UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 3/31/2013
Check here if Amendment []; Amendment Number:
-------
This Amendment (Check only one.): [] is a restatement.
[] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Bridgewater Associates, LP
Address: One Glendinning Place
Westport, CT 06880
Form 13F File Number: 28-11794
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this submission.
Persons Signing this Report on Behalf of Reporting Manager:
Name: Helene Glotzer
Title: Chief Compliance Officer
Phone: 203-226-3030
Signature, Place, and Date of Signing:
/s/ Helene Glotzer Westport, CT 5/10/2013
--------------------------------- --------------------------------- ----------
[Signature] [City, State] [Date]
Report Type (Check only one):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 266
Form 13F Information Table Value Total: $ 10,989,989
--------------
(In Thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
----------------------------------- -------------- --------- --------- ----------------- ---------- -------- -----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
----------------------------------- -------------- --------- --------- -------- --- ---- ---------- -------- -------- ------ -------
3M CO COM 88579Y101 3,913 36803 SH SOLE N/A 36803 0 0
Advance Auto Parts Inc COM 00751Y106 1,937 23432 SH SOLE N/A 23432 0 0
Agnico Eagle Mines Ltd COM 008474108 911 22200 SH SOLE N/A 22200 0 0
AGRIUM INC COM 008916108 1,348 13821 SH SOLE N/A 13821 0 0
Akamai Technologies Inc COM 00971T101 792 22431 SH SOLE N/A 22431 0 0
Allegheny Technologies Inc COM 01741R102 242 7616 SH SOLE N/A 7616 0 0
ALLERGAN INC COM 018490102 973 8719 SH SOLE N/A 8719 0 0
ALLIED NEVADA GOLD CORP COM 019344100 189 11500 SH SOLE N/A 11500 0 0
American Capital Ltd COM 02503Y103 1,906 130604 SH SOLE N/A 130604 0 0
AMERISOURCEBERGEN CORP COM 03073E105 3,409 66255 SH SOLE N/A 66255 0 0
AMGEN INC COM 031162100 7,134 69597 SH SOLE N/A 69597 0 0
ANADARKO PETROLEUM CORP COM 032511107 3,673 41999 SH SOLE N/A 41999 0 0
Analog Devices Inc COM 032654105 2,357 50691 SH SOLE N/A 50691 0 0
ANGLOGOLD ASHANTI-SPON ADR SPONSORED ADR 035128206 1,170 49700 SH SOLE N/A 49700 0 0
APACHE CORP COM 037411105 957 12400 SH SOLE N/A 12400 0 0
Apple Inc COM 037833100 5,299 11971 SH SOLE N/A 11971 0 0
APPLIED MATERIALS INC COM 038222105 6,791 503799 SH SOLE N/A 503799 0 0
AT&T Inc COM 00206R102 2,458 67000 SH SOLE N/A 67000 0 0
AUTODESK INC COM 052769106 6,879 166768 SH SOLE N/A 166768 0 0
AUTOZONE INC COM 053332102 8,286 20884 SH SOLE N/A 20884 0 0
B/E Aerospace Inc COM 073302101 1,964 32582 SH SOLE N/A 32582 0 0
BANK OF AMERICA CORP COM 060505104 2,469 202691 SH SOLE N/A 202691 0 0
Bank of New York Mellon Corp/T COM 064058100 4,256 152038 SH SOLE N/A 152038 0 0
BARRICK GOLD CORP COM 067901108 1,935 65800 SH SOLE N/A 65800 0 0
BB&T Corp COM 054937107 1,965 62600 SH SOLE N/A 62600 0 0
BED BATH & BEYOND INC COM 075896100 3,777 58628 SH SOLE N/A 58628 0 0
