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← Steadfast Capital Management LP, its record

Steadfast Capital Management LP and Baillie Gifford & Co: where the books meet

At Q2 2026, 15% of the two 13F books was the same, across 20 stocks both listed, against 5.5% 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%11%22%Q2 2013: 5.5%, 7 in bothQ3 2013: 5.0%, 6 in bothQ4 2013: 7.8%, 7 in bothQ1 2014: 4.4%, 6 in both14Q2 2014: 4.8%, 5 in bothQ3 2014: 4.5%, 7 in bothQ4 2014: 6.7%, 8 in bothQ1 2015: 4.3%, 11 in both15Q2 2015: 3.5%, 9 in bothQ3 2015: 5.8%, 8 in bothQ4 2015: 9.7%, 9 in bothQ1 2016: 9.4%, 11 in both16Q2 2016: 5.6%, 9 in bothQ3 2016: 4.7%, 9 in bothQ4 2016: 5.3%, 11 in bothQ1 2017: 5.8%, 11 in both17Q2 2017: 4.8%, 10 in bothQ3 2017: 7.0%, 7 in bothQ4 2017: 7.3%, 9 in bothQ1 2018: 4.6%, 7 in both18Q2 2018: 9.0%, 11 in bothQ3 2018: 9.8%, 11 in bothQ4 2018: 8.7%, 9 in bothQ1 2019: 8.6%, 8 in both19Q2 2019: 9.1%, 12 in bothQ3 2019: 9.5%, 11 in bothQ4 2019: 15%, 17 in bothQ1 2020: 18%, 14 in both20Q2 2020: 19%, 18 in bothQ3 2020: 16%, 20 in bothQ4 2020: 11%, 14 in bothQ1 2021: 8.5%, 14 in both21Q2 2021: 11%, 18 in bothQ3 2021: 12%, 18 in bothQ4 2021: 11%, 15 in bothQ1 2022: 11%, 12 in both22Q2 2022: 5.6%, 10 in bothQ3 2022: 5.1%, 9 in bothQ4 2022: 3.3%, 7 in bothQ1 2023: 4.3%, 11 in both23Q2 2023: 7.0%, 13 in bothQ3 2023: 9.9%, 12 in bothQ4 2023: 15%, 13 in bothQ1 2024: 20%, 14 in both24Q2 2024: 20%, 14 in bothQ3 2024: 18%, 13 in bothQ4 2024: 15%, 17 in bothQ1 2025: 14%, 17 in both25Q2 2025: 16%, 22 in bothQ3 2025: 20%, 23 in bothQ4 2025: 22%, 19 in bothQ1 2026: 11%, 18 in both26Q2 2026: 15%, 20 in both
  • Q2 2013: 5.5%, 7 in both
  • Q3 2013: 5.0%, 6 in both
  • Q4 2013: 7.8%, 7 in both
  • Q1 2014: 4.4%, 6 in both
  • Q2 2014: 4.8%, 5 in both
  • Q3 2014: 4.5%, 7 in both
  • Q4 2014: 6.7%, 8 in both
  • Q1 2015: 4.3%, 11 in both
  • Q2 2015: 3.5%, 9 in both
  • Q3 2015: 5.8%, 8 in both
  • Q4 2015: 9.7%, 9 in both
  • Q1 2016: 9.4%, 11 in both
  • Q2 2016: 5.6%, 9 in both
  • Q3 2016: 4.7%, 9 in both
  • Q4 2016: 5.3%, 11 in both
  • Q1 2017: 5.8%, 11 in both
  • Q2 2017: 4.8%, 10 in both
  • Q3 2017: 7.0%, 7 in both
  • Q4 2017: 7.3%, 9 in both
  • Q1 2018: 4.6%, 7 in both
  • Q2 2018: 9.0%, 11 in both
  • Q3 2018: 9.8%, 11 in both
  • Q4 2018: 8.7%, 9 in both
  • Q1 2019: 8.6%, 8 in both
  • Q2 2019: 9.1%, 12 in both
  • Q3 2019: 9.5%, 11 in both
  • Q4 2019: 15%, 17 in both
  • Q1 2020: 18%, 14 in both
  • Q2 2020: 19%, 18 in both
  • Q3 2020: 16%, 20 in both
  • Q4 2020: 11%, 14 in both
  • Q1 2021: 8.5%, 14 in both
  • Q2 2021: 11%, 18 in both
  • Q3 2021: 12%, 18 in both
  • Q4 2021: 11%, 15 in both
  • Q1 2022: 11%, 12 in both
  • Q2 2022: 5.6%, 10 in both
  • Q3 2022: 5.1%, 9 in both
  • Q4 2022: 3.3%, 7 in both
  • Q1 2023: 4.3%, 11 in both
  • Q2 2023: 7.0%, 13 in both
  • Q3 2023: 9.9%, 12 in both
  • Q4 2023: 15%, 13 in both
  • Q1 2024: 20%, 14 in both
  • Q2 2024: 20%, 14 in both
  • Q3 2024: 18%, 13 in both
  • Q4 2024: 15%, 17 in both
  • Q1 2025: 14%, 17 in both
  • Q2 2025: 16%, 22 in both
  • Q3 2025: 20%, 23 in both
  • Q4 2025: 22%, 19 in both
  • Q1 2026: 11%, 18 in both
  • Q2 2026: 15%, 20 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.

