Talos EnergyTALO

13F holders, Q1 2026 (March 31)
289holders +29
58new positions
28sold out
7famous investors
$15.76avg. 13F price*

At the end of Q1 2026, 289 institutions reported holding Talos Energy Inc. (TALO) in their 13F filings, up 29 from Q4 2025. 58 opened new positions and 28 sold out. The largest holders were BlackRock, Inc. ($308.3M), Dimensional Fund Advisors LP ($149.2M) and State Street Corp. ($126.2M). 7 famous investors held it, including Paul Tudor Jones (0.0% of Tudor Investment Corporation's portfolio), Israel Englander (0.0% of Millennium Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).

Company
Talos Energy Inc.
CUSIP
87484T108
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300 Q1 2024: 211Q1 2024Q2 2024: 210Q2 2024Q3 2024: 223Q3 2024Q4 2024: 208Q4 2024Q1 2025: 231Q1 2025Q2 2025: 248Q2 2025Q3 2025: 236Q3 2025Q4 2025: 260Q4 2025Q1 2026: 289Q1 2026Q2 2026: 294Q2 2026

Total Exit/New Position Q4 2025 → Q1 2026

InstitutionsTotal Value
New Positions58$57.1M
Exits28$20.4M

All 13F filers, Q4 2025 → Q1 2026: 14,576,666 shares bought and 12,831,597 shares sold, net +1,745,069 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 289 holders

BlackRock, Inc. 0.01% Reduce -0.3% 19,559,728 $308.3M
Dimensional Fund Advisors LP 0.03% Add +5.6% 9,468,553 $149.2M
State Street Corp. 0.00% Add +26.5% 8,006,949 $126.2M
Sourcerock Group LLC 5.27% Reduce -24.8% 7,949,403 $125.3M
American Century Companies Inc. 0.05% Add +5.0% 5,869,787 $92.5M
Vanguard Capital Management LLC 0.00% — 5,343,393 $84.2M
Canada Pension Plan Investment Board 0.04% Reduce -0.1% 4,018,800 $63.3M
Vanguard Portfolio Management LLC 0.00% — 3,323,713 $52.4M
Geode Capital Management, LLC 0.00% Add +1.2% 3,092,046 $48.7M
Webs Creek Capital Management LP 8.28% Reduce -8.2% 3,032,692 $47.8M
BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.05% Add +8.7% 2,687,870 $42.4M
Charles Schwab Investment Management Inc. 0.01% Add +0.1% 2,451,338 $38.6M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% Reduce -13.7% 2,430,416 $38.3M
Morgan Stanley 0.00% Add +15.9% 1,957,929 $30.9M
Victory Capital Management Inc. 0.02% Add +16.0% 1,843,981 $29.1M
Nuveen, LLC 0.01% Add +26.1% 1,793,932 $28.3M
Ameriprise Financial Inc. 0.01% Reduce -20.2% 1,456,200 $22.9M
MacKay Shields LLC 7.84% Reduce -55.8% 1,329,097 $20.9M
Bridgeway Capital Management, LLC 0.41% Add +2.4% 1,308,704 $20.6M
Northern Trust Corp. 0.00% Add +2.3% 1,270,789 $20.0M
Invesco Ltd. 0.00% Add +11.3% 1,158,275 $18.3M
Empowered Funds, LLC 0.12% Add +3.4% 1,152,594 $18.2M
Millennium Management 0.01% Add +217.7% 1,084,117 $17.1M
Goldman Sachs Group Inc. 0.00% Reduce -30.1% 1,053,287 $16.6M
Citadel Advisors 0.01% Add +754.3% 1,039,278 $16.4M
Federated Hermes, Inc. 0.03% Add +56.0% 1,003,671 $15.8M
Principal Financial Group Inc. 0.01% Reduce -13.4% 838,782 $13.2M
Vanguard Fiduciary Trust Co. 0.00% — 810,098 $12.8M
Hotchkis & Wiley Capital Management LLC 0.04% Reduce -42.6% 756,462 $11.9M
