Liberty Media Corp. Class AFWONA

13F holders, Q4 2025 (December 31)
303holders +14
35new positions
28sold out
7famous investors
$89.38avg. 13F price*

At the end of Q4 2025, 303 institutions reported holding Liberty Media Corp. Class A (FWONA) in their 13F filings, up 14 from Q3 2025. 35 opened new positions and 28 sold out. The largest holders were Linonia Partnership LP ($189.3M), Vanguard Group Inc. ($188.8M) and Principal Financial Group Inc. ($118.6M). 7 famous investors held it, including Mario Gabelli (0.1% of GAMCO Investors's portfolio), Ron Baron (0.1% of Baron Capital (BAMCO)'s portfolio) and Jim Simons / Peter Brown (0.0% of Renaissance Technologies's portfolio).

Company
Liberty Media Corp. Class A
CUSIP
531229771
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300400 Q1 2024: 225Q1 2024Q2 2024: 236Q2 2024Q3 2024: 239Q3 2024Q4 2024: 261Q4 2024Q1 2025: 270Q1 2025Q2 2025: 289Q2 2025Q3 2025: 289Q3 2025Q4 2025: 303Q4 2025Q1 2026: 288Q1 2026Q2 2026: 299Q2 2026

Total Exit/New Position Q3 2025 → Q4 2025

InstitutionsTotal Value
New Positions35$25.0M
Exits28$16.7M

All 13F filers, Q3 2025 → Q4 2025: 1,684,765 shares bought and 848,124 shares sold, net +836,641 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 303 holders

Linonia Partnership LP 4.28% No change 2,118,059 $189.3M
Vanguard Group Inc. 0.00% Add +0.1% 2,112,263 $188.8M
Principal Financial Group Inc. 0.06% Add +34.1% 1,327,209 $118.6M
State of Wisconsin Investment Board 0.26% Reduce -6.1% 1,301,839 $116.4M
Ashe Capital Management, LP 10.26% No change 1,184,179 $105.8M
BlackRock, Inc. 0.00% Add +1.3% 1,148,302 $102.6M
Norges Bank 0.01% — 1,011,778 $90.4M
Sculptor Capital LP 1.84% Add +33.3% 1,000,000 $89.4M
Janus Henderson Group PLC 0.04% Add +2.1% 995,541 $89.0M
Darsana Capital Partners LP 1.45% Add +27.8% 812,750 $72.6M
Ruane, Cunniff & Goldfarb L.P. 1.03% Reduce -0.5% 738,880 $66.0M
Bank of America Corp. 0.00% Add +29.7% 489,130 $43.7M
Madison Asset Management, LLC 0.47% No change 454,863 $40.7M
Geode Capital Management, LLC 0.00% Reduce -2.5% 445,169 $39.8M
FMR LLC 0.00% Add +1.6% 403,342 $36.1M
State Street Corp. 0.00% Reduce -0.5% 348,835 $31.2M
Baron Capital (BAMCO) 0.08% Reduce -1.9% 311,588 $27.8M
Hawk Ridge Capital Management LP 1.24% Add +90.9% 299,800 $26.8M
Renaissance Technologies 0.04% Reduce -12.1% 280,522 $25.1M
Highbridge Capital Management LLC 1.61% Reduce -30.0% 227,221 $20.3M
Raymond James Financial Inc. 0.01% Add +24.0% 217,505 $19.4M
KKM Financial LLC 3.29% New 207,502 $18.5M
Morgan Stanley 0.00% Add +0.5% 190,949 $17.1M
Elgethun Capital Management 2.28% Add +1.9% 147,490 $13.2M
Manufacturers Life Insurance Company, The 0.01% Reduce -1.1% 145,896 $13.0M
Clearbridge Investments, LLC 0.01% Reduce -2.0% 139,342 $12.5M
UBS Group AG 0.00% Add +11.4% 130,375 $11.7M
Qube Research & Technologies Ltd 0.02% Reduce -13.3% 130,017 $11.6M
Gabelli Funds LLC 0.08% Add +16.6% 129,750 $11.6M