StockSteadfast Capital Management LPBaillie Gifford & Co
Amazon Com Inc(AMZN)5.4%Added5.8%Trimmed
Nvidia Corporation(NVDA)2.9%Trimmed7.6%Added
Ferrari N V(RACE)2.2%New1.2%Trimmed
Alphabet Inc(GOOGL)1.3%Trimmed0.9%Added
Space Exploration Technologies Corp(SPCX)0.8%New8.0%New
Snowflake Inc(SNOW)1.3%New0.6%Trimmed
Broadcom Inc(AVGO)1.0%Trimmed0.5%Added
Taiwan Semiconductor MFG LTD(TSM)1.4%Trimmed0.4%Trimmed
Axon Enterprise Inc(AXON)0.4%New1.6%Added
Msci Inc(MSCI)1.9%Added0.4%Trimmed
Spotify Technology S A(SPOT)0.3%Trimmed3.3%Trimmed
Facebook Inc(META)0.3%New1.6%Trimmed
Sharkninja Inc(SN)1.4%Trimmed0.3%Trimmed
Draftkings Inc New(DKNG)0.8%New0.2%Trimmed
Analog Devices(ADI)0.5%New0.1%Trimmed
Cisco Sys Inc(CSCO)0.8%Trimmedunder 0.1%Trimmed
Home Depot Inc(HD)3.5%Addedunder 0.1%Trimmed
15675d103(CBRS)under 0.1%Newunder 0.1%New
Bloom Energy Corp(BE)2.0%Newunder 0.1%New
Lumentum HLDGS Inc(LITE)0.6%Addedunder 0.1%New

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 Corporation(NVDA)Steadfast Capital Management LP trimmed; Baillie Gifford & Co added
  • Amazon Com Inc(AMZN)Steadfast Capital Management LP added; Baillie Gifford & Co trimmed
  • Facebook Inc(META)Steadfast Capital Management LP started; Baillie Gifford & Co trimmed
  • Ferrari N V(RACE)Steadfast Capital Management LP started; Baillie Gifford & Co trimmed
  • Alphabet Inc(GOOGL)Steadfast Capital Management LP trimmed; Baillie Gifford & Co added
  • Snowflake Inc(SNOW)Steadfast Capital Management LP started; Baillie Gifford & Co trimmed
  • Broadcom Inc(AVGO)Steadfast Capital Management LP trimmed; Baillie Gifford & Co added
  • Apple Inc(AAPL)Steadfast Capital Management LP sold out; Baillie Gifford & Co added
  • Msci Inc(MSCI)Steadfast Capital Management LP added; Baillie Gifford & Co trimmed
  • Draftkings Inc New(DKNG)Steadfast Capital Management LP started; Baillie Gifford & Co trimmed
  • Analog Devices(ADI)Steadfast Capital Management LP started; Baillie Gifford & Co trimmed
  • Home Depot Inc(HD)Steadfast Capital Management LP added; Baillie Gifford & Co trimmed
Steadfast Capital Management LP: the recordBaillie Gifford & Co: the record

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