Barclays PLC 0.00% Reduce -10.0% 723,068 $11.4M
Bank of New York Mellon Corp 0.00% Reduce -3.8% 705,303 $11.1M
Man Group plc 0.02% Add +93.2% 694,824 $11.0M
CSM Advisors, LLC 0.26% Add +67.2% 664,781 $10.5M
Jane Street Group, LLC 0.01% Add +268.9% 662,967 $10.4M
Public Sector Pension Investment Board 0.03% Add +9.2% 650,958 $10.3M
Cambria Investment Management, L.P. 0.54% Add +950.8% 618,856 $9.8M
JPMorgan Chase & Co. 0.00% Add +354.5% 589,916 $9.6M
Franklin Resources Inc. 0.00% Add +38.2% 603,908 $9.5M
Bank of America Corp. 0.00% Add +9.5% 578,751 $9.1M
Connor, Clark & Lunn Investment Management Ltd. 0.02% New 563,030 $8.9M
First Eagle Investment Management, LLC 0.01% New 503,900 $7.9M
Nexpoint Asset Management, L.P. 0.55% Reduce -3.2% 496,596 $7.8M
American Financial Group Inc. 2.85% Reduce -67.2% 487,637 $7.7M
Arrowstreet Capital, Limited Partnership 0.00% Add +22.9% 459,477 $7.2M
Algert Global LLC 0.11% New 459,190 $7.2M
Prudential Financial Inc. 0.01% Reduce -5.8% 455,765 $7.2M
Campbell & CO Investment Adviser LLC 0.41% Add +1994.5% 455,152 $7.2M
Tudor Investment Corporation 0.04% New 450,879 $7.1M
Keating Investment Counselors Inc. 1.73% Reduce -0.0% 443,638 $7.0M
Congress Asset Management Co. 0.05% Add +16.7% 422,069 $6.7M
Soviero Asset Management, LP 3.61% Add +13.3% 408,000 $6.4M
Edgestream Partners, L.P. 0.21% Add +185.0% 399,501 $6.3M
Citigroup Inc. 0.00% Add +84.5% 378,016 $6.0M
Rhumbline Advisers 0.00% Add +0.9% 366,356 $5.8M
Atom Investors LP 0.41% Add +0.6% 366,188 $5.8M
Royal Bank of Canada 0.00% Reduce -16.4% 357,292 $5.6M
Portolan Capital Management, LLC 0.29% Add +189.3% 344,549 $5.4M
Renaissance Technologies 0.01% Reduce -46.6% 344,000 $5.4M
UBS Group AG 0.00% Reduce -63.6% 339,646 $5.4M
First Trust Advisors LP 0.00% Reduce -5.1% 328,979 $5.2M
AQR Capital Management 0.00% Add +29.3% 321,606 $5.1M
D. E. Shaw & Co. 0.00% Reduce -1.4% 317,273 $5.0M
Annis Gardner Whiting Capital Advisors, LLC 0.76% Add +394736.8% 300,076 $4.7M
Rafferty Asset Management, LLC 0.02% Add +85.1% 278,891 $4.4M
Legal & General Group Plc 0.00% Reduce -12.4% 263,874 $4.2M
Thompson Siegel & Walmsley LLC 0.07% Reduce -72.5% 253,067 $4.0M
Swiss National Bank 0.00% Reduce -2.2% 252,300 $4.0M
Boothbay Fund Management, LLC 0.09% Reduce -32.3% 240,300 $3.8M
Vontobel Holding Ltd. 0.01% No change 225,000 $3.5M
Martingale Asset Management L P 0.09% Add +32.2% 220,730 $3.5M
PDT Partners, LLC 0.20% No change 214,408 $3.4M
Susquehanna International Group, LLP 0.00% New 172,615 $2.7M
Quantbot Technologies LP 0.10% Add +3.4% 160,903 $2.5M
California State Teachers Retirement System 0.00% Add +28.8% 160,442 $2.5M
De Lisle Partners LLP 0.30% New 160,000 $2.5M
Deutsche Bank AG 0.00% Add +31.7% 156,957 $2.5M
SG Americas Securities, LLC 0.00% Reduce -42.4% 154,466 $2.4M
VIRGINIA RETIREMENT SYSTEMS ET Al 0.02% No change 152,350 $2.4M
Quantinno Capital Management LP 0.00% Add +152.0% 147,472 $2.3M
