What Citadel Advisors LLC changed, 2015 to 2026
43 quarterly 13F filings, from Q4 2015 to Q2 2026, each read from the filing itself. A quarter is compared only with the quarter before it, so a quarter with no filing is a gap in the record, not a sale.
Reported book
$875bn
$91.6bn at Q4 2015
Positions
13,572
8,912 at Q4 2015
Top ten weight
23%
15% at Q4 2015
Typical quarterly turnover
about 18%
Estimated from share changes
- Q4 2015: $91.6bn
- Q1 2016: $79.3bn
- Q2 2016: $89.7bn
- Q3 2016: $99.5bn
- Q4 2016: $99.0bn
- Q1 2017: $109bn
- Q2 2017: $118bn
- Q3 2017: $130bn
- Q4 2017: $164bn
- Q1 2018: $184bn
- Q2 2018: $203bn
- Q3 2018: $224bn
- Q4 2018: $183bn
- Q1 2019: $201bn
- Q2 2019: $218bn
- Q3 2019: $212bn
- Q4 2019: $230bn
- Q1 2020: $222bn
- Q2 2020: $280bn
- Q3 2020: $353bn
- Q4 2020: $385bn
- Q1 2021: $408bn
- Q2 2021: $447bn
- Q3 2021: $481bn
- Q4 2021: $489bn
- Q1 2022: $484bn
- Q2 2022: $390bn
- Q3 2022: $439bn
- Q4 2022: $428bn
- Q1 2023: $455bn
- Q2 2023: $484bn
- Q3 2023: $467bn
- Q4 2023: $500bn
- Q1 2024: $518bn
- Q2 2024: $494bn
- Q3 2024: $518bn
- Q4 2024: $578bn
- Q1 2025: $527bn
- Q2 2025: $576bn
- Q3 2025: $657bn
- Q4 2025: $666bn
- Q1 2026: $618bn
- Q2 2026: $875bn
- Q4 2015: 15%
- Q1 2016: 19%
- Q2 2016: 23%
- Q3 2016: 22%
- Q4 2016: 21%
- Q1 2017: 19%
- Q2 2017: 17%
- Q3 2017: 17%
- Q4 2017: 19%
- Q1 2018: 29%
- Q2 2018: 24%
- Q3 2018: 25%
- Q4 2018: 24%
- Q1 2019: 24%
- Q2 2019: 23%
- Q3 2019: 20%
- Q4 2019: 23%
- Q1 2020: 32%
- Q2 2020: 32%
- Q3 2020: 36%
- Q4 2020: 31%
- Q1 2021: 28%
- Q2 2021: 27%
- Q3 2021: 29%
- Q4 2021: 29%
- Q1 2022: 32%
- Q2 2022: 28%
- Q3 2022: 34%
- Q4 2022: 28%
- Q1 2023: 33%
- Q2 2023: 36%
- Q3 2023: 33%
- Q4 2023: 31%
- Q1 2024: 30%
- Q2 2024: 29%
- Q3 2024: 30%
- Q4 2024: 31%
- Q1 2025: 32%
- Q2 2025: 27%
- Q3 2025: 25%
- Q4 2025: 23%
- Q1 2026: 22%
- Q2 2026: 23%
The positions that defined it
Every position that was ever among the 25 largest: when it first appeared, when it was largest, and where it stands in Q2 2026. The line is its reported value each quarter.
