Who owns FAD
Which tracked institutional funds hold FAD, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See FAD company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-26). 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 FAD while 10 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
FAD’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 FAD more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in FAD 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 99 tracked filers holding FAD, 53 increased or opened the position and 33 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 FAD 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 5
- Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors$2M
- MGO ONE SEVEN LLC$2M
- J.W. COLE ADVISORS, INC.$1M
- TrueWealth Advisors, LLC$751K
- Merit Financial Group, LLC$533K
Full exits 4
- Keystone Wealth Services, LLC$7M
- Vantus Wealth LLC$1M
- Virtu Financial LLC$959K
- Private Advisory Group LLC$923K
Largest adds
- LPL Financial LLC$11M
- WELLS FARGO & COMPANY/MN$6M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$4M
- Kestra Advisory Services, LLC$4M
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$3M
- JONES FINANCIAL COMPANIES LLLP$2M
Largest trims
- MORGAN STANLEY$11M
- RAYMOND JAMES FINANCIAL INC$8M
- Janney Montgomery Scott LLC$1M
- OSAIC HOLDINGS, INC.$648K
- RPg Family Wealth Advisory, LLC$320K
- WEDBUSH SECURITIES INC$263K
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 |
|---|---|---|---|---|
| MORGAN STANLEY trimmed | 242,445 | $39M | 13.9% | 2026-Q1 |
| LPL Financial LLC added | 197,933 | $31M | 11.4% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 175,021 | $28M | 10.1% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 93,573 | $15M | 5.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 60,837 | $10M | 3.5% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC | 50,000 | $8M | 2.9% | 2026-Q1 |
| TRUIST FINANCIAL CORP added | 49,292 | $8M | 2.8% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 45,527 | $7M | 2.6% | 2026-Q1 |
| Plotkin Financial Advisors, LLC trimmed | 44,666 | $7M | 2.6% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 41,501 | $7M | 2.4% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 34,241 | $5M | 2.0% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 31,173 | $5M | 1.8% | 2026-Q1 |
| RPg Family Wealth Advisory, LLC trimmed | 30,351 | $5M | 1.7% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 29,636 | $5M | 1.7% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 29,510 | $5M | 1.7% | 2026-Q1 |
| Synergy Investment Management, LLC added | 28,513 | $5M | 1.6% | 2026-Q1 |
| WEDBUSH SECURITIES INC trimmed | 25,030 | $4M | 1.4% | 2026-Q1 |
| Wealth Management Partners, LLC trimmed | 24,907 | $4M | 1.4% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 24,741 | $4M | 1.4% | 2026-Q1 |
| Creative Planning trimmed | 24,351 | $4M | 1.4% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 23,551 | $4M | 1.4% | 2026-Q1 |
| Geneos Wealth Management Inc. added | 23,388 | $4M | 1.3% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 20,998 | $3M | 1.2% | 2026-Q1 |
| UBS Group AG trimmed | 17,692 | $3M | 1.0% | 2026-Q1 |
| Private Advisor Group, LLC added | 14,184 | $2M | 0.8% | 2026-Q1 |
| Cetera Investment Advisers added | 14,060 | $2M | 0.8% | 2026-Q1 |
| Baird Financial Group, Inc. added | 13,910 | $2M | 0.8% | 2026-Q1 |
| WCG Wealth Advisors LLC added | 13,705 | $2M | 0.8% | 2026-Q1 |
| Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors new | 13,629 | $2M | 0.8% | 2026-Q1 |
| MGO ONE SEVEN LLC new | 13,526 | $2M | 0.8% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 13,075 | $2M | 0.8% | 2026-Q1 |
| Proactive Wealth Strategies LLC added | 10,674 | $2M | 0.6% | 2026-Q1 |
| Stonebridge Financial Planning Group, LLC added | 10,528 | $2M | 0.6% | 2026-Q1 |
| Fifth Third Securities, Inc. trimmed | 10,262 | $2M | 0.6% | 2026-Q1 |
| 626 Financial, LLC added | 9,464 | $2M | 0.5% | 2026-Q1 |
| Stonebridge Financial Group, LLC / MO added | 9,402 | $1M | 0.5% | 2026-Q1 |
| J.W. COLE ADVISORS, INC. trimmed | 8,656 | $1M | 0.5% | 2026-Q1 |
| Advyzon Investment Management, LLC added | 8,595 | $1M | 0.5% | 2026-Q1 |
