Who owns DFNL
Which tracked institutional funds hold DFNL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See DFNL 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
17 tracked funds added or opened DFNL while 7 trimmed or exited it between 2026-Q1 and 2026-Q2 — 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
DFNL’s largest tracked holder by dollar value, DAVIS SELECTED ADVISERS, sizes it at 0.5% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in DFNL 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 59 tracked filers holding DFNL, 26 increased or opened the position and 29 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 DFNL 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 1
- Beacon Harbor Wealth Advisors, Inc.$15M
Full exits 5
- Thrivent Financial for Lutherans$64M
- HighTower Advisors, LLC$6M
- Willow Financial LLC$5M
- CITADEL ADVISORS LLC$3M
- Janney Montgomery Scott LLC$1M
Largest adds
- DAVIS SELECTED ADVISERS$10M
- BANK OF AMERICA CORP /DE/$9M
- MORGAN STANLEY$3M
- UBS Group AG$1M
- ROYAL BANK OF CANADA$720K
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$713K
Largest trims
- JANE STREET GROUP, LLC$3M
- RAYMOND JAMES FINANCIAL INC$1M
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 |
|---|---|---|---|---|
| DAVIS SELECTED ADVISERS | 2,130,666 | $105M | 29.2% | 2026-Q2 |
| MORGAN STANLEY trimmed | 831,587 | $41M | 11.4% | 2026-Q2 |
| LPL Financial LLC trimmed | 386,789 | $19M | 5.3% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 372,733 | $18M | 5.1% | 2026-Q2 |
| Beacon Harbor Wealth Advisors, Inc. new | 292,783 | $15M | 4.2% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 140,912 | $7M | 1.9% | 2026-Q2 |
| TRUIST FINANCIAL CORP added | 139,337 | $7M | 1.9% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 133,317 | $7M | 1.8% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 129,929 | $6M | 1.8% | 2026-Q2 |
| UBS Group AG added | 109,992 | $5M | 1.5% | 2026-Q2 |
| Sanctuary Advisors, LLC trimmed | 87,892 | $4M | 1.2% | 2026-Q2 |
| Next Level Private LLC trimmed | 80,971 | $4M | 1.1% | 2026-Q2 |
| D.A. DAVIDSON & CO. trimmed | 75,878 | $4M | 1.0% | 2026-Q2 |
| ARKANSAS FINANCIAL GROUP, INC. added | 69,802 | $3M | 1.0% | 2026-Q2 |
| Inspire Advisors, LLC added | 65,059 | $3M | 0.9% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 51,947 | $3M | 0.7% | 2026-Q2 |
| Kestra Advisory Services, LLC added | 47,344 | $2M | 0.6% | 2026-Q2 |
| JANE STREET GROUP, LLC trimmed | 47,313 | $2M | 0.6% | 2026-Q2 |
| Hilltop Holdings Inc. added | 31,482 | $2M | 0.4% | 2026-Q2 |
| Envestnet Portfolio Solutions, Inc. added | 28,323 | $1M | 0.4% | 2026-Q2 |
| OSAIC HOLDINGS, INC. trimmed | 27,765 | $1M | 0.4% | 2026-Q2 |
| SUMMIT WEALTH GROUP LLC / CO trimmed | 22,615 | $1M | 0.3% | 2026-Q2 |
| SITTNER & NELSON, LLC added | 22,233 | $1M | 0.3% | 2026-Q2 |
| Geneos Wealth Management Inc. trimmed | 20,865 | $1M | 0.3% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 20,546 | $1M | 0.3% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 20,234 | $999K | 0.3% | 2026-Q2 |
| J.W. COLE ADVISORS, INC. trimmed | 19,054 | $941K | 0.3% | 2026-Q2 |
| Prospera Financial Services Inc added | 17,923 | $885K | 0.2% | 2026-Q2 |
| Atlas Wealth LLC | 16,847 | $832K | 0.2% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 15,580 | $769K | 0.2% | 2026-Q2 |
| DAVENPORT & Co LLC added | 15,522 | $766K | 0.2% | 2026-Q2 |
| Rockefeller Capital Management L.P. added | 14,110 | $697K | 0.2% | 2026-Q2 |
| Melone Private Wealth, LLC trimmed | 11,225 | $554K | 0.2% | 2026-Q2 |
| Strategic Wealth Investment Group, LLC added | 11,125 | $549K | 0.2% | 2026-Q2 |