BHP BILLITON LTD-SPON ADR SPONSORED ADR 088606108 1,807 26400 SH SOLE N/A 26400 0 0
BIG LOTS INC COM 089302103 1,867 52922 SH SOLE N/A 52922 0 0
BIOGEN IDEC INC COM 09062X103 9,575 49712 SH SOLE N/A 49712 0 0
BMC SOFTWARE INC COM 055921100 7,673 165612 SH SOLE N/A 165612 0 0
BOEING CO COM 097023105 7,275 84741 SH SOLE N/A 84741 0 0
BORGWARNER INC COM 099724106 412 5326 SH SOLE N/A 5326 0 0
BOSTON PROPERTIES INC COM 101121101 11,199 110815 SH SOLE N/A 110815 0 0
BP PLC-SPONS ADR SPONSORED ADR 055622104 1,974 46600 SH SOLE N/A 46600 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 7,461 181140 SH SOLE N/A 181140 0 0
Broadcom Corp CL A 111320107 6,741 194375 SH SOLE N/A 194375 0 0
CA INC COM 12673P105 13,678 543195 SH SOLE N/A 543195 0 0
CACI International Inc CL A 127190304 1,430 24702 SH SOLE N/A 24702 0 0
CAMECO CORP COM 13321L108 238 11300 SH SOLE N/A 11300 0 0
CAMPBELL SOUP CO COM 134429109 911 20082 SH SOLE N/A 20082 0 0
Canadian National Railway Co COM 136375102 3,257 31900 SH SOLE N/A 31900 0 0
CANADIAN NATURAL RESOURCES COM 136385101 5,657 173700 SH SOLE N/A 173700 0 0
CANADIAN PACIFIC RAILWAY LTD COM 13645T100 1,604 12100 SH SOLE N/A 12100 0 0
CARDINAL HEALTH INC COM 14149Y108 6,128 147246 SH SOLE N/A 147246 0 0
CBS CORP CL B 124857202 453 9701 SH SOLE N/A 9701 0 0
CENOVUS ENERGY INC-W/I COM 15135U109 3,992 126900 SH SOLE N/A 126900 0 0
CenturyLink Inc COM 156700106 16,521 470275 SH SOLE N/A 470275 0 0
CERNER CORP COM 156782104 862 9100 SH SOLE N/A 9100 0 0
CH Robinson Worldwide Inc COM NEW 12541W209 13,564 228119 SH SOLE N/A 228119 0 0
Charles Schwab Corp/The COM 808513105 3,629 205141 SH SOLE N/A 205141 0 0
CHESAPEAKE ENERGY CORP COM 165167107 408 20000 SH SOLE N/A 20000 0 0
Chevron Corp COM 166764100 4,555 38335 SH SOLE N/A 38335 0 0
CHUBB CORP COM 171232101 11,317 129295 SH SOLE N/A 129295 0 0
CISCO SYSTEMS INC COM 17275R102 6,556 313780 SH SOLE N/A 313780 0 0
CITIGROUP INC COM NEW 172967424 718 16222 SH SOLE N/A 16222 0 0
CITRIX SYSTEMS INC COM 177376100 14,849 205801 SH SOLE N/A 205801 0 0
COACH INC COM 189754104 11,029 220622 SH SOLE N/A 220622 0 0
COCA-COLA CO/THE COM 191216100 2,111 52200 SH SOLE N/A 52200 0 0
Cognizant Technology Solutions Corp CL A 192446102 2,721 35507 SH SOLE N/A 35507 0 0
COMMUNITY HEALTH SYSTEMS INC COM 203668108 1,995 42107 SH SOLE N/A 42107 0 0
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
----------------------------------- -------------- --------- --------- ----------------- ---------- -------- -----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
----------------------------------- -------------- --------- --------- -------- --- ---- ---------- -------- -------- ------ -------
COMPUTER SCIENCES CORP COM 205363104 1,554 31569 SH SOLE N/A 31569 0 0
CONAGRA FOODS INC COM 205887102 4,235 118269 SH SOLE N/A 118269 0 0
CONOCOPHILLIPS COM 20825C104 2,061 34300 SH SOLE N/A 34300 0 0
CONSOL ENERGY INC COM 20854P109 219 6500 SH SOLE N/A 6500 0 0
Constellation Brands Inc CL A 21036P108 1,610 33800 SH SOLE N/A 33800 0 0
