Who owns DFEB
Which tracked institutional funds hold DFEB, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See DFEB 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
23 tracked funds added or opened DFEB while 14 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
DFEB’s largest tracked holder by dollar value, Advance Capital Management, Inc., sizes it at 0.8% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.7pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in DFEB 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 142 tracked filers holding DFEB, 64 increased or opened the position and 63 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 DFEB 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 8
- Advance Capital Management, Inc.$20M
- Gerber Kawasaki Wealth & Investment Management$2M
- MGO ONE SEVEN LLC$2M
- Keystone Wealth Services, LLC$2M
- CASCADE INVESTMENT GROUP, INC.$821K
- DIVERSIFY WEALTH MANAGEMENT, LLC$589K
Full exits 5
- OLD MISSION CAPITAL LLC$2M
- KESTRA PRIVATE WEALTH SERVICES, LLC$930K
- IMC-Chicago, LLC$798K
- Global Assets Advisory, LLC$699K
- Diversify Advisory Services, LLC$573K
Largest adds
- Horizon Investments, LLC$4M
- Cetera Investment Advisers$3M
- CWM, LLC$2M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$1M
- HighTower Advisors, LLC$943K
- LPL Financial LLC$891K
Largest trims
- PRECEDENT WEALTH PARTNERS, LLC$2M
- Spire Wealth Management$2M
- RAYMOND JAMES FINANCIAL INC$1M
- COMMONWEALTH EQUITY SERVICES, LLC$1M
- Comprehensive Financial Consultants Institutional, Inc.$839K
- Camelot Portfolios, LLC$477K
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 |
|---|---|---|---|---|
| Advance Capital Management, Inc. new | 423,102 | $20M | 9.3% | 2026-Q1 |
| Cetera Investment Advisers added | 223,714 | $11M | 4.9% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 173,988 | $8M | 3.8% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 169,766 | $8M | 3.7% | 2026-Q1 |
| CWM, LLC added | 163,558 | $8M | 3.6% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 154,179 | $7M | 3.4% | 2026-Q1 |
| Spectrum Asset Management, Inc. (NB/CA) added | 144,016 | $7M | 3.2% | 2026-Q1 |
| Horizon Investments, LLC added | 134,722 | $6M | 3.0% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 130,008 | $6M | 2.9% | 2026-Q1 |
| UPTICK PARTNERS, LLC trimmed | 110,512 | $5M | 2.4% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 92,388 | $4M | 2.0% | 2026-Q1 |
| Janney Montgomery Scott LLC trimmed | 86,848 | $4M | 1.9% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 86,721 | $4M | 1.9% | 2026-Q1 |
| LPL Financial LLC added | 84,739 | $4M | 1.9% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. added | 82,086 | $4M | 1.8% | 2026-Q1 |
| BEACON FINANCIAL GROUP trimmed | 76,934 | $4M | 1.7% | 2026-Q1 |
| FOUNDERS FINANCIAL SECURITIES LLC added | 69,723 | $3M | 1.6% | 2026-Q1 |
| LifeWealth Investments, LLC trimmed | 65,363 | $3M | 1.4% | 2026-Q1 |
| Sunbelt Securities, Inc. trimmed | 64,889 | $3M | 1.4% | 2026-Q1 |
