L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 10 Feb 2026
Managers listing it
28
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 10 listed it in both
Shares listed
41,666,520
combined, among listed positions
Reported value
$683m
combined, at the quarter end

Among the 92 comparable managers: 11 buyers (opened or added shares) and 20 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -12,329,362.

Managers listing PATH 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.

28 of 28 holders

ActionFiling
Point72 Asset Management LP7,399,184$121m0.14%Added+4,933,88417 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP5,349,177$88munder 0.1%Added+1,390,97917 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP4,194,675$69m0.10%Added+1,826,92417 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC3,998,571$66munder 0.1%Trimmed-1,181,51717 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP3,340,840$55munder 0.1%Added+298,85313 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC2,459,474$40munder 0.1%Trimmed-1,24527 Oct 2026 (the filing on sec.gov)
Bridgewater Associates LP2,224,610$36m0.13%Trimmed-271,01513 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC2,204,069$36munder 0.1%Added+1,033,30317 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.1,679,181$28munder 0.1%Trimmed-2,930,88317 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP1,675,801$27m0.05%Added+536,50117 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC1,394,602$23munder 0.1%Trimmed-3,059,48310 Feb 2026 (the filing on sec.gov)
Invesco Ltd1,202,277$20munder 0.1%Added+292,13419 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc1,146,494$19munder 0.1%Added+809,31517 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP576,392$9.4munder 0.1%Added+204,90417 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC540,382$8.9munder 0.1%Trimmed-322,30112 Feb 2026 (the filing on sec.gov)
Man Group PLC461,921$7.6munder 0.1%Trimmed-670,68817 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC427,259$7.0munder 0.1%Added+361,35913 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC419,740$6.9munder 0.1%Trimmed-2,544,85913 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP221,629$3.6munder 0.1%Trimmed-438,83917 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd175,800$2.9munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP111,374$1.8munder 0.1%Trimmed-248,82613 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC110,603$1.8munder 0.1%Trimmed-43,61313 Feb 2026 (the filing on sec.gov)
Quantbot Technologies LP96,727$1.6m0.05%Trimmed-419,35310 Feb 2026 (the filing on sec.gov)
Millennium Management LLC79,428$1.3munder 0.1%Trimmed-2,760,57517 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)78,844$1.3munder 0.1%Trimmed-103,73717 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.
11 in Q3 2024 to 6 in Q2 2026

Tracked managers listing it, at least.

0510152020222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
PATH by quarter
QuarterHoldersReported valueBuyersSellers
Q2 202118$4.8bnn.a.n.a.
Q3 202111$4.7bnn.a.n.a.
Q4 202110$4.0bnn.a.n.a.
Q1 202212$1.7bnn.a.n.a.
Q2 20229$903mn.a.n.a.
Q3 202212$801mn.a.n.a.
Q4 202211$784mn.a.n.a.
Q1 202312$1.2bnn.a.n.a.
Q2 20238$1.1bnn.a.n.a.
Q3 20237$1.1bnn.a.n.a.
Q4 202314$2.4bn95
Q1 20249$1.6bn47
Q2 20247$629m42
Q3 202411$672m64
Q4 202411$653m74
Q1 202510$415m55
Q2 20259$585m82
Q3 202512$339m84
Q4 20256$332m1120
Q1 20264$39m1218
Q2 20266$237m1612

Compare with…

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

PATH and GOOGL →PATH and AMZN →PATH and MSFT →Choose a stock to compare with PATH →

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