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
26
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 9 listed it in both
Shares listed
27,204,484
combined, among listed positions
Reported value
$2.8bn
combined, at the quarter end

Among the 92 comparable managers: 19 buyers (opened or added shares) and 12 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +905,601.

Managers listing RBA 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.

26 of 26 holders

ActionFiling
MFS Investment Management10,892,186$1.1bn0.36%Added+165,26022 Jan 2026 (the filing on sec.gov)
Janus Henderson Group Ltd4,085,897$420m0.19%Added+576,34717 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)3,535,590$364munder 0.1%Trimmed-1,132,52517 Feb 2026 (the filing on sec.gov)
Invesco Ltd2,946,978$303munder 0.1%Added+83,43819 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP2,140,399$221munder 0.1%Added+187,68317 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP839,364$86m0.18%Added+349,23217 Feb 2026 (the filing on sec.gov)
Millennium Management LLC696,513$72munder 0.1%Added+170,69317 Feb 2026 (the filing on sec.gov)
Woodline Partners LP440,279$45m0.18%Added+126,54117 Feb 2026 (the filing on sec.gov)
Moore Capital Management LP305,557$31m0.45%Added+169,75517 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC285,878$29m0.09%Newnew13 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP247,960$26munder 0.1%Added+77717 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc157,967$16munder 0.1%Added+10,38017 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP147,260$15munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC78,354$8.1munder 0.1%Trimmed-20,25817 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC69,734$7.2munder 0.1%Added+26,10517 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP58,821$6.1munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC55,769$5.7munder 0.1%Trimmed-131,69417 Feb 2026 (the filing on sec.gov)
GAMCO Investors Inc55,000$5.7m0.05%Trimmed-1,0005 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP42,632$4.4munder 0.1%Added+27,22717 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP30,233$3.1munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Man Group PLC26,325$2.7munder 0.1%Added+10,83517 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC19,661$2.0munder 0.1%Trimmed-2,04527 Oct 2026 (the filing on sec.gov)
Two Sigma Advisers LP16,636$1.7munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC15,845$1.6munder 0.1%Added+12,05413 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC7,668$789kunder 0.1%Trimmed-5,48712 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.
8 in Q3 2024 to 9 in Q2 2026

Tracked managers listing it, at least.

051015Q2 2023Q4 2023Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
RBA by quarter
QuarterHoldersReported valueBuyersSellers
Q2 202311$978mn.a.n.a.
Q3 20239$1.1bnn.a.n.a.
Q4 202311$1.1bn65
Q1 20248$1.2bn35
Q2 20247$1.2bn42
Q3 20248$1.3bn43
Q4 20249$1.5bn53
Q1 202512$1.9bn92
Q2 202510$1.8bn45
Q3 202510$2.7bn75
Q4 20259$2.3bn1912
Q1 20269$1.8bn1315
Q2 20269$2.3bn1712

Compare with…

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

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

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