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
43
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 29 listed it in both
Shares listed
100,154,510
combined, among listed positions
Reported value
$18.6bn
combined, at the quarter end

Among the 92 comparable managers: 30 buyers (opened or added shares) and 14 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +132,561.

Managers listing MRSH 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.

43 of 43 holders

ActionFiling
Capital World Investors16,925,131$3.1bn0.43%Trimmed-777,76711 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP15,997,880$3.0bn0.52%Added+906,40217 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)15,225,442$2.8bn0.14%Trimmed-1,229,64217 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc9,217,878$1.7bn0.18%Added+868,11417 Feb 2026 (the filing on sec.gov)
MFS Investment Management8,662,457$1.6bn0.52%Trimmed-811,90222 Jan 2026 (the filing on sec.gov)
Capital Research Global Investors7,987,794$1.5bn0.27%Trimmed-1,873,27311 Feb 2026 (the filing on sec.gov)
Invesco Ltd3,460,878$642m0.06%Added+167,69019 Feb 2026 (the filing on sec.gov)
Artisan Partners LP3,357,826$623m0.93%Trimmed-79,18517 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP2,757,045$511m0.30%Added+1,337,94113 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.2,596,011$482m0.26%Added+19,34517 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP1,839,229$341m0.11%Added+647,86817 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC1,716,766$318m1.12%Added+337,33017 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC1,478,019$274m0.14%Added+445,55817 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP1,312,200$243m0.47%Added+2,50017 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP1,249,912$232m0.33%Added+149,77117 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC822,371$153munder 0.1%Added+430,84217 Feb 2026 (the filing on sec.gov)
Markel Group Inc761,750$141m1.13%Added+6,7506 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC747,581$139m0.23%Added+118,10110 Feb 2026 (the filing on sec.gov)
Millennium Management LLC724,648$134m0.06%Added+540,51317 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC527,486$98m0.10%Added+142,25513 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC397,600$74m0.11%Trimmed-722,70012 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd382,996$71munder 0.1%Trimmed-1,307,70317 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC378,088$70munder 0.1%Added+85,23112 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp220,096$41m0.08%Added+37,25517 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP204,858$38m0.08%Newnew17 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 24 in Q2 2026

Tracked managers listing it, at least.

0102030402014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
MRSH by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201315$6.2bnn.a.n.a.
Q3 201312$6.8bnn.a.n.a.
Q4 201313$7.3bnn.a.n.a.
Q1 201417$7.5bnn.a.n.a.
Q2 201411$7.7bnn.a.n.a.
Q3 201417$8.0bnn.a.n.a.
Q4 201419$8.6bnn.a.n.a.
Q1 201517$8.3bnn.a.n.a.
Q2 201520$8.6bnn.a.n.a.
Q3 201521$8.0bnn.a.n.a.
Q4 201519$8.8bnn.a.n.a.
Q1 201619$9.7bnn.a.n.a.
Q2 201616$10.8bnn.a.n.a.
Q3 201620$9.4bnn.a.n.a.
Q4 201627$8.7bnn.a.n.a.
Q1 201724$9.4bnn.a.n.a.
Q2 201723$9.7bnn.a.n.a.
Q3 201717$10.3bnn.a.n.a.
Q4 201721$9.8bnn.a.n.a.
Q1 201819$10.0bnn.a.n.a.
Q2 201816$9.9bnn.a.n.a.
Q3 201816$9.0bnn.a.n.a.
Q4 201821$8.9bnn.a.n.a.
Q1 201923$10.2bnn.a.n.a.
Q2 201923$11.0bnn.a.n.a.
Q3 201918$11.5bnn.a.n.a.
Q4 201920$13.1bnn.a.n.a.
Q1 202023$9.8bnn.a.n.a.
Q2 202020$11.8bnn.a.n.a.
Q3 202021$12.5bnn.a.n.a.
Q4 202025$13.5bnn.a.n.a.
Q1 202123$14.2bnn.a.n.a.
Q2 202125$16.2bnn.a.n.a.
Q3 202126$16.5bnn.a.n.a.
Q4 202127$17.9bnn.a.n.a.
Q1 202226$17.2bnn.a.n.a.
Q2 202225$15.2bnn.a.n.a.
Q3 202228$13.6bnn.a.n.a.
Q4 202227$14.6bnn.a.n.a.
Q1 202330$14.8bnn.a.n.a.
Q2 202327$16.4bnn.a.n.a.
Q3 202327$16.5bnn.a.n.a.
Q4 202321$16.5bn147
Q1 202425$17.8bn1511
Q2 202426$18.3bn179
Q3 202428$19.2bn1514
Q4 202430$18.5bn1712
Q1 202525$22.7bn1016
Q2 202531$21.5bn2110
Q3 202530$19.9bn1712
Q4 202530$18.2bn3014
Q1 202623$18.4bn1627
Q2 202624$17.9bn2318

Compare with…

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

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

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