Who owns VLN
Which tracked institutional funds hold VLN, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See VLN company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-15). 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
The tracked-fund tape on VLN is one-sided between 2025-Q4 and 2026-Q1: 1 added or opened and 10 trimmed or exited — on balance reducing.
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
VLN’s largest tracked holder by dollar value, Value Base Ltd., sizes it at 19.1% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 19.1pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in VLN 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-Q4 and 2026-Q1, across 47 tracked filers holding VLN, 25 increased or opened the position and 22 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
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 VLN between the 2025-Q4 and 2026-Q1 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.
Largest adds
- MILLENNIUM MANAGEMENT LLC$404K
Largest trims
- Value Base Ltd.$6M
- Squarepoint Ops LLC$639K
- Clal Insurance Enterprises Holdings Ltd$575K
- MARSHALL WACE, LLP$476K
- ARK Investment Management LLC$469K
- AMERIPRISE FINANCIAL INC$410K
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 |
|---|---|---|---|---|
| Value Base Ltd. added | 21,480,159 | $24M | 48.3% | 2026-Q1 |
| Clal Insurance Enterprises Holdings Ltd | 1,984,537 | $2M | 4.5% | 2026-Q1 |
| MARSHALL WACE, LLP added | 1,828,381 | $2M | 4.1% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 1,496,042 | $2M | 3.4% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 1,311,700 | $1M | 3.0% | 2026-Q1 |
| MEITAV INVESTMENT HOUSE LTD | 1,074,243 | $1M | 2.4% | 2026-Q1 |
| ARK Investment Management LLC trimmed | 1,048,488 | $1M | 2.4% | 2026-Q1 |
| HERALD INVESTMENT MANAGEMENT Ltd | 950,000 | $1M | 2.1% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 937,306 | $1M | 2.1% | 2026-Q1 |
| Phoenix Financial Ltd. | 336,785 | $381K | 0.8% | 2026-Q1 |
| Penn Capital Management Company, LLC new | 270,802 | $306K | 0.6% | 2026-Q1 |
| NORTHERN TRUST CORP trimmed | 224,551 | $254K | 0.5% | 2026-Q1 |
| MORGAN STANLEY trimmed | 202,377 | $229K | 0.5% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP trimmed | 183,720 | $208K | 0.4% | 2026-Q1 |
| Migdal Insurance & Financial Holdings Ltd. | 179,616 | $203K | 0.4% | 2026-Q1 |
| &PARTNERS trimmed | 133,760 | $151K | 0.3% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 133,760 | $151K | 0.3% | 2026-Q1 |
| Man Group plc added | 116,143 | $131K | 0.3% | 2026-Q1 |
| OPPENHEIMER & CO INC trimmed | 76,982 | $87K | 0.2% | 2026-Q1 |
| XTX Topco Ltd added | 75,091 | $85K | 0.2% | 2026-Q1 |
| Squarepoint Ops LLC trimmed | 68,629 | $78K | 0.2% | 2026-Q1 |
| UBS Group AG added | 67,922 | $77K | 0.2% | 2026-Q1 |
| IMC-Chicago, LLC new | 63,967 | $72K | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 62,553 | $71K | 0.1% | 2026-Q1 |
| St. Louis Trust Co | 58,774 | $66K | 0.1% | 2026-Q1 |
| FIRST MANHATTAN CO. LLC. | 43,458 | $49K | 0.1% | 2026-Q1 |
| EFG International AG new | 40,000 | $45K | 0.1% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 36,867 | $42K | 0.1% | 2026-Q1 |
| Vontobel Holding Ltd. new | 33,301 | $38K | 0.1% | 2026-Q1 |
| TWO SIGMA SECURITIES, LLC added | 30,643 | $35K | 0.1% | 2026-Q1 |
| Centiva Capital, LP added | 21,781 | $25K | 0.0% | 2026-Q1 |
| Qube Research & Technologies Ltd trimmed | 17,165 | $19K | 0.0% | 2026-Q1 |
| Founders Capital Management new | 14,000 | $16K | 0.0% | 2026-Q1 |
