Which funds own MO
Altria Group Inc in the Q2 2026 filings. At least 11 of the 91 current managers on file reported a position, worth $7.2bn 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
- 11
- at least, of 91 current
- Combined value
- $7.2bn
- as reported
- Opened
- 1
- new this quarter
- Added to
- 6
- already held
- Trimmed or sold out
- 5
- 2 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 |
|---|---|---|---|---|---|
| Capital Research Global Investors Long-only · $717bn book | $4.2bn | 0.6% | 58,653,624 | +$2.5bn+32,973,712 | Added |
| Capital World Investors Long-only · $846bn book | $1.3bn | 0.2% | 18,480,673 | +$114m+64,574 | Added |
| Arrowstreet Capital LP Quantitative · $225bn book | $510m | 0.2% | 7,082,195 | -$98m-2,120,045 | Trimmed |
| AQR Capital Management LLC Quantitative · $287bn book | $427m | 0.1% | 5,940,353 | +$76m+610,528 | Added |
| Marshall Wace LLP Quantitative · $127bn book | $360m | 0.3% | 5,006,159 | +$130m+1,517,876 | Added |
| Renaissance Technologies LLC Quantitative · $72.6bn book | $128m | 0.2% | 1,781,400 | +$18m+104,900 | Added |
| Bridgewater Associates LP Macro · $24.4bn book | $124m | 0.5% | 1,727,216 | +$12m+21,705 | Added |
| Acadian Asset Management LLC Quantitative · $84.2bn book | $80m | 0.1% | 1,107,002 | +$200k-96,747 | Trimmed |
| Maverick Capital Ltd Long/short equity · $11.3bn book | $3.6m | 0.0% | 50,201 | +$200k-2,121 | Trimmed |
| Dodge & Cox Activist · $191bn book | $1.5m | 0.0% | 20,500 | +$100k0 | Held |
| Element Capital Management LLC Macro · $3.2bn book | $1.2m | 0.0% | 16,000 | opened16,000 | New |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Holocene Advisors LP · Long/short equity$14m held before
- GAMCO Investors Inc · Activist$400k held before
Ownership through time
At least 21 of the 95 managers whose filings are on file listed MO in Q2 2026, against 21 in Q2 2013. 1 manager fewer than in Q1 2026: 3 started positions; 4 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.
- Q2 2013: 21
- Q3 2013: 22
- Q4 2013: 19
- Q1 2014: 19
- Q2 2014: 21
- Q3 2014: 23
- Q4 2014: 17
- Q1 2015: 28
- Q2 2015: 24
- Q3 2015: 26
- Q4 2015: 23
- Q1 2016: 25
- Q2 2016: 28
- Q3 2016: 25
- Q4 2016: 25
- Q1 2017: 29
- Q2 2017: 24
- Q3 2017: 29
- Q4 2017: 24
- Q1 2018: 15
- Q2 2018: 22
- Q3 2018: 24
- Q4 2018: 22
- Q1 2019: 18
- Q2 2019: 19
- Q3 2019: 29
- Q4 2019: 26
- Q1 2020: 27
- Q2 2020: 21
- Q3 2020: 25
- Q4 2020: 17
- Q1 2021: 17
- Q2 2021: 20
- Q3 2021: 20
- Q4 2021: 18
- Q1 2022: 24
- Q2 2022: 29
- Q3 2022: 25
- Q4 2022: 22
- Q1 2023: 24
- Q2 2023: 19
- Q3 2023: 21
- Q4 2023: 19
- Q1 2024: 20
- Q2 2024: 20
- Q3 2024: 20
- Q4 2024: 19
- Q1 2025: 19
- Q2 2025: 20
- Q3 2025: 27
- Q4 2025: 22
- Q1 2026: 22
- Q2 2026: 21
- Q2 2013: $9.0bn
- Q3 2013: $8.8bn
- Q4 2013: $9.0bn
- Q1 2014: $9.0bn
- Q2 2014: $10.5bn
- Q3 2014: $11.4bn
- Q4 2014: $11.3bn
- Q1 2015: $10.7bn
- Q2 2015: $10.1bn
- Q3 2015: $10.8bn
- Q4 2015: $11.1bn
- Q1 2016: $11.9bn
- Q2 2016: $13.4bn
- Q3 2016: $12.0bn
- Q4 2016: $12.7bn
- Q1 2017: $14.2bn
- Q2 2017: $15.7bn
- Q3 2017: $12.7bn
- Q4 2017: $14.2bn
- Q1 2018: $13.4bn
- Q2 2018: $12.1bn
- Q3 2018: $12.0bn
- Q4 2018: $10.1bn
- Q1 2019: $15.8bn
