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Baillie Gifford & Co and Fidelity (FMR LLC): where the books meet

At Q2 2026, at least 27% of the two 13F books was the same, across 118 stocks both listed, against 15% 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%14%27%Q2 2013: 15%, 66 in bothQ3 2013: 16%, 77 in bothQ4 2013: 17%, 72 in bothQ1 2014: 17%, 71 in both14Q2 2014: 16%, 65 in bothQ3 2014: 15%, 70 in bothQ4 2014: 13%, 66 in bothQ1 2015: 13%, 68 in both15Q2 2015: 12%, 64 in bothQ3 2015: 12%, 64 in bothQ4 2015: 14%, 68 in bothQ1 2016: 14%, 64 in both16Q2 2016: 14%, 63 in bothQ3 2016: 15%, 63 in bothQ4 2016: 14%, 65 in bothQ1 2017: 15%, 64 in both17Q2 2017: 16%, 68 in bothQ3 2017: 16%, 71 in bothQ4 2017: 16%, 68 in bothQ1 2018: 17%, 73 in both18Q2 2018: 19%, 70 in bothQ3 2018: 19%, 71 in bothQ4 2018: 18%, 76 in bothQ1 2019: 20%, 80 in both19Q2 2019: 20%, 73 in bothQ3 2019: 20%, 73 in bothQ4 2019: 20%, 71 in bothQ1 2020: 22%, 76 in both20Q2 2020: 23%, 87 in bothQ3 2020: 24%, 92 in bothQ4 2020: 22%, 139 in bothQ1 2021: 20%, 119 in both21Q2 2021: 20%, 121 in bothQ3 2021: 20%, 126 in bothQ4 2021: 21%, 123 in bothQ1 2022: 20%, 121 in both22Q2 2022: 18%, 123 in bothQ3 2022: 18%, 130 in bothQ4 2022: 16%, 127 in bothQ1 2023: 18%, 128 in both23Q2 2023: 20%, 96 in bothQ3 2023: 20%, 94 in bothQ4 2023: 21%, 92 in bothQ1 2024: 24%, 98 in both24Q2 2024: 25%, 94 in bothQ3 2024: 23%, 101 in bothQ4 2024: 25%, 110 in bothQ1 2025: 25%, 115 in both25Q2 2025: 27%, 120 in bothQ3 2025: 26%, 119 in bothQ4 2025: 26%, 109 in bothQ1 2026: 25%, 103 in both26Q2 2026: 27%, 118 in both
  • Q2 2013: 15%, 66 in both
  • Q3 2013: 16%, 77 in both
  • Q4 2013: 17%, 72 in both
  • Q1 2014: 17%, 71 in both
  • Q2 2014: 16%, 65 in both
  • Q3 2014: 15%, 70 in both
  • Q4 2014: 13%, 66 in both
  • Q1 2015: 13%, 68 in both
  • Q2 2015: 12%, 64 in both
  • Q3 2015: 12%, 64 in both
  • Q4 2015: 14%, 68 in both
  • Q1 2016: 14%, 64 in both
  • Q2 2016: 14%, 63 in both
  • Q3 2016: 15%, 63 in both
  • Q4 2016: 14%, 65 in both
  • Q1 2017: 15%, 64 in both
  • Q2 2017: 16%, 68 in both
  • Q3 2017: 16%, 71 in both
  • Q4 2017: 16%, 68 in both
  • Q1 2018: 17%, 73 in both
  • Q2 2018: 19%, 70 in both
  • Q3 2018: 19%, 71 in both
  • Q4 2018: 18%, 76 in both
  • Q1 2019: 20%, 80 in both
  • Q2 2019: 20%, 73 in both
  • Q3 2019: 20%, 73 in both
  • Q4 2019: 20%, 71 in both
  • Q1 2020: 22%, 76 in both
  • Q2 2020: 23%, 87 in both
  • Q3 2020: 24%, 92 in both
  • Q4 2020: 22%, 139 in both
  • Q1 2021: 20%, 119 in both
  • Q2 2021: 20%, 121 in both
  • Q3 2021: 20%, 126 in both
  • Q4 2021: 21%, 123 in both
  • Q1 2022: 20%, 121 in both
  • Q2 2022: 18%, 123 in both
  • Q3 2022: 18%, 130 in both
  • Q4 2022: 16%, 127 in both
  • Q1 2023: 18%, 128 in both
  • Q2 2023: 20%, 96 in both
  • Q3 2023: 20%, 94 in both
  • Q4 2023: 21%, 92 in both
  • Q1 2024: 24%, 98 in both
  • Q2 2024: 25%, 94 in both
  • Q3 2024: 23%, 101 in both
  • Q4 2024: 25%, 110 in both
  • Q1 2025: 25%, 115 in both
  • Q2 2025: 27%, 120 in both
  • Q3 2025: 26%, 119 in both
  • Q4 2025: 26%, 109 in both
  • Q1 2026: 25%, 103 in both
  • Q2 2026: 27%, 118 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.

