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← Bridgewater Associates LP, its record

Bridgewater Associates LP and Neuberger Berman Group LLC: where the books meet

At Q2 2026, at least 28% of the two 13F books was the same, across 180 stocks both listed, against 4.5% 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%15%31%Q2 2013: 4.5%, 135 in bothQ3 2013: 4.8%, 123 in bothQ4 2013: 5.0%, 106 in bothQ1 2014: 5.6%, 141 in both14Q2 2014: 5.5%, 121 in bothQ3 2014: 4.6%, 138 in bothQ4 2014: 4.6%, 123 in bothQ1 2015: 5.2%, 118 in both15Q2 2015: 5.6%, 118 in bothQ3 2015: 8.0%, 150 in bothQ4 2015: 7.3%, 108 in bothQ1 2016: 8.0%, 112 in both16Q2 2016: 8.5%, 146 in bothQ3 2016: 7.3%, 117 in bothQ4 2016: 7.2%, 114 in bothQ1 2017: 5.2%, 98 in both17Q2 2017: 3.6%, 115 in bothQ3 2017: 3.6%, 103 in bothQ4 2017: 3.4%, 87 in bothQ1 2018: 5.6%, 146 in both18Q2 2018: 6.5%, 147 in bothQ3 2018: 5.4%, 127 in bothQ4 2018: 7.1%, 136 in bothQ1 2019: 4.6%, 98 in both19Q2 2019: 5.8%, 95 in bothQ3 2019: 6.4%, 118 in bothQ4 2019: 6.8%, 134 in bothQ1 2020: 7.2%, 151 in both20Q2 2020: 4.7%, 134 in bothQ3 2020: 11%, 146 in bothQ4 2020: 13%, 177 in bothQ1 2021: 12%, 142 in both21Q2 2021: 16%, 176 in bothQ3 2021: 13%, 148 in bothQ4 2021: 15%, 155 in bothQ1 2022: 22%, 207 in both22Q2 2022: 26%, 209 in bothQ3 2022: 23%, 199 in bothQ4 2022: 25%, 197 in bothQ1 2023: 23%, 175 in both23Q2 2023: 24%, 176 in bothQ3 2023: 23%, 156 in bothQ4 2023: 24%, 172 in bothQ1 2024: 29%, 183 in both24Q2 2024: 31%, 172 in bothQ3 2024: 29%, 172 in bothQ4 2024: 23%, 167 in bothQ1 2025: 23%, 175 in both25Q2 2025: 26%, 166 in bothQ3 2025: 27%, 181 in bothQ4 2025: 26%, 178 in bothQ1 2026: 29%, 169 in both26Q2 2026: 28%, 180 in both
  • Q2 2013: 4.5%, 135 in both
  • Q3 2013: 4.8%, 123 in both
  • Q4 2013: 5.0%, 106 in both
  • Q1 2014: 5.6%, 141 in both
  • Q2 2014: 5.5%, 121 in both
  • Q3 2014: 4.6%, 138 in both
  • Q4 2014: 4.6%, 123 in both
  • Q1 2015: 5.2%, 118 in both
  • Q2 2015: 5.6%, 118 in both
  • Q3 2015: 8.0%, 150 in both
  • Q4 2015: 7.3%, 108 in both
  • Q1 2016: 8.0%, 112 in both
  • Q2 2016: 8.5%, 146 in both
  • Q3 2016: 7.3%, 117 in both
  • Q4 2016: 7.2%, 114 in both
  • Q1 2017: 5.2%, 98 in both
  • Q2 2017: 3.6%, 115 in both
  • Q3 2017: 3.6%, 103 in both
  • Q4 2017: 3.4%, 87 in both
  • Q1 2018: 5.6%, 146 in both
  • Q2 2018: 6.5%, 147 in both
  • Q3 2018: 5.4%, 127 in both
  • Q4 2018: 7.1%, 136 in both
  • Q1 2019: 4.6%, 98 in both
  • Q2 2019: 5.8%, 95 in both
  • Q3 2019: 6.4%, 118 in both
  • Q4 2019: 6.8%, 134 in both
  • Q1 2020: 7.2%, 151 in both
  • Q2 2020: 4.7%, 134 in both
  • Q3 2020: 11%, 146 in both
  • Q4 2020: 13%, 177 in both
