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← Caxton Associates LLP, its record

Caxton Associates LLP and Invesco Ltd: where the books meet

At Q2 2026, at least 30% of the two 13F books was the same, across 171 stocks both listed, against 5.7% 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: 5.7%, 38 in bothQ3 2013: 5.7%, 30 in bothQ4 2013: 6.4%, 57 in bothQ1 2014: 8.2%, 53 in both14Q2 2014: 6.2%, 50 in bothQ3 2014: 7.4%, 63 in bothQ4 2014: 7.4%, 43 in bothQ1 2015: 11%, 61 in both15Q2 2015: 6.7%, 45 in bothQ3 2015: 6.1%, 29 in bothQ4 2015: 9.5%, 29 in bothQ1 2016: 8.1%, 41 in both16Q2 2016: 6.9%, 56 in bothQ3 2016: 6.8%, 55 in bothQ4 2016: 10%, 61 in bothQ1 2017: 2.0%, 104 in both17Q2 2017: 3.3%, 167 in bothQ3 2017: 15%, 200 in bothQ4 2017: 14%, 113 in bothQ1 2018: 15%, 115 in both18Q2 2018: 15%, 154 in bothQ3 2018: 15%, 153 in bothQ4 2018: 15%, 117 in bothQ1 2019: 14%, 110 in both19Q2 2019: 9.9%, 107 in bothQ3 2019: 11%, 102 in bothQ4 2019: 12%, 96 in bothQ1 2020: 20%, 132 in both20Q2 2020: 11%, 104 in bothQ3 2020: 13%, 115 in bothQ4 2020: 7.2%, 51 in bothQ1 2021: 13%, 95 in both21Q2 2021: 14%, 104 in bothQ3 2021: 14%, 105 in bothQ4 2021: 15%, 138 in bothQ1 2022: 10%, 108 in both22Q2 2022: 9.1%, 134 in bothQ3 2022: 14%, 111 in bothQ4 2022: 8.4%, 98 in bothQ1 2023: 17%, 119 in both23Q2 2023: 26%, 162 in bothQ3 2023: 23%, 131 in bothQ4 2023: 23%, 149 in bothQ1 2024: 23%, 131 in both24Q2 2024: 22%, 136 in bothQ3 2024: 16%, 143 in bothQ4 2024: 15%, 156 in bothQ1 2025: 21%, 192 in both25Q2 2025: 26%, 174 in bothQ3 2025: 21%, 143 in bothQ4 2025: 29%, 156 in bothQ1 2026: 26%, 165 in both26Q2 2026: 30%, 171 in both
  • Q2 2013: 5.7%, 38 in both
  • Q3 2013: 5.7%, 30 in both
  • Q4 2013: 6.4%, 57 in both
  • Q1 2014: 8.2%, 53 in both
  • Q2 2014: 6.2%, 50 in both
  • Q3 2014: 7.4%, 63 in both
  • Q4 2014: 7.4%, 43 in both
  • Q1 2015: 11%, 61 in both
  • Q2 2015: 6.7%, 45 in both
  • Q3 2015: 6.1%, 29 in both
  • Q4 2015: 9.5%, 29 in both
  • Q1 2016: 8.1%, 41 in both
  • Q2 2016: 6.9%, 56 in both
  • Q3 2016: 6.8%, 55 in both
  • Q4 2016: 10%, 61 in both
  • Q1 2017: 2.0%, 104 in both
  • Q2 2017: 3.3%, 167 in both
  • Q3 2017: 15%, 200 in both
  • Q4 2017: 14%, 113 in both
  • Q1 2018: 15%, 115 in both
  • Q2 2018: 15%, 154 in both
  • Q3 2018: 15%, 153 in both
  • Q4 2018: 15%, 117 in both
  • Q1 2019: 14%, 110 in both
  • Q2 2019: 9.9%, 107 in both
  • Q3 2019: 11%, 102 in both
  • Q4 2019: 12%, 96 in both
  • Q1 2020: 20%, 132 in both
  • Q2 2020: 11%, 104 in both
  • Q3 2020: 13%, 115 in both
  • Q4 2020: 7.2%, 51 in both
  • Q1 2021: 13%, 95 in both
