Who owns AFB
Which tracked institutional funds hold AFB, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See AFB company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-20). 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
12 tracked funds added or opened AFB while 7 trimmed or exited it between 2025-Q4 and 2026-Q1 — 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
AFB’s largest tracked holder by dollar value, Pathstone Holdings, LLC, sizes it at 0.1% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.1pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in AFB 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 91 tracked filers holding AFB, 53 increased or opened the position and 33 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 AFB 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.
New buyers 3
- Rareview Capital LLC$4M
- Summit Trail Advisors, LLC$688K
- PETRA FINANCIAL ADVISORS INC$570K
Full exits 1
- Balyasny Asset Management L.P.$1M
Largest adds
- Karpus Management, Inc.$11M
- Pathstone Holdings, LLC$3M
- SIT INVESTMENT ASSOCIATES INC$2M
- ROBINSON CAPITAL MANAGEMENT, LLC$2M
- MORGAN STANLEY$2M
- Altium Capital Management LLC$1M
Largest trims
- Saba Capital Management, L.P.$25M
- Lido Advisors, LLC$3M
- ROYAL BANK OF CANADA$1M
- UBS Group AG$1M
- Fiera Capital Corp$1M
- Logan Stone Capital, LLC$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 |
|---|---|---|---|---|
| Pathstone Holdings, LLC added | 3,088,392 | $33M | 16.2% | 2026-Q1 |
| Karpus Management, Inc. added | 2,553,118 | $27M | 13.4% | 2026-Q1 |
| Allspring Global Investments Holdings, LLC added | 1,464,577 | $16M | 7.7% | 2026-Q1 |
| RIVERNORTH CAPITAL MANAGEMENT, LLC added | 1,061,484 | $11M | 5.6% | 2026-Q1 |
| KEYBANK NATIONAL ASSOCIATION/OH added | 959,584 | $10M | 5.0% | 2026-Q1 |
| MORGAN STANLEY added | 879,497 | $9M | 4.6% | 2026-Q1 |
| GUGGENHEIM CAPITAL LLC added | 706,284 | $8M | 3.7% | 2026-Q1 |
| Advisors Asset Management, Inc. trimmed | 688,070 | $7M | 3.6% | 2026-Q1 |
| SIT INVESTMENT ASSOCIATES INC added | 676,737 | $7M | 3.6% | 2026-Q1 |
| Hennion & Walsh Asset Management, Inc. trimmed | 606,136 | $6M | 3.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 508,066 | $5M | 2.7% | 2026-Q1 |
| Saba Capital Management, L.P. trimmed | 459,321 | $5M | 2.4% | 2026-Q1 |
| CITY OF LONDON INVESTMENT MANAGEMENT CO LTD | 453,640 | $5M | 2.4% | 2026-Q1 |
| Rareview Capital LLC new | 420,224 | $4M | 2.1% | 2026-Q1 |
| ROBINSON CAPITAL MANAGEMENT, LLC added | 265,460 | $3M | 1.4% | 2026-Q1 |
| VAN ECK ASSOCIATES CORP added | 271,629 | $3M | 1.4% | 2026-Q1 |
| Altium Capital Management LLC added | 222,264 | $2M | 1.2% | 2026-Q1 |
| Almitas Capital LLC | 214,282 | $2M | 1.1% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 194,423 | $2M | 1.0% | 2026-Q1 |
| RIVERBRIDGE PARTNERS LLC added | 155,029 | $2M | 0.8% | 2026-Q1 |
| Logan Stone Capital, LLC trimmed | 152,881 | $2M | 0.8% | 2026-Q1 |
| Fiera Capital Corp trimmed | 147,981 | $2M | 0.8% | 2026-Q1 |
| Bank of New York Mellon Corp added | 147,061 | $2M | 0.8% | 2026-Q1 |
| Indiana Trust & Investment Management Co trimmed | 137,000 | $1M | 0.7% | 2026-Q1 |
| LORD, ABBETT & CO. LLC added | 129,025 | $1M | 0.7% | 2026-Q1 |
| WHITEBOX ADVISORS LLC | 113,648 | $1M | 0.6% | 2026-Q1 |
| Dakota Wealth Management added | 104,127 | $1M | 0.5% | 2026-Q1 |
| LPL Financial LLC added | 99,324 | $1M | 0.5% | 2026-Q1 |
| &PARTNERS added | 92,698 | $991K | 0.5% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 78,451 | $839K | 0.4% | 2026-Q1 |
| COHEN & STEERS, INC. | 78,000 | $834K | 0.4% | 2026-Q1 |
| Integrated Wealth Concepts LLC trimmed | 73,159 | $782K | 0.4% | 2026-Q1 |
| Capital Investment Advisors, LLC trimmed | 68,848 | $736K | 0.4% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 66,506 | $711K | 0.3% | 2026-Q1 |
| Noble Wealth Management PBC added | 64,545 | $690K | 0.3% | 2026-Q1 |
| Summit Trail Advisors, LLC added | 64,337 | $688K | 0.3% | 2026-Q1 |
| Closed-End Fund Advisors, Inc. added | 62,678 | $670K | 0.3% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 57,545 | $615K | 0.3% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 56,795 | $607K | 0.3% | 2026-Q1 |
| PETRA FINANCIAL ADVISORS INC new | 53,350 | $570K | 0.3% | 2026-Q1 |
