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Marshall Wace LLP and Fidelity (FMR LLC): where the books meet

At Q2 2026, at least 28% of the two 13F books was the same, across 207 stocks both listed, against 10% 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%17%34%Q2 2013: 10%, 49 in bothQ1 2014: 19%, 163 in both14Q2 2014: 21%, 177 in bothQ3 2014: 24%, 188 in bothQ4 2014: 22%, 181 in bothQ1 2015: 25%, 189 in both15Q2 2015: 26%, 197 in bothQ3 2015: 27%, 205 in bothQ4 2015: 28%, 209 in bothQ1 2016: 27%, 192 in both16Q2 2016: 25%, 186 in bothQ3 2016: 24%, 187 in bothQ4 2016: 27%, 199 in bothQ1 2017: 20%, 136 in both17Q2 2017: 19%, 125 in bothQ3 2017: 20%, 141 in bothQ4 2017: 24%, 153 in bothQ1 2018: 20%, 170 in both18Q2 2018: 21%, 190 in bothQ3 2018: 17%, 148 in bothQ4 2018: 17%, 134 in bothQ1 2019: 18%, 140 in both19Q2 2019: 19%, 149 in bothQ3 2019: 19%, 152 in bothQ4 2019: 20%, 159 in bothQ1 2020: 23%, 158 in both20Q2 2020: 24%, 177 in bothQ3 2020: 25%, 173 in bothQ4 2020: 23%, 178 in bothQ1 2021: 18%, 155 in both21Q2 2021: 20%, 146 in bothQ3 2021: 16%, 130 in bothQ4 2021: 30%, 173 in bothQ1 2022: 26%, 185 in both22Q2 2022: 27%, 172 in bothQ3 2022: 23%, 171 in bothQ4 2022: 25%, 160 in bothQ1 2023: 27%, 155 in both23Q2 2023: 29%, 161 in bothQ3 2023: 30%, 172 in bothQ4 2023: 29%, 162 in bothQ1 2024: 31%, 171 in both24Q2 2024: 34%, 183 in bothQ3 2024: 33%, 199 in bothQ4 2024: 34%, 197 in bothQ1 2025: 30%, 189 in both25Q2 2025: 33%, 209 in bothQ3 2025: 31%, 193 in bothQ4 2025: 31%, 217 in bothQ1 2026: 30%, 207 in both26Q2 2026: 28%, 207 in both
  • Q2 2013: 10%, 49 in both
  • Q1 2014: 19%, 163 in both
  • Q2 2014: 21%, 177 in both
  • Q3 2014: 24%, 188 in both
  • Q4 2014: 22%, 181 in both
  • Q1 2015: 25%, 189 in both
  • Q2 2015: 26%, 197 in both
  • Q3 2015: 27%, 205 in both
  • Q4 2015: 28%, 209 in both
  • Q1 2016: 27%, 192 in both
  • Q2 2016: 25%, 186 in both
  • Q3 2016: 24%, 187 in both
  • Q4 2016: 27%, 199 in both
  • Q1 2017: 20%, 136 in both
  • Q2 2017: 19%, 125 in both
  • Q3 2017: 20%, 141 in both
  • Q4 2017: 24%, 153 in both
  • Q1 2018: 20%, 170 in both
  • Q2 2018: 21%, 190 in both
  • Q3 2018: 17%, 148 in both
  • Q4 2018: 17%, 134 in both
  • Q1 2019: 18%, 140 in both
  • Q2 2019: 19%, 149 in both
  • Q3 2019: 19%, 152 in both
  • Q4 2019: 20%, 159 in both
  • Q1 2020: 23%, 158 in both
  • Q2 2020: 24%, 177 in both
  • Q3 2020: 25%, 173 in both
  • Q4 2020: 23%, 178 in both
  • Q1 2021: 18%, 155 in both
  • Q2 2021: 20%, 146 in both
  • Q3 2021: 16%, 130 in both
  • Q4 2021: 30%, 173 in both
  • Q1 2022: 26%, 185 in both
  • Q2 2022: 27%, 172 in both
  • Q3 2022: 23%, 171 in both
  • Q4 2022: 25%, 160 in both
  • Q1 2023: 27%, 155 in both
  • Q2 2023: 29%, 161 in both
  • Q3 2023: 30%, 172 in both
  • Q4 2023: 29%, 162 in both
  • Q1 2024: 31%, 171 in both
  • Q2 2024: 34%, 183 in both
  • Q3 2024: 33%, 199 in both
  • Q4 2024: 34%, 197 in both
  • Q1 2025: 30%, 189 in both
  • Q2 2025: 33%, 209 in both
  • Q3 2025: 31%, 193 in both
  • Q4 2025: 31%, 217 in both
  • Q1 2026: 30%, 207 in both
  • Q2 2026: 28%, 207 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.

