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Invesco Ltd and Fidelity (FMR LLC): where the books meet

At Q2 2026, at least 53% of the two 13F books was the same, across 294 stocks both listed, against 42% 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%27%54%Q2 2013: 42%, 276 in bothQ3 2013: 42%, 274 in bothQ4 2013: 42%, 277 in bothQ1 2014: 41%, 273 in both14Q2 2014: 41%, 274 in bothQ3 2014: 41%, 276 in bothQ4 2014: 41%, 279 in bothQ1 2015: 41%, 282 in both15Q2 2015: 41%, 284 in bothQ3 2015: 41%, 272 in bothQ4 2015: 42%, 272 in bothQ1 2016: 41%, 272 in both16Q2 2016: 39%, 271 in bothQ3 2016: 38%, 261 in bothQ4 2016: 39%, 258 in bothQ1 2017: 40%, 263 in both17Q2 2017: 39%, 259 in bothQ3 2017: 44%, 265 in bothQ4 2017: 44%, 261 in bothQ1 2018: 45%, 258 in both18Q2 2018: 45%, 277 in bothQ3 2018: 46%, 280 in bothQ4 2018: 46%, 276 in bothQ1 2019: 45%, 273 in both19Q2 2019: 45%, 275 in bothQ3 2019: 45%, 272 in bothQ4 2019: 37%, 273 in bothQ1 2020: 39%, 277 in both20Q2 2020: 39%, 277 in bothQ3 2020: 39%, 272 in bothQ4 2020: 38%, 268 in bothQ1 2021: 38%, 267 in both21Q2 2021: 38%, 269 in bothQ3 2021: 39%, 274 in bothQ4 2021: 40%, 273 in bothQ1 2022: 42%, 279 in both22Q2 2022: 41%, 271 in bothQ3 2022: 42%, 285 in bothQ4 2022: 42%, 283 in bothQ1 2023: 44%, 288 in both23Q2 2023: 46%, 290 in bothQ3 2023: 44%, 282 in bothQ4 2023: 44%, 274 in bothQ1 2024: 45%, 278 in both24Q2 2024: 46%, 275 in bothQ3 2024: 47%, 278 in bothQ4 2024: 47%, 272 in bothQ1 2025: 47%, 281 in both25Q2 2025: 49%, 289 in bothQ3 2025: 50%, 288 in bothQ4 2025: 54%, 288 in bothQ1 2026: 53%, 294 in both26Q2 2026: 53%, 294 in both
  • Q2 2013: 42%, 276 in both
  • Q3 2013: 42%, 274 in both
  • Q4 2013: 42%, 277 in both
  • Q1 2014: 41%, 273 in both
  • Q2 2014: 41%, 274 in both
  • Q3 2014: 41%, 276 in both
  • Q4 2014: 41%, 279 in both
  • Q1 2015: 41%, 282 in both
  • Q2 2015: 41%, 284 in both
  • Q3 2015: 41%, 272 in both
  • Q4 2015: 42%, 272 in both
  • Q1 2016: 41%, 272 in both
  • Q2 2016: 39%, 271 in both
  • Q3 2016: 38%, 261 in both
  • Q4 2016: 39%, 258 in both
  • Q1 2017: 40%, 263 in both
  • Q2 2017: 39%, 259 in both
  • Q3 2017: 44%, 265 in both
  • Q4 2017: 44%, 261 in both
  • Q1 2018: 45%, 258 in both
  • Q2 2018: 45%, 277 in both
  • Q3 2018: 46%, 280 in both
  • Q4 2018: 46%, 276 in both
  • Q1 2019: 45%, 273 in both
  • Q2 2019: 45%, 275 in both
  • Q3 2019: 45%, 272 in both
  • Q4 2019: 37%, 273 in both
  • Q1 2020: 39%, 277 in both
  • Q2 2020: 39%, 277 in both
  • Q3 2020: 39%, 272 in both
  • Q4 2020: 38%, 268 in both
  • Q1 2021: 38%, 267 in both
  • Q2 2021: 38%, 269 in both
  • Q3 2021: 39%, 274 in both
  • Q4 2021: 40%, 273 in both
  • Q1 2022: 42%, 279 in both
  • Q2 2022: 41%, 271 in both
  • Q3 2022: 42%, 285 in both
  • Q4 2022: 42%, 283 in both
  • Q1 2023: 44%, 288 in both
  • Q2 2023: 46%, 290 in both
  • Q3 2023: 44%, 282 in both
  • Q4 2023: 44%, 274 in both
  • Q1 2024: 45%, 278 in both
  • Q2 2024: 46%, 275 in both
  • Q3 2024: 47%, 278 in both
  • Q4 2024: 47%, 272 in both
  • Q1 2025: 47%, 281 in both
  • Q2 2025: 49%, 289 in both
  • Q3 2025: 50%, 288 in both
  • Q4 2025: 54%, 288 in both
  • Q1 2026: 53%, 294 in both
  • Q2 2026: 53%, 294 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.

StockInvesco LtdFidelity (FMR LLC)
Nvidia Corp(NVDA)5.2%Added8.9%Added
Apple Inc(AAPL)4.3%Added4.1%Added
Microsoft Corp(MSFT)3.0%Added3.0%Trimmed
Amazon.com Inc(AMZN)2.7%Added3.8%Added
Alphabet Inc(GOOGL)2.6%Added3.9%Added
Broadcom Inc(AVGO)2.1%Trimmed2.4%Added
Alphabet Inc(GOOG)1.8%Added1.9%Added
Facebook Inc-a(META)1.7%Added2.3%Trimmed
Micron Technology Inc(MU)3.3%Added1.3%Trimmed
SanDisk Corp(SNDK)1.0%Added0.8%Trimmed
Tesla Motors Inc(TSLA)1.8%Added0.7%Added
Western Digital Corp(WDC)0.7%Added0.7%Trimmed
Marvell Technology Inc(MRVL)0.7%Added0.7%Trimmed
Advanced Micro Devices(AMD)2.4%Added0.6%Added
Lam Research Corp(LRCX)1.8%Added0.6%Added
Intel Corp(INTC)1.7%Added0.6%Added
Kla-tencor Corporation(KLAC)1.1%Added0.6%Added
Asml Holding Nv-ny Reg SHS ADR(ASML)0.5%Added0.5%Added
Netflix.com Inc(NFLX)0.8%Added0.4%Trimmed
Cisco Systems Inc(CSCO)1.3%Trimmed0.4%Added

and 274 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.

  • Microsoft Corp(MSFT)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Broadcom Inc(AVGO)Invesco Ltd trimmed; Fidelity (FMR LLC) added
  • Facebook Inc-a(META)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Micron Technology Inc(MU)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Ge Vernova Inc(GEV)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • SanDisk Corp(SNDK)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Marvell Technology Inc(MRVL)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Wal-mart Stores Inc(WMT)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Western Digital Corp(WDC)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Cisco Systems Inc(CSCO)Invesco Ltd trimmed; Fidelity (FMR LLC) added
  • Visa Inc-class A Shares(V)Invesco Ltd added; Fidelity (FMR LLC) trimmed
  • Costco Wholesale Corp(COST)Invesco Ltd added; Fidelity (FMR LLC) trimmed
Invesco Ltd: the recordFidelity (FMR LLC): the record

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