- Q2 2019: $12.5bn
- Q3 2019: $10.3bn
- Q4 2019: $13.1bn
- Q1 2020: $10.7bn
- Q2 2020: $10.0bn
- Q3 2020: $9.6bn
- Q4 2020: $9.9bn
- Q1 2021: $12.6bn
- Q2 2021: $11.9bn
- Q3 2021: $11.3bn
- Q4 2021: $10.5bn
- Q1 2022: $12.1bn
- Q2 2022: $8.5bn
- Q3 2022: $7.6bn
- Q4 2022: $8.4bn
- Q1 2023: $9.0bn
- Q2 2023: $9.0bn
- Q3 2023: $7.3bn
- Q4 2023: $6.5bn
- Q1 2024: $7.3bn
- Q2 2024: $7.3bn
- Q3 2024: $7.3bn
- Q4 2024: $7.3bn
- Q1 2025: $8.1bn
- Q2 2025: $6.1bn
- Q3 2025: $6.7bn
- Q4 2025: $4.7bn
- Q1 2026: $6.2bn
- Q2 2026: $8.8bn
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
Largest increases, by shares
- Capital Research Global Investors25,679,912 to 58,653,624 shares+$2.4bn
- Marshall Wace LLP3,488,283 to 5,006,159 shares+$109m
- AQR Capital Management LLC5,329,825 to 5,940,353 shares+$44m
- T. Rowe Price Associates Inc4,642,881 to 4,838,426 shares+$14m
- Voloridge Investment Management LLCnew: 192,835 shares+$14m
Largest decreases, by shares
- Arrowstreet Capital LP9,202,240 to 7,082,195 shares-$153m
- Freestone Grove Partners LP1,069,321 to 109,549 shares-$69m
- D. E. Shaw & Co.1,946,018 to 1,586,265 shares-$26m
- Man Group PLC750,754 to 428,918 shares-$23m
- MFS Investment Management1,496,196 to 1,262,056 shares-$17m
Left it
No manager on file is shown leaving it.
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Capital Research Global Investors | Q2 2013 | $7.0bn | $4.2bn | |
| Capital World Investors | Q2 2013 | $6.4bn | $1.3bn | |
| Invesco Ltd | Q2 2013 | $893m | $844m | |
| Arrowstreet Capital LP | Q1 2017 | $1.2bn | $510m | |
| AQR Capital Management LLC | Q2 2013 | $427m | $427m | |
| Marshall Wace LLP | Q1 2014 | $360m | $360m | |
| T. Rowe Price Associates Inc | Q2 2013 | $1.3bn | $348m | |
| Renaissance Technologies LLC | Q2 2013 | $378m | $128m | |
| AllianceBernstein LP | Q2 2013 | $1.0bn | $125m | |
| Bridgewater Associates LP | Q3 2013 | $244m | $124m | |
| D. E. Shaw & Co. | Q3 2015 | $178m | $114m | |
| MFS Investment Management | Q2 2013 | $912m | $92m | |
| Acadian Asset Management LLC | Q3 2013 | $243m | $80m | |
| Man Group PLC | Q1 2019 | $93m | $31m | |
| Woodline Partners LP | Q4 2024 | $26m | $26m | |
| Fidelity (FMR LLC) | Q2 2013 | $4.5bn | last listed Q2 2024 | |
| Janus Henderson Group Ltd | Q2 2013 | $1.5bn | last listed Q3 2020 | |
| Wellington Management Group LLP | Q2 2013 | $1.0bn | last listed Q4 2019 | |
| Harris Associates LP | Q2 2013 | $521m | last listed Q4 2024 | |
| Balyasny Asset Management LLC | Q2 2015 | $347m | last listed Q3 2025 | |
| Two Sigma Advisers LP | Q2 2013 | $333m | last listed Q3 2024 | |
| Citadel Advisors LLC | Q2 2016 | $316m | last listed Q3 2025 | |
| Two Sigma Investments LP | Q2 2013 | $199m | last listed Q3 2024 | |
| Millennium Management LLC | Q2 2013 | $194m | last listed Q1 2026 | |
| Susquehanna International Group LLP | Q2 2013 | $193m | last listed Q1 2020 |
What MO 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 MO →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.
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The holdings, every quarter, and the week between
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