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Capital Research Global Investors and Invesco Ltd: where the books meet

At Q2 2026, at least 45% of the two 13F books was the same, across 220 stocks both listed, against 31% 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%24%47%Q2 2013: 31%, 183 in bothQ3 2013: 30%, 183 in bothQ4 2013: 30%, 181 in bothQ1 2014: 29%, 177 in both14Q2 2014: 29%, 177 in bothQ3 2014: 30%, 181 in bothQ4 2014: 28%, 179 in bothQ1 2015: 25%, 178 in both15Q2 2015: 27%, 172 in bothQ3 2015: 28%, 177 in bothQ4 2015: 28%, 171 in bothQ1 2016: 28%, 177 in both16Q2 2016: 26%, 173 in bothQ3 2016: 26%, 167 in bothQ4 2016: 29%, 185 in bothQ1 2017: 30%, 190 in both17Q2 2017: 30%, 195 in bothQ3 2017: 34%, 193 in bothQ4 2017: 33%, 187 in bothQ1 2018: 35%, 192 in both18Q2 2018: 36%, 203 in bothQ3 2018: 37%, 215 in bothQ4 2018: 36%, 201 in bothQ1 2019: 36%, 207 in both19Q2 2019: 34%, 191 in bothQ3 2019: 34%, 193 in bothQ4 2019: 30%, 187 in bothQ1 2020: 32%, 192 in both20Q2 2020: 32%, 202 in bothQ3 2020: 31%, 195 in bothQ4 2020: 30%, 192 in bothQ1 2021: 29%, 201 in both21Q2 2021: 30%, 200 in bothQ3 2021: 31%, 199 in bothQ4 2021: 31%, 198 in bothQ1 2022: 31%, 203 in both22Q2 2022: 32%, 199 in bothQ3 2022: 32%, 196 in bothQ4 2022: 31%, 200 in bothQ1 2023: 33%, 198 in both23Q2 2023: 35%, 206 in bothQ3 2023: 36%, 202 in bothQ4 2023: 36%, 205 in bothQ1 2024: 36%, 203 in both24Q2 2024: 38%, 205 in bothQ3 2024: 38%, 211 in bothQ4 2024: 39%, 218 in bothQ1 2025: 40%, 229 in both25Q2 2025: 42%, 221 in bothQ3 2025: 43%, 229 in bothQ4 2025: 47%, 231 in bothQ1 2026: 47%, 239 in both26Q2 2026: 45%, 220 in both
  • Q2 2013: 31%, 183 in both
  • Q3 2013: 30%, 183 in both
  • Q4 2013: 30%, 181 in both
  • Q1 2014: 29%, 177 in both
  • Q2 2014: 29%, 177 in both
  • Q3 2014: 30%, 181 in both
  • Q4 2014: 28%, 179 in both
  • Q1 2015: 25%, 178 in both
  • Q2 2015: 27%, 172 in both
  • Q3 2015: 28%, 177 in both
  • Q4 2015: 28%, 171 in both
  • Q1 2016: 28%, 177 in both
  • Q2 2016: 26%, 173 in both
  • Q3 2016: 26%, 167 in both
  • Q4 2016: 29%, 185 in both
  • Q1 2017: 30%, 190 in both
  • Q2 2017: 30%, 195 in both
  • Q3 2017: 34%, 193 in both
  • Q4 2017: 33%, 187 in both
  • Q1 2018: 35%, 192 in both
  • Q2 2018: 36%, 203 in both
  • Q3 2018: 37%, 215 in both
  • Q4 2018: 36%, 201 in both
  • Q1 2019: 36%, 207 in both
  • Q2 2019: 34%, 191 in both
  • Q3 2019: 34%, 193 in both
  • Q4 2019: 30%, 187 in both
  • Q1 2020: 32%, 192 in both
  • Q2 2020: 32%, 202 in both
  • Q3 2020: 31%, 195 in both
  • Q4 2020: 30%, 192 in both
  • Q1 2021: 29%, 201 in both
  • Q2 2021: 30%, 200 in both
  • Q3 2021: 31%, 199 in both
  • Q4 2021: 31%, 198 in both
  • Q1 2022: 31%, 203 in both
  • Q2 2022: 32%, 199 in both
  • Q3 2022: 32%, 196 in both
  • Q4 2022: 31%, 200 in both
  • Q1 2023: 33%, 198 in both
  • Q2 2023: 35%, 206 in both
  • Q3 2023: 36%, 202 in both
  • Q4 2023: 36%, 205 in both
  • Q1 2024: 36%, 203 in both
  • Q2 2024: 38%, 205 in both
  • Q3 2024: 38%, 211 in both
  • Q4 2024: 39%, 218 in both
  • Q1 2025: 40%, 229 in both
  • Q2 2025: 42%, 221 in both
  • Q3 2025: 43%, 229 in both
  • Q4 2025: 47%, 231 in both
  • Q1 2026: 47%, 239 in both
  • Q2 2026: 45%, 220 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.