OnyxPoint Global Management LP 1.00% New 143,500 $2.3M
Numerai GP LLC 0.23% Reduce -18.9% 143,427 $2.3M
Sei Investments Co. 0.00% Reduce -36.6% 143,369 $2.3M
O'shaughnessy Asset Management, LLC 0.01% Reduce -25.4% 137,486 $2.2M
ExodusPoint Capital Management, LP 0.02% Add +139.7% 136,673 $2.2M
Pinnacle Holdings, LLC 0.70% Reduce -0.9% 124,501 $2.0M
Jefferies Financial Group Inc. 0.02% New 124,384 $2.0M
Pathstone Holdings, LLC 0.01% Reduce -1.5% 122,576 $1.9M
T. Rowe Price Associates Inc. 0.00% Add +21.1% 115,766 $1.8M
Brookwood Investment Group LLC 0.23% No change 114,700 $1.8M
Creative Planning 0.00% Add +14.7% 107,865 $1.7M
Trexquant Investment LP 0.01% Reduce -81.2% 104,738 $1.7M
Healthcare of Ontario Pension Plan Trust Fund 0.00% New 104,596 $1.6M
CANADA LIFE ASSURANCE Co 0.00% Reduce -5.3% 104,463 $1.6M
Thrivent Financial for Lutherans 0.00% Reduce -2.5% 97,837 $1.5M
Engineers Gate Manager LP 0.02% Add +136.1% 97,579 $1.5M
BNP Paribas Financial Markets 0.00% Add +41.1% 97,070 $1.5M
CoreCommodity Management, LLC 0.27% Add +543.1% 92,963 $1.5M
Alliancebernstein L.P. 0.00% Reduce -0.2% 130,690 $1.4M
Russell Investments Group, Ltd. 0.00% Add +447.3% 90,562 $1.4M
SummerHaven Investment Management, LLC 0.85% Reduce -6.7% 87,661 $1.4M
VANGUARD ASSET MANAGEMENT, Ltd 0.00% — 86,640 $1.4M
Intech Investment Management LLC 0.01% Add +79.8% 86,242 $1.4M
Fulcrum Asset Management LLP 0.19% New 75,274 $1.2M
Sciencast Management LP 0.15% Add +488.5% 74,671 $1.2M
Gotham Asset Management 0.00% Reduce -17.4% 72,244 $1.1M
Concurrent Investment Advisors, LLC 0.01% Add +17.9% 71,585 $1.1M
State of Alaska, Department of Revenue 0.01% Reduce -3.6% 68,688 $1.1M
MetLife Investment Management, LLC 0.01% Reduce -5.0% 68,479 $1.1M
Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% Add +97.5% 66,833 $1.1M
Vident Advisory, LLC 0.01% New 64,289 $1.0M
Ethic Inc. 0.02% Add +3.6% 63,454 $1.0M
Wells Fargo & Company 0.00% Reduce -61.0% 63,106 $995K
New York State Teachers Retirement System 0.00% Reduce -5.5% 61,900 $976K
Janus Henderson Group PLC 0.00% No change 59,624 $939K
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% Reduce -1.7% 59,557 $939K
Wedge Capital Management L L P 0.02% New 59,076 $931K
Manufacturers Life Insurance Company, The 0.00% Reduce -0.7% 58,556 $923K
Illinois Municipal Retirement Fund 0.01% Reduce -12.9% 58,514 $922K
Amundi 0.00% Add +136.6% 56,977 $898K
Louisiana State Employees Retirement System 0.02% Reduce -3.1% 55,800 $879K
Two Sigma Investments, LP 0.00% New 53,883 $849K
XTX Topco Ltd 0.01% Add +197.9% 50,439 $795K
Caxton Associates LLP 0.02% New 50,361 $794K
Virtu Financial LLC 0.03% New 50,121 $790K
Vanguard Global Advisers, LLC 0.00% — 48,773 $769K
Fifth Third Bancorp 0.00% Add +4830.3% 47,232 $744K
Balyasny Asset Management L.P. 0.00% Reduce -67.9% 46,324 $730K
Bleakley Financial Group, LLC 0.01% Add +3.5% 44,827 $706K
Jupiter Asset Management Ltd. 0.00% New 44,602 $703K
