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← Millennium Management LLC, its record

Millennium Management LLC and Balyasny Asset Management LLC: where the books meet

At Q2 2026, at least 17% of the two 13F books was the same, across 151 stocks both listed, against 12% 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%26%Q2 2013: 12%, 137 in bothQ3 2013: 12%, 117 in bothQ4 2013: 12%, 105 in bothQ1 2014: 14%, 128 in both14Q2 2014: 14%, 119 in bothQ3 2014: 16%, 134 in bothQ4 2014: 15%, 131 in bothQ1 2015: 18%, 139 in both15Q2 2015: 20%, 165 in bothQ3 2015: 23%, 190 in bothQ4 2015: 25%, 185 in bothQ1 2016: 22%, 180 in both16Q2 2016: 24%, 195 in bothQ3 2016: 26%, 218 in bothQ4 2016: 24%, 194 in bothQ1 2017: 25%, 208 in both17Q2 2017: 22%, 183 in bothQ3 2017: 22%, 177 in bothQ4 2017: 26%, 204 in bothQ1 2018: 25%, 207 in both18Q2 2018: 23%, 184 in bothQ3 2018: 22%, 185 in bothQ4 2018: 21%, 178 in bothQ1 2019: 22%, 180 in both19Q2 2019: 19%, 159 in bothQ3 2019: 20%, 172 in bothQ4 2019: 18%, 165 in bothQ1 2020: 13%, 124 in both20Q2 2020: 13%, 131 in bothQ3 2020: 14%, 141 in bothQ4 2020: 14%, 136 in bothQ1 2021: 12%, 132 in both21Q2 2021: 12%, 144 in bothQ3 2021: 10%, 118 in bothQ4 2021: 9.9%, 108 in bothQ1 2022: 8.2%, 111 in both22Q2 2022: 11%, 138 in bothQ3 2022: 11%, 122 in bothQ4 2022: 11%, 124 in bothQ1 2023: 12%, 137 in both23Q2 2023: 13%, 150 in bothQ3 2023: 15%, 140 in bothQ4 2023: 12%, 129 in bothQ1 2024: 15%, 149 in both24Q2 2024: 17%, 151 in bothQ3 2024: 14%, 151 in bothQ4 2024: 15%, 161 in bothQ1 2025: 15%, 133 in both25Q2 2025: 14%, 146 in bothQ3 2025: 16%, 145 in bothQ4 2025: 19%, 164 in bothQ1 2026: 16%, 166 in both26Q2 2026: 17%, 151 in both
  • Q2 2013: 12%, 137 in both
  • Q3 2013: 12%, 117 in both
  • Q4 2013: 12%, 105 in both
  • Q1 2014: 14%, 128 in both
  • Q2 2014: 14%, 119 in both
  • Q3 2014: 16%, 134 in both
  • Q4 2014: 15%, 131 in both
  • Q1 2015: 18%, 139 in both
  • Q2 2015: 20%, 165 in both
  • Q3 2015: 23%, 190 in both
  • Q4 2015: 25%, 185 in both
  • Q1 2016: 22%, 180 in both
  • Q2 2016: 24%, 195 in both
  • Q3 2016: 26%, 218 in both
  • Q4 2016: 24%, 194 in both
  • Q1 2017: 25%, 208 in both
  • Q2 2017: 22%, 183 in both
  • Q3 2017: 22%, 177 in both
  • Q4 2017: 26%, 204 in both
  • Q1 2018: 25%, 207 in both
  • Q2 2018: 23%, 184 in both
  • Q3 2018: 22%, 185 in both
  • Q4 2018: 21%, 178 in both
  • Q1 2019: 22%, 180 in both
  • Q2 2019: 19%, 159 in both
  • Q3 2019: 20%, 172 in both
  • Q4 2019: 18%, 165 in both
  • Q1 2020: 13%, 124 in both
  • Q2 2020: 13%, 131 in both
  • Q3 2020: 14%, 141 in both
  • Q4 2020: 14%, 136 in both
  • Q1 2021: 12%, 132 in both
  • Q2 2021: 12%, 144 in both
  • Q3 2021: 10%, 118 in both
  • Q4 2021: 9.9%, 108 in both
  • Q1 2022: 8.2%, 111 in both
  • Q2 2022: 11%, 138 in both
  • Q3 2022: 11%, 122 in both
  • Q4 2022: 11%, 124 in both
  • Q1 2023: 12%, 137 in both
  • Q2 2023: 13%, 150 in both
  • Q3 2023: 15%, 140 in both
  • Q4 2023: 12%, 129 in both
  • Q1 2024: 15%, 149 in both
  • Q2 2024: 17%, 151 in both
  • Q3 2024: 14%, 151 in both
  • Q4 2024: 15%, 161 in both
  • Q1 2025: 15%, 133 in both
  • Q2 2025: 14%, 146 in both
  • Q3 2025: 16%, 145 in both
  • Q4 2025: 19%, 164 in both
  • Q1 2026: 16%, 166 in both
  • Q2 2026: 17%, 151 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 LLCBalyasny Asset Management LLC
Nvidia Corp(NVDA)0.9%Added0.8%Trimmed
Spdr S&P 500 Etf Trust(SPY)1.3%Added0.8%Added
Space Exploration Techn Corp(SPCX)1.1%New0.7%New
iShares(IVV)3.9%Added0.7%New
Warner Bros Discovery Inc(WBD)0.6%Added0.5%Trimmed
Norfolk Southern Corp(NSC)0.6%Added0.4%Trimmed
Amazon Com Inc(AMZN)0.4%Added1.4%Added
Electronic Arts Inc(EA)0.3%Added0.3%Added
Microsoft Corp(MSFT)0.6%Added0.3%Added
Taiwan Semiconductor Manufacturing Co Ltd(TSM)0.3%New0.3%Added
Facebook Inc(META)0.3%Trimmed0.4%Trimmed
Kenvue Inc(KVUE)0.3%Added0.5%Trimmed
80004c200(SNDK)0.3%Trimmed0.2%Added
Unitedhealth Group Inc(UNH)0.2%Added0.2%Added
Invesco QQQ Trust(QQQ)0.2%New0.2%Added
Seagate Technology Hldngs PL(STX)0.2%Added0.3%Trimmed
IDEX Corp(IEX)0.2%Added0.2%Added
Advanced Micro Devices Inc(AMD)0.2%Trimmed0.4%Added
09290d101(BLK)0.2%Trimmed0.4%Added
Cheniere Energy Inc(LNG)0.2%New0.2%Added

