MarqetaMQ
13F holders, Q2 2025 (June 30)At the end of Q2 2025, 248 institutions reported holding Marqeta Inc. (MQ) in their 13F filings, down 7 from Q1 2025. 44 opened new positions and 50 sold out. The largest holders were T. Rowe Price Associates Inc. ($327.8M), Vanguard Group Inc. ($248.6M) and T. Rowe Price Investment Management, Inc. ($176.8M). 7 famous investors held it, including Jim Simons / Peter Brown (0.1% of Renaissance Technologies's portfolio), Ken Griffin (0.0% of Citadel Advisors's portfolio) and Paul Tudor Jones (0.0% of Tudor Investment Corporation's portfolio).
- Company
- Marqeta Inc.
- CUSIP
- 57142B104
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q1 2025 → Q2 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 44 | $53.8M |
| Exits | 50 | $62.6M |
All 13F filers, Q1 2025 → Q2 2025: 61,214,045 shares bought and 55,158,682 shares sold, net +6,055,363 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 248 holders
| T. Rowe Price Associates Inc. | 0.04% | Add +36.8% | 56,232,460 | $327.8M |
| Vanguard Group Inc. | 0.00% | Reduce -1.3% | 42,646,340 | $248.6M |
| T. Rowe Price Investment Management, Inc. | 0.11% | Add +52.7% | 30,327,826 | $176.8M |
| BlackRock, Inc. | 0.00% | Reduce -14.8% | 28,574,579 | $166.6M |
| Renaissance Technologies | 0.10% | Add +11.4% | 13,088,388 | $76.3M |
| Jacobs Levy Equity Management, Inc. | 0.26% | Add +666.6% | 11,450,468 | $66.8M |
| Geode Capital Management, LLC | 0.00% | Reduce -11.1% | 9,900,531 | $57.7M |
| State Street Corp. | 0.00% | Reduce -16.4% | 9,699,089 | $56.5M |
| Dimensional Fund Advisors LP | 0.01% | Add +19.1% | 8,320,700 | $48.5M |
| Wellington Management Group LLP | 0.01% | Add +53.5% | 7,768,788 | $45.3M |
| Arrowstreet Capital, Limited Partnership | 0.03% | New | 7,626,595 | $44.5M |
| Vitruvian Partners LLP | 24.33% | Reduce -36.4% | 6,853,183 | $40.0M |
| North Reef Capital Management LP | 1.68% | Reduce -24.0% | 6,500,000 | $37.9M |
| Invesco Ltd. | 0.01% | Add +8.1% | 6,268,848 | $36.5M |
| Northern Trust Corp. | 0.00% | Reduce -14.5% | 3,584,569 | $20.9M |
| Goldman Sachs Group Inc. | 0.00% | Reduce -2.7% | 3,337,150 | $19.5M |
| Charles Schwab Investment Management Inc. | 0.00% | Reduce -8.0% | 3,201,995 | $18.7M |
| Morgan Stanley | 0.00% | Reduce -25.8% | 2,978,032 | $17.4M |
| Citadel Advisors | 0.01% | Add +144.3% | 2,514,760 | $14.7M |
| Bank of America Corp. | 0.00% | Add +20.0% | 2,461,147 | $14.3M |
| Arnhold LLC | 1.28% | Add +11.6% | 2,401,932 | $14.0M |
| ZWJ Investment Counsel Inc. | 0.43% | Add +4.5% | 1,964,579 | $11.5M |
| Two Sigma Advisers, LP | 0.02% | Reduce -64.1% | 1,961,700 | $11.4M |
| Russell Investments Group, Ltd. | 0.01% | Add +1224.5% | 1,897,823 | $11.1M |
| UBS Group AG | 0.00% | Reduce -68.4% | 1,547,118 | $9.0M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Add +48.8% | 1,377,522 | $8.0M |
| Barclays PLC | 0.00% | Add +19.4% | 1,340,987 | $7.8M |
| Bank of New York Mellon Corp | 0.00% | Reduce -7.7% | 1,253,272 | $7.3M |
