L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
19 Feb 2026
latest of these filings; the earliest 10 Feb 2026
Managers listing it
23
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 2 listed it in both
Shares listed
8,561,291
combined, among listed positions
Reported value
$270m
combined, at the quarter end

Among the 92 comparable managers: 18 buyers (opened or added shares) and 8 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -221,085.

Managers listing PAY 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.

23 of 23 holders

ActionFiling
Invesco Ltd2,877,486$91munder 0.1%Trimmed-910,60419 Feb 2026 (the filing on sec.gov)
Capital World Investors2,499,583$79munder 0.1%Added+105,97011 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC816,555$26munder 0.1%Added+512,56317 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc569,016$18munder 0.1%Added+162,84517 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)485,638$15munder 0.1%Trimmed-86,06217 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP193,629$6.1munder 0.1%Added+55,05017 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP181,931$5.7munder 0.1%Added+154,21017 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP156,823$5.0munder 0.1%Trimmed-210,71713 Feb 2026 (the filing on sec.gov)
Millennium Management LLC143,573$4.5munder 0.1%Trimmed-193,17917 Feb 2026 (the filing on sec.gov)
PDT Partners LLC135,061$4.3m0.28%Added+8,40017 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC92,997$2.9munder 0.1%Newnew12 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP71,627$2.3munder 0.1%Added+21,47013 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP68,569$2.2munder 0.1%Added+32,06217 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC65,517$2.1munder 0.1%Added+18,13413 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.41,420$1.3munder 0.1%Added+5,13517 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP35,287$1.1munder 0.1%Added+17,13017 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC33,601$1.1munder 0.1%Added+13,47517 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp25,094$793kunder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd21,010$664kunder 0.1%Added+7,30017 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC20,088$635kunder 0.1%Trimmed-9,14713 Feb 2026 (the filing on sec.gov)
Man Group PLC13,551$428kunder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP13,017$411kunder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC218$7kunder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)

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.
1 in Q3 2024 to 2 in Q2 2026

Tracked managers listing it, at least.

01234Q2 2021Q4 2021Q2 2022Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
PAY by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20214$62mn.a.n.a.
Q3 20212$58mn.a.n.a.
Q4 20211$74mn.a.n.a.
Q1 20221$45mn.a.n.a.
Q2 20221$28mn.a.n.a.
Q1 20241$490k10
Q2 20241$657k10
Q3 20241$964k10
Q4 20241$2.1m10
Q1 20252$27m20
Q2 20252$73m20
Q3 20253$78m21
Q4 20252$83m188
Q1 20262$109m1512
Q2 20262$105m1114

Compare with…

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

PAY and V →PAY and MA →PAY and MCO →Choose a stock to compare with PAY →

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