Who owns FREL
Which tracked institutional funds hold FREL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See FREL company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-20). 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 FREL is one-sided between 2026-Q1 and 2026-Q2: 58 added or opened and 16 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
FREL’s largest tracked holder by dollar value, BANK OF AMERICA CORP /DE/, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.1pp gap the other way — the median holder sizes FREL more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in FREL 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 202 tracked filers holding FREL, 116 increased or opened the position and 91 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 FREL 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 11
- Diversify Advisory Services, LLC$11M
- EP Wealth Advisors, LLC$4M
- NorthCoast Asset Management LLC$2M
- Global View Capital Management LLC$2M
- J.W. COLE ADVISORS, INC.$1M
- BLUE JEAN FINANCIAL LLC$973K
Full exits 10
- TWO SIGMA INVESTMENTS, LP$15M
- HighTower Advisors, LLC$4M
- Opes Wealth Management LLC$4M
- Cambridge Investment Research Advisors, Inc.$3M
- PARK AVENUE SECURITIES LLC$2M
- Palisades Hudson Asset Management, L.P.$2M
Largest adds
- BANK OF AMERICA CORP /DE/$31M
- Black Diamond Financial, LLC$4M
- MAI Capital Management$3M
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$3M
- Pasadena Private Wealth, LLC$3M
- TRUEFG, LLC$2M
Largest trims
- Rehmann Capital Advisory Group$5M
- CITIZENS & NORTHERN CORP$2M
- UBS Group AG$1M
- ENVESTNET ASSET MANAGEMENT INC$1M
- ROYAL BANK OF CANADA$573K
- Private Advisor Group, LLC$388K
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 |
|---|---|---|---|---|
| BANK OF AMERICA CORP /DE/ added | 10,474,151 | $307M | 37.4% | 2026-Q2 |
| Lido Advisors, LLC trimmed | 1,113,126 | $33M | 4.0% | 2026-Q2 |
| CITIZENS & NORTHERN CORP trimmed | 953,634 | $28M | 3.4% | 2026-Q2 |
| Black Diamond Financial, LLC added | 897,336 | $26M | 3.2% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 869,139 | $25M | 3.1% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 834,747 | $24M | 3.0% | 2026-Q2 |
| MAI Capital Management added | 751,885 | $22M | 2.7% | 2026-Q2 |
| TRUEFG, LLC added | 707,277 | $21M | 2.5% | 2026-Q2 |
| PNC Financial Services Group, Inc. trimmed | 635,609 | $19M | 2.3% | 2026-Q2 |
| LPL Financial LLC added | 606,359 | $18M | 2.2% | 2026-Q2 |
| Riverpoint Wealth Management Holdings, LLC added | 574,099 | $17M | 2.1% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 550,820 | $16M | 2.0% | 2026-Q2 |
| Cetera Investment Advisers added | 414,726 | $12M | 1.5% | 2026-Q2 |
| Pure Financial Advisors, LLC trimmed | 374,745 | $11M | 1.3% | 2026-Q2 |
| Diversify Advisory Services, LLC added | 348,236 | $11M | 1.3% | 2026-Q2 |
| DIVERSIFY WEALTH MANAGEMENT, LLC added | 348,236 | $11M | 1.3% | 2026-Q2 |
| Payne Capital Management, LLC added | 326,406 | $10M | 1.2% | 2026-Q2 |
