Free · no sign-up · Q2 2026

Which funds own CFR

Cullen Frost Bankers Inc in the Q2 2026 filings. At least 3 of the 91 current managers on file reported a position, worth $951m between them. It is among the largest positions of fewer than a fifth of the current managers on file. Buying and selling roughly cancelled this quarter, which is what a name looks like when the argument is still live.

Managers holding: 3; at least, of 91 current
Combined value: $951m; as reported
Opened: 1; new this quarter
Added to: 2; already held
Trimmed or sold out: 1; 1 sold out entirely

Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.

Managers reporting a position

Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.

Manager	Value	Weight	Shares	Change on the quarter	Action
First Eagle Investment Management LLC Activist · $60.8bn book	$429m	0.7%	2,777,658	+$119m+511,784	Added
Baillie Gifford & Co Long-only · $110bn book	$345m	0.3%	2,233,298	opened2,233,298	New
Two Sigma Investments LP Quantitative · $138bn book	$177m	0.1%	1,144,332	+$86m+484,393	Added

Sold out of this quarter

Valued at what the position was worth in the previous filing, because by this one it is gone.

Bridgewater Associates LP · Macro$13m held before

Ownership through time

At least 6 of the 95 managers whose filings are on file listed CFR in Q2 2026, against 3 in Q2 2013. 1 manager more than in Q1 2026: 2 started positions; 1 listed it again; 1 sold out, by its own filing; 1 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.

Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.

Managers on file listing it

Their combined reported value

Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.

Started in Q2 2026

Baillie Gifford & Co$345m
ExodusPoint Capital Management LP$5.4m

Largest increases, by shares

Baillie Gifford & Conew: 2,233,298 shares+$345m
First Eagle Investment Management LLC2,265,874 to 2,777,658 shares+$79m
Two Sigma Investments LP659,939 to 1,144,332 shares+$75m
ExodusPoint Capital Management LPnew: 34,929 shares+$5.4m

Largest decreases, by shares

Janus Henderson Group Ltd647,235 to 610,241 shares-$5.7m

Left it

Bridgewater Associates LPwas $13m

Manager	First listed	Largest	Q2 2026
First Eagle Investment Management LLC	Q1 2026	$429m	$429m
Baillie Gifford & Co	Q3 2018	$345m	$345m
Two Sigma Investments LP	Q4 2014	$177m	$177m
Janus Henderson Group Ltd	Q3 2022	$167m	$94m
Verition Fund Management LLC	Q4 2014	$17m	$7.2m
ExodusPoint Capital Management LP	Q1 2019	$6.5m	$5.4m
Fidelity (FMR LLC)	Q2 2016	$438m	last listed Q2 2018
Capital Research Global Investors	Q4 2016	$333m	last listed Q1 2023
Invesco Ltd	Q2 2015	$272m	last listed Q3 2022
Neuberger Berman Group LLC	Q2 2013	$227m	last listed Q1 2026
Wellington Management Group LLP	Q1 2018	$216m	last listed Q1 2022
Capital World Investors	Q2 2013	$135m	last listed Q3 2014
Balyasny Asset Management LLC	Q2 2013	$56m	last listed Q2 2024
MFS Investment Management	Q1 2020	$48m	last listed Q3 2020
Millennium Management LLC	Q4 2014	$47m	last listed Q1 2017
Holocene Advisors LP	Q1 2019	$47m	last listed Q2 2025

What CFR is worth

Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.

Build the comp set around CFR →

How much of the picture this is

A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.

What to do with a name the funds are buying

Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.

Comps ExplorerValue it against the peers it trades beside Every managerRead any of these books in full Deal tapeWhat buyers paid for whole companies, not slices Hedge fund interviewsHow the room runs, and the stock pitch it wants

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The holdings, every quarter, and the week between

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