Who owns CMBS
Which tracked institutional funds hold CMBS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See CMBS company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 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
15 tracked funds added or opened CMBS while 16 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
CMBS’s largest tracked holder by dollar value, UBS Group AG, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in CMBS 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 92 tracked filers holding CMBS, 42 increased or opened the position and 47 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 CMBS 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 7
- CITADEL ADVISORS LLC$4M
- GOLDMAN SACHS GROUP INC$3M
- TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC$3M
- Beacon Pointe Advisors, LLC$2M
- JANE STREET GROUP, LLC$1M
- FLOW TRADERS U.S. LLC$895K
Full exits 4
- U.S. Capital Wealth Advisors, LLC$4M
- BlackRock, Inc.$2M
- Envestnet Portfolio Solutions, Inc.$896K
- COMERICA BANK$564K
Largest adds
- UBS Group AG$54M
- UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC$12M
- LPL Financial LLC$5M
- AE Wealth Management LLC$1M
- GUIDANCE CAPITAL, INC$1M
- ARVEST INVESTMENTS, INC.$1M
Largest trims
- Prepared Retirement Institute LLC$12M
- BANK OF AMERICA CORP /DE/$7M
- SYON CAPITAL LLC$5M
- TIAA TRUST, NATIONAL ASSOCIATION$3M
- MORGAN STANLEY$3M
- Krilogy Financial LLC$3M
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 |
|---|---|---|---|---|
| UBS Group AG added | 1,657,049 | $81M | 19.6% | 2026-Q1 |
| SYON CAPITAL LLC trimmed | 527,656 | $26M | 6.2% | 2026-Q1 |
| AE Wealth Management LLC added | 523,579 | $26M | 6.2% | 2026-Q1 |
| LPL Financial LLC added | 521,012 | $25M | 6.2% | 2026-Q1 |
| ARVEST INVESTMENTS, INC. added | 465,122 | $23M | 5.5% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 307,513 | $15M | 3.6% | 2026-Q1 |
| HANCOCK WHITNEY CORP added | 287,723 | $14M | 3.4% | 2026-Q1 |
| MORGAN STANLEY trimmed | 246,959 | $12M | 2.9% | 2026-Q1 |
| CENTRAL BANK & TRUST CO added | 193,075 | $9M | 2.3% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 188,474 | $9M | 2.2% | 2026-Q1 |
| PRUDENTIAL PLC trimmed | 179,528 | $9M | 2.1% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 172,966 | $8M | 2.0% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 161,478 | $8M | 1.9% | 2026-Q1 |
| Cetera Investment Advisers added | 153,411 | $7M | 1.8% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 112,689 | $5M | 1.3% | 2026-Q1 |
| SCHMIDT P J INVESTMENT MANAGEMENT INC trimmed | 95,881 | $5M | 1.1% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 93,994 | $5M | 1.1% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 79,859 | $4M | 0.9% | 2026-Q1 |
| Krilogy Financial LLC trimmed | 72,165 | $4M | 0.9% | 2026-Q1 |
| SYKON CAPITAL LLC trimmed | 72,009 | $4M | 0.9% | 2026-Q1 |
| Insight Wealth Partners, LLC added | 70,853 | $3M | 0.8% | 2026-Q1 |
| Ocean Park Asset Management, LLC | 63,286 | $3M | 0.7% | 2026-Q1 |
| Pathstone Holdings, LLC trimmed | 62,277 | $3M | 0.7% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 62,185 | $3M | 0.7% | 2026-Q1 |
| TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC new | 61,903 | $3M | 0.7% | 2026-Q1 |
| FRANKLIN RESOURCES INC added | 51,654 | $3M | 0.6% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 47,684 | $2M | 0.6% | 2026-Q1 |
| Beacon Pointe Advisors, LLC new | 41,523 | $2M | 0.5% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 39,740 | $2M | 0.5% | 2026-Q1 |
| GUIDANCE CAPITAL, INC added | 35,231 | $2M | 0.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 33,650 | $2M | 0.4% | 2026-Q1 |
| Ethos Capital Management, Inc. trimmed | 29,066 | $1M | 0.3% | 2026-Q1 |
| FIRST TRUST ADVISORS LP trimmed | 28,453 | $1M | 0.3% | 2026-Q1 |
| Rosenberg Matthew Hamilton added | 27,434 | $1M | 0.3% | 2026-Q1 |
| Palogic Value Management, L.P. | 27,382 | $1M | 0.3% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 27,257 | $1M | 0.3% | 2026-Q1 |
| Heck Capital Advisors, LLC added | 23,691 | $1M | 0.3% | 2026-Q1 |
| GUGGENHEIM CAPITAL LLC trimmed | 20,957 | $1M | 0.2% | 2026-Q1 |
| Maia Wealth LLC added | 20,174 | $983K | 0.2% | 2026-Q1 |
| FLOW TRADERS U.S. LLC trimmed | 18,371 | $895K | 0.2% | 2026-Q1 |
| Willis Johnson & Associates, Inc. trimmed | 18,057 | $880K | 0.2% | 2026-Q1 |