| Pasadena Private Wealth, LLC added | 290,004 | $8M | 1.0% | 2026-Q2 |
| Marotta Asset Management added | 271,595 | $8M | 1.0% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC added | 251,290 | $7M | 0.9% | 2026-Q2 |
| AE Wealth Management LLC trimmed | 242,504 | $7M | 0.9% | 2026-Q2 |
| Heck Capital Advisors, LLC trimmed | 229,503 | $7M | 0.8% | 2026-Q2 |
| Dynamic Advisor Solutions LLC added | 218,481 | $6M | 0.8% | 2026-Q2 |
| AGF MANAGEMENT LTD added | 217,104 | $6M | 0.8% | 2026-Q2 |
| OSAIC HOLDINGS, INC. trimmed | 210,574 | $6M | 0.8% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 207,182 | $6M | 0.7% | 2026-Q2 |
| Creative Planning trimmed | 203,021 | $6M | 0.7% | 2026-Q2 |
| AMERICAN FINANCIAL & TAX STRATEGIES INC trimmed | 199,554 | $6M | 0.7% | 2026-Q2 |
| MORGAN STANLEY added | 188,778 | $6M | 0.7% | 2026-Q2 |
| Townsend Financial Planning, LLC added | 171,682 | $5M | 0.6% | 2026-Q2 |
| RFG Advisory, LLC added | 167,965 | $5M | 0.6% | 2026-Q2 |
| Physician Wealth Advisors, Inc. trimmed | 159,503 | $5M | 0.6% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC added | 148,155 | $4M | 0.5% | 2026-Q2 |
| EP Wealth Advisors, LLC added | 145,026 | $4M | 0.5% | 2026-Q2 |
| Essential Planning, LLC. added | 135,769 | $4M | 0.5% | 2026-Q2 |
| Financial Engines Advisors L.L.C. trimmed | 133,050 | $4M | 0.5% | 2026-Q2 |
| Prospect Financial Group LLC added | 124,636 | $4M | 0.4% | 2026-Q2 |
| Independent Solutions Wealth Management, LLC added | 115,332 | $3M | 0.4% | 2026-Q2 |
| SigFig Wealth Management, LLC trimmed | 113,284 | $3M | 0.4% | 2026-Q2 |
| Mariner, LLC trimmed | 111,416 | $3M | 0.4% | 2026-Q2 |
| SACHEM HILL LLC added | 91,098 | $3M | 0.3% | 2026-Q2 |
| Livet Wealth, LLC added | 89,667 | $3M | 0.3% | 2026-Q2 |
| LODESTAR PRIVATE ASSET MANAGEMENT LLC added | 87,011 | $3M | 0.3% | 2026-Q2 |
| UBS Group AG trimmed | 82,177 | $2M | 0.3% | 2026-Q2 |
| NorthCoast Asset Management LLC added | 81,922 | $2M | 0.3% | 2026-Q2 |
| RAFFA WEALTH MANAGEMENT, LLC added | 81,795 | $2M | 0.3% | 2026-Q2 |
| Sachetta, LLC added | 81,586 | $2M | 0.3% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 79,671 | $2M | 0.3% | 2026-Q2 |
| NWAM LLC added | 79,063 | $2M | 0.3% | 2026-Q2 |
| Beckerman Institutional, LLC added | 77,119 | $2M | 0.3% | 2026-Q2 |
| Global View Capital Management LLC new | 76,656 | $2M | 0.3% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 76,377 | $2M | 0.3% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV trimmed | 71,955 | $2M | 0.3% | 2026-Q2 |
| SUMMIT WEALTH GROUP LLC / CO added | 69,035 | $2M | 0.2% | 2026-Q2 |
| Eagle Bay Advisors LLC added | 68,053 | $2M | 0.2% | 2026-Q2 |
| Fifth Third Securities, Inc. added | 65,510 | $2M | 0.2% | 2026-Q2 |
| Asset Management Group, Inc. added | 63,029 | $2M | 0.2% | 2026-Q2 |
| Tortoise Investment Management, LLC added | 62,874 | $2M | 0.2% | 2026-Q2 |
| Atria Investments, Inc added | 61,443 | $2M | 0.2% | 2026-Q2 |
