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Capital World Investors and Neuberger Berman Group LLC: where the books meet

At Q2 2026, at least 38% of the two 13F books was the same, across 211 stocks both listed, against 26% 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%20%40%Q2 2013: 26%, 176 in bothQ3 2013: 25%, 170 in bothQ4 2013: 25%, 163 in bothQ1 2014: 25%, 159 in both14Q2 2014: 24%, 151 in bothQ3 2014: 23%, 150 in bothQ4 2014: 24%, 150 in bothQ1 2015: 24%, 159 in both15Q2 2015: 25%, 168 in bothQ3 2015: 25%, 159 in bothQ4 2015: 27%, 162 in bothQ1 2016: 26%, 157 in both16Q2 2016: 26%, 160 in bothQ3 2016: 26%, 163 in bothQ4 2016: 28%, 178 in bothQ1 2017: 28%, 171 in both17Q2 2017: 28%, 165 in bothQ3 2017: 28%, 166 in bothQ4 2017: 28%, 170 in bothQ1 2018: 26%, 168 in both18Q2 2018: 26%, 170 in bothQ3 2018: 29%, 182 in bothQ4 2018: 30%, 178 in bothQ1 2019: 30%, 185 in both19Q2 2019: 29%, 176 in bothQ3 2019: 30%, 180 in bothQ4 2019: 30%, 190 in bothQ1 2020: 32%, 191 in both20Q2 2020: 33%, 192 in bothQ3 2020: 33%, 198 in bothQ4 2020: 31%, 195 in bothQ1 2021: 31%, 202 in both21Q2 2021: 32%, 194 in bothQ3 2021: 32%, 197 in bothQ4 2021: 33%, 204 in bothQ1 2022: 32%, 212 in both22Q2 2022: 33%, 207 in bothQ3 2022: 33%, 209 in bothQ4 2022: 33%, 205 in bothQ1 2023: 32%, 203 in both23Q2 2023: 34%, 209 in bothQ3 2023: 35%, 208 in bothQ4 2023: 34%, 197 in bothQ1 2024: 36%, 203 in both24Q2 2024: 39%, 197 in bothQ3 2024: 39%, 200 in bothQ4 2024: 40%, 209 in bothQ1 2025: 40%, 213 in both25Q2 2025: 39%, 212 in bothQ3 2025: 40%, 212 in bothQ4 2025: 40%, 218 in bothQ1 2026: 39%, 223 in both26Q2 2026: 38%, 211 in both
  • Q2 2013: 26%, 176 in both
  • Q3 2013: 25%, 170 in both
  • Q4 2013: 25%, 163 in both
  • Q1 2014: 25%, 159 in both
  • Q2 2014: 24%, 151 in both
  • Q3 2014: 23%, 150 in both
  • Q4 2014: 24%, 150 in both
  • Q1 2015: 24%, 159 in both
  • Q2 2015: 25%, 168 in both
  • Q3 2015: 25%, 159 in both
  • Q4 2015: 27%, 162 in both
  • Q1 2016: 26%, 157 in both
  • Q2 2016: 26%, 160 in both
  • Q3 2016: 26%, 163 in both
  • Q4 2016: 28%, 178 in both
  • Q1 2017: 28%, 171 in both
  • Q2 2017: 28%, 165 in both
  • Q3 2017: 28%, 166 in both
  • Q4 2017: 28%, 170 in both
  • Q1 2018: 26%, 168 in both
  • Q2 2018: 26%, 170 in both
  • Q3 2018: 29%, 182 in both
  • Q4 2018: 30%, 178 in both
  • Q1 2019: 30%, 185 in both
  • Q2 2019: 29%, 176 in both
  • Q3 2019: 30%, 180 in both
  • Q4 2019: 30%, 190 in both
  • Q1 2020: 32%, 191 in both
  • Q2 2020: 33%, 192 in both
  • Q3 2020: 33%, 198 in both
  • Q4 2020: 31%, 195 in both
  • Q1 2021: 31%, 202 in both
  • Q2 2021: 32%, 194 in both
  • Q3 2021: 32%, 197 in both
  • Q4 2021: 33%, 204 in both
  • Q1 2022: 32%, 212 in both
  • Q2 2022: 33%, 207 in both
  • Q3 2022: 33%, 209 in both
  • Q4 2022: 33%, 205 in both
  • Q1 2023: 32%, 203 in both
  • Q2 2023: 34%, 209 in both
  • Q3 2023: 35%, 208 in both
  • Q4 2023: 34%, 197 in both
  • Q1 2024: 36%, 203 in both
  • Q2 2024: 39%, 197 in both
  • Q3 2024: 39%, 200 in both
  • Q4 2024: 40%, 209 in both
  • Q1 2025: 40%, 213 in both
  • Q2 2025: 39%, 212 in both
  • Q3 2025: 40%, 212 in both
  • Q4 2025: 40%, 218 in both
  • Q1 2026: 39%, 223 in both
  • Q2 2026: 38%, 211 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 World InvestorsNeuberger Berman Group LLC
Nvidia Corp(NVDA)2.6%Trimmed4.1%Added
Microsoft Corp(MSFT)2.4%Trimmed2.6%Trimmed
Alphabet Inc CL A(GOOGL)3.1%Added2.4%Added
Alphabet Inc CL C(GOOG)1.8%Trimmed2.1%Added
Amazon.com Inc(AMZN)1.7%Added3.1%Added
Eli Lilly & Co(LLY)2.3%Added1.4%Trimmed
Apple Inc(AAPL)1.3%Added3.3%Added
Broadcom Inc(AVGO)5.4%Added1.0%Trimmed
Facebook Inc CL A(META)2.7%Trimmed0.9%Added
Asml Holding NV (usd)(ASML)0.9%Trimmed1.0%Added
Micron Technology Inc(MU)4.0%Trimmed0.7%Trimmed
Visa Inc CL A(V)1.1%Added0.7%Trimmed
General Electric Co(GE)0.7%Added0.7%Trimmed
Intel Corp(INTC)0.9%Trimmed0.6%Trimmed
JPMorgan Chase & Co(JPM)0.6%Trimmed1.7%Added
Home Depot Inc(HD)0.5%Trimmed0.9%Trimmed
Johnson & Johnson(JNJ)0.5%Added0.7%Added
Taiwan Semiconductor MFG Co ADR(TSM)1.9%Added0.4%Trimmed
Caterpillar Inc(CAT)0.4%Trimmed0.6%Trimmed
Union Pacific Corp(UNP)0.9%Added0.4%Added

