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-Q1 13F filings. 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
28 tracked funds added or opened FREL while 22 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
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 2025-Q4 and 2026-Q1, across 200 tracked filers holding FREL, 110 increased or opened the position and 82 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 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 4
- Pasadena Private Wealth, LLC$6M
- Savvy Advisors, Inc.$1M
- CITADEL ADVISORS LLC$864K
- JANE STREET GROUP, LLC$724K
Full exits 8
- Diversify Advisory Services, LLC$2M
- Blue Barn Wealth, LLC$2M
- Kovitz Investment Group Partners, LLC$1M
- J.W. COLE ADVISORS, INC.$1M
- Mach-1 Financial Group, LLC$1M
- Integrated Investment Consultants, LLC$834K
Largest adds
- BANK OF AMERICA CORP /DE/$275M
- TWO SIGMA INVESTMENTS, LP$7M
- LPL Financial LLC$5M
- ENVESTNET ASSET MANAGEMENT INC$4M
- DIVERSIFY WEALTH MANAGEMENT, LLC$3M
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$3M
Largest trims
- AE Wealth Management LLC$37M
- Lido Advisors, LLC$6M
- PNC FINANCIAL SERVICES GROUP, INC.$4M
- Cetera Investment Advisers$1M
- Elevated Capital Advisors, LLC$840K
- OSAIC HOLDINGS, INC.$804K
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 |
|---|---|---|---|---|
| BANK OF AMERICA CORP /DE/ added | 10,268,643 | $276M | 35.0% | 2026-Q1 |
| Lido Advisors, LLC trimmed | 1,158,618 | $31M | 4.0% | 2026-Q1 |
| CITIZENS & NORTHERN CORP added | 1,119,933 | $30M | 3.8% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 963,333 | $26M | 3.3% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 850,355 | $23M | 2.9% | 2026-Q1 |
| Black Diamond Financial, LLC added | 827,301 | $22M | 2.8% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. trimmed | 701,032 | $19M | 2.4% | 2026-Q1 |
| TRUEFG, LLC added | 691,622 | $19M | 2.4% | 2026-Q1 |
| MAI Capital Management added | 690,011 | $19M | 2.4% | 2026-Q1 |
| LPL Financial LLC added | 588,435 | $16M | 2.0% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 575,000 | $15M | 2.0% | 2026-Q1 |
| Riverpoint Wealth Management Holdings, LLC added | 555,858 | $15M | 1.9% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 552,912 | $15M | 1.9% | 2026-Q1 |
| Pure Financial Advisors, LLC trimmed | 386,688 | $10M | 1.3% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 377,838 | $10M | 1.3% | 2026-Q1 |
| DIVERSIFY WEALTH MANAGEMENT, LLC added | 329,694 | $9M | 1.2% | 2026-Q1 |
| Payne Capital Management, LLC added | 312,330 | $8M | 1.1% | 2026-Q1 |
| Marotta Asset Management added | 252,566 | $7M | 0.9% | 2026-Q1 |
| AE Wealth Management LLC trimmed | 247,230 | $7M | 0.8% | 2026-Q1 |
| Rehmann Capital Advisory Group added | 240,190 | $6M | 0.8% | 2026-Q1 |
| Heck Capital Advisors, LLC added | 235,930 | $6M | 0.8% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 234,340 | $6M | 0.8% | 2026-Q1 |
| Pasadena Private Wealth, LLC new | 220,576 | $6M | 0.8% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 215,674 | $6M | 0.7% | 2026-Q1 |
| AGF MANAGEMENT LTD added | 213,426 | $6M | 0.7% | 2026-Q1 |
| Creative Planning trimmed | 212,107 | $6M | 0.7% | 2026-Q1 |
| Dynamic Advisor Solutions LLC added | 208,822 | $6M | 0.7% | 2026-Q1 |
| AMERICAN FINANCIAL & TAX STRATEGIES INC trimmed | 199,741 | $5M | 0.7% | 2026-Q1 |
| MORGAN STANLEY added | 181,647 | $5M | 0.6% | 2026-Q1 |
| Townsend Financial Planning, LLC added | 171,333 | $5M | 0.6% | 2026-Q1 |
| RFG Advisory, LLC added | 160,655 | $4M | 0.5% | 2026-Q1 |
| Physician Wealth Advisors, Inc. trimmed | 159,940 | $4M | 0.5% | 2026-Q1 |
| HighTower Advisors, LLC added | 155,854 | $4M | 0.5% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 149,017 | $4M | 0.5% | 2026-Q1 |
| UBS Group AG added | 145,021 | $4M | 0.5% | 2026-Q1 |
| Essential Planning, LLC. added | 134,920 | $4M | 0.5% | 2026-Q1 |
| Financial Engines Advisors L.L.C. added | 134,417 | $4M | 0.5% | 2026-Q1 |
| Opes Wealth Management LLC added | 133,774 | $4M | 0.5% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC added | 126,162 | $3M | 0.4% | 2026-Q1 |
| Mariner, LLC added | 124,677 | $3M | 0.4% | 2026-Q1 |
| Prospect Financial Group LLC added | 116,981 | $3M | 0.4% | 2026-Q1 |
