- 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
- 28
- at least, of 95 tracked, among listed positions
- Comparable managers
- 92
- filed both Q3 2025 and Q4 2025; 8 listed it in both
- Shares listed
- 148,198,015
- combined, among listed positions
- Reported value
- $5.8bn
- combined, at the quarter end
Among the 92 comparable managers: 14 buyers (opened or added shares) and 18 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -5,048,153.
Managers listing IP in Q4 2025
28 of 28 holders
Largest increases and reductions, by shares
Increases
- Invesco Ltdexisting position · 10,764,533 shares now+1,643,363
- Citadel Advisors LLCexisting position · 1,279,006 shares now+1,046,886
- Millennium Management LLCexisting position · 1,140,270 shares now+940,347
- Woodline Partners LPnew position · 399,805 shares now+399,805
- Tudor Investment Corpnew position · 284,399 shares now+284,399
Reductions
- Fidelity (FMR LLC)existing position · 3,176,131 shares now-3,888,794
- T. Rowe Price Associates Incexisting position · 62,973,983 shares now-3,247,346
- Point72 Asset Management LPexisting position · 165,152 shares now-586,887
- Susquehanna International Group LLPexisting position · 310,041 shares now-481,052
- AllianceBernstein LPexisting position · 531,248 shares now-305,151
New positions and exits
New (7)
- Woodline Partners LP$16m
- Tudor Investment Corp$11m
- D. E. Shaw & Co.$3.4m
- Holocene Advisors LP$1.1m
- Marshall Wace LLP$732k
- Quantbot Technologies LP$594k
- Man Group PLC$250k
Exited (4)
- Davidson Kempner Capital Management LPwas $15m
- Hudson Bay Capital Management LPwas $5.0m
- Moore Capital Management LPwas $2.4m
- Brevan Howard Capital Management LPwas $635k
Ownership over time
Tracked managers listing it, at least.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q2 2013 | 17 | $4.0bn | n.a. | n.a. |
| Q3 2013 | 19 | $3.9bn | n.a. | n.a. |
| Q4 2013 | 13 | $3.9bn | n.a. | n.a. |
| Q1 2014 | 16 | $3.6bn | n.a. | n.a. |
| Q2 2014 | 13 | $3.7bn | n.a. | n.a. |
| Q3 2014 | 11 | $3.2bn | n.a. | n.a. |
| Q4 2014 | 17 | $3.3bn | n.a. | n.a. |
| Q1 2015 | 14 | $3.3bn | n.a. | n.a. |
| Q2 2015 | 17 | $2.8bn | n.a. | n.a. |
| Q3 2015 | 18 | $2.3bn | n.a. | n.a. |
| Q4 2015 | 17 | $2.4bn | n.a. | n.a. |
| Q1 2016 | 10 | $2.8bn | n.a. | n.a. |
| Q2 2016 | 9 | $2.8bn | n.a. | n.a. |
| Q3 2016 | 15 | $3.0bn | n.a. | n.a. |
| Q4 2016 | 13 | $3.5bn | n.a. | n.a. |
| Q1 2017 | 15 | $3.6bn | n.a. | n.a. |
| Q2 2017 | 12 | $4.1bn | n.a. | n.a. |
| Q3 2017 | 11 | $4.1bn | n.a. | n.a. |
| Q4 2017 | 13 | $4.3bn | n.a. | n.a. |
| Q1 2018 | 17 | $4.3bn | n.a. | n.a. |
| Q2 2018 | 11 | $4.3bn | n.a. | n.a. |
| Q3 2018 | 8 | $3.8bn | n.a. | n.a. |
| Q4 2018 | 16 | $2.8bn | n.a. | n.a. |
| Q1 2019 | 9 | $3.0bn | n.a. | n.a. |
| Q2 2019 | 11 | $2.7bn | n.a. | n.a. |
| Q3 2019 | 9 | $2.4bn | n.a. | n.a. |
| Q4 2019 | 9 | $2.6bn | n.a. | n.a. |
| Q1 2020 | 11 | $1.7bn | n.a. | n.a. |
| Q2 2020 | 7 | $1.8bn | n.a. | n.a. |
| Q3 2020 | 6 | $2.2bn | n.a. | n.a. |
| Q4 2020 | 9 | $2.8bn | n.a. | n.a. |
| Q1 2021 | 6 | $3.3bn | n.a. | n.a. |
| Q2 2021 | 11 | $3.9bn | n.a. | n.a. |
| Q3 2021 | 7 | $3.3bn | n.a. | n.a. |
| Q4 2021 | 14 | $2.4bn | n.a. | n.a. |
| Q1 2022 | 14 | $2.2bn | n.a. | n.a. |
| Q2 2022 | 8 | $1.8bn | n.a. | n.a. |
| Q3 2022 | 8 | $1.4bn | n.a. | n.a. |
| Q4 2022 | 11 | $1.7bn | n.a. | n.a. |
| Q1 2023 | 8 | $1.3bn | n.a. | n.a. |
| Q2 2023 | 6 | $1.1bn | n.a. | n.a. |
| Q3 2023 | 9 | $1.4bn | n.a. | n.a. |
| Q4 2023 | 12 | $1.3bn | 7 | 6 |
| Q1 2024 | 12 | $1.7bn | 10 | 2 |
| Q2 2024 | 15 | $3.4bn | 12 | 7 |
| Q3 2024 | 18 | $5.2bn | 13 | 5 |
| Q4 2024 | 23 | $7.5bn | 15 | 8 |
| Q1 2025 | 17 | $7.5bn | 10 | 9 |
| Q2 2025 | 11 | $6.9bn | 9 | 4 |
| Q3 2025 | 10 | $6.6bn | 6 | 5 |
| Q4 2025 | 7 | $5.5bn | 14 | 18 |
| Q1 2026 | 7 | $5.2bn | 15 | 15 |
| Q2 2026 | 11 | $6.2bn | 20 | 11 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
IP and LIN →IP and GLW →IP and HWM →Choose a stock to compare with IP →
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 IP, latest filings →Back to the 13F Explorer →