L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
19 Feb 2026
latest of these filings; the earliest 10 Feb 2026
Managers listing it
24
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 1 listed it in both
Shares listed
2,388,077
combined, among listed positions
Reported value
$120m
combined, at the quarter end

Among the 92 comparable managers: 16 buyers (opened or added shares) and 10 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +611,814.

Managers listing VAL 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.

24 of 24 holders

ActionFiling
Invesco Ltd510,426$26munder 0.1%Added+36,00119 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP225,802$11munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC209,000$11munder 0.1%Added+92,80012 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC188,729$9.5munder 0.1%Trimmed-112,35117 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC156,851$7.9munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp133,929$6.8munder 0.1%Added+52,94017 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP127,288$6.4munder 0.1%Trimmed-1,34617 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC107,259$5.4munder 0.1%Added+71,61617 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC104,541$5.3munder 0.1%Added+43,30517 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP88,325$4.5munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP80,505$4.1munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP75,950$3.8munder 0.1%Added+65,66213 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc58,841$3.0munder 0.1%Trimmed-1,16217 Feb 2026 (the filing on sec.gov)
Millennium Management LLC54,031$2.7munder 0.1%Trimmed-1,57817 Feb 2026 (the filing on sec.gov)
Man Group PLC51,149$2.6munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.49,061$2.5munder 0.1%Added+29,15117 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC47,086$2.4munder 0.1%Trimmed-13,87113 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP30,191$1.5munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Winton Group Ltd27,510$1.4munder 0.1%Added+14611 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd27,468$1.4munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP22,049$1.1munder 0.1%Trimmed-18,96517 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)10,996$554kunder 0.1%Added+13517 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC1,080$54kunder 0.1%Newnew10 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC10$1kunder 0.1%Trimmed-88013 Feb 2026 (the filing on sec.gov)

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.
4 in Q3 2024 to 3 in Q2 2026

Tracked managers listing it, at least.

0246820222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
VAL by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20211$31mn.a.n.a.
Q3 20212$101mn.a.n.a.
Q4 20215$129mn.a.n.a.
Q1 20225$117mn.a.n.a.
Q2 20224$108mn.a.n.a.
Q3 20225$216mn.a.n.a.
Q4 20227$362mn.a.n.a.
Q1 20238$322mn.a.n.a.
Q2 20235$188mn.a.n.a.
Q3 20236$167mn.a.n.a.
Q4 20236$162m42
Q1 20244$153m32
Q2 20245$318m41
Q3 20244$41m31
Q4 20242$7.0m21
Q1 20252$3.8m20
Q2 20251$1.7m10
Q3 20252$4.4m11
Q4 20251$1.4m1610
Q1 20267$228m1514
Q2 20263$93m1613

Compare with…

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

VAL and GEV →VAL and XOM →VAL and CVX →Choose a stock to compare with VAL →

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