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← Millennium Management LLC, its record

Millennium Management LLC and Marshall Wace LLP: where the books meet

At Q2 2026, at least 17% of the two 13F books was the same, across 155 stocks both listed, against 4.3% 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%25%Q2 2013: 4.3%, 54 in bothQ1 2014: 15%, 154 in both14Q2 2014: 17%, 186 in bothQ3 2014: 18%, 195 in bothQ4 2014: 18%, 184 in bothQ1 2015: 20%, 183 in both15Q2 2015: 19%, 189 in bothQ3 2015: 20%, 189 in bothQ4 2015: 23%, 207 in bothQ1 2016: 21%, 217 in both16Q2 2016: 22%, 201 in bothQ3 2016: 19%, 210 in bothQ4 2016: 25%, 224 in bothQ1 2017: 15%, 131 in both17Q2 2017: 14%, 127 in bothQ3 2017: 15%, 135 in bothQ4 2017: 17%, 164 in bothQ1 2018: 17%, 185 in both18Q2 2018: 20%, 192 in bothQ3 2018: 17%, 160 in bothQ4 2018: 19%, 153 in bothQ1 2019: 18%, 156 in both19Q2 2019: 16%, 156 in bothQ3 2019: 16%, 143 in bothQ4 2019: 15%, 145 in bothQ1 2020: 14%, 140 in both20Q2 2020: 15%, 149 in bothQ3 2020: 14%, 143 in bothQ4 2020: 16%, 146 in bothQ1 2021: 13%, 130 in both21Q2 2021: 11%, 118 in bothQ3 2021: 7.3%, 81 in bothQ4 2021: 12%, 118 in bothQ1 2022: 9.7%, 133 in both22Q2 2022: 11%, 137 in bothQ3 2022: 11%, 133 in bothQ4 2022: 10%, 121 in bothQ1 2023: 13%, 144 in both23Q2 2023: 14%, 147 in bothQ3 2023: 15%, 137 in bothQ4 2023: 14%, 125 in bothQ1 2024: 16%, 148 in both24Q2 2024: 19%, 165 in bothQ3 2024: 16%, 146 in bothQ4 2024: 17%, 161 in bothQ1 2025: 17%, 157 in both25Q2 2025: 15%, 154 in bothQ3 2025: 17%, 147 in bothQ4 2025: 20%, 152 in bothQ1 2026: 18%, 143 in both26Q2 2026: 17%, 155 in both
  • Q2 2013: 4.3%, 54 in both
  • Q1 2014: 15%, 154 in both
  • Q2 2014: 17%, 186 in both
  • Q3 2014: 18%, 195 in both
  • Q4 2014: 18%, 184 in both
  • Q1 2015: 20%, 183 in both
  • Q2 2015: 19%, 189 in both
  • Q3 2015: 20%, 189 in both
  • Q4 2015: 23%, 207 in both
  • Q1 2016: 21%, 217 in both
  • Q2 2016: 22%, 201 in both
  • Q3 2016: 19%, 210 in both
  • Q4 2016: 25%, 224 in both
  • Q1 2017: 15%, 131 in both
  • Q2 2017: 14%, 127 in both
  • Q3 2017: 15%, 135 in both
  • Q4 2017: 17%, 164 in both
  • Q1 2018: 17%, 185 in both
  • Q2 2018: 20%, 192 in both
  • Q3 2018: 17%, 160 in both
  • Q4 2018: 19%, 153 in both
  • Q1 2019: 18%, 156 in both
  • Q2 2019: 16%, 156 in both
  • Q3 2019: 16%, 143 in both
  • Q4 2019: 15%, 145 in both
  • Q1 2020: 14%, 140 in both
  • Q2 2020: 15%, 149 in both
  • Q3 2020: 14%, 143 in both
  • Q4 2020: 16%, 146 in both
  • Q1 2021: 13%, 130 in both
  • Q2 2021: 11%, 118 in both
  • Q3 2021: 7.3%, 81 in both
  • Q4 2021: 12%, 118 in both
  • Q1 2022: 9.7%, 133 in both
  • Q2 2022: 11%, 137 in both
  • Q3 2022: 11%, 133 in both
  • Q4 2022: 10%, 121 in both
  • Q1 2023: 13%, 144 in both
  • Q2 2023: 14%, 147 in both
  • Q3 2023: 15%, 137 in both
  • Q4 2023: 14%, 125 in both
  • Q1 2024: 16%, 148 in both
  • Q2 2024: 19%, 165 in both
  • Q3 2024: 16%, 146 in both
  • Q4 2024: 17%, 161 in both
  • Q1 2025: 17%, 157 in both
  • Q2 2025: 15%, 154 in both
  • Q3 2025: 17%, 147 in both
  • Q4 2025: 20%, 152 in both
  • Q1 2026: 18%, 143 in both
  • Q2 2026: 17%, 155 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 LLCMarshall Wace LLP
iShares(IVV)3.9%Added24%Added
Nvidia Corp(NVDA)0.9%Added1.4%Trimmed
Microsoft Corp(MSFT)0.6%Added1.0%Trimmed
Amazon Com Inc(AMZN)0.4%Added1.8%Added
80004c200(SNDK)0.3%Trimmed0.4%Trimmed
Bloom Energy Corp(BE)0.3%Added0.4%Added
Taiwan Semic-adr(TSM)0.3%New0.7%Trimmed
Facebook Inc(META)0.3%Trimmed0.4%Trimmed
Unitedhealth Group Inc(UNH)0.2%Added0.6%Added
Micron Technology Inc(MU)0.2%Trimmed1.2%Added
Chevron Corp New(CVX)0.2%Added0.3%Trimmed
Advanced Micro Devices Inc(AMD)0.2%Trimmed1.8%Added
Norfolk Southern Corp(NSC)0.6%Added0.2%Added
35671d857(FCX)0.3%Trimmed0.2%Added
Tesla MTRS Inc(TSLA)0.1%Trimmed0.7%Added
Abbvie Inc(ABBV)0.1%Added0.6%Added
American Tower Corp New(AMT)0.1%Added0.2%Added
Costco WHSL Corp New(COST)0.1%Added0.9%Added
Capital One Finl Corp(COF)0.1%Added0.2%Trimmed
Cbre Group Inc(CBRE)0.2%Trimmed0.1%Added

and 135 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; Marshall Wace LLP added
  • Nvidia Corp(NVDA)Millennium Management LLC added; Marshall Wace LLP trimmed
  • Advanced Micro Devices Inc(AMD)Millennium Management LLC trimmed; Marshall Wace LLP added
  • Microsoft Corp(MSFT)Millennium Management LLC added; Marshall Wace LLP trimmed
  • Micron Technology Inc(MU)Millennium Management LLC trimmed; Marshall Wace LLP added
  • Morgan Stanley(MS)Millennium Management LLC trimmed; Marshall Wace LLP added
  • Tesla MTRS Inc(TSLA)Millennium Management LLC trimmed; Marshall Wace LLP added
  • Taiwan Semic-adr(TSM)Millennium Management LLC started; Marshall Wace LLP trimmed
  • Hilton Worldwide HLDGS Inc(HLT)Millennium Management LLC added; Marshall Wace LLP trimmed
  • 35671d857(FCX)Millennium Management LLC trimmed; Marshall Wace LLP added
  • Bank of America Corporation(BAC)Millennium Management LLC trimmed; Marshall Wace LLP added
  • Kenvue Inc(KVUE)Millennium Management LLC added; Marshall Wace LLP trimmed
Millennium Management LLC: the recordMarshall Wace LLP: the record

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