| Jane Street Group, LLC | 0.01% | Add +141.1% | 1,232,198 | $7.2M |
| Congress Asset Management Co. | 0.05% | Reduce 0.0% | 1,131,087 | $6.6M |
| Lavaca Capital LLC | 2.54% | No change | 1,066,290 | $6.2M |
| Nuveen, LLC | 0.00% | Reduce -25.4% | 981,288 | $5.7M |
| Perigon Wealth Management, LLC | 0.13% | No change | 971,323 | $5.7M |
| American Century Companies Inc. | 0.00% | Add +23.5% | 963,250 | $5.6M |
| ExodusPoint Capital Management, LP | 0.06% | Reduce -18.6% | 899,738 | $5.2M |
| Voloridge Investment Management, LLC | 0.02% | Add +3169.3% | 878,401 | $5.1M |
| Prudential Financial Inc. | 0.01% | Add +2245.2% | 840,285 | $4.9M |
| Swiss National Bank | 0.00% | No change | 812,400 | $4.7M |
| Nordea Investment Management AB | 0.00% | Reduce -1.1% | 805,568 | $4.7M |
| Two Sigma Investments, LP | 0.01% | Reduce -73.3% | 760,829 | $4.4M |
| Royal Bank of Canada | 0.00% | Add +1581.7% | 752,231 | $4.4M |
| Robeco Institutional Asset Management B.V. | 0.01% | Reduce -16.7% | 750,000 | $4.4M |
| Optimus Prime Fund Management Co., Ltd. | 0.43% | No change | 745,000 | $4.3M |
| CPV Partners, LLC | 2.30% | No change | 716,075 | $4.2M |
| Norges Bank | 0.00% | Reduce -5.1% | 695,931 | $4.1M |
| Millennium Management | 0.00% | Reduce -72.9% | 679,571 | $4.0M |
| Ameriprise Financial Inc. | 0.00% | Add +0.8% | 669,311 | $3.9M |
| Gilder Gagnon Howe & Co. LLC | 0.04% | Reduce -4.2% | 665,107 | $3.9M |
| Susquehanna International Group, LLP | 0.01% | Reduce -47.2% | 635,555 | $3.7M |
| TD Asset Management Inc | 0.00% | Add +62.2% | 622,848 | $3.6M |
| Rhumbline Advisers | 0.00% | Reduce -11.2% | 610,112 | $3.6M |
| Alta Park Capital, LP | 0.43% | No change | 596,255 | $3.5M |
| Penserra Capital Management LLC | 0.05% | Reduce -13.2% | 571,356 | $3.3M |
| Alliancebernstein L.P. | 0.00% | Reduce -8.7% | 524,880 | $3.1M |
| State Board of Administration of Florida Retirement System | 0.01% | Add +272.3% | 520,956 | $3.0M |
| Legal & General Group Plc | 0.00% | Add +5.7% | 517,137 | $3.0M |
| Werba Rubin Papier Wealth Management | 0.54% | No change | 493,118 | $2.9M |
| Novo Holdings A/S | 0.18% | No change | 441,558 | $2.6M |
| Nebula Research & Development LLC | 0.22% | Add +12.4% | 440,833 | $2.6M |
| Deutsche Bank AG | 0.00% | Reduce -18.1% | 438,333 | $2.6M |
| Brevan Howard Capital Management LP | 0.03% | Add +410.1% | 432,937 | $2.5M |
| Graham Capital Management, L.P. | 0.07% | Reduce -27.8% | 415,993 | $2.4M |
| Sei Investments Co. | 0.00% | Add +290.5% | 394,179 | $2.3M |
| Jump Financial, LLC | 0.03% | Reduce -31.1% | 375,541 | $2.2M |
| Sora Investors LLC | 0.20% | Reduce -60.0% | 371,449 | $2.2M |
| California State Teachers Retirement System | 0.00% | No change | 370,145 | $2.2M |
| State of New Jersey Common Pension Fund D | 0.01% | Reduce -30.5% | 362,200 | $2.1M |
| JPMorgan Chase & Co. | 0.00% | Reduce -93.2% | 359,459 | $2.1M |
| Rockefeller Capital Management L.P. | 0.00% | No change | 325,184 | $1.9M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.01% | Add +791.5% | 310,162 | $1.8M |
