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
28
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 11 listed it in both
Shares listed
10,604,609
combined, among listed positions
Reported value
$1.3bn
combined, at the quarter end

Among the 92 comparable managers: 18 buyers (opened or added shares) and 13 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +401,172.

Managers listing DTM 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.

28 of 28 holders

ActionFiling
Neuberger Berman Group LLC2,782,736$333m0.25%Trimmed-14,35727 Oct 2026 (the filing on sec.gov)
Citadel Advisors LLC1,372,178$164munder 0.1%Added+56,08517 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors1,249,418$150munder 0.1%Added+31711 Feb 2026 (the filing on sec.gov)
Invesco Ltd1,045,754$125munder 0.1%Added+47,03019 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP694,476$83m0.09%Trimmed-163,82617 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP667,367$80m0.11%Added+383,92017 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP390,100$47m0.09%Added+296,70017 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP369,738$44m0.09%Trimmed-184,32117 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP270,145$32m0.12%Trimmed-36,68413 Feb 2026 (the filing on sec.gov)
Freestone Grove Partners LP244,914$29m0.21%Added+131,41117 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC210,012$25m0.09%Added+18,12917 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC204,242$24munder 0.1%Added+196,28313 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC198,434$24m0.09%Trimmed-37,36713 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP146,733$18munder 0.1%Added+28,40917 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC139,335$17munder 0.1%Trimmed-64,38517 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP135,126$16munder 0.1%Added+6,81217 Feb 2026 (the filing on sec.gov)
Moore Capital Management LP100,000$12m0.17%Newnew17 Feb 2026 (the filing on sec.gov)
Man Group PLC91,578$11munder 0.1%Added+37,60617 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc80,699$9.7munder 0.1%Added+1,77517 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)80,701$9.7munder 0.1%Added+17,07117 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd44,070$5.3munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC24,998$3.0munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP22,309$2.7munder 0.1%Trimmed-73217 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC15,785$1.9munder 0.1%Trimmed-118,72512 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP7,996$957kunder 0.1%Newnew17 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.
6 in Q3 2024 to 8 in Q2 2026

Tracked managers listing it, at least.

05101520222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
DTM by quarter
QuarterHoldersReported valueBuyersSellers
Q3 20217$432mn.a.n.a.
Q4 20214$262mn.a.n.a.
Q1 20227$186mn.a.n.a.
Q2 20226$300mn.a.n.a.
Q3 20227$376mn.a.n.a.
Q4 20228$364mn.a.n.a.
Q1 20233$115mn.a.n.a.
Q2 20236$114mn.a.n.a.
Q3 20234$99mn.a.n.a.
Q4 20232$89m11
Q1 20247$220m60
Q2 20244$252m22
Q3 20246$283m42
Q4 202411$498m82
Q1 202514$698m114
Q2 202512$743m95
Q3 202511$760m92
Q4 202512$860m1813
Q1 202610$933m1814
Q2 20268$950m1617

Compare with…

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

DTM and GEV →DTM and XOM →DTM and CVX →Choose a stock to compare with DTM →

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