Which funds own WTW
Willis Towers Watson PLC LTD in the Q2 2026 filings. At least 8 of the 91 current managers on file reported a position, worth $9.0bn 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
- 8
- at least, of 91 current
- Combined value
- $9.0bn
- as reported
- Opened
- 0
- new this quarter
- Added to
- 5
- already held
- Trimmed or sold out
- 4
- 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 |
|---|---|---|---|---|---|
| MFS Investment Management Long-only · $315bn book | $2.3bn | 0.7% | 5,491,383 | -$323m-376,150 | Trimmed |
| Dodge & Cox Activist · $191bn book | $2.1bn | 1.1% | 8,025,392 | -$34m+692,978 | Added |
| Harris Associates LP Activist · $75.4bn book | $1.5bn | 2.0% | 5,908,033 | -$205m-109,649 | Trimmed |
| Artisan Partners LP Long-only · $63.1bn book | $1.4bn | 2.3% | 5,541,048 | +$348m+1,754,431 | Added |
| First Eagle Investment Management LLC Activist · $60.8bn book | $1.2bn | 1.9% | 4,475,860 | -$92m+136,499 | Added |
| Arrowstreet Capital LP Quantitative · $225bn book | $267m | 0.1% | 1,022,261 | +$175m+706,103 | Added |
| Janus Henderson Group Ltd Long-only · $245bn book | $240m | 0.1% | 916,295 | -$23m+12,533 | Added |
| Polen Capital Management LLC Long-only · $11.6bn book | $3.4m | 0.0% | 12,833 | -$2.3m-6,543 | Trimmed |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Baupost Group LLC · Activist$260m held before
Ownership through time
At least 13 of the 95 managers whose filings are on file listed WTW in Q2 2026, against 1 in Q4 2015. 8 managers fewer than in Q1 2026: 1 sold out, by its own filing; 7 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.
- Q4 2015: 1
- Q1 2016: 17
- Q2 2016: 13
- Q3 2016: 15
- Q4 2016: 10
- Q1 2017: 12
- Q2 2017: 12
- Q3 2017: 15
- Q4 2017: 14
- Q1 2018: 16
- Q2 2018: 12
- Q3 2018: 19
- Q4 2018: 12
- Q1 2019: 18
- Q2 2019: 16
- Q3 2019: 18
- Q4 2019: 17
- Q1 2020: 25
- Q2 2020: 25
- Q3 2020: 26
- Q4 2020: 28
- Q1 2021: 26
- Q2 2021: 24
- Q3 2021: 24
- Q4 2021: 25
- Q1 2022: 22
- Q2 2022: 21
- Q3 2022: 19
- Q4 2022: 18
- Q1 2023: 22
- Q2 2023: 15
- Q3 2023: 18
- Q4 2023: 22
- Q1 2024: 22
- Q2 2024: 22
- Q3 2024: 24
- Q4 2024: 20
- Q1 2025: 20
- Q2 2025: 22
- Q3 2025: 16
- Q4 2025: 15
- Q1 2026: 21
- Q2 2026: 13
- Q4 2015: $13m
- Q1 2016: $4.9bn
- Q2 2016: $5.2bn
- Q3 2016: $5.8bn
- Q4 2016: $5.1bn
- Q1 2017: $5.7bn
- Q2 2017: $6.2bn
- Q3 2017: $6.2bn
- Q4 2017: $6.2bn
- Q1 2018: $6.4bn
- Q2 2018: $6.6bn
- Q3 2018: $5.7bn
- Q4 2018: $6.4bn
- Q1 2019: $7.1bn
- Q2 2019: $7.5bn
- Q3 2019: $6.9bn
- Q4 2019: $7.1bn
- Q1 2020: $5.5bn
- Q2 2020: $6.1bn
- Q3 2020: $5.6bn
- Q4 2020: $4.7bn
- Q1 2021: $5.6bn
- Q2 2021: $5.1bn
- Q3 2021: $4.8bn
- Q4 2021: $5.5bn
- Q1 2022: $6.5bn
- Q2 2022: $6.0bn
- Q3 2022: $6.3bn
- Q4 2022: $7.6bn
- Q1 2023: $7.4bn
- Q2 2023: $7.4bn
- Q3 2023: $6.8bn
- Q4 2023: $7.8bn
- Q1 2024: $8.6bn
- Q2 2024: $8.1bn
- Q3 2024: $8.7bn
- Q4 2024: $9.2bn
- Q1 2025: $10.0bn
- Q2 2025: $9.6bn
- Q3 2025: $11.4bn
- Q4 2025: $11.5bn
- Q1 2026: $11.7bn
- Q2 2026: $10.3bn
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
- Artisan Partners LP3,786,617 to 5,541,048 shares+$459m
- T. Rowe Price Associates Inc1,010,073 to 1,721,323 shares+$186m
- Arrowstreet Capital LP316,158 to 1,022,261 shares+$185m
- Dodge & Cox7,332,414 to 8,025,392 shares+$181m
- First Eagle Investment Management LLC4,339,361 to 4,475,860 shares+$36m
Largest decreases, by shares
- MFS Investment Management5,867,533 to 5,491,383 shares-$155m
- AllianceBernstein LP991,158 to 637,033 shares-$103m
- Invesco Ltd2,327,401 to 2,171,679 shares-$41m
- Harris Associates LP6,017,682 to 5,908,033 shares-$29m
- Polen Capital Management LLC19,376 to 12,833 shares-$1.7m
Left it
- Baupost Group LLCwas $260m
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| MFS Investment Management | Q3 2019 | $2.6bn | $2.3bn | |
| Dodge & Cox | Q2 2025 | $2.3bn | $2.1bn | |
| Harris Associates LP | Q1 2016 | $1.8bn | $1.5bn | |
| Artisan Partners LP | Q2 2016 | $1.6bn | $1.4bn | |
| First Eagle Investment Management LLC | Q1 2016 | $1.5bn | $1.2bn | |
| Invesco Ltd | Q1 2016 | $827m | $568m | |
| T. Rowe Price Associates Inc | Q1 2016 | $3.3bn | $450m | |
| Arrowstreet Capital LP | Q1 2018 | $267m | $267m | |
| Janus Henderson Group Ltd | Q1 2016 | $421m | $239m | |
| AllianceBernstein LP | Q1 2020 | $414m | $185m | |
| Point72 Asset Management LP | Q3 2018 | $122m | $46m | |
| Renaissance Technologies LLC | Q1 2017 | $128m | $38m | |
| Polen Capital Management LLC | Q4 2024 | $124m | $3.4m | |
| Fidelity (FMR LLC) | Q4 2018 | $1.3bn | last listed Q1 2026 | |
| ValueAct Holdings LP | Q1 2016 | $1.1bn | last listed Q3 2017 | |
| Capital Research Global Investors | Q1 2017 | $805m | last listed Q1 2025 | |
| Farallon Capital Management LLC | Q3 2020 | $799m | last listed Q3 2021 | |
| Capital World Investors | Q3 2018 | $696m | last listed Q2 2021 | |
| Davidson Kempner Capital Management LP | Q1 2020 | $600m | last listed Q4 2021 | |
| Baupost Group LLC | Q1 2021 | $575m | last listed Q1 2026 | |
| Starboard Value LP | Q4 2021 | $506m | last listed Q2 2023 | |
| Wellington Management Group LLP | Q1 2016 | $357m | last listed Q3 2025 | |
| Citadel Advisors LLC | Q3 2017 | $313m | last listed Q3 2024 |
What WTW 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 WTW →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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