Free · no sign-up · Q2 2026

Which funds own ET

Energy Transfer L P in the Q2 2026 filings. At least 3 of the 91 current managers on file reported a position, worth $1.4bn 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: $1.4bn; as reported
Opened: 0; new this quarter
Added to: 1; already held
Trimmed or sold out: 1; 0 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
Invesco Ltd Long-only · $1264bn book	$1.1bn	0.1%	54,927,735	-$32m-1,163,743	Trimmed
Neuberger Berman Group LLC Long-only · $150bn book	$319m	0.2%	16,691,083	+$13m+851,267	Added
Appaloosa LP Activist · $7.7bn book	$30m	0.4%	1,576,125	-$300k0	Held

Ownership through time

At least 3 of the 95 managers whose filings are on file listed ET in Q2 2026, against 5 in Q2 2013. The same number as in Q1 2026.

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

No manager on file started a position.

Largest increases, by shares

Neuberger Berman Group LLC15,839,816 to 16,691,083 shares+$16m

Largest decreases, by shares

Invesco Ltd56,091,478 to 54,927,735 shares-$22m

Left it

No manager on file is shown leaving it.

Manager	First listed	Largest	Q2 2026
Invesco Ltd	Q2 2013	$1.1bn	$1.1bn
Neuberger Berman Group LLC	Q2 2013	$1.2bn	$319m
Appaloosa LP	Q2 2017	$175m	$30m
Fidelity (FMR LLC)	Q2 2016	$820m	last listed Q3 2025
Balyasny Asset Management LLC	Q2 2013	$155m	last listed Q4 2017
Susquehanna International Group LLP	Q4 2019	$150m	last listed Q4 2022
MFS Investment Management	Q3 2014	$134m	last listed Q1 2019
Arrowstreet Capital LP	Q2 2017	$94m	last listed Q4 2022
Moore Capital Management LP	Q1 2020	$68m	last listed Q3 2020
Baupost Group LLC	Q1 2020	$56m	last listed Q1 2020
Renaissance Technologies LLC	Q3 2015	$50m	last listed Q2 2019
Millennium Management LLC	Q1 2015	$50m	last listed Q4 2016
Schonfeld Strategic Advisors LLC	Q1 2019	$41m	last listed Q2 2022

What ET 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 ET →

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

One email a week on what moved in the market and what it means for the people interviewing into it, with the 13F changes the quarter they are filed.

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