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← Millennium Management LLC, its record

Millennium Management LLC and D. E. Shaw & Co.: where the books meet

At Q2 2026, at least 15% of the two 13F books was the same, across 133 stocks both listed, against 14% 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: 14%, 166 in bothQ3 2013: 12%, 137 in bothQ4 2013: 14%, 138 in bothQ1 2014: 16%, 152 in both14Q2 2014: 15%, 141 in bothQ3 2014: 15%, 146 in bothQ4 2014: 16%, 156 in bothQ1 2015: 21%, 175 in both15Q2 2015: 20%, 186 in bothQ3 2015: 22%, 183 in bothQ4 2015: 20%, 177 in bothQ1 2016: 21%, 175 in both16Q2 2016: 23%, 187 in bothQ3 2016: 20%, 178 in bothQ4 2016: 22%, 184 in bothQ1 2017: 25%, 206 in both17Q2 2017: 22%, 196 in bothQ3 2017: 20%, 174 in bothQ4 2017: 21%, 186 in bothQ1 2018: 23%, 207 in both18Q2 2018: 22%, 183 in bothQ3 2018: 23%, 189 in bothQ4 2018: 26%, 192 in bothQ1 2019: 21%, 172 in both19Q2 2019: 19%, 170 in bothQ3 2019: 17%, 150 in bothQ4 2019: 17%, 155 in bothQ1 2020: 14%, 143 in both20Q2 2020: 15%, 160 in bothQ3 2020: 14%, 151 in bothQ4 2020: 18%, 151 in bothQ1 2021: 15%, 150 in both21Q2 2021: 13%, 148 in bothQ3 2021: 10%, 115 in bothQ4 2021: 13%, 109 in bothQ1 2022: 9.2%, 114 in both22Q2 2022: 9.8%, 124 in bothQ3 2022: 9.1%, 111 in bothQ4 2022: 9.2%, 104 in bothQ1 2023: 12%, 124 in both23Q2 2023: 12%, 130 in bothQ3 2023: 14%, 132 in bothQ4 2023: 12%, 118 in bothQ1 2024: 14%, 134 in both24Q2 2024: 17%, 141 in bothQ3 2024: 14%, 133 in bothQ4 2024: 17%, 151 in bothQ1 2025: 15%, 145 in both25Q2 2025: 14%, 137 in bothQ3 2025: 15%, 128 in bothQ4 2025: 17%, 133 in bothQ1 2026: 15%, 128 in both26Q2 2026: 15%, 133 in both
  • Q2 2013: 14%, 166 in both
  • Q3 2013: 12%, 137 in both
  • Q4 2013: 14%, 138 in both
  • Q1 2014: 16%, 152 in both
  • Q2 2014: 15%, 141 in both
  • Q3 2014: 15%, 146 in both
  • Q4 2014: 16%, 156 in both
  • Q1 2015: 21%, 175 in both
  • Q2 2015: 20%, 186 in both
  • Q3 2015: 22%, 183 in both
  • Q4 2015: 20%, 177 in both
  • Q1 2016: 21%, 175 in both
  • Q2 2016: 23%, 187 in both
  • Q3 2016: 20%, 178 in both
  • Q4 2016: 22%, 184 in both
  • Q1 2017: 25%, 206 in both
  • Q2 2017: 22%, 196 in both
  • Q3 2017: 20%, 174 in both
  • Q4 2017: 21%, 186 in both
  • Q1 2018: 23%, 207 in both
  • Q2 2018: 22%, 183 in both
  • Q3 2018: 23%, 189 in both
  • Q4 2018: 26%, 192 in both
  • Q1 2019: 21%, 172 in both
  • Q2 2019: 19%, 170 in both
  • Q3 2019: 17%, 150 in both
  • Q4 2019: 17%, 155 in both
  • Q1 2020: 14%, 143 in both
  • Q2 2020: 15%, 160 in both
  • Q3 2020: 14%, 151 in both
  • Q4 2020: 18%, 151 in both
  • Q1 2021: 15%, 150 in both
  • Q2 2021: 13%, 148 in both
  • Q3 2021: 10%, 115 in both
  • Q4 2021: 13%, 109 in both
  • Q1 2022: 9.2%, 114 in both
  • Q2 2022: 9.8%, 124 in both
  • Q3 2022: 9.1%, 111 in both
  • Q4 2022: 9.2%, 104 in both
  • Q1 2023: 12%, 124 in both
  • Q2 2023: 12%, 130 in both
  • Q3 2023: 14%, 132 in both
  • Q4 2023: 12%, 118 in both
  • Q1 2024: 14%, 134 in both
  • Q2 2024: 17%, 141 in both
  • Q3 2024: 14%, 133 in both
  • Q4 2024: 17%, 151 in both
  • Q1 2025: 15%, 145 in both
  • Q2 2025: 14%, 137 in both
  • Q3 2025: 15%, 128 in both
  • Q4 2025: 17%, 133 in both
  • Q1 2026: 15%, 128 in both
  • Q2 2026: 15%, 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 LLCD. E. Shaw & Co.
Spdr S&P 500 Etf Trust(SPY)1.3%Added5.0%Added
Nvidia Corp(NVDA)0.9%Added1.9%Added
Microsoft Corp(MSFT)0.6%Added0.6%Trimmed
Warner Bros Discovery Inc(WBD)0.6%Added0.5%Added
Space Exploration Techn Corp(SPCX)1.1%New0.4%New
Norfolk Southern Corp(NSC)0.6%Added0.4%Added
Amazon Com Inc(AMZN)0.4%Added1.2%Added
SanDisk Corp(SNDK)0.3%Trimmed0.6%Trimmed
Bloom Energy Corp(BE)0.3%Added0.6%Trimmed
Facebook Inc(META)0.3%Trimmed0.9%Added
Seagate Technology Hldngs PL(STX)0.2%Added0.6%Added
Micron Technology Inc(MU)0.2%Trimmed0.4%Trimmed
Intercontinentalexchange Gro(ICE)0.2%Added0.3%Added
Advanced Micro Devices Inc(AMD)0.2%Trimmed0.9%Trimmed
Cheniere Energy Inc(LNG)0.2%New0.2%Added
Taiwan Semiconductor MFG LTD(TSM)0.3%New0.2%Trimmed
Freeport-mcmoran Copper & Go(FCX)0.3%Trimmed0.2%Trimmed
Tesla MTRS Inc(TSLA)0.1%Trimmed0.9%Trimmed
Mastercard Inc(MA)0.1%Trimmed0.5%Added
Wells Fargo & Co New(WFC)0.1%Added0.3%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.

