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← Fidelity (FMR LLC), its record

Fidelity (FMR LLC) and Janus Henderson Group Ltd: where the books meet

At Q2 2026, at least 47% of the two 13F books was the same, across 217 stocks both listed, against 37% 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%24%49%Q2 2013: 37%, 289 in bothQ3 2013: 38%, 285 in bothQ4 2013: 38%, 285 in bothQ1 2014: 39%, 284 in both14Q2 2014: 40%, 288 in bothQ3 2014: 40%, 298 in bothQ4 2014: 38%, 269 in bothQ1 2015: 36%, 264 in both15Q2 2015: 35%, 264 in bothQ3 2015: 35%, 268 in bothQ4 2015: 38%, 274 in bothQ1 2016: 37%, 262 in both16Q2 2016: 36%, 271 in bothQ3 2016: 37%, 268 in bothQ4 2016: 36%, 255 in bothQ1 2017: 36%, 257 in both17Q2 2017: 40%, 252 in bothQ3 2017: 41%, 246 in bothQ4 2017: 39%, 231 in bothQ1 2018: 40%, 238 in both18Q2 2018: 41%, 239 in bothQ3 2018: 41%, 240 in bothQ4 2018: 42%, 249 in bothQ1 2019: 43%, 251 in both19Q2 2019: 42%, 251 in bothQ3 2019: 43%, 252 in bothQ4 2019: 44%, 243 in bothQ1 2020: 48%, 250 in both20Q2 2020: 47%, 246 in bothQ3 2020: 48%, 245 in bothQ4 2020: 45%, 234 in bothQ1 2021: 44%, 228 in both21Q2 2021: 45%, 233 in bothQ3 2021: 45%, 238 in bothQ4 2021: 47%, 233 in bothQ1 2022: 45%, 235 in both22Q2 2022: 42%, 223 in bothQ3 2022: 41%, 220 in bothQ4 2022: 40%, 217 in bothQ1 2023: 42%, 221 in both23Q2 2023: 44%, 223 in bothQ3 2023: 45%, 217 in bothQ4 2023: 46%, 205 in bothQ1 2024: 47%, 213 in both24Q2 2024: 49%, 219 in bothQ3 2024: 48%, 213 in bothQ4 2024: 48%, 215 in bothQ1 2025: 46%, 215 in both25Q2 2025: 49%, 223 in bothQ3 2025: 49%, 219 in bothQ4 2025: 48%, 216 in bothQ1 2026: 47%, 220 in both26Q2 2026: 47%, 217 in both
  • Q2 2013: 37%, 289 in both
  • Q3 2013: 38%, 285 in both
  • Q4 2013: 38%, 285 in both
  • Q1 2014: 39%, 284 in both
  • Q2 2014: 40%, 288 in both
  • Q3 2014: 40%, 298 in both
  • Q4 2014: 38%, 269 in both
  • Q1 2015: 36%, 264 in both
  • Q2 2015: 35%, 264 in both
  • Q3 2015: 35%, 268 in both
  • Q4 2015: 38%, 274 in both
  • Q1 2016: 37%, 262 in both
  • Q2 2016: 36%, 271 in both
  • Q3 2016: 37%, 268 in both
  • Q4 2016: 36%, 255 in both
  • Q1 2017: 36%, 257 in both
  • Q2 2017: 40%, 252 in both
  • Q3 2017: 41%, 246 in both
  • Q4 2017: 39%, 231 in both
  • Q1 2018: 40%, 238 in both
  • Q2 2018: 41%, 239 in both
  • Q3 2018: 41%, 240 in both
  • Q4 2018: 42%, 249 in both
  • Q1 2019: 43%, 251 in both
  • Q2 2019: 42%, 251 in both
  • Q3 2019: 43%, 252 in both
  • Q4 2019: 44%, 243 in both
  • Q1 2020: 48%, 250 in both
  • Q2 2020: 47%, 246 in both
  • Q3 2020: 48%, 245 in both
  • Q4 2020: 45%, 234 in both
  • Q1 2021: 44%, 228 in both
  • Q2 2021: 45%, 233 in both
  • Q3 2021: 45%, 238 in both
  • Q4 2021: 47%, 233 in both
  • Q1 2022: 45%, 235 in both
  • Q2 2022: 42%, 223 in both
  • Q3 2022: 41%, 220 in both
  • Q4 2022: 40%, 217 in both
  • Q1 2023: 42%, 221 in both
  • Q2 2023: 44%, 223 in both
  • Q3 2023: 45%, 217 in both
  • Q4 2023: 46%, 205 in both
  • Q1 2024: 47%, 213 in both
  • Q2 2024: 49%, 219 in both
  • Q3 2024: 48%, 213 in both
  • Q4 2024: 48%, 215 in both
  • Q1 2025: 46%, 215 in both
  • Q2 2025: 49%, 223 in both
  • Q3 2025: 49%, 219 in both
  • Q4 2025: 48%, 216 in both
  • Q1 2026: 47%, 220 in both
  • Q2 2026: 47%, 217 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.

StockFidelity (FMR LLC)Janus Henderson Group Ltd
Nvidia Corp(NVDA)8.9%Added6.6%Trimmed
Microsoft Corp(MSFT)3.0%Trimmed2.8%Trimmed
Amazon Com Inc(AMZN)3.8%Added2.4%Trimmed
Broadcom Inc(AVGO)2.4%Added3.0%Added
Apple Inc(AAPL)4.1%Added2.2%Trimmed
Alphabet Inc(GOOG)1.9%Added4.3%Added
Lilly Eli & Co(LLY)1.5%Added1.9%Trimmed
Micron Technology Inc(MU)1.3%Trimmed1.4%Trimmed
Taiwan Semiconductor MFG LTD(TSM)1.2%Trimmed1.6%Added
Facebook Inc(META)2.3%Trimmed1.2%Trimmed
Ge Vernova LLC(GEV)0.8%Trimmed1.0%Added
Space Exploration Techn Corp(SPCX)2.2%New0.8%New
Advanced Micro Devices Inc(AMD)0.6%Added0.8%Added
Lam Research Corp(LRCX)0.6%Added1.7%Added
Visa Inc(V)0.6%Trimmed0.6%Trimmed
Kla-tencor Corp(KLAC)0.6%Added1.4%Added
Amphenol Corp New(APH)0.5%Trimmed0.7%Trimmed
Mastercard Inc(MA)0.5%Trimmed0.8%Trimmed
General Electric Co(GE)0.8%Trimmed0.5%Added
Unitedhealth Group Inc(UNH)0.5%Added0.8%Added

and 197 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)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
  • Apple Inc(AAPL)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
  • Alphabet Inc(GOOGL)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
  • Amazon Com Inc(AMZN)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
  • Lilly Eli & Co(LLY)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
  • Taiwan Semiconductor MFG LTD(TSM)Fidelity (FMR LLC) trimmed; Janus Henderson Group Ltd added
  • Ge Vernova LLC(GEV)Fidelity (FMR LLC) trimmed; Janus Henderson Group Ltd added
  • General Electric Co(GE)Fidelity (FMR LLC) trimmed; Janus Henderson Group Ltd added
  • Tesla MTRS Inc(TSLA)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
  • Intel Corp(INTC)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
  • Bank of America Corporation(BAC)Fidelity (FMR LLC) trimmed; Janus Henderson Group Ltd added
  • Cisco Sys Inc(CSCO)Fidelity (FMR LLC) added; Janus Henderson Group Ltd trimmed
Fidelity (FMR LLC): the recordJanus Henderson Group Ltd: the record

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