L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
31
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 10 listed it in both
Shares listed
33,111,923
combined, among listed positions
Reported value
$8.2bn
combined, at the quarter end

Among the 92 comparable managers: 20 buyers (opened or added shares) and 11 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +1,286,582.

Managers listing APD 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
Capital Research Global Investors11,904,537$2.9bn0.54%Added+137,59511 Feb 2026 (the filing on sec.gov)
Dodge & Cox9,236,610$2.3bn1.23%Added+231,71813 Feb 2026 (the filing on sec.gov)
Viking Global Investors LP4,782,534$1.2bn3.14%Added+1,115,41517 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,631,039$403m0.06%Added+668,49017 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)1,288,315$318munder 0.1%Trimmed-139,32117 Feb 2026 (the filing on sec.gov)
Invesco Ltd1,215,303$300munder 0.1%Trimmed-665,34919 Feb 2026 (the filing on sec.gov)
MFS Investment Management835,033$206m0.07%Trimmed-321,52522 Jan 2026 (the filing on sec.gov)
Neuberger Berman Group LLC412,754$102m0.08%Trimmed-112,02427 Oct 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc330,125$82munder 0.1%Added+1,76717 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP244,423$60m0.07%Added+175,85217 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP224,763$56munder 0.1%Trimmed-7,92617 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.199,760$49munder 0.1%Added+198,59317 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC163,633$40m0.05%Added+127,32317 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP97,822$24munder 0.1%Added+62,47417 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC94,269$23munder 0.1%Added+88,33313 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp79,806$20munder 0.1%Added+20,81117 Feb 2026 (the filing on sec.gov)
Markel Group Inc71,500$18m0.14%Added+6,5006 Feb 2026 (the filing on sec.gov)
Millennium Management LLC63,676$16munder 0.1%Added+40,58417 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP49,018$12munder 0.1%Added+3,94317 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd48,072$12munder 0.1%Added+45417 Feb 2026 (the filing on sec.gov)
Capital World Investors45,664$11munder 0.1%Held011 Feb 2026 (the filing on sec.gov)
Man Group PLC26,773$6.6munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC26,739$6.6munder 0.1%Added+2,06713 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC23,236$5.7munder 0.1%Trimmed-3,13717 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC4,304$1.1munder 0.1%Newnew13 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.
14 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.
APD by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201313$2.8bnn.a.n.a.
Q3 201316$3.8bnn.a.n.a.
Q4 201316$3.5bnn.a.n.a.
Q1 201415$3.6bnn.a.n.a.
Q2 201415$4.2bnn.a.n.a.
Q3 201423$4.8bnn.a.n.a.
Q4 201421$5.6bnn.a.n.a.
Q1 201523$6.4bnn.a.n.a.
Q2 201524$5.7bnn.a.n.a.
Q3 201524$5.6bnn.a.n.a.
Q4 201523$6.0bnn.a.n.a.
Q1 201617$4.5bnn.a.n.a.
Q2 201622$5.0bnn.a.n.a.
Q3 201625$4.3bnn.a.n.a.
Q4 201625$4.4bnn.a.n.a.
Q1 201729$3.8bnn.a.n.a.
Q2 201726$3.6bnn.a.n.a.
Q3 201727$4.9bnn.a.n.a.
Q4 201727$4.7bnn.a.n.a.
Q1 201821$4.2bnn.a.n.a.
Q2 201823$4.0bnn.a.n.a.
Q3 201826$4.3bnn.a.n.a.
Q4 201823$3.7bnn.a.n.a.
Q1 201914$4.1bnn.a.n.a.
Q2 201915$4.6bnn.a.n.a.
Q3 201916$4.2bnn.a.n.a.
Q4 201920$4.5bnn.a.n.a.
Q1 202022$3.5bnn.a.n.a.
Q2 202020$3.8bnn.a.n.a.
Q3 202022$4.8bnn.a.n.a.
Q4 202029$3.6bnn.a.n.a.
Q1 202122$3.1bnn.a.n.a.
Q2 202123$3.0bnn.a.n.a.
Q3 202121$2.5bnn.a.n.a.
Q4 202124$4.2bnn.a.n.a.
Q1 202226$3.1bnn.a.n.a.
Q2 202220$2.3bnn.a.n.a.
Q3 202218$2.1bnn.a.n.a.
Q4 202219$3.8bnn.a.n.a.
Q1 202327$3.9bnn.a.n.a.
Q2 202323$3.7bnn.a.n.a.
Q3 202323$3.8bnn.a.n.a.
Q4 202318$3.9bn109
Q1 202417$4.5bn116
Q2 202413$5.7bn87
Q3 202414$8.6bn76
Q4 202413$7.8bn94
Q1 202511$8.4bn55
Q2 202513$7.7bn83
Q3 202510$8.0bn53
Q4 202511$7.3bn2011
Q1 202615$9.2bn2414
Q2 202615$9.0bn1821

Compare with…

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

APD and LIN →APD and GLW →APD and HWM →Choose a stock to compare with APD →

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 APD, latest filings →Back to the 13F Explorer →