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
27
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 4 listed it in both
Shares listed
5,862,915
combined, among listed positions
Reported value
$342m
combined, at the quarter end

Among the 92 comparable managers: 14 buyers (opened or added shares) and 17 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +912,047.

Managers listing SMG 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.

27 of 27 holders

ActionFiling
Fidelity (FMR LLC)1,462,160$85munder 0.1%Added+820,56317 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC613,693$36munder 0.1%Added+172,35617 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP494,004$29munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Millennium Management LLC450,776$26munder 0.1%Trimmed-199,65417 Feb 2026 (the filing on sec.gov)
GAMCO Investors Inc387,170$23m0.22%Added+34,3505 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC386,788$22munder 0.1%Trimmed-120,23617 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP333,795$19munder 0.1%Added+55,38217 Feb 2026 (the filing on sec.gov)
Invesco Ltd254,087$15munder 0.1%Added+51,73819 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC233,798$14munder 0.1%Added+192,66113 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP199,700$12munder 0.1%Trimmed-25,50017 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP180,864$11munder 0.1%Trimmed-24,64917 Feb 2026 (the filing on sec.gov)
Markel Group Inc168,000$9.8m0.08%Held06 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC142,414$8.3munder 0.1%Added+87,57517 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP68,090$4.0munder 0.1%Trimmed-28,70317 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP64,188$3.7munder 0.1%Trimmed-9,88717 Feb 2026 (the filing on sec.gov)
PDT Partners LLC61,769$3.6m0.23%Trimmed-38,06617 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP57,620$3.4munder 0.1%Added+26,56013 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC54,500$3.2munder 0.1%Trimmed-307,70012 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc45,032$2.6munder 0.1%Added+2,47317 Feb 2026 (the filing on sec.gov)
Man Group PLC44,389$2.6munder 0.1%Added+80617 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP37,858$2.2munder 0.1%Trimmed-2,18817 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC37,209$2.2munder 0.1%Added+10,37013 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC36,964$2.2munder 0.1%Trimmed-73,26012 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd19,855$1.2munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC15,704$916kunder 0.1%Added+3,48527 Oct 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 7 in Q2 2026

Tracked managers listing it, at least.

0510152014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
SMG by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20133$342mn.a.n.a.
Q3 20133$398mn.a.n.a.
Q4 20138$624mn.a.n.a.
Q1 20144$461mn.a.n.a.
Q2 20146$437mn.a.n.a.
Q3 20148$445mn.a.n.a.
Q4 20146$522mn.a.n.a.
Q1 201511$770mn.a.n.a.
Q2 20158$484mn.a.n.a.
Q3 20159$537mn.a.n.a.
Q4 20157$492mn.a.n.a.
Q1 20167$543mn.a.n.a.
Q2 20167$443mn.a.n.a.
Q3 20167$524mn.a.n.a.
Q4 20166$948mn.a.n.a.
Q1 20178$870mn.a.n.a.
Q2 20176$757mn.a.n.a.
Q3 20178$867mn.a.n.a.
Q4 20179$792mn.a.n.a.
Q1 20189$708mn.a.n.a.
Q2 20186$603mn.a.n.a.
Q3 20185$279mn.a.n.a.
Q4 201810$210mn.a.n.a.
Q1 20196$278mn.a.n.a.
Q2 20199$357mn.a.n.a.
Q3 201911$330mn.a.n.a.
Q4 20198$300mn.a.n.a.
Q1 20206$267mn.a.n.a.
Q2 202011$278mn.a.n.a.
Q3 202010$388mn.a.n.a.
Q4 20208$464mn.a.n.a.
Q1 202110$445mn.a.n.a.
Q2 20218$337mn.a.n.a.
Q3 20218$278mn.a.n.a.
Q4 20217$401mn.a.n.a.
Q1 20226$326mn.a.n.a.
Q2 20226$170mn.a.n.a.
Q3 20224$78mn.a.n.a.
Q4 20226$206mn.a.n.a.
Q1 20238$247mn.a.n.a.
Q2 20238$194mn.a.n.a.
Q3 20236$170mn.a.n.a.
Q4 20238$221m52
Q1 20248$378m80
Q2 202410$359m81
Q3 202411$264m46
Q4 20249$166m62
Q1 20258$142m52
Q2 20256$62m32
Q3 20256$55m32
Q4 20256$92m1417
Q1 20268$149m1810
Q2 20267$168m1417

Compare with…

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

SMG and LIN →SMG and GLW →SMG and HWM →Choose a stock to compare with SMG →

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