L3VLUP
Quarter end
30 Jun 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 30 Jul 2025
Managers listing it
47
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q1 2025 and Q2 2025; 44 listed it in both
Shares listed
95,744,745
combined, among listed positions
Reported value
$26.1bn
combined, at the quarter end

Among the 95 comparable managers: 27 buyers (opened or added shares) and 20 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.

Managers listing CRM in Q2 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q1 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

47 of 47 holders

ActionFiling
Fidelity (FMR LLC)12,496,220$3.4bn0.19%Trimmed-4,886,49014 Aug 2025 (the filing on sec.gov)
Capital Research Global Investors11,387,401$3.1bn0.62%Trimmed-9,395,61113 Aug 2025 (the filing on sec.gov)
T. Rowe Price Associates Inc8,143,490$2.2bn0.25%Added+834,09014 Aug 2025 (the filing on sec.gov)
Capital World Investors6,689,045$1.8bn0.27%Trimmed-245,33413 Aug 2025 (the filing on sec.gov)
Invesco Ltd6,401,396$1.7bn0.30%Trimmed-1,159,97813 Aug 2025 (the filing on sec.gov)
Wellington Management Group LLP6,198,020$1.7bn0.31%Trimmed-1,411,82814 Aug 2025 (the filing on sec.gov)
MFS Investment Management4,316,629$1.2bn0.37%Trimmed-2,121,2128 Aug 2025 (the filing on sec.gov)
First Eagle Investment Management LLC3,215,329$877m1.72%Added+845,3896 Aug 2025 (the filing on sec.gov)
Harris Associates LP2,992,586$816m1.33%Added+2,666,90314 Aug 2025 (the filing on sec.gov)
AllianceBernstein LP2,990,299$815m0.27%Added+145,86214 Aug 2025 (the filing on sec.gov)
ValueAct Holdings LP2,898,509$790m14.12%Held014 Aug 2025 (the filing on sec.gov)
Arrowstreet Capital LP2,479,989$676m0.48%Added+894,46913 Aug 2025 (the filing on sec.gov)
Two Sigma Advisers LP2,154,300$587m1.20%Added+524,30014 Aug 2025 (the filing on sec.gov)
Farallon Capital Management LLC2,109,110$575m2.42%Added+142,00014 Aug 2025 (the filing on sec.gov)
Acadian Asset Management LLC1,973,141$538m1.11%Added+1,865,2977 Aug 2025 (the filing on sec.gov)
Lone Pine Capital LLC1,863,179$508m3.62%Added+131,49914 Aug 2025 (the filing on sec.gov)
Marshall Wace LLP1,829,004$499m0.56%Trimmed-98,86413 Aug 2025 (the filing on sec.gov)
Bridgewater Associates LP1,639,601$447m1.80%Added+597,70913 Aug 2025 (the filing on sec.gov)
Man Group PLC1,294,837$353m0.67%Added+944,82814 Aug 2025 (the filing on sec.gov)
Starboard Value LP1,252,247$341m5.92%Added+402,56814 Aug 2025 (the filing on sec.gov)
AQR Capital Management LLC1,165,101$318m0.26%Added+636,14814 Aug 2025 (the filing on sec.gov)
Baillie Gifford & Co1,163,119$317m0.24%Trimmed-34,7776 Aug 2025 (the filing on sec.gov)
Neuberger Berman Group LLC1,110,864$303m0.23%Trimmed-455,26527 Oct 2026 (the filing on sec.gov)
Two Sigma Investments LP993,387$271m0.48%Added+27,66314 Aug 2025 (the filing on sec.gov)
Millennium Management LLC902,523$246m0.12%Added+424,98414 Aug 2025 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q1 2025 to Q2 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.
38 in Q3 2024 to 31 in Q2 2026

Tracked managers listing it, at least.

02040602014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
CRM by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201316$7.4bnn.a.n.a.
Q3 201320$10.2bnn.a.n.a.
Q4 201318$10.8bnn.a.n.a.
Q1 201417$11.1bnn.a.n.a.
Q2 201419$11.8bnn.a.n.a.
Q3 201424$11.8bnn.a.n.a.
Q4 201417$11.9bnn.a.n.a.
Q1 201516$14.1bnn.a.n.a.
Q2 201526$14.8bnn.a.n.a.
Q3 201524$14.4bnn.a.n.a.
Q4 201524$15.3bnn.a.n.a.
Q1 201625$14.6bnn.a.n.a.
Q2 201629$15.7bnn.a.n.a.
Q3 201625$13.7bnn.a.n.a.
Q4 201632$13.6bnn.a.n.a.
Q1 201737$16.8bnn.a.n.a.
Q2 201731$18.7bnn.a.n.a.
Q3 201736$19.6bnn.a.n.a.
Q4 201735$21.7bnn.a.n.a.
Q1 201839$23.7bnn.a.n.a.
Q2 201838$26.9bnn.a.n.a.
Q3 201845$29.7bnn.a.n.a.
Q4 201836$25.5bnn.a.n.a.
Q1 201940$28.3bnn.a.n.a.
Q2 201936$28.6bnn.a.n.a.
Q3 201943$32.5bnn.a.n.a.
Q4 201941$35.0bnn.a.n.a.
Q1 202040$29.3bnn.a.n.a.
Q2 202039$37.7bnn.a.n.a.
Q3 202038$48.3bnn.a.n.a.
Q4 202035$41.8bnn.a.n.a.
Q1 202137$36.8bnn.a.n.a.
Q2 202141$43.4bnn.a.n.a.
Q3 202142$47.4bnn.a.n.a.
Q4 202138$41.9bnn.a.n.a.
Q1 202235$32.7bnn.a.n.a.
Q2 202238$25.7bnn.a.n.a.
Q3 202242$20.6bnn.a.n.a.
Q4 202246$22.9bnn.a.n.a.
Q1 202347$30.1bnn.a.n.a.
Q2 202344$30.0bnn.a.n.a.
Q3 202348$28.7bnn.a.n.a.
Q4 202351$36.8bn2922
Q1 202452$41.9bn2526
Q2 202441$33.9bn2324
Q3 202438$32.5bn1722
Q4 202453$40.1bn3517
Q1 202552$28.7bn2928
Q2 202547$26.1bn2720
Q3 202548$23.6bn2325
Q4 202540$26.0bn2133
Q1 202634$20.5bn1831
Q2 202631$16.2bn2420

Compare with…

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

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