Who owns 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-Q2 13F filings (latest filed 2026-08-19). 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 DFAC is one-sided between 2026-Q1 and 2026-Q2: 604 added or opened and 79 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
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 12.5% of theirs — a 8.5pp 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 2026-Q1 and 2026-Q2, across 1177 tracked filers holding DFAC, 564 increased or opened the position and 441 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 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.
New buyers 35
- Evanson Financial, LLC$176M
- TWO SIGMA INVESTMENTS, LP$49M
- Platform Wealth Management, LLC$49M
- Schulz Wealth, LTD.$42M
- BEACON HILL WEALTH MANAGEMENT LTD.$31M
- Diversify Advisory Services, LLC$19M
Full exits 49
- HighTower Advisors, LLC$211M
- Evanson Asset Management, LLC$155M
- PARK AVENUE SECURITIES LLC$150M
- von Borstel & Associates, Inc.$137M
- Betterment LLC$133M
- Warburton Capital Management, LLC$83M
Largest adds
- MERCER GLOBAL ADVISORS INC /ADV$516M
- Forum Financial Management, LP$245M
- Focus Partners Wealth$209M
- ASSETMARK, INC$161M
- LPL Financial LLC$142M
- Integrated Wealth Concepts LLC$123M
Largest trims
- Plancorp, LLC$69M
- Mariner, LLC$14M
- Allworth Financial LP$13M
- EverSource Wealth Advisors, LLC$5M
- Balance Wealth Partners LLC$4M
- L2 Asset Management, LLC$3M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| MERCER GLOBAL ADVISORS INC /ADV added | 73,219,086 | $3.2B | 12.2% | 2026-Q2 |
| Forum Financial Management, LP added | 42,594,541 | $1.9B | 7.1% | 2026-Q2 |
| Focus Partners Wealth trimmed | 42,128,827 | $1.9B | 7.0% | 2026-Q2 |
| LPL Financial LLC added | 18,533,056 | $822M | 3.1% | 2026-Q2 |
| Focus Partners Advisor Solutions, LLC trimmed | 17,607,276 | $781M | 2.9% | 2026-Q2 |
| Apella Capital, LLC added | 16,110,656 | $713M | 2.7% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 13,812,388 | $613M | 2.3% | 2026-Q2 |
| Savant Capital, LLC added | 13,605,470 | $604M | 2.3% | 2026-Q2 |
| Greenspring Advisors, LLC trimmed | 12,639,119 | $561M | 2.1% | 2026-Q2 |
| Rockwood Wealth Management, LLC added | 12,338,697 | $547M | 2.1% | 2026-Q2 |
| SJS Investment Consulting Inc. added | 9,377,832 | $416M | 1.6% | 2026-Q2 |
| Geometric Wealth Advisors added | 9,054,523 | $402M | 1.5% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 8,368,847 | $371M | 1.4% | 2026-Q2 |
| Plancorp, LLC trimmed | 7,886,805 | $350M | 1.3% | 2026-Q2 |
| Wealthspire Advisors, LLC added | 7,548,752 | $335M | 1.3% | 2026-Q2 |
| MONOGRAPH WEALTH ADVISORS, LLC added | 7,065,425 | $313M | 1.2% | 2026-Q2 |
| Symmetry Partners, LLC added | 6,707,000 | $298M | 1.1% | 2026-Q2 |
| Allworth Financial LP trimmed | 6,464,130 | $287M | 1.1% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 5,948,676 | $264M | 1.0% | 2026-Q2 |
| Beacon Pointe Advisors, LLC trimmed | 5,886,102 | $261M | 1.0% | 2026-Q2 |
| TFO Wealth Partners, LLC added | 5,711,324 | $253M | 1.0% | 2026-Q2 |