StockCapital Research Global InvestorsInvesco Ltd
Nvidia Corporation(NVDA)5.7%Added5.2%Added
Microsoft Corp(MSFT)4.9%Trimmed3.0%Added
Amazon.com Inc(AMZN)4.0%Added2.7%Added
Alphabet Inc CL A(GOOGL)3.1%Added2.6%Added
Apple Inc(AAPL)2.4%Trimmed4.3%Added
Broadcom Inc(AVGO)6.0%Trimmed2.1%Trimmed
Alphabet Inc CL C(GOOG)2.1%Added1.8%Added
Facebook Inc CL A(META)3.1%Added1.7%Added
Applied Materials Inc(AMAT)2.2%Trimmed1.6%Added
Intel Corp(INTC)1.4%Trimmed1.7%Added
Cisco Systems Inc(CSCO)1.1%Added1.3%Trimmed
Netflix Inc(NFLX)0.7%Added0.8%Added
Linde PLC(LIN)1.3%Added0.6%Added
Micron Technology Inc(MU)0.6%Trimmed3.3%Added
G7997r103(STX)0.6%Trimmed0.6%Added
Tesla Motors Inc(TSLA)0.5%Trimmed1.8%Added
Kla-tencor Corp(KLAC)0.4%Added1.1%Added
Eli Lilly & Co(LLY)3.5%Trimmed0.4%Added
Gilead Sciences Inc(GILD)0.3%Trimmed0.4%Trimmed
JPMorgan Chase & Co(JPM)1.3%Added0.3%Added

and 200 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.

  • Apple Inc(AAPL)Capital Research Global Investors trimmed; Invesco Ltd added
  • Micron Technology Inc(MU)Capital Research Global Investors trimmed; Invesco Ltd added
  • Microsoft Corp(MSFT)Capital Research Global Investors trimmed; Invesco Ltd added
  • Advanced Micro Devices Inc(AMD)Capital Research Global Investors trimmed; Invesco Ltd added
  • Eli Lilly & Co(LLY)Capital Research Global Investors trimmed; Invesco Ltd added
  • Tesla Motors Inc(TSLA)Capital Research Global Investors trimmed; Invesco Ltd added
  • Lam Research Corp(LRCX)Capital Research Global Investors trimmed; Invesco Ltd added
  • Intel Corp(INTC)Capital Research Global Investors trimmed; Invesco Ltd added
  • Applied Materials Inc(AMAT)Capital Research Global Investors trimmed; Invesco Ltd added
  • Wal-mart Stores Inc(WMT)Capital Research Global Investors trimmed; Invesco Ltd added
  • Cisco Systems Inc(CSCO)Capital Research Global Investors added; Invesco Ltd trimmed
  • Costco Wholesale Corp(COST)Capital Research Global Investors trimmed; Invesco Ltd added
Capital Research Global Investors: the recordInvesco Ltd: the record

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