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← D. E. Shaw & Co., its record

D. E. Shaw & Co. and Neuberger Berman Group LLC: where the books meet

At Q2 2026, at least 27% of the two 13F books was the same, across 163 stocks both listed, against 20% 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%14%27%Q2 2013: 20%, 139 in bothQ3 2013: 16%, 122 in bothQ4 2013: 15%, 119 in bothQ1 2014: 17%, 129 in both14Q2 2014: 15%, 118 in bothQ3 2014: 14%, 113 in bothQ4 2014: 15%, 122 in bothQ1 2015: 17%, 135 in both15Q2 2015: 18%, 145 in bothQ3 2015: 18%, 143 in bothQ4 2015: 18%, 141 in bothQ1 2016: 20%, 143 in both16Q2 2016: 20%, 154 in bothQ3 2016: 20%, 146 in bothQ4 2016: 19%, 143 in bothQ1 2017: 22%, 153 in both17Q2 2017: 22%, 158 in bothQ3 2017: 21%, 146 in bothQ4 2017: 20%, 155 in bothQ1 2018: 20%, 161 in both18Q2 2018: 20%, 158 in bothQ3 2018: 19%, 157 in bothQ4 2018: 19%, 156 in bothQ1 2019: 21%, 146 in both19Q2 2019: 21%, 153 in bothQ3 2019: 21%, 155 in bothQ4 2019: 21%, 138 in bothQ1 2020: 25%, 151 in both20Q2 2020: 25%, 146 in bothQ3 2020: 23%, 142 in bothQ4 2020: 21%, 133 in bothQ1 2021: 23%, 142 in both21Q2 2021: 21%, 131 in bothQ3 2021: 19%, 122 in bothQ4 2021: 18%, 125 in bothQ1 2022: 20%, 137 in both22Q2 2022: 21%, 138 in bothQ3 2022: 21%, 139 in bothQ4 2022: 19%, 130 in bothQ1 2023: 21%, 140 in both23Q2 2023: 22%, 133 in bothQ3 2023: 23%, 136 in bothQ4 2023: 20%, 126 in bothQ1 2024: 25%, 151 in both24Q2 2024: 23%, 146 in bothQ3 2024: 23%, 143 in bothQ4 2024: 22%, 140 in bothQ1 2025: 23%, 147 in both25Q2 2025: 24%, 147 in bothQ3 2025: 24%, 140 in bothQ4 2025: 24%, 151 in bothQ1 2026: 27%, 157 in both26Q2 2026: 27%, 163 in both
  • Q2 2013: 20%, 139 in both
  • Q3 2013: 16%, 122 in both
  • Q4 2013: 15%, 119 in both
  • Q1 2014: 17%, 129 in both
  • Q2 2014: 15%, 118 in both
  • Q3 2014: 14%, 113 in both
  • Q4 2014: 15%, 122 in both
  • Q1 2015: 17%, 135 in both
  • Q2 2015: 18%, 145 in both
  • Q3 2015: 18%, 143 in both
  • Q4 2015: 18%, 141 in both
  • Q1 2016: 20%, 143 in both
  • Q2 2016: 20%, 154 in both
  • Q3 2016: 20%, 146 in both
  • Q4 2016: 19%, 143 in both
  • Q1 2017: 22%, 153 in both
  • Q2 2017: 22%, 158 in both
  • Q3 2017: 21%, 146 in both
  • Q4 2017: 20%, 155 in both
  • Q1 2018: 20%, 161 in both
  • Q2 2018: 20%, 158 in both
  • Q3 2018: 19%, 157 in both
  • Q4 2018: 19%, 156 in both
  • Q1 2019: 21%, 146 in both
  • Q2 2019: 21%, 153 in both
  • Q3 2019: 21%, 155 in both
  • Q4 2019: 21%, 138 in both
  • Q1 2020: 25%, 151 in both
  • Q2 2020: 25%, 146 in both
  • Q3 2020: 23%, 142 in both
  • Q4 2020: 21%, 133 in both
  • Q1 2021: 23%, 142 in both
  • Q2 2021: 21%, 131 in both
  • Q3 2021: 19%, 122 in both
  • Q4 2021: 18%, 125 in both
  • Q1 2022: 20%, 137 in both
  • Q2 2022: 21%, 138 in both
  • Q3 2022: 21%, 139 in both
  • Q4 2022: 19%, 130 in both
  • Q1 2023: 21%, 140 in both
  • Q2 2023: 22%, 133 in both
  • Q3 2023: 23%, 136 in both
  • Q4 2023: 20%, 126 in both
  • Q1 2024: 25%, 151 in both
  • Q2 2024: 23%, 146 in both
  • Q3 2024: 23%, 143 in both
  • Q4 2024: 22%, 140 in both
  • Q1 2025: 23%, 147 in both
  • Q2 2025: 24%, 147 in both
  • Q3 2025: 24%, 140 in both
  • Q4 2025: 24%, 151 in both
  • Q1 2026: 27%, 157 in both
  • Q2 2026: 27%, 163 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.Neuberger Berman Group LLC
Nvidia Corp(NVDA)1.9%Added4.1%Added
Alphabet Inc(GOOGL)1.3%Added2.4%Added
Amazon Com Inc(AMZN)1.2%Added3.1%Added
Alphabet Inc(GOOG)1.1%Added2.1%Added
Facebook Inc(META)0.9%Added0.9%Added
Apple Inc(AAPL)0.8%Trimmed3.3%Added
Home Depot Inc(HD)0.7%Added0.9%Trimmed
Microsoft Corp(MSFT)0.6%Trimmed2.6%Trimmed
Advanced Micro Devices Inc(AMD)0.9%Trimmed0.6%Trimmed
Intel Corp(INTC)0.6%Trimmed0.6%Trimmed
Broadcom Inc(AVGO)0.5%Trimmed1.0%Trimmed
Berkshire Hathaway Inc Del(BRK-B)0.5%Added0.6%Added
Mastercard Inc(MA)0.5%Added0.4%Trimmed
Micron Technology Inc(MU)0.4%Trimmed0.7%Trimmed
Visa Inc(V)0.4%Added0.7%Trimmed
Costco WHSL Corp New(COST)0.4%Trimmed0.5%Trimmed
87612g101(TRGP)0.3%Trimmed0.5%Trimmed
Crowdstrike HLDGS Inc(CRWD)0.8%Added0.3%Trimmed
SanDisk Corp(SNDK)0.6%Trimmed0.3%Trimmed
Lilly Eli & Co(LLY)0.3%Trimmed1.4%Trimmed

