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← Holocene Advisors LP, its record

Holocene Advisors LP and Janus Henderson Group Ltd: where the books meet

At Q2 2026, at least 29% of the two 13F books was the same, across 171 stocks both listed, against 15% at Q4 2017. 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%33%Q4 2017: 15%, 139 in bothQ1 2018: 17%, 149 in both18Q2 2018: 17%, 139 in bothQ3 2018: 18%, 123 in bothQ4 2018: 17%, 141 in bothQ1 2019: 18%, 141 in both19Q2 2019: 18%, 161 in bothQ3 2019: 19%, 142 in bothQ4 2019: 17%, 145 in bothQ1 2020: 22%, 147 in both20Q2 2020: 19%, 166 in bothQ3 2020: 16%, 152 in bothQ4 2020: 16%, 150 in bothQ1 2021: 25%, 171 in both21Q2 2021: 17%, 150 in bothQ3 2021: 19%, 167 in bothQ4 2021: 19%, 158 in bothQ1 2022: 20%, 150 in both22Q2 2022: 20%, 149 in bothQ3 2022: 23%, 154 in bothQ4 2022: 20%, 148 in bothQ1 2023: 20%, 151 in both23Q2 2023: 25%, 160 in bothQ3 2023: 26%, 172 in bothQ4 2023: 21%, 163 in bothQ1 2024: 23%, 155 in both24Q2 2024: 22%, 164 in bothQ3 2024: 23%, 169 in bothQ4 2024: 33%, 198 in bothQ1 2025: 29%, 184 in both25Q2 2025: 31%, 173 in bothQ3 2025: 32%, 178 in bothQ4 2025: 29%, 177 in bothQ1 2026: 29%, 165 in both26Q2 2026: 29%, 171 in both
  • Q4 2017: 15%, 139 in both
  • Q1 2018: 17%, 149 in both
  • Q2 2018: 17%, 139 in both
  • Q3 2018: 18%, 123 in both
  • Q4 2018: 17%, 141 in both
  • Q1 2019: 18%, 141 in both
  • Q2 2019: 18%, 161 in both
  • Q3 2019: 19%, 142 in both
  • Q4 2019: 17%, 145 in both
  • Q1 2020: 22%, 147 in both
  • Q2 2020: 19%, 166 in both
  • Q3 2020: 16%, 152 in both
  • Q4 2020: 16%, 150 in both
  • Q1 2021: 25%, 171 in both
  • Q2 2021: 17%, 150 in both
  • Q3 2021: 19%, 167 in both
  • Q4 2021: 19%, 158 in both
  • Q1 2022: 20%, 150 in both
  • Q2 2022: 20%, 149 in both
  • Q3 2022: 23%, 154 in both
  • Q4 2022: 20%, 148 in both
  • Q1 2023: 20%, 151 in both
  • Q2 2023: 25%, 160 in both
  • Q3 2023: 26%, 172 in both
  • Q4 2023: 21%, 163 in both
  • Q1 2024: 23%, 155 in both
  • Q2 2024: 22%, 164 in both
  • Q3 2024: 23%, 169 in both
  • Q4 2024: 33%, 198 in both
  • Q1 2025: 29%, 184 in both
  • Q2 2025: 31%, 173 in both
  • Q3 2025: 32%, 178 in both
  • Q4 2025: 29%, 177 in both
  • Q1 2026: 29%, 165 in both
  • Q2 2026: 29%, 171 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.

StockHolocene Advisors LPJanus Henderson Group Ltd
Microsoft Corp(MSFT)3.6%Added2.8%Trimmed
Nvidia Corp(NVDA)2.7%Trimmed6.6%Trimmed
Amazon Com Inc(AMZN)7.5%Added2.4%Trimmed
Astrazeneca PLC(AZN)1.0%Trimmed0.9%Trimmed
Advanced Micro Devices Inc(AMD)1.6%Added0.8%Added
Kla-tencor Corp(KLAC)0.7%New1.4%Added
Ferguson Enterprises Inc(FERG)0.7%Added0.7%Added
Seagate Technology Hldngs PL(STX)1.0%Trimmed0.6%Added
Applied Matls Inc(AMAT)0.6%Trimmed0.6%Added
Danaher Corp Del(DHR)1.5%Trimmed0.6%Added
Visa Inc(V)1.5%Trimmed0.6%Trimmed
Revolution Medicines Inc(RVMD)0.6%Trimmed0.8%Added
Ge Vernova Inc(GEV)0.6%Trimmed1.0%Added
Flex LTD(FLEX)0.5%Added0.9%Trimmed
General Electric Co(GE)1.7%Added0.5%Added
Lilly Eli & Co(LLY)0.5%Trimmed1.9%Trimmed
Alphabet Inc(GOOGL)0.7%Trimmed0.4%Trimmed
Lam Research Corp(LRCX)0.3%Added1.7%Added
Intuitive Surgical Inc(ISRG)0.7%Trimmed0.3%Added
Morgan Stanley(MS)0.5%Added0.3%Trimmed

and 151 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.

  • Broadcom Inc(AVGO)Holocene Advisors LP sold out; Janus Henderson Group Ltd added
  • Microsoft Corp(MSFT)Holocene Advisors LP added; Janus Henderson Group Ltd trimmed
  • Amazon Com Inc(AMZN)Holocene Advisors LP added; Janus Henderson Group Ltd trimmed
  • Taiwan Semiconductor MFG LTD(TSM)Holocene Advisors LP trimmed; Janus Henderson Group Ltd added
  • Micron Technology Inc(MU)Holocene Advisors LP started; Janus Henderson Group Ltd trimmed
  • Ge Vernova Inc(GEV)Holocene Advisors LP trimmed; Janus Henderson Group Ltd added
  • Flex LTD(FLEX)Holocene Advisors LP added; Janus Henderson Group Ltd trimmed
  • Howmet Aerospace Inc(HWM)Holocene Advisors LP added; Janus Henderson Group Ltd trimmed
  • Revolution Medicines Inc(RVMD)Holocene Advisors LP trimmed; Janus Henderson Group Ltd added
  • Johnson & Johnson(JNJ)Holocene Advisors LP started; Janus Henderson Group Ltd trimmed
  • Datadog Inc(DDOG)Holocene Advisors LP started; Janus Henderson Group Ltd trimmed
  • Lumentum HLDGS Inc(LITE)Holocene Advisors LP trimmed; Janus Henderson Group Ltd added
Holocene Advisors LP: the recordJanus Henderson Group Ltd: the record

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