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← Millennium Management LLC, its record

Millennium Management LLC and Bridgewater Associates LP: where the books meet

At Q2 2026, at least 16% of the two 13F books was the same, across 133 stocks both listed, against 3.7% 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%8%16%Q2 2013: 3.7%, 141 in bothQ3 2013: 4.6%, 136 in bothQ4 2013: 5.1%, 125 in bothQ1 2014: 4.6%, 133 in both14Q2 2014: 4.6%, 127 in bothQ3 2014: 4.6%, 142 in bothQ4 2014: 5.8%, 140 in bothQ1 2015: 5.3%, 120 in both15Q2 2015: 5.5%, 130 in bothQ3 2015: 10.0%, 162 in bothQ4 2015: 8.5%, 113 in bothQ1 2016: 8.2%, 121 in both16Q2 2016: 8.9%, 144 in bothQ3 2016: 7.5%, 132 in bothQ4 2016: 7.2%, 114 in bothQ1 2017: 6.0%, 110 in both17Q2 2017: 3.6%, 110 in bothQ3 2017: 4.4%, 110 in bothQ4 2017: 4.6%, 105 in bothQ1 2018: 6.6%, 163 in both18Q2 2018: 6.4%, 162 in bothQ3 2018: 5.0%, 126 in bothQ4 2018: 10%, 165 in bothQ1 2019: 5.2%, 127 in both19Q2 2019: 5.7%, 107 in bothQ3 2019: 5.2%, 100 in bothQ4 2019: 11%, 121 in bothQ1 2020: 4.3%, 121 in both20Q2 2020: 3.6%, 108 in bothQ3 2020: 6.7%, 110 in bothQ4 2020: 10%, 129 in bothQ1 2021: 6.3%, 117 in both21Q2 2021: 7.1%, 104 in bothQ3 2021: 5.3%, 96 in bothQ4 2021: 6.8%, 88 in bothQ1 2022: 8.2%, 140 in both22Q2 2022: 9.9%, 148 in bothQ3 2022: 10%, 151 in bothQ4 2022: 9.6%, 141 in bothQ1 2023: 8.7%, 129 in both23Q2 2023: 11%, 147 in bothQ3 2023: 12%, 134 in bothQ4 2023: 11%, 121 in bothQ1 2024: 15%, 141 in both24Q2 2024: 16%, 143 in bothQ3 2024: 14%, 134 in bothQ4 2024: 14%, 138 in bothQ1 2025: 13%, 137 in both25Q2 2025: 12%, 135 in bothQ3 2025: 14%, 143 in bothQ4 2025: 16%, 126 in bothQ1 2026: 15%, 137 in both26Q2 2026: 16%, 133 in both
  • Q2 2013: 3.7%, 141 in both
  • Q3 2013: 4.6%, 136 in both
  • Q4 2013: 5.1%, 125 in both
  • Q1 2014: 4.6%, 133 in both
  • Q2 2014: 4.6%, 127 in both
  • Q3 2014: 4.6%, 142 in both
  • Q4 2014: 5.8%, 140 in both
  • Q1 2015: 5.3%, 120 in both
  • Q2 2015: 5.5%, 130 in both
  • Q3 2015: 10.0%, 162 in both
  • Q4 2015: 8.5%, 113 in both
  • Q1 2016: 8.2%, 121 in both
  • Q2 2016: 8.9%, 144 in both
  • Q3 2016: 7.5%, 132 in both
  • Q4 2016: 7.2%, 114 in both
  • Q1 2017: 6.0%, 110 in both
  • Q2 2017: 3.6%, 110 in both
  • Q3 2017: 4.4%, 110 in both
  • Q4 2017: 4.6%, 105 in both
  • Q1 2018: 6.6%, 163 in both
  • Q2 2018: 6.4%, 162 in both
  • Q3 2018: 5.0%, 126 in both
  • Q4 2018: 10%, 165 in both
  • Q1 2019: 5.2%, 127 in both
  • Q2 2019: 5.7%, 107 in both
  • Q3 2019: 5.2%, 100 in both
  • Q4 2019: 11%, 121 in both
  • Q1 2020: 4.3%, 121 in both
  • Q2 2020: 3.6%, 108 in both
  • Q3 2020: 6.7%, 110 in both
  • Q4 2020: 10%, 129 in both
  • Q1 2021: 6.3%, 117 in both
  • Q2 2021: 7.1%, 104 in both
  • Q3 2021: 5.3%, 96 in both
  • Q4 2021: 6.8%, 88 in both
  • Q1 2022: 8.2%, 140 in both
  • Q2 2022: 9.9%, 148 in both
  • Q3 2022: 10%, 151 in both
  • Q4 2022: 9.6%, 141 in both
  • Q1 2023: 8.7%, 129 in both
  • Q2 2023: 11%, 147 in both
  • Q3 2023: 12%, 134 in both
  • Q4 2023: 11%, 121 in both
  • Q1 2024: 15%, 141 in both
  • Q2 2024: 16%, 143 in both
  • Q3 2024: 14%, 134 in both
  • Q4 2024: 14%, 138 in both
  • Q1 2025: 13%, 137 in both
  • Q2 2025: 12%, 135 in both
  • Q3 2025: 14%, 143 in both
  • Q4 2025: 16%, 126 in both
  • Q1 2026: 15%, 137 in both
  • Q2 2026: 16%, 133 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 LLCBridgewater Associates LP
iShares(IVV)3.9%Added9.2%Added
Spdr S&P 500 Etf Trust(SPY)1.3%Added16%Added
Nvidia Corp(NVDA)0.9%Added3.2%Trimmed
Microsoft Corp(MSFT)0.6%Added1.1%Trimmed
Vanguard Index Funds(VOO)0.5%Added1.3%Added
Amazon Com Inc(AMZN)0.4%Added2.0%Trimmed
Facebook Inc(META)0.3%Trimmed0.3%Trimmed
Seagate Technology Hldngs PL(STX)0.2%Added0.8%Trimmed
Micron Technology Inc(MU)0.2%Trimmed0.6%Trimmed
G25457105(CRDO)0.2%Added0.2%Trimmed
Advanced Micro Devices Inc(AMD)0.2%Trimmed1.3%Trimmed
NRG Energy Inc(NRG)0.2%Added0.2%Trimmed
Wells Fargo & Co New(WFC)0.1%Added0.4%Added
Lennox Intl Inc(LII)0.1%Added0.1%Added
PPL Corp(PPL)0.1%Added0.2%Added
Devon Energy Corp New(DVN)0.1%Added0.1%New
Capital One Finl Corp(COF)0.1%Added0.1%New
Oracle Corp(ORCL)0.1%Added0.9%Trimmed
Lam Research Corp(LRCX)0.1%Trimmed1.7%Trimmed
Suncor Energy Inc New(SU)0.1%Added0.2%Added

