The Q4 2025 13F season
← Every quarter101 of the 101 managers we track have filed a Q4 2025 13F. Between them they opened 812 new positions and sold out of 842, across 2,523 names.
A 13F is due within 45 days of the quarter's end — 2026-02-14 for Q4 2025. Every tracked manager has filed.
Each manager is compared against their OWN previous filed book, never the calendar's previous quarter — a manager who skipped a quarter would otherwise report every line they hold as new. 2 positions were reported under a different identifier than in the manager's previous book (an ADR line becoming an ordinary one, a CUSIP re-issue); they are counted as held, and as neither a new position nor an exit. 37 lines this quarter carry no ticker in the register; they are counted, and they cannot appear on the two name boards.
The biggest new positions
A name a manager reported holding this quarter and did not report in their own previous book. The value is the one the manager filed.
| Manager | Company | Reported value |
|---|---|---|
| BDT CAPITAL PARTNERS, LLC | ALH ALLIANCE LAUNDRY HLDGS INC | $2.9B |
| Sanders Capital, LLC | CRM SALESFORCE INC | $2.3B |
| Dodge & Cox | BN BROOKFIELD CORP | $1.9B |
| Pershing Square Capital Management, L.P. | META META PLATFORMS INC | $1.8B |
| WINDACRE PARTNERSHIP LLC | ROP ROPER TECHNOLOGIES INC | $1.4B |
| WCM INVESTMENT MANAGEMENT, LLC | SHOP SHOPIFY INC | $1.1B |
| GQG Partners LLC | BRK.B BERKSHIRE HATHAWAY INC DEL | $1.0B |
| WCM INVESTMENT MANAGEMENT, LLC | FERG FERGUSON ENTERPRISES INC | $994M |
| Berkshire Hathaway Inc | LLYVK LIBERTY LIVE HOLDINGS INC | $908M |
| Situational Awareness LP | BE BLOOM ENERGY CORP | $876M |
Free: the top 10 of 812 · Pro: every new position in the quarter.
The biggest exits
A name in a manager's previous book that is absent from this one. The value is what the manager reported for it LAST quarter — the only value that line ever had.
| Manager | Company | Value when last reported | Their prior book |
|---|---|---|---|
| Berkshire Hathaway Inc | — LIBERTY MEDIA CORP DEL | $1.1B | 2025-Q3 |
| LONE PINE CAPITAL LLC | META META PLATFORMS INC | $971M | 2025-Q3 |
| COATUE MANAGEMENT LLC | CRWV COREWEAVE INC | $920M | 2025-Q3 |
| Pershing Square Capital Management, L.P. | CMG CHIPOTLE MEXICAN GRILL INC | $844M | 2025-Q3 |
| Pentwater Capital Management LP | K KELLANOVA | $820M | 2025-Q3 |
| GQG Partners LLC | MELI MERCADOLIBRE INC | $777M | 2025-Q3 |
| VIKING GLOBAL INVESTORS LP | BLK BLACKROCK INC | $722M | 2025-Q3 |
| VIKING GLOBAL INVESTORS LP | PM PHILIP MORRIS INTL INC | $718M | 2025-Q3 |
| GQG Partners LLC | DB DEUTSCHE BK AG | $706M | 2025-Q3 |
| VIKING GLOBAL INVESTORS LP | META META PLATFORMS INC | $682M | 2025-Q3 |
Free: the top 10 of 842 · Pro: every exit in the quarter.
The names most managers added
Opened, or increased by more than 2% of the shares they already held — the same threshold every filer page applies.
Free: the top 10 of 1,423 · Pro: every name added this quarter.
What most of them hold
How many of the tracked managers reported the name at all this quarter — overlap, not conviction.
Free: the top 10 of 2,523 · Pro: every name the roster reported.