Which funds own ICE
Intercontinental Exchange In in the Q2 2026 filings. At least 19 of the 91 current managers on file reported a position, worth $9.2bn between them. At least a fifth of the current managers on file hold it, which is a crowd without being the whole market. The quarter went one way: 14 managers opened or added against 7 cutting.
- Managers holding
- 19
- at least, of 91 current
- Combined value
- $9.2bn
- as reported
- Opened
- 4
- new this quarter
- Added to
- 10
- already held
- Trimmed or sold out
- 7
- 3 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 |
|---|---|---|---|---|---|
| Harris Associates LP Activist · $75.4bn book | $2.2bn | 2.9% | 18,050,700 | -$348m+1,708,442 | Added |
| Wellington Management Group LLP Long-only · $580bn book | $1.5bn | 0.3% | 11,812,273 | -$147m+1,634,385 | Added |
| T. Rowe Price Associates Inc Long-only · $999bn book | $1.3bn | 0.1% | 10,932,954 | -$346m+174,657 | Added |
| Capital World Investors Long-only · $846bn book | $817m | 0.1% | 6,639,000 | -$132m+604,517 | Added |
| D. E. Shaw & Co. Quantitative · $210bn book | $633m | 0.3% | 5,145,207 | +$244m+2,670,742 | Added |
| Millennium Management LLC Multi-strategy · $276bn book | $513m | 0.2% | 4,166,481 | +$197m+2,157,513 | Added |
| Janus Henderson Group Ltd Long-only · $245bn book | $474m | 0.2% | 3,850,472 | -$514m-2,465,509 | Trimmed |
| Viking Global Investors LP Long/short equity · $35.1bn book | $342m | 1.0% | 2,777,138 | -$419m-2,059,758 | Trimmed |
| Ruane Cunniff & Goldfarb LP Activist · $6.4bn book | $315m | 4.9% | 2,560,747 | -$100m-78,625 | Trimmed |
| Arrowstreet Capital LP Quantitative · $225bn book | $312m | 0.1% | 2,530,471 | +$28m+726,607 | Added |
| Two Sigma Investments LP Quantitative · $138bn book | $250m | 0.2% | 2,029,234 | opened2,029,234 | New |
| Renaissance Technologies LLC Quantitative · $72.6bn book | $156m | 0.2% | 1,269,289 | opened1,269,289 | New |
| Point72 Asset Management LP Multi-strategy · $90.7bn book | $123m | 0.1% | 1,002,253 | +$76m+697,534 | Added |
| Tudor Investment Corp Macro · $71.9bn book | $89m | 0.1% | 719,580 | +$57m+515,402 | Added |
| Voloridge Investment Management LLC Quantitative · $23.5bn book | $71m | 0.3% | 575,330 | opened575,330 | New |
| Schonfeld Strategic Advisors LLC Multi-strategy · $27.9bn book | $40m | 0.1% | 323,883 | -$15m-26,615 | Trimmed |
| Quantbot Technologies LP Quantitative · $2.5bn book | $15m | 0.6% | 121,645 | +$15m+119,109 | Added |
| Winton Group Ltd Quantitative · $3.1bn book | $4.7m | 0.2% | 38,200 | opened38,200 | New |
| Markel Group Inc Activist · $13.1bn book | $3.6m | 0.0% | 28,870 | -$1.0m0 | Held |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Freestone Grove Partners LP · Multi-strategy$29m held before
- ARK Investment Management LLC · Long-only$4.6m held before
- GAMCO Investors Inc · Activist$200k held before
Ownership through time
At least 33 of the 95 managers whose filings are on file listed ICE in Q2 2026, against 1 in Q3 2013. 5 managers more than in Q1 2026: 5 started positions; 5 listed it again; 1 sold out, by its own filing; 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.
- Q3 2013: 1
- Q4 2013: 16
- Q1 2014: 21
- Q2 2014: 19
- Q3 2014: 17
- Q4 2014: 19
- Q1 2015: 17
- Q2 2015: 20
- Q3 2015: 16
- Q4 2015: 20
- Q1 2016: 23
- Q2 2016: 24
- Q3 2016: 21
- Q4 2016: 24
- Q1 2017: 22
- Q2 2017: 18
- Q3 2017: 22
- Q4 2017: 23
- Q1 2018: 24
- Q2 2018: 17
- Q3 2018: 21
- Q4 2018: 28
- Q1 2019: 26
- Q2 2019: 25
- Q3 2019: 21
- Q4 2019: 32
- Q1 2020: 30
- Q2 2020: 29
- Q3 2020: 27
- Q4 2020: 18
- Q1 2021: 23
- Q2 2021: 21
- Q3 2021: 21
- Q4 2021: 25
- Q1 2022: 24
- Q2 2022: 30
- Q3 2022: 24
- Q4 2022: 21
- Q1 2023: 24
- Q2 2023: 21
- Q3 2023: 22
- Q4 2023: 20
- Q1 2024: 18
- Q2 2024: 27
- Q3 2024: 34
- Q4 2024: 38
- Q1 2025: 42
- Q2 2025: 34
- Q3 2025: 30
- Q4 2025: 29
- Q1 2026: 28
- Q2 2026: 33
- Q3 2013: $2.4m
- Q4 2013: $5.2bn
- Q1 2014: $4.4bn
- Q2 2014: $3.9bn
- Q3 2014: $4.0bn
- Q4 2014: $4.4bn
- Q1 2015: $4.3bn
- Q2 2015: $3.9bn
