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
31
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 11 listed it in both
Shares listed
53,208,895
combined, among listed positions
Reported value
$3.8bn
combined, at the quarter end

Among the 92 comparable managers: 15 buyers (opened or added shares) and 14 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -3,973,698.

Managers listing TCOM 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.

31 of 31 holders

ActionFiling
Capital World Investors32,809,848$2.4bn0.32%Trimmed-5,074,87811 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP6,698,293$482m0.08%Added+1,888,87117 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP3,485,052$251m0.23%Added+2,545,81613 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)3,316,420$238munder 0.1%Trimmed-3,629,10217 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd1,592,109$114m0.05%Trimmed-42,41117 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC940,771$68munder 0.1%Added+606,73617 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.849,904$61munder 0.1%Added+172,31417 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP655,400$47m0.09%Added+212,80017 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC623,566$45munder 0.1%Trimmed-153,56912 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP377,363$27munder 0.1%Added+369,86317 Feb 2026 (the filing on sec.gov)
Invesco Ltd374,459$27munder 0.1%Added+38,43819 Feb 2026 (the filing on sec.gov)
Man Group PLC341,600$25munder 0.1%Trimmed-657,82617 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC236,712$17munder 0.1%Trimmed-6,20012 Feb 2026 (the filing on sec.gov)
Millennium Management LLC210,104$15munder 0.1%Added+67,53717 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC190,501$14munder 0.1%Trimmed-451,42417 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC128,163$9.2munder 0.1%Held010 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP66,766$4.8munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC61,678$4.4munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP45,523$3.3munder 0.1%Added+10,38817 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC41,288$3.0munder 0.1%Trimmed-27,49513 Feb 2026 (the filing on sec.gov)
MFS Investment Management31,507$2.3munder 0.1%Trimmed-3,11322 Jan 2026 (the filing on sec.gov)
Neuberger Berman Group LLC27,692$2.0munder 0.1%Added+20,56227 Oct 2026 (the filing on sec.gov)
Dodge & Cox19,250$1.4munder 0.1%Held013 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP18,418$1.3munder 0.1%Added+14,50917 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp15,661$1.1munder 0.1%Newnew17 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.

Exited (0)

No exit shown by a manager’s own filing.

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.
18 in Q3 2024 to 6 in Q2 2026

Tracked managers listing it, at least.

051015202020202120222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
TCOM by quarter
QuarterHoldersReported valueBuyersSellers
Q4 201917$3.7bnn.a.n.a.
Q1 202016$2.8bnn.a.n.a.
Q2 202015$2.8bnn.a.n.a.
Q3 202016$3.0bnn.a.n.a.
Q4 202012$2.9bnn.a.n.a.
Q1 202113$2.3bnn.a.n.a.
Q2 202114$2.3bnn.a.n.a.
Q3 202110$1.9bnn.a.n.a.
Q4 202111$1.3bnn.a.n.a.
Q1 20229$913mn.a.n.a.
Q2 202212$842mn.a.n.a.
Q3 202212$1.1bnn.a.n.a.
Q4 202213$1.2bnn.a.n.a.
Q1 202312$1.3bnn.a.n.a.
Q2 202312$2.0bnn.a.n.a.
Q3 202313$2.1bnn.a.n.a.
Q4 202311$1.8bn56
Q1 202410$2.5bn36
Q2 202413$2.8bn85
Q3 202418$4.9bn118
Q4 202415$5.9bn610
Q1 202514$5.3bn68
Q2 202510$3.0bn67
Q3 202511$4.1bn45
Q4 20259$3.3bn1514
Q1 20269$2.2bn1814
Q2 20266$1.7bn919

Compare with…

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

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

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