Pinnacle Associates Ltd. 0.13% Reduce -0.4% 116,496 $10.4M
Cooper Investors PTY Ltd. 3.36% No change 112,982 $10.1M
Wells Fargo & Company 0.00% Add +37.1% 109,219 $9.8M
GAMCO Investors 0.09% Add +1.5% 108,941 $9.7M
Northern Trust Corp. 0.00% Reduce -4.7% 107,919 $9.6M
Blacksheep Fund Management Ltd 3.78% No change 104,010 $9.3M
Goldman Sachs Group Inc. 0.00% Reduce -10.2% 77,834 $7.0M
Amundi 0.00% Add +420.4% 71,214 $6.4M
Bislett Management, LLC 4.75% Reduce -12.5% 70,000 $6.3M
S&co Inc. 0.37% Reduce -0.3% 67,239 $6.0M
D. E. Shaw & Co. 0.00% Add +51.9% 65,762 $5.9M
Lord, Abbett & Co. LLC 0.02% Add +1.9% 61,685 $5.5M
Millennium Management 0.00% Add +16.5% 60,560 $5.4M
Envestnet Asset Management Inc. 0.00% Add +24.1% 54,100 $4.8M
Deltroit Asset Management (UK) LLP 0.76% — 51,571 $4.6M
Symmetry Investments LP 0.85% Add +24.5% 50,890 $4.5M
Quantinno Capital Management LP 0.01% Add +24.0% 49,319 $4.4M
Landscape Capital Management, L.L.C. 0.29% Reduce -35.6% 48,319 $4.3M
Bank of New York Mellon Corp 0.00% Add +1.8% 47,500 $4.2M
Deutsche Bank AG 0.00% Reduce -0.3% 46,333 $4.1M
CI Investments Inc. 0.02% Add +0.0% 45,043 $4.0M
Nuveen, LLC 0.00% Add +4.1% 44,491 $4.0M
Creative Planning 0.00% Add +7.0% 44,078 $3.9M
Legal & General Group Plc 0.00% Reduce -14.3% 43,098 $3.9M
Canada Pension Plan Investment Board 0.00% Add +52.2% 41,620 $3.7M
Jane Street Group, LLC 0.00% Add +46.8% 38,154 $3.4M
Horizon Kinetics Asset Management LLC 0.04% Reduce -4.6% 36,018 $3.2M
Roundview Capital LLC 0.19% Reduce -0.6% 33,983 $3.0M
Kornitzer Capital Management Inc. 0.06% No change 30,529 $2.7M
National Philanthropic Trust 0.03% No change 30,435 $2.7M
T. Rowe Price Associates Inc. 0.00% Add +3.2% 29,232 $2.6M
State Board of Administration of Florida Retirement System 0.00% Reduce -16.9% 28,793 $2.6M
First Manhattan Co. Llc. 0.01% Add +803.2% 28,153 $2.5M
Invesco Ltd. 0.00% Add +2.7% 25,484 $2.3M
Marshall Wace, LLP 0.00% Add +199.3% 24,089 $2.2M
Balyasny Asset Management L.P. 0.00% Reduce -11.6% 23,920 $2.1M
Rhumbline Advisers 0.00% Reduce -3.1% 22,701 $2.0M
Janney Montgomery Scott LLC 0.00% Add +1.4% 22,294 $2.0M
First Foundation Advisors 0.07% No change 21,748 $1.9M
ArrowMark Colorado Holdings LLC 0.04% Reduce -5.1% 21,669 $1.9M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% Add +2.7% 20,918 $1.9M
Royal Bank of Canada 0.00% Add +8.0% 19,616 $1.8M
JPMorgan Chase & Co. 0.00% Reduce -41.2% 17,747 $1.6M
Wittenberg Investment Management, Inc. 0.57% Reduce -0.3% 16,403 $1.5M
Citigroup Inc. 0.00% Reduce -8.6% 16,268 $1.5M
Board of the Pension Protection Fund 1.38% Add +24.6% 16,200 $1.4M
Natixis Advisors, LLC 0.00% Add +51.3% 15,165 $1.4M
Dark Forest Capital Management LP 0.06% No change 15,000 $1.3M
Voloridge Investment Management, LLC 0.00% Reduce -13.5% 14,325 $1.3M
LPL Financial LLC 0.00% Reduce -3.7% 13,829 $1.2M
Virtu Financial LLC 0.05% Reduce -30.2% 13,681 $1.2M
Pecaut & Co. 0.35% No change 12,108 $1.1M
