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; 5 listed it in both
Shares listed
7,044,890
combined, among listed positions
Reported value
$393m
combined, at the quarter end

Among the 92 comparable managers: 17 buyers (opened or added shares) and 16 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -1,423,936.

Managers listing FORM 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
AllianceBernstein LP1,414,688$79munder 0.1%Trimmed-982,47317 Feb 2026 (the filing on sec.gov)
MFS Investment Management1,369,024$76munder 0.1%Trimmed-762,00622 Jan 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc964,578$54munder 0.1%Added+308,82617 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP601,763$34munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP430,087$24munder 0.1%Added+314,97117 Feb 2026 (the filing on sec.gov)
Invesco Ltd332,927$19munder 0.1%Added+20,05219 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC323,429$18m0.06%Trimmed-65,02017 Feb 2026 (the filing on sec.gov)
First Eagle Investment Management LLC269,222$15munder 0.1%Trimmed-31,9474 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC204,768$11munder 0.1%Added+36,80817 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC193,009$11munder 0.1%Added+87,09917 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC118,534$6.6munder 0.1%Trimmed-20,42512 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP113,753$6.3munder 0.1%Trimmed-244,38417 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP84,215$4.7munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Millennium Management LLC82,369$4.6munder 0.1%Trimmed-30,80917 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP68,653$3.8munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC67,898$3.8munder 0.1%Newnew10 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.60,055$3.4munder 0.1%Trimmed-448,75217 Feb 2026 (the filing on sec.gov)
PDT Partners LLC51,112$2.9m0.18%Trimmed-20,06217 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp50,741$2.8munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC38,775$2.2munder 0.1%Trimmed-3,29713 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP34,699$1.9munder 0.1%Trimmed-40,11717 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd32,869$1.8munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP25,979$1.4munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP24,910$1.4munder 0.1%Added+2,65517 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)21,716$1.2munder 0.1%Added+2,80217 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.
3 in Q3 2024 to 14 in Q2 2026

Tracked managers listing it, at least.

0510152015201820192020202120222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
FORM by quarter
QuarterHoldersReported valueBuyersSellers
Q1 20151$171kn.a.n.a.
Q2 20171$6.9mn.a.n.a.
Q3 20171$871kn.a.n.a.
Q4 20172$1.6mn.a.n.a.
Q1 20181$2.9mn.a.n.a.
Q4 20182$125mn.a.n.a.
Q1 20191$11mn.a.n.a.
Q3 20192$152mn.a.n.a.
Q4 20195$201mn.a.n.a.
Q1 20203$116mn.a.n.a.
Q2 20205$162mn.a.n.a.
Q3 20203$133mn.a.n.a.
Q4 20201$209mn.a.n.a.
Q1 20212$203mn.a.n.a.
Q2 20212$836kn.a.n.a.
Q3 20211$331kn.a.n.a.
Q4 20211$542kn.a.n.a.
Q1 20222$84mn.a.n.a.
Q2 20222$84mn.a.n.a.
Q3 20222$54mn.a.n.a.
Q4 20222$64mn.a.n.a.
Q1 20234$180mn.a.n.a.
Q2 20235$171mn.a.n.a.
Q3 20236$191mn.a.n.a.
Q4 20236$204m13
Q1 20244$151m23
Q2 20244$167m04
Q3 20243$55m12
Q4 20244$190m21
Q1 20253$144m13
Q2 20255$180m41
Q3 20255$193m31
Q4 20256$196m1716
Q1 20268$294m2213
Q2 202614$660m2513

Compare with…

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

FORM and NVDA →FORM and AVGO →FORM and MU →Choose a stock to compare with FORM →

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