| ASSETMARK, INC added | 5,633,519 | $250M | 0.9% | 2026-Q2 |
| Capstone Financial Advisors, Inc. trimmed | 5,543,948 | $246M | 0.9% | 2026-Q2 |
| Integrated Wealth Concepts LLC added | 5,536,589 | $246M | 0.9% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 5,381,782 | $239M | 0.9% | 2026-Q2 |
| AWM CAPITAL, LLC added | 5,181,625 | $230M | 0.9% | 2026-Q2 |
| Vestmark Advisory Solutions, Inc. added | 5,042,328 | $224M | 0.8% | 2026-Q2 |
| JACKSON THORNTON WEALTH MANAGEMENT, LLC added | 4,929,596 | $219M | 0.8% | 2026-Q2 |
| GeoWealth Management, LLC trimmed | 4,893,413 | $217M | 0.8% | 2026-Q2 |
| Modera Wealth Management, LLC trimmed | 4,811,065 | $213M | 0.8% | 2026-Q2 |
| JFS WEALTH ADVISORS, LLC added | 4,515,601 | $200M | 0.8% | 2026-Q2 |
| Baird Financial Group, Inc. added | 4,466,378 | $198M | 0.7% | 2026-Q2 |
| Asset Dedication, LLC added | 4,464,536 | $198M | 0.7% | 2026-Q2 |
| Cerity Partners LLC trimmed | 4,429,007 | $196M | 0.7% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 4,319,715 | $192M | 0.7% | 2026-Q2 |
| Stratos Investment Management, LLC added | 4,248,964 | $188M | 0.7% | 2026-Q2 |
| OneDigital Investment Advisors LLC added | 4,246,503 | $188M | 0.7% | 2026-Q2 |
| Pure Financial Advisors, LLC trimmed | 4,103,209 | $182M | 0.7% | 2026-Q2 |
| DecisionPoint Financial, LLC added | 4,061,339 | $180M | 0.7% | 2026-Q2 |
| Austin Asset Management Co Inc trimmed | 4,009,061 | $178M | 0.7% | 2026-Q2 |
| Evanson Financial, LLC new | 3,978,431 | $176M | 0.7% | 2026-Q2 |
| Burton Enright Welch added | 3,976,632 | $176M | 0.7% | 2026-Q2 |
| Corient Private Wealth LP trimmed | 3,959,212 | $176M | 0.7% | 2026-Q2 |
| Rockbridge Investment Management, LCC added | 3,841,280 | $170M | 0.6% | 2026-Q2 |
| McGlone Suttner Wealth Management, Inc. added | 3,821,991 | $170M | 0.6% | 2026-Q2 |
| Onyx Financial Advisors, LLC added | 3,784,124 | $168M | 0.6% | 2026-Q2 |
| Triune Financial Partners, LLC added | 3,775,213 | $167M | 0.6% | 2026-Q2 |
| United Wealth Management, LLC added | 3,775,121 | $167M | 0.6% | 2026-Q2 |
| CARDIFF PARK ADVISORS, LLC trimmed | 3,762,389 | $167M | 0.6% | 2026-Q2 |
| Financial Plan, Inc. added | 3,704,312 | $164M | 0.6% | 2026-Q2 |
| Integrity Advisory Solutions, LLC added | 3,311,006 | $147M | 0.6% | 2026-Q2 |
| Mariner, LLC trimmed | 3,300,037 | $146M | 0.6% | 2026-Q2 |
| Catalyst Capital Advisors LLC trimmed | 3,297,718 | $146M | 0.5% | 2026-Q2 |
| Millburn Ridgefield LLC /DE/ trimmed | 3,297,718 | $146M | 0.5% | 2026-Q2 |
| Financial Engines Advisors L.L.C. added | 3,264,547 | $145M | 0.5% | 2026-Q2 |
| Zhang Financial LLC trimmed | 3,238,499 | $144M | 0.5% | 2026-Q2 |
| Syverson Strege & Co added | 3,196,733 | $142M | 0.5% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 3,171,700 | $141M | 0.5% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 3,088,455 | $137M | 0.5% | 2026-Q2 |
| Conrad Siegel Investment Advisors, Inc. trimmed | 3,066,960 | $136M | 0.5% | 2026-Q2 |
| BCU Wealth Advisors, LLC trimmed | 3,033,037 | $135M | 0.5% | 2026-Q2 |