| Position | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Spdr S&P 500 Etf Trust(SPY) | Q3 2020 | $35.7bnQ2 2026 | $35.7bn | |
| Invesco QQQ Trust(QQQ) | Q3 2020 | $26.6bnQ3 2025 | $26.6bn | |
| Invesco QQQ Trust(QQQ) | Q3 2020 | $23.5bnQ2 2026 | $23.5bn | |
| Spdr S&P 500 Etf Trust(SPY) | Q3 2020 | $52.6bnQ2 2023 | $23.3bn | |
| Micron Technology Inc(MU) | Q3 2020 | $22.2bnQ2 2026 | $22.2bn | |
| Micron Technology Inc(MU) | Q3 2020 | $16.3bnQ2 2026 | $16.3bn | |
| Tesla MTRS Inc(TSLA) | Q3 2020 | $25.0bnQ4 2021 | $13.7bn | |
| iShares Core S&P500 ETF(IVV) | Q4 2020 | $13.2bnQ2 2026 | $13.2bn | |
| Nvidia Corp(NVDA) | Q3 2020 | $18.7bnQ1 2024 | $12.2bn | |
| SanDisk Corp(SNDK) | Q4 2025 | $11.7bnQ2 2026 | $11.7bn | |
| VanEck Vectors Semiconductor(SMH) | Q4 2021 | $11.6bnQ2 2026 | $11.6bn | |
| SanDisk Corp(SNDK) | Q4 2025 | $10.3bnQ2 2026 | $10.3bn | |
| Spdr S&P 500 Cmn(SPY) | Q3 2016 | $33.3bnQ3 2021 | Below the listed rangelast listed Q3 2021 | |
| Spdr S&P 500 Cmn(SPY) | Q3 2016 | $19.5bnQ2 2020 | Below the listed rangelast listed Q3 2021 | |
| Tesla MTRS Inc(TSLA)Cmn | Q3 2016 | $19.1bnQ3 2021 | Below the listed rangelast listed Q3 2021 | |
| Tesla MTRS Inc(TSLA)Cmn | Q3 2016 | $17.3bnQ3 2021 | Below the listed rangelast listed Q3 2021 | |
| Amazon Com Inc(AMZN)Cmn | Q3 2016 | $12.9bnQ3 2021 | Below the listed rangelast listed Q3 2021 | |
| Amazon Com Inc(AMZN)Cmn | Q3 2016 | $12.4bnQ3 2021 | Below the listed rangelast listed Q3 2021 | |
| Invesco QQQ Cmn(QQQ) | Q2 2018 | $10.3bnQ3 2021 | Below the listed rangelast listed Q3 2021 | |
| Spdr S&P 500 Cmn | Q4 2015 | $8.3bnQ2 2016 | Soldlast listed Q2 2016 |
Quarter by quarter
Q4 2022: $428bn across 14,813 positions
Against Q3 2022: 3,739 new, 5,191 added to, 5,812 trimmed, 1,113 sold out, across all 14,813 positions.
Turnover about 15% of the book, estimated from share changes at quarter-end prices.
Largest additions
- Spdr S&P 500 Etf Trust (SPY)+$4.8bn
- Netflix Inc (NFLX)+$839m
- SPDR Dow Jones Indl Avrg ETF (DIA)+$704m
- iShares Russell 2000 ETF (IWM)+$695m
- iShares MSCI Emerging Markets ETF (EEM)+$671m
- Facebook Inc (META)+$638m
- Netflix Inc (NFLX)+$564m
- Home Depot Inc (HD)+$560m
Largest reductions
- Spdr S&P 500 Etf Trust (SPY)-$15.7bn
- Invesco QQQ Trust (QQQ)-$2.5bn
- Amazon Com Inc (AMZN)-$2.3bn
- Invesco QQQ Trust (QQQ)-$2.2bn
- Amazon Com Inc (AMZN)-$1.8bn
- Apple Inc (AAPL)-$1.4bn
- Amazon Com Inc (AMZN)-$1.0bn
- iShares IBOXX High Yield ETF (HYG)-$713m
Opened
Nothing new among the largest positions.
