207 in bothQ3 2024: 33%, 193 in bothQ4 2024: 26%, 188 in bothQ1 2025: 26%, 203 in both25Q2 2025: 31%, 206 in bothQ3 2025: 29%, 218 in bothQ4 2025: 28%, 214 in bothQ1 2026: 34%, 211 in both26Q2 2026: 29%, 214 in both
  • Q2 2013: 6.6%, 172 in both
  • Q3 2013: 6.7%, 166 in both
  • Q4 2013: 6.9%, 148 in both
  • Q1 2014: 7.7%, 189 in both
  • Q2 2014: 7.4%, 159 in both
  • Q3 2014: 6.9%, 193 in both
  • Q4 2014: 6.8%, 174 in both
  • Q1 2015: 7.4%, 155 in both
  • Q2 2015: 7.2%, 140 in both
  • Q3 2015: 12%, 169 in both
  • Q4 2015: 9.9%, 126 in both
  • Q1 2016: 9.8%, 145 in both
  • Q2 2016: 10%, 180 in both
  • Q3 2016: 9.0%, 155 in both
  • Q4 2016: 9.6%, 143 in both
  • Q1 2017: 6.4%, 118 in both
  • Q2 2017: 5.9%, 147 in both
  • Q3 2017: 5.4%, 144 in both
  • Q4 2017: 5.7%, 133 in both
  • Q1 2018: 7.5%, 173 in both
  • Q2 2018: 8.1%, 177 in both
  • Q3 2018: 7.1%, 153 in both
  • Q4 2018: 8.9%, 161 in both
  • Q1 2019: 5.8%, 132 in both
  • Q2 2019: 6.6%, 121 in both
  • Q3 2019: 7.5%, 135 in both
  • Q4 2019: 8.5%, 139 in both
  • Q1 2020: 8.2%, 158 in both
  • Q2 2020: 5.5%, 136 in both
  • Q3 2020: 12%, 149 in both
  • Q4 2020: 14%, 193 in both
  • Q1 2021: 15%, 163 in both
  • Q2 2021: 17%, 174 in both
  • Q3 2021: 15%, 168 in both
  • Q4 2021: 14%, 186 in both
  • Q1 2022: 19%, 224 in both
  • Q2 2022: 24%, 237 in both
  • Q3 2022: 23%, 217 in both
  • Q4 2022: 23%, 216 in both
  • Q1 2023: 23%, 204 in both
  • Q2 2023: 21%, 208 in both
  • Q3 2023: 21%, 200 in both
  • Q4 2023: 23%, 200 in both
  • Q1 2024: 32%, 202 in both
  • Q2 2024: 34%, 207 in both
  • Q3 2024: 33%, 193 in both
  • Q4 2024: 26%, 188 in both
  • Q1 2025: 26%, 203 in both
  • Q2 2025: 31%, 206 in both
  • Q3 2025: 29%, 218 in both
  • Q4 2025: 28%, 214 in both
  • Q1 2026: 34%, 211 in both
  • Q2 2026: 29%, 214 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockBridgewater Associates LPFidelity (FMR LLC)
Nvidia Corp(NVDA)3.2%Trimmed8.9%Added
Broadcom Inc(AVGO)2.0%Trimmed2.4%Added
Amazon Com Inc(AMZN)2.0%Trimmed3.8%Added
Alphabet Inc(GOOGL)1.9%Trimmed3.9%Added
Microsoft Corp(MSFT)1.1%Trimmed3.0%Trimmed
Advanced Micro Devices Inc(AMD)1.3%Trimmed0.6%Added
Lam Research Corp(LRCX)1.7%Trimmed0.6%Added
Ge Vernova Inc(GEV)0.6%Trimmed0.8%Trimmed
Micron Technology Inc(MU)0.6%Trimmed1.3%Trimmed
Amphenol Corp New(APH)0.5%Trimmed0.5%Trimmed
Asml Holding N V(ASML)0.5%Trimmed0.5%Added
Western Digital Corp(WDC)0.5%Trimmed0.7%Trimmed
Apple Inc(AAPL)0.4%Trimmed4.1%Added
Lilly Eli & Co(LLY)0.4%Added1.5%Added
Kla-tencor Corp(KLAC)0.4%Added0.6%Added
Wells Fargo & Co New(WFC)0.4%Added0.5%Trimmed
Seagate Technology Hldngs PL(STX)0.8%Trimmed0.3%Trimmed
Applovin Corp(APP)0.3%New0.4%Added
NXP Semiconductors N V(NXPI)0.4%Added0.3%Added
Shell PLC(SHEL)0.5%Added0.3%Trimmed

and 194 smaller ones

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • Nvidia Corp(NVDA)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Apple Inc(AAPL)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Alphabet Inc(GOOGL)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Amazon Com Inc(AMZN)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Broadcom Inc(AVGO)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Alphabet Inc(GOOG)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Exxon Mobil Corp(XOM)Bridgewater Associates LP started; Fidelity (FMR LLC) trimmed
  • Advanced Micro Devices Inc(AMD)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Visa Inc(V)Bridgewater Associates LP added; Fidelity (FMR LLC) trimmed
  • Lam Research Corp(LRCX)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
  • Wells Fargo & Co New(WFC)Bridgewater Associates LP added; Fidelity (FMR LLC) trimmed
  • Asml Holding N V(ASML)Bridgewater Associates LP trimmed; Fidelity (FMR LLC) added
Bridgewater Associates LP: the recordFidelity (FMR LLC): the record

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