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← Caxton Associates LLP, its record

Caxton Associates LLP and Fidelity (FMR LLC): where the books meet

At Q2 2026, at least 25% of the two 13F books was the same, across 126 stocks both listed, against 7.1% 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%15%30%Q2 2013: 7.1%, 47 in bothQ3 2013: 7.9%, 38 in bothQ4 2013: 6.0%, 68 in bothQ1 2014: 8.8%, 62 in both14Q2 2014: 6.1%, 54 in bothQ3 2014: 7.1%, 62 in bothQ4 2014: 6.6%, 46 in bothQ1 2015: 10%, 58 in both15Q2 2015: 6.2%, 42 in bothQ3 2015: 7.3%, 35 in bothQ4 2015: 12%, 29 in bothQ1 2016: 7.7%, 45 in both16Q2 2016: 7.3%, 61 in bothQ3 2016: 8.8%, 61 in bothQ4 2016: 11%, 79 in bothQ1 2017: 2.5%, 111 in both17Q2 2017: 4.1%, 171 in bothQ3 2017: 15%, 181 in bothQ4 2017: 13%, 110 in bothQ1 2018: 15%, 120 in both18Q2 2018: 14%, 145 in bothQ3 2018: 14%, 127 in bothQ4 2018: 13%, 91 in bothQ1 2019: 13%, 97 in both19Q2 2019: 8.6%, 98 in bothQ3 2019: 10%, 103 in bothQ4 2019: 13%, 102 in bothQ1 2020: 20%, 125 in both20Q2 2020: 14%, 105 in bothQ3 2020: 13%, 108 in bothQ4 2020: 7.5%, 49 in bothQ1 2021: 21%, 84 in both21Q2 2021: 19%, 90 in bothQ3 2021: 14%, 104 in bothQ4 2021: 13%, 117 in bothQ1 2022: 10%, 103 in both22Q2 2022: 7.1%, 114 in bothQ3 2022: 16%, 94 in bothQ4 2022: 8.0%, 84 in bothQ1 2023: 15%, 108 in both23Q2 2023: 29%, 133 in bothQ3 2023: 24%, 105 in bothQ4 2023: 25%, 121 in bothQ1 2024: 26%, 118 in both24Q2 2024: 23%, 126 in bothQ3 2024: 16%, 129 in bothQ4 2024: 15%, 131 in bothQ1 2025: 19%, 148 in both25Q2 2025: 30%, 150 in bothQ3 2025: 23%, 122 in bothQ4 2025: 23%, 129 in bothQ1 2026: 29%, 131 in both26Q2 2026: 25%, 126 in both
  • Q2 2013: 7.1%, 47 in both
  • Q3 2013: 7.9%, 38 in both
  • Q4 2013: 6.0%, 68 in both
  • Q1 2014: 8.8%, 62 in both
  • Q2 2014: 6.1%, 54 in both
  • Q3 2014: 7.1%, 62 in both
  • Q4 2014: 6.6%, 46 in both
  • Q1 2015: 10%, 58 in both
  • Q2 2015: 6.2%, 42 in both
  • Q3 2015: 7.3%, 35 in both
  • Q4 2015: 12%, 29 in both
  • Q1 2016: 7.7%, 45 in both
  • Q2 2016: 7.3%, 61 in both
  • Q3 2016: 8.8%, 61 in both
  • Q4 2016: 11%, 79 in both
  • Q1 2017: 2.5%, 111 in both
  • Q2 2017: 4.1%, 171 in both
  • Q3 2017: 15%, 181 in both
  • Q4 2017: 13%, 110 in both
  • Q1 2018: 15%, 120 in both
  • Q2 2018: 14%, 145 in both
  • Q3 2018: 14%, 127 in both
  • Q4 2018: 13%, 91 in both
  • Q1 2019: 13%, 97 in both
  • Q2 2019: 8.6%, 98 in both
  • Q3 2019: 10%, 103 in both
  • Q4 2019: 13%, 102 in both
  • Q1 2020: 20%, 125 in both
  • Q2 2020: 14%, 105 in both
  • Q3 2020: 13%, 108 in both
  • Q4 2020: 7.5%, 49 in both
  • Q1 2021: 21%, 84 in both
  • Q2 2021: 19%, 90 in both
  • Q3 2021: 14%, 104 in both
  • Q4 2021: 13%, 117 in both
  • Q1 2022: 10%, 103 in both
  • Q2 2022: 7.1%, 114 in both
  • Q3 2022: 16%, 94 in both
  • Q4 2022: 8.0%, 84 in both
  • Q1 2023: 15%, 108 in both
  • Q2 2023: 29%, 133 in both
  • Q3 2023: 24%, 105 in both
  • Q4 2023: 25%, 121 in both
  • Q1 2024: 26%, 118 in both
  • Q2 2024: 23%, 126 in both
  • Q3 2024: 16%, 129 in both
  • Q4 2024: 15%, 131 in both
  • Q1 2025: 19%, 148 in both
  • Q2 2025: 30%, 150 in both
  • Q3 2025: 23%, 122 in both
  • Q4 2025: 23%, 129 in both
  • Q1 2026: 29%, 131 in both
  • Q2 2026: 25%, 126 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.