and 191 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.

  • Broadcom Inc(AVGO)Capital World Investors added; Neuberger Berman Group LLC trimmed
  • Philip Morris International(PM)Capital World Investors trimmed; Neuberger Berman Group LLC added
  • Facebook Inc CL A(META)Capital World Investors trimmed; Neuberger Berman Group LLC added
  • Nvidia Corp(NVDA)Capital World Investors trimmed; Neuberger Berman Group LLC added
  • Eli Lilly & Co(LLY)Capital World Investors added; Neuberger Berman Group LLC trimmed
  • Taiwan Semiconductor MFG Co ADR(TSM)Capital World Investors added; Neuberger Berman Group LLC trimmed
  • Alphabet Inc CL C(GOOG)Capital World Investors trimmed; Neuberger Berman Group LLC added
  • Amgen Inc(AMGN)Capital World Investors trimmed; Neuberger Berman Group LLC added
  • Visa Inc CL A(V)Capital World Investors added; Neuberger Berman Group LLC trimmed
  • Starbucks Corp(SBUX)Capital World Investors trimmed; Neuberger Berman Group LLC added
  • Asml Holding NV (usd)(ASML)Capital World Investors trimmed; Neuberger Berman Group LLC added
  • Deere & Co(DE)Capital World Investors trimmed; Neuberger Berman Group LLC added
Capital World Investors: the recordNeuberger Berman Group LLC: the record

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