| SigFig Wealth Management, LLC trimmed | 114,594 | $3M | 0.4% | 2026-Q1 |
| Independent Solutions Wealth Management, LLC added | 114,305 | $3M | 0.4% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 104,458 | $3M | 0.4% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 97,282 | $3M | 0.3% | 2026-Q1 |
| PARK AVENUE SECURITIES LLC trimmed | 92,528 | $2M | 0.3% | 2026-Q1 |
| SACHEM HILL LLC added | 90,648 | $2M | 0.3% | 2026-Q1 |
| Livet Wealth, LLC added | 87,202 | $2M | 0.3% | 2026-Q1 |
| LODESTAR PRIVATE ASSET MANAGEMENT LLC added | 81,676 | $2M | 0.3% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV added | 79,160 | $2M | 0.3% | 2026-Q1 |
| NWAM LLC added | 76,616 | $2M | 0.3% | 2026-Q1 |
| Sachetta, LLC added | 74,220 | $2M | 0.3% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 73,292 | $2M | 0.2% | 2026-Q1 |
| Beckerman Institutional, LLC added | 70,108 | $2M | 0.2% | 2026-Q1 |
| Fifth Third Securities, Inc. added | 65,076 | $2M | 0.2% | 2026-Q1 |
| Palisades Hudson Asset Management, L.P. added | 62,684 | $2M | 0.2% | 2026-Q1 |
| Asset Management Group, Inc. added | 62,644 | $2M | 0.2% | 2026-Q1 |
| Beaumont Financial Advisors, LLC added | 60,958 | $2M | 0.2% | 2026-Q1 |
| Tortoise Investment Management, LLC added | 58,524 | $2M | 0.2% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 57,768 | $2M | 0.2% | 2026-Q1 |
| Birchcreek Wealth Management, LLC added | 57,276 | $2M | 0.2% | 2026-Q1 |
| Marks Group Wealth Management, Inc | 55,559 | $1M | 0.2% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 55,208 | $1M | 0.2% | 2026-Q1 |
| Savvy Advisors, Inc. new | 54,837 | $1M | 0.2% | 2026-Q1 |
| Soltis Investment Advisors LLC added | 54,689 | $1M | 0.2% | 2026-Q1 |
| Eagle Bay Advisors LLC trimmed | 54,655 | $1M | 0.2% | 2026-Q1 |
| SUMMIT WEALTH GROUP LLC / CO added | 53,265 | $1M | 0.2% | 2026-Q1 |
| HF Advisory Group, LLC added | 53,794 | $1M | 0.2% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 48,212 | $1M | 0.2% | 2026-Q1 |
| Atria Investments, Inc trimmed | 47,981 | $1M | 0.2% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 47,533 | $1M | 0.2% | 2026-Q1 |
| 21 West Wealth Management LLC added | 44,714 | $1M | 0.2% | 2026-Q1 |
| Life Planning Partners, Inc trimmed | 40,892 | $1M | 0.1% | 2026-Q1 |
| SMITH, MOORE & CO. | 40,281 | $1M | 0.1% | 2026-Q1 |
| Private Advisor Group, LLC trimmed | 36,036 | $970K | 0.1% | 2026-Q1 |
| Glass Jacobson Investment Advisors llc trimmed | 34,869 | $938K | 0.1% | 2026-Q1 |
| PKS Advisory Services, LLC added | 34,118 | $918K | 0.1% | 2026-Q1 |
| Rather & Kittrell, Inc. added | 33,606 | $904K | 0.1% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 33,033 | $876K | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 32,100 | $864K | 0.1% | 2026-Q1 |
| Northwest Wealth Advisors, LLC added | 31,361 | $844K | 0.1% | 2026-Q1 |
| INTEGRATED CAPITAL MANAGEMENT, INC. trimmed | 31,264 | $841K | 0.1% | 2026-Q1 |
| Fort Point Capital Partners LLC trimmed | 29,927 | $805K | 0.1% | 2026-Q1 |
| Sunbelt Securities, Inc. added | 29,789 | $802K | 0.1% | 2026-Q1 |
| AVANTAX ADVISORY SERVICES, INC. trimmed | 404,892 | $11M | 1.4% | 2025-Q2 stale |
| BNP PARIBAS FINANCIAL MARKETS added | 150,008 | $4M | 0.5% | 2025-Q3 stale |
| Quadrature Capital Ltd added | 98,423 | $3M | 0.3% | 2025-Q1 stale |
| FORTE ASSET MANAGEMENT LLC added | 85,484 | $2M | 0.3% | 2025-Q1 stale |
| Soundwatch Capital LLC new | 4,850 | $2M | 0.3% | 2025-Q2 stale |
| Diversify Advisory Services, LLC added | 72,313 | $2M | 0.3% | 2025-Q4 stale |
| CW Advisors, LLC added | 72,388 | $2M | 0.2% | 2025-Q2 stale |
| FIRST NATIONAL CORP /MA/ /ADV added | 62,318 | $2M | 0.2% | 2025-Q3 stale |
| Blue Barn Wealth, LLC trimmed | 61,375 | $2M | 0.2% | 2025-Q4 stale |
| Atria Wealth Solutions, Inc. added | 55,917 | $2M | 0.2% | 2025-Q2 stale |
| Kovitz Investment Group Partners, LLC trimmed | 55,517 | $1M | 0.2% | 2025-Q4 stale |
| Rede Wealth, LLC new | 51,758 | $1M | 0.2% | 2025-Q3 stale |
| Full Sail Capital, LLC trimmed | 38,517 | $1M | 0.1% | 2025-Q3 stale |
| J.W. COLE ADVISORS, INC. added | 39,002 | $1M | 0.1% | 2025-Q4 stale |
| Mach-1 Financial Group, LLC new | 38,585 | $1M | 0.1% | 2025-Q4 stale |
| Integrated Investment Consultants, LLC | 31,000 | $834K | 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.