L3VLUP
Quarter end
31 Mar 2025
the date the book describes
Filed
5 Nov 2026
latest of these filings; the earliest 2 May 2025
Managers listing it
44
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q4 2024 and Q1 2025; 37 listed it in both
Shares listed
309,472,873
combined, among listed positions
Reported value
$49.1bn
combined, at the quarter end

Among the 95 comparable managers: 20 buyers (opened or added shares) and 22 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 PM in Q1 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q4 2024, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

44 of 44 holders

ActionFiling
Capital World Investors129,103,092$20.5bn3.32%Added+6,518,88212 May 2025 (the filing on sec.gov)
Capital Research Global Investors44,890,733$7.1bn1.55%Trimmed-5,955,28212 May 2025 (the filing on sec.gov)
Fidelity (FMR LLC)28,668,629$4.6bn0.29%Added+6,620,8975 Nov 2026 (the filing on sec.gov)
Wellington Management Group LLP21,840,422$3.5bn0.67%Added+4,563,63213 May 2025 (the filing on sec.gov)
Invesco Ltd16,356,417$2.6bn0.49%Trimmed-859,19812 May 2025 (the filing on sec.gov)
T. Rowe Price Associates Inc12,924,792$2.1bn0.25%Trimmed-2,422,06614 May 2025 (the filing on sec.gov)
MFS Investment Management9,018,628$1.4bn0.48%Added+1,635,6362 May 2025 (the filing on sec.gov)
First Eagle Investment Management LLC8,984,382$1.4bn2.98%Trimmed-512,09112 May 2025 (the filing on sec.gov)
AllianceBernstein LP4,918,341$781m0.28%Added+205,36915 May 2025 (the filing on sec.gov)
Arrowstreet Capital LP4,019,658$638m0.52%Trimmed-1,065,82114 May 2025 (the filing on sec.gov)
Neuberger Berman Group LLC3,346,103$531m0.44%Added+863,15927 Oct 2026 (the filing on sec.gov)
Viking Global Investors LP3,213,460$510m1.62%Trimmed-1,874,49015 May 2025 (the filing on sec.gov)
Lone Pine Capital LLC3,008,542$478m4.12%Trimmed-3,459,83015 May 2025 (the filing on sec.gov)
AQR Capital Management LLC3,002,216$474m0.49%Added+1,580,36815 May 2025 (the filing on sec.gov)
Acadian Asset Management LLC1,660,629$264m0.74%Added+743,79121 May 2025 (the filing on sec.gov)
Coatue Management LLC1,555,900$247m1.09%Newnew15 May 2025 (the filing on sec.gov)
Maverick Capital Ltd1,534,546$244m4.31%Trimmed-584,67515 May 2025 (the filing on sec.gov)
D1 Capital Partners LP1,505,033$239m3.66%Trimmed-2,125,00015 May 2025 (the filing on sec.gov)
D. E. Shaw & Co.1,338,687$212m0.19%Trimmed-402,17615 May 2025 (the filing on sec.gov)
Janus Henderson Group Ltd1,317,614$204m0.11%Added+20,59115 May 2025 (the filing on sec.gov)
Artisan Partners LP1,254,819$199m0.32%Added+2,66014 May 2025 (the filing on sec.gov)
Hudson Bay Capital Management LP1,002,602$159m0.49%Newnew14 May 2025 (the filing on sec.gov)
Balyasny Asset Management LLC963,401$153m0.25%Addedn.a.15 May 2025 (the filing on sec.gov)
Millennium Management LLC962,263$153m0.08%Added+157,63115 May 2025 (the filing on sec.gov)
Jane Street Group LLC794,364$126munder 0.1%Addedn.a.19 May 2025 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q4 2024 to Q1 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.
39 in Q3 2024 to 27 in Q2 2026

Tracked managers listing it, at least.

02040602014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
PM by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201329$22.1bnn.a.n.a.
Q3 201328$22.5bnn.a.n.a.
Q4 201329$22.6bnn.a.n.a.
Q1 201430$21.4bnn.a.n.a.
Q2 201431$22.6bnn.a.n.a.
Q3 201426$22.2bnn.a.n.a.
Q4 201427$21.7bnn.a.n.a.
Q1 201530$20.6bnn.a.n.a.
Q2 201526$21.4bnn.a.n.a.
Q3 201525$21.6bnn.a.n.a.
Q4 201522$24.7bnn.a.n.a.
Q1 201628$29.2bnn.a.n.a.
Q2 201634$30.6bnn.a.n.a.
Q3 201633$28.9bnn.a.n.a.
Q4 201630$27.1bnn.a.n.a.
Q1 201726$34.1bnn.a.n.a.
Q2 201727$34.7bnn.a.n.a.
Q3 201730$32.0bnn.a.n.a.
Q4 201727$29.4bnn.a.n.a.
Q1 201834$27.4bnn.a.n.a.
Q2 201829$23.1bnn.a.n.a.
Q3 201821$22.5bnn.a.n.a.
Q4 201836$18.6bnn.a.n.a.
Q1 201927$23.5bnn.a.n.a.
Q2 201924$20.4bnn.a.n.a.
Q3 201928$18.8bnn.a.n.a.
Q4 201929$21.8bnn.a.n.a.
Q1 202025$19.1bnn.a.n.a.
Q2 202028$18.0bnn.a.n.a.
Q3 202025$19.7bnn.a.n.a.
Q4 202025$21.5bnn.a.n.a.
Q1 202127$22.1bnn.a.n.a.
Q2 202120$23.2bnn.a.n.a.
Q3 202125$22.8bnn.a.n.a.
Q4 202126$22.3bnn.a.n.a.
Q1 202229$23.2bnn.a.n.a.
Q2 202228$25.8bnn.a.n.a.
Q3 202233$22.2bnn.a.n.a.
Q4 202226$27.0bnn.a.n.a.
Q1 202336$27.6bnn.a.n.a.
Q2 202329$28.9bnn.a.n.a.
Q3 202332$28.5bnn.a.n.a.
Q4 202334$28.8bn1617
Q1 202436$28.4bn2113
Q2 202431$31.4bn1614
Q3 202439$38.2bn2215
Q4 202440$36.6bn2217
Q1 202544$49.1bn2022
Q2 202544$54.3bn1923
Q3 202536$49.3bn2015
Q4 202526$50.5bn2024
Q1 202625$57.3bn2217
Q2 202627$63.8bn2019

Compare with…

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

PM and KO →PM and COST →PM and CVS →Choose a stock to compare with PM →

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