| Arete Wealth Advisors, LLC trimmed | 16,260 | $793K | 0.2% | 2026-Q1 |
| Advisory Alpha, LLC trimmed | 15,546 | $758K | 0.2% | 2026-Q1 |
| Cogent Private Wealth, Inc. | 14,152 | $690K | 0.2% | 2026-Q1 |
| MMA ASSET MANAGEMENT LLC added | 12,846 | $626K | 0.2% | 2026-Q1 |
| &PARTNERS trimmed | 12,779 | $623K | 0.2% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 12,522 | $610K | 0.1% | 2026-Q1 |
| TOUNJIAN ADVISORY PARTNERS, LLC trimmed | 12,186 | $594K | 0.1% | 2026-Q1 |
| Bank of New York Mellon Corp added | 10,746 | $524K | 0.1% | 2026-Q1 |
| City Center Advisors, LLC added | 10,167 | $495K | 0.1% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 9,567 | $466K | 0.1% | 2026-Q1 |
| Visionary Wealth Advisors trimmed | 9,485 | $462K | 0.1% | 2026-Q1 |
| Columbus Macro, LLC trimmed | 9,147 | $446K | 0.1% | 2026-Q1 |
| Hyundai Investments Co., Ltd. trimmed | 8,824 | $431K | 0.1% | 2026-Q1 |
| Elevated Capital Advisors, LLC trimmed | 7,933 | $387K | 0.1% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 7,053 | $344K | 0.1% | 2026-Q1 |
| Ridgewood Investments LLC trimmed | 6,907 | $337K | 0.1% | 2026-Q1 |
| Wealthcare Advisory Partners LLC trimmed | 6,271 | $306K | 0.1% | 2026-Q1 |
| Kestra Advisory Services, LLC trimmed | 6,038 | $294K | 0.1% | 2026-Q1 |
| IFP Advisors, Inc added | 5,528 | $269K | 0.1% | 2026-Q1 |
| TRUIST FINANCIAL CORP trimmed | 4,897 | $239K | 0.1% | 2026-Q1 |
| Quantinno Capital Management LP trimmed | 4,519 | $220K | 0.1% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 3,510 | $171K | 0.0% | 2026-Q1 |
| MAI Capital Management | 2,900 | $141K | 0.0% | 2026-Q1 |
| HORIZON FINANCIAL SERVICES, LLC trimmed | 2,385 | $116K | 0.0% | 2026-Q1 |
| ST GERMAIN D J CO INC | 1,613 | $79K | 0.0% | 2026-Q1 |
| TIAA TRUST, NATIONAL ASSOCIATION trimmed | 1,549 | $75K | 0.0% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 1,487 | $72K | 0.0% | 2026-Q1 |
| FMR LLC added | 1,122 | $55K | 0.0% | 2026-Q1 |
| GUARDIAN WEALTH ADVISORS, LLC / NC new | 993 | $48K | 0.0% | 2026-Q1 |
| Aptus Capital Advisors, LLC | 993 | $48K | 0.0% | 2026-Q1 |
| Wagner Wealth Management, LLC added | 911 | $44K | 0.0% | 2026-Q1 |
| PRIVATE TRUST CO NA | 848 | $41K | 0.0% | 2026-Q1 |
| Ashton Thomas Private Wealth, LLC added | 825 | $40K | 0.0% | 2026-Q1 |
| Capital Analysts, LLC | 677 | $33K | 0.0% | 2026-Q1 |
| Decker Retirement Planning Inc. | 601 | $29K | 0.0% | 2026-Q1 |
| Geneos Wealth Management Inc. added | 543 | $26K | 0.0% | 2026-Q1 |
| State of New Jersey Common Pension Fund D | 521,932 | $26M | 6.2% | 2025-Q3 stale |
| Systelligence, LLC added | 330,156 | $16M | 3.9% | 2025-Q3 stale |
| HighTower Advisors, LLC added | 112,740 | $5M | 1.3% | 2025-Q2 stale |
| U.S. Capital Wealth Advisors, LLC added | 79,107 | $4M | 0.9% | 2025-Q4 stale |
| AVANTAX ADVISORY SERVICES, INC. added | 47,079 | $2M | 0.6% | 2025-Q2 stale |
| BlackRock, Inc. | 40,625 | $2M | 0.5% | 2025-Q4 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 26,716 | $1M | 0.3% | 2025-Q2 stale |
| Goldstone Financial Group, LLC trimmed | 21,420 | $1M | 0.2% | 2025-Q1 stale |
| Envestnet Portfolio Solutions, Inc. added | 18,249 | $896K | 0.2% | 2025-Q4 stale |
| COMMUNITY TRUST & INVESTMENT CO new | 16,322 | $795K | 0.2% | 2025-Q2 stale |
| Coppell Advisory Solutions LLC added | 28,408 | $655K | 0.2% | 2025-Q1 stale |
| OLD MISSION CAPITAL LLC added | 12,098 | $594K | 0.1% | 2025-Q3 stale |
| COMERICA BANK trimmed | 11,496 | $564K | 0.1% | 2025-Q4 stale |
| Mach-1 Financial Group, LLC added | 8,338 | $409K | 0.1% | 2025-Q4 stale |
| Tidal Investments LLC trimmed | 8,270 | $405K | 0.1% | 2025-Q3 stale |
| GREAT VALLEY ADVISOR GROUP, INC. added | 6,499 | $319K | 0.1% | 2025-Q4 stale |
| NWAM LLC added | 5,365 | $264K | 0.1% | 2025-Q3 stale |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC new | 5,000 | $246K | 0.1% | 2025-Q4 stale |
| DARK FOREST CAPITAL MANAGEMENT LP | 4,884 | $240K | 0.1% | 2025-Q3 stale |
| CENTAURUS FINANCIAL, INC. | 2,094 | $103K | 0.0% | 2025-Q3 stale |
| Tortoise Investment Management, LLC trimmed | 1,667 | $82K | 0.0% | 2025-Q3 stale |
| MidAtlantic Capital Management, Inc. trimmed | 849 | $42K | 0.0% | 2025-Q4 stale |
| BOYD WATTERSON ASSET MANAGEMENT LLC/OH new | 580 | $28K | 0.0% | 2025-Q1 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.