- 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
- 21
- at least, of 95 tracked, among listed positions
- Comparable managers
- 92
- filed both Q3 2025 and Q4 2025; 3 listed it in both
- Shares listed
- 8,406,690
- combined, among listed positions
- Reported value
- $320m
- combined, at the quarter end
Among the 92 comparable managers: 10 buyers (opened or added shares) and 16 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -502,396.
Managers listing NATL in Q4 2025
21 of 21 holders
Largest increases and reductions, by shares
Increases
- Woodline Partners LPnew position · 270,515 shares now+270,515
- Two Sigma Investments LPexisting position · 113,333 shares now+94,933
- Two Sigma Advisers LPnew position · 39,400 shares now+39,400
- Acadian Asset Management LLCnew position · 30,775 shares now+30,775
- D. E. Shaw & Co.existing position · 52,464 shares now+12,311
Reductions
- Fidelity (FMR LLC)existing position · 2,416,145 shares now-140,993
- MFS Investment Managementexisting position · 1,255,678 shares now-136,330
- Arrowstreet Capital LPexisting position · 70,157 shares now-133,011
- Millennium Management LLCexisting position · 247,259 shares now-131,768
- Winton Group Ltdexisting position · 22,616 shares now-102,460
New positions and exits
New (4)
Exited (5)
- Jane Street Group LLCwas $2.6m
- Renaissance Technologies LLCwas $2.0m
- Squarepoint Ops LLCwas $890k
- Brevan Howard Capital Management LPwas $293k
- Freestone Grove Partners LPwas $288k
Ownership over time
Tracked managers listing it, at least.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q4 2023 | 2 | $68m | 2 | 0 |
| Q1 2024 | 3 | $51m | 2 | 0 |
| Q2 2024 | 4 | $162m | 2 | 1 |
| Q3 2024 | 4 | $295m | 3 | 1 |
| Q4 2024 | 5 | $344m | 2 | 3 |
| Q1 2025 | 3 | $216m | 1 | 2 |
| Q2 2025 | 3 | $251m | 2 | 2 |
| Q3 2025 | 3 | $190m | 1 | 2 |
| Q4 2025 | 3 | $182m | 10 | 16 |
| Q1 2026 | 4 | $62m | 22 | 9 |
| Q2 2026 | 6 | $256m | 17 | 13 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
NATL and AAPL →NATL and SNDK →NATL and CSCO →Choose a stock to compare with NATL →
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 NATL, latest filings →Back to the 13F Explorer →