Who owns DWM
Which tracked institutional funds hold DWM, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See DWM company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-25). 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
21 tracked funds added or opened DWM while 11 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
DWM’s largest tracked holder by dollar value, MORGAN STANLEY, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes DWM more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in DWM 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 129 tracked filers holding DWM, 57 increased or opened the position and 58 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 DWM 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 2
- CITADEL ADVISORS LLC$935K
- MCF Advisors LLC$814K
Full exits 7
- FLOW TRADERS U.S. LLC$7M
- Phillip James Consulting Co.$3M
- Janney Montgomery Scott LLC$2M
- UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC$1M
- Cambridge Investment Research Advisors, Inc.$1M
- HighTower Advisors, LLC$901K
Largest adds
- Falcon Wealth Planning$2M
- UBS Group AG$2M
- WEALTH ENHANCEMENT ADVISORY SERVICES, LLC$1M
- LRI Investments, LLC$1M
- LPL Financial LLC$1M
- Valmark Advisers, Inc.$997K
Largest trims
- WELLS FARGO & COMPANY/MN$2M
- Kestra Advisory Services, LLC$2M
- Cetera Investment Advisers$780K
- TopTier Wealth Management, LLC$306K
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 |
|---|---|---|---|---|
| MORGAN STANLEY trimmed | 915,784 | $67M | 17.2% | 2026-Q2 |
| LPL Financial LLC trimmed | 469,903 | $34M | 8.8% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 388,008 | $28M | 7.3% | 2026-Q2 |
| LRI Investments, LLC trimmed | 386,413 | $28M | 7.2% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 375,486 | $27M | 7.0% | 2026-Q2 |
| Valmark Advisers, Inc. trimmed | 309,102 | $23M | 5.8% | 2026-Q2 |
| UBS Group AG added | 232,150 | $17M | 4.4% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 216,800 | $16M | 4.1% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 111,986 | $8M | 2.1% | 2026-Q2 |
| MOLLER WEALTH PARTNERS trimmed | 97,736 | $7M | 1.8% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 91,854 | $7M | 1.7% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 89,203 | $7M | 1.7% | 2026-Q2 |
| Kestra Advisory Services, LLC trimmed | 82,122 | $6M | 1.5% | 2026-Q2 |
| NewSquare Capital LLC added | 79,206 | $6M | 1.5% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC added | 74,145 | $5M | 1.4% | 2026-Q2 |
| Cetera Investment Advisers trimmed | 69,779 | $5M | 1.3% | 2026-Q2 |
| JFS WEALTH ADVISORS, LLC trimmed | 63,202 | $5M | 1.2% | 2026-Q2 |
| Key Financial Inc trimmed | 62,725 | $5M | 1.2% | 2026-Q2 |
| Merit Financial Group, LLC added | 59,906 | $4M | 1.1% | 2026-Q2 |
| Smallwood Wealth Investment Management, LLC added | 59,018 | $4M | 1.1% | 2026-Q2 |
| CIBC WORLD MARKET INC. added | 58,714 | $4M | 1.1% | 2026-Q2 |
| MISSION WEALTH MANAGEMENT, LP added | 57,154 | $4M | 1.1% | 2026-Q2 |
| HBK Sorce Advisory LLC | 52,749 | $4M | 1.0% | 2026-Q2 |
| Falcon Wealth Planning added | 40,548 | $3M | 0.8% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 40,093 | $3M | 0.8% | 2026-Q2 |
| TOBIAS FINANCIAL ADVISORS, INC. trimmed | 38,077 | $3M | 0.7% | 2026-Q2 |
| Envision Financial LLC trimmed | 35,344 | $3M | 0.7% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 32,880 | $2M | 0.6% | 2026-Q2 |
| FERGUSON WELLMAN CAPITAL MANAGEMENT, INC trimmed | 29,001 | $2M | 0.5% | 2026-Q2 |
| Geneos Wealth Management Inc. added | 27,968 | $2M | 0.5% | 2026-Q2 |
| Creative Planning added | 27,456 | $2M | 0.5% | 2026-Q2 |
| COURIER CAPITAL LLC added | 27,091 | $2M | 0.5% | 2026-Q2 |
| Shakespeare Wealth Management, LLC trimmed | 26,612 | $2M | 0.5% | 2026-Q2 |
| TopTier Wealth Management, LLC trimmed | 26,593 | $2M | 0.5% | 2026-Q2 |
| &PARTNERS added | 24,727 | $2M | 0.5% | 2026-Q2 |
| PLIMOTH TRUST CO LLC trimmed | 24,571 | $2M | 0.5% | 2026-Q2 |
| Stratos Wealth Advisors, LLC trimmed | 21,038 | $2M | 0.4% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 19,742 | $1M | 0.4% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 17,934 | $1M | 0.3% | 2026-Q2 |
| Focus Partners Wealth trimmed | 16,934 | $1M | 0.3% | 2026-Q2 |