| Birchcreek Wealth Management, LLC added | 60,592 | $2M | 0.2% | 2026-Q2 |
| Marks Group Wealth Management, Inc | 55,559 | $2M | 0.2% | 2026-Q2 |
| HF Advisory Group, LLC added | 55,036 | $2M | 0.2% | 2026-Q2 |
| Beaumont Financial Advisors, LLC trimmed | 55,008 | $2M | 0.2% | 2026-Q2 |
| Soltis Investment Advisors LLC trimmed | 54,387 | $2M | 0.2% | 2026-Q2 |
| Farther Finance Advisors, LLC trimmed | 52,577 | $2M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 49,178 | $1M | 0.2% | 2026-Q2 |
| Rehmann Capital Advisory Group trimmed | 48,085 | $1M | 0.2% | 2026-Q2 |
| Kestra Advisory Services, LLC trimmed | 45,792 | $1M | 0.2% | 2026-Q2 |
| Savvy Advisors, Inc. trimmed | 45,286 | $1M | 0.2% | 2026-Q2 |
| 21 West Wealth Management LLC added | 44,741 | $1M | 0.2% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 44,615 | $1M | 0.2% | 2026-Q2 |
| J.W. COLE ADVISORS, INC. added | 40,675 | $1M | 0.1% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 40,330 | $1M | 0.1% | 2026-Q2 |
| SMITH, MOORE & CO. trimmed | 39,931 | $1M | 0.1% | 2026-Q2 |
| Life Planning Partners, Inc trimmed | 37,232 | $1M | 0.1% | 2026-Q2 |
| Glass Jacobson Investment Advisors llc added | 36,485 | $1M | 0.1% | 2026-Q2 |
| Northwest Wealth Advisors, LLC added | 35,685 | $1M | 0.1% | 2026-Q2 |
| PKS Advisory Services, LLC added | 34,201 | $1M | 0.1% | 2026-Q2 |
| Rather & Kittrell, Inc. trimmed | 33,473 | $981K | 0.1% | 2026-Q2 |
| INTEGRATED CAPITAL MANAGEMENT, INC. added | 33,324 | $976K | 0.1% | 2026-Q2 |
| BLUE JEAN FINANCIAL LLC new | 33,203 | $973K | 0.1% | 2026-Q2 |
| FMR LLC added | 31,876 | $934K | 0.1% | 2026-Q2 |
| Integrated Investment Consultants, LLC | 31,000 | $908K | 0.1% | 2026-Q2 |
| Fort Point Capital Partners LLC added | 30,969 | $907K | 0.1% | 2026-Q2 |
| New England Private Wealth Advisors LLC added | 30,333 | $928K | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 28,874 | $846K | 0.1% | 2026-Q2 |
| BALANCED WEALTH GROUP LLC added | 28,387 | $832K | 0.1% | 2026-Q2 |
| Savant Capital, LLC new | 27,511 | $806K | 0.1% | 2026-Q2 |
| Gladstone Institutional Advisory LLC added | 26,960 | $790K | 0.1% | 2026-Q2 |
| Fingerlakes Wealth Management, Inc. added | 25,722 | $754K | 0.1% | 2026-Q2 |
| CITIGROUP INC added | 25,558 | $749K | 0.1% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 24,759 | $739K | 0.1% | 2026-Q2 |
| Global Retirement Partners, LLC added | 24,581 | $720K | 0.1% | 2026-Q2 |
| IFP Advisors, Inc trimmed | 24,573 | $720K | 0.1% | 2026-Q2 |
| SYKON CAPITAL LLC new | 23,790 | $697K | 0.1% | 2026-Q2 |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC trimmed | 23,738 | $696K | 0.1% | 2026-Q2 |
| Smith Salley Wealth Management added | 23,359 | $684K | 0.1% | 2026-Q2 |
| Pinnacle Financial Partners, Inc. new | 21,747 | $637K | 0.1% | 2026-Q2 |
| Investmark Advisory Group LLC added | 20,825 | $610K | 0.1% | 2026-Q2 |
| Envestnet Portfolio Solutions, Inc. new | 20,723 | $607K | 0.1% | 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.