% of shares outstanding not shown: this line files 20-F annual reports only — a foreign private issuer whose US listing trades as ADSs (depositary receipts), while its cover-page share count is in ORDINARY shares. The depositary ratio is not in our data. The count we hold for this line is 649,583,574 shares (as of 2025-12-31, source dei). Dividing one by the other is wrong by the whole ratio (a 5:1 ADR reads one fifth of the true percentage), so the percentage is withheld rather than served wrong. Holder share counts are shown as filed.
Crowding percentile lands with its cohort — the cohort is size-matched, so it needs a market cap for TCOM in the served universe — that lands with the next screener build.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | Capital World Investors | 36,115,20936.1M | $1.8B | — | ADD 10% |
| 2 | MORGAN STANLEY | 13,107,01213.1M | $653M | — | TRIM -20% |
| 3 | Sanders Capital, LLC | 10,640,77410.6M | $530M | — | ADD 8% |
| 4 | Davis Selected Advisers | 6,555,1126.6M | $326M | — | ADD 30% |
| 5 | JPMORGAN CHASE & CO | 4,734,3064.7M | $233M | — | ADD 11% |
| 6 | Cantillon Capital Management LLC | 4,589,6214.6M | $229M | — | — |
| 7 | ARGA Investment Management, LP | 2,861,6172.9M | $142M | — | TRIM -27% |
| 8 | Legal & General Group Plc | 2,634,4102.6M | $131M | — | — |
| 9 | Robeco Institutional Asset Management B.V. | 2,611,5842.6M | $130M | — | ADD 156% |
| 10 | Greenwoods Asset Management Hong Kong Ltd. | 2,604,2812.6M | $130M | — | NEW |
| 11 | TWO SIGMA INVESTMENTS, LP | 2,490,8732.5M | $124M | — | ADD 560% |
| 12 | DIMENSIONAL FUND ADVISORS LP | 2,353,1342.4M | $117M | — | — |
| 13 | Aspex Management (HK) Ltd | 2,329,2902.3M | $116M | — | NEW |
| 14 | Temasek Holdings (Private) Ltd | 2,239,6712.2M | $112M | — | — |
| 15 | BlackRock, Inc. | 2,161,5092.2M | $108M | — | TRIM -11% |
| 16 | FMR LLC | 2,144,7562.1M | $107M | — | TRIM -35% |
| 17 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 2,058,1852.1M | $102M | — | ADD 50038% |
| 18 | Russell Investments Group, Ltd. | 1,917,6051.9M | $95M | — | TRIM -6% |
| 19 | BANK OF AMERICA CORP /DE/ | 1,887,7281.9M | $94M | — | ADD 178% |
| 20 | FEDERATED HERMES, INC. | 1,777,3741.8M | $88M | — | ADD 10% |
| 21 | GOLDMAN SACHS GROUP INC | 1,624,1791.6M | $81M | — | ADD 34% |
| 22 | Capital Research Global Investors | 1,580,1211.6M | $79M | — | NEW |
| 23 | D. E. Shaw & Co., Inc. | 1,542,5121.5M | $77M | — | ADD 81% |
| 24 | MARSHALL WACE, LLP | 1,533,1641.5M | $76M | — | TRIM -56% |
| 25 | WELLINGTON MANAGEMENT GROUP LLP | 1,390,4361.4M | $69M | — | TRIM -79% |
| 26 | Vontobel Holding Ltd. | 1,383,2131.4M | $69M | — | ADD 9% |
| 27 | SCHRODER INVESTMENT MANAGEMENT GROUP | 1,244,7011.2M | $62M | — | — |
| 28 | Point72 Asset Management, L.P. | 1,088,1841.1M | $54M | — | ADD 1530% |
| 29 | Clearbridge Investments, LLC | 1,006,3851.0M | $50M | — | TRIM -9% |
| 30 | Polar Capital Holdings Plc | 991,406991,406 | $49M | — | — |
| 31 | Intermede Investment Partners Ltd | 979,652979,652 | $49M | — | TRIM -8% |
| 32 | LOOMIS SAYLES & CO L P | 976,211976,211 | $49M | — | ADD 12% |
| 33 | UBS Group AG | 889,177889,177 | $44M | — | TRIM -58% |
| 34 | BRANDES INVESTMENT PARTNERS, LP | 867,912867,912 | $43M | — | ADD 2803% |
| 35 | NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | 788,403788,403 | $39M | — | TRIM -9% |
| 36 | SRS Investment Management, LLC | 757,817757,817 | $38M | — | — |
| 37 | LAZARD ASSET MANAGEMENT LLC | 707,519707,519 | $35M | — | TRIM -14% |
