L3VLUP
Quarter end
30 Sep 2025
the date the book describes
Filed
9 Dec 2025
latest of these filings; the earliest 29 Oct 2025
Managers listing it
30
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q2 2025 and Q3 2025; 27 listed it in both
Shares listed
98,866,217
combined, among listed positions
Reported value
$19.9bn
combined, at the quarter end

Among the 95 comparable managers: 17 buyers (opened or added shares) and 12 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.

Managers listing MRSH in Q3 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q2 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
Capital World Investors17,702,898$3.6bn0.49%Added+92,76713 Nov 2025 (the filing on sec.gov)
Fidelity (FMR LLC)16,455,084$3.3bn0.17%Trimmed-3,581,89013 Nov 2025 (the filing on sec.gov)
Wellington Management Group LLP15,091,478$3.0bn0.53%Added+1,260,43414 Nov 2025 (the filing on sec.gov)
Capital Research Global Investors9,861,067$2.0bn0.37%Added+68,82613 Nov 2025 (the filing on sec.gov)
MFS Investment Management9,474,359$1.9bn0.59%Trimmed-201,80429 Oct 2025 (the filing on sec.gov)
T. Rowe Price Associates Inc8,349,764$1.7bn0.18%Trimmed-1,693,07314 Nov 2025 (the filing on sec.gov)
Artisan Partners LP3,437,011$693m0.98%Trimmed-6,44312 Nov 2025 (the filing on sec.gov)
Invesco Ltd3,293,188$664m0.10%Added+753,82813 Nov 2025 (the filing on sec.gov)
D. E. Shaw & Co.2,576,666$519m0.29%Added+1,372,13714 Nov 2025 (the filing on sec.gov)
Janus Henderson Group Ltd1,690,699$341m0.16%Trimmed-164,23214 Nov 2025 (the filing on sec.gov)
Arrowstreet Capital LP1,419,104$286m0.18%Added+1,231,05913 Nov 2025 (the filing on sec.gov)
Voloridge Investment Management LLC1,379,436$278m0.93%Added+666,02314 Nov 2025 (the filing on sec.gov)
Two Sigma Advisers LP1,309,700$264m0.53%Added+879,30014 Nov 2025 (the filing on sec.gov)
AllianceBernstein LP1,191,361$240m0.08%Trimmed-87,96214 Nov 2025 (the filing on sec.gov)
Renaissance Technologies LLC1,120,300$226m0.30%Added+146,36913 Nov 2025 (the filing on sec.gov)
Two Sigma Investments LP1,100,141$222m0.33%Added+106,85714 Nov 2025 (the filing on sec.gov)
AQR Capital Management LLC1,032,461$207m0.13%Added+602,05614 Nov 2025 (the filing on sec.gov)
Markel Group Inc755,000$152m1.23%Added+6,25031 Oct 2025 (the filing on sec.gov)
Acadian Asset Management LLC629,480$127m0.22%Trimmed-12,61113 Nov 2025 (the filing on sec.gov)
Squarepoint Ops LLC385,231$78m0.08%Trimmed-64,62114 Nov 2025 (the filing on sec.gov)
Tudor Investment Corp182,841$37m0.06%Added+86,2329 Dec 2025 (the filing on sec.gov)
Baillie Gifford & Co82,361$17munder 0.1%Trimmed-10,28731 Oct 2025 (the filing on sec.gov)
Quantbot Technologies LP78,065$16m0.43%Trimmed-47,75212 Nov 2025 (the filing on sec.gov)
Woodline Partners LP64,974$13m0.06%Newnew14 Nov 2025 (the filing on sec.gov)
Bridgewater Associates LP62,067$13munder 0.1%Newnew13 Nov 2025 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q2 2025 to Q3 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.

Exited (0)

No exit shown by a manager’s own filing.

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 →