  • Alphabet Inc(GOOG)Millennium Management LLC trimmed; D. E. Shaw & Co. added
  • Facebook Inc(META)Millennium Management LLC trimmed; D. E. Shaw & Co. added
  • Microsoft Corp(MSFT)Millennium Management LLC added; D. E. Shaw & Co. trimmed
  • Bloom Energy Corp(BE)Millennium Management LLC added; D. E. Shaw & Co. trimmed
  • Western Digital Corp(WDC)Millennium Management LLC added; D. E. Shaw & Co. trimmed
  • General MTRS Co(GM)Millennium Management LLC trimmed; D. E. Shaw & Co. added
  • Mastercard Inc(MA)Millennium Management LLC trimmed; D. E. Shaw & Co. added
  • Berkshire Hathaway Inc Del(BRK-B)Millennium Management LLC trimmed; D. E. Shaw & Co. added
  • Costco WHSL Corp New(COST)Millennium Management LLC added; D. E. Shaw & Co. trimmed
  • Taiwan Semiconductor MFG LTD(TSM)Millennium Management LLC started; D. E. Shaw & Co. trimmed
  • 49177j102(KVUE)Millennium Management LLC added; D. E. Shaw & Co. trimmed
  • Unitedhealth Group Inc(UNH)Millennium Management LLC added; D. E. Shaw & Co. trimmed
Millennium Management LLC: the recordD. E. Shaw & Co.: the record

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