| 38 | Perseverance Asset Management International | 674,999674,999 | $34M | — | NEW |
| 39 | CAPITAL INTERNATIONAL SARL | 660,014660,014 | $33M | — | ADD 2% |
| 40 | Headwater Capital Co Ltd | 660,000660,000 | $33M | — | ADD 103% |
| 41 | NORTHERN TRUST CORP | 645,033645,033 | $32M | — | — |
| 42 | C WorldWide Group Holding A/S | 601,167601,167 | $30M | — | TRIM -2% |
| 43 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 538,044538,044 | $27M | — | ADD 2821% |
| 44 | Green Court Capital Management Ltd | 495,524495,524 | $25M | — | ADD 16% |
| 45 | ABN AMRO INVESTMENT SOLUTIONS | 493,968493,968 | $25M | — | ADD 91% |
| 46 | VOLORIDGE INVESTMENT MANAGEMENT, LLC | 463,941463,941 | $23M | — | ADD 144% |
| 47 | Balyasny Asset Management L.P. | 430,366430,366 | $21M | — | ADD 598% |
| 48 | Handelsbanken Fonder AB | 412,000412,000 | $21M | — | — |
| 49 | DekaBank Deutsche Girozentrale | 405,000405,000 | $20M | — | — |
| 50 | BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 400,908400,908 | $20M | — | TRIM -9% |
| 51 | Amundi | 395,202395,202 | $20M | — | ADD 28% |
| 52 | Triata Capital Ltd | 388,593388,593 | $19M | — | ADD 13% |
| 53 | PLATINUM INVESTMENT MANAGEMENT LTD | 379,718379,718 | $19M | — | TRIM -14% |
| 54 | Capital International Investors | 378,250378,250 | $19M | — | TRIM -94% |
| 55 | True Light Capital Pte. Ltd. | 373,751373,751 | $19M | — | — |
| 56 | SEI INVESTMENTS CO | 370,430370,430 | $18M | — | ADD 25% |
| 57 | CAPITAL INTERNATIONAL LTD /CA/ | 361,726361,726 | $18M | — | TRIM -3% |
| 58 | Capital International, Inc./CA/ | 351,436351,436 | $17M | — | TRIM -17% |
| 59 | Qube Research & Technologies Ltd | 347,663347,663 | $17M | — | ADD 7% |
| 60 | TB Alternative Assets Ltd. | 325,920325,920 | $16M | — | ADD 261% |
| 61 | WT Asset Management Ltd | 310,767310,767 | $15M | — | NEW |
| 62 | Ardmore Road Asset Management LP | 300,000300,000 | $15M | — | NEW |
| 63 | Invesco Ltd. | 274,271274,271 | $14M | — | TRIM -27% |
| 64 | BNP PARIBAS FINANCIAL MARKETS | 263,944263,944 | $13M | — | ADD 1744% |
| 65 | M&G PLC | 261,593261,593 | $13M | — | ADD 18% |
| 66 | WIM INVESTMENT MANAGEMENT Ltd | 258,550258,550 | $13M | — | — |
| 67 | AMERICAN CENTURY COMPANIES INC | 252,547252,547 | $13M | — | TRIM -16% |
| 68 | MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 31,54531,545 | $12M | — | — |
| 69 | Boston Common Asset Management, LLC | 235,273235,273 | $12M | — | ADD 18% |
| 70 | JANE STREET GROUP, LLC | 233,580233,580 | $12M | — | TRIM -63% |
| 71 | CITIGROUP INC | 227,647227,647 | $11M | — | TRIM -14% |
| 72 | CapitalatWork S.A. | 211,200211,200 | $11M | — | NEW |
| 73 | GEODE CAPITAL MANAGEMENT, LLC | 208,476208,476 | $10M | — | — |
| 74 | BARCLAYS PLC | 194,787194,787 | $10M | — | ADD 27% |
| 75 | XTX Topco Ltd | 190,936190,936 | $10M | — | ADD 598% |
| 76 | Y-Intercept (Hong Kong) Ltd | 187,905187,905 | $9M | — | ADD 400% |
| 77 | Tairen Capital Ltd | 187,500187,500 | $9M | — | TRIM -61% |
| 78 | SIH Partners, LLLP | 186,954186,954 | $9M | — | TRIM -41% |
| 79 | NEW YORK STATE COMMON RETIREMENT FUND | 182,284182,284 | $9M | — | TRIM -64% |
| 80 | Trivest Advisors Ltd | 181,095181,095 | $9M | — | TRIM -64% |
| 81 | OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC | 179,699179,699 | $9M | — | ADD 2% |
| 82 | ENVESTNET ASSET MANAGEMENT INC | 179,404179,404 | $9M | — | ADD 36% |
| 83 | 1832 Asset Management L.P. | 178,858178,858 | $9M | — | ADD 9% |
| 84 | CITADEL ADVISORS LLC | 176,088176,088 | $9M | — | TRIM -81% |