and 143 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; Neuberger Berman Group LLC added
  • JPMorgan Chase & Co(JPM)D. E. Shaw & Co. trimmed; Neuberger Berman Group LLC added
  • Tesla MTRS Inc(TSLA)D. E. Shaw & Co. trimmed; Neuberger Berman Group LLC added
  • Crowdstrike HLDGS Inc(CRWD)D. E. Shaw & Co. added; Neuberger Berman Group LLC trimmed
  • Home Depot Inc(HD)D. E. Shaw & Co. added; Neuberger Berman Group LLC trimmed
  • Western Digital Corp(WDC)D. E. Shaw & Co. trimmed; Neuberger Berman Group LLC added
  • General MTRS Co(GM)D. E. Shaw & Co. added; Neuberger Berman Group LLC trimmed
  • Boston Scientific Corp(BSX)D. E. Shaw & Co. added; Neuberger Berman Group LLC trimmed
  • Johnson & Johnson(JNJ)D. E. Shaw & Co. trimmed; Neuberger Berman Group LLC added
  • Visa Inc(V)D. E. Shaw & Co. added; Neuberger Berman Group LLC trimmed
  • Mastercard Inc(MA)D. E. Shaw & Co. added; Neuberger Berman Group LLC trimmed
  • Caterpillar Inc Del(CAT)D. E. Shaw & Co. added; Neuberger Berman Group LLC trimmed
D. E. Shaw & Co.: the recordNeuberger Berman Group LLC: the record

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