| Creative Planning | 0.00% | Reduce -23.6% | 304,680 | $1.8M |
| Cerity Partners LLC | 0.00% | Add +1.4% | 294,854 | $1.7M |
| Marshall Wace, LLP | 0.00% | Reduce -87.5% | 294,447 | $1.7M |
| Caption Management, LLC | 0.15% | New | 280,000 | $1.6M |
| Aquatic Capital Management LLC | 0.03% | Reduce -3.2% | 271,822 | $1.6M |
| Palogic Value Management, L.P. | 0.68% | Reduce -28.9% | 270,000 | $1.6M |
| Primecap Management Co. | 0.00% | Reduce -13.1% | 268,600 | $1.6M |
| Intech Investment Management LLC | 0.01% | Reduce -9.0% | 262,056 | $1.5M |
| Weiss Asset Management LP | 0.03% | New | 248,951 | $1.5M |
| MetLife Investment Management, LLC | 0.01% | Reduce -17.1% | 230,748 | $1.3M |
| Wells Fargo & Company | 0.00% | Reduce -2.9% | 227,333 | $1.3M |
| SBI Securities Co., Ltd. | 0.04% | Reduce -8.4% | 225,301 | $1.3M |
| Summit Trail Advisors, LLC | 0.02% | Add +1.0% | 221,201 | $1.3M |
| Citigroup Inc. | 0.00% | Reduce -44.5% | 220,067 | $1.3M |
| Commonwealth Equity Services, LLC | 0.00% | Reduce -11.2% | 212,294 | $1.2M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Reduce -24.4% | 210,867 | $1.2M |
| Manufacturers Life Insurance Company, The | 0.00% | Reduce -19.2% | 209,958 | $1.2M |
| US Bancorp \de | 0.00% | Add +142.3% | 197,751 | $1.2M |
| Jain Global LLC | 0.02% | Add +513.4% | 196,540 | $1.1M |
| VIRGINIA RETIREMENT SYSTEMS ET Al | 0.01% | Add +1.7% | 192,544 | $1.1M |
| Janus Henderson Group PLC | 0.00% | No change | 187,199 | $1.1M |
| Public Employees Retirement System of Ohio | 0.00% | Add +313.4% | 168,430 | $982K |
| FMR LLC | 0.00% | Add +89.3% | 165,767 | $966K |
| D. E. Shaw & Co. | 0.00% | New | 165,014 | $962K |
| STRS Ohio | 0.00% | Reduce -9.8% | 152,800 | $891K |
| Ensign Peak Advisors, Inc | 0.00% | No change | 150,545 | $878K |
| Walleye Capital LLC | 0.01% | Reduce -51.5% | 148,195 | $864K |
| State of Wisconsin Investment Board | 0.00% | Add +29.9% | 146,294 | $853K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | Add +1.1% | 140,367 | $818K |
| Prana Capital Management, LP | 0.03% | Add +433.2% | 138,250 | $806K |
| Uber Technologies, Inc | 0.02% | New | 135,042 | $787K |
| Arizona State Retirement System | 0.00% | Add +2.9% | 123,608 | $721K |
| Corient Private Wealth LP | 0.00% | Reduce -0.9% | 123,205 | $718K |
| New York State Common Retirement Fund | 0.00% | Reduce -12.4% | 121,579 | $709K |
| Tudor Investment Corporation | 0.01% | Add +35.7% | 119,233 | $695K |
| First Trust Advisors LP | 0.00% | Reduce -23.9% | 118,541 | $691K |
| Voya Investment Management LLC | 0.00% | Reduce -80.3% | 107,961 | $629K |
| Teacher Retirement System of Texas | 0.00% | Add +75.5% | 107,262 | $625K |
| Handelsbanken Fonder AB | 0.00% | Reduce -2.2% | 103,800 | $605K |
| Victory Capital Management Inc. | 0.00% | Add +56.9% | 98,856 | $576K |
| Jasper Ridge Partners, L.P. | 0.01% | Add +3.1% | 95,244 | $555K |
| Police & Firemen's Retirement System of New Jersey | 0.00% | Reduce -12.2% | 87,656 | $511K |