| Integrated Wealth Concepts LLC | 59,846 | $3M | 1.3% | 2026-Q1 |
| REAP Financial Group, LLC trimmed | 55,407 | $3M | 1.2% | 2026-Q1 |
| Tanglewood Legacy Advisors, LLC added | 53,209 | $3M | 1.2% | 2026-Q1 |
| SMART Wealth LLC trimmed | 50,360 | $2M | 1.1% | 2026-Q1 |
| Mutual Advisors, LLC added | 44,471 | $2M | 1.0% | 2026-Q1 |
| Mariner, LLC trimmed | 42,514 | $2M | 0.9% | 2026-Q1 |
| Gerber Kawasaki Wealth & Investment Management trimmed | 40,255 | $2M | 0.9% | 2026-Q1 |
| PRECEDENT WEALTH PARTNERS, LLC trimmed | 40,190 | $2M | 0.9% | 2026-Q1 |
| MGO ONE SEVEN LLC new | 38,207 | $2M | 0.8% | 2026-Q1 |
| Wood Tarver Financial Group, LLC added | 37,369 | $2M | 0.8% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC added | 36,560 | $2M | 0.8% | 2026-Q1 |
| Ignite Planners, LLC added | 35,923 | $2M | 0.8% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 35,859 | $2M | 0.8% | 2026-Q1 |
| TRUIST FINANCIAL CORP added | 34,743 | $2M | 0.8% | 2026-Q1 |
| Keystone Wealth Services, LLC added | 32,166 | $2M | 0.7% | 2026-Q1 |
| Camelot Portfolios, LLC trimmed | 31,043 | $1M | 0.7% | 2026-Q1 |
| HighTower Advisors, LLC added | 28,444 | $1M | 0.6% | 2026-Q1 |
| Kovack Advisors, Inc. added | 25,133 | $1M | 0.6% | 2026-Q1 |
| Integrity Financial Corp /WA trimmed | 24,345 | $1M | 0.5% | 2026-Q1 |
| Integrated Advisors Network LLC added | 21,707 | $1M | 0.5% | 2026-Q1 |
| Madrona Financial Services, LLC added | 21,533 | $1M | 0.5% | 2026-Q1 |
| &PARTNERS trimmed | 21,163 | $967K | 0.5% | 2026-Q1 |
| CENTAURUS FINANCIAL, INC. added | 19,630 | $930K | 0.4% | 2026-Q1 |
| MONEY CONCEPTS CAPITAL CORP added | 18,556 | $879K | 0.4% | 2026-Q1 |
| Buck Wealth Strategies, LLC added | 17,714 | $839K | 0.4% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 17,469 | $832K | 0.4% | 2026-Q1 |
| CASCADE INVESTMENT GROUP, INC. new | 17,335 | $821K | 0.4% | 2026-Q1 |
| WEDBUSH SECURITIES INC trimmed | 16,925 | $802K | 0.4% | 2026-Q1 |
| Oder Investment Management, LLC | 16,821 | $797K | 0.4% | 2026-Q1 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | 16,036 | $763K | 0.4% | 2026-Q1 |
| Sun Financial Inc | 14,183 | $712K | 0.3% | 2026-Q1 |
| Ritter Daniher Financial Advisory LLC / DE trimmed | 14,720 | $697K | 0.3% | 2026-Q1 |
| Pinnacle Wealth Planning Services, Inc. | 14,714 | $697K | 0.3% | 2026-Q1 |
| Clear Creek Financial Management, LLC added | 14,489 | $686K | 0.3% | 2026-Q1 |
| StoneX Group Inc. trimmed | 14,349 | $680K | 0.3% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS | 14,200 | $673K | 0.3% | 2026-Q1 |
| C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors | 14,150 | $670K | 0.3% | 2026-Q1 |
| Nova Wealth Management, Inc. added | 14,062 | $666K | 0.3% | 2026-Q1 |
| Crusonia Wealth Advisors LLC added | 13,960 | $661K | 0.3% | 2026-Q1 |
| Lakeridge Wealth Management LLC | 13,926 | $660K | 0.3% | 2026-Q1 |
| Ameritas Advisory Services, LLC | 13,247 | $628K | 0.3% | 2026-Q1 |
| Apollon Wealth Management, LLC added | 13,182 | $624K | 0.3% | 2026-Q1 |
