Who owns DSL
Which tracked institutional funds hold DSL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See DSL 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
14 tracked funds added or opened DSL while 27 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
DSL’s largest tracked holder by dollar value, McGowan Group Asset Management, Inc., sizes it at 4.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 4.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in DSL 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 176 tracked filers holding DSL, 80 increased or opened the position and 80 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 DSL 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 1
- Pathstone Holdings, LLC$1M
Full exits 5
- Balyasny Asset Management L.P.$5M
- READYSTATE ASSET MANAGEMENT LP$4M
- LANDSCAPE CAPITAL MANAGEMENT, L.L.C.$2M
- Marex Group plc$2M
- Cerity Partners LLC$579K
Largest adds
- Penserra Capital Management LLC$15M
- BANK OF AMERICA CORP /DE/$12M
- WELLS FARGO & COMPANY/MN$2M
- Ascentis Independent Advisors$2M
- RAYMOND JAMES FINANCIAL INC$1M
- GUGGENHEIM CAPITAL LLC$1M
Largest trims
- Logan Stone Capital, LLC$10M
- RIVERNORTH CAPITAL MANAGEMENT, LLC$7M
- MORGAN STANLEY$6M
- NewEdge Advisors, LLC$2M
- UBS Group AG$2M
- JANE STREET GROUP, LLC$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 |
|---|---|---|---|---|
| McGowan Group Asset Management, Inc. added | 2,915,465 | $32M | 9.8% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 2,647,484 | $29M | 8.9% | 2026-Q1 |
| MORGAN STANLEY trimmed | 2,319,032 | $25M | 7.8% | 2026-Q1 |
| Penserra Capital Management LLC added | 2,019,225 | $22M | 6.8% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 1,615,318 | $17M | 5.4% | 2026-Q1 |
| Invesco Ltd. trimmed | 1,079,452 | $12M | 3.6% | 2026-Q1 |
| UBS Group AG trimmed | 947,345 | $10M | 3.2% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 933,058 | $10M | 3.1% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 889,340 | $10M | 3.0% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 758,010 | $8M | 2.6% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 665,547 | $7M | 2.2% | 2026-Q1 |
| LPL Financial LLC added | 576,916 | $6M | 1.9% | 2026-Q1 |
| 1607 Capital Partners, LLC added | 557,025 | $6M | 1.9% | 2026-Q1 |
| GUGGENHEIM CAPITAL LLC added | 543,390 | $6M | 1.8% | 2026-Q1 |
| D.A. DAVIDSON & CO. added | 467,588 | $5M | 1.6% | 2026-Q1 |
| Intellectus Partners, LLC added | 461,897 | $5M | 1.6% | 2026-Q1 |
| COHEN & STEERS, INC. added | 428,993 | $5M | 1.4% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 415,436 | $4M | 1.4% | 2026-Q1 |
| Shaker Financial Services, LLC trimmed | 383,952 | $4M | 1.3% | 2026-Q1 |
| Ascentis Independent Advisors added | 334,023 | $4M | 1.1% | 2026-Q1 |
| INDEPENDENT FINANCIAL GROUP, LLC trimmed | 323,951 | $4M | 1.1% | 2026-Q1 |
| STIFEL FINANCIAL CORP trimmed | 320,053 | $3M | 1.1% | 2026-Q1 |
| Trinity Legacy Partners, LLC added | 282,346 | $3M | 1.0% | 2026-Q1 |
| Parallel Advisors, LLC added | 254,851 | $3M | 0.9% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 246,674 | $3M | 0.8% | 2026-Q1 |
| Stratos Wealth Advisors, LLC added | 240,389 | $3M | 0.8% | 2026-Q1 |
| Journey Advisory Group, LLC added | 231,541 | $3M | 0.8% | 2026-Q1 |
| M Holdings Securities, Inc. added | 208,145 | $2M | 0.7% | 2026-Q1 |
| Strategic Wealth Partners, Ltd. trimmed | 197,329 | $2M | 0.7% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 153,662 | $2M | 0.5% | 2026-Q1 |
| RIVERNORTH CAPITAL MANAGEMENT, LLC trimmed | 148,258 | $2M | 0.5% | 2026-Q1 |
| Concurrent Investment Advisors, LLC added | 139,939 | $2M | 0.5% | 2026-Q1 |
| Activest Wealth Management added | 133,372 | $1M | 0.4% | 2026-Q1 |
| SCHWARZ DYGOS WHEELER INVESTMENT ADVISORS LLC added | 128,199 | $1M | 0.4% | 2026-Q1 |
| Wealthcare Advisory Partners LLC added | 119,650 | $1M | 0.4% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 118,573 | $1M | 0.4% | 2026-Q1 |
| Private Advisor Group, LLC trimmed | 118,464 | $1M | 0.4% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 117,645 | $1M | 0.4% | 2026-Q1 |
| Pathstone Holdings, LLC new | 114,725 | $1M | 0.4% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 106,707 | $1M | 0.4% | 2026-Q1 |
| PARAGON CAPITAL MANAGEMENT INC trimmed | 105,486 | $1M | 0.4% | 2026-Q1 |
