Who owns DAO
Which tracked institutional funds hold DAO, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See DAO company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-17). 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
The tracked-fund tape on DAO is one-sided between 2026-Q1 and 2026-Q2: 6 added or opened and 2 trimmed or exited — on balance accumulating.
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
DAO’s largest tracked holder by dollar value, Orbis Allan Gray Ltd, sizes it at 0.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in DAO 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 2026-Q1 and 2026-Q2, across 31 tracked filers holding DAO, 12 increased or opened the position and 15 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 DAO between the 2026-Q1 and 2026-Q2 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.
Full exits 2
- ACADIAN ASSET MANAGEMENT LLC$3M
- GSA CAPITAL PARTNERS LLP$678K
Largest adds
- Orbis Allan Gray Ltd$14M
- NetEase, Inc.$7M
- VANGUARD CAPITAL MANAGEMENT LLC$2M
- VANGUARD FIDUCIARY TRUST CO$523K
- Connor, Clark & Lunn Investment Management Ltd.$376K
- UBS Group AG$267K
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 |
|---|---|---|---|---|
| Orbis Allan Gray Ltd trimmed | 6,563,497 | $81M | 52.9% | 2026-Q2 |
| NetEase, Inc. | 2,898,293 | $36M | 23.4% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 840,158 | $10M | 6.8% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO | 211,666 | $3M | 1.7% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 211,199 | $3M | 1.7% | 2026-Q2 |
| UBS Group AG added | 65,644 | $807K | 0.5% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 59,247 | $729K | 0.5% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 58,600 | $721K | 0.5% | 2026-Q2 |
| Qube Research & Technologies Ltd trimmed | 46,477 | $572K | 0.4% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 36,047 | $443K | 0.3% | 2026-Q2 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO trimmed | 28,104 | $346K | 0.2% | 2026-Q2 |
| Invesco Ltd. trimmed | 23,744 | $292K | 0.2% | 2026-Q2 |
| Savant Capital, LLC new | 13,572 | $150K | 0.1% | 2026-Q2 |
| MORGAN STANLEY trimmed | 6,883 | $85K | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd | 3,843 | $47K | 0.0% | 2026-Q2 |
| Tower Research Capital LLC (TRC) added | 2,957 | $36K | 0.0% | 2026-Q2 |
| Compagnie Lombard Odier SCmA | 2,000 | $25K | 0.0% | 2026-Q2 |
| RHUMBLINE ADVISERS | 1,219 | $15K | 0.0% | 2026-Q2 |
| GROUP ONE TRADING LLC trimmed | 986 | $12K | 0.0% | 2026-Q2 |
| Rockefeller Capital Management L.P. new | 809 | $10K | 0.0% | 2026-Q2 |
| Smartleaf Asset Management LLC | 509 | $6K | 0.0% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 230 | $3K | 0.0% | 2026-Q2 |
| Quarry LP new | 215 | $3K | 0.0% | 2026-Q2 |
| NISA INVESTMENT ADVISORS, LLC added | 73 | $898 | 0.0% | 2026-Q2 |
| CoreCap Advisors, LLC | 61 | $750 | 0.0% | 2026-Q2 |
| HARBOUR INVESTMENTS, INC. | 50 | $615 | 0.0% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 43 | $529 | 0.0% | 2026-Q2 |
| Stone House Investment Management, LLC | 42 | $517 | 0.0% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN new | 10 | $123 | 0.0% | 2026-Q2 |
| Ameritas Advisory Services, LLC | 7 | $86 | 0.0% | 2026-Q2 |
| Integrated Wealth Concepts LLC new | 4 | $49 | 0.0% | 2026-Q2 |
| ACADIAN ASSET MANAGEMENT LLC trimmed | 295,624 | $3M | 1.9% | 2026-Q1 stale (1 quarter behind) |
| GSA CAPITAL PARTNERS LLP trimmed | 68,942 | $678K | 0.4% | 2026-Q1 stale (1 quarter behind) |
| MARSHALL WACE, LLP trimmed | 27,533 | $271K | 0.2% | 2026-Q1 stale (1 quarter behind) |
| Vident Advisory, LLC trimmed | 10,069 | $99K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| EverSource Wealth Advisors, LLC added | 1,751 | $67K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| CWM, LLC new | 23 | $226 | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Blue Trust, Inc. trimmed | 22 | $216 | 0.0% | 2026-Q1 stale (1 quarter behind) |
| VANGUARD GROUP INC added | 1,040,574 | $10M | 6.9% | 2025-Q4 stale (2 quarters behind) |
| BANK OF AMERICA CORP /DE/ added | 6,352 | $64K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Mirae Asset Global Investments Co., Ltd. | 2,535 | $26K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| NewEdge Advisors, LLC added | 576 | $6K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO new | 87 | $877 | 0.0% | 2025-Q4 stale (2 quarters behind) |
| PNC Financial Services Group, Inc. trimmed | 2 | $20 | 0.0% | 2025-Q4 stale (2 quarters behind) |
| SBI Securities Co., Ltd. trimmed | 1 | $10 | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Walleye Capital LLC trimmed | 48,452 | $482K | 0.3% | 2025-Q3 stale (3 quarters behind) |
| NORGES BANK | 96,600 | $401K | 0.3% | 2025-Q3 stale (3 quarters behind) |
| Tidal Investments LLC trimmed | 29,434 | $293K | 0.2% | 2025-Q3 stale (3 quarters behind) |
| GOLDMAN SACHS GROUP INC added | 11,968 | $119K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| SIMPLEX TRADING, LLC added | 2,758 | $27K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| CITIGROUP INC added | 2,697 | $27K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 26,241 | $226K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| JANE STREET GROUP, LLC added | 19,158 | $165K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale (4 quarters behind) |
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.