| KLP Kapitalforvaltning As | 0.00% | Add +15.6% | 84,500 | $493K |
| Citizens Financial Group Inc. | 0.01% | New | 78,971 | $460K |
| ProShare Advisors LLC | 0.00% | Reduce -22.2% | 78,896 | $460K |
| AQR Capital Management | 0.00% | Add +461.1% | 77,647 | $453K |
| Sanders Morris Harris LLC | 0.11% | Add +111.1% | 76,000 | $443K |
| State of Wyoming | 0.05% | New | 75,853 | $442K |
| Raymond James Financial Inc. | 0.00% | No change | 75,779 | $442K |
| BNP Paribas Financial Markets | 0.00% | Add +29.4% | 74,707 | $436K |
| Utah Retirement Systems | 0.00% | No change | 68,724 | $401K |
| Keybank National Association | 0.00% | No change | 66,433 | $387K |
| Tower Research Capital LLC (TRC) | 0.01% | Add +412.6% | 65,481 | $382K |
| Pictet Asset Management Holding SA | 0.00% | Reduce -17.9% | 64,086 | $374K |
| Allspring Global Investments Holdings, LLC | 0.00% | Reduce -5.4% | 63,911 | $371K |
| Vident Advisory, LLC | 0.00% | New | 58,436 | $341K |
| Mariner, LLC | 0.00% | Reduce -38.4% | 56,521 | $330K |
| Gallagher Fiduciary Advisors, LLC | 0.01% | Add +21.1% | 55,872 | $326K |
| Atria Investments, Inc | 0.00% | Add +18.0% | 54,796 | $319K |
| Quantessence Capital LLC | 0.09% | New | 54,422 | $317K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 53,877 | $314K |
| Verition Fund Management LLC | 0.00% | Reduce -39.3% | 53,478 | $312K |
| Fox Run Management, L.L.C. | 0.05% | New | 52,880 | $308K |
| Cibc World Markets Corp. | 0.00% | Reduce -54.4% | 47,406 | $276K |
| Bayforest Capital Ltd | 0.12% | New | 47,055 | $274K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | Reduce -32.9% | 45,255 | $264K |
| Northside Capital Management, LLC | 0.02% | No change | 44,753 | $261K |
| Empowered Funds, LLC | 0.00% | Reduce -6.3% | 44,299 | $258K |
| Zacks Investment Management | 0.00% | No change | 40,195 | $234K |
| Ameritas Investment Partners, Inc. | 0.01% | Reduce -20.8% | 39,281 | $229K |
| Evoke Wealth, LLC | 0.01% | Add +1.7% | 38,407 | $224K |
| Schonfeld Strategic Advisors LLC | 0.00% | Reduce -93.2% | 37,941 | $221K |
| Gsa Capital Partners LLP | 0.02% | Add +255.0% | 37,664 | $220K |
| HSBC Holdings PLC | 0.00% | Reduce -51.5% | 37,376 | $218K |
| Petrus Trust Company, LTA | 0.02% | New | 35,256 | $206K |
| LPL Financial LLC | 0.00% | Add +69.5% | 34,810 | $203K |
| Cache Advisors, LLC | 0.05% | No change | 34,091 | $199K |
| Letson Investment Management, Inc. | 0.08% | No change | 34,014 | $198K |
| Cardinal Point Capital Management ULC | 0.01% | New | 31,969 | $186K |
| Simplex Trading, LLC | 0.00% | Reduce -91.6% | 30,676 | $178K |
| Xponance LLC | 0.00% | Reduce -16.5% | 29,929 | $174K |
| Mackenzie Financial Corp. | 0.00% | No change | 29,770 | $174K |
| Tidal Investments LLC | 0.00% | New | 29,760 | $174K |
| SG Americas Securities, LLC | 0.00% | Reduce -84.9% | 29,101 | $170K |
| Post Resch Tallon Group Inc. | 0.16% | Add +0.5% | 29,075 | $170K |
| Laurion Capital Management LP | 0.02% | New | 28,246 | $165K |