| MATRIX PRIVATE CAPITAL GROUP LLC trimmed | 99,623 | $1M | 0.3% | 2026-Q1 |
| Sovran Advisors, LLC added | 94,590 | $1M | 0.3% | 2026-Q1 |
| WEDBUSH SECURITIES INC added | 91,446 | $990K | 0.3% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 89,691 | $971K | 0.3% | 2026-Q1 |
| Rareview Capital LLC trimmed | 76,095 | $931K | 0.3% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 79,272 | $859K | 0.3% | 2026-Q1 |
| Baird Financial Group, Inc. added | 75,119 | $814K | 0.3% | 2026-Q1 |
| XTX Topco Ltd added | 73,156 | $792K | 0.2% | 2026-Q1 |
| Equitable Holdings, Inc. added | 67,391 | $749K | 0.2% | 2026-Q1 |
| &PARTNERS trimmed | 66,880 | $724K | 0.2% | 2026-Q1 |
| Left Brain Wealth Management, LLC added | 64,318 | $697K | 0.2% | 2026-Q1 |
| SIT INVESTMENT ASSOCIATES INC trimmed | 64,067 | $694K | 0.2% | 2026-Q1 |
| GHE, LLC trimmed | 1,003 | $634K | 0.2% | 2026-Q1 |
| Ramiah Investment Group trimmed | 57,552 | $623K | 0.2% | 2026-Q1 |
| OPPENHEIMER & CO INC added | 55,981 | $606K | 0.2% | 2026-Q1 |
| Calamos Advisors LLC added | 55,135 | $597K | 0.2% | 2026-Q1 |
| FOSTER & MOTLEY INC trimmed | 55,162 | $597K | 0.2% | 2026-Q1 |
| Fort Sheridan Advisors LLC added | 54,752 | $593K | 0.2% | 2026-Q1 |
| EVOKE WEALTH, LLC trimmed | 53,724 | $582K | 0.2% | 2026-Q1 |
| HORIZON KINETICS ASSET MANAGEMENT LLC added | 53,462 | $579K | 0.2% | 2026-Q1 |
| NBC SECURITIES, INC. added | 52,401 | $568K | 0.2% | 2026-Q1 |
| Peregrine Asset Advisers, Inc. trimmed | 50,420 | $546K | 0.2% | 2026-Q1 |
| Cypress Capital Group | 49,895 | $540K | 0.2% | 2026-Q1 |
| Maridea Wealth Management LLC added | 49,255 | $533K | 0.2% | 2026-Q1 |
| Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors trimmed | 48,721 | $528K | 0.2% | 2026-Q1 |
| E&G Advisors, LP trimmed | 47,800 | $518K | 0.2% | 2026-Q1 |
| PIN OAK INVESTMENT ADVISORS INC | 44,240 | $479K | 0.1% | 2026-Q1 |
| MGO ONE SEVEN LLC trimmed | 42,948 | $465K | 0.1% | 2026-Q1 |
| Kovack Advisors, Inc. added | 42,924 | $465K | 0.1% | 2026-Q1 |
| HOLLENCREST CAPITAL MANAGEMENT added | 39,415 | $427K | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 39,363 | $426K | 0.1% | 2026-Q1 |
| EASTERLY INVESTMENT PARTNERS LLC | 38,427 | $416K | 0.1% | 2026-Q1 |
| Logan Stone Capital, LLC trimmed | 38,354 | $415K | 0.1% | 2026-Q1 |
| Sequent Planning LLC trimmed | 37,540 | $407K | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 36,712 | $398K | 0.1% | 2026-Q1 |
| WALLED LAKE PLANNING & WEALTH MANAGEMENT, LLC trimmed | 35,833 | $388K | 0.1% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 34,361 | $372K | 0.1% | 2026-Q1 |
| Triumph Capital Management added | 33,898 | $367K | 0.1% | 2026-Q1 |
| Approach Retirement Advisors, LLC added | 33,724 | $365K | 0.1% | 2026-Q1 |
| United Advisor Group, LLC | 31,642 | $343K | 0.1% | 2026-Q1 |
| Mariner, LLC trimmed | 31,002 | $336K | 0.1% | 2026-Q1 |
| Balyasny Asset Management L.P. added | 416,584 | $5M | 1.5% | 2025-Q4 stale |
| READYSTATE ASSET MANAGEMENT LP added | 338,485 | $4M | 1.2% | 2025-Q4 stale |
| LeConte Wealth Management, LLC trimmed | 237,396 | $3M | 0.9% | 2025-Q2 stale |
| EVERGREEN CAPITAL MANAGEMENT LLC trimmed | 204,141 | $3M | 0.8% | 2025-Q1 stale |
| Thrivent Financial for Lutherans added | 177,762 | $2M | 0.7% | 2025-Q2 stale |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. added | 184,336 | $2M | 0.6% | 2025-Q4 stale |
| Marex Group plc added | 146,066 | $2M | 0.5% | 2025-Q4 stale |
| Herold Advisors, Inc. new | 114,950 | $1M | 0.4% | 2025-Q2 stale |
| Summit X, LLC trimmed | 102,730 | $1M | 0.4% | 2025-Q2 stale |
| Consolidated Portfolio Review Corp trimmed | 89,889 | $1M | 0.3% | 2025-Q3 stale |
| Fiera Capital Corp trimmed | 83,264 | $1M | 0.3% | 2025-Q2 stale |
| Hennion & Walsh Asset Management, Inc. trimmed | 70,368 | $887K | 0.3% | 2025-Q1 stale |
| Atria Wealth Solutions, Inc. added | 70,692 | $865K | 0.3% | 2025-Q2 stale |
| Cerity Partners LLC | 51,400 | $579K | 0.2% | 2025-Q4 stale |
| Elequin Capital, LP new | 39,816 | $487K | 0.2% | 2025-Q2 stale |
| Granite Investment Partners, LLC added | 33,979 | $417K | 0.1% | 2025-Q3 stale |
| Concorde Asset Management, LLC added | 33,200 | $374K | 0.1% | 2025-Q4 stale |
| Arcus Capital Partners, LLC trimmed | 31,372 | $354K | 0.1% | 2025-Q4 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.