Who owns DFAC (DFAC)
Which tracked institutional funds hold DFAC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See DFAC company fundamentals →
Ownership as of the 2026-Q1 13F filings. 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
250 tracked funds added or opened DFAC while 244 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
DFAC’s largest tracked holder by dollar value, MERCER GLOBAL ADVISORS INC /ADV, sizes it at 4.0% of its own reported 13F book, while the median holder sizes it at 12.1% of theirs — a 8.0pp gap the other way — the median holder sizes DFAC more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in DFAC 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 1160 tracked filers holding DFAC, 574 increased or opened the position and 427 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 DFAC 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 42
- WNY Asset Management, LLC$62M
- UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC$43M
- CSP Financial Group, LLC$34M
- TRB Wealth Management, LLC$33M
- AA Financial Advisors, LLC$29M
- 3 FACTOR INDEXING, LLC$21M
Full exits 37
- Heritage Financial Services, LLC$179M
- COMERICA BANK$63M
- Grunden Financial Advisory, Inc.$55M
- Platform Wealth Management, LLC$41M
- Schulz Wealth, LTD.$36M
- AXXCESS WEALTH MANAGEMENT, LLC$33M
Largest adds
- MERCER GLOBAL ADVISORS INC /ADV$184M
- Savant Capital, LLC$164M
- Apella Capital, LLC$111M
- Allworth Financial LP$63M
- Focus Partners Advisor Solutions, LLC$62M
- FIFTH THIRD BANCORP$62M
Largest trims
- NewEdge Advisors, LLC$91M
- Henrickson Nauta Wealth Advisors, Inc.$87M
- WEALTH ENHANCEMENT ADVISORY SERVICES, LLC$59M
- OSAIC HOLDINGS, INC.$55M
- IFG Advisory, LLC$37M
- Focus Partners Wealth$31M
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 |
|---|---|---|---|---|
| MERCER GLOBAL ADVISORS INC /ADV added | 70,292,321 | $2.7B | 11.7% | 2026-Q1 |
| Focus Partners Wealth trimmed | 42,584,120 | $1.7B | 7.1% | 2026-Q1 |
| Forum Financial Management, LP added | 42,328,643 | $1.6B | 7.0% | 2026-Q1 |
| Focus Partners Advisor Solutions, LLC added | 17,846,261 | $693M | 3.0% | 2026-Q1 |
| LPL Financial LLC trimmed | 17,506,918 | $680M | 2.9% | 2026-Q1 |
| Apella Capital, LLC added | 15,724,523 | $662M | 2.8% | 2026-Q1 |
| Greenspring Advisors, LLC added | 13,364,540 | $519M | 2.2% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 13,259,708 | $515M | 2.2% | 2026-Q1 |
| Savant Capital, LLC added | 12,388,275 | $481M | 2.1% | 2026-Q1 |
| Rockwood Wealth Management, LLC added | 12,077,663 | $469M | 2.0% | 2026-Q1 |
| Plancorp, LLC trimmed | 10,336,005 | $419M | 1.8% | 2026-Q1 |
| SJS Investment Consulting Inc. added | 9,231,772 | $359M | 1.5% | 2026-Q1 |
| Geometric Wealth Advisors added | 8,696,860 | $338M | 1.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 8,337,551 | $324M | 1.4% | 2026-Q1 |
| Allworth Financial LP added | 7,709,244 | $300M | 1.3% | 2026-Q1 |
| Wealthspire Advisors, LLC trimmed | 7,504,975 | $292M | 1.2% | 2026-Q1 |
| MONOGRAPH WEALTH ADVISORS, LLC added | 6,838,156 | $266M | 1.1% | 2026-Q1 |
| Symmetry Partners, LLC added | 6,694,957 | $260M | 1.1% | 2026-Q1 |