GF Fund Management Co. LTD. 0.01% Add +13.8% 42,103 $664K
State of Wisconsin Investment Board 0.00% Add +27.9% 40,836 $644K
Jump Financial, LLC 0.01% New 40,356 $636K
Focus Partners Advisor Solutions, LLC 0.01% Add +8.1% 39,166 $617K
New York State Common Retirement Fund 0.00% Reduce -17.8% 38,854 $612K
Simplex Trading, LLC 0.02% New 38,248 $603K
Royce & Associates LP 0.01% Add +175.7% 36,715 $579K
Peirce Capital Management, LLC 0.23% No change 36,508 $575K
Amalgamated Bank 0.00% Reduce -0.9% 36,365 $573K
Perpetual Ltd 0.01% Reduce -30.6% 36,176 $570K
STRS Ohio 0.00% Add +105.8% 35,200 $555K
Arizona State Retirement System 0.00% Reduce -3.4% 35,050 $552K
Vanguard Investments Australia, Ltd. 0.00% — 34,132 $538K
Aristeia Capital, L.L.C. 0.02% New 33,482 $528K
Police & Firemen's Retirement System of New Jersey 0.00% No change 33,416 $527K
Yousif Capital Management, LLC 0.01% Reduce -1.3% 33,414 $527K
Brevan Howard Capital Management LP 0.01% Reduce -64.0% 32,797 $517K
Vanguard Personalized Indexing Management, LLC 0.01% Add +40.9% 32,156 $507K
State Board of Administration of Florida Retirement System 0.00% No change 31,878 $502K
Teachers Retirement System of the State of Kentucky 0.00% No change 31,814 $502K
Commonwealth of Pennsylvania Public School Empls Retrmt SYS 0.00% Reduce -0.1% 31,108 $490K
AdvisorShares Investments LLC 0.09% New 30,830 $486K
CSS LLC 0.07% New 30,038 $473K
First Citizens Bank & Trust Co. 0.01% Reduce -0.3% 29,733 $469K
Graham Capital Management, L.P. 0.02% New 29,710 $468K
Sterling Capital Management LLC 0.01% Reduce -37.8% 29,345 $462K
State of Wyoming 0.05% Reduce -25.8% 29,170 $460K
Oregon Public Employees Retirement Fund 0.01% No change 28,771 $453K
State of Tennessee, Department of Treasury 0.00% No change 28,685 $452K
Envestnet Portfolio Solutions, Inc. 0.00% Reduce -0.7% 28,365 $447K
Orion Porfolio Solutions, LLC 0.00% Reduce -13.6% 28,105 $443K
KLP Kapitalforvaltning As 0.00% No change 27,900 $440K
Kestra Advisory Services, LLC 0.00% Reduce -9.8% 27,492 $433K
Cambridge Investment Research Advisors, Inc. 0.00% New 27,040 $426K
Ieq Capital, LLC 0.00% New 26,677 $420K
Dynamic Technology Lab Private Ltd 0.07% Add +41.1% 26,632 $420K
FMR LLC 0.00% Reduce -86.6% 26,556 $419K
Jackson Creek Investment Advisors LLC 0.12% Reduce -33.5% 26,483 $417K
Counterpoint Mutual Funds LLC 0.06% Reduce -63.8% 26,276 $414K
Fox Run Management, L.L.C. 0.07% Add +9.2% 25,317 $413K
Hancock Whitney Corp. 0.01% New 25,774 $410K
Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% No change 25,650 $404K
Twinbeech Capital LP 0.04% New 25,139 $396K
Schonfeld Strategic Advisors LLC 0.00% Reduce -59.1% 24,403 $385K
Quadrature Capital Ltd 0.00% New 24,085 $380K
LPL Financial LLC 0.00% New 22,225 $350K
Savant Capital, LLC 0.00% Add +8.6% 22,202 $350K
Voya Investment Management LLC 0.00% Reduce -1.4% 22,095 $348K
HRT Financial LP 0.00% Add +37.6% 20,399 $321K
Pictet Asset Management Holding SA 0.00% Add +1.2% 20,305 $320K