  • Q1 2021: 12%, 142 in both
  • Q2 2021: 16%, 176 in both
  • Q3 2021: 13%, 148 in both
  • Q4 2021: 15%, 155 in both
  • Q1 2022: 22%, 207 in both
  • Q2 2022: 26%, 209 in both
  • Q3 2022: 23%, 199 in both
  • Q4 2022: 25%, 197 in both
  • Q1 2023: 23%, 175 in both
  • Q2 2023: 24%, 176 in both
  • Q3 2023: 23%, 156 in both
  • Q4 2023: 24%, 172 in both
  • Q1 2024: 29%, 183 in both
  • Q2 2024: 31%, 172 in both
  • Q3 2024: 29%, 172 in both
  • Q4 2024: 23%, 167 in both
  • Q1 2025: 23%, 175 in both
  • Q2 2025: 26%, 166 in both
  • Q3 2025: 27%, 181 in both
  • Q4 2025: 26%, 178 in both
  • Q1 2026: 29%, 169 in both
  • Q2 2026: 28%, 180 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 LPNeuberger Berman Group LLC
Nvidia Corp(NVDA)3.2%Trimmed4.1%Added
Amazon Com Inc(AMZN)2.0%Trimmed3.1%Added
Alphabet Inc(GOOGL)1.9%Trimmed2.4%Added
iShares Trust(IVV)9.2%Added1.3%Added
Microsoft Corp(MSFT)1.1%Trimmed2.6%Trimmed
Broadcom Inc(AVGO)2.0%Trimmed1.0%Trimmed
Johnson & Johnson(JNJ)0.7%Trimmed0.7%Added
Advanced Micro Devices Inc(AMD)1.3%Trimmed0.6%Trimmed
Applied Matls Inc(AMAT)0.9%Trimmed0.6%Added
Micron Technology Inc(MU)0.6%Trimmed0.7%Trimmed
Amphenol Corp New(APH)0.5%Trimmed0.7%Added
Asml Holding N V(ASML)0.5%Trimmed1.0%Added
Lam Research Corp(LRCX)1.7%Trimmed0.5%Added
Apple Inc(AAPL)0.4%Trimmed3.3%Added
Lilly Eli & Co(LLY)0.4%Added1.4%Trimmed
CSX Corp(CSX)0.4%Trimmed0.4%Added
Oracle Corp(ORCL)0.9%Trimmed0.4%Trimmed
Vanguard Index Funds(VOO)1.3%Added0.4%Added
Union Pac Corp(UNP)0.6%Trimmed0.4%Added
Ge Vernova Inc(GEV)0.6%Trimmed0.4%Added

and 160 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; Neuberger Berman Group LLC added
  • Apple Inc(AAPL)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Amazon Com Inc(AMZN)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Alphabet Inc(GOOGL)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Alphabet Inc(GOOG)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Lilly Eli & Co(LLY)Bridgewater Associates LP added; Neuberger Berman Group LLC trimmed
  • Asml Holding N V(ASML)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Facebook Inc(META)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Amphenol Corp New(APH)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Johnson & Johnson(JNJ)Bridgewater Associates LP trimmed; Neuberger Berman Group LLC added
  • Visa Inc(V)Bridgewater Associates LP added; Neuberger Berman Group LLC trimmed
  • Intel Corp(INTC)Bridgewater Associates LP started; Neuberger Berman Group LLC trimmed
Bridgewater Associates LP: the recordNeuberger Berman Group LLC: the record

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