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
30
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 17 listed it in both
Shares listed
21,657,699
combined, among listed positions
Reported value
$2.9bn
combined, at the quarter end

Among the 92 comparable managers: 18 buyers (opened or added shares) and 14 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +3,111,316.

Managers listing TOL 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.

30 of 30 holders

ActionFiling
Capital World Investors5,196,302$703m0.10%Added+8,62911 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)3,312,902$448munder 0.1%Trimmed-380,26417 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc3,303,915$447munder 0.1%Added+3,151,50917 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC2,200,986$298m0.16%Trimmed-282,35317 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,054,554$143munder 0.1%Added+946,52017 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP998,363$135m0.28%Trimmed-1,225,92617 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC678,838$92m0.32%Added+54,96917 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC626,950$85m0.11%Added+283,96217 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP611,083$83m0.12%Added+320,70917 Feb 2026 (the filing on sec.gov)
Millennium Management LLC513,522$69munder 0.1%Added+57,24517 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd466,735$63munder 0.1%Added+39,91317 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC444,679$60m0.18%Added+75,17313 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP406,000$55m0.11%Added+160,10017 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP310,287$42m0.15%Trimmed-84,13413 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP277,128$37munder 0.1%Added+32,37113 Feb 2026 (the filing on sec.gov)
Invesco Ltd270,713$37munder 0.1%Added+14,18019 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP152,288$21munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
MFS Investment Management151,406$20munder 0.1%Trimmed-25,69922 Jan 2026 (the filing on sec.gov)
Woodline Partners LP150,471$20m0.08%Trimmed-167,70317 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP124,936$17munder 0.1%Trimmed-4,62217 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC96,220$13m0.05%Trimmed-7,39313 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC78,236$11munder 0.1%Added+62,94417 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC63,400$8.6munder 0.1%Newnew12 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP59,712$8.1munder 0.1%Trimmed-27,54917 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC49,440$6.7munder 0.1%Added+5,16327 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.
19 in Q3 2024 to 16 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.
TOL by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201311$762mn.a.n.a.
Q3 20137$547mn.a.n.a.
Q4 20138$741mn.a.n.a.
Q1 20147$960mn.a.n.a.
Q2 20148$996mn.a.n.a.
Q3 20149$865mn.a.n.a.
Q4 201412$770mn.a.n.a.
Q1 201511$656mn.a.n.a.
Q2 201514$754mn.a.n.a.
Q3 201515$645mn.a.n.a.
Q4 201513$467mn.a.n.a.
Q1 201614$307mn.a.n.a.
Q2 201612$239mn.a.n.a.
Q3 201610$302mn.a.n.a.
Q4 201614$534mn.a.n.a.
Q1 20179$402mn.a.n.a.
Q2 201714$901mn.a.n.a.
Q3 201712$870mn.a.n.a.
Q4 201716$943mn.a.n.a.
Q1 201812$660mn.a.n.a.
Q2 201812$644mn.a.n.a.
Q3 201814$307mn.a.n.a.
Q4 201813$540mn.a.n.a.
Q1 201911$574mn.a.n.a.
Q2 20196$592mn.a.n.a.
Q3 201912$841mn.a.n.a.
Q4 201913$920mn.a.n.a.
Q1 20209$456mn.a.n.a.
Q2 202010$678mn.a.n.a.
Q3 202012$1.4bnn.a.n.a.
Q4 20208$1.2bnn.a.n.a.
Q1 20218$1.5bnn.a.n.a.
Q2 20218$1.1bnn.a.n.a.
Q3 20215$986mn.a.n.a.
Q4 202110$1.3bnn.a.n.a.
Q1 20228$468mn.a.n.a.
Q2 20228$528mn.a.n.a.
Q3 202212$578mn.a.n.a.
Q4 202215$890mn.a.n.a.
Q1 202319$978mn.a.n.a.
Q2 202318$1.2bnn.a.n.a.
Q3 202318$1.2bnn.a.n.a.
Q4 202320$1.3bn513
Q1 202422$1.8bn1112
Q2 202420$1.1bn1012
Q3 202419$1.5bn89
Q4 202419$1.4bn145
Q1 202522$1.7bn1310
Q2 202517$1.7bn144
Q3 202518$2.4bn146
Q4 202517$2.1bn1814
Q1 202619$1.7bn2114
Q2 202616$2.9bn1520

Compare with…

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

TOL and KLAC →TOL and GE →TOL and LRCX →Choose a stock to compare with TOL →

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