Mangrove Partners Im, LLC 0.08% New 11,243 $1.0M
New York State Common Retirement Fund 0.00% No change 11,092 $991K
Sanctuary Advisors, LLC 0.01% Add +25.9% 10,701 $956K
Wealth Enhancement Advisory Services, LLC 0.00% Add +1.1% 10,614 $937K
Soros Fund Management 0.02% New 10,200 $912K
BNP Paribas Financial Markets 0.00% Reduce -89.2% 10,183 $910K
HSBC Holdings PLC 0.00% Add +51.9% 9,992 $893K
Barclays PLC 0.00% Add +1.1% 9,636 $861K
Treasurer of the State of North Carolina 0.00% Reduce -6.8% 9,504 $849K
AlphaQuest LLC 0.05% Reduce -47.3% 9,337 $835K
Sei Investments Co. 0.00% Add +23.1% 9,171 $820K
Nisa Investment Advisors, LLC 0.00% No change 9,023 $806K
Neuberger Berman Group LLC 0.00% Reduce -22.9% 8,447 $755K
Caxton Associates LLP 0.01% Add +140.8% 8,437 $754K
Boyar Asset Management Inc. 0.47% New 8,263 $739K
Royal London Asset Management Ltd. 0.00% Add +18.1% 8,183 $731K
Graham Capital Management, L.P. 0.04% Add +19.8% 7,963 $712K
Alliancebernstein L.P. 0.00% Add +1.7% 7,918 $708K
AQR Capital Management 0.00% Add +3.4% 7,805 $696K
Susquehanna International Group, LLP 0.00% Reduce -94.5% 7,609 $680K
Mercer Global Advisors Inc. 0.00% Add +8.1% 7,203 $644K
Sumitomo Mitsui Trust Group, Inc. 0.00% No change 6,955 $622K
Public Employees Retirement System of Ohio 0.00% Reduce -3.7% 6,898 $617K
Aristides Capital LLC 0.21% Add +4.1% 6,838 $611K
Schroder Investment Management Group 0.00% Reduce -13.9% 6,508 $581K
Clearstead Advisors, LLC 0.01% Add +1.2% 6,423 $574K
Frank, Rimerman Advisors LLC 0.04% Add +72.5% 6,292 $562K
Victory Capital Management Inc. 0.00% Add +2.3% 6,188 $553K
Oak Family Advisors, LLC 0.17% No change 6,175 $552K
Brown Advisory Inc. 0.00% Reduce -19.1% 6,139 $549K
Stifel Financial Corp. 0.00% Add +24.4% 6,020 $538K
Vise Technologies, Inc. 0.01% Add +42.9% 5,919 $529K
Russell Investments Group, Ltd. 0.00% Add +21.7% 5,745 $513K
Mirabella Financial Services LLP 0.05% New 5,712 $511K
Focus Partners Wealth 0.00% New 5,587 $499K
Rockefeller Capital Management L.P. 0.00% Add +4.7% 5,476 $489K
HRT Financial LP 0.00% Reduce -83.5% 5,158 $461K
Beck Mack & Oliver LLC 0.01% No change 5,109 $457K
Sequoia Financial Advisors, LLC 0.00% Add +12.5% 4,765 $426K
Oak Thistle LLC 0.06% New 4,723 $422K
Manchester Capital Management LLC 0.06% Reduce -11.1% 4,624 $413K
Third View Private Wealth, LLC 0.06% — 4,599 $411K
Callan Family Office, LLC 0.01% Add +48.5% 4,595 $411K
Engineers Gate Manager LP 0.00% New 4,584 $410K
Hosking Partners LLP 0.01% No change 4,551 $407K
Aire Advisors, LLC 0.07% No change 4,524 $404K
Gallacher Capital Management LLC 0.15% Add +7.1% 4,308 $385K
Evergreen Capital Management LLC 0.01% Reduce -0.1% 4,015 $359K
PNC Financial Services Group, Inc. 0.00% Add +2.1% 3,923 $351K
Occudo Quantitative Strategies LP 0.02% Reduce -62.0% 3,870 $346K
Quadrant Capital Group LLC 0.01% Add +0.2% 3,829 $342K
Allianz Asset Management GmbH 0.00% Reduce -1.6% 3,828 $342K
