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
35
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 7 listed it in both
Shares listed
39,591,943
combined, among listed positions
Reported value
$1.8bn
combined, at the quarter end

Among the 92 comparable managers: 26 buyers (opened or added shares) and 8 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +5,977,313.

Managers listing TAP 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.

35 of 35 holders

ActionFiling
Dodge & Cox18,610,924$869m0.47%Trimmed-20,30013 Feb 2026 (the filing on sec.gov)
Invesco Ltd4,485,000$209munder 0.1%Added+54,45619 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC2,763,019$129m0.07%Added+495,08017 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP2,531,145$118m0.07%Added+1,528,00413 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC1,339,329$63munder 0.1%Added+1,310,42712 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC1,321,159$62m0.07%Added+411,03513 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,283,469$60munder 0.1%Trimmed-2,032,94817 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.1,043,681$49munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP1,019,675$48m0.07%Newnew17 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP983,041$46m0.09%Added+922,64117 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP892,198$42munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)688,924$32munder 0.1%Added+373,41217 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC474,424$22m0.08%Added+465,94717 Feb 2026 (the filing on sec.gov)
Man Group PLC440,843$21munder 0.1%Added+352,12717 Feb 2026 (the filing on sec.gov)
Millennium Management LLC357,514$17munder 0.1%Trimmed-729,73717 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc240,946$11munder 0.1%Trimmed-182,40917 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP180,691$8.4munder 0.1%Added+9,06817 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP160,966$7.5munder 0.1%Trimmed-195,78617 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP152,359$7.1m0.06%Newnew17 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC119,607$5.6munder 0.1%Trimmed-22,64217 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd119,247$5.6munder 0.1%Added+54,42417 Feb 2026 (the filing on sec.gov)
GAMCO Investors Inc82,958$3.9munder 0.1%Added+8,8745 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC61,001$2.8munder 0.1%Trimmed-34,29113 Feb 2026 (the filing on sec.gov)
Quantbot Technologies LP60,869$2.8m0.09%Added+9,99810 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP45,355$2.1munder 0.1%Added+15,63813 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.
6 in Q3 2024 to 12 in Q2 2026

Tracked managers listing it, at least.

01020302014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
TAP by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201314$609mn.a.n.a.
Q3 20135$599mn.a.n.a.
Q4 20133$620mn.a.n.a.
Q1 20146$629mn.a.n.a.
Q2 201410$1.1bnn.a.n.a.
Q3 201415$1.2bnn.a.n.a.
Q4 201412$1.0bnn.a.n.a.
Q1 201517$1.2bnn.a.n.a.
Q2 201521$1.4bnn.a.n.a.
Q3 201521$1.9bnn.a.n.a.
Q4 201523$2.3bnn.a.n.a.
Q1 201623$3.3bnn.a.n.a.
Q2 201623$3.3bnn.a.n.a.
Q3 201625$3.5bnn.a.n.a.
Q4 201619$3.0bnn.a.n.a.
Q1 201716$2.9bnn.a.n.a.
Q2 201715$2.5bnn.a.n.a.
Q3 201715$1.9bnn.a.n.a.
Q4 201717$1.7bnn.a.n.a.
Q1 201811$956mn.a.n.a.
Q2 201810$937mn.a.n.a.
Q3 201811$855mn.a.n.a.
Q4 201814$880mn.a.n.a.
Q1 201910$1.0bnn.a.n.a.
Q2 201910$1.1bnn.a.n.a.
Q3 201911$1.3bnn.a.n.a.
Q4 20198$1.3bnn.a.n.a.
Q1 20209$1.2bnn.a.n.a.
Q2 202011$1.1bnn.a.n.a.
Q3 20209$1.1bnn.a.n.a.
Q4 202010$1.6bnn.a.n.a.
Q1 202110$2.0bnn.a.n.a.
Q2 202111$2.0bnn.a.n.a.
Q3 20216$1.5bnn.a.n.a.
Q4 20217$1.5bnn.a.n.a.
Q1 20227$1.8bnn.a.n.a.
Q2 202210$2.1bnn.a.n.a.
Q3 20228$1.6bnn.a.n.a.
Q4 20228$1.8bnn.a.n.a.
Q1 20239$1.7bnn.a.n.a.
Q2 202319$2.3bnn.a.n.a.
Q3 202317$2.2bnn.a.n.a.
Q4 202314$1.7bn87
Q1 202410$1.6bn58
Q2 202410$1.2bn83
Q3 20246$1.3bn24
Q4 20247$1.2bn34
Q1 20256$1.1bn42
Q2 20256$851m42
Q3 20257$1.0bn52
Q4 202513$1.4bn268
Q1 202612$1.3bn2017
Q2 202612$1.5bn1813

Compare with…

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

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

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