| 0.08% |
| 4 | STATE STREET CORP | 3.2M | $1.82B | +9.8% | 5.262% | 0.03% |
| 5 | BANK OF AMERICA CORP /DE/ | 2.4M | $1.41B | +2.0% | 4.075% | 0.09% |
| 6 | FMR LLC | 2.2M | $1.26B | -15.9% | 3.651% | 0.05% |
| 7 | PRINCIPAL FINANCIAL GROUP INC | 2.1M | $1.22B | +1.1% | 3.525% | 0.60% |
| 8 | Aristotle Capital Management, LLC | 1.8M | $1.06B | -6.3% | 3.050% | 2.22% |
| 9 | VICTORY CAPITAL MANAGEMENT INC | 1.8M | $1.03B | +8.9% | 2.970% | 0.58% |
| 10 | GEODE CAPITAL MANAGEMENT, LLC | 1.6M | $919.9M | +0.8% | 2.667% | 0.05% |
| 11 | JPMORGAN CHASE & CO | 1.5M | $852.6M | -21.1% | 2.443% | 0.05% |
| 12 | TCI Fund Management Ltd | 1.3M | $758.4M | — | 2.190% | 1.44% |
| 13 | GOLDMAN SACHS GROUP INC | 1.2M | $670.9M | +31.3% | 1.937% | 0.06% |
| 14 | MORGAN STANLEY | 1.0M | $583.6M | -24.6% | 1.685% | 0.03% |
| 15 | Select Equity Group, L.P. | 1.0M | $583.2M | -2.1% | 1.684% | 2.88% |
| 16 | BAILLIE GIFFORD & CO | 992K | $572.0M | -8.8% | 1.652% | 0.52% |
| 17 | GARDNER RUSSO & QUINN LLC | 705K | $406.8M | -1.4% | 1.175% | 4.56% |
| 18 | KING LUTHER CAPITAL MANAGEMENT CORP | 653K | $376.7M | -2.0% | 1.088% | 1.54% |
| 19 | Invesco Ltd. | 650K | $374.6M | -6.0% | 1.082% | 0.03% |
| 20 | ALKEON CAPITAL MANAGEMENT LLC | 627K | $361.8M | -16.1% | 1.045% | 0.49% |
| 21 | DIMENSIONAL FUND ADVISORS LP | 586K | $338.1M | +7.3% | 0.976% | 0.06% |
| 22 | NORTHERN TRUST CORP | 570K | $328.9M | -2.8% | 0.950% | 0.04% |
| 23 | NORGES BANK | 557K | $321.3M | — | 0.928% | 0.03% |
| 24 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 493K | $284.0M | +7.0% | 0.820% | 0.04% |
| 25 | MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 486K | $280.3M | +8.5% | 0.809% | 0.33% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in MLM — a direct measure of their conviction.
Institutions that fully closed their MLM position in Q2 2026
| 98.98% |
| +1.56 pp |
| $26.83B |
| 5.1% |
| Q4 2024 | 962 | +5.1% | 97.42% | 0.15 pp | $28.28B | 2.7% |
| Q3 2024 | 915 | — | 97.57% | — | $29.08B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
MLM institutional ownership rose by 1.61 percentage points quarter-over-quarter, with a net change of +6 holders.
The top 10 institutions account for 47.6% of all reported 13F value in MLM, and the top 25 account for 69.3%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.