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
29
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 17 listed it in both
Shares listed
37,737,457
combined, among listed positions
Reported value
$11.7bn
combined, at the quarter end

Among the 92 comparable managers: 13 buyers (opened or added shares) and 22 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +3,602,392.

Managers listing MAR 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.

29 of 29 holders

ActionFiling
Invesco Ltd10,469,185$3.2bn0.31%Added+6,147,33019 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP8,576,175$2.7bn0.47%Trimmed-599,20217 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)6,719,325$2.1bn0.11%Added+208,96517 Feb 2026 (the filing on sec.gov)
MFS Investment Management4,732,764$1.5bn0.47%Trimmed-189,00322 Jan 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc1,879,028$583m0.06%Added+219,57917 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,699,017$527m0.08%Trimmed-215,29717 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP997,271$309m0.18%Added+150,53113 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP673,376$209m0.07%Trimmed-980,00417 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC489,712$152m0.11%Added+162,62127 Oct 2026 (the filing on sec.gov)
Janus Henderson Group Ltd373,675$116m0.05%Trimmed-158,90017 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP319,003$99munder 0.1%Trimmed-12,11017 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC173,974$54m0.19%Trimmed-121,24217 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC92,699$29munder 0.1%Added+91,84517 Feb 2026 (the filing on sec.gov)
Markel Group Inc89,750$28m0.22%Added+16,5006 Feb 2026 (the filing on sec.gov)
Hudson Bay Capital Management LP89,178$28m0.09%Added+13,13213 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC66,817$21munder 0.1%Trimmed-40417 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC59,293$18munder 0.1%Trimmed-69,94212 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP45,294$14munder 0.1%Trimmed-17,67213 Feb 2026 (the filing on sec.gov)
Woodline Partners LP38,150$12munder 0.1%Added+8,37217 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC37,650$12munder 0.1%Added+16,47413 Feb 2026 (the filing on sec.gov)
Man Group PLC28,098$8.7munder 0.1%Trimmed-90,44917 Feb 2026 (the filing on sec.gov)
Millennium Management LLC17,500$5.4munder 0.1%Trimmed-99,11017 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.17,247$5.4munder 0.1%Trimmed-192,94217 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC15,189$4.7munder 0.1%Trimmed-11,40817 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC11,259$3.5munder 0.1%Added+9,06313 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.
28 in Q3 2024 to 16 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.
MAR by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201314$1.6bnn.a.n.a.
Q3 201313$1.7bnn.a.n.a.
Q4 201310$2.1bnn.a.n.a.
Q1 201411$2.8bnn.a.n.a.
Q2 201411$3.1bnn.a.n.a.
Q3 201413$2.7bnn.a.n.a.
Q4 201411$2.2bnn.a.n.a.
Q1 201512$2.1bnn.a.n.a.
Q2 201510$1.9bnn.a.n.a.
Q3 201515$2.3bnn.a.n.a.
Q4 201519$2.9bnn.a.n.a.
Q1 201618$3.0bnn.a.n.a.
Q2 201620$3.2bnn.a.n.a.
Q3 201625$4.2bnn.a.n.a.
Q4 201623$5.6bnn.a.n.a.
Q1 201719$6.8bnn.a.n.a.
Q2 201723$7.4bnn.a.n.a.
Q3 201718$8.2bnn.a.n.a.
Q4 201723$9.0bnn.a.n.a.
Q1 201825$8.6bnn.a.n.a.
Q2 201827$7.6bnn.a.n.a.
Q3 201815$8.7bnn.a.n.a.
Q4 201816$7.1bnn.a.n.a.
Q1 201912$8.8bnn.a.n.a.
Q2 201917$10.1bnn.a.n.a.
Q3 201926$7.7bnn.a.n.a.
Q4 201921$9.1bnn.a.n.a.
Q1 202017$4.6bnn.a.n.a.
Q2 202018$4.4bnn.a.n.a.
Q3 202021$4.4bnn.a.n.a.
Q4 202015$6.8bnn.a.n.a.
Q1 202113$6.8bnn.a.n.a.
Q2 202113$5.8bnn.a.n.a.
Q3 202114$6.7bnn.a.n.a.
Q4 202115$7.3bnn.a.n.a.
Q1 202223$7.7bnn.a.n.a.
Q2 202224$6.0bnn.a.n.a.
Q3 202224$5.8bnn.a.n.a.
Q4 202227$5.4bnn.a.n.a.
Q1 202322$5.8bnn.a.n.a.
Q2 202322$6.1bnn.a.n.a.
Q3 202321$6.4bnn.a.n.a.
Q4 202320$6.7bn812
Q1 202417$6.8bn612
Q2 202427$7.0bn225
Q3 202428$7.3bn1713
Q4 202424$8.2bn159
Q1 202526$7.7bn1710
Q2 202520$8.7bn912
Q3 202521$8.6bn1210
Q4 202516$11.5bn1322
Q1 202622$11.3bn2015
Q2 202616$11.3bn1222

Compare with…

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

MAR and AMZN →MAR and TSLA →MAR and HD →Choose a stock to compare with MAR →

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