L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
32
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
124,605,968
combined, among listed positions
Reported value
$5.4bn
combined, at the quarter end

Among the 92 comparable managers: 13 buyers (opened or added shares) and 23 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +23,056,548.

Managers listing EXC 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.

32 of 32 holders

ActionFiling
Invesco Ltd38,906,667$1.7bn0.16%Added+23,247,35919 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)26,104,199$1.1bn0.06%Trimmed-940,23217 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP18,317,476$798m0.14%Trimmed-346,00517 Feb 2026 (the filing on sec.gov)
MFS Investment Management14,169,338$618m0.20%Trimmed-333,38522 Jan 2026 (the filing on sec.gov)
Capital World Investors10,100,575$440m0.06%Added+8,987,45311 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC3,892,208$170m0.09%Trimmed-29,02317 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors3,288,892$143munder 0.1%Added+20,55311 Feb 2026 (the filing on sec.gov)
Man Group PLC2,111,442$92m0.16%Trimmed-377,39217 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc1,663,722$73munder 0.1%Trimmed-1,496,01417 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP1,232,599$54munder 0.1%Trimmed-69,04617 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC1,000,544$44m0.06%Added+180,01617 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC745,888$33munder 0.1%Trimmed-770,23813 Feb 2026 (the filing on sec.gov)
Soros Fund Management LLC622,806$27m0.31%Added+487,80613 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP378,198$16munder 0.1%Trimmed-1,660,38813 Feb 2026 (the filing on sec.gov)
Millennium Management LLC337,776$15munder 0.1%Trimmed-218,33417 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP329,091$14munder 0.1%Added+52,71117 Feb 2026 (the filing on sec.gov)
Baillie Gifford & Co309,409$13munder 0.1%Trimmed-56,76123 Jan 2026 (the filing on sec.gov)
Janus Henderson Group Ltd274,886$12munder 0.1%Added+42817 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC225,105$9.8munder 0.1%Trimmed-2,011,11517 Feb 2026 (the filing on sec.gov)
Woodline Partners LP172,367$7.5munder 0.1%Added+38,88517 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC125,634$5.5munder 0.1%Added+2,92727 Oct 2026 (the filing on sec.gov)
Jane Street Group LLC78,512$3.4munder 0.1%Trimmed-110,40112 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.63,400$2.8munder 0.1%Trimmed-2,43317 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP32,525$1.4munder 0.1%Added+21,96117 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC32,199$1.4munder 0.1%Trimmed-117,78913 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.
15 in Q3 2024 to 15 in Q2 2026

Tracked managers listing it, at least.

01020302014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
EXC by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201311$3.4bnn.a.n.a.
Q3 20138$3.8bnn.a.n.a.
Q4 201314$4.0bnn.a.n.a.
Q1 201411$5.0bnn.a.n.a.
Q2 201416$6.3bnn.a.n.a.
Q3 201413$5.5bnn.a.n.a.
Q4 201414$6.3bnn.a.n.a.
Q1 201517$6.4bnn.a.n.a.
Q2 201516$6.2bnn.a.n.a.
Q3 201523$5.7bnn.a.n.a.
Q4 201524$5.5bnn.a.n.a.
Q1 201615$7.9bnn.a.n.a.
Q2 201622$8.3bnn.a.n.a.
Q3 201617$7.5bnn.a.n.a.
Q4 201621$7.3bnn.a.n.a.
Q1 201720$6.8bnn.a.n.a.
Q2 201722$7.5bnn.a.n.a.
Q3 201723$7.8bnn.a.n.a.
Q4 201723$8.0bnn.a.n.a.
Q1 201824$7.5bnn.a.n.a.
Q2 201822$7.8bnn.a.n.a.
Q3 201824$7.2bnn.a.n.a.
Q4 201824$6.9bnn.a.n.a.
Q1 201924$7.7bnn.a.n.a.
Q2 201923$7.0bnn.a.n.a.
Q3 201926$7.2bnn.a.n.a.
Q4 201924$7.6bnn.a.n.a.
Q1 202023$6.4bnn.a.n.a.
Q2 202020$6.8bnn.a.n.a.
Q3 202020$6.5bnn.a.n.a.
Q4 202016$7.0bnn.a.n.a.
Q1 202118$7.4bnn.a.n.a.
Q2 202114$7.2bnn.a.n.a.
Q3 202114$8.2bnn.a.n.a.
Q4 202120$10.0bnn.a.n.a.
Q1 202219$9.0bnn.a.n.a.
Q2 202218$7.6bnn.a.n.a.
Q3 202223$6.9bnn.a.n.a.
Q4 202220$7.3bnn.a.n.a.
Q1 202316$6.9bnn.a.n.a.
Q2 202317$6.5bnn.a.n.a.
Q3 202315$5.9bnn.a.n.a.
Q4 202312$5.3bn88
Q1 202416$6.0bn116
Q2 202410$4.4bn46
Q3 202415$5.7bn115
Q4 202417$4.8bn125
Q1 202516$4.9bn107
Q2 202513$4.1bn66
Q3 202516$4.2bn133
Q4 202512$5.2bn1323
Q1 202612$6.4bn1120
Q2 202615$5.7bn2215

Compare with…

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

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

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