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← Bridgewater Associates LP, its record

Bridgewater Associates LP and Invesco Ltd: where the books meet

At Q2 2026, at least 32% of the two 13F books was the same, across 233 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%18%36%Q2 2013: 6.6%, 177 in bothQ3 2013: 6.6%, 169 in bothQ4 2013: 7.1%, 155 in bothQ1 2014: 8.1%, 190 in both14Q2 2014: 8.1%, 170 in bothQ3 2014: 6.8%, 187 in bothQ4 2014: 7.2%, 178 in bothQ1 2015: 8.0%, 170 in both15Q2 2015: 8.2%, 166 in bothQ3 2015: 13%, 177 in bothQ4 2015: 10%, 139 in bothQ1 2016: 11%, 154 in both16Q2 2016: 10%, 162 in bothQ3 2016: 9.3%, 153 in bothQ4 2016: 9.2%, 145 in bothQ1 2017: 6.3%, 119 in both17Q2 2017: 5.1%, 132 in bothQ3 2017: 5.3%, 142 in bothQ4 2017: 5.3%, 120 in bothQ1 2018: 8.7%, 196 in both18Q2 2018: 11%, 216 in bothQ3 2018: 8.6%, 188 in bothQ4 2018: 11%, 217 in bothQ1 2019: 6.2%, 146 in both19Q2 2019: 7.7%, 129 in bothQ3 2019: 8.1%, 137 in bothQ4 2019: 9.1%, 157 in bothQ1 2020: 9.1%, 209 in both20Q2 2020: 8.3%, 173 in bothQ3 2020: 17%, 173 in bothQ4 2020: 19%, 234 in bothQ1 2021: 19%, 189 in both21Q2 2021: 21%, 217 in bothQ3 2021: 18%, 196 in bothQ4 2021: 18%, 214 in bothQ1 2022: 26%, 275 in both22Q2 2022: 30%, 262 in bothQ3 2022: 27%, 245 in bothQ4 2022: 29%, 251 in bothQ1 2023: 26%, 216 in both23Q2 2023: 27%, 227 in bothQ3 2023: 27%, 215 in bothQ4 2023: 26%, 211 in bothQ1 2024: 32%, 218 in both24Q2 2024: 34%, 223 in bothQ3 2024: 36%, 221 in bothQ4 2024: 28%, 211 in bothQ1 2025: 27%, 223 in both25Q2 2025: 31%, 210 in bothQ3 2025: 31%, 228 in bothQ4 2025: 30%, 228 in bothQ1 2026: 35%, 222 in both26Q2 2026: 32%, 233 in both
  • Q2 2013: 6.6%, 177 in both
  • Q3 2013: 6.6%, 169 in both
  • Q4 2013: 7.1%, 155 in both
  • Q1 2014: 8.1%, 190 in both
  • Q2 2014: 8.1%, 170 in both
  • Q3 2014: 6.8%, 187 in both
  • Q4 2014: 7.2%, 178 in both
  • Q1 2015: 8.0%, 170 in both
  • Q2 2015: 8.2%, 166 in both
  • Q3 2015: 13%, 177 in both
  • Q4 2015: 10%, 139 in both
  • Q1 2016: 11%, 154 in both
  • Q2 2016: 10%, 162 in both
  • Q3 2016: 9.3%, 153 in both
  • Q4 2016: 9.2%, 145 in both
  • Q1 2017: 6.3%, 119 in both
  • Q2 2017: 5.1%, 132 in both
  • Q3 2017: 5.3%, 142 in both
  • Q4 2017: 5.3%, 120 in both
  • Q1 2018: 8.7%, 196 in both
  • Q2 2018: 11%, 216 in both
  • Q3 2018: 8.6%, 188 in both
  • Q4 2018: 11%, 217 in both
  • Q1 2019: 6.2%, 146 in both
  • Q2 2019: 7.7%, 129 in both
  • Q3 2019: 8.1%, 137 in both
  • Q4 2019: 9.1%, 157 in both
  • Q1 2020: 9.1%, 209 in both
  • Q2 2020: 8.3%, 173 in both
  • Q3 2020: 17%, 173 in both
  • Q4 2020: 19%, 234 in both
  • Q1 2021: 19%, 189 in both
  • Q2 2021: 21%, 217 in both
  • Q3 2021: 18%, 196 in both
  • Q4 2021: 18%, 214 in both
  • Q1 2022: 26%, 275 in both
  • Q2 2022: 30%, 262 in both
  • Q3 2022: 27%, 245 in both
  • Q4 2022: 29%, 251 in both
  • Q1 2023: 26%, 216 in both
  • Q2 2023: 27%, 227 in both
  • Q3 2023: 27%, 215 in both
  • Q4 2023: 26%, 211 in both
  • Q1 2024: 32%, 218 in both
  • Q2 2024: 34%, 223 in both
  • Q3 2024: 36%, 221 in both
  • Q4 2024: 28%, 211 in both
  • Q1 2025: 27%, 223 in both
  • Q2 2025: 31%, 210 in both
  • Q3 2025: 31%, 228 in both
  • Q4 2025: 30%, 228 in both
  • Q1 2026: 35%, 222 in both
  • Q2 2026: 32%, 233 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 LPInvesco Ltd
Nvidia Corp(NVDA)3.2%Trimmed5.2%Added
Broadcom Inc(AVGO)2.0%Trimmed2.1%Trimmed
Amazon Com Inc(AMZN)2.0%Trimmed2.7%Added
Alphabet Inc(GOOGL)1.9%Trimmed2.6%Added
Lam Research Corp(LRCX)1.7%Trimmed1.8%Added
Advanced Micro Devices Inc(AMD)1.3%Trimmed2.4%Added
Microsoft Corp(MSFT)1.1%Trimmed3.0%Added
Applied Matls Inc(AMAT)0.9%Trimmed1.6%Added
Seagate Technology Hldngs PL(STX)0.8%Trimmed0.6%Added
Micron Technology Inc(MU)0.6%Trimmed3.3%Added
Asml Holding N V(ASML)0.5%Trimmed0.5%Added
Western Digital Corp(WDC)0.5%Trimmed0.7%Added
Apple Inc(AAPL)0.4%Trimmed4.3%Added
Kla-tencor Corp(KLAC)0.4%Added1.1%Added
Lilly Eli & Co(LLY)0.4%Added0.4%Added
Analog Devices Inc(ADI)0.3%Added0.5%Added
Johnson & Johnson(JNJ)0.7%Trimmed0.3%Added
Applovin Corp(APP)0.3%New0.4%Added
Facebook Inc(META)0.3%Trimmed1.7%Added
NXP Semiconductors N V(NXPI)0.4%Added0.2%Trimmed

and 213 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; Invesco Ltd added
  • Apple Inc(AAPL)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Micron Technology Inc(MU)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Microsoft Corp(MSFT)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Amazon Com Inc(AMZN)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Alphabet Inc(GOOGL)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Advanced Micro Devices Inc(AMD)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Alphabet Inc(GOOG)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Lam Research Corp(LRCX)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Facebook Inc(META)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Applied Matls Inc(AMAT)Bridgewater Associates LP trimmed; Invesco Ltd added
  • Costco WHSL Corp New(COST)Bridgewater Associates LP trimmed; Invesco Ltd added
Bridgewater Associates LP: the recordInvesco Ltd: the record

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