Who owns DMAX
Which tracked institutional funds hold DMAX, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See DMAX company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 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 DMAX is one-sided between 2025-Q4 and 2026-Q1: 16 added or opened and 3 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
DMAX’s largest tracked holder by dollar value, BIP Wealth, LLC, sizes it at 0.8% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.8pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in DMAX 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 43 tracked filers holding DMAX, 29 increased or opened the position and 9 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 DMAX 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 11
- J. L. Bainbridge & Co., Inc.$18M
- RAYMOND JAMES FINANCIAL INC$3M
- ASHTON THOMAS SECURITIES, LLC$3M
- Ashton Thomas Private Wealth, LLC$2M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$927K
- OLD MISSION CAPITAL LLC$903K
Full exits 2
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$5M
- MORGAN STANLEY$2M
Largest adds
- ENVESTNET ASSET MANAGEMENT INC$2M
- FC Advisory LLC$1M
- Crewe Advisors LLC$1M
- CITADEL ADVISORS LLC$559K
- Crown Wealth Group, LLC$392K
Largest trims
- BIP Wealth, LLC$2M
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 |
|---|---|---|---|---|
| BIP Wealth, LLC trimmed | 760,919 | $20M | 18.7% | 2026-Q1 |
| J. L. Bainbridge & Co., Inc. new | 682,097 | $18M | 16.8% | 2026-Q1 |
| Crown Wealth Group, LLC added | 498,567 | $13M | 12.3% | 2026-Q1 |
| BlackRock, Inc. | 400,000 | $11M | 9.8% | 2026-Q1 |
| FC Advisory LLC added | 152,995 | $4M | 3.8% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC new | 124,997 | $3M | 3.1% | 2026-Q1 |
| ASHTON THOMAS SECURITIES, LLC new | 98,855 | $3M | 2.4% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 89,705 | $2M | 2.2% | 2026-Q1 |
| Ashton Thomas Private Wealth, LLC new | 77,782 | $2M | 1.9% | 2026-Q1 |
| Crewe Advisors LLC added | 75,690 | $2M | 1.9% | 2026-Q1 |
| Grantvest Financial Group LLC trimmed | 64,126 | $2M | 1.6% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV | 55,025 | $1M | 1.4% | 2026-Q1 |
| Blue Sky Capital Consultants Group, Inc. added | 50,447 | $1M | 1.2% | 2026-Q1 |
| ATX Financial Planning, LLC added | 43,520 | $1M | 1.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 34,890 | $927K | 0.9% | 2026-Q1 |
| OLD MISSION CAPITAL LLC added | 33,969 | $903K | 0.8% | 2026-Q1 |
| Encompass More Asset Management new | 32,206 | $856K | 0.8% | 2026-Q1 |
| Amplius Wealth Advisors, LLC | 29,647 | $788K | 0.7% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 29,567 | $786K | 0.7% | 2026-Q1 |
| Creative Planning | 27,420 | $729K | 0.7% | 2026-Q1 |
| Smith & Howard Wealth Management, LLC new | 23,422 | $622K | 0.6% | 2026-Q1 |
| Cetera Investment Advisers added | 22,768 | $605K | 0.6% | 2026-Q1 |
| CROSSPOINT FINANCIAL, LLC added | 21,683 | $576K | 0.5% | 2026-Q1 |
| Advisory Services Network, LLC added | 20,005 | $532K | 0.5% | 2026-Q1 |
| Ausdal Financial Partners, Inc. new | 19,641 | $522K | 0.5% | 2026-Q1 |
| Strategic Blueprint, LLC trimmed | 17,908 | $476K | 0.4% | 2026-Q1 |
| SAGESPRING WEALTH PARTNERS, LLC new | 16,859 | $448K | 0.4% | 2026-Q1 |
| Lido Advisors, LLC | 16,394 | $436K | 0.4% | 2026-Q1 |
| MIDDLETON & CO INC/MA added | 15,350 | $408K | 0.4% | 2026-Q1 |
| Shared Vision Wealth Group LLC | 14,254 | $379K | 0.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC new | 13,533 | $360K | 0.3% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 11,666 | $310K | 0.3% | 2026-Q1 |
| ARS Investment Partners, LLC | 9,990 | $265K | 0.2% | 2026-Q1 |
| Kovack Advisors, Inc. trimmed | 9,353 | $248K | 0.2% | 2026-Q1 |
| OneDigital Investment Advisors LLC trimmed | 8,613 | $229K | 0.2% | 2026-Q1 |
| Prosperity Consulting Group, LLC | 7,827 | $208K | 0.2% | 2026-Q1 |
| Patriot Financial Group Insurance Agency, LLC new | 7,706 | $205K | 0.2% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 2,345 | $62K | 0.1% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. new | 1,683 | $45K | 0.0% | 2026-Q1 |
| Parallel Advisors, LLC | 600 | $16K | 0.0% | 2026-Q1 |
| UBS Group AG trimmed | 475 | $13K | 0.0% | 2026-Q1 |
| Bernard Wealth Management Corp. | 371 | $10K | 0.0% | 2026-Q1 |
| IFP Advisors, Inc added | 80 | $2K | 0.0% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO new | 56,323 | $5M | 4.3% | 2025-Q4 stale |
| ROYAL BANK OF CANADA new | 80,653 | $2M | 1.9% | 2025-Q1 stale |
| MORGAN STANLEY new | 57,558 | $2M | 1.4% | 2025-Q4 stale |
| KM Capital Management Ltd. | 55,025 | $1M | 1.3% | 2025-Q3 stale |
| High Falls Advisors, Inc added | 14,863 | $396K | 0.4% | 2025-Q4 stale |
| Stuart Chaussee & Associates, Inc. trimmed | 13,950 | $369K | 0.3% | 2025-Q3 stale |
| Kestra Investment Management, LLC trimmed | 12,074 | $322K | 0.3% | 2025-Q4 stale |
| Kestra Advisory Services, LLC added | 10,043 | $265K | 0.2% | 2025-Q3 stale |
| Elwood & Goetz Wealth Advisory Group, LLC trimmed | 8,693 | $232K | 0.2% | 2025-Q4 stale |
| MML INVESTORS SERVICES, LLC new | 7,827 | $202K | 0.2% | 2025-Q2 stale |
| JPMORGAN CHASE & CO new | 7,071 | $176K | 0.2% | 2025-Q1 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 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.