HUB Investment Partners, LLC 0.01% New 20,000 $315K
ProShare Advisors LLC 0.00% Reduce -22.0% 19,764 $311K
Tower Research Capital LLC (TRC) 0.01% Add +450.1% 19,035 $300K
Mercer Global Advisors Inc. 0.00% Add +59.6% 18,884 $298K
Two Sigma Securities, LLC 0.03% New 18,397 $290K
Maryland State Retirement & Pension System 0.01% No change 18,284 $288K
Van Den Berg Management I, Inc. 0.06% Reduce -32.2% 17,895 $282K
Cwm, LLC 0.00% Add +11.8% 17,756 $280K
CoreCap Advisors, LLC 0.01% Add +1.4% 17,450 $275K
Ironwood Investment Management LLC 0.11% No change 16,013 $252K
Centiva Capital, LP 0.01% New 15,435 $243K
Bank of Montreal 0.00% Add +3.5% 15,351 $242K
Saxon Interests, Inc. 0.08% New 15,118 $238K
Blackstone Inc. 0.00% New 14,876 $234K
Coldstream Capital Management Inc. 0.00% Reduce -2.7% 14,708 $232K
GAMMA Investing LLC 0.01% Add +1.8% 14,447 $228K
Mutual of America Capital Management LLC 0.00% Add +0.1% 14,396 $227K
L2 Asset Management, LLC 0.02% New 13,507 $213K
CIBC Asset Management Inc 0.00% Reduce -2.4% 13,166 $207K
EntryPoint Capital, LLC 0.06% Reduce -77.9% 12,953 $204K
GTS Securities LLC 0.01% New 12,650 $199K
WINTON GROUP Ltd 0.01% New 12,300 $194K
Xponance LLC 0.00% Add +17.2% 12,114 $191K
SmartHarvest Portfolios, LLC 0.08% Reduce -1.7% 11,987 $189K
DRW Securities, LLC 0.01% New 11,798 $186K
Caitong International Asset Management Co., Ltd 0.03% New 11,373 $179K
Vise Technologies, Inc. 0.00% No change 15,232 $168K
Mangrove Partners Im, LLC 0.01% New 10,504 $166K
Bailard, Inc. 0.00% New 10,200 $161K
Ameritas Investment Partners, Inc. 0.00% No change 10,061 $159K
Orvieto Partners, L.P. 0.14% Reduce -76.1% 10,000 $158K
Doliver Advisors, LP 0.04% No change 10,000 $158K
Texas Capital Bank Wealth Management Services Inc 0.01% No change 10,000 $158K
Group One Trading LLC 0.00% New 8,150 $128K
Osaic Holdings, Inc. 0.00% Reduce -58.0% 7,490 $118K
US Bancorp \de 0.00% Reduce -14.2% 6,885 $109K
Mitsubishi UFJ Trust & Banking Corp 0.00% New 6,097 $96K
PNC Financial Services Group, Inc. 0.00% Add +0.5% 5,920 $93K
EverSource Wealth Advisors, LLC 0.00% Add +3.1% 5,834 $92K
Public Employees Retirement System of Ohio 0.00% Reduce -3.1% 5,246 $83K
KBC Group NV 0.00% No change 4,614 $73K
Larson Financial Group LLC 0.00% Reduce -3.5% 4,091 $64K
Basecamp Wealth Advisors LLC 0.01% Reduce -0.9% 3,659 $58K
Nomura Asset Management Co. Ltd. 0.00% No change 3,400 $54K
Pinnacle Wealth Planning Services, Inc. 0.00% Add +3.4% 3,015 $48K
Signaturefd, LLC 0.00% Add +2.8% 2,766 $44K
Smartleaf Asset Management LLC 0.00% Reduce -51.4% 2,547 $42K
Nisa Investment Advisors, LLC 0.00% Add +3.0% 2,545 $40K
Quadrant Capital Group LLC 0.00% Add +16.4% 2,497 $39K
Hantz Financial Services, Inc. 0.00% Add +4.8% 2,203 $35K
Farther Finance Advisors, LLC 0.00% Add +0.3% 2,221 $33K
Parallel Advisors, LLC 0.00% Reduce -1.1% 2,066 $33K
High Note Wealth, LLC 0.00% No change 1,349 $21K
MassMutual Private Wealth & Trust, FSB 0.00% Add +34.6% 1,066 $17K