| Traub Capital Management LLC added | 50,291 | $538K | 0.3% | 2026-Q1 |
| MELFA WEALTH MANAGEMENT, INC. | 47,652 | $509K | 0.3% | 2026-Q1 |
| KENNEDY INVESTMENT GROUP, INC. trimmed | 47,281 | $505K | 0.2% | 2026-Q1 |
| Creative Planning trimmed | 45,278 | $484K | 0.2% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 41,835 | $447K | 0.2% | 2026-Q1 |
| Lido Advisors, LLC trimmed | 37,538 | $401K | 0.2% | 2026-Q1 |
| 1607 Capital Partners, LLC | 35,947 | $384K | 0.2% | 2026-Q1 |
| Invesco Ltd. trimmed | 35,348 | $378K | 0.2% | 2026-Q1 |
| Arete Wealth Advisors, LLC added | 34,137 | $363K | 0.2% | 2026-Q1 |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC | 33,722 | $360K | 0.2% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 32,662 | $349K | 0.2% | 2026-Q1 |
| ProVise Management Group, LLC | 28,856 | $308K | 0.2% | 2026-Q1 |
| Jupiter Wealth Management LLC added | 27,175 | $302K | 0.1% | 2026-Q1 |
| Catalina Capital Group, LLC added | 27,513 | $294K | 0.1% | 2026-Q1 |
| EVOLVE PRIVATE WEALTH, LLC trimmed | 27,304 | $292K | 0.1% | 2026-Q1 |
| UBS Group AG trimmed | 26,877 | $287K | 0.1% | 2026-Q1 |
| Wellspring Financial Advisors, LLC added | 26,091 | $279K | 0.1% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 23,558 | $252K | 0.1% | 2026-Q1 |
| BALANCED WEALTH GROUP LLC added | 23,245 | $248K | 0.1% | 2026-Q1 |
| Financially in Tune, LLC | 21,600 | $231K | 0.1% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 20,486 | $219K | 0.1% | 2026-Q1 |
| Smith Asset Management Co., LLC | 18,203 | $195K | 0.1% | 2026-Q1 |
| US BANCORP \DE\ | 17,232 | $184K | 0.1% | 2026-Q1 |
| Cerity Partners LLC added | 15,612 | $167K | 0.1% | 2026-Q1 |
| Merit Financial Group, LLC added | 15,168 | $162K | 0.1% | 2026-Q1 |
| Independent Advisor Alliance | 14,968 | $160K | 0.1% | 2026-Q1 |
| Ackerman Capital Advisors, LLC added | 14,099 | $151K | 0.1% | 2026-Q1 |
| CHOREO, LLC added | 13,092 | $140K | 0.1% | 2026-Q1 |
| River Street Advisors LLC | 11,182 | $120K | 0.1% | 2026-Q1 |
| DUNCKER STREETT & CO INC | 11,000 | $118K | 0.1% | 2026-Q1 |
| U.S. Capital Wealth Advisors, LLC | 10,213 | $109K | 0.1% | 2026-Q1 |
| ACCREDITED INVESTOR SERVICES, LLC trimmed | 10,084 | $108K | 0.1% | 2026-Q1 |
| Curi Capital, LLC trimmed | 10,000 | $107K | 0.1% | 2026-Q1 |
| NOMURA HOLDINGS INC | 10,000 | $107K | 0.1% | 2026-Q1 |
| Allworth Financial LP | 7,000 | $75K | 0.0% | 2026-Q1 |
| Balyasny Asset Management L.P. new | 93,982 | $1M | 0.5% | 2025-Q4 stale |
| ROTHSCHILD INVESTMENT LLC trimmed | 68,474 | $706K | 0.3% | 2025-Q2 stale |
| Avior Wealth Management, LLC added | 33,571 | $365K | 0.2% | 2025-Q1 stale |
| WOLVERINE ASSET MANAGEMENT LLC added | 27,196 | $294K | 0.1% | 2025-Q4 stale |
| HUB Investment Partners, LLC added | 24,366 | $264K | 0.1% | 2025-Q3 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 16,677 | $180K | 0.1% | 2025-Q4 stale |
| JANE STREET GROUP, LLC added | 15,072 | $163K | 0.1% | 2025-Q4 stale |
| PFG Investments, LLC new | 14,043 | $152K | 0.1% | 2025-Q4 stale |
| BANK OF MONTREAL /CAN/ added | 12,986 | $140K | 0.1% | 2025-Q4 stale |
| SMH CAPITAL ADVISORS INC | 12,609 | $136K | 0.1% | 2025-Q4 stale |
| Plan A Wealth LLC | 12,571 | $136K | 0.1% | 2025-Q3 stale |
| Inscription Capital, LLC added | 12,313 | $135K | 0.1% | 2025-Q1 stale |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. trimmed | 12,147 | $131K | 0.1% | 2025-Q4 stale |
| HRT FINANCIAL LP new | 11,495 | $124K | 0.1% | 2025-Q1 stale |
| TORONTO DOMINION BANK new | 11,833 | $122K | 0.1% | 2025-Q2 stale |
| READYSTATE ASSET MANAGEMENT LP new | 11,013 | $119K | 0.1% | 2025-Q4 stale |
| LifeGoal Wealth Advisors | 10,698 | $116K | 0.1% | 2025-Q1 stale |
| Bulldog Investors, LLP trimmed | 10,474 | $113K | 0.1% | 2025-Q4 stale |
| AQR Arbitrage LLC trimmed | 10,270 | $112K | 0.1% | 2025-Q1 stale |
| CAROLINAS WEALTH CONSULTING LLC new | 10,000 | $109K | 0.1% | 2025-Q1 stale |
| CAPTRUST FINANCIAL ADVISORS new | 10,032 | $103K | 0.1% | 2025-Q2 stale |
| Elequin Capital, LP new | 8,175 | $84K | 0.0% | 2025-Q2 stale |
| CX Institutional trimmed | 7,500 | $77K | 0.0% | 2025-Q2 stale |
| PNC Financial Services Group, Inc. added | 6,019 | $65K | 0.0% | 2025-Q3 stale |
| Geneos Wealth Management Inc. trimmed | 5,231 | $54K | 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.