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
35
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 19 listed it in both
Shares listed
101,129,980
combined, among listed positions
Reported value
$9.8bn
combined, at the quarter end

Among the 92 comparable managers: 15 buyers (opened or added shares) and 27 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -4,680,276.

Managers listing NDAQ 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.

35 of 35 holders

ActionFiling
Wellington Management Group LLP37,659,824$3.7bn0.64%Trimmed-2,143,06817 Feb 2026 (the filing on sec.gov)
MFS Investment Management27,627,767$2.7bn0.87%Added+1,258,96422 Jan 2026 (the filing on sec.gov)
Harris Associates LP8,621,689$837m1.06%Added+2,716,28017 Feb 2026 (the filing on sec.gov)
Invesco Ltd5,369,264$522munder 0.1%Added+324,74319 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)3,294,111$320munder 0.1%Added+1,437,47917 Feb 2026 (the filing on sec.gov)
Farallon Capital Management LLC2,989,213$290m1.26%Trimmed-633,83017 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC2,694,180$262m0.19%Trimmed-39,95027 Oct 2026 (the filing on sec.gov)
AQR Capital Management LLC1,933,756$188m0.10%Trimmed-108,03417 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP1,459,061$142m0.20%Trimmed-534,79217 Feb 2026 (the filing on sec.gov)
Man Group PLC1,191,561$116m0.20%Trimmed-477,50217 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.992,589$96m0.05%Trimmed-1,187,63917 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP921,900$90m0.17%Trimmed-708,20017 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc655,305$64munder 0.1%Trimmed-3,65017 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC647,592$63m0.07%Added+338,81313 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC555,158$54m0.19%Trimmed-511,08017 Feb 2026 (the filing on sec.gov)
Artisan Partners LP537,103$52m0.08%Trimmed-8,95417 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP522,423$51m0.06%Added+466,24017 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC516,718$50munder 0.1%Trimmed-1,568,37317 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP477,102$46munder 0.1%Added+13,53517 Feb 2026 (the filing on sec.gov)
Millennium Management LLC388,906$38munder 0.1%Added+46,02417 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC343,667$33m0.15%Added+213,84217 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp277,000$27munder 0.1%Added+231,30417 Feb 2026 (the filing on sec.gov)
Capital World Investors273,996$27munder 0.1%Added+2,06411 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC262,345$25munder 0.1%Trimmed-892,49817 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC240,674$23m0.07%Trimmed-314,71713 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.
21 in Q3 2024 to 15 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.
NDAQ by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20133$304mn.a.n.a.
Q3 20134$390mn.a.n.a.
Q4 20135$783mn.a.n.a.
Q1 20145$452mn.a.n.a.
Q2 20144$535mn.a.n.a.
Q3 20147$633mn.a.n.a.
Q4 20144$741mn.a.n.a.
Q1 20156$1.1bnn.a.n.a.
Q2 20157$817mn.a.n.a.
Q3 20155$1.0bnn.a.n.a.
Q4 20158$1.0bnn.a.n.a.
Q1 201612$1.2bnn.a.n.a.
Q2 201612$1.1bnn.a.n.a.
Q3 201612$1.3bnn.a.n.a.
Q4 201611$1.3bnn.a.n.a.
Q1 201711$1.6bnn.a.n.a.
Q2 201713$1.8bnn.a.n.a.
Q3 201715$1.9bnn.a.n.a.
Q4 201717$2.1bnn.a.n.a.
Q1 201815$2.2bnn.a.n.a.
Q2 20189$1.9bnn.a.n.a.
Q3 201811$2.1bnn.a.n.a.
Q4 201813$2.2bnn.a.n.a.
Q1 20199$2.5bnn.a.n.a.
Q2 201910$2.7bnn.a.n.a.
Q3 201915$2.8bnn.a.n.a.
Q4 201914$3.3bnn.a.n.a.
Q1 202014$2.8bnn.a.n.a.
Q2 20209$3.4bnn.a.n.a.
Q3 202011$3.4bnn.a.n.a.
Q4 202014$3.7bnn.a.n.a.
Q1 202110$4.0bnn.a.n.a.
Q2 202111$4.9bnn.a.n.a.
Q3 202110$5.0bnn.a.n.a.
Q4 202114$5.4bnn.a.n.a.
Q1 202215$4.6bnn.a.n.a.
Q2 202214$4.3bnn.a.n.a.
Q3 202214$4.7bnn.a.n.a.
Q4 202216$5.1bnn.a.n.a.
Q1 202319$4.1bnn.a.n.a.
Q2 202317$2.8bnn.a.n.a.
Q3 202320$2.8bnn.a.n.a.
Q4 202317$3.4bn612
Q1 202425$4.4bn179
Q2 202415$3.9bn116
Q3 202421$6.6bn1310
Q4 202424$6.8bn1111
Q1 202522$6.6bn149
Q2 202529$10.0bn219
Q3 202523$8.7bn1013
Q4 202522$9.2bn1527
Q1 202618$7.7bn2020
Q2 202615$5.8bn2018

Compare with…

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

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