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← Millennium Management LLC, its record

Millennium Management LLC and Squarepoint Ops LLC: where the books meet

At Q2 2026, at least 17% of the two 13F books was the same, across 139 stocks both listed, against 12% at Q4 2014. 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%14%29%Q4 2014: 12%, 88 in bothQ1 2015: 19%, 153 in both15Q2 2015: 17%, 145 in bothQ3 2015: 17%, 145 in bothQ4 2015: 21%, 198 in bothQ1 2016: 25%, 223 in both16Q2 2016: 22%, 209 in bothQ3 2016: 21%, 205 in bothQ4 2016: 25%, 219 in bothQ1 2017: 26%, 224 in both17Q2 2017: 25%, 219 in bothQ3 2017: 24%, 212 in bothQ4 2017: 25%, 235 in bothQ1 2018: 27%, 233 in both18Q2 2018: 29%, 254 in bothQ3 2018: 25%, 234 in bothQ4 2018: 27%, 234 in bothQ1 2019: 23%, 216 in both19Q2 2019: 21%, 199 in bothQ3 2019: 19%, 186 in bothQ4 2019: 20%, 191 in bothQ1 2020: 15%, 155 in both20Q2 2020: 18%, 186 in bothQ3 2020: 15%, 158 in bothQ4 2020: 22%, 173 in bothQ1 2021: 12%, 146 in both21Q2 2021: 9.7%, 132 in bothQ3 2021: 7.5%, 101 in bothQ4 2021: 11%, 116 in bothQ1 2022: 8.6%, 120 in both22Q2 2022: 8.0%, 115 in bothQ3 2022: 9.5%, 121 in bothQ4 2022: 9.5%, 115 in bothQ1 2023: 12%, 137 in both23Q2 2023: 12%, 131 in bothQ3 2023: 11%, 105 in bothQ4 2023: 11%, 102 in bothQ1 2024: 9.8%, 97 in both24Q2 2024: 13%, 116 in bothQ3 2024: 11%, 116 in bothQ4 2024: 11%, 115 in bothQ1 2025: 13%, 112 in both25Q2 2025: 12%, 120 in bothQ3 2025: 13%, 110 in bothQ4 2025: 17%, 119 in bothQ1 2026: 16%, 137 in both26Q2 2026: 17%, 139 in both
  • Q4 2014: 12%, 88 in both
  • Q1 2015: 19%, 153 in both
  • Q2 2015: 17%, 145 in both
  • Q3 2015: 17%, 145 in both
  • Q4 2015: 21%, 198 in both
  • Q1 2016: 25%, 223 in both
  • Q2 2016: 22%, 209 in both
  • Q3 2016: 21%, 205 in both
  • Q4 2016: 25%, 219 in both
  • Q1 2017: 26%, 224 in both
  • Q2 2017: 25%, 219 in both
  • Q3 2017: 24%, 212 in both
  • Q4 2017: 25%, 235 in both
  • Q1 2018: 27%, 233 in both
  • Q2 2018: 29%, 254 in both
  • Q3 2018: 25%, 234 in both
  • Q4 2018: 27%, 234 in both
  • Q1 2019: 23%, 216 in both
  • Q2 2019: 21%, 199 in both
  • Q3 2019: 19%, 186 in both
  • Q4 2019: 20%, 191 in both
  • Q1 2020: 15%, 155 in both
  • Q2 2020: 18%, 186 in both
  • Q3 2020: 15%, 158 in both
  • Q4 2020: 22%, 173 in both
  • Q1 2021: 12%, 146 in both
  • Q2 2021: 9.7%, 132 in both
  • Q3 2021: 7.5%, 101 in both
  • Q4 2021: 11%, 116 in both
  • Q1 2022: 8.6%, 120 in both
  • Q2 2022: 8.0%, 115 in both
  • Q3 2022: 9.5%, 121 in both
  • Q4 2022: 9.5%, 115 in both
  • Q1 2023: 12%, 137 in both
  • Q2 2023: 12%, 131 in both
  • Q3 2023: 11%, 105 in both
  • Q4 2023: 11%, 102 in both
  • Q1 2024: 9.8%, 97 in both
  • Q2 2024: 13%, 116 in both
  • Q3 2024: 11%, 116 in both
  • Q4 2024: 11%, 115 in both
  • Q1 2025: 13%, 112 in both
  • Q2 2025: 12%, 120 in both
  • Q3 2025: 13%, 110 in both
  • Q4 2025: 17%, 119 in both
  • Q1 2026: 16%, 137 in both
  • Q2 2026: 17%, 139 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 LLCSquarepoint Ops LLC
iShares(IVV)3.9%Added6.6%Trimmed
Spdr S&P 500 Etf Trust(SPY)1.3%Added1.0%Added
Nvidia Corp(NVDA)0.9%Added0.9%Added
Microsoft Corp(MSFT)0.6%Added0.8%Trimmed
Amazon Com Inc(AMZN)0.4%Added1.0%Added
SanDisk Corp(SNDK)0.3%Trimmed0.5%Trimmed
Facebook Inc(META)0.3%Trimmed0.3%Added
Space Exploration Techn Corp(SPCX)1.1%New0.2%New
Micron Technology Inc(MU)0.2%Trimmed0.6%Trimmed
Taiwan Semiconductor MFG LTD(TSM)0.3%New0.2%Added
Unitedhealth Group Inc(UNH)0.2%Added0.2%Trimmed
Chevron Corp New(CVX)0.2%Added0.4%Added
Advanced Micro Devices Inc(AMD)0.2%Trimmed0.7%Added
Electronic Arts Inc(EA)0.3%Added0.2%Trimmed
Norfolk Southern Corp(NSC)0.6%Added0.2%Trimmed
Bloom Energy Corp(BE)0.3%Added0.2%Added
Danaher Corp Del(DHR)0.1%Added0.1%Added
Tesla MTRS Inc(TSLA)0.1%Trimmed0.6%Trimmed
Wells Fargo & Co New(WFC)0.1%Added0.2%Added
PPL Corp(PPL)0.1%Added0.1%Added

and 119 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.

  • iShares(IVV)Millennium Management LLC added; Squarepoint Ops LLC trimmed
  • Norfolk Southern Corp(NSC)Millennium Management LLC added; Squarepoint Ops LLC trimmed
  • Microsoft Corp(MSFT)Millennium Management LLC added; Squarepoint Ops LLC trimmed
  • Electronic Arts Inc(EA)Millennium Management LLC added; Squarepoint Ops LLC trimmed
  • Apple Inc(AAPL)Millennium Management LLC trimmed; Squarepoint Ops LLC added
  • Applied Matls Inc(AMAT)Millennium Management LLC trimmed; Squarepoint Ops LLC added
  • Facebook Inc(META)Millennium Management LLC trimmed; Squarepoint Ops LLC added
  • Unitedhealth Group Inc(UNH)Millennium Management LLC added; Squarepoint Ops LLC trimmed
  • Seagate Technology Hldngs PL(STX)Millennium Management LLC added; Squarepoint Ops LLC trimmed
  • Advanced Micro Devices Inc(AMD)Millennium Management LLC trimmed; Squarepoint Ops LLC added
  • G25457105(CRDO)Millennium Management LLC added; Squarepoint Ops LLC trimmed
  • Invesco LTD(IVZ)Millennium Management LLC trimmed; Squarepoint Ops LLC added
Millennium Management LLC: the recordSquarepoint Ops LLC: the record

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