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← D. E. Shaw & Co., its record

D. E. Shaw & Co. and Invesco Ltd: where the books meet

At Q2 2026, at least 28% of the two 13F books was the same, across 195 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%16%32%Q2 2013: 26%, 174 in bothQ3 2013: 21%, 156 in bothQ4 2013: 21%, 167 in bothQ1 2014: 22%, 183 in both14Q2 2014: 20%, 160 in bothQ3 2014: 21%, 159 in bothQ4 2014: 20%, 157 in bothQ1 2015: 23%, 180 in both15Q2 2015: 22%, 183 in bothQ3 2015: 24%, 189 in bothQ4 2015: 24%, 190 in bothQ1 2016: 25%, 181 in both16Q2 2016: 24%, 180 in bothQ3 2016: 22%, 171 in bothQ4 2016: 22%, 169 in bothQ1 2017: 24%, 170 in both17Q2 2017: 22%, 173 in bothQ3 2017: 25%, 169 in bothQ4 2017: 25%, 174 in bothQ1 2018: 26%, 189 in both18Q2 2018: 26%, 186 in bothQ3 2018: 27%, 189 in bothQ4 2018: 28%, 205 in bothQ1 2019: 28%, 200 in both19Q2 2019: 28%, 198 in bothQ3 2019: 29%, 196 in bothQ4 2019: 25%, 172 in bothQ1 2020: 32%, 194 in both20Q2 2020: 28%, 176 in bothQ3 2020: 28%, 169 in bothQ4 2020: 25%, 158 in bothQ1 2021: 25%, 165 in both21Q2 2021: 24%, 161 in bothQ3 2021: 23%, 165 in bothQ4 2021: 22%, 155 in bothQ1 2022: 22%, 165 in both22Q2 2022: 23%, 160 in bothQ3 2022: 23%, 161 in bothQ4 2022: 22%, 147 in bothQ1 2023: 24%, 164 in both23Q2 2023: 26%, 165 in bothQ3 2023: 26%, 171 in bothQ4 2023: 24%, 151 in bothQ1 2024: 28%, 185 in both24Q2 2024: 28%, 178 in bothQ3 2024: 26%, 172 in bothQ4 2024: 25%, 171 in bothQ1 2025: 27%, 180 in both25Q2 2025: 27%, 174 in bothQ3 2025: 27%, 163 in bothQ4 2025: 27%, 175 in bothQ1 2026: 28%, 181 in both26Q2 2026: 28%, 195 in both
  • Q2 2013: 26%, 174 in both
  • Q3 2013: 21%, 156 in both
  • Q4 2013: 21%, 167 in both
  • Q1 2014: 22%, 183 in both
  • Q2 2014: 20%, 160 in both
  • Q3 2014: 21%, 159 in both
  • Q4 2014: 20%, 157 in both
  • Q1 2015: 23%, 180 in both
  • Q2 2015: 22%, 183 in both
  • Q3 2015: 24%, 189 in both
  • Q4 2015: 24%, 190 in both
  • Q1 2016: 25%, 181 in both
  • Q2 2016: 24%, 180 in both
  • Q3 2016: 22%, 171 in both
  • Q4 2016: 22%, 169 in both
  • Q1 2017: 24%, 170 in both
  • Q2 2017: 22%, 173 in both
  • Q3 2017: 25%, 169 in both
  • Q4 2017: 25%, 174 in both
  • Q1 2018: 26%, 189 in both
  • Q2 2018: 26%, 186 in both
  • Q3 2018: 27%, 189 in both
  • Q4 2018: 28%, 205 in both
  • Q1 2019: 28%, 200 in both
  • Q2 2019: 28%, 198 in both
  • Q3 2019: 29%, 196 in both
  • Q4 2019: 25%, 172 in both
  • Q1 2020: 32%, 194 in both
  • Q2 2020: 28%, 176 in both
  • Q3 2020: 28%, 169 in both
  • Q4 2020: 25%, 158 in both
  • Q1 2021: 25%, 165 in both
  • Q2 2021: 24%, 161 in both
  • Q3 2021: 23%, 165 in both
  • Q4 2021: 22%, 155 in both
  • Q1 2022: 22%, 165 in both
  • Q2 2022: 23%, 160 in both
  • Q3 2022: 23%, 161 in both
  • Q4 2022: 22%, 147 in both
  • Q1 2023: 24%, 164 in both
  • Q2 2023: 26%, 165 in both
  • Q3 2023: 26%, 171 in both
  • Q4 2023: 24%, 151 in both
  • Q1 2024: 28%, 185 in both
  • Q2 2024: 28%, 178 in both
  • Q3 2024: 26%, 172 in both
  • Q4 2024: 25%, 171 in both
  • Q1 2025: 27%, 180 in both
  • Q2 2025: 27%, 174 in both
  • Q3 2025: 27%, 163 in both
  • Q4 2025: 27%, 175 in both
  • Q1 2026: 28%, 181 in both
  • Q2 2026: 28%, 195 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.

StockD. E. Shaw & Co.Invesco Ltd
Nvidia Corp(NVDA)1.9%Added5.2%Added
Alphabet Inc(GOOGL)1.3%Added2.6%Added
Amazon Com Inc(AMZN)1.2%Added2.7%Added
Alphabet Inc(GOOG)1.1%Added1.8%Added
Facebook Inc(META)0.9%Added1.7%Added
Tesla MTRS Inc(TSLA)0.9%Trimmed1.8%Added
Advanced Micro Devices Inc(AMD)0.9%Trimmed2.4%Added
Apple Inc(AAPL)0.8%Trimmed4.3%Added
Microsoft Corp(MSFT)0.6%Trimmed3.0%Added
SanDisk Corp(SNDK)0.6%Trimmed1.0%Added
Western Digital Corp(WDC)0.6%Trimmed0.7%Added
Seagate Technology Hldngs PL(STX)0.6%Added0.6%Added
Intel Corp(INTC)0.6%Trimmed1.7%Added
Crowdstrike HLDGS Inc(CRWD)0.8%Added0.5%Added
Broadcom Inc(AVGO)0.5%Trimmed2.1%Trimmed
Micron Technology Inc(MU)0.4%Trimmed3.3%Added
Costco WHSL Corp New(COST)0.4%Trimmed1.0%Added
Marvell Technology Inc(MRVL)0.4%Added0.7%Added
Fortinet Inc(FTNT)0.4%Added0.3%Trimmed
Lilly Eli & Co(LLY)0.3%Trimmed0.4%Added

and 175 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)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Micron Technology Inc(MU)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Microsoft Corp(MSFT)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Advanced Micro Devices Inc(AMD)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Tesla MTRS Inc(TSLA)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Lam Research Corp(LRCX)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Intel Corp(INTC)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Applied Matls Inc(AMAT)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Cisco Sys Inc(CSCO)D. E. Shaw & Co. added; Invesco Ltd trimmed
  • Costco WHSL Corp New(COST)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • SanDisk Corp(SNDK)D. E. Shaw & Co. trimmed; Invesco Ltd added
  • Texas Instrs Inc(TXN)D. E. Shaw & Co. trimmed; Invesco Ltd added
D. E. Shaw & Co.: the recordInvesco Ltd: the record

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