| Beacon Pointe Advisors, LLC trimmed | 5,901,121 | $229M | 1.0% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 5,870,993 | $228M | 1.0% | 2026-Q1 |
| Capstone Financial Advisors, Inc. added | 5,546,947 | $216M | 0.9% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 5,433,706 | $211M | 0.9% | 2026-Q1 |
| JACKSON THORNTON WEALTH MANAGEMENT, LLC added | 4,902,914 | $199M | 0.8% | 2026-Q1 |
| Vestmark Advisory Solutions, Inc. added | 5,037,164 | $196M | 0.8% | 2026-Q1 |
| GeoWealth Management, LLC added | 4,952,425 | $192M | 0.8% | 2026-Q1 |
| AWM CAPITAL, LLC added | 4,851,503 | $189M | 0.8% | 2026-Q1 |
| Modera Wealth Management, LLC trimmed | 4,831,430 | $188M | 0.8% | 2026-Q1 |
| TFO Wealth Partners, LLC added | 4,664,603 | $181M | 0.8% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 4,611,433 | $179M | 0.8% | 2026-Q1 |
| Cerity Partners LLC added | 4,461,856 | $173M | 0.7% | 2026-Q1 |
| Asset Dedication, LLC added | 4,457,997 | $173M | 0.7% | 2026-Q1 |
| Baird Financial Group, Inc. trimmed | 4,414,037 | $172M | 0.7% | 2026-Q1 |
| Corient Private Wealth LLC trimmed | 4,205,759 | $163M | 0.7% | 2026-Q1 |
| Pure Financial Advisors, LLC trimmed | 4,186,049 | $163M | 0.7% | 2026-Q1 |
| Stratos Investment Management, LLC added | 4,182,010 | $163M | 0.7% | 2026-Q1 |
| Mariner, LLC added | 4,117,890 | $160M | 0.7% | 2026-Q1 |
| JFS WEALTH ADVISORS, LLC added | 4,046,394 | $157M | 0.7% | 2026-Q1 |
| Austin Asset Management Co Inc added | 4,042,822 | $157M | 0.7% | 2026-Q1 |
| OneDigital Investment Advisors LLC added | 4,033,269 | $157M | 0.7% | 2026-Q1 |
| Evanson Asset Management, LLC trimmed | 3,991,743 | $155M | 0.7% | 2026-Q1 |
| PARK AVENUE SECURITIES LLC added | 3,851,225 | $150M | 0.6% | 2026-Q1 |
| CARDIFF PARK ADVISORS, LLC trimmed | 3,835,945 | $149M | 0.6% | 2026-Q1 |
| Rockbridge Investment Management, LCC added | 3,814,103 | $148M | 0.6% | 2026-Q1 |
| DecisionPoint Financial, LLC added | 3,791,506 | $147M | 0.6% | 2026-Q1 |
| McGlone Suttner Wealth Management, Inc. added | 3,783,233 | $147M | 0.6% | 2026-Q1 |
| United Wealth Management, LLC added | 3,762,717 | $146M | 0.6% | 2026-Q1 |
| Burton Enright Welch added | 3,744,102 | $145M | 0.6% | 2026-Q1 |
| Triune Financial Partners, LLC added | 3,684,951 | $143M | 0.6% | 2026-Q1 |
| Onyx Financial Advisors, LLC added | 3,676,377 | $143M | 0.6% | 2026-Q1 |
| Financial Plan, Inc. added | 3,536,742 | $137M | 0.6% | 2026-Q1 |
| von Borstel & Associates, Inc. added | 3,515,498 | $137M | 0.6% | 2026-Q1 |
| Betterment LLC added | 3,427,113 | $133M | 0.6% | 2026-Q1 |
| Catalyst Capital Advisors LLC added | 3,324,162 | $129M | 0.6% | 2026-Q1 |
| Millburn Ridgefield LLC /DE/ added | 3,324,162 | $129M | 0.6% | 2026-Q1 |
| Zhang Financial LLC trimmed | 3,263,205 | $127M | 0.5% | 2026-Q1 |
| Syverson Strege & Co trimmed | 3,181,539 | $124M | 0.5% | 2026-Q1 |
| Integrated Wealth Concepts LLC added | 3,142,236 | $122M | 0.5% | 2026-Q1 |
| Financial Engines Advisors L.L.C. added | 3,108,602 | $121M | 0.5% | 2026-Q1 |
| Conrad Siegel Investment Advisors, Inc. added | 3,082,266 | $120M | 0.5% | 2026-Q1 |
