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
22
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 4 listed it in both
Shares listed
11,007,277
combined, among listed positions
Reported value
$630m
combined, at the quarter end

Among the 92 comparable managers: 14 buyers (opened or added shares) and 10 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -1,094,110.

Managers listing FR 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.

22 of 22 holders

ActionFiling
Invesco Ltd4,117,759$236munder 0.1%Trimmed-225,96419 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC1,577,450$90munder 0.1%Trimmed-11,82917 Feb 2026 (the filing on sec.gov)
Millennium Management LLC1,222,593$70munder 0.1%Added+146,95917 Feb 2026 (the filing on sec.gov)
Hudson Bay Capital Management LP652,741$37m0.12%Added+260,83013 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC594,335$34munder 0.1%Trimmed-1,903,83717 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)564,961$32munder 0.1%Added+118,22917 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC464,616$27m0.09%Added+374,45717 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP349,165$20munder 0.1%Added+24,13517 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP290,811$17munder 0.1%Added+14,35517 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP269,675$15munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC220,314$13munder 0.1%Trimmed-44,65213 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC192,814$11munder 0.1%Added+137,69417 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc109,523$6.3munder 0.1%Added+5,03617 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP66,693$3.8munder 0.1%Trimmed-10,23117 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd60,571$3.5munder 0.1%Trimmed-85,05817 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP46,623$2.7munder 0.1%Added+33,23717 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.45,813$2.6munder 0.1%Trimmed-74,77717 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC45,655$2.6munder 0.1%Added+36,64612 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP42,749$2.4munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp34,188$2.0munder 0.1%Trimmed-29,58317 Feb 2026 (the filing on sec.gov)
Quantbot Technologies LP23,342$1.3munder 0.1%Newnew10 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC14,886$853kunder 0.1%Added+2,29727 Oct 2026 (the filing on sec.gov)

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.
8 in Q3 2024 to 5 in Q2 2026

Tracked managers listing it, at least.

035810201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
FR by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20131$4.1mn.a.n.a.
Q1 20151$28mn.a.n.a.
Q2 20151$477kn.a.n.a.
Q4 20151$145mn.a.n.a.
Q1 20166$45mn.a.n.a.
Q2 20162$192mn.a.n.a.
Q3 20162$183mn.a.n.a.
Q4 20163$160mn.a.n.a.
Q1 20174$98mn.a.n.a.
Q2 20175$118mn.a.n.a.
Q3 20176$108mn.a.n.a.
Q4 20176$122mn.a.n.a.
Q1 20185$151mn.a.n.a.
Q2 20182$105mn.a.n.a.
Q3 20184$144mn.a.n.a.
Q4 20184$119mn.a.n.a.
Q1 20191$121mn.a.n.a.
Q2 20192$272mn.a.n.a.
Q3 20193$276mn.a.n.a.
Q4 20193$384mn.a.n.a.
Q1 20208$166mn.a.n.a.
Q2 20208$288mn.a.n.a.
Q3 202010$351mn.a.n.a.
Q4 20206$175mn.a.n.a.
Q1 20215$136mn.a.n.a.
Q2 20213$104mn.a.n.a.
Q3 20217$155mn.a.n.a.
Q4 20217$300mn.a.n.a.
Q1 20225$152mn.a.n.a.
Q2 20228$185mn.a.n.a.
Q3 20227$125mn.a.n.a.
Q4 20225$100mn.a.n.a.
Q1 20233$135mn.a.n.a.
Q2 20236$128mn.a.n.a.
Q3 20237$205mn.a.n.a.
Q4 20237$273m43
Q1 20248$307m44
Q2 20247$254m43
Q3 20248$314m53
Q4 20248$275m43
Q1 202510$386m55
Q2 20255$155m51
Q3 20254$119m22
Q4 20256$182m1410
Q1 20265$186m1114
Q2 20265$86m1711

Compare with…

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

FR and WELL →FR and EQIX →FR and PLD →Choose a stock to compare with FR →

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