Holders over time
- ECL
- PM
| Quarter | ECL | PM |
|---|---|---|
| Q3 2020 | 21 holders, $2.4bn | 25 holders, $19.7bn |
| Q4 2020 | 13 holders, $2.4bn | 25 holders, $21.5bn |
| Q1 2021 | 15 holders, $2.4bn | 27 holders, $22.1bn |
| Q2 2021 | 21 holders, $2.8bn | 20 holders, $23.2bn |
| Q3 2021 | 14 holders, $2.7bn | 25 holders, $22.8bn |
| Q4 2021 | 15 holders, $3.5bn | 26 holders, $22.3bn |
| Q1 2022 | 18 holders, $3.3bn | 29 holders, $23.2bn |
| Q2 2022 | 17 holders, $2.9bn | 28 holders, $25.8bn |
| Q3 2022 | 16 holders, $2.6bn | 33 holders, $22.2bn |
| Q4 2022 | 18 holders, $3.0bn | 26 holders, $27.0bn |
| Q1 2023 | 18 holders, $3.5bn | 36 holders, $27.6bn |
| Q2 2023 | 18 holders, $3.5bn | 29 holders, $28.9bn |
| Q3 2023 | 17 holders, $2.9bn | 32 holders, $28.5bn |
| Q4 2023 | 17 holders, $2.9bn | 34 holders, $28.8bn |
| Q1 2024 | 22 holders, $4.2bn | 36 holders, $28.4bn |
| Q2 2024 | 20 holders, $4.7bn | 31 holders, $31.4bn |
| Q3 2024 | 24 holders, $4.9bn | 39 holders, $38.2bn |
| Q4 2024 | 23 holders, $4.4bn | 40 holders, $36.6bn |
| Q1 2025 | 29 holders, $4.9bn | 44 holders, $49.1bn |
| Q2 2025 | 25 holders, $5.1bn | 44 holders, $54.3bn |
| Q3 2025 | 25 holders, $5.0bn | 36 holders, $49.3bn |
| Q4 2025 | 23 holders, $4.6bn | 26 holders, $50.5bn |
| Q1 2026 | 24 holders, $4.5bn | 25 holders, $57.3bn |
| Q2 2026 | 23 holders, $4.1bn | 27 holders, $63.8bn |
Ecolab Inc
- Holders
- 17
- Reported value
- $2.9bn
- Buyers
- 9
- Sellers
- 7
Breadth +2 among 93 comparable managers.
Philip Morris Intl Inc
- Holders
- 34
- Reported value
- $28.8bn
- Buyers
- 16
- Sellers
- 17
Breadth -1 among 93 comparable managers.
Who holds both, Q4 2023
Both (10)
Acadian Asset Management LLC, Artisan Partners LP, Invesco Ltd, Markel Group Inc, Neuberger Berman Group LLC, Point72 Asset Management LP, Schonfeld Strategic Advisors LLC, Two Sigma Advisers LP, Two Sigma Investments LP, Wellington Management Group LLP
Only ECL (7)
Baillie Gifford & Co, Brevan Howard Capital Management LP, GAMCO Investors Inc, Man Group PLC, Renaissance Technologies LLC, Verition Fund Management LLC, Walleye Capital LLC
Only PM (24)
AllianceBernstein LP, AQR Capital Management LLC, Bridgewater Associates LP, Capital Research Global Investors, Capital World Investors, Citadel Advisors LLC, D1 Capital Partners LP, Dodge & Cox, Eisler Capital Management Ltd, Fidelity (FMR LLC), First Eagle Investment Management LLC, Harris Associates LP, Holocene Advisors LP, Hudson Bay Capital Management LP, Lone Pine Capital LLC, Maverick Capital Ltd, MFS Investment Management, Millennium Management LLC, Quantbot Technologies LP, Squarepoint Ops LLC, T. Rowe Price Associates Inc, Tudor Investment Corp, Viking Global Investors LP, Voloridge Investment Management LLC
How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. Buyers and sellers count comparable managers (those that filed both quarters) by shares, so a rise in value with no rise in shares is the price. Large books are listed to their largest positions. These are 95 tracked managers, not the institutional market.