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Big money shifted its holdings last quarter, tilting away from technology and toward energy.
Holdings, meaning the shares a fund owns at the end of a reporting period, grew for Shell and PG&E at Bridgewater Associates during the second quarter, while the firm cut its stake in Amazon (AMZN).
Shell is an oil and gas company. PG&E is a regulated electric and gas utility serving much of California. Amazon spans e-commerce, cloud computing, and digital advertising.
The second-quarter moves put weight on commodity-dependent businesses and pulled it from one driven by consumer and technology spending.
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