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← Millennium Management LLC, its record

Millennium Management LLC and AQR Capital Management LLC: where the books meet

At Q2 2026, at least 15% of the two 13F books was the same, across 164 stocks both listed, against 16% 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%13%27%Q2 2013: 16%, 179 in bothQ3 2013: 16%, 170 in bothQ4 2013: 17%, 164 in bothQ1 2014: 18%, 166 in both14Q2 2014: 21%, 181 in bothQ3 2014: 20%, 165 in bothQ4 2014: 20%, 180 in bothQ1 2015: 24%, 213 in both15Q2 2015: 22%, 208 in bothQ3 2015: 23%, 217 in bothQ4 2015: 24%, 204 in bothQ1 2016: 24%, 192 in both16Q2 2016: 24%, 192 in bothQ3 2016: 24%, 202 in bothQ4 2016: 25%, 215 in bothQ1 2017: 24%, 201 in both17Q2 2017: 24%, 204 in bothQ3 2017: 24%, 209 in bothQ4 2017: 24%, 225 in bothQ1 2018: 25%, 232 in both18Q2 2018: 24%, 217 in bothQ3 2018: 23%, 204 in bothQ4 2018: 26%, 219 in bothQ1 2019: 22%, 206 in both19Q2 2019: 18%, 176 in bothQ3 2019: 18%, 175 in bothQ4 2019: 19%, 173 in bothQ1 2020: 16%, 168 in both20Q2 2020: 17%, 176 in bothQ3 2020: 15%, 172 in bothQ4 2020: 21%, 175 in bothQ1 2021: 15%, 157 in both21Q2 2021: 13%, 157 in bothQ3 2021: 11%, 146 in bothQ4 2021: 13%, 138 in bothQ1 2022: 11%, 154 in both22Q2 2022: 12%, 155 in bothQ3 2022: 13%, 160 in bothQ4 2022: 13%, 159 in bothQ1 2023: 14%, 170 in both23Q2 2023: 15%, 184 in bothQ3 2023: 15%, 159 in bothQ4 2023: 14%, 149 in bothQ1 2024: 15%, 154 in both24Q2 2024: 19%, 182 in bothQ3 2024: 16%, 179 in bothQ4 2024: 18%, 188 in bothQ1 2025: 16%, 172 in both25Q2 2025: 16%, 180 in bothQ3 2025: 18%, 180 in bothQ4 2025: 17%, 167 in bothQ1 2026: 16%, 168 in both26Q2 2026: 15%, 164 in both
  • Q2 2013: 16%, 179 in both
  • Q3 2013: 16%, 170 in both
  • Q4 2013: 17%, 164 in both
  • Q1 2014: 18%, 166 in both
  • Q2 2014: 21%, 181 in both
  • Q3 2014: 20%, 165 in both
  • Q4 2014: 20%, 180 in both
  • Q1 2015: 24%, 213 in both
  • Q2 2015: 22%, 208 in both
  • Q3 2015: 23%, 217 in both
  • Q4 2015: 24%, 204 in both
  • Q1 2016: 24%, 192 in both
  • Q2 2016: 24%, 192 in both
  • Q3 2016: 24%, 202 in both
  • Q4 2016: 25%, 215 in both
  • Q1 2017: 24%, 201 in both
  • Q2 2017: 24%, 204 in both
  • Q3 2017: 24%, 209 in both
  • Q4 2017: 24%, 225 in both
  • Q1 2018: 25%, 232 in both
  • Q2 2018: 24%, 217 in both
  • Q3 2018: 23%, 204 in both
  • Q4 2018: 26%, 219 in both
  • Q1 2019: 22%, 206 in both
  • Q2 2019: 18%, 176 in both
  • Q3 2019: 18%, 175 in both
  • Q4 2019: 19%, 173 in both
  • Q1 2020: 16%, 168 in both
  • Q2 2020: 17%, 176 in both
  • Q3 2020: 15%, 172 in both
  • Q4 2020: 21%, 175 in both
  • Q1 2021: 15%, 157 in both
  • Q2 2021: 13%, 157 in both
  • Q3 2021: 11%, 146 in both
  • Q4 2021: 13%, 138 in both
  • Q1 2022: 11%, 154 in both
  • Q2 2022: 12%, 155 in both
  • Q3 2022: 13%, 160 in both
  • Q4 2022: 13%, 159 in both
  • Q1 2023: 14%, 170 in both
  • Q2 2023: 15%, 184 in both
  • Q3 2023: 15%, 159 in both
  • Q4 2023: 14%, 149 in both
  • Q1 2024: 15%, 154 in both
  • Q2 2024: 19%, 182 in both
  • Q3 2024: 16%, 179 in both
  • Q4 2024: 18%, 188 in both
  • Q1 2025: 16%, 172 in both
  • Q2 2025: 16%, 180 in both
  • Q3 2025: 18%, 180 in both
  • Q4 2025: 17%, 167 in both
  • Q1 2026: 16%, 168 in both
  • Q2 2026: 15%, 164 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.

StockMillennium Management LLCAQR Capital Management LLC
Nvidia Corp(NVDA)0.9%Added2.6%Added
Microsoft Corp(MSFT)0.6%Added1.5%Added
Amazon Com Inc(AMZN)0.4%Added1.0%Added
80004c200(SNDK)0.3%Trimmed0.3%Trimmed
Spdr S&P 500 Etf Trust(SPY)1.3%Added0.3%Added
Facebook Inc(META)0.3%Trimmed0.4%Added
Freeport-Mcmoran Copper & Go(FCX)0.3%Trimmed0.3%Added
Unitedhealth Group Inc(UNH)0.2%Added0.3%Added
Vanguard Index Funds(VOO)0.5%Added0.2%Added
Seagate Technology Hldngs PL(STX)0.2%Added0.4%Added
Micron Technology Inc(MU)0.2%Trimmed1.5%Trimmed
Chevron Corp New(CVX)0.2%Added0.3%Added
Advanced Micro Devices Inc(AMD)0.2%Trimmed0.3%Added
09290d101(BLK)0.2%Trimmed0.2%Added
iShares(IVV)3.9%Added0.2%Added
Danaher Corp Del(DHR)0.1%Added0.2%Trimmed
Tesla MTRS Inc(TSLA)0.1%Trimmed0.4%Added
Mastercard Inc(MA)0.1%Trimmed0.2%Added
Wells Fargo & Co New(WFC)0.1%Added0.3%Added
Abbvie Inc(ABBV)0.1%Added0.2%Added

and 144 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.

  • Apple Inc(AAPL)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Broadcom Inc(AVGO)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Alphabet Inc(GOOG)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Western Digital Corp(WDC)Millennium Management LLC added; AQR Capital Management LLC trimmed
  • Lam Research Corp(LRCX)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Pg&e Corp(PCG)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Lilly Eli & Co(LLY)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Tesla MTRS Inc(TSLA)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Facebook Inc(META)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Berkshire Hathaway Inc Del(BRK-B)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • 445658107(JBHT)Millennium Management LLC trimmed; AQR Capital Management LLC added
  • Snowflake Inc(SNOW)Millennium Management LLC started; AQR Capital Management LLC trimmed
Millennium Management LLC: the recordAQR Capital Management LLC: the record

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