StockMarshall Wace LLPFidelity (FMR LLC)
Apple Inc(AAPL)2.1%Added4.1%Added
Amazon.com Inc(AMZN)1.8%Added3.8%Added
Nvidia Corp(NVDA)1.4%Trimmed8.9%Added
Micron Tech(MU)1.2%Added1.3%Trimmed
Microsoft Corp(MSFT)1.0%Trimmed3.0%Trimmed
Tesla Motors(TSLA)0.7%Added0.7%Added
Taiwan Semic-adr(TSM)0.7%Trimmed1.2%Trimmed
Adv Micro Device(AMD)1.8%Added0.6%Added
Google Inc-a(GOOGL)0.6%Trimmed3.9%Added
Unitedhealth GRP(UNH)0.6%Added0.5%Added
Bank of America(BAC)0.6%Added0.5%Trimmed
Facebook Inc-a(META)0.4%Trimmed2.3%Trimmed
Coca-cola Co/the(KO)0.5%Added0.4%Added
SanDisk Corp(SNDK)0.4%Trimmed0.8%Trimmed
JP Morgan Chase(JPM)0.5%Added0.4%Trimmed
Broadcom Inc(AVGO)0.4%Trimmed2.4%Added
Exxon Mobil Corp(XOM)0.3%Added0.8%Trimmed
Cisco Systems(CSCO)0.3%Added0.4%Added
Eli Lilly & Co(LLY)0.3%Trimmed1.5%Added
Applied Material(AMAT)0.3%Trimmed0.3%Added

and 187 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)Marshall Wace LLP trimmed; Fidelity (FMR LLC) added
  • Google Inc-a(GOOGL)Marshall Wace LLP trimmed; Fidelity (FMR LLC) added
  • Broadcom Inc(AVGO)Marshall Wace LLP trimmed; Fidelity (FMR LLC) added
  • Alphabet Inc-c(GOOG)Marshall Wace LLP trimmed; Fidelity (FMR LLC) added
  • Eli Lilly & Co(LLY)Marshall Wace LLP trimmed; Fidelity (FMR LLC) added
  • Micron Tech(MU)Marshall Wace LLP added; Fidelity (FMR LLC) trimmed
  • iShares-s&p 500(IVV)Marshall Wace LLP added; Fidelity (FMR LLC) trimmed
  • Exxon Mobil Corp(XOM)Marshall Wace LLP added; Fidelity (FMR LLC) trimmed
  • Intel Corp(INTC)Marshall Wace LLP trimmed; Fidelity (FMR LLC) added
  • Wells Fargo & Co(WFC)Marshall Wace LLP added; Fidelity (FMR LLC) trimmed
  • Mastercard Inc-a(MA)Marshall Wace LLP added; Fidelity (FMR LLC) trimmed
  • Asml Holding-ny(ASML)Marshall Wace LLP trimmed; Fidelity (FMR LLC) added
Marshall Wace LLP: the recordFidelity (FMR LLC): the record

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