StockBaillie Gifford & CoFidelity (FMR LLC)
Nvidia Corp(NVDA)7.6%Added8.9%Added
Amazon.Com(AMZN)5.8%Trimmed3.8%Added
Space Exploration Technologies Corp(SPCX)8.0%New2.2%New
Facebook Cl.A(META)1.6%Trimmed2.3%Trimmed
Google Inc Class C(GOOG)1.0%Trimmed1.9%Added
Microsoft(MSFT)0.9%Trimmed3.0%Trimmed
Google(GOOGL)0.9%Added3.9%Added
Mastercard Inc-Class A(MA)0.8%Added0.5%Trimmed
Broadcom Inc(AVGO)0.5%Added2.4%Added
Apple(AAPL)0.5%Added4.1%Added
Netflix Inc(NFLX)1.0%Trimmed0.4%Trimmed
Tsmc ADR(TSM)0.4%Trimmed1.2%Trimmed
AppLovin(APP)3.0%Trimmed0.4%Added
Philip Morris Intl(PM)0.3%Added0.4%Added
Thermo Fisher Scientific(TMO)0.3%Trimmed0.3%Added
Tesla Motors(TSLA)0.3%Trimmed0.7%Added
Kla-tencor Corp(KLAC)0.3%New0.6%Added
Shopify 'A'(SHOP)2.9%Trimmed0.2%Added
On Semiconductor Corp(ON)0.3%Trimmed0.2%Trimmed
Datadog(DDOG)0.3%Trimmed0.2%Added

and 98 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.

  • Amazon.Com(AMZN)Baillie Gifford & Co trimmed; Fidelity (FMR LLC) added
  • Google Inc Class C(GOOG)Baillie Gifford & Co trimmed; Fidelity (FMR LLC) added
  • Micron Technology Inc(MU)Baillie Gifford & Co started; Fidelity (FMR LLC) trimmed
  • Marvell Technology Inc(MRVL)Baillie Gifford & Co started; Fidelity (FMR LLC) trimmed
  • Tesla Motors(TSLA)Baillie Gifford & Co trimmed; Fidelity (FMR LLC) added
  • Mastercard Inc-Class A(MA)Baillie Gifford & Co added; Fidelity (FMR LLC) trimmed
  • UnitedHealth(UNH)Baillie Gifford & Co sold out; Fidelity (FMR LLC) added
  • Cisco Sys Inc(CSCO)Baillie Gifford & Co trimmed; Fidelity (FMR LLC) added
  • AppLovin(APP)Baillie Gifford & Co trimmed; Fidelity (FMR LLC) added
  • Coca Cola(KO)Baillie Gifford & Co trimmed; Fidelity (FMR LLC) added
  • Seagate Technology Hldngs PL(STX)Baillie Gifford & Co started; Fidelity (FMR LLC) trimmed
  • Thermo Fisher Scientific(TMO)Baillie Gifford & Co trimmed; Fidelity (FMR LLC) added
Baillie Gifford & Co: the recordFidelity (FMR LLC): the record

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