| Engineers Gate Manager LP trimmed | 13,758 | $16K | 0.0% | 2026-Q1 |
| Colter Lewis Investment Partners LLC | 12,593 | $14K | 0.0% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 11,825 | $13K | 0.0% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 11,205 | $13K | 0.0% | 2026-Q1 |
| StoneX Group Inc. new | 10,892 | $12K | 0.0% | 2026-Q1 |
| BlackRock, Inc. | 7,576 | $9K | 0.0% | 2026-Q1 |
| GROUP ONE TRADING LLC added | 5,184 | $6K | 0.0% | 2026-Q1 |
| SIMPLEX TRADING, LLC trimmed | 4,904 | $6K | 0.0% | 2026-Q1 |
| OSAIC HOLDINGS, INC. | 2,345 | $3K | 0.0% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 1,163 | $1K | 0.0% | 2026-Q1 |
| SBI Securities Co., Ltd. added | 725 | $819 | 0.0% | 2026-Q1 |
| Tower Research Capital LLC (TRC) added | 239 | $270 | 0.0% | 2026-Q1 |
| WOLVERINE ASSET MANAGEMENT LLC trimmed | 33 | $37 | 0.0% | 2026-Q1 |
| Caitong International Asset Management Co., Ltd new | 4 | $5 | 0.0% | 2026-Q1 |
| IGP Investments (G.P.L.P), LP added | 3,489,790 | $6M | 12.4% | 2025-Q3 stale |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 352,964 | $720K | 1.4% | 2025-Q1 stale |
| Sphera Management Technology Funds Ltd | 335,339 | $600K | 1.2% | 2025-Q3 stale |
| Walleye Capital LLC trimmed | 198,269 | $521K | 1.0% | 2025-Q2 stale |
| CREDIT AGRICOLE S A new | 300,000 | $426K | 0.8% | 2025-Q4 stale |
| ACADIAN ASSET MANAGEMENT LLC trimmed | 302,429 | $423K | 0.8% | 2025-Q4 stale |
| Marex Group plc trimmed | 203,162 | $414K | 0.8% | 2025-Q1 stale |
| TWO SIGMA ADVISERS, LP added | 203,500 | $289K | 0.6% | 2025-Q4 stale |
| Yelin Lapidot Holdings Management Ltd. trimmed | 110,142 | $225K | 0.4% | 2025-Q1 stale |
| CITADEL ADVISORS LLC trimmed | 125,667 | $178K | 0.4% | 2025-Q4 stale |
| Graham Capital Management, L.P. added | 98,084 | $139K | 0.3% | 2025-Q4 stale |
| Verition Fund Management LLC trimmed | 42,269 | $111K | 0.2% | 2025-Q2 stale |
| IvyRock Asset Management (HK) Ltd | 40,000 | $105K | 0.2% | 2025-Q2 stale |
| BARCLAYS PLC | 46,180 | $102K | 0.2% | 2025-Q3 stale |
| GSA CAPITAL PARTNERS LLP added | 44,499 | $80K | 0.2% | 2025-Q3 stale |
| Cubist Systematic Strategies, LLC added | 36,398 | $65K | 0.1% | 2025-Q3 stale |
| HRT FINANCIAL LP added | 37,392 | $53K | 0.1% | 2025-Q4 stale |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | 17,134 | $45K | 0.1% | 2025-Q2 stale |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC new | 20,607 | $42K | 0.1% | 2025-Q1 stale |
| LPL Financial LLC | 16,709 | $30K | 0.1% | 2025-Q3 stale |
| Federation des caisses Desjardins du Quebec added | 13,781 | $28K | 0.1% | 2025-Q1 stale |
| State of Tennessee, Department of Treasury | 13,519 | $28K | 0.1% | 2025-Q1 stale |
| Chicago Capital, LLC | 10,000 | $26K | 0.1% | 2025-Q2 stale |
| WOLVERINE TRADING, LLC trimmed | 13,777 | $25K | 0.1% | 2025-Q3 stale |
| SCS Capital Management LLC new | 11,492 | $23K | 0.0% | 2025-Q1 stale |
| Creative Planning trimmed | 11,864 | $21K | 0.0% | 2025-Q3 stale |
| GILDER GAGNON HOWE & CO LLC | 13,724 | $19K | 0.0% | 2025-Q4 stale |
| State of New Jersey Common Pension Fund D | 10,418 | $15K | 0.0% | 2025-Q4 stale |
| BANK OF AMERICA CORP /DE/ | 5,612 | $8K | 0.0% | 2025-Q4 stale |
| Altshuler Shaham Ltd trimmed | 1,800 | $3K | 0.0% | 2025-Q4 stale |
| Caldwell Trust Co new | 500 | $895 | 0.0% | 2025-Q3 stale |
| Magma Venture Partners General Partner Ltd. | 14 | $25 | 0.0% | 2025-Q3 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 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.