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Marshall Wace LLP and Invesco Ltd: where the books meet

At Q2 2026, at least 30% of the two 13F books was the same, across 218 stocks both listed, against 8.9% 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%18%36%Q2 2013: 8.9%, 43 in bothQ1 2014: 17%, 152 in both14Q2 2014: 19%, 165 in bothQ3 2014: 23%, 174 in bothQ4 2014: 19%, 158 in bothQ1 2015: 22%, 174 in both15Q2 2015: 25%, 185 in bothQ3 2015: 23%, 175 in bothQ4 2015: 25%, 195 in bothQ1 2016: 23%, 175 in both16Q2 2016: 18%, 165 in bothQ3 2016: 19%, 171 in bothQ4 2016: 22%, 182 in bothQ1 2017: 17%, 127 in both17Q2 2017: 17%, 130 in bothQ3 2017: 20%, 146 in bothQ4 2017: 22%, 157 in bothQ1 2018: 18%, 155 in both18Q2 2018: 21%, 193 in bothQ3 2018: 16%, 143 in bothQ4 2018: 16%, 135 in bothQ1 2019: 18%, 146 in both19Q2 2019: 19%, 151 in bothQ3 2019: 19%, 155 in bothQ4 2019: 19%, 150 in bothQ1 2020: 22%, 160 in both20Q2 2020: 27%, 186 in bothQ3 2020: 25%, 170 in bothQ4 2020: 22%, 161 in bothQ1 2021: 20%, 163 in both21Q2 2021: 20%, 161 in bothQ3 2021: 17%, 135 in bothQ4 2021: 30%, 189 in bothQ1 2022: 28%, 189 in both22Q2 2022: 28%, 176 in bothQ3 2022: 27%, 189 in bothQ4 2022: 27%, 174 in bothQ1 2023: 28%, 172 in both23Q2 2023: 31%, 176 in bothQ3 2023: 30%, 179 in bothQ4 2023: 29%, 177 in bothQ1 2024: 30%, 182 in both24Q2 2024: 34%, 191 in bothQ3 2024: 34%, 206 in bothQ4 2024: 35%, 219 in bothQ1 2025: 34%, 218 in both25Q2 2025: 36%, 224 in bothQ3 2025: 35%, 214 in bothQ4 2025: 32%, 224 in bothQ1 2026: 32%, 218 in both26Q2 2026: 30%, 218 in both
  • Q2 2013: 8.9%, 43 in both
  • Q1 2014: 17%, 152 in both
  • Q2 2014: 19%, 165 in both
  • Q3 2014: 23%, 174 in both
  • Q4 2014: 19%, 158 in both
  • Q1 2015: 22%, 174 in both
  • Q2 2015: 25%, 185 in both
  • Q3 2015: 23%, 175 in both
  • Q4 2015: 25%, 195 in both
  • Q1 2016: 23%, 175 in both
  • Q2 2016: 18%, 165 in both
  • Q3 2016: 19%, 171 in both
  • Q4 2016: 22%, 182 in both
  • Q1 2017: 17%, 127 in both
  • Q2 2017: 17%, 130 in both
  • Q3 2017: 20%, 146 in both
  • Q4 2017: 22%, 157 in both
  • Q1 2018: 18%, 155 in both
  • Q2 2018: 21%, 193 in both
  • Q3 2018: 16%, 143 in both
  • Q4 2018: 16%, 135 in both
  • Q1 2019: 18%, 146 in both
  • Q2 2019: 19%, 151 in both
  • Q3 2019: 19%, 155 in both
  • Q4 2019: 19%, 150 in both
  • Q1 2020: 22%, 160 in both
  • Q2 2020: 27%, 186 in both
  • Q3 2020: 25%, 170 in both
  • Q4 2020: 22%, 161 in both
  • Q1 2021: 20%, 163 in both
  • Q2 2021: 20%, 161 in both
  • Q3 2021: 17%, 135 in both
  • Q4 2021: 30%, 189 in both
  • Q1 2022: 28%, 189 in both
  • Q2 2022: 28%, 176 in both
  • Q3 2022: 27%, 189 in both
  • Q4 2022: 27%, 174 in both
  • Q1 2023: 28%, 172 in both
  • Q2 2023: 31%, 176 in both
  • Q3 2023: 30%, 179 in both
  • Q4 2023: 29%, 177 in both
  • Q1 2024: 30%, 182 in both
  • Q2 2024: 34%, 191 in both
  • Q3 2024: 34%, 206 in both
  • Q4 2024: 35%, 219 in both
  • Q1 2025: 34%, 218 in both
  • Q2 2025: 36%, 224 in both
  • Q3 2025: 35%, 214 in both
  • Q4 2025: 32%, 224 in both
  • Q1 2026: 32%, 218 in both
  • Q2 2026: 30%, 218 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 LLPInvesco Ltd
Apple Inc(AAPL)2.1%Added4.3%Added
Amazon.com Inc(AMZN)1.8%Added2.7%Added
Adv Micro Device(AMD)1.8%Added2.4%Added
Nvidia Corp(NVDA)1.4%Trimmed5.2%Added
Micron Tech(MU)1.2%Added3.3%Added
Microsoft Corp(MSFT)1.0%Trimmed3.0%Added
Costco Wholesale(COST)0.9%Added1.0%Added
Tesla Motors(TSLA)0.7%Added1.8%Added
Google Inc-a(GOOGL)0.6%Trimmed2.6%Added
Facebook Inc-a(META)0.4%Trimmed1.7%Added
Texas Instrument(TXN)0.4%Added0.9%Added
SanDisk Corp(SNDK)0.4%Trimmed1.0%Added
Qualcomm Inc(QCOM)0.4%Added0.5%Added
Broadcom Inc(AVGO)0.4%Trimmed2.1%Trimmed
Cisco Systems(CSCO)0.3%Added1.3%Trimmed
Applied Material(AMAT)0.3%Trimmed1.6%Added
JP Morgan Chase(JPM)0.5%Added0.3%Added
Eli Lilly & Co(LLY)0.3%Trimmed0.4%Added
Johnson&johnson(JNJ)0.6%Added0.3%Added
T-mobile US Inc(TMUS)0.3%Trimmed0.4%Added

and 198 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; Invesco Ltd added
  • Microsoft Corp(MSFT)Marshall Wace LLP trimmed; Invesco Ltd added
  • Google Inc-a(GOOGL)Marshall Wace LLP trimmed; Invesco Ltd added
  • Alphabet Inc-c(GOOG)Marshall Wace LLP trimmed; Invesco Ltd added
  • Intel Corp(INTC)Marshall Wace LLP trimmed; Invesco Ltd added
  • Facebook Inc-a(META)Marshall Wace LLP trimmed; Invesco Ltd added
  • Applied Material(AMAT)Marshall Wace LLP trimmed; Invesco Ltd added
  • Cisco Systems(CSCO)Marshall Wace LLP added; Invesco Ltd trimmed
  • SanDisk Corp(SNDK)Marshall Wace LLP trimmed; Invesco Ltd added
  • Western Digital Corp(WDC)Marshall Wace LLP trimmed; Invesco Ltd added
  • Marvell Technolo(MRVL)Marshall Wace LLP trimmed; Invesco Ltd added
  • Palo Alto Networ(PANW)Marshall Wace LLP trimmed; Invesco Ltd added
Marshall Wace LLP: the recordInvesco Ltd: the record

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