StockCaxton Associates LLPFidelity (FMR LLC)
Apple Inc(AAPL)7.3%Added4.1%Added
Nvidia Corp(NVDA)3.8%Trimmed8.9%Added
Amazon Com Inc(AMZN)6.0%Added3.8%Added
Microsoft Corp(MSFT)7.1%Trimmed3.0%Trimmed
Alphabet Inc(GOOGL)2.5%Added3.9%Added
SanDisk Corp(SNDK)1.6%New0.8%Trimmed
Advanced Micro Devices Inc(AMD)5.0%Trimmed0.6%Added
Lam Research Corp(LRCX)1.9%Added0.6%Added
Bank of America Corporation(BAC)2.2%Added0.5%Trimmed
Ciena Corp(CIEN)1.1%New0.4%Trimmed
Micron Technology Inc(MU)0.3%Trimmed1.3%Trimmed
On Semiconductor Corp(ON)0.6%Added0.2%Trimmed
Applied Matls Inc(AMAT)0.2%Added0.3%Added
Amphenol Corp New(APH)0.1%Added0.5%Trimmed
Kenvue Inc(KVUE)1.1%Trimmed0.1%Added
Ge Vernova Inc(GEV)0.1%Trimmed0.8%Trimmed
Unitedhealth Group Inc(UNH)0.1%Added0.5%Added
United Contl HLDGS Inc(UAL)under 0.1%New0.1%Added
Danaher Corp Del(DHR)under 0.1%Added0.2%Added
Snowflake Inc(SNOW)under 0.1%Addedunder 0.1%Trimmed

and 106 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.

  • Nvidia Corp(NVDA)Caxton Associates LLP trimmed; Fidelity (FMR LLC) added
  • Broadcom Inc(AVGO)Caxton Associates LLP trimmed; Fidelity (FMR LLC) added
  • Taiwan Semiconductor MFG LTD(TSM)Caxton Associates LLP added; Fidelity (FMR LLC) trimmed
  • SanDisk Corp(SNDK)Caxton Associates LLP started; Fidelity (FMR LLC) trimmed
  • Western Digital Corp(WDC)Caxton Associates LLP added; Fidelity (FMR LLC) trimmed
  • Advanced Micro Devices Inc(AMD)Caxton Associates LLP trimmed; Fidelity (FMR LLC) added
  • Visa Inc(V)Caxton Associates LLP started; Fidelity (FMR LLC) trimmed
  • Boeing Co(BA)Caxton Associates LLP sold out; Fidelity (FMR LLC) added
  • Wells Fargo & Co New(WFC)Caxton Associates LLP added; Fidelity (FMR LLC) trimmed
  • Amphenol Corp New(APH)Caxton Associates LLP added; Fidelity (FMR LLC) trimmed
  • Astera Labs Inc(ALAB)Caxton Associates LLP started; Fidelity (FMR LLC) trimmed
  • Bank of America Corporation(BAC)Caxton Associates LLP added; Fidelity (FMR LLC) trimmed
Caxton Associates LLP: the recordFidelity (FMR LLC): the record

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