CONTINENTAL RESOURCES INC/OK COM 212015101 478 5500 SH SOLE N/A 5500 0 0
COPART INC COM 217204106 1,986 57939 SH SOLE N/A 57939 0 0
COSTCO WHOLESALE CORP COM 22160K105 1,412 13306 SH SOLE N/A 13306 0 0
Covidien Plc SHS G2554F113 4,138 60996 SH SOLE N/A 60996 0 0
CR Bard Inc COM 067383109 6,781 67286 SH SOLE N/A 67286 0 0
CVS CAREMARK CORP COM 126650100 18,721 340450 SH SOLE N/A 340450 0 0
CYTEC INDUSTRIES INC COM 232820100 1,835 24776 SH SOLE N/A 24776 0 0
DANAHER CORP COM 235851102 2,345 37739 SH SOLE N/A 37739 0 0
DaVita HealthCare Partners Inc COM 23918K108 1,596 13459 SH SOLE N/A 13459 0 0
DEERE & CO COM 244199105 2,211 25718 SH SOLE N/A 25718 0 0
Devon Energy Corp COM 25179M103 694 12300 SH SOLE N/A 12300 0 0
Diamond Offshore Drilling Inc COM 25271C102 220 3162 SH SOLE N/A 3162 0 0
DOLLAR TREE INC COM 256746108 1,345 27763 SH SOLE N/A 27763 0 0
Domtar Corp COM NEW 257559203 1,799 23181 SH SOLE N/A 23181 0 0
DOVER CORP COM 260003108 1,580 21679 SH SOLE N/A 21679 0 0
DreamWorks Animation SKG Inc CL A 26153C103 1,463 77141 SH SOLE N/A 77141 0 0
E*TRADE FINANCIAL CORP COM NEW 269246401 1,429 133384 SH SOLE N/A 133384 0 0
Eastman Chemical Co COM 277432100 5,239 74976 SH SOLE N/A 74976 0 0
EBAY INC COM 278642103 1,190 21950 SH SOLE N/A 21950 0 0
EI Du Pont de Nemours & Co COM 263534109 3,247 66059 SH SOLE N/A 66059 0 0
Eldorado Gold Corp COM 284902103 945 97300 SH SOLE N/A 97300 0 0
EMC Corp/Massachusetts COM 268648102 21,350 893700 SH SOLE N/A 893700 0 0
EMERSON ELECTRIC CO COM 291011104 6,770 121174 SH SOLE N/A 121174 0 0
ENBRIDGE INC COM 29250N105 5,416 114500 SH SOLE N/A 114500 0 0
ENCANA CORP COM 292505104 2,251 113900 SH SOLE N/A 113900 0 0
EOG RESOURCES INC COM 26875P101 1,608 12556 SH SOLE N/A 12556 0 0
Equinix Inc COM NEW 29444U502 2,635 12180 SH SOLE N/A 12180 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 3,773 68534 SH SOLE N/A 68534 0 0
Estee Lauder Cos Inc/The CL A 518439104 2,011 31401 SH SOLE N/A 31401 0 0
Expeditors International COM 302130109 12,734 356402 SH SOLE N/A 356402 0 0
Washington Inc
Express Scripts Holding Co COM 30219G108 16,369 284088 SH SOLE N/A 284088 0 0
EXXON MOBIL CORP COM 30231G102 10,144 112571 SH SOLE N/A 112571 0 0
F5 Networks Inc COM 315616102 16,329 183304 SH SOLE N/A 183304 0 0
Flextronics International Ltd ORD Y2573F102 1,806 267096 SH SOLE N/A 267096 0 0
FRANCO-NEVADA CORP COM 351858105 849 18300 SH SOLE N/A 18300 0 0
FRANKLIN RESOURCES INC COM 354613101 5,721 37938 SH SOLE N/A 37938 0 0
FREEPORT-MCMORAN COPPER COM 35671D857 8,504 256927 SH SOLE N/A 256927 0 0
GAP INC/THE COM 364760108 6,286 177578 SH SOLE N/A 177578 0 0
General Cable Corp COM 369300108 2,148 58634 SH SOLE N/A 58634 0 0
GENERAL ELECTRIC CO COM 369604103 14,172 612976 SH SOLE N/A 612976 0 0
GENERAL MILLS INC COM 370334104 4,295 87106 SH SOLE N/A 87106 0 0
Genworth Financial Inc COM CL A 37247D106 2,046 204637 SH SOLE N/A 204637 0 0
GOLD FIELDS LTD-SPONS ADR SPONSORED ADR 38059T106 715 92300 SH SOLE N/A 92300 0 0