Sold out
- Twitter Incwas $869m
- Atlassian Corp PLCwas $296m
- Duke Realty Corpwas $137m
- Continental Resources Incwas $79m
- Zendesk Incwas $72m
- KKR Acquisition Holding I Cowas $67m
- Terminix Global Holdings Incwas $62m
- Change Healthcare Incwas $60m
Largest positions, Q4 2022
The largest 25 of 14,813 reported positions; the largest 500 carry 75.2% of the reported value.
| Position | Value | Weight | On the quarter |
|---|---|---|---|
| Spdr S&P 500 Etf Trust (SPY) | $32.5bn | 7.6% | Trimmed |
| Spdr S&P 500 Etf Trust (SPY) | $30.6bn | 7.2% | Added |
| Invesco QQQ Trust (QQQ) | $10.6bn | 2.5% | Trimmed |
| Invesco QQQ Trust (QQQ) | $10.0bn | 2.3% | Trimmed |
| Tesla MTRS Inc (TSLA) | $8.9bn | 2.1% | Added |
| Tesla MTRS Inc (TSLA) | $6.0bn | 1.4% | Added |
| iShares Russell 2000 ETF (IWM) | $5.9bn | 1.4% | Trimmed |
| Microsoft Corp (MSFT) | $5.4bn | 1.3% | Trimmed |
| Apple Inc (AAPL) | $5.1bn | 1.2% | Trimmed |
| Amazon Com Inc (AMZN) | $4.6bn | 1.1% | Trimmed |
| Apple Inc (AAPL) | $4.4bn | 1.0% | Trimmed |
| iShares Russell 2000 ETF (IWM) | $4.1bn | 0.9% | Added |
| Microsoft Corp (MSFT) | $3.6bn | 0.8% | Added |
| Facebook Inc (META) | $3.0bn | 0.7% | Added |
| Amazon Com Inc (AMZN) | $2.8bn | 0.7% | Trimmed |
| Netflix Inc (NFLX) | $2.8bn | 0.6% | Added |
| iShares IBOXX High Yield ETF (HYG) | $2.8bn | 0.6% | Trimmed |
| Netflix Inc (NFLX) | $2.7bn | 0.6% | Added |
| Nvidia Corp (NVDA) | $2.6bn | 0.6% | Trimmed |
| Nvidia Corp (NVDA) | $2.6bn | 0.6% | Trimmed |
| Alphabet Inc (GOOGL) | $2.4bn | 0.6% | Trimmed |
| Alphabet Inc (GOOG) | $2.1bn | 0.5% | Added |
| Booking HLDGS Inc (BKNG) | $2.0bn | 0.5% | Added |
| Alphabet Inc (GOOG) | $2.0bn | 0.5% | Trimmed |
| Facebook Inc (META) | $1.9bn | 0.4% | Added |
The books most like this one
Among the managers whose filings are on file, at Q2 2026. Overlap is the share of the two books that is the same: for every stock both list, the smaller of its two weights, added up. Two books can overlap because both own the largest companies; it says nothing about whether the managers agree.
| Manager | Overlap | Stocks in both | Overlap over time | |
|---|---|---|---|---|
| Neuberger Berman Group LLC | at least 7.9% | 108 | Compare | |
| AllianceBernstein LP | at least 7.5% | 114 | Compare | |
| Squarepoint Ops LLC | at least 7.2% | 96 | Compare | |
| Millennium Management LLC | at least 7.2% | 99 | Compare | |
| Marshall Wace LLP | at least 7.2% | 95 | Compare | |
| Invesco Ltd | at least 7.0% | 123 | Compare | |
| Balyasny Asset Management LLC | at least 6.8% | 103 | Compare | |
| Schonfeld Strategic Advisors LLC | at least 6.7% | 96 | Compare |
“At least” where either manager has more positions than are read each quarter: a stock both hold below that range is not counted.