| Cornerstone Investment Partners, LLC | 0.01% | New | 27,753 | $162K |
| Acadian Asset Management LLC | 0.00% | New | 27,387 | $158K |
| Principal Financial Group Inc. | 0.00% | Reduce -26.9% | 26,812 | $156K |
| Ironwood Investment Management LLC | 0.07% | Add +7.9% | 26,050 | $152K |
| Gotham Asset Management | 0.00% | New | 25,990 | $152K |
| Prospera Financial Services Inc | 0.00% | No change | 25,407 | $148K |
| Quantinno Capital Management LP | 0.00% | Add +9.3% | 24,526 | $143K |
| Man Group plc | 0.00% | Add +38.3% | 23,051 | $134K |
| Capstone Investment Advisors, LLC | 0.00% | New | 22,381 | $130K |
| Brighton Jones LLC | 0.00% | Reduce -0.3% | 21,170 | $123K |
| Hudson Bay Capital Management LP | 0.00% | New | 20,920 | $122K |
| Advisory Services Network, LLC | 0.00% | Reduce -0.0% | 19,942 | $114K |
| Two Sigma Securities, LLC | 0.01% | New | 19,412 | $113K |
| Neuberger Berman Group LLC | 0.00% | Add +2.1% | 18,613 | $109K |
| 360 Financial, Inc. | 0.03% | No change | 18,300 | $107K |
| apricus wealth, LLC | 0.06% | No change | 18,000 | $105K |
| Whittier Trust Co. | 0.00% | No change | 17,958 | $105K |
| Vanguard Personalized Indexing Management, LLC | 0.00% | Reduce -43.1% | 17,377 | $101K |
| Sig Brokerage, LP | 0.03% | Reduce -54.4% | 16,679 | $97K |
| IFP Advisors, Inc | 0.00% | Reduce -2.2% | 15,315 | $94K |
| KBC Group NV | 0.00% | Reduce -29.2% | 15,959 | $93K |
| Los Angeles Capital Management LLC | 0.00% | New | 15,766 | $92K |
| CIBC Asset Management Inc | 0.00% | No change | 14,415 | $84K |
| Catalyst Funds Management Pty Ltd | 0.02% | New | 14,400 | $84K |
| O'shaughnessy Asset Management, LLC | 0.00% | New | 13,976 | $81K |
| Kapitalo Investimentos Ltda | 0.02% | New | 13,897 | $81K |
| HUB Investment Partners, LLC | 0.00% | New | 13,750 | $80K |
| Federation des caisses Desjardins du Quebec | 0.00% | Reduce -5.5% | 13,650 | $80K |
| EntryPoint Capital, LLC | 0.04% | New | 13,628 | $79K |
| Amalgamated Bank | 0.00% | Reduce -21.0% | 13,127 | $77K |
| Franklin Resources Inc. | 0.00% | Reduce -3.7% | 13,151 | $77K |
| Brio Consultants, LLC | 0.01% | Reduce -29.2% | 12,138 | $71K |
| CreativeOne Wealth, LLC | 0.00% | No change | 12,000 | $70K |
| Certuity, LLC | 0.01% | No change | 11,639 | $68K |
| Daiwa Securities Group Inc. | 0.00% | New | 11,238 | $66K |
| Swiss Life Asset Management Ltd | 0.00% | New | 10,647 | $62K |
| Abel Hall, LLC | 0.03% | New | 10,428 | $61K |
| Forum Financial Management, LP | 0.00% | New | 10,220 | $60K |
| Nisa Investment Advisors, LLC | 0.00% | Add +61.8% | 9,787 | $57K |
| Advisors Asset Management, Inc. | 0.00% | Reduce -0.8% | 6,914 | $40K |
| Parallel Advisors, LLC | 0.00% | Reduce -6.8% | 6,794 | $40K |
| Sterling Capital Management LLC | 0.00% | Add +295.8% | 6,063 | $35K |
| Walleye Trading LLC | 0.00% | Reduce -78.4% | 5,615 | $33K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | New | 3,885 | $23K |
| Cwm, LLC | 0.00% | Reduce -39.5% | 3,791 | $22K |
| Osaic Holdings, Inc. | 0.00% | Reduce -10.9% | 3,725 | $22K |