GOLDCORP INC COM 380956409 2,072 61600 SH SOLE N/A 61600 0 0
Goldman Sachs Group Inc/The COM 38141G104 11,068 75217 SH SOLE N/A 75217 0 0
GOODYEAR TIRE & RUBBER CO COM 382550101 2,077 164805 SH SOLE N/A 164805 0 0
H&R BLOCK INC COM 093671105 2,172 73842 SH SOLE N/A 73842 0 0
HARMONY GOLD MNG-SPON ADR SPONSORED ADR 413216300 353 55100 SH SOLE N/A 55100 0 0
Health Management Associates Inc CL A 421933102 1,950 151526 SH SOLE N/A 151526 0 0
HELMERICH & PAYNE COM 423452101 4,043 66600 SH SOLE N/A 66600 0 0
HESS CORP COM 42809H107 723 10100 SH SOLE N/A 10100 0 0
HollyFrontier Corp COM 436106108 9,058 176051 SH SOLE N/A 176051 0 0
HOME DEPOT INC COM 437076102 3,585 51380 SH SOLE N/A 51380 0 0
HUMANA INC COM 444859102 15,710 227324 SH SOLE N/A 227324 0 0
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
----------------------------------- -------------- --------- --------- ----------------- ---------- -------- -----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
----------------------------------- -------------- --------- --------- -------- --- ---- ---------- -------- -------- ------ -------
IAMGOLD CORP COM 450913108 375 51100 SH SOLE N/A 51100 0 0
Illinois Tool Works Inc COM 452308109 4,414 72436 SH SOLE N/A 72436 0 0
IMPERIAL OIL LTD COM NEW 453038408 6,934 167000 SH SOLE N/A 167000 0 0
Ingersoll-Rand Plc SHS G47791101 3,859 70148 SH SOLE N/A 70148 0 0
INTEL CORP COM 458140100 22,832 1045653 SH SOLE N/A 1045653 0 0
International Business Machines COM 459200101 8,558 40120 SH SOLE N/A 40120 0 0
Corp
International Game Technology COM 459902102 1,476 89444 SH SOLE N/A 89444 0 0
INTERNATIONAL PAPER CO COM 460146103 6,026 129372 SH SOLE N/A 129372 0 0
INTUIT INC COM 461202103 16,799 255849 SH SOLE N/A 255849 0 0
Intuitive Surgical Inc COM NEW 46120E602 6,650 13539 SH SOLE N/A 13539 0 0
IRON MOUNTAIN INC COM 462846106 1,436 39543 SH SOLE N/A 39543 0 0
iShares Core S&P 500 ETF CORE S&P500 464287200 27,538 175000 SH SOLE N/A 0 0 175000
ETF
ISHARES IBOXX INV GR CORP BD IBOXX INV CPBD 464287242 43,614 363755 SH SOLE N/A 363755 0 0
iShares MSCI Brazil Capped Ind MSCI BRAZIL 464286400 1,137 20869 SH SOLE N/A 20869 0 0
CAPP
ISHARES MSCI EMERGING MKT MSCI EMERG MKT 464287234 2,848,627 66603389 SH SOLE N/A 66454465 0 148924
JACK IN THE BOX INC COM 466367109 1,830 52911 SH SOLE N/A 52911 0 0
JB Hunt Transport Services Inc COM 445658107 319 4289 SH SOLE N/A 4289 0 0
JOHNSON & JOHNSON COM 478160104 6,220 76293 SH SOLE N/A 76293 0 0
JOY GLOBAL INC COM 481165108 794 13347 SH SOLE N/A 13347 0 0
JPMorgan Chase & Co COM 46625H100 3,842 80942 SH SOLE N/A 80942 0 0
JUNIPER NETWORKS INC COM 48203R104 17,244 930115 SH SOLE N/A 930115 0 0
KELLOGG CO COM 487836108 5,154 80000 SH SOLE N/A 80000 0 0
KINROSS GOLD CORP COM NO PAR 496902404 1,126 140000 SH SOLE N/A 140000 0 0
Kla-Tencor Corp COM 482480100 12,120 229799 SH SOLE N/A 229799 0 0
Kohl's Corp COM 500255104 5,421 117520 SH SOLE N/A 117520 0 0
KRAFT FOODS GROUP INC COM 50076Q106 3,611 70074 SH SOLE N/A 70074 0 0