| 85 | RENAISSANCE TECHNOLOGIES LLC | 173,912173,912 | $9M | — | TRIM -27% |
| 86 | KBC Group NV | 172,562172,562 | $9M | — | ADD 4% |
| 87 | FRANKLIN RESOURCES INC | 170,630170,630 | $8M | — | ADD 4904% |
| 88 | WELLS FARGO & COMPANY/MN | 167,450167,450 | $8M | — | ADD 318% |
| 89 | TUDOR INVESTMENT CORP ET AL | 154,662154,662 | $8M | — | ADD 888% |
| 90 | MACKENZIE FINANCIAL CORP | 140,707140,707 | $7M | — | ADD 2% |
| 91 | HSBC HOLDINGS PLC | 139,699139,699 | $7M | — | TRIM -5% |
| 92 | ROYAL BANK OF CANADA | 136,340136,340 | $7M | — | ADD 163% |
| 93 | Tidal Investments LLC | 133,767133,767 | $7M | — | ADD 585% |
| 94 | IMC-Chicago, LLC | 129,058129,058 | $6M | — | NEW |
| 95 | ACADIAN ASSET MANAGEMENT LLC | 128,163128,163 | $6M | — | — |
| 96 | GROUP ONE TRADING LLC | 127,515127,515 | $6M | — | NEW |
| 97 | U S GLOBAL INVESTORS INC | 123,343123,343 | $6M | — | ADD 8% |
| 98 | Ovata Capital Management Ltd | 115,045115,045 | $6M | — | ADD 3% |
| 99 | NORDEA INVESTMENT MANAGEMENT AB | 110,918110,918 | $5M | — | TRIM -81% |
| 100 | MILLENNIUM MANAGEMENT LLC | 108,190108,190 | $5M | — | TRIM -49% |
Ranked by each filer’s own reported value, not shares.
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| Capital World Investors | +3,305,361 | $165M | ADD |
| Greenwoods Asset Management Hong Kong Ltd. | +2,604,281 | $130M | OPEN |
| Aspex Management (HK) Ltd | +2,329,290 | $116M | OPEN |
| TWO SIGMA INVESTMENTS, LP | +2,113,510 | $105M | ADD |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | +2,054,080 | $102M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Capital International Investors | −5,842,191 | $291M | TRIM |
| WELLINGTON MANAGEMENT GROUP LLP | −5,307,857 | $264M | TRIM |
| MORGAN STANLEY | −3,270,924 | $163M | TRIM |
| Fisher Asset Management, LLC | −2,431,248 | $121M | CLOSE |
| MARSHALL WACE, LLP | −1,951,888 | $97M | TRIM |
Prior quarter split-rebased · 13Fs are long, US-listed only.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| Capital World Investors | 46.6M | 42.9M | 36.0M | 37.9M | 32.8M | 36.1M | $1.8B |
| MORGAN STANLEY | 22.1M | 21.1M | 19.5M | 18.6M | 16.4M | 13.1M | $653M |
| Sanders Capital, LLC | 9.7M | 9.5M | 9.2M | 9.9M | 9.9M | 10.6M | $530M |
| Davis Selected Advisers | 3.7M | 4.9M | 4.9M | 4.9M | 5.1M | 6.6M | $326M |
| JPMORGAN CHASE & CO | 6.3M | 5.3M | 4.9M | 8.9M | 4.3M | 4.7M | $233M |
| Cantillon Capital Management LLC | 4.7M | 3.6M | 4.1M | 4.6M | 4.7M | 4.6M | $229M |
| ARGA Investment Management, LP | 4.3M | 4.3M | 6.0M | 4.6M | 3.9M | 2.9M | $142M |
| Legal & General Group Plc | 3.3M | 3.3M | 3.2M | 3.1M | 2.7M | 2.6M | $131M |
| Robeco Institutional Asset Management B.V. | 1.6M | 1.4M | 970K | 924K | 1.0M | 2.6M | $130M |
| Greenwoods Asset Management Hong Kong Ltd. | 175K | 384K | 378K | — | — | 2.6M | $130M |
| TWO SIGMA INVESTMENTS, LP | — | — | — | 8K | 377K | 2.5M | $124M |
| DIMENSIONAL FUND ADVISORS LP | 2.2M | 2.2M | 2.4M | 2.4M | 2.4M | 2.4M | $117M |
| Aspex Management (HK) Ltd | 1.9M | 1.5M | 1.5M | — | — | 2.3M | $116M |
| Temasek Holdings (Private) Ltd | — | 858K | 954K | 1.3M | 2.2M | 2.2M | $112M |
| BlackRock, Inc. | 1.5M | 1.6M | 1.4M | 1.4M | 2.4M | 2.2M | $108M |
Green = added, red = trimmed, grey = held; a dash is a quarter with no 13F on file — a gap, not an exit.
Holders only — breaks = no 13F.
Short interest has its own tab now — open SI →
SEC Form 13F · ~10,250 filers, 10y · long-only, US-listed, filed ≤45d after quarter-end.
SEC Schedule 13D/G XML · group aggregate.