Who owns Exact Sciences (EXAS)
Which tracked institutional funds hold EXAS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See EXAS company fundamentals →
Ownership as of the 2025-Q4 13F filings (latest filed 2026-05-27). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
336 tracked funds added or opened EXAS while 127 trimmed or exited it between 2025-Q3 and 2025-Q4 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
EXAS’s largest tracked holder by dollar value, VANGUARD GROUP INC, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.4% of theirs — a 0.3pp gap the other way — the median holder sizes EXAS more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in EXAS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q3 and 2025-Q4, across 711 tracked filers holding EXAS, 407 increased or opened the position and 327 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in EXAS between the 2025-Q3 and 2025-Q4 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 125
- HBK INVESTMENTS L P$777M
- Pentwater Capital Management LP$736M
- FARALLON CAPITAL MANAGEMENT LLC$650M
- Davidson Kempner Capital Management LP$430M
- Beryl Capital Management LLC$254M
- Qube Research & Technologies Ltd$205M
Full exits 62
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC$140M
- SCHRODER INVESTMENT MANAGEMENT GROUP$65M
- ARMISTICE CAPITAL, LLC$56M
- Deep Track Capital, LP$55M
- BAILLIE GIFFORD & CO$42M
- AXA Investment Managers S.A.$29M
Largest adds
- BlackRock, Inc.$959M
- VANGUARD GROUP INC$794M
- Balyasny Asset Management L.P.$369M
- NORGES BANK$302M
- UBS Group AG$270M
- MORGAN STANLEY$255M
Largest trims
- FMR LLC$903M
- Capital World Investors$785M
- CITADEL ADVISORS LLC$207M
- Holocene Advisors, LP$148M
- WELLINGTON MANAGEMENT GROUP LLP$146M
- ARK Investment Management LLC$120M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| VANGUARD GROUP INC trimmed | 17,415,415 | $1.8B | 11.2% | 2025-Q4 |
| BlackRock, Inc. added | 15,134,118 | $1.5B | 9.7% | 2025-Q4 |
| HBK INVESTMENTS L P new | 7,646,637 | $777M | 4.9% | 2025-Q4 |
| Pentwater Capital Management LP new | 7,250,000 | $736M | 4.7% | 2025-Q4 |
| FARALLON CAPITAL MANAGEMENT LLC new | 6,405,000 | $650M | 4.1% | 2025-Q4 |
| Davidson Kempner Capital Management LP new | 4,230,749 | $430M | 2.7% | 2025-Q4 |
| STATE STREET CORP trimmed | 4,183,039 | $425M | 2.7% | 2025-Q4 |
| Balyasny Asset Management L.P. added | 4,089,977 | $415M | 2.6% | 2025-Q4 |
| MILLENNIUM MANAGEMENT LLC added | 3,441,516 | $350M | 2.2% | 2025-Q4 |
| GEODE CAPITAL MANAGEMENT, LLC added | 3,331,580 | $338M | 2.1% | 2025-Q4 |
| MORGAN STANLEY added | 3,250,329 | $330M | 2.1% | 2025-Q4 |
| UBS Group AG added | 2,989,407 | $304M | 1.9% | 2025-Q4 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 2,723,434 | $277M | 1.8% | 2025-Q4 |
| Beryl Capital Management LLC new | 2,498,196 | $254M | 1.6% | 2025-Q4 |
| AQR CAPITAL MANAGEMENT LLC added | 2,229,360 | $226M | 1.4% | 2025-Q4 |
| Qube Research & Technologies Ltd new | 2,016,238 | $205M | 1.3% | 2025-Q4 |
| TUDOR INVESTMENT CORP ET AL added | 1,978,628 | $201M | 1.3% | 2025-Q4 |
| OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) new | 1,779,212 | $181M | 1.1% | 2025-Q4 |
| Glazer Capital, LLC new | 1,725,000 | $175M | 1.1% | 2025-Q4 |
| AMERIPRISE FINANCIAL INC trimmed | 1,717,958 | $174M | 1.1% | 2025-Q4 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 1,603,705 | $163M | 1.0% | 2025-Q4 |
| RENAISSANCE TECHNOLOGIES LLC added | 1,591,656 | $162M | 1.0% | 2025-Q4 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,532,235 | $156M | 1.0% | 2025-Q4 |
| Woodline Partners LP trimmed | 1,496,795 | $152M | 1.0% | 2025-Q4 |
| FIL Ltd added | 1,491,000 | $151M | 1.0% | 2025-Q4 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 1,434,993 | $146M | 0.9% | 2025-Q4 |
| JANE STREET GROUP, LLC added | 1,428,305 | $145M | 0.9% | 2025-Q4 |
| GOLDMAN SACHS GROUP INC added | 1,410,459 | $143M | 0.9% | 2025-Q4 |
| Champlain Investment Partners, LLC trimmed | 1,352,745 | $137M | 0.9% | 2025-Q4 |
| Verition Fund Management LLC added | 1,234,379 | $125M | 0.8% | 2025-Q4 |
| HighTower Advisors, LLC trimmed | 1,227,761 | $125M | 0.8% | 2025-Q4 |
| PERCEPTIVE ADVISORS LLC added | 1,200,487 | $122M | 0.8% | 2025-Q4 |
| FMR LLC trimmed | 1,154,568 | $117M | 0.7% | 2025-Q4 |
| Hudson Bay Capital Management LP new | 1,115,996 | $113M | 0.7% | 2025-Q4 |
| NORTHERN TRUST CORP trimmed | 1,091,519 | $111M | 0.7% | 2025-Q4 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. added | 1,067,342 | $108M | 0.7% | 2025-Q4 |
| KRYGER CAPITAL Ltd new | 1,009,312 | $103M | 0.6% | 2025-Q4 |
| Capital World Investors trimmed | 968,232 | $98M | 0.6% | 2025-Q4 |
| Man Group plc added | 965,093 | $98M | 0.6% | 2025-Q4 |
| BAMCO INC /NY/ trimmed | 954,547 | $97M | 0.6% | 2025-Q4 |
| TIG Advisors, LLC new | 883,843 | $90M | 0.6% | 2025-Q4 |
| LMR Partners LLP added | 881,340 | $90M | 0.6% | 2025-Q4 |
| SOROS FUND MANAGEMENT LLC added | 864,009 | $88M | 0.6% | 2025-Q4 |
| Weiss Asset Management LP new | 848,700 | $86M | 0.5% | 2025-Q4 |
| BANK OF AMERICA CORP /DE/ trimmed | 844,226 | $86M | 0.5% | 2025-Q4 |
| ALLIANCEBERNSTEIN L.P. added | 823,039 | $84M | 0.5% | 2025-Q4 |
| Nuveen, LLC trimmed | 813,252 | $83M | 0.5% | 2025-Q4 |
| MACKENZIE FINANCIAL CORP trimmed | 812,115 | $83M | 0.5% | 2025-Q4 |
| NEUBERGER BERMAN GROUP LLC added | 807,545 | $82M | 0.5% | 2025-Q4 |
| ALPINE ASSOCIATES MANAGEMENT INC. new | 805,500 | $82M | 0.5% | 2025-Q4 |
| FIRST TRUST ADVISORS LP trimmed | 802,119 | $81M | 0.5% | 2025-Q4 |
| Squarepoint Ops LLC added | 793,505 | $81M | 0.5% | 2025-Q4 |
| Westchester Capital Management, LLC new | 751,561 | $76M | 0.5% | 2025-Q4 |
| Magnetar Financial LLC added | 708,272 | $72M | 0.5% | 2025-Q4 |
| Alberta Investment Management Corp new | 688,000 | $70M | 0.4% | 2025-Q4 |
| CANADA PENSION PLAN INVESTMENT BOARD trimmed | 685,252 | $70M | 0.4% | 2025-Q4 |
| JPMORGAN CHASE & CO trimmed | 674,621 | $69M | 0.4% | 2025-Q4 |
| Absolute Gestao de Investimentos Ltda. new | 651,423 | $66M | 0.4% | 2025-Q4 |
| C WorldWide Group Holding A/S trimmed | 625,123 | $63M | 0.4% | 2025-Q4 |