Laboratory Corp of America Holdings COM NEW 50540R409 6,575 72898 SH SOLE N/A 72898 0 0
LAM RESEARCH CORP COM 512807108 3,061 73823 SH SOLE N/A 73823 0 0
Lamar Advertising Co CL A 512815101 2,263 46584 SH SOLE N/A 46584 0 0
LEGG MASON INC COM 524901105 2,020 62833 SH SOLE N/A 62833 0 0
LEGGETT & PLATT INC COM 524660107 413 12238 SH SOLE N/A 12238 0 0
Lennar Corp CL A 526057104 224 5400 SH SOLE N/A 5400 0 0
Life Technologies Corp COM 53217V109 1,577 24408 SH SOLE N/A 24408 0 0
LIFEPOINT HOSPITALS INC COM 53219L109 1,861 38407 SH SOLE N/A 38407 0 0
LINEAR TECHNOLOGY CORP COM 535678106 921 24011 SH SOLE N/A 24011 0 0
LOCKHEED MARTIN CORP COM 539830109 21,155 219176 SH SOLE N/A 219176 0 0
Lorillard Inc COM 544147101 6,618 164020 SH SOLE N/A 164020 0 0
LOWE'S COS INC COM 548661107 283 7453 SH SOLE N/A 7453 0 0
Macy's Inc COM 55616P104 10,218 244228 SH SOLE N/A 244228 0 0
MARATHON OIL CORP COM 565849106 701 20800 SH SOLE N/A 20800 0 0
Marsh & McLennan Cos Inc COM 571748102 2,079 54746 SH SOLE N/A 54746 0 0
Martin Marietta Materials Inc COM 573284106 2,030 19900 SH SOLE N/A 19900 0 0
MASCO CORP COM 574599106 239 11800 SH SOLE N/A 11800 0 0
MASTERCARD INC-CLASS A CL A 57636Q104 566 1046 SH SOLE N/A 1046 0 0
Matson Inc COM 57686G105 1,879 76367 SH SOLE N/A 76367 0 0
McGraw Hill Financial Inc COM 580645109 3,441 66063 SH SOLE N/A 66063 0 0
MCKESSON CORP COM 58155Q103 1,115 10327 SH SOLE N/A 10327 0 0
MEDTRONIC INC COM 585055106 7,769 165445 SH SOLE N/A 165445 0 0
Merck & Co Inc COM 58933Y105 4,241 95941 SH SOLE N/A 95941 0 0
MGM Resorts International COM 552953101 394 29998 SH SOLE N/A 29998 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 3,769 102498 SH SOLE N/A 102498 0 0
Microsoft Corp COM 594918104 40,353 1410704 SH SOLE N/A 1410704 0 0
MOHAWK INDUSTRIES INC COM 608190104 407 3600 SH SOLE N/A 3600 0 0
Mondelez International Inc CL A 609207105 2,835 92600 SH SOLE N/A 92600 0 0
MONSANTO CO COM 61166W101 14,979 141804 SH SOLE N/A 141804 0 0
MORGAN STANLEY COM NEW 617446448 7,646 347855 SH SOLE N/A 347855 0 0
Motorola Solutions Inc COM NEW 620076307 1,514 23649 SH SOLE N/A 23649 0 0
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
----------------------------------- -------------- --------- --------- ----------------- ---------- -------- -----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
----------------------------------- -------------- --------- --------- -------- --- ---- ---------- -------- -------- ------ -------
MURPHY OIL CORP COM 626717102 357 5600 SH SOLE N/A 5600 0 0
Mylan Inc COM 628530107 8,483 292989 SH SOLE N/A 292989 0 0
NCR Corp COM 62886E108 1,253 45452 SH SOLE N/A 45452 0 0
NetApp Inc COM 64110D104 9,818 287413 SH SOLE N/A 287413 0 0
NETFLIX INC COM 64110L106 2,953 15600 SH SOLE N/A 15600 0 0
NEW GOLD INC COM 644535106 598 64700 SH SOLE N/A 64700 0 0
NEWMONT MINING CORP COM 651639106 2,040 48700 SH SOLE N/A 48700 0 0
NOBLE ENERGY INC COM 655044105 613 5300 SH SOLE N/A 5300 0 0