Police & Firemen's Retirement System of New Jersey 0.00% No change 3,708 $331K
US Bancorp \de 0.00% Reduce -3.8% 3,619 $323K
HighTower Advisors, LLC 0.00% New 3,485 $311K
Cetera Investment Advisers 0.00% Add +13.4% 3,450 $308K
&partners 0.00% Add +44.5% 3,345 $299K
M&T Bank Corp 0.00% Reduce -3.9% 3,333 $298K
QRG Capital Management, Inc. 0.00% Add +11.1% 3,313 $296K
Eurizon Capital SGR S.p.A. 0.00% — 3,266 $292K
SG Americas Securities, LLC 0.00% Reduce -53.8% 3,044 $272K
Lountzis Asset Management, LLC 0.09% No change 2,866 $256K
Paradice Investment Management LLC 0.05% Reduce -8.1% 2,830 $253K
DV Trading LLC 0.02% — 2,810 $251K
Pathstone Holdings, LLC 0.00% Reduce -29.5% 2,808 $251K
Daiwa Securities Group Inc. 0.00% Add +4.5% 2,718 $242K
BayBridge Capital Group, LLC 0.15% Reduce -0.5% 2,703 $242K
Signaturefd, LLC 0.00% Add +2.2% 2,665 $238K
Savvy Advisors, Inc. 0.01% New 2,625 $235K
Corient Private Wealth LP 0.00% Add +5.0% 2,579 $231K
Two Sigma Securities, LLC 0.03% New 2,525 $226K
First Trust Advisors LP 0.00% New 2,523 $226K
Aspen Grove Capital, LLC 0.04% No change 2,500 $223K
Gilbert & Cook, Inc. 0.03% New 2,401 $215K
Cambridge Investment Research Advisors, Inc. 0.00% New 2,345 $210K
Moran Wealth Management, LLC 0.01% Reduce -26.8% 2,311 $207K
American Century Companies Inc. 0.00% Reduce -29.9% 2,246 $201K
O'shaughnessy Asset Management, LLC 0.00% Add +1.5% 2,170 $194K
Comerica Bank 0.00% Add +3.5% 2,164 $193K
Avanza Fonder AB 0.00% No change 1,729 $155K
JTC Employer Solutions Trustee Ltd 0.01% No change 1,663 $148K
Flagship Harbor Advisors, LLC 0.01% New 1,650 $147K
California State Teachers Retirement System 0.00% Reduce -1.5% 1,410 $126K
Amalgamated Bank 0.00% Add +0.9% 1,371 $123K
Franklin Resources Inc. 0.00% Reduce -2.3% 1,244 $111K
Quent Capital, LLC 0.01% Reduce -2.6% 1,241 $111K
Parallel Advisors, LLC 0.00% Add +2.9% 1,226 $110K
Cross Staff Investments Inc 0.06% New 1,225 $109K
Bank of Montreal 0.00% Reduce -7.6% 1,182 $106K
Msrh, LLC 0.11% — 1,129 $101K
Jones Financial Companies LLLP 0.00% Add +18.1% 1,057 $94K
GAMMA Investing LLC 0.00% Add +11.9% 1,003 $90K
Kestra Advisory Services, LLC 0.00% New 1,003 $90K
Sterling Capital Management LLC 0.00% Reduce -0.3% 976 $87K
Glenmede Trust Co. NA 0.00% — 936 $84K
CIBC Private Wealth Group LLC 0.00% Reduce -41.4% 909 $81K
State of Wyoming 0.01% New 875 $78K
Osaic Holdings, Inc. 0.00% Reduce -7.3% 867 $77K
UMB Bank, n.a. 0.00% No change 864 $77K
Brown Brothers Harriman & Co. 0.00% No change 846 $76K
Bessemer Group Inc. 0.00% Add +23.9% 841 $75K
Huntington National Bank 0.00% Add +58.3% 793 $71K
MassMutual Private Wealth & Trust, FSB 0.00% Reduce -10.3% 714 $64K
MetLife Investment Management, LLC 0.00% Reduce -0.1% 710 $63K
Wahed Invest LLC 0.01% Reduce -3.7% 597 $53K
STRS Ohio 0.00% Add +0.2% 544 $49K
TD Private Client Wealth LLC 0.00% Add +64.7% 532 $48K
Ancora Advisors LLC 0.00% No change 530 $47K
Cwm, LLC 0.00% Add +1.0% 521 $47K
MAI Capital Management 0.00% No change 510 $46K