| Bank of New York Mellon Corp trimmed | 620,376 | $63M | 0.4% | 2025-Q4 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 615,940 | $63M | 0.4% | 2025-Q4 |
| Quinn Opportunity Partners LLC new | 606,000 | $62M | 0.4% | 2025-Q4 |
| Rock Springs Capital Management LP added | 601,800 | $61M | 0.4% | 2025-Q4 |
| Schonfeld Strategic Advisors LLC added | 592,847 | $60M | 0.4% | 2025-Q4 |
| MARSHALL WACE, LLP added | 581,573 | $59M | 0.4% | 2025-Q4 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 573,185 | $58M | 0.4% | 2025-Q4 |
| Spyglass Capital Management LLC trimmed | 539,886 | $55M | 0.3% | 2025-Q4 |
| Polar Asset Management Partners Inc. added | 525,000 | $53M | 0.3% | 2025-Q4 |
| D. E. Shaw & Co., Inc. added | 502,142 | $51M | 0.3% | 2025-Q4 |
| DEUTSCHE BANK AG\ trimmed | 502,117 | $51M | 0.3% | 2025-Q4 |
| Laurion Capital Management LP added | 499,532 | $51M | 0.3% | 2025-Q4 |
| NEXPOINT ASSET MANAGEMENT, L.P. new | 485,990 | $49M | 0.3% | 2025-Q4 |
| Twin Securities, Inc. new | 483,589 | $49M | 0.3% | 2025-Q4 |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC new | 480,733 | $49M | 0.3% | 2025-Q4 |
| Assenagon Asset Management S.A. added | 471,134 | $48M | 0.3% | 2025-Q4 |
| PEREGRINE CAPITAL MANAGEMENT LLC trimmed | 427,748 | $43M | 0.3% | 2025-Q4 |
| SG Americas Securities, LLC added | 414,874 | $42M | 0.3% | 2025-Q4 |
| Capula Management Ltd new | 413,170 | $42M | 0.3% | 2025-Q4 |
| PICTON MAHONEY ASSET MANAGEMENT new | 400,000 | $41M | 0.3% | 2025-Q4 |
| Melqart Asset Management (UK) Ltd new | 376,840 | $38M | 0.2% | 2025-Q4 |
| Erste Asset Management GmbH trimmed | 375,000 | $38M | 0.2% | 2025-Q4 |
| Swiss National Bank added | 373,180 | $38M | 0.2% | 2025-Q4 |
| Fort Baker Capital Management LP new | 357,000 | $36M | 0.2% | 2025-Q4 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. added | 353,581 | $36M | 0.2% | 2025-Q4 |
| ORBIMED ADVISORS LLC trimmed | 351,716 | $36M | 0.2% | 2025-Q4 |
| WATER ISLAND CAPITAL LLC new | 350,009 | $36M | 0.2% | 2025-Q4 |
| Taconic Capital Advisors LP new | 347,864 | $35M | 0.2% | 2025-Q4 |
| Decagon Asset Management LLP new | 347,400 | $35M | 0.2% | 2025-Q4 |
| BNP PARIBAS FINANCIAL MARKETS added | 345,249 | $35M | 0.2% | 2025-Q4 |
| California Public Employees Retirement System added | 337,684 | $34M | 0.2% | 2025-Q4 |
| CAXTON ASSOCIATES LLP added | 331,682 | $34M | 0.2% | 2025-Q4 |
| Cinctive Capital Management LP added | 330,000 | $34M | 0.2% | 2025-Q4 |
| Allianz Asset Management GmbH added | 326,305 | $33M | 0.2% | 2025-Q4 |
| Slotnik Capital, LLC new | 320,000 | $32M | 0.2% | 2025-Q4 |
| Stephens Investment Management Group LLC trimmed | 314,906 | $32M | 0.2% | 2025-Q4 |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added | 2,555,051 | $140M | 0.9% | 2025-Q3 stale |
| SCHRODER INVESTMENT MANAGEMENT GROUP added | 1,210,865 | $65M | 0.4% | 2025-Q3 stale |
| ARMISTICE CAPITAL, LLC added | 1,030,465 | $56M | 0.4% | 2025-Q3 stale |
| Deep Track Capital, LP new | 1,000,000 | $55M | 0.3% | 2025-Q3 stale |
| BAILLIE GIFFORD & CO trimmed | 763,356 | $42M | 0.3% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.