NORTHERN TRUST CORP COM 665859104 2,627 48142 SH SOLE N/A 48142 0 0
NORTHROP GRUMMAN CORP COM 666807102 13,219 188436 SH SOLE N/A 188436 0 0
NVIDIA CORP COM 67066G104 3,521 274405 SH SOLE N/A 274405 0 0
OCCIDENTAL PETROLEUM CORP COM 674599105 9,255 118100 SH SOLE N/A 118100 0 0
Oceaneering International Inc COM 675232102 2,074 31231 SH SOLE N/A 31231 0 0
Omnicom Group Inc COM 681919106 2,210 37529 SH SOLE N/A 37529 0 0
ORACLE CORP COM 68389X105 29,604 915682 SH SOLE N/A 915682 0 0
O'REILLY AUTOMOTIVE INC COM 67103H107 5,618 54841 SH SOLE N/A 54841 0 0
OWENS-ILLINOIS INC COM NEW 690768403 2,087 78303 SH SOLE N/A 78303 0 0
PARKER HANNIFIN CORP COM 701094104 5,040 55032 SH SOLE N/A 55032 0 0
PATTERSON-UTI ENERGY INC COM 703481101 3,864 162061 SH SOLE N/A 162061 0 0
PERKINELMER INC COM 714046109 1,732 51497 SH SOLE N/A 51497 0 0
PETROCHINA CO LTD -ADR SPONSORED ADR 71646E100 952 7222 SH SOLE N/A 7222 0 0
PETROLEO BRASILEIRO S.A.-ADR SPONSORED ADR 71654V408 2,030 122500 SH SOLE N/A 122500 0 0
PFIZER INC COM 717081103 1,668 57808 SH SOLE N/A 57808 0 0
PHILLIPS 66 COM 718546104 339 4850 SH SOLE N/A 4850 0 0
PIONEER NATURAL RESOURCES CO COM 723787107 460 3700 SH SOLE N/A 3700 0 0
PMC - SIERRA INC COM 69344F106 1,995 293830 SH SOLE N/A 293830 0 0
PNC Financial Services Group Inc COM 693475105 485 7300 SH SOLE N/A 7300 0 0
POLYCOM INC COM 73172K104 2,040 184126 SH SOLE N/A 184126 0 0
PRAXAIR INC COM 74005P104 1,460 13087 SH SOLE N/A 13087 0 0
PRECISION CASTPARTS CORP COM 740189105 1,396 7362 SH SOLE N/A 7362 0 0
PROCTER & GAMBLE CO COM 742718109 1,357 17607 SH SOLE N/A 17607 0 0
Progressive Corp/The COM 743315103 2,771 109656 SH SOLE N/A 109656 0 0
Pulte Group Inc COM 745867101 8,665 428089 SH SOLE N/A 428089 0 0
QUALCOMM INC COM 747525103 12,395 185165 SH SOLE N/A 185165 0 0
Ralph Lauren Corp CL A 751212101 606 3580 SH SOLE N/A 3580 0 0
RANDGOLD RESOURCES LTD-ADR ADR 752344309 1,006 11700 SH SOLE N/A 11700 0 0
Range Resources Corp COM 75281A109 389 4800 SH SOLE N/A 4800 0 0
Raytheon Co COM NEW 755111507 5,592 95119 SH SOLE N/A 95119 0 0
RED HAT INC COM 756577102 10,896 215509 SH SOLE N/A 215509 0 0
RIO TINTO PLC-SPON ADR SPONSORED ADR 767204100 1,836 39000 SH SOLE N/A 39000 0 0
RITE AID CORP COM 767754104 1,966 1034700 SH SOLE N/A 1034700 0 0
Rockwell Automation Inc/DE COM 773903109 2,822 32679 SH SOLE N/A 32679 0 0
Rockwell Collins Inc COM 774341101 1,832 29031 SH SOLE N/A 29031 0 0
ROSS STORES INC COM 778296103 4,794 79091 SH SOLE N/A 79091 0 0
ROYAL GOLD INC COM 780287108 568 8000 SH SOLE N/A 8000 0 0
Salesforce.com Inc COM 79466L302 1,290 7213 SH SOLE N/A 7213 0 0
SCHLUMBERGER LTD COM 806857108 898 11987 SH SOLE N/A 11987 0 0
SEALED AIR CORP COM 81211K100 1,724 71500 SH SOLE N/A 71500 0 0
SILVER WHEATON CORP COM 828336107 1,389 44300 SH SOLE N/A 44300 0 0
Southern Copper Corp COM 84265V105 939 25000 SH SOLE N/A 25000 0 0
Southwest Airlines Co COM 844741108 3,259 241800 SH SOLE N/A 241800 0 0
Southwestern Energy Co COM 845467109 1,131 30353 SH SOLE N/A 30353 0 0
