Eisler Capital Management Ltd and Squarepoint Ops LLC: where the books meet
At Q3 2025, at least 7.0% of the two 13F books was the same, across 56 stocks both listed, against 2.0% at Q1 2021. 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.
- Q1 2021: 2.0%, 21 in both
- Q2 2021: 1.3%, 17 in both
- Q3 2021: 3.3%, 31 in both
- Q4 2021: 2.2%, 25 in both
- Q1 2022: 4.1%, 43 in both
- Q2 2022: 2.2%, 20 in both
- Q3 2022: 2.8%, 43 in both
- Q4 2022: 3.1%, 18 in both
- Q1 2023: 4.6%, 48 in both
- Q2 2023: 3.7%, 60 in both
- Q3 2023: 8.1%, 75 in both
- Q4 2023: 4.4%, 75 in both
- Q1 2024: 3.2%, 73 in both
- Q2 2024: 1.0%, 42 in both
- Q3 2024: 0.9%, 43 in both
- Q4 2024: 5.5%, 52 in both
- Q1 2025: 11%, 76 in both
- Q2 2025: 7.3%, 55 in both
- Q3 2025: 7.0%, 56 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, Q3 2025
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.
| Stock | Eisler Capital Management Ltd | Squarepoint Ops LLC |
|---|---|---|
| iShares Trust(IVV) | 15%Added | 5.5%Added |
| Amazon Com Inc(AMZN) | under 0.1%Added | 1.0%Added |
| Procter and Gamble Co(PG) | under 0.1%Added | 0.2%Added |
| Adobe Systems Incorporated(ADBE) | under 0.1%Added | under 0.1%Trimmed |
| Microsoft Corp(MSFT) | under 0.1%Added | 0.9%Added |
| Salesforce Com Inc(CRM) | under 0.1%Added | 0.2%Added |
| PayPal HLDGS Inc(PYPL) | under 0.1%Trimmed | under 0.1%Added |
| Lilly Eli & Co(LLY) | under 0.1%Added | 0.3%Added |
| Coca Cola Co(KO) | under 0.1%Added | under 0.1%Trimmed |
| Schwab Charles Corp(SCHW) | under 0.1%Trimmed | under 0.1%Added |
| 3M Co(MMM) | under 0.1%Trimmed | 0.1%Added |
| Intuitive Surgical Inc(ISRG) | under 0.1%Added | 0.3%Added |
| General Dynamics Corp(GD) | under 0.1%Trimmed | under 0.1%Trimmed |
| Exxon Mobil Corp(XOM) | under 0.1%Trimmed | under 0.1%Added |
| Costco WHSL Corp New(COST) | under 0.1%Added | 0.2%Trimmed |
| Palantir Technologies Inc(PLTR) | under 0.1%Added | 0.3%Added |
| Texas Instrs Inc(TXN) | under 0.1%Added | 0.2%Added |
| Visa Inc(V) | under 0.1%Added | 0.4%Added |
| Union Pac Corp(UNP) | under 0.1%Trimmed | 0.1%Added |
| Berkshire Hathaway Inc Del(BRK-B) | under 0.1%Trimmed | 0.2%Trimmed |
and 36 smaller ones
Moved different ways in Q3 2025
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.
- Walmart Inc(WMT)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
- Pfizer Inc(PFE)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
- Intel Corp(INTC)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
- Morgan Stanley(MS)Eisler Capital Management Ltd added; Squarepoint Ops LLC trimmed
- Boeing Co(BA)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
- Costco WHSL Corp New(COST)Eisler Capital Management Ltd added; Squarepoint Ops LLC trimmed
- Lululemon Athletica Inc(LULU)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
- Intuit(INTU)Eisler Capital Management Ltd added; Squarepoint Ops LLC trimmed
- Keycorp(KEY)Eisler Capital Management Ltd sold out; Squarepoint Ops LLC added
- McDonald's Corp(MCD)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
- 3M Co(MMM)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
- Union Pac Corp(UNP)Eisler Capital Management Ltd trimmed; Squarepoint Ops LLC added
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