L3VLUP
Quarter end
30 Sep 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 29 Oct 2025
Managers listing it
48
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q2 2025 and Q3 2025; 43 listed it in both
Shares listed
99,444,720
combined, among listed positions
Reported value
$23.6bn
combined, at the quarter end

Among the 95 comparable managers: 23 buyers (opened or added shares) and 25 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 Q3 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q2 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

48 of 48 holders

ActionFiling
Capital World Investors17,325,206$4.1bn0.56%Added+10,636,16113 Nov 2025 (the filing on sec.gov)
Fidelity (FMR LLC)9,870,816$2.3bn0.12%Trimmed-2,625,40413 Nov 2025 (the filing on sec.gov)
Capital Research Global Investors9,241,798$2.2bn0.41%Trimmed-2,145,60313 Nov 2025 (the filing on sec.gov)
T. Rowe Price Associates Inc7,256,864$1.7bn0.18%Trimmed-886,62614 Nov 2025 (the filing on sec.gov)
Invesco Ltd7,155,512$1.7bn0.27%Added+754,11613 Nov 2025 (the filing on sec.gov)
Harris Associates LP7,046,580$1.7bn2.68%Added+4,053,99414 Nov 2025 (the filing on sec.gov)
MFS Investment Management3,875,239$918m0.28%Trimmed-441,39029 Oct 2025 (the filing on sec.gov)
First Eagle Investment Management LLC3,690,824$875m1.59%Added+475,49512 Nov 2025 (the filing on sec.gov)
Arrowstreet Capital LP3,645,252$864m0.54%Added+1,165,26313 Nov 2025 (the filing on sec.gov)
AllianceBernstein LP3,333,323$790m0.25%Added+343,02414 Nov 2025 (the filing on sec.gov)
ValueAct Holdings LP2,898,509$687m11.59%Held014 Nov 2025 (the filing on sec.gov)
D. E. Shaw & Co.2,691,324$638m0.36%Added+1,840,28414 Nov 2025 (the filing on sec.gov)
Farallon Capital Management LLC2,462,310$584m2.39%Added+353,20017 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP2,007,027$476m1.86%Added+367,42613 Nov 2025 (the filing on sec.gov)
Jane Street Group LLC1,694,734$402m0.06%Added+1,250,79714 Nov 2025 (the filing on sec.gov)
Acadian Asset Management LLC1,507,789$357m0.62%Trimmed-465,35213 Nov 2025 (the filing on sec.gov)
Two Sigma Advisers LP1,314,300$311m0.62%Trimmed-840,00014 Nov 2025 (the filing on sec.gov)
Starboard Value LP1,242,150$294m5.54%Trimmed-10,09714 Nov 2025 (the filing on sec.gov)
AQR Capital Management LLC1,153,649$273m0.18%Trimmed-11,45214 Nov 2025 (the filing on sec.gov)
Baillie Gifford & Co1,120,363$266m0.20%Trimmed-42,75631 Oct 2025 (the filing on sec.gov)
Two Sigma Investments LP991,388$235m0.35%Trimmed-1,99914 Nov 2025 (the filing on sec.gov)
Marshall Wace LLP958,317$227m0.23%Trimmed-870,68713 Nov 2025 (the filing on sec.gov)
Wellington Management Group LLP914,858$217munder 0.1%Trimmed-5,283,16214 Nov 2025 (the filing on sec.gov)
Man Group PLC885,444$210m0.36%Trimmed-409,39314 Nov 2025 (the filing on sec.gov)
Neuberger Berman Group LLC748,809$177m0.13%Trimmed-362,05527 Oct 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q2 2025 to Q3 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 →