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
20
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 1 listed it in both
Shares listed
35,782,630
combined, among listed positions
Reported value
$74m
combined, at the quarter end

Among the 92 comparable managers: 13 buyers (opened or added shares) and 6 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -1,622,364.

Managers listing CERS 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.

20 of 20 holders

ActionFiling
ARK Investment Management LLC18,200,204$37m0.25%Trimmed-649,98411 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.3,873,371$8.0munder 0.1%Added+54,31917 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC3,278,111$6.7munder 0.1%Added+386,44010 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC2,003,198$4.1munder 0.1%Trimmed-450,83217 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP1,857,110$3.8munder 0.1%Added+712,67817 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP1,397,900$2.9munder 0.1%Added+423,90017 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)1,033,272$2.1munder 0.1%Added+203,09917 Feb 2026 (the filing on sec.gov)
Millennium Management LLC967,694$2.0munder 0.1%Trimmed-2,502,36817 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC945,020$1.9munder 0.1%Added+45,42217 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC498,000$1.0munder 0.1%Trimmed-341,50012 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP369,307$761kunder 0.1%Added+199,29617 Feb 2026 (the filing on sec.gov)
Invesco Ltd309,168$637kunder 0.1%Added+69,08719 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP255,961$527kunder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC253,570$522kunder 0.1%Trimmed-160,68312 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP220,129$453kunder 0.1%Trimmed-11,59217 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc111,048$229kunder 0.1%Added+17,77017 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC101,983$210kunder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC70,257$145kunder 0.1%Held013 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP23,453$48kunder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC13,874$29kunder 0.1%Added+1,18727 Oct 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

Reductions

New positions and exits

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

Exited (0)

No exit shown by a manager’s own filing.

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.
1 in Q3 2024 to 1 in Q2 2026

Tracked managers listing it, at least.

01232017201820192020202120222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
CERS by quarter
QuarterHoldersReported valueBuyersSellers
Q4 20161$2.9mn.a.n.a.
Q1 20171$3.3mn.a.n.a.
Q2 20171$4.2mn.a.n.a.
Q3 20171$7.3mn.a.n.a.
Q4 20171$12mn.a.n.a.
Q1 20182$30mn.a.n.a.
Q2 20182$39mn.a.n.a.
Q3 20182$47mn.a.n.a.
Q4 20182$35mn.a.n.a.
Q1 20191$48mn.a.n.a.
Q2 20191$48mn.a.n.a.
Q3 20191$45mn.a.n.a.
Q4 20191$40mn.a.n.a.
Q1 20201$65mn.a.n.a.
Q2 20201$144mn.a.n.a.
Q3 20201$188mn.a.n.a.
Q4 20203$205mn.a.n.a.
Q1 20213$154mn.a.n.a.
Q2 20212$124mn.a.n.a.
Q3 20212$104mn.a.n.a.
Q4 20212$107mn.a.n.a.
Q1 20223$90mn.a.n.a.
Q2 20223$86mn.a.n.a.
Q3 20223$61mn.a.n.a.
Q4 20223$59mn.a.n.a.
Q1 20232$66mn.a.n.a.
Q2 20231$51mn.a.n.a.
Q3 20231$33mn.a.n.a.
Q4 20231$45m10
Q1 20241$41m10
Q2 20241$35m01
Q3 20241$32m01
Q4 20241$32m10
Q1 20251$29m01
Q2 20251$27m01
Q3 20251$30m01
Q4 20251$37m136
Q1 20261$35m109
Q2 20261$52m137

Compare with…

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

CERS and LLY →CERS and JNJ →CERS and VRTX →Choose a stock to compare with CERS →

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