L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 23 Jan 2026
Managers listing it
31
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 15 listed it in both
Shares listed
22,184,755
combined, among listed positions
Reported value
$3.2bn
combined, at the quarter end

Among the 92 comparable managers: 7 buyers (opened or added shares) and 25 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +824,615.

Managers listing AER in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

31 of 31 holders

ActionFiling
Harris Associates LP5,840,480$840m1.06%Newnew17 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc4,182,501$601m0.06%Trimmed-5,09917 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP2,053,134$295m0.05%Trimmed-648,66817 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP1,802,200$259m0.50%Trimmed-61,70017 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP1,538,896$221m0.31%Trimmed-47,90417 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.1,509,298$217m0.12%Trimmed-2,004,93817 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC1,292,925$186m0.14%Trimmed-15,34027 Oct 2026 (the filing on sec.gov)
Man Group PLC741,996$107m0.18%Trimmed-764,87517 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC737,659$106m0.37%Trimmed-127,51317 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)607,221$87munder 0.1%Trimmed-237,52217 Feb 2026 (the filing on sec.gov)
Invesco Ltd533,899$77munder 0.1%Added+102,86819 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC269,731$39munder 0.1%Trimmed-115,48817 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC252,692$36munder 0.1%Added+138,83317 Feb 2026 (the filing on sec.gov)
Millennium Management LLC246,014$35munder 0.1%Trimmed-115,51717 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd108,052$16munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC83,950$12munder 0.1%Added+18,94817 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp78,179$11munder 0.1%Trimmed-73,41417 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC64,464$9.3munder 0.1%Added+55,67013 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP61,765$8.9m0.07%Trimmed-23,71817 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP34,702$5.0munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP32,022$4.6munder 0.1%Trimmed-1,11917 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP31,828$4.6munder 0.1%Trimmed-173,59513 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC17,323$2.5munder 0.1%Trimmed-39,59110 Feb 2026 (the filing on sec.gov)
Baillie Gifford & Co16,092$2.3munder 0.1%Held023 Jan 2026 (the filing on sec.gov)
Jane Street Group LLC14,661$2.1munder 0.1%Trimmed-285,18112 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
17 in Q3 2024 to 15 in Q2 2026

Tracked managers listing it, at least.

01020302014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
AER by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20133$281mn.a.n.a.
Q3 20133$347mn.a.n.a.
Q4 20135$559mn.a.n.a.
Q1 201410$1.4bnn.a.n.a.
Q2 201411$1.6bnn.a.n.a.
Q3 201413$1.3bnn.a.n.a.
Q4 201410$845mn.a.n.a.
Q1 201510$1.5bnn.a.n.a.
Q2 201519$2.6bnn.a.n.a.
Q3 201514$2.0bnn.a.n.a.
Q4 20158$2.2bnn.a.n.a.
Q1 20167$1.6bnn.a.n.a.
Q2 20167$886mn.a.n.a.
Q3 20167$1.3bnn.a.n.a.
Q4 20167$1.2bnn.a.n.a.
Q1 20176$1.3bnn.a.n.a.
Q2 20175$783mn.a.n.a.
Q3 20178$1.2bnn.a.n.a.
Q4 20176$996mn.a.n.a.
Q1 20183$840mn.a.n.a.
Q2 20186$927mn.a.n.a.
Q3 20185$1.3bnn.a.n.a.
Q4 20189$901mn.a.n.a.
Q1 20197$907mn.a.n.a.
Q2 20196$1.3bnn.a.n.a.
Q3 20196$1.5bnn.a.n.a.
Q4 201910$1.6bnn.a.n.a.
Q1 20208$484mn.a.n.a.
Q2 202011$680mn.a.n.a.
Q3 20207$543mn.a.n.a.
Q4 202011$988mn.a.n.a.
Q1 202113$1.5bnn.a.n.a.
Q2 202112$1.2bnn.a.n.a.
Q3 202111$1.3bnn.a.n.a.
Q4 202110$1.8bnn.a.n.a.
Q1 20225$1.2bnn.a.n.a.
Q2 20224$854mn.a.n.a.
Q3 20228$1.1bnn.a.n.a.
Q4 20227$1.4bnn.a.n.a.
Q1 202314$1.8bnn.a.n.a.
Q2 202313$1.9bnn.a.n.a.
Q3 202317$2.5bnn.a.n.a.
Q4 202319$3.1bn119
Q1 202423$3.7bn1211
Q2 202422$3.7bn159
Q3 202417$2.6bn99
Q4 202418$2.3bn810
Q1 202517$2.5bn99
Q2 202522$2.7bn129
Q3 202516$2.2bn89
Q4 202513$2.9bn725
Q1 202613$2.6bn1518
Q2 202615$2.4bn249

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

AER and V →AER and MA →AER and MCO →Choose a stock to compare with AER →

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. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own AER, latest filings →Back to the 13F Explorer →