Global Retirement Partners, LLC 0.00% Add +311.8% 490 $44K
National Bank of Canada 0.00% Add +70.1% 483 $43K
Assetmark, Inc. 0.00% Add +3.4% 462 $41K
Steward Partners Investment Advisory, LLC 0.00% Add +6.0% 457 $41K
Finley Financial, LLC 0.02% No change 451 $40K
Central Pacific Bank - Trust Division 0.01% No change 450 $40K
Allworth Financial LP 0.00% Reduce -4.4% 434 $39K
Northwestern Mutual Wealth Management Co. 0.00% Add +14.8% 404 $36K
Montag A & Associates Inc. 0.00% No change 378 $34K
Legacies Wealth LLC 0.02% No change 367 $33K
Western Pacific Wealth Management, LP 0.03% No change 350 $31K
Rosenberg Matthew Hamilton 0.01% Add +0.9% 333 $30K
FNY Investment Advisers, LLC 0.01% Reduce -40.7% 320 $28K
Colonial Trust Co / SC 0.00% No change 300 $27K
Anchor Investment Management, LLC 0.00% No change 300 $27K
TD Waterhouse Canada Inc. 0.00% Add +100.0% 300 $27K
Versant Capital Management, Inc 0.00% Add +22.7% 297 $27K
Tower Research Capital LLC (TRC) 0.00% Reduce -55.2% 285 $25K
Storebrand Asset Management As 0.00% No change 267 $24K
SBI Securities Co., Ltd. 0.00% Reduce -9.0% 242 $22K
Blair William & Co. 0.00% Add +28.9% 232 $21K
Quarry LP 0.00% New 229 $20K
Arax Advisory Partners 0.00% New 228 $20K
Allspring Global Investments Holdings, LLC 0.00% Reduce -99.5% 189 $17K
Bartlett & Co. Wealth Management LLC 0.00% No change 183 $16K
Loring Wolcott & Coolidge Fiduciary Advisors LLP 0.00% No change 166 $14K
NewEdge Advisors, LLC 0.00% No change 150 $13K
GHP Investment Advisors, Inc. 0.00% No change 147 $13K
Delta Asset Management LLC 0.00% No change 144 $13K
Federation des caisses Desjardins du Quebec 0.00% No change 144 $13K
Farther Finance Advisors, LLC 0.00% Add +111.5% 129 $12K
IFP Advisors, Inc 0.00% Add +0.8% 128 $11K
Harbour Investments, Inc. 0.00% Add +39.8% 123 $11K
Whittier Trust Co. 0.00% No change 120 $11K
Los Angeles Capital Management LLC 0.00% New 111 $10K
SageView Advisory Group, LLC 0.00% New 110 $10K
Simplex Trading, LLC 0.00% Add +29.5% 101 $9K
Parkside Financial Bank & Trust 0.00% Add +65.5% 96 $9K
Sachetta, LLC 0.00% No change 85 $8K
Private Trust Co. NA 0.00% No change 83 $7K
Strategic Wealth Partners, Ltd. 0.00% New 78 $7K
Johnson Financial Group, Inc. 0.00% Reduce -6.5% 72 $6K
Basecamp Wealth Advisors LLC 0.00% — 69 $6K
CVA Family Office, LLC 0.00% No change 65 $6K
Root Financial Partners, LLC 0.00% Add +1.7% 60 $5K
Mirae Asset Global Investments Co., Ltd. 0.00% Reduce -1.7% 59 $5K
Rossby Financial, LCC 0.00% Add +2400.0% 50 $4K
Pinnacle Wealth Planning Services, Inc. 0.00% New 43 $4K
Atlantic Union Bankshares Corp 0.00% No change 38 $3K
MidFirst Bank 0.00% — 34 $3K
TrinityBridge Ltd 0.00% New 30 $3K
Smartleaf Asset Management LLC 0.00% Add +6.5% 33 $3K
Asset Dedication, LLC 0.00% No change 32 $3K
Princeton Global Asset Management LLC 0.00% No change 32 $3K
Hurley Capital, LLC 0.00% No change 28 $3K
Activest Wealth Management 0.00% Add +4.0% 26 $2K
