L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 10 Feb 2026
Managers listing it
27
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 3 listed it in both
Shares listed
31,621,553
combined, among listed positions
Reported value
$282m
combined, at the quarter end

Among the 92 comparable managers: 14 buyers (opened or added shares) and 15 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -2,359,489.

Managers listing BGC 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.

27 of 27 holders

ActionFiling
Fidelity (FMR LLC)8,102,607$72munder 0.1%Trimmed-672,82717 Feb 2026 (the filing on sec.gov)
Invesco Ltd6,622,217$59munder 0.1%Trimmed-2,395,26919 Feb 2026 (the filing on sec.gov)
Millennium Management LLC3,136,530$28munder 0.1%Added+1,317,04017 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.2,658,368$24munder 0.1%Added+917,08917 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC2,407,889$22munder 0.1%Added+1,929,09717 Feb 2026 (the filing on sec.gov)
Soros Fund Management LLC2,110,763$19m0.22%Trimmed-2,284,93213 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC916,389$8.2munder 0.1%Added+547,04317 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC862,931$7.7munder 0.1%Added+2,93212 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC769,648$6.9munder 0.1%Trimmed-528,70012 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP699,501$6.2munder 0.1%Trimmed-352,85513 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP491,904$4.4munder 0.1%Added+401,20517 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP450,016$4.0munder 0.1%Added+20,47617 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP409,994$3.7munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
PDT Partners LLC379,651$3.4m0.22%Trimmed-192,72717 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc369,809$3.3munder 0.1%Added+10,30817 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC247,999$2.2munder 0.1%Trimmed-78,43417 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC231,799$2.1munder 0.1%Added+36,06517 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP203,009$1.8munder 0.1%Trimmed-40,06017 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd162,877$1.5munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC136,000$1.2munder 0.1%Trimmed-49,56013 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP88,551$791kunder 0.1%Trimmed-55,97417 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP54,218$484kunder 0.1%Added+38,80017 Feb 2026 (the filing on sec.gov)
Caxton Associates LLP39,728$355kunder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC29,690$265kunder 0.1%Added+24627 Oct 2026 (the filing on sec.gov)
Marshall Wace LLP23,030$206kunder 0.1%Trimmed-750,68913 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.
3 in Q3 2024 to 3 in Q2 2026

Tracked managers listing it, at least.

0246Q3 2023Q1 2024Q3 2024Q1 2025Q3 2025Q1 2026Q2 2026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
BGC by quarter
QuarterHoldersReported valueBuyersSellers
Q3 20232$15mn.a.n.a.
Q4 20233$21m11
Q1 20246$38m32
Q2 20244$21m30
Q3 20243$21m21
Q4 20244$22m31
Q1 20253$33m31
Q2 20254$51m40
Q3 20253$49m21
Q4 20252$22m1415
Q1 20262$48m2110
Q2 20263$114m1418

Compare with…

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

BGC and V →BGC and AXP →BGC and BAC →Choose a stock to compare with BGC →

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