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
34
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
33,582,340
combined, among listed positions
Reported value
$1.2bn
combined, at the quarter end

Among the 92 comparable managers: 27 buyers (opened or added shares) and 9 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +12,435,589.

Managers listing TREX 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.

34 of 34 holders

ActionFiling
Wellington Management Group LLP7,225,393$253munder 0.1%Added+5,251,29717 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP6,503,478$228m0.07%Trimmed-1,040,44717 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC3,895,534$137m0.07%Added+2,297,53317 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,901,418$67munder 0.1%Added+1,644,15917 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.1,765,060$62munder 0.1%Added+1,708,23417 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP1,662,342$58m0.07%Newnew17 Feb 2026 (the filing on sec.gov)
Freestone Grove Partners LP1,537,938$54m0.39%Newnew17 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)1,284,867$45munder 0.1%Added+57,32717 Feb 2026 (the filing on sec.gov)
Millennium Management LLC1,207,545$42munder 0.1%Added+99,21317 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP976,612$34munder 0.1%Added+747,23817 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC857,927$30munder 0.1%Added+576,10512 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC759,228$27munder 0.1%Added+425,42013 Feb 2026 (the filing on sec.gov)
Woodline Partners LP620,488$22m0.08%Newnew17 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP574,500$20munder 0.1%Added+464,70017 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC297,227$10munder 0.1%Added+278,57617 Feb 2026 (the filing on sec.gov)
Invesco Ltd287,265$10munder 0.1%Added+80,26119 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC277,500$9.7munder 0.1%Trimmed-286,10012 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp235,273$8.3munder 0.1%Added+163,59417 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC214,353$7.5munder 0.1%Trimmed-873,25417 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP184,736$6.5munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Man Group PLC157,908$5.5munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Quantbot Technologies LP146,579$5.1m0.17%Newnew10 Feb 2026 (the filing on sec.gov)
GAMCO Investors Inc144,490$5.1munder 0.1%Newnew5 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP140,305$4.9munder 0.1%Added+124,49413 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP138,257$4.8munder 0.1%Added+5,76813 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.
14 in Q3 2024 to 11 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.
TREX by quarter
QuarterHoldersReported valueBuyersSellers
Q4 20132$6.0mn.a.n.a.
Q1 20141$1.8mn.a.n.a.
Q2 20142$13mn.a.n.a.
Q3 20141$26mn.a.n.a.
Q4 20141$983kn.a.n.a.
Q1 20151$24mn.a.n.a.
Q3 20151$45mn.a.n.a.
Q4 20151$1.5mn.a.n.a.
Q1 20161$6.9mn.a.n.a.
Q2 20161$2.1mn.a.n.a.
Q3 20161$2.8mn.a.n.a.
Q4 20162$2.9mn.a.n.a.
Q1 20172$3.4mn.a.n.a.
Q2 20172$79mn.a.n.a.
Q3 20172$78mn.a.n.a.
Q4 20175$86mn.a.n.a.
Q1 20183$5.8mn.a.n.a.
Q2 20183$10mn.a.n.a.
Q3 20184$27mn.a.n.a.
Q4 20185$9.6mn.a.n.a.
Q1 20195$29mn.a.n.a.
Q2 20199$134mn.a.n.a.
Q3 20197$195mn.a.n.a.
Q4 20198$283mn.a.n.a.
Q1 20207$237mn.a.n.a.
Q2 202012$824mn.a.n.a.
Q3 20208$633mn.a.n.a.
Q4 20209$939mn.a.n.a.
Q1 20218$861mn.a.n.a.
Q2 20217$1.1bnn.a.n.a.
Q3 20218$1.5bnn.a.n.a.
Q4 202113$2.2bnn.a.n.a.
Q1 202211$1.3bnn.a.n.a.
Q2 20226$1.0bnn.a.n.a.
Q3 202213$813mn.a.n.a.
Q4 202211$406mn.a.n.a.
Q1 202312$542mn.a.n.a.
Q2 202316$826mn.a.n.a.
Q3 202321$838mn.a.n.a.
Q4 202318$1.1bn108
Q1 202419$1.2bn810
Q2 202415$988m105
Q3 202414$796m103
Q4 202410$1.4bn64
Q1 202514$1.3bn85
Q2 202511$1.1bn66
Q3 20258$702m64
Q4 202511$820m279
Q1 202612$928m1420
Q2 202611$1.4bn1515

Compare with…

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

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

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