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← Two Sigma Investments LP, its record

Two Sigma Investments LP and AQR Capital Management LLC: where the books meet

At Q2 2026, at least 29% of the two 13F books was the same, across 212 stocks both listed, against 24% 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%16%31%Q2 2013: 24%, 178 in bothQ3 2013: 26%, 180 in bothQ4 2013: 24%, 176 in bothQ1 2014: 22%, 190 in both14Q2 2014: 25%, 197 in bothQ3 2014: 31%, 203 in bothQ4 2014: 26%, 193 in bothQ1 2015: 27%, 206 in both15Q2 2015: 25%, 197 in bothQ3 2015: 30%, 220 in bothQ4 2015: 26%, 204 in bothQ1 2016: 24%, 181 in both16Q2 2016: 26%, 194 in bothQ3 2016: 27%, 196 in bothQ4 2016: 22%, 178 in bothQ1 2017: 24%, 192 in both17Q2 2017: 26%, 191 in bothQ3 2017: 27%, 208 in bothQ4 2017: 26%, 204 in bothQ1 2018: 26%, 188 in both18Q2 2018: 27%, 219 in bothQ3 2018: 31%, 232 in bothQ4 2018: 26%, 217 in bothQ1 2019: 22%, 182 in both19Q2 2019: 23%, 179 in bothQ3 2019: 27%, 188 in bothQ4 2019: 26%, 182 in bothQ1 2020: 23%, 155 in both20Q2 2020: 30%, 180 in bothQ3 2020: 28%, 179 in bothQ4 2020: 27%, 170 in bothQ1 2021: 22%, 146 in both21Q2 2021: 21%, 156 in bothQ3 2021: 22%, 153 in bothQ4 2021: 24%, 169 in bothQ1 2022: 24%, 173 in both22Q2 2022: 26%, 172 in bothQ3 2022: 27%, 172 in bothQ4 2022: 25%, 174 in bothQ1 2023: 22%, 169 in both23Q2 2023: 22%, 174 in bothQ3 2023: 27%, 190 in bothQ4 2023: 24%, 183 in bothQ1 2024: 25%, 186 in both24Q2 2024: 24%, 180 in bothQ3 2024: 26%, 197 in bothQ4 2024: 26%, 185 in bothQ1 2025: 28%, 187 in both25Q2 2025: 27%, 185 in bothQ3 2025: 26%, 187 in bothQ4 2025: 25%, 189 in bothQ1 2026: 31%, 207 in both26Q2 2026: 29%, 212 in both
  • Q2 2013: 24%, 178 in both
  • Q3 2013: 26%, 180 in both
  • Q4 2013: 24%, 176 in both
  • Q1 2014: 22%, 190 in both
  • Q2 2014: 25%, 197 in both
  • Q3 2014: 31%, 203 in both
  • Q4 2014: 26%, 193 in both
  • Q1 2015: 27%, 206 in both
  • Q2 2015: 25%, 197 in both
  • Q3 2015: 30%, 220 in both
  • Q4 2015: 26%, 204 in both
  • Q1 2016: 24%, 181 in both
  • Q2 2016: 26%, 194 in both
  • Q3 2016: 27%, 196 in both
  • Q4 2016: 22%, 178 in both
  • Q1 2017: 24%, 192 in both
  • Q2 2017: 26%, 191 in both
  • Q3 2017: 27%, 208 in both
  • Q4 2017: 26%, 204 in both
  • Q1 2018: 26%, 188 in both
  • Q2 2018: 27%, 219 in both
  • Q3 2018: 31%, 232 in both
  • Q4 2018: 26%, 217 in both
  • Q1 2019: 22%, 182 in both
  • Q2 2019: 23%, 179 in both
  • Q3 2019: 27%, 188 in both
  • Q4 2019: 26%, 182 in both
  • Q1 2020: 23%, 155 in both
  • Q2 2020: 30%, 180 in both
  • Q3 2020: 28%, 179 in both
  • Q4 2020: 27%, 170 in both
  • Q1 2021: 22%, 146 in both
  • Q2 2021: 21%, 156 in both
  • Q3 2021: 22%, 153 in both
  • Q4 2021: 24%, 169 in both
  • Q1 2022: 24%, 173 in both
  • Q2 2022: 26%, 172 in both
  • Q3 2022: 27%, 172 in both
  • Q4 2022: 25%, 174 in both
  • Q1 2023: 22%, 169 in both
  • Q2 2023: 22%, 174 in both
  • Q3 2023: 27%, 190 in both
  • Q4 2023: 24%, 183 in both
  • Q1 2024: 25%, 186 in both
  • Q2 2024: 24%, 180 in both
  • Q3 2024: 26%, 197 in both
  • Q4 2024: 26%, 185 in both
  • Q1 2025: 28%, 187 in both
  • Q2 2025: 27%, 185 in both
  • Q3 2025: 26%, 187 in both
  • Q4 2025: 25%, 189 in both
  • Q1 2026: 31%, 207 in both
  • Q2 2026: 29%, 212 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.

StockTwo Sigma Investments LPAQR Capital Management LLC
Amazon Com Inc(AMZN)1.0%Trimmed1.0%Added
Nvidia Corp(NVDA)0.9%Trimmed2.6%Added
Apple Inc(AAPL)0.9%Trimmed1.7%Added
Alphabet Inc(GOOGL)0.6%Trimmed0.7%Added
Microsoft Corp(MSFT)0.5%Added1.5%Added
Micron Technology Inc(MU)0.4%Trimmed1.5%Trimmed
Tesla MTRS Inc(TSLA)0.9%Trimmed0.4%Added
Bristol Myers Squibb Co(BMY)0.4%Trimmed0.5%Trimmed
Berkshire Hathaway Inc Del(BRK-B)0.8%Added0.4%Added
Costco WHSL Corp New(COST)0.7%Added0.4%Added
Airbnb Inc(ABNB)0.4%Added0.5%Added
General MTRS Co(GM)0.3%Added0.4%Added
TJX Cos Inc New(TJX)0.5%Trimmed0.3%Added
SanDisk Corp(SNDK)0.4%Trimmed0.3%Trimmed
Advanced Micro Devices Inc(AMD)0.6%Added0.3%Added
JPMorgan Chase & Co(JPM)0.7%Trimmed0.3%Added
Wells Fargo & Co New(WFC)0.4%Added0.3%Added
Citigroup Inc(C)0.6%Added0.3%Added
Centene Corp Del(CNC)0.3%Trimmed0.6%Trimmed
Facebook Inc(META)0.3%Trimmed0.4%Added

and 192 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)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Apple Inc(AAPL)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Amazon Com Inc(AMZN)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Broadcom Inc(AVGO)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Alphabet Inc(GOOGL)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Lam Research Corp(LRCX)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Intel Corp(INTC)Two Sigma Investments LP added; AQR Capital Management LLC trimmed
  • Edison Intl(EIX)Two Sigma Investments LP added; AQR Capital Management LLC trimmed
  • Tesla MTRS Inc(TSLA)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Facebook Inc(META)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • Teradyne Inc(TER)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
  • TJX Cos Inc New(TJX)Two Sigma Investments LP trimmed; AQR Capital Management LLC added
Two Sigma Investments LP: the recordAQR Capital Management LLC: the record

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