| Frazier Financial Advisors, LLC trimmed | 16,754 | $1M | 0.3% | 2026-Q2 |
| Pinnacle Wealth Planning Services, Inc. trimmed | 15,793 | $1M | 0.3% | 2026-Q2 |
| Kondo Wealth Advisors, Inc. trimmed | 15,412 | $1M | 0.3% | 2026-Q2 |
| ProVise Management Group, LLC | 14,692 | $1M | 0.3% | 2026-Q2 |
| OneAscent Financial Services LLC added | 13,935 | $1M | 0.3% | 2026-Q2 |
| Octavia Wealth Advisors, LLC trimmed | 13,616 | $997K | 0.3% | 2026-Q2 |
| DAVENPORT & Co LLC trimmed | 13,308 | $974K | 0.2% | 2026-Q2 |
| Intrua Financial, LLC added | 12,771 | $935K | 0.2% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 12,771 | $935K | 0.2% | 2026-Q2 |
| Thrive Capital Management, LLC added | 12,348 | $904K | 0.2% | 2026-Q2 |
| FIFTH THIRD BANCORP trimmed | 11,952 | $875K | 0.2% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 11,929 | $868K | 0.2% | 2026-Q2 |
| Modera Wealth Management, LLC | 11,879 | $870K | 0.2% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 11,866 | $869K | 0.2% | 2026-Q2 |
| MCF Advisors LLC new | 11,119 | $814K | 0.2% | 2026-Q2 |
| Brightwater Advisory LLC trimmed | 10,814 | $792K | 0.2% | 2026-Q2 |
| Robertson Stephens Wealth Management, LLC trimmed | 10,520 | $770K | 0.2% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC | 9,405 | $689K | 0.2% | 2026-Q2 |
| Kingsview Wealth Management, LLC added | 9,229 | $676K | 0.2% | 2026-Q2 |
| OARSMAN CAPITAL, INC. trimmed | 8,887 | $651K | 0.2% | 2026-Q2 |
| Beacon Pointe Advisors, LLC | 8,800 | $644K | 0.2% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 8,682 | $632K | 0.2% | 2026-Q2 |
| Rockefeller Capital Management L.P. added | 8,513 | $623K | 0.2% | 2026-Q2 |
| Arax Advisory Partners added | 7,076 | $518K | 0.1% | 2026-Q2 |
| LAUREL OAK WEALTH MANAGEMENT, LLC added | 7,072 | $518K | 0.1% | 2026-Q2 |
| Allen Capital Group, LLC | 6,868 | $503K | 0.1% | 2026-Q2 |
| CAPE ANN SAVINGS BANK | 6,794 | $497K | 0.1% | 2026-Q2 |
| BEACON FINANCIAL GROUP trimmed | 6,677 | $489K | 0.1% | 2026-Q2 |
| PNC Financial Services Group, Inc. | 6,450 | $472K | 0.1% | 2026-Q2 |
| New World Advisors LLC added | 6,352 | $465K | 0.1% | 2026-Q2 |
| INSPIRION WEALTH ADVISORS, LLC added | 6,344 | $464K | 0.1% | 2026-Q2 |
| KESTRA PRIVATE WEALTH SERVICES, LLC trimmed | 6,026 | $441K | 0.1% | 2026-Q2 |
| Private Advisor Group, LLC added | 5,985 | $438K | 0.1% | 2026-Q2 |
| Pinnacle Financial Group, LLC / IL added | 5,981 | $438K | 0.1% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 5,797 | $424K | 0.1% | 2026-Q2 |
| TCV Trust & Wealth Management, Inc. | 5,783 | $423K | 0.1% | 2026-Q2 |
| Waverly Advisors, LLC | 5,711 | $418K | 0.1% | 2026-Q2 |
| NewEdge Advisors, LLC added | 5,639 | $413K | 0.1% | 2026-Q2 |
| HOWARD WEALTH MANAGEMENT, LLC | 5,615 | $411K | 0.1% | 2026-Q2 |
| Global Retirement Partners, LLC added | 5,358 | $392K | 0.1% | 2026-Q2 |
| Arlington Financial Advisors, LLC trimmed | 4,587 | $336K | 0.1% | 2026-Q2 |
| McNamara Financial Services, Inc. trimmed | 4,499 | $329K | 0.1% | 2026-Q2 |
| Rockbridge Investment Management, LCC trimmed | 4,416 | $323K | 0.1% | 2026-Q2 |
| New Perspectives, Inc | 4,175 | $306K | 0.1% | 2026-Q2 |
| VALLEY NATIONAL ADVISERS INC | 4,014 | $294K | 0.1% | 2026-Q2 |
| REGIMEN WEALTH, LLC added | 4,002 | $293K | 0.1% | 2026-Q2 |
| CAHILL FINANCIAL ADVISORS INC added | 3,939 | $288K | 0.1% | 2026-Q2 |
| Sanctuary Advisors, LLC added | 3,875 | $284K | 0.1% | 2026-Q2 |
| CULBERTSON A N & CO INC | 3,695 | $271K | 0.1% | 2026-Q2 |
| ROTHSCHILD INVESTMENT LLC added | 3,491 | $256K | 0.1% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 3,263 | $239K | 0.1% | 2026-Q2 |
| Pathstone Holdings, LLC | 3,225 | $236K | 0.1% | 2026-Q2 |
| Vise Technologies, Inc. new | 3,215 | $235K | 0.1% | 2026-Q2 |
| 4WEALTH ADVISORS, INC. trimmed | 3,069 | $223K | 0.1% | 2026-Q2 |
| FMR LLC added | 2,966 | $217K | 0.1% | 2026-Q2 |
| CITIGROUP INC trimmed | 2,930 | $215K | 0.1% | 2026-Q2 |
| Hickory Point Bank & Trust | 2,266 | $166K | 0.0% | 2026-Q2 |
| BLAIR WILLIAM & CO/IL added | 2,109 | $154K | 0.0% | 2026-Q2 |
| Viewpoint Capital Management LLC trimmed | 2,100 | $154K | 0.0% | 2026-Q2 |
| Independence Bank of Kentucky trimmed | 2,080 | $152K | 0.0% | 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.