  • Q2 2021: 14%, 104 in both
  • Q3 2021: 14%, 105 in both
  • Q4 2021: 15%, 138 in both
  • Q1 2022: 10%, 108 in both
  • Q2 2022: 9.1%, 134 in both
  • Q3 2022: 14%, 111 in both
  • Q4 2022: 8.4%, 98 in both
  • Q1 2023: 17%, 119 in both
  • Q2 2023: 26%, 162 in both
  • Q3 2023: 23%, 131 in both
  • Q4 2023: 23%, 149 in both
  • Q1 2024: 23%, 131 in both
  • Q2 2024: 22%, 136 in both
  • Q3 2024: 16%, 143 in both
  • Q4 2024: 15%, 156 in both
  • Q1 2025: 21%, 192 in both
  • Q2 2025: 26%, 174 in both
  • Q3 2025: 21%, 143 in both
  • Q4 2025: 29%, 156 in both
  • Q1 2026: 26%, 165 in both
  • Q2 2026: 30%, 171 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 LLPInvesco Ltd
Apple Inc(AAPL)7.3%Added4.3%Added
Nvidia Corp(NVDA)3.8%Trimmed5.2%Added
Microsoft Corp(MSFT)7.1%Trimmed3.0%Added
Amazon Com Inc(AMZN)6.0%Added2.7%Added
Alphabet Inc(GOOGL)2.5%Added2.6%Added
Advanced Micro Devices Inc(AMD)5.0%Trimmed2.4%Added
Lam Research Corp(LRCX)1.9%Added1.8%Added
SanDisk Corp(SNDK)1.6%New1.0%Added
Texas Instrs Inc(TXN)0.7%Added0.9%Added
Micron Technology Inc(MU)0.3%Trimmed3.3%Added
Bank of America Corporation(BAC)2.2%Added0.3%Trimmed
Intuit(INTU)0.2%Added0.2%Trimmed
Applied Matls Inc(AMAT)0.2%Added1.6%Added
Warner Bros Discovery Inc(WBD)9.7%Added0.2%Added
Electronic Arts Inc(EA)0.9%Trimmed0.1%Added
Fortinet Inc(FTNT)0.1%Added0.3%Trimmed
Take-two Interactive Softwar(TTWO)0.2%Added0.1%Added
Ge Vernova Inc(GEV)0.1%Trimmed0.2%Added
Amphenol Corp CL A(APH)0.1%Added0.1%Trimmed
Unitedhealth Group Inc(UNH)0.1%Added0.2%Added

and 151 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; Invesco Ltd added
  • Micron Technology Inc(MU)Caxton Associates LLP trimmed; Invesco Ltd added
  • Microsoft Corp(MSFT)Caxton Associates LLP trimmed; Invesco Ltd added
  • Advanced Micro Devices Inc(AMD)Caxton Associates LLP trimmed; Invesco Ltd added
  • Facebook Inc(META)Caxton Associates LLP sold out; Invesco Ltd added
  • Palantir Technologies Inc(PLTR)Caxton Associates LLP sold out; Invesco Ltd added
  • Analog Devices Inc(ADI)Caxton Associates LLP trimmed; Invesco Ltd added
  • Qualcomm Inc(QCOM)Caxton Associates LLP trimmed; Invesco Ltd added
  • JPMorgan Chase & Co(JPM)Caxton Associates LLP trimmed; Invesco Ltd added
  • Vertex Pharmaceuticals Inc(VRTX)Caxton Associates LLP sold out; Invesco Ltd added
  • Fortinet Inc(FTNT)Caxton Associates LLP added; Invesco Ltd trimmed
  • Bank of America Corporation(BAC)Caxton Associates LLP added; Invesco Ltd trimmed
Caxton Associates LLP: the recordInvesco Ltd: the record

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