and 113 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; Bridgewater Associates LP trimmed
  • Microsoft Corp(MSFT)Millennium Management LLC added; Bridgewater Associates LP trimmed
  • Amazon Com Inc(AMZN)Millennium Management LLC added; Bridgewater Associates LP trimmed
  • Bloom Energy Corp(BE)Millennium Management LLC added; Bridgewater Associates LP trimmed
  • Taiwan Semiconductor MFG LTD(TSM)Millennium Management LLC started; Bridgewater Associates LP trimmed
  • NRG Energy Inc(NRG)Millennium Management LLC added; Bridgewater Associates LP trimmed
  • Seagate Technology Hldngs PL(STX)Millennium Management LLC added; Bridgewater Associates LP trimmed
  • G25457105(CRDO)Millennium Management LLC added; Bridgewater Associates LP trimmed
  • Cheniere Energy Inc(LNG)Millennium Management LLC started; Bridgewater Associates LP trimmed
  • 09290d101(BLK)Millennium Management LLC trimmed; Bridgewater Associates LP started
  • Cbre Group Inc(CBRE)Millennium Management LLC trimmed; Bridgewater Associates LP started
  • American Tower Corp New(AMT)Millennium Management LLC added; Bridgewater Associates LP trimmed
Millennium Management LLC: the recordBridgewater Associates LP: the record

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