| BCU Wealth Advisors, LLC added | 3,058,573 | $119M | 0.5% | 2026-Q1 |
| Core Wealth Management, Inc. added | 3,054,577 | $119M | 0.5% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 3,019,065 | $117M | 0.5% | 2026-Q1 |
| Integrity Advisory Solutions, LLC added | 3,018,682 | $117M | 0.5% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 2,983,695 | $117M | 0.5% | 2026-Q1 |
| Altiora Financial Group, LLC trimmed | 2,890,247 | $112M | 0.5% | 2026-Q1 |
| C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors added | 2,858,739 | $111M | 0.5% | 2026-Q1 |
| Private Advisor Group, LLC added | 2,851,717 | $111M | 0.5% | 2026-Q1 |
| BetterWealth, LLC added | 2,830,509 | $110M | 0.5% | 2026-Q1 |
| Creative Planning added | 2,760,059 | $107M | 0.5% | 2026-Q1 |
| RAM Investment Partners, LLC added | 2,739,860 | $106M | 0.5% | 2026-Q1 |
| HFM Investment Advisors, LLC added | 2,620,847 | $102M | 0.4% | 2026-Q1 |
| Warwick Investment Management, Inc. trimmed | 2,599,253 | $101M | 0.4% | 2026-Q1 |
| Eaton-Cambridge Inc. added | 2,595,688 | $101M | 0.4% | 2026-Q1 |
| New Capital Management LP trimmed | 2,557,586 | $99M | 0.4% | 2026-Q1 |
| INTEGRITY ALLIANCE, LLC. added | 2,493,127 | $97M | 0.4% | 2026-Q1 |
| ARK & TLK INVESTMENTS, LLC added | 2,469,701 | $96M | 0.4% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 2,462,633 | $96M | 0.4% | 2026-Q1 |
| Porter White Investment Advisors, Inc. added | 2,439,644 | $95M | 0.4% | 2026-Q1 |
| Prudent Man Investment Management, Inc. trimmed | 2,382,749 | $94M | 0.4% | 2026-Q1 |
| Meridian Wealth Partners, LLC trimmed | 2,380,620 | $93M | 0.4% | 2026-Q1 |
| TCI Wealth Advisors, Inc. added | 2,362,453 | $92M | 0.4% | 2026-Q1 |
| Discipline Wealth Solutions, LLC added | 2,333,696 | $91M | 0.4% | 2026-Q1 |
| LRI Investments, LLC trimmed | 2,310,836 | $90M | 0.4% | 2026-Q1 |
| Henrickson Nauta Wealth Advisors, Inc. trimmed | 2,299,117 | $89M | 0.4% | 2026-Q1 |
| Ruedi Wealth Management, Inc. trimmed | 2,290,135 | $89M | 0.4% | 2026-Q1 |
| ASSETMARK, INC added | 2,289,602 | $89M | 0.4% | 2026-Q1 |
| Heritage Investment Group, Inc. trimmed | 2,274,675 | $88M | 0.4% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 2,271,718 | $88M | 0.4% | 2026-Q1 |
| ShankerValleau Wealth Advisors, Inc. added | 2,261,881 | $88M | 0.4% | 2026-Q1 |
| Parkshore Wealth Management, Inc. added | 2,255,255 | $88M | 0.4% | 2026-Q1 |
| Sensible Money, LLC added | 2,210,467 | $86M | 0.4% | 2026-Q1 |
| Verisail Partners, LLC added | 2,190,338 | $85M | 0.4% | 2026-Q1 |
| KEB ASSET MANAGEMENT, LLC added | 2,189,130 | $85M | 0.4% | 2026-Q1 |
| SC&H Financial Advisors, Inc. added | 2,184,097 | $85M | 0.4% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC added | 2,175,911 | $85M | 0.4% | 2026-Q1 |
| Warburton Capital Management, LLC trimmed | 2,031,981 | $83M | 0.4% | 2026-Q1 |
| MASECO LLP added | 2,112,163 | $82M | 0.4% | 2026-Q1 |
| Wealthstream Advisors, Inc. added | 5,084,210 | $196M | 0.8% | 2025-Q3 stale |
| Heritage Financial Services, LLC trimmed | 4,520,404 | $179M | 0.8% | 2025-Q4 stale |
| Waypoint Wealth Partners Inc. added | 2,444,459 | $88M | 0.4% | 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.