- Q3 2015: $4.5bn
- Q4 2015: $5.5bn
- Q1 2016: $4.7bn
- Q2 2016: $5.9bn
- Q3 2016: $6.2bn
- Q4 2016: $6.7bn
- Q1 2017: $6.6bn
- Q2 2017: $7.5bn
- Q3 2017: $8.1bn
- Q4 2017: $8.2bn
- Q1 2018: $8.4bn
- Q2 2018: $7.8bn
- Q3 2018: $8.4bn
- Q4 2018: $9.1bn
- Q1 2019: $8.9bn
- Q2 2019: $9.9bn
- Q3 2019: $10.6bn
- Q4 2019: $9.3bn
- Q1 2020: $7.3bn
- Q2 2020: $7.5bn
- Q3 2020: $7.2bn
- Q4 2020: $8.0bn
- Q1 2021: $7.4bn
- Q2 2021: $6.9bn
- Q3 2021: $7.0bn
- Q4 2021: $8.3bn
- Q1 2022: $8.2bn
- Q2 2022: $6.5bn
- Q3 2022: $4.6bn
- Q4 2022: $5.5bn
- Q1 2023: $5.2bn
- Q2 2023: $5.6bn
- Q3 2023: $6.5bn
- Q4 2023: $8.1bn
- Q1 2024: $7.5bn
- Q2 2024: $8.1bn
- Q3 2024: $11.0bn
- Q4 2024: $10.0bn
- Q1 2025: $12.2bn
- Q2 2025: $12.5bn
- Q3 2025: $11.4bn
- Q4 2025: $12.4bn
- Q1 2026: $12.6bn
- Q2 2026: $11.3bn
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
Largest increases, by shares
- D. E. Shaw & Co.2,474,465 to 5,145,207 shares+$329m
- Millennium Management LLC2,008,968 to 4,166,481 shares+$266m
- Two Sigma Investments LPnew: 2,029,234 shares+$250m
- Harris Associates LP16,342,258 to 18,050,700 shares+$210m
- Wellington Management Group LLP10,177,888 to 11,812,273 shares+$201m
Largest decreases, by shares
- Janus Henderson Group Ltd6,315,981 to 3,850,472 shares-$304m
- Viking Global Investors LP4,836,896 to 2,777,138 shares-$254m
- Fidelity (FMR LLC)6,584,742 to 6,340,751 shares-$30m
- AllianceBernstein LP757,438 to 587,432 shares-$27m
- Neuberger Berman Group LLC671,814 to 573,438 shares-$12m
Left it
- ARK Investment Management LLCwas $4.6m
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Harris Associates LP | Q2 2021 | $2.6bn | $2.2bn | |
| Wellington Management Group LLP | Q4 2013 | $2.1bn | $1.5bn | |
| T. Rowe Price Associates Inc | Q4 2013 | $3.9bn | $1.3bn | |
| Capital World Investors | Q2 2014 | $2.2bn | $817m | |
| Fidelity (FMR LLC) | Q4 2013 | $1.8bn | $781m | |
| D. E. Shaw & Co. | Q4 2014 | $633m | $633m | |
| Millennium Management LLC | Q1 2014 | $513m | $513m | |
| Janus Henderson Group Ltd | Q4 2013 | $1.1bn | $474m | |
| Citadel Advisors LLC | Q1 2016 | $373m | $373m | |
| Invesco Ltd | Q4 2015 | $965m | $367m | |
| Viking Global Investors LP | Q2 2016 | $778m | $342m | |
| Ruane Cunniff & Goldfarb LP | Q3 2013 | $805m | $315m | |
| Arrowstreet Capital LP | Q2 2017 | $510m | $312m | |
| AQR Capital Management LLC | Q3 2015 | $285m | $285m | |
| Two Sigma Investments LP | Q1 2015 | $250m | $250m | |
| Lone Pine Capital LLC | Q4 2013 | $656m | last listed Q3 2017 | |
| ARK Investment Management LLC | Q1 2018 | $627m | last listed Q1 2026 | |
| Artisan Partners LP | Q4 2013 | $557m | last listed Q2 2025 | |
| Third Point LLC | Q1 2016 | $388m | last listed Q2 2025 | |
| MFS Investment Management | Q4 2013 | $374m | last listed Q2 2020 | |
| Two Sigma Advisers LP | Q2 2015 | $316m | last listed Q3 2025 | |
| Marshall Wace LLP | Q4 2014 | $290m | last listed Q4 2024 | |
| Balyasny Asset Management LLC | Q4 2013 | $205m | last listed Q1 2026 | |
| Egerton Capital UK LLP | Q1 2014 | $198m | last listed Q3 2025 | |
| Acadian Asset Management LLC | Q3 2021 | $179m | last listed Q1 2026 |
What managers have said about ICE
Arguments made in the managers’ own SEC filings, each checked against the filing and reviewed by a person. A view is as filed on its date, not a current recommendation.
- Harris Associates L.P. · Long · 2022-11-23
Harris bought Intercontinental Exchange, arguing its three segments should grow earnings well above GDP while the stock trades at roughly the market multiple.
The filing on sec.govListed at Q2 2026$2.2bn - Ruane, Cunniff & Goldfarb L.P. · Long · 2022-08-31
Ruane increased Sequoia's investment in Intercontinental Exchange in the second quarter of 2022.
The filing on sec.govListed at Q2 2026$315m
What ICE 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 ICE →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
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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