| Allworth Financial LP | 0.00% | Add +3.1% | 3,213 | $19K |
| Brooklyn Investment Group | 0.00% | New | 2,598 | $15K |
| Versant Capital Management, Inc | 0.00% | Reduce -38.6% | 2,440 | $14K |
| Northwestern Mutual Wealth Management Co. | 0.00% | Reduce -63.8% | 2,353 | $14K |
| Archer Investment Corp | 0.00% | No change | 2,000 | $12K |
| Jones Financial Companies LLLP | 0.00% | Reduce -53.1% | 1,500 | $9K |
| Your Advocates Ltd., LLP | 0.00% | No change | 1,500 | $9K |
| Farther Finance Advisors, LLC | 0.00% | Add +194.8% | 1,483 | $9K |
| Huntington National Bank | 0.00% | No change | 1,406 | $8K |
| National Bank of Canada | 0.00% | Add +33.3% | 1,200 | $7K |
| Y.D. More Investments Ltd | 0.00% | Reduce -33.5% | 1,139 | $7K |
| Wilmington Savings Fund Society, FSB | 0.00% | No change | 1,066 | $6K |
| Rothschild Investment LLC | 0.00% | Add +39.0% | 1,015 | $6K |
| Fourth Dimension Wealth, LLC | 0.00% | Reduce -34.6% | 935 | $5K |
| Comerica Bank | 0.00% | Reduce -61.4% | 864 | $5K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +122.9% | 613 | $4K |
| Operose Advisors LLC | 0.00% | No change | 561 | $3K |
| UMB Bank, n.a. | 0.00% | New | 526 | $3K |
| Red Tortoise LLC | 0.00% | No change | 517 | $3K |
| PNC Financial Services Group, Inc. | 0.00% | Add +112.8% | 515 | $3K |
| Parkside Financial Bank & Trust | 0.00% | Add +26.2% | 448 | $3K |
| Private Wealth Management Group, LLC | 0.00% | Reduce -22.9% | 432 | $3K |
| GAMMA Investing LLC | 0.00% | New | 347 | $2K |
| Hemington Wealth Management | 0.00% | Add +350.6% | 401 | $2K |
| Optiver Holding B.V. | 0.00% | New | 267 | $2K |
| United Community Bank | 0.00% | New | 250 | $1K |
| Arax Advisory Partners | 0.00% | No change | 243 | $1K |
| Smartleaf Asset Management LLC | 0.00% | Reduce -76.8% | 241 | $1K |
| Signaturefd, LLC | 0.00% | Reduce -82.7% | 173 | $1K |
| CoreCap Advisors, LLC | 0.00% | No change | 125 | $729 |
| Geneos Wealth Management Inc. | 0.00% | New | 109 | $635 |
| JCSD Capital, LLC | 0.00% | — | 100 | $583 |
| Optimum Investment Advisors | 0.00% | No change | 100 | $583 |
| Physician Wealth Advisors, Inc. | 0.00% | New | 84 | $490 |
| JFS Wealth Advisors, LLC | 0.00% | Add +712.5% | 65 | $379 |
| DiNuzzo Private Wealth, Inc. | 0.00% | Add +533.3% | 57 | $333 |
| Fortitude Family Office, LLC | 0.00% | New | 52 | $303 |
| Fifth Third Bancorp | 0.00% | No change | 48 | $280 |
| SJS Investment Consulting Inc. | 0.00% | Reduce -86.5% | 40 | $234 |
| HFM Investment Advisors, LLC | 0.00% | Add +242.9% | 24 | $140 |
| Rialto Wealth Management, LLC | 0.00% | New | 12 | $70 |
| Bay Harbor Wealth Management, LLC | 0.00% | New | 11 | $64 |
| Parkworth Wealth Management, Inc. | 0.00% | New | 11 | $64 |
| Bell Investment Advisors, Inc | 0.00% | No change | 6 | $35 |
| True Wealth Design, LLC | 0.00% | New | 6 | $35 |
| Covestor Ltd | 0.00% | Reduce -5.6% | 34 | $0 |
"% of holder's portfolio" is MQ's weight in each manager's 13F, not the share of Marqeta Inc. the manager owns.