and 131 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)Millennium Management LLC added; Balyasny Asset Management LLC trimmed
  • Norfolk Southern Corp(NSC)Millennium Management LLC added; Balyasny Asset Management LLC trimmed
  • Warner Bros Discovery Inc(WBD)Millennium Management LLC added; Balyasny Asset Management LLC trimmed
  • 80004c200(SNDK)Millennium Management LLC trimmed; Balyasny Asset Management LLC added
  • Kenvue Inc(KVUE)Millennium Management LLC added; Balyasny Asset Management LLC trimmed
  • Seagate Technology Hldngs PL(STX)Millennium Management LLC added; Balyasny Asset Management LLC trimmed
  • Advanced Micro Devices Inc(AMD)Millennium Management LLC trimmed; Balyasny Asset Management LLC added
  • 09290d101(BLK)Millennium Management LLC trimmed; Balyasny Asset Management LLC added
  • Cbre Group Inc(CBRE)Millennium Management LLC trimmed; Balyasny Asset Management LLC added
  • Tesla MTRS Inc(TSLA)Millennium Management LLC trimmed; Balyasny Asset Management LLC added
  • Webster Finl Corp Conn(WBS)Millennium Management LLC added; Balyasny Asset Management LLC sold out
  • 3M Co(MMM)Millennium Management LLC trimmed; Balyasny Asset Management LLC added
Millennium Management LLC: the recordBalyasny Asset Management LLC: the record

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