| Nova Wealth Management, Inc. added | 6,541 | $1M | 0.4% | 2026-Q1 |
| WILLNER & HELLER, LLC added | 6,523 | $1M | 0.4% | 2026-Q1 |
| Certified Advisory Corp added | 6,481 | $1M | 0.4% | 2026-Q1 |
| IFP Advisors, Inc added | 6,397 | $1M | 0.4% | 2026-Q1 |
| Golden State Wealth Management, LLC | 5,053 | $803K | 0.3% | 2026-Q1 |
| Apeiron RIA LLC trimmed | 4,851 | $771K | 0.3% | 2026-Q1 |
| INDEPENDENT FINANCIAL GROUP, LLC trimmed | 4,775 | $759K | 0.3% | 2026-Q1 |
| TrueWealth Advisors, LLC new | 4,725 | $751K | 0.3% | 2026-Q1 |
| Sanctuary Advisors, LLC trimmed | 4,159 | $661K | 0.2% | 2026-Q1 |
| Gateway Wealth Partners, LLC added | 3,436 | $546K | 0.2% | 2026-Q1 |
| Merit Financial Group, LLC new | 3,353 | $533K | 0.2% | 2026-Q1 |
| Aviance Capital Partners, LLC | 2,975 | $473K | 0.2% | 2026-Q1 |
| OPPENHEIMER & CO INC added | 2,862 | $455K | 0.2% | 2026-Q1 |
| NWAM LLC trimmed | 2,801 | $445K | 0.2% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 2,708 | $430K | 0.2% | 2026-Q1 |
| L. Roy Papp & Associates, LLP | 2,596 | $413K | 0.1% | 2026-Q1 |
| Belpointe Asset Management LLC new | 2,430 | $386K | 0.1% | 2026-Q1 |
| Fortis Capital Advisors, LLC new | 2,430 | $386K | 0.1% | 2026-Q1 |
| QTR Family Wealth, LLC added | 2,199 | $381K | 0.1% | 2026-Q1 |
| Parkway Wealth Management Group, LLC added | 1,924 | $325K | 0.1% | 2026-Q1 |
| Janney Montgomery Scott LLC trimmed | 1,934 | $307K | 0.1% | 2026-Q1 |
| PFG Advisors added | 1,885 | $300K | 0.1% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. added | 1,873 | $298K | 0.1% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 1,613 | $261K | 0.1% | 2026-Q1 |
| Clearstead Advisors, LLC | 1,633 | $260K | 0.1% | 2026-Q1 |
| 1ST SOURCE BANK | 1,606 | $255K | 0.1% | 2026-Q1 |
| TCFG WEALTH MANAGEMENT, LLC | 1,510 | $240K | 0.1% | 2026-Q1 |
| TCFG Investment Advisors, LLC new | 1,510 | $240K | 0.1% | 2026-Q1 |
| TRUEFG, LLC | 1,474 | $234K | 0.1% | 2026-Q1 |
| Equitable Holdings, Inc. added | 1,436 | $232K | 0.1% | 2026-Q1 |
| OneDigital Investment Advisors LLC trimmed | 1,359 | $216K | 0.1% | 2026-Q1 |
| THOROUGHBRED FINANCIAL SERVICES, LLC | 1,349 | $214K | 0.1% | 2026-Q1 |
| Ethos Financial Group, LLC trimmed | 1,335 | $212K | 0.1% | 2026-Q1 |
| Farther Finance Advisors, LLC | 1,302 | $210K | 0.1% | 2026-Q1 |
| Serenity Investment Advisors new | 1,090 | $200K | 0.1% | 2026-Q1 |
| CWM, LLC | 897 | $143K | 0.1% | 2026-Q1 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | 884 | $142K | 0.1% | 2026-Q1 |
| Rockefeller Capital Management L.P. trimmed | 829 | $132K | 0.0% | 2026-Q1 |
| Smartleaf Asset Management LLC | 750 | $115K | 0.0% | 2026-Q1 |
| Western Wealth Management, LLC new | 516 | $82K | 0.0% | 2026-Q1 |
| Advocate Investing Services LLC added | 434 | $69K | 0.0% | 2026-Q1 |
| Sound Income Strategies, LLC trimmed | 416 | $67K | 0.0% | 2026-Q1 |
| US BANCORP \DE\ | 389 | $62K | 0.0% | 2026-Q1 |
| FMR LLC trimmed | 370 | $59K | 0.0% | 2026-Q1 |
| Cullen/Frost Bankers, Inc. trimmed | 317 | $50K | 0.0% | 2026-Q1 |
| Keystone Wealth Services, LLC new | 53,800 | $7M | 2.4% | 2025-Q4 stale |
| CITADEL ADVISORS LLC added | 20,011 | $3M | 1.2% | 2025-Q3 stale |
| Vantus Wealth LLC new | 8,275 | $1M | 0.5% | 2025-Q4 stale |
| Virtu Financial LLC added | 5,924 | $959K | 0.3% | 2025-Q4 stale |
| Private Advisory Group LLC added | 5,705 | $923K | 0.3% | 2025-Q4 stale |
| TWO SIGMA INVESTMENTS, LP new | 5,500 | $808K | 0.3% | 2025-Q2 stale |
| Global Retirement Partners, LLC trimmed | 2,341 | $379K | 0.1% | 2025-Q4 stale |
| World Investment Advisors new | 1,798 | $291K | 0.1% | 2025-Q4 stale |
| Betterment LLC | 1,391 | $223K | 0.1% | 2025-Q3 stale |
| IFG Advisory, LLC | 1,310 | $212K | 0.1% | 2025-Q4 stale |
| ZACKS INVESTMENT MANAGEMENT new | 1,240 | $201K | 0.1% | 2025-Q4 stale |
| Ameritas Advisory Services, LLC added | 1,230 | $197K | 0.1% | 2025-Q3 stale |
| Flaharty Asset Management, LLC | 1,143 | $148K | 0.1% | 2025-Q1 stale |
| FLAGSHIP HARBOR ADVISORS, LLC new | 550 | $89K | 0.0% | 2025-Q4 stale |
| NewEdge Advisors, LLC added | 484 | $78K | 0.0% | 2025-Q4 stale |
| PRINCIPAL SECURITIES, INC. added | 373 | $60K | 0.0% | 2025-Q3 stale |
| Garton & Associates Financial Advisors LLC new | 309 | $50K | 0.0% | 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.