- Quarter end
- 31 Dec 2025
- the date the book describes
- Filed
- 27 Oct 2026
- latest of these filings; the earliest 4 Feb 2026
- Managers listing it
- 10
- at least, of 95 tracked, among listed positions
- Comparable managers
- 92
- filed both Q3 2025 and Q4 2025; 4 listed it in both
- Shares listed
- 6,077,192
- combined, among listed positions
- Reported value
- $555m
- combined, at the quarter end
Among the 92 comparable managers: 7 buyers (opened or added shares) and 4 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +530,882.
Managers listing BIL 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.
10 of 10 holders
| Action | Filing | |||||
|---|---|---|---|---|---|---|
| AQR Capital Management LLC | 4,617,074 | $422m | 0.22% | Added | +119,959 | 17 Feb 2026 (the filing on sec.gov) |
| First Eagle Investment Management LLC | 712,283 | $65m | 0.11% | Added | +311,567 | 4 Feb 2026 (the filing on sec.gov) |
| Capital World Investors | 381,762 | $35m | under 0.1% | Added | +99,718 | 11 Feb 2026 (the filing on sec.gov) |
| Jane Street Group LLC | 148,850 | $14m | under 0.1% | Added | +49,298 | 12 Feb 2026 (the filing on sec.gov) |
| Susquehanna International Group LLP | 102,768 | $9.4m | under 0.1% | Trimmed | -34,082 | 17 Feb 2026 (the filing on sec.gov) |
| Capital Research Global Investors | 49,385 | $4.5m | under 0.1% | Added | +5,170 | 11 Feb 2026 (the filing on sec.gov) |
| AllianceBernstein LP | 32,242 | $2.9m | under 0.1% | Trimmed | -6,083 | 17 Feb 2026 (the filing on sec.gov) |
| Neuberger Berman Group LLC | 22,150 | $2.0m | under 0.1% | New | new | 27 Oct 2026 (the filing on sec.gov) |
| Millennium Management LLC | 8,522 | $779k | under 0.1% | New | new | 17 Feb 2026 (the filing on sec.gov) |
| Fidelity (FMR LLC) | 2,156 | $197k | under 0.1% | Trimmed | -20,393 | 17 Feb 2026 (the filing on sec.gov) |
Largest increases and reductions, by shares
Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.
Increases
- First Eagle Investment Management LLCexisting position · 712,283 shares now+311,567
- AQR Capital Management LLCexisting position · 4,617,074 shares now+119,959
- Capital World Investorsexisting position · 381,762 shares now+99,718
- Jane Street Group LLCexisting position · 148,850 shares now+49,298
- Neuberger Berman Group LLCnew position · 22,150 shares now+22,150
Reductions
- Susquehanna International Group LLPexisting position · 102,768 shares now-34,082
- Fidelity (FMR LLC)existing position · 2,156 shares now-20,393
- AllianceBernstein LPexisting position · 32,242 shares now-6,083
New positions and exits
At least these many: a manager is shown exiting only where its own filing shows the position gone.
New (2)
Exited (1)
- Citadel Advisors LLCwas $2.3m
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.
5 in Q3 2024 to 3 in Q2 2026
Tracked managers listing it, at least.
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q3 2018 | 1 | $13m | n.a. | n.a. |
| Q2 2019 | 1 | $164m | n.a. | n.a. |
| Q2 2021 | 1 | $130m | n.a. | n.a. |
| Q3 2022 | 1 | $67m | n.a. | n.a. |
| Q1 2023 | 2 | $232m | n.a. | n.a. |
| Q2 2023 | 3 | $203m | n.a. | n.a. |
| Q3 2023 | 2 | $81m | n.a. | n.a. |
| Q4 2023 | 5 | $186m | 4 | 1 |
| Q1 2024 | 7 | $351m | 3 | 3 |
| Q2 2024 | 5 | $152m | 3 | 1 |
| Q3 2024 | 5 | $152m | 3 | 2 |
| Q4 2024 | 5 | $237m | 2 | 4 |
| Q1 2025 | 6 | $276m | 5 | 1 |
| Q2 2025 | 4 | $282m | 4 | 2 |
| Q3 2025 | 4 | $479m | 1 | 3 |
| Q4 2025 | 4 | $526m | 7 | 4 |
| Q1 2026 | 5 | $674m | 8 | 4 |
| Q2 2026 | 3 | $621m | 6 | 6 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
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 BIL, latest filings →Back to the 13F Explorer →