| Kovack Advisors, Inc. trimmed | 9,418 | $465K | 0.1% | 2026-Q2 |
| CAPTRUST FINANCIAL ADVISORS | 8,075 | $399K | 0.1% | 2026-Q2 |
| Modern Wealth Management, LLC | 7,308 | $361K | 0.1% | 2026-Q2 |
| Private Advisor Group, LLC added | 6,926 | $342K | 0.1% | 2026-Q2 |
| Ameritas Advisory Services, LLC trimmed | 6,380 | $315K | 0.1% | 2026-Q2 |
| FLAGSHIP HARBOR ADVISORS, LLC | 6,119 | $302K | 0.1% | 2026-Q2 |
| Carson Advisory Inc. | 5,500 | $272K | 0.1% | 2026-Q2 |
| Diligent Investors, LLC | 5,446 | $269K | 0.1% | 2026-Q2 |
| FORESIGHT CAPITAL MANAGEMENT ADVISORS, INC. added | 5,164 | $255K | 0.1% | 2026-Q2 |
| DAYMARK WEALTH PARTNERS, LLC new | 4,942 | $244K | 0.1% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV trimmed | 4,664 | $230K | 0.1% | 2026-Q2 |
| Millstone Evans Group, LLC | 3,300 | $163K | 0.0% | 2026-Q2 |
| Regatta Research & Money Management new | 2,853 | $141K | 0.0% | 2026-Q2 |
| Key Financial Inc | 2,497 | $123K | 0.0% | 2026-Q2 |
| Capital Investment Advisory Services, LLC | 1,577 | $78K | 0.0% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 969 | $48K | 0.0% | 2026-Q2 |
| FIFTH THIRD BANCORP | 866 | $43K | 0.0% | 2026-Q2 |
| Allworth Financial LP | 715 | $35K | 0.0% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC trimmed | 623 | $31K | 0.0% | 2026-Q2 |
| PNC Financial Services Group, Inc. | 349 | $17K | 0.0% | 2026-Q2 |
| IFG Advisory, LLC new | 272 | $13K | 0.0% | 2026-Q2 |
| Decker Retirement Planning Inc. new | 259 | $13K | 0.0% | 2026-Q2 |
| Central Pacific Bank - Trust Division | 80 | $4K | 0.0% | 2026-Q2 |
| FLAGSHIP WEALTH ADVISORS, LLC new | 20 | $987 | 0.0% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 1 | $46 | 0.0% | 2026-Q2 |
| Thrivent Financial for Lutherans added | 1,424,747 | $64M | 17.7% | 2026-Q1 stale (1 quarter behind) |
| HighTower Advisors, LLC trimmed | 126,867 | $6M | 1.6% | 2026-Q1 stale (1 quarter behind) |
| Willow Financial LLC new | 117,411 | $5M | 1.5% | 2026-Q1 stale (1 quarter behind) |
| CITADEL ADVISORS LLC added | 70,604 | $3M | 0.9% | 2026-Q1 stale (1 quarter behind) |
| Janney Montgomery Scott LLC added | 24,972 | $1M | 0.3% | 2026-Q1 stale (1 quarter behind) |
| &PARTNERS new | 4,813 | $216K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| CWM, LLC added | 1,770 | $79K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Coston, McIsaac & Partners added | 448 | $20K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Western Wealth Management, LLC new | 192 | $9K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| FMR LLC | 37 | $2K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Axiom Financial Strategies, LLC | 26,368 | $1M | 0.4% | 2025-Q4 stale (2 quarters behind) |
| Perigon Wealth Management, LLC new | 18,044 | $872K | 0.2% | 2025-Q4 stale (2 quarters behind) |
| COMERICA BANK added | 1,280 | $62K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| CIBC Private Wealth Group LLC new | 200 | $10K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| LRI Investments, LLC new | 170 | $8K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Lodestone Wealth Management LLC new | 165 | $8K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| FLOW TRADERS U.S. LLC new | 11,274 | $510K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| GTS SECURITIES LLC trimmed | 4,581 | $207K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| Kathleen S. Wright Associates Inc. | 3,125 | $141K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| Cambridge Investment Research Advisors, Inc. new | 16,174 | $694K | 0.2% | 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.