| Farther Finance Advisors, LLC trimmed | 12,742 | $607K | 0.3% | 2026-Q1 |
| INSIGNEO ADVISORY SERVICES, LLC added | 12,719 | $602K | 0.3% | 2026-Q1 |
| Sovereign Financial Group, Inc. | 12,524 | $593K | 0.3% | 2026-Q1 |
| DIVERSIFY WEALTH MANAGEMENT, LLC new | 11,920 | $589K | 0.3% | 2026-Q1 |
| KPP Advisory Services LLC new | 12,244 | $580K | 0.3% | 2026-Q1 |
| Castleview Partners, LLC added | 12,177 | $577K | 0.3% | 2026-Q1 |
| JOURNEY STRATEGIC WEALTH LLC | 11,751 | $557K | 0.3% | 2026-Q1 |
| Focus Partners Advisor Solutions, LLC added | 11,508 | $545K | 0.3% | 2026-Q1 |
| Jaffetilchin Investment Partners, LLC added | 11,447 | $542K | 0.3% | 2026-Q1 |
| RFG Advisory, LLC added | 11,373 | $539K | 0.3% | 2026-Q1 |
| Luken Investment Analytics, LLC | 11,300 | $535K | 0.2% | 2026-Q1 |
| FIRST TRUST ADVISORS LP trimmed | 10,992 | $521K | 0.2% | 2026-Q1 |
| Arkadios Wealth Advisors | 10,947 | $519K | 0.2% | 2026-Q1 |
| Walkner Condon Financial Advisors LLC trimmed | 10,722 | $508K | 0.2% | 2026-Q1 |
| OGOREK ANTHONY JOSEPH /NY/ /ADV added | 10,741 | $499K | 0.2% | 2026-Q1 |
| WealthPlan Investment Management, LLC trimmed | 10,502 | $497K | 0.2% | 2026-Q1 |
| Atria Investments, Inc added | 86,865 | $4M | 1.8% | 2025-Q2 stale |
| Uniting Wealth Partners, LLC new | 74,286 | $3M | 1.5% | 2025-Q1 stale |
| Bison Wealth, LLC trimmed | 52,894 | $2M | 1.1% | 2025-Q2 stale |
| Sage Capital Advisors,llc added | 46,536 | $2M | 1.0% | 2025-Q2 stale |
| HICKORY ASSET MANAGEMENT, INC. trimmed | 45,805 | $2M | 1.0% | 2025-Q2 stale |
| Maia Wealth LLC trimmed | 43,186 | $2M | 0.9% | 2025-Q3 stale |
| AVANTAX ADVISORY SERVICES, INC. trimmed | 44,062 | $2M | 0.9% | 2025-Q2 stale |
| OLD MISSION CAPITAL LLC added | 40,763 | $2M | 0.9% | 2025-Q4 stale |
| KRAEMATON INVESTMENT ADVISORS, INC new | 42,043 | $2M | 0.9% | 2025-Q2 stale |
| B. Riley Wealth Advisors, Inc. trimmed | 36,873 | $2M | 0.8% | 2025-Q3 stale |
| SYNOVUS FINANCIAL CORP added | 32,004 | $1M | 0.7% | 2025-Q3 stale |
| KESTRA PRIVATE WEALTH SERVICES, LLC trimmed | 19,495 | $930K | 0.4% | 2025-Q4 stale |
| Signal Advisors Wealth, LLC trimmed | 19,148 | $855K | 0.4% | 2025-Q2 stale |
| Patriot Financial Group Insurance Agency, LLC added | 18,694 | $835K | 0.4% | 2025-Q2 stale |
| IMC-Chicago, LLC new | 16,715 | $798K | 0.4% | 2025-Q4 stale |
| TOWNSQUARE CAPITAL LLC trimmed | 18,254 | $769K | 0.4% | 2025-Q1 stale |
| Global Assets Advisory, LLC | 14,650 | $699K | 0.3% | 2025-Q4 stale |
| Lunt Capital Management, Inc. | 13,765 | $641K | 0.3% | 2025-Q3 stale |
| SILVER OAK SECURITIES, INCORPORATED | 13,765 | $615K | 0.3% | 2025-Q2 stale |
| Diversify Advisory Services, LLC | 11,920 | $573K | 0.3% | 2025-Q4 stale |
| 1ST SOURCE BANK | 11,496 | $535K | 0.2% | 2025-Q3 stale |
| Envestnet Portfolio Solutions, Inc. added | 11,667 | $492K | 0.2% | 2025-Q1 stale |
| Virtue Capital Management, LLC added | 11,647 | $490K | 0.2% | 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.