The filings behind it
Every quarter above is one 13F holdings report, with any amendment the filer made to it applied in the order it was filed. Where the reporting entity changed, each quarter keeps the filer that actually reported it.
| Quarter | Filer | Book | Amended | Filing |
|---|---|---|---|---|
| Q2 2026 | Citadel Advisors LLC | $875bn | 13F-HR | |
| Q1 2026 | Citadel Advisors LLC | $618bn | 13F-HR | |
| Q4 2025 | Citadel Advisors LLC | $666bn | 13F-HR | |
| Q3 2025 | Citadel Advisors LLC | $657bn | 13F-HR | |
| Q2 2025 | Citadel Advisors LLC | $576bn | 13F-HR | |
| Q1 2025 | Citadel Advisors LLC | $527bn | 13F-HR | |
| Q4 2024 | Citadel Advisors LLC | $578bn | 13F-HR | |
| Q3 2024 | Citadel Advisors LLC | $518bn | 13F-HR | |
| Q2 2024 | Citadel Advisors LLC | $494bn | 13F-HR | |
| Q1 2024 | Citadel Advisors LLC | $518bn | 13F-HR | |
| Q4 2023 | Citadel Advisors LLC | $500bn | 13F-HR | |
| Q3 2023 | Citadel Advisors LLC | $467bn | 13F-HR | |
| Q2 2023 | Citadel Advisors LLC | $484bn | 13F-HR | |
| Q1 2023 | Citadel Advisors LLC | $455bn | 13F-HR | |
| Q4 2022 | Citadel Advisors LLC | $428bn | 13F-HR | |
| Q3 2022 | Citadel Advisors LLC | $439bn | 13F-HR | |
| Q2 2022 | Citadel Advisors LLC | $390bn | 13F-HR | |
| Q1 2022 | Citadel Advisors LLC | $484bn | 13F-HR | |
| Q4 2021 | Citadel Advisors LLC | $489bn | 13F-HR | |
| Q3 2021 | Citadel Advisors LLC | $481bn | 1 | 13F-HR |
| Q2 2021 | Citadel Advisors LLC | $447bn | 13F-HR | |
| Q1 2021 | Citadel Advisors LLC | $408bn | 1 | 13F-HR |
| Q4 2020 | Citadel Advisors LLC | $385bn | 13F-HR | |
| Q3 2020 | Citadel Advisors LLC | $353bn | 13F-HR | |
| Q2 2020 | Citadel Advisors LLC | $280bn | 13F-HR | |
| Q1 2020 | Citadel Advisors LLC | $222bn | 13F-HR | |
| Q4 2019 | Citadel Advisors LLC | $230bn | 13F-HR | |
| Q3 2019 | Citadel Advisors LLC | $212bn | 13F-HR | |
| Q2 2019 | Citadel Advisors LLC | $218bn | 2 | 13F-HR |
| Q1 2019 | Citadel Advisors LLC | $201bn | 13F-HR | |
| Q4 2018 | Citadel Advisors LLC | $183bn | 3 | 13F-HR |
| Q3 2018 | Citadel Advisors LLC | $224bn | 2 | 13F-HR |
| Q2 2018 | Citadel Advisors LLC | $203bn | 4 | 13F-HR |
| Q1 2018 | Citadel Advisors LLC | $184bn | 3 | 13F-HR |
| Q4 2017 | Citadel Advisors LLC | $164bn | 13F-HR | |
| Q3 2017 | Citadel Advisors LLC | $130bn | 13F-HR | |
| Q2 2017 | Citadel Advisors LLC | $118bn | 13F-HR | |
| Q1 2017 | Citadel Advisors LLC | $109bn | 13F-HR | |
| Q4 2016 | Citadel Advisors LLC | $99.0bn | 13F-HR | |
| Q3 2016 | Citadel Advisors LLC | $99.5bn | 13F-HR | |
| Q2 2016 | Citadel Advisors LLC | $89.7bn | 13F-HR | |
| Q1 2016 | Citadel Advisors LLC | $79.3bn | 13F-HR | |
| Q4 2015 | Citadel Advisors LLC | $91.6bn | 13F-HR |
Reading this record
A 13F lists US-listed long equity and options at the quarter end, filed up to 45 days later. It shows what was held, not when it was bought or at what price, and nothing short. Where a quarter lists only the largest positions, a name missing from it may still be held below that range; the counts of what was opened and sold always cover the whole filing.
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