L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 4 Feb 2026
Managers listing it
30
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 10 listed it in both
Shares listed
6,779,882
combined, among listed positions
Reported value
$1.2bn
combined, at the quarter end

Among the 92 comparable managers: 17 buyers (opened or added shares) and 18 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -247,187.

Managers listing HLI 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.

30 of 30 holders

ActionFiling
Wellington Management Group LLP1,283,813$224munder 0.1%Trimmed-88,89017 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)1,125,462$196munder 0.1%Trimmed-309,47717 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors962,263$168munder 0.1%Added+5,82211 Feb 2026 (the filing on sec.gov)
Invesco Ltd760,961$133munder 0.1%Trimmed-66,56419 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC628,778$110m0.08%Trimmed-36,95827 Oct 2026 (the filing on sec.gov)
AQR Capital Management LLC379,478$66munder 0.1%Added+145,45417 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP352,138$61munder 0.1%Trimmed-108,52717 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd162,168$28munder 0.1%Added+46,13517 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc160,825$28munder 0.1%Trimmed-168,62317 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.148,240$26munder 0.1%Added+145,14617 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp126,977$22munder 0.1%Added+105,79717 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP115,238$20munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC115,148$20m0.06%Added+110,92413 Feb 2026 (the filing on sec.gov)
Millennium Management LLC108,927$19munder 0.1%Added+15,44617 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC67,083$12munder 0.1%Trimmed-5,18217 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC57,521$10munder 0.1%Added+55,24812 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP54,025$9.4m0.07%Added+37,27417 Feb 2026 (the filing on sec.gov)
Man Group PLC41,311$7.2munder 0.1%Added+2,07317 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC33,495$5.8munder 0.1%Trimmed-24,34617 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC27,924$4.9munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
PDT Partners LLC24,781$4.3m0.28%Trimmed-7,83417 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP12,221$2.1munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC7,100$1.2munder 0.1%Trimmed-155,60012 Feb 2026 (the filing on sec.gov)
First Eagle Investment Management LLC4,524$788kunder 0.1%Added+3224 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC4,323$753kunder 0.1%Trimmed-47,31010 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.
5 in Q3 2024 to 12 in Q2 2026

Tracked managers listing it, at least.

05101520162017201820192020202120222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
HLI by quarter
QuarterHoldersReported valueBuyersSellers
Q3 20152$14mn.a.n.a.
Q4 20152$17mn.a.n.a.
Q1 20161$11mn.a.n.a.
Q2 20161$5.6mn.a.n.a.
Q1 20171$4.4mn.a.n.a.
Q2 20171$42mn.a.n.a.
Q3 20172$46mn.a.n.a.
Q4 20172$55mn.a.n.a.
Q1 20183$69mn.a.n.a.
Q2 20184$114mn.a.n.a.
Q3 20183$99mn.a.n.a.
Q4 20182$60mn.a.n.a.
Q1 20192$72mn.a.n.a.
Q2 20194$96mn.a.n.a.
Q3 20196$101mn.a.n.a.
Q4 20194$154mn.a.n.a.
Q1 20206$148mn.a.n.a.
Q2 20206$177mn.a.n.a.
Q3 20206$207mn.a.n.a.
Q4 20206$216mn.a.n.a.
Q1 20217$208mn.a.n.a.
Q2 20216$248mn.a.n.a.
Q3 20214$278mn.a.n.a.
Q4 20218$426mn.a.n.a.
Q1 20225$356mn.a.n.a.
Q2 20223$290mn.a.n.a.
Q3 20224$278mn.a.n.a.
Q4 20224$357mn.a.n.a.
Q1 20234$360mn.a.n.a.
Q2 20236$631mn.a.n.a.
Q3 20236$608mn.a.n.a.
Q4 20235$559m05
Q1 20245$485m05
Q2 20244$492m04
Q3 20245$540m14
Q4 20247$545m34
Q1 202510$546m46
Q2 202511$685m65
Q3 202510$776m47
Q4 20258$557m1718
Q1 202610$537m1618
Q2 202612$444m2012

Compare with…

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

HLI and V →HLI and AXP →HLI and BAC →Choose a stock to compare with HLI →

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