Fortis Group Advisors, LLC 0.00% No change 25 $2K
JFS Wealth Advisors, LLC 0.00% Add +35.3% 23 $2K
EverSource Wealth Advisors, LLC 0.00% Reduce -87.3% 23 $2K
Covestor Ltd 0.00% Add +50.0% 27 $2K
Winthrop Capital Management, LLC 0.00% New 17 $2K
Transamerica Financial Advisors, LLC 0.00% Add +633.3% 22 $2K
Whittier Trust Co. of Nevada Inc. 0.00% Reduce -36.7% 19 $2K
Keating Financial Advisory Services, Inc. 0.00% — 18 $2K
Steigerwald, Gordon & Koch Inc. 0.00% No change 17 $2K
Kings Path Partners LLC 0.00% No change 14 $1K
MV Capital Management, Inc. 0.00% No change 13 $1K
Retirement Wealth Solutions LLC 0.00% Add +50.0% 12 $1K
Private Wealth Management Group, LLC 0.00% No change 12 $1K
TD Capital Management LLC 0.00% No change 12 $1K
LRI Investments, LLC 0.00% No change 12 $1K
Bellevue Asset Management, LLC 0.00% New 12 $1K
Hazlett, Burt & Watson, Inc. 0.00% No change 7 $1K
T. Rowe Price Investment Management, Inc. 0.00% No change 11 $1K
First Horizon Corp. 0.00% No change 11 $983
Signature Equity Partners, LLC 0.00% — 10 $894
Blue Bell Private Wealth Management, LLC 0.00% No change 10 $894
Center for Financial Planning, Inc. 0.00% No change 10 $894
Trust Co. of Toledo NA 0.00% No change 8 $715
DiNuzzo Private Wealth, Inc. 0.00% No change 6 $537
Elyxium Wealth, LLC 0.00% New 6 $536
Physician Wealth Advisors, Inc. 0.00% Reduce -28.6% 5 $447
Rothschild Investment LLC 0.00% Add +150.0% 5 $447
Trust Co 0.00% New 5 $447
CoreCap Advisors, LLC 0.00% No change 5 $447
Ameriflex Group, Inc. 0.00% Reduce -50.0% 4 $358
Optima Capital LLC 0.00% New 4 $358
Fortitude Family Office, LLC 0.00% Reduce -60.0% 4 $358
True Wealth Design, LLC 0.00% Reduce -55.6% 4 $358
Essential Partners LLC 0.00% Add +100.0% 4 $358
SJS Investment Consulting Inc. 0.00% Add +100.0% 4 $358
1015 Capital Partners, LLC 0.00% — 3 $268
Align Financial, LLC 0.00% — 268 $268
Bay Harbor Wealth Management, LLC 0.00% Add +200.0% 3 $268
Signature Resources Capital Management, LLC 0.00% New 3 $268
Greykasell Wealth Strategies, Inc. 0.00% No change 3 $268
Fifth Third Bancorp 0.00% No change 3 $268
Sittner & Nelson, LLC 0.00% Reduce -25.0% 3 $234
Lodestone Wealth Management LLC 0.00% New 2 $179
HFM Investment Advisors, LLC 0.00% No change 2 $179
Mascoma Wealth Management LLC 0.00% No change 2 $179
Bogart Wealth, LLC 0.00% No change 2 $179
HHM Wealth Advisors, LLC 0.00% No change 2 $179
Seneschal Advisors, LLC 0.00% No change 1 $90
JNBA Financial Advisors 0.00% No change 1 $90
American Capital Advisory, LLC 0.00% New 1 $90
Rialto Wealth Management, LLC 0.00% No change 1 $90
LGT Financial Advisors LLC 0.00% No change 1 $89
NFSG Corp 0.00% No change 1 $89
Caitong International Asset Management Co., Ltd 0.00% Reduce -99.1% 1 $89
Cornerstone Planning Group LLC 0.00% New 1 $80
Dunhill Financial, LLC 0.00% New 1 $48

"% of holder's portfolio" is FWONA's weight in each manager's 13F, not the share of Liberty Media Corp. Class A the manager owns.