Jones Financial Companies LLLP 0.00% Add +608.6% 985 $16K
Kemnay Advisory Services Inc. 0.00% New 985 $16K
Salomon & Ludwin, LLC 0.00% No change 950 $15K
Bessemer Group Inc. 0.00% No change 630 $10K
Los Angeles Capital Management LLC 0.00% No change 634 $10K
Bayforest Capital Ltd 0.01% New 608 $10K
Versant Capital Management, Inc 0.00% Reduce -27.9% 601 $9K
UMB Bank, n.a. 0.00% Add +2.8% 596 $9K
Valued Wealth Advisors LLC 0.00% New 549 $9K
Advisory Services Network, LLC 0.00% New 500 $8K
Arax Advisory Partners 0.00% Add +19.1% 468 $7K
Allworth Financial LP 0.00% Add +173.7% 468 $7K
IFP Advisors, Inc 0.00% Add +26.1% 450 $7K
Assetmark, Inc. 0.00% New 368 $6K
Essential Partners LLC 0.00% Reduce -2.9% 333 $5K
Steward Partners Investment Advisory, LLC 0.00% No change 215 $3K
Optiver Holding B.V. 0.00% New 214 $3K
Root Financial Partners, LLC 0.00% Add +21.5% 181 $3K
MAI Capital Management 0.00% Add +546.4% 181 $3K
Ares Financial Consulting, LLC 0.00% No change 186 $3K
Prestige Wealth Management Group LLC 0.00% No change 163 $3K
Sound Income Strategies, LLC 0.00% No change 167 $2K
Ancora Advisors LLC 0.00% Reduce -27.2% 150 $2K
Kilter Group LLC 0.00% No change 127 $2K
Keating Financial Advisory Services, Inc. 0.00% Add +135.4% 113 $2K
Parkside Financial Bank & Trust 0.00% No change 112 $2K
Rothschild Investment LLC 0.00% Add +43.8% 105 $2K
Physician Wealth Advisors, Inc. 0.00% Add +86.3% 95 $1K
Bare Financial Services, Inc 0.00% New 90 $1K
True Wealth Design, LLC 0.00% No change 75 $1K
Bell Investment Advisors, Inc 0.00% No change 60 $946
Farmers & Merchants Investments Inc. 0.00% No change 60 $946
JFS Wealth Advisors, LLC 0.00% Add +1.8% 58 $915
Fortitude Family Office, LLC 0.00% Add +54.5% 51 $804
Financial Consulate, Inc. 0.00% No change 45 $710
Stone House Investment Management, LLC 0.00% New 34 $536
Ankerstar Wealth, LLC 0.00% No change 28 $441
Zions Bancorporation, National Association 0.00% New 26 $410
Gilpin Wealth Management, LLC 0.00% Add +50.0% 24 $379
Twin Peaks Wealth Advisors, LLC 0.00% New 22 $347
CVA Family Office, LLC 0.00% New 21 $331
SBI Securities Co., Ltd. 0.00% Reduce -22.2% 21 $331
NewEdge Advisors, LLC 0.00% No change 17 $268
SJS Investment Consulting Inc. 0.00% Add +325.0% 17 $268
Brown Brothers Harriman & Co. 0.00% New 14 $221
TD Private Client Wealth LLC 0.00% No change 14 $221
Abound Wealth Management 0.00% No change 13 $205
Bay Harbor Wealth Management, LLC 0.00% Add +42.9% 10 $157
DiNuzzo Private Wealth, Inc. 0.00% Reduce -27.3% 8 $127
Rialto Wealth Management, LLC 0.00% No change 6 $95
Anfield Capital Management, LLC 0.00% New 4 $63
HFM Investment Advisors, LLC 0.00% No change 4 $63
Vermillion Wealth Management, Inc. 0.00% New 2 $32
Raffa Wealth Management, LLC 0.00% New 1 $16
Curio Wealth, LLC 0.00% New 1 $16
Covestor Ltd 0.00% No change 10 $0

"% of holder's portfolio" is TALO's weight in each manager's 13F, not the share of Talos Energy Inc. the manager owns.