L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 23 Jan 2026
Managers listing it
29
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 13 listed it in both
Shares listed
27,198,180
combined, among listed positions
Reported value
$1.8bn
combined, at the quarter end

Among the 92 comparable managers: 16 buyers (opened or added shares) and 17 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -2,181,209.

Managers listing ES 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.

29 of 29 holders

ActionFiling
Fidelity (FMR LLC)11,708,770$788munder 0.1%Added+979,73917 Feb 2026 (the filing on sec.gov)
Invesco Ltd5,065,733$341munder 0.1%Trimmed-65,66219 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP3,241,896$218munder 0.1%Added+712,50817 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC1,920,558$129m0.07%Added+119,94017 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,790,033$121munder 0.1%Added+501,87617 Feb 2026 (the filing on sec.gov)
Man Group PLC1,416,881$95m0.16%Trimmed-105,00317 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP551,224$37munder 0.1%Added+96,54117 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc536,242$36munder 0.1%Added+3,92317 Feb 2026 (the filing on sec.gov)
Baillie Gifford & Co139,244$9.4munder 0.1%Trimmed-83,31723 Jan 2026 (the filing on sec.gov)
GAMCO Investors Inc137,080$9.2m0.09%Trimmed-1,2915 Feb 2026 (the filing on sec.gov)
Millennium Management LLC125,954$8.5munder 0.1%Trimmed-1,376,91917 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP97,540$6.6munder 0.1%Trimmed-87,17117 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC65,144$4.4munder 0.1%Trimmed-351,97513 Feb 2026 (the filing on sec.gov)
Woodline Partners LP63,939$4.3munder 0.1%Added+14,89217 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP58,745$4.0munder 0.1%Trimmed-40,53217 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC56,393$3.8munder 0.1%Added+4627 Oct 2026 (the filing on sec.gov)
Janus Henderson Group Ltd47,801$3.2munder 0.1%Added+74817 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC33,303$2.2munder 0.1%Added+12,22610 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP23,954$1.6munder 0.1%Trimmed-19,81317 Feb 2026 (the filing on sec.gov)
Winton Group Ltd23,714$1.6m0.06%Newnew11 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP19,300$1.3munder 0.1%Trimmed-7,80017 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC18,718$1.3munder 0.1%Added+3,16412 Feb 2026 (the filing on sec.gov)
Soros Fund Management LLC14,890$1.0munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC9,999$673kunder 0.1%Trimmed-31,37613 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC9,385$632kunder 0.1%Added+2,39917 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.
12 in Q3 2024 to 11 in Q2 2026

Tracked managers listing it, at least.

0102030201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
ES by quarter
QuarterHoldersReported valueBuyersSellers
Q1 20157$1.0bnn.a.n.a.
Q2 20159$871mn.a.n.a.
Q3 20158$1.2bnn.a.n.a.
Q4 20159$1.1bnn.a.n.a.
Q1 201611$1.4bnn.a.n.a.
Q2 201613$1.2bnn.a.n.a.
Q3 201613$1.1bnn.a.n.a.
Q4 20169$1.1bnn.a.n.a.
Q1 201710$1.4bnn.a.n.a.
Q2 201712$1.6bnn.a.n.a.
Q3 201716$1.7bnn.a.n.a.
Q4 201711$2.1bnn.a.n.a.
Q1 201812$2.3bnn.a.n.a.
Q2 201815$2.1bnn.a.n.a.
Q3 201814$2.0bnn.a.n.a.
Q4 201814$1.8bnn.a.n.a.
Q1 201911$2.0bnn.a.n.a.
Q2 201916$2.7bnn.a.n.a.
Q3 201913$3.1bnn.a.n.a.
Q4 201913$2.4bnn.a.n.a.
Q1 202015$1.5bnn.a.n.a.
Q2 202015$1.3bnn.a.n.a.
Q3 202013$1.1bnn.a.n.a.
Q4 202016$1.0bnn.a.n.a.
Q1 202110$845mn.a.n.a.
Q2 202112$762mn.a.n.a.
Q3 202112$1.1bnn.a.n.a.
Q4 20219$1.3bnn.a.n.a.
Q1 202216$989mn.a.n.a.
Q2 202221$1.1bnn.a.n.a.
Q3 202220$1.1bnn.a.n.a.
Q4 202211$1.1bnn.a.n.a.
Q1 202316$987mn.a.n.a.
Q2 202314$905mn.a.n.a.
Q3 202316$653mn.a.n.a.
Q4 20237$233m35
Q1 202410$456m74
Q2 20247$388m34
Q3 202412$1.8bn93
Q4 202410$1.4bn73
Q1 202513$2.3bn85
Q2 202514$1.8bn86
Q3 202515$1.9bn69
Q4 202510$1.6bn1617
Q1 20268$1.8bn1718
Q2 202611$2.2bn1616

Compare with…

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

ES and SO →ES and D →ES and NEE →Choose a stock to compare with ES →

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