L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 5 Feb 2026
Managers listing it
28
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
8,332,889
combined, among listed positions
Reported value
$326m
combined, at the quarter end

Among the 92 comparable managers: 11 buyers (opened or added shares) and 19 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +95,266.

Managers listing PPLI 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
Southeastern Asset Management Inc3,989,340$156m6.95%Added+1,221,82913 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC1,651,207$65munder 0.1%Added+502,92717 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.419,633$16munder 0.1%Trimmed-83,88817 Feb 2026 (the filing on sec.gov)
Invesco Ltd368,842$14munder 0.1%Trimmed-10,98919 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC315,013$12munder 0.1%Added+105,68610 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC307,213$12munder 0.1%Added+161,80217 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC178,480$7.0munder 0.1%Trimmed-94,82313 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP171,168$6.7munder 0.1%Trimmed-306,88413 Feb 2026 (the filing on sec.gov)
Man Group PLC138,906$5.4munder 0.1%Trimmed-118,33917 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC101,932$4.0munder 0.1%Trimmed-116,17717 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP99,703$3.9munder 0.1%Trimmed-3,89317 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC87,680$3.4munder 0.1%Trimmed-61,25317 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC87,155$3.4munder 0.1%Trimmed-115,93412 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP70,194$2.7munder 0.1%Added+14,50517 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc57,862$2.3munder 0.1%Added+2,41517 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)55,971$2.2munder 0.1%Trimmed-244,56917 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP45,418$1.8munder 0.1%Added+13,61817 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP35,819$1.4munder 0.1%Added+29,58213 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd32,898$1.3munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP23,500$919kunder 0.1%Added+9,88317 Feb 2026 (the filing on sec.gov)
Millennium Management LLC22,324$873kunder 0.1%Trimmed-162,74817 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP19,925$779kunder 0.1%Trimmed-38,07217 Feb 2026 (the filing on sec.gov)
GAMCO Investors Inc15,187$594kunder 0.1%Trimmed-4,9725 Feb 2026 (the filing on sec.gov)
Winton Group Ltd13,914$544kunder 0.1%Trimmed-16,44311 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP10,394$406kunder 0.1%Trimmed-5,57413 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.
4 in Q3 2024 to 3 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.
PPLI by quarter
QuarterHoldersReported valueBuyersSellers
Q2 202117$2.3bnn.a.n.a.
Q3 202113$1.8bnn.a.n.a.
Q4 20218$1.7bnn.a.n.a.
Q1 202212$1.2bnn.a.n.a.
Q2 20229$825mn.a.n.a.
Q3 20227$496mn.a.n.a.
Q4 20229$423mn.a.n.a.
Q1 20236$381mn.a.n.a.
Q2 20237$474mn.a.n.a.
Q3 20235$251mn.a.n.a.
Q4 20236$265m33
Q1 20246$250m34
Q2 20245$180m33
Q3 20244$213m31
Q4 20244$159m32
Q1 20255$163m41
Q2 20254$152m23
Q3 20253$107m03
Q4 20253$171m1119
Q1 20261$161m1116
Q2 20263$164m1314

Compare with…

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

PPLI and GOOGL →PPLI and META →PPLI and SPCX →Choose a stock to compare with PPLI →

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