| Private Advisor Group, LLC added | 3,018,667 | $134M | 0.5% | 2026-Q2 |
| Core Wealth Management, Inc. trimmed | 2,990,705 | $133M | 0.5% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 2,984,095 | $132M | 0.5% | 2026-Q2 |
| Altiora Financial Group, LLC trimmed | 2,886,811 | $128M | 0.5% | 2026-Q2 |
| BetterWealth, LLC added | 2,837,675 | $126M | 0.5% | 2026-Q2 |
| Creative Planning added | 2,760,133 | $122M | 0.5% | 2026-Q2 |
| C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors trimmed | 2,739,886 | $122M | 0.5% | 2026-Q2 |
| RAM Investment Partners, LLC trimmed | 2,710,018 | $120M | 0.5% | 2026-Q2 |
| Eaton-Cambridge Inc. added | 2,605,730 | $116M | 0.4% | 2026-Q2 |
| Discipline Wealth Solutions, LLC added | 2,591,864 | $115M | 0.4% | 2026-Q2 |
| HFM Investment Advisors, LLC trimmed | 2,582,339 | $115M | 0.4% | 2026-Q2 |
| New Capital Management LP added | 2,570,196 | $114M | 0.4% | 2026-Q2 |
| Warwick Investment Management, Inc. trimmed | 2,547,034 | $113M | 0.4% | 2026-Q2 |
| Kestra Advisory Services, LLC added | 2,542,798 | $113M | 0.4% | 2026-Q2 |
| ARK & TLK INVESTMENTS, LLC added | 2,512,144 | $111M | 0.4% | 2026-Q2 |
| INTEGRITY ALLIANCE, LLC. trimmed | 2,459,442 | $109M | 0.4% | 2026-Q2 |
| KEB ASSET MANAGEMENT, LLC added | 2,393,443 | $106M | 0.4% | 2026-Q2 |
| TCI Wealth Advisors, Inc. added | 2,382,827 | $106M | 0.4% | 2026-Q2 |
| Prudent Man Investment Management, Inc. trimmed | 2,373,152 | $94M | 0.4% | 2026-Q2 |
| Parkshore Wealth Management, Inc. added | 2,373,136 | $105M | 0.4% | 2026-Q2 |
| Henrickson Nauta Wealth Advisors, Inc. added | 2,367,747 | $105M | 0.4% | 2026-Q2 |
| MASECO LLP added | 2,365,428 | $105M | 0.4% | 2026-Q2 |
| Meridian Wealth Partners, LLC trimmed | 2,351,350 | $104M | 0.4% | 2026-Q2 |
| LRI Investments, LLC trimmed | 2,298,403 | $102M | 0.4% | 2026-Q2 |
| Heritage Investment Group, Inc. added | 2,294,074 | $102M | 0.4% | 2026-Q2 |
| Ruedi Wealth Management, Inc. added | 2,293,774 | $102M | 0.4% | 2026-Q2 |
| NewEdge Advisors, LLC added | 2,291,061 | $102M | 0.4% | 2026-Q2 |
| SC&H Financial Advisors, Inc. added | 2,228,328 | $99M | 0.4% | 2026-Q2 |
| Sensible Money, LLC added | 2,221,756 | $99M | 0.4% | 2026-Q2 |
| ShankerValleau Wealth Advisors, Inc. trimmed | 2,197,279 | $97M | 0.4% | 2026-Q2 |
| Verisail Partners, LLC trimmed | 2,176,870 | $97M | 0.4% | 2026-Q2 |
| Monument Group Wealth Advisors, LLC added | 2,159,082 | $96M | 0.4% | 2026-Q2 |
| Porter White Investment Advisors, Inc. trimmed | 2,100,973 | $93M | 0.4% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 2,045,963 | $90M | 0.3% | 2026-Q2 |
| VANCE WEALTH, LLC added | 2,006,543 | $89M | 0.3% | 2026-Q2 |
| MASTER'S WEALTH MANAGEMENT INC. added | 1,981,550 | $88M | 0.3% | 2026-Q2 |
| BRIGHTON JONES LLC added | 1,970,881 | $87M | 0.3% | 2026-Q2 |
| Safeguard Investment Advisory Group, LLC trimmed | 1,926,531 | $85M | 0.3% | 2026-Q2 |
| Mattern Wealth Management LLC added | 1,895,431 | $84M | 0.3% | 2026-Q2 |
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.