SPDR S&P 500 ETF Trust TR UNIT 78462F103 3,274,685 20901800 SH SOLE N/A 18009900 0 2891900
ST JUDE MEDICAL INC COM 790849103 13,788 340949 SH SOLE N/A 340949 0 0
STAPLES INC COM 855030102 2,092 155896 SH SOLE N/A 155896 0 0
STATE STREET CORP COM 857477103 3,959 67000 SH SOLE N/A 67000 0 0
STRYKER CORP COM 863667101 427 6552 SH SOLE N/A 6552 0 0
SUNCOR ENERGY INC COM 867224107 7,793 256000 SH SOLE N/A 256000 0 0
T ROWE PRICE GROUP INC COM 74144T108 5,311 70942 SH SOLE N/A 70942 0 0
TALISMAN ENERGY INC COM 87425E103 2,285 184000 SH SOLE N/A 184000 0 0
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
----------------------------------- -------------- --------- --------- ----------------- ---------- -------- -----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
----------------------------------- -------------- --------- --------- -------- --- ---- ---------- -------- -------- ------ -------
TD AMERITRADE HOLDING CORP COM 87236Y108 1,564 75857 SH SOLE N/A 75857 0 0
Teck Resources Ltd CL B 878742204 501 17500 SH SOLE N/A 17500 0 0
TEREX CORP COM 880779103 2,195 63773 SH SOLE N/A 63773 0 0
Tesoro Corp COM 881609101 6,357 108572 SH SOLE N/A 108572 0 0
TEXAS INSTRUMENTS INC COM 882508104 1,664 46900 SH SOLE N/A 46900 0 0
TIMKEN CO COM 887389104 284 5015 SH SOLE N/A 5015 0 0
TJX Cos Inc COM 872540109 733 15678 SH SOLE N/A 15678 0 0
TRANSCANADA CORP COM 89353D107 4,966 102400 SH SOLE N/A 102400 0 0
Turquoise Hill Resources Ltd COM 900435108 209 32300 SH SOLE N/A 32300 0 0
TYCO INTERNATIONAL LTD SHS H89128104 9,570 299077 SH SOLE N/A 299077 0 0
UNITED TECHNOLOGIES CORP COM 913017109 6,284 67260 SH SOLE N/A 67260 0 0
UNITEDHEALTH GROUP INC COM 91324P102 14,993 262069 SH SOLE N/A 262069 0 0
US BANCORP COM NEW 902973304 6,979 205684 SH SOLE N/A 205684 0 0
VALE SA-SP ADR ADR 91912E105 1,848 106900 SH SOLE N/A 106900 0 0
VALERO ENERGY CORP COM 91913Y100 9,264 203657 SH SOLE N/A 203657 0 0
Vanguard FTSE Emerging Markets FTSE EMR MKT 922042858 3,602,637 83987339 SH SOLE N/A 83818981 0 168358
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VCA ANTECH INC COM 918194101 1,825 77692 SH SOLE N/A 77692 0 0
VERISIGN INC COM 92343E102 9,346 197715 SH SOLE N/A 197715 0 0
VISA INC-CLASS A SHARES COM CL A 92826C839 1,953 11501 SH SOLE N/A 11501 0 0
WAL-MART STORES INC COM 931142103 5,388 72004 SH SOLE N/A 72004 0 0
Walt Disney Co/The COM DISNEY 254687106 13,218 232719 SH SOLE N/A 232719 0 0
Wells Fargo & Co COM 949746101 4,205 113681 SH SOLE N/A 113681 0 0
WEYERHAEUSER CO COM 962166104 2,754 87766 SH SOLE N/A 87766 0 0
WHOLE FOODS MARKET INC COM 966837106 12,955 149341 SH SOLE N/A 149341 0 0
WILLIAMS-SONOMA INC COM 969904101 2,012 39053 SH SOLE N/A 39053 0 0
WW GRA+A41INGER INC COM 384802104 4,665 20736 SH SOLE N/A 20736 0 0
XEROX CORP COM 984121103 11,386 1323950 SH SOLE N/A 1323950 0 0
YAMANA GOLD INC COM 98462Y100 1,441 93900 SH SOLE N/A 93900 0 0
ZIMMER HOLDINGS INC COM 98956P102 4,046 53794 SH SOLE N/A 53794 0 0