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
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

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.

28 of 28 holders

ActionFiling
T. Rowe Price Associates Inc62,973,983$2.5bn0.27%Trimmed-3,247,34617 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors54,535,444$2.1bn0.40%Added+204,65411 Feb 2026 (the filing on sec.gov)
Invesco Ltd10,764,533$424munder 0.1%Added+1,643,36319 Feb 2026 (the filing on sec.gov)
Capital World Investors6,332,121$249munder 0.1%Added+111,31111 Feb 2026 (the filing on sec.gov)
MFS Investment Management3,576,579$141munder 0.1%Trimmed-258,21222 Jan 2026 (the filing on sec.gov)
Fidelity (FMR LLC)3,176,131$125munder 0.1%Trimmed-3,888,79417 Feb 2026 (the filing on sec.gov)
Freestone Grove Partners LP1,342,091$53m0.38%Trimmed-289,64017 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,279,006$50munder 0.1%Added+1,046,88617 Feb 2026 (the filing on sec.gov)
Millennium Management LLC1,140,270$45munder 0.1%Added+940,34717 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP531,248$21munder 0.1%Trimmed-305,15117 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC437,298$17munder 0.1%Trimmed-69,98127 Oct 2026 (the filing on sec.gov)
Woodline Partners LP399,805$16m0.06%Newnew17 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP310,041$12munder 0.1%Trimmed-481,05217 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp284,399$11munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC228,912$9.0munder 0.1%Added+214,82913 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP165,152$6.5munder 0.1%Trimmed-586,88717 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC157,042$6.2munder 0.1%Added+115,36412 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP121,764$4.8munder 0.1%Trimmed-94,66717 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.86,132$3.4munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC77,271$3.0munder 0.1%Trimmed-91,49217 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC72,755$2.9munder 0.1%Trimmed-1,00513 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd65,981$2.6munder 0.1%Trimmed-5,13117 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC62,984$2.5munder 0.1%Trimmed-199,37713 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP28,766$1.1munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP18,590$732kunder 0.1%Newnew13 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.
18 in Q3 2024 to 11 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.
IP by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201317$4.0bnn.a.n.a.
Q3 201319$3.9bnn.a.n.a.
Q4 201313$3.9bnn.a.n.a.
Q1 201416$3.6bnn.a.n.a.
Q2 201413$3.7bnn.a.n.a.
Q3 201411$3.2bnn.a.n.a.
Q4 201417$3.3bnn.a.n.a.
Q1 201514$3.3bnn.a.n.a.
Q2 201517$2.8bnn.a.n.a.
Q3 201518$2.3bnn.a.n.a.
Q4 201517$2.4bnn.a.n.a.
Q1 201610$2.8bnn.a.n.a.
Q2 20169$2.8bnn.a.n.a.
Q3 201615$3.0bnn.a.n.a.
Q4 201613$3.5bnn.a.n.a.
Q1 201715$3.6bnn.a.n.a.
Q2 201712$4.1bnn.a.n.a.
Q3 201711$4.1bnn.a.n.a.
Q4 201713$4.3bnn.a.n.a.
Q1 201817$4.3bnn.a.n.a.
Q2 201811$4.3bnn.a.n.a.
Q3 20188$3.8bnn.a.n.a.
Q4 201816$2.8bnn.a.n.a.
Q1 20199$3.0bnn.a.n.a.
Q2 201911$2.7bnn.a.n.a.
Q3 20199$2.4bnn.a.n.a.
Q4 20199$2.6bnn.a.n.a.
Q1 202011$1.7bnn.a.n.a.
Q2 20207$1.8bnn.a.n.a.
Q3 20206$2.2bnn.a.n.a.
Q4 20209$2.8bnn.a.n.a.
Q1 20216$3.3bnn.a.n.a.
Q2 202111$3.9bnn.a.n.a.
Q3 20217$3.3bnn.a.n.a.
Q4 202114$2.4bnn.a.n.a.
Q1 202214$2.2bnn.a.n.a.
Q2 20228$1.8bnn.a.n.a.
Q3 20228$1.4bnn.a.n.a.
Q4 202211$1.7bnn.a.n.a.
Q1 20238$1.3bnn.a.n.a.
Q2 20236$1.1bnn.a.n.a.
Q3 20239$1.4bnn.a.n.a.
Q4 202312$1.3bn76
Q1 202412$1.7bn102
Q2 202415$3.4bn127
Q3 202418$5.2bn135
Q4 202423$7.5bn158
Q1 202517$7.5bn109
Q2 202511$6.9bn94
Q3 202510$6.6bn65
Q4 20257$5.5bn1418
Q1 20267$5.2bn1515
Q2 202611$6.2bn2011

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 →