Dalio's Bridgewater Maintains Gold ETF Positions During 2Q
(Kitco News) - Well-known fund manager RayDalio's Bridgewater Associates maintained holdings in gold exchange-tradedfunds during the second quarter even as the price of the metal fell, filings show.
Institutional investment managersmust file a Form 13F-HR, showing their major holdings, with the Securities andExchange Commission within 45 days of the end of each quarter. The most recentround of filings show the position of hedge funds as of the end of the secondquarter on June 30 but do not reflect any possible changes that may haveoccurred since.
As of June 30, BridgewaterAssociates held 3.91 million shares of SPDR Shares Gold, the world's largestgold ETF. This was the same as at the end of the first quarter.
However, the filing shows thatthe value of those shares fell to $463.8 million from $491.7 million as goldprices declined. Comex December gold futures lost 5.9% during the quarter tofinish June at $1,266.30 an ounce.
Bridgewater's holdings of iSharesGold Trust remained at 11.32 million shares, although the value fell to $136million from $144.1 million.
Gold ETFs trade like a stock buttrack the price of the commodity, with metal put into storage to back theshares.
Bridgewater was also exposed tothe mining sector through stakes in Agnico Eagle Mines Ltd., AngloGold AshantiLtd., B2Gold Corp., Barrick Gold Corp., BHP Billiton Ltd, Eldorado Gold Corp.,Franco Nevada Corp., Gold Fields Ltd., Goldcorp Inc., Kinross Gold Corp., KirklandLake Gold Ltd., New Gold Inc., Newmont Mining Corp., Pretium Resources Inc.,Randgold Resources Ltd., Rio Tinto PLC, Royal Gold Inc., Sibanye Stillwater,Tahoe Resources Inc., Teck Resources Ltd., Turquoise Hill Resources Ltd., ValeS.A., Wheaton Precious Metals Corp. and Yamana Gold Inc.
By Allen SykoraFor Kitco News
Follow @AllenSykora
asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.