Who owns PBT (PBT)
Which tracked institutional funds hold PBT, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See PBT 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
The tracked-fund tape on PBT is one-sided between 2025-Q4 and 2026-Q1: 25 added or opened and 6 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
PBT’s largest tracked holder by dollar value, HORIZON KINETICS ASSET MANAGEMENT LLC, sizes it at 1.5% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 1.5pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in PBT 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 96 tracked filers holding PBT, 34 increased or opened the position and 46 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 PBT 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
- SteelPeak Wealth, LLC$4M
Full exits 2
- CITADEL ADVISORS LLC$4M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$2M
Largest adds
- HORIZON KINETICS ASSET MANAGEMENT LLC$32M
- SoftVest Advisors, LLC$28M
- SEI INVESTMENTS CO$6M
- MAD RIVER INVESTORS$5M
- SCHWARTZ INVESTMENT COUNSEL INC$4M
- Moors & Cabot, Inc.$3M
Largest trims
- JANE STREET GROUP, LLC$6M
- GROUP ONE TRADING LLC$3M
- SIMPLEX TRADING, LLC$991K
- State of Wyoming$419K
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 |
|---|---|---|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC added | 6,379,692 | $137M | 30.9% | 2026-Q1 |
| SoftVest Advisors, LLC | 6,217,107 | $134M | 30.1% | 2026-Q1 |
| MAD RIVER INVESTORS added | 1,003,140 | $22M | 4.9% | 2026-Q1 |
| SCHWARTZ INVESTMENT COUNSEL INC trimmed | 933,719 | $20M | 4.5% | 2026-Q1 |
| FOUNDATION RESOURCE MANAGEMENT INC trimmed | 630,207 | $14M | 3.0% | 2026-Q1 |
| Moors & Cabot, Inc. added | 588,642 | $13M | 2.8% | 2026-Q1 |
| SEI INVESTMENTS CO added | 422,000 | $9M | 2.0% | 2026-Q1 |
| MORGAN STANLEY added | 300,904 | $6M | 1.5% | 2026-Q1 |
| Hosking Partners LLP trimmed | 280,292 | $6M | 1.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 268,985 | $6M | 1.3% | 2026-Q1 |
| Advisory Services Network, LLC added | 251,436 | $5M | 1.2% | 2026-Q1 |
| MSRH, LLC added | 240,342 | $5M | 1.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 230,722 | $5M | 1.1% | 2026-Q1 |
| LPL Financial LLC trimmed | 211,240 | $5M | 1.0% | 2026-Q1 |
| SteelPeak Wealth, LLC new | 191,103 | $4M | 0.9% | 2026-Q1 |
| HRT FINANCIAL LP added | 170,826 | $4M | 0.8% | 2026-Q1 |
| Beacon Pointe Advisors, LLC added | 157,833 | $3M | 0.8% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 126,612 | $3M | 0.6% | 2026-Q1 |
| Lido Advisors, LLC trimmed | 122,037 | $3M | 0.6% | 2026-Q1 |
| BWM Planning, LLC | 104,397 | $2M | 0.5% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 84,184 | $2M | 0.4% | 2026-Q1 |
| Atlas Wealth Partners, LLC trimmed | 81,144 | $2M | 0.4% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 71,588 | $2M | 0.3% | 2026-Q1 |
| PROMETHIUM ADVISORS,LLC trimmed | 68,298 | $1M | 0.3% | 2026-Q1 |
| Pathstone Holdings, LLC | 62,936 | $1M | 0.3% | 2026-Q1 |
| Capital Analysts, LLC added | 57,583 | $1M | 0.3% | 2026-Q1 |
| Essex Financial Services, Inc. trimmed | 57,477 | $1M | 0.3% | 2026-Q1 |
| MOR Wealth Management, LLC | 52,534 | $1M | 0.3% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 51,387 | $1M | 0.2% | 2026-Q1 |
| Avondale Wealth Management added | 49,250 | $1M | 0.2% | 2026-Q1 |
| Fielder Capital Group LLC trimmed | 41,726 | $898K | 0.2% | 2026-Q1 |
| EagleClaw Capital Managment, LLC added | 35,450 | $763K | 0.2% | 2026-Q1 |
| UBS Group AG trimmed | 35,307 | $760K | 0.2% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC | 32,217 | $693K | 0.2% | 2026-Q1 |
| BEESE FULMER INVESTMENT MANAGEMENT, INC. trimmed | 29,617 | $638K | 0.1% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS trimmed | 26,892 | $579K | 0.1% | 2026-Q1 |
| Fruth Investment Management | 25,400 | $546K | 0.1% | 2026-Q1 |
| Financial Sense Advisors, Inc. | 25,000 | $538K | 0.1% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 22,240 | $479K | 0.1% | 2026-Q1 |
| Family Manage LLC | 21,748 | $468K | 0.1% | 2026-Q1 |
| Blue Trust, Inc. | 20,420 | $439K | 0.1% | 2026-Q1 |
| Resurgent Financial Advisors LLC | 20,000 | $430K | 0.1% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 19,835 | $427K | 0.1% | 2026-Q1 |
| Stratos Wealth Partners, LTD. added | 19,582 | $421K | 0.1% | 2026-Q1 |
| Welch Group, LLC added | 19,298 | $415K | 0.1% | 2026-Q1 |
| Corient Private Wealth LLC | 18,891 | $407K | 0.1% | 2026-Q1 |
| Capital Investment Advisors, LLC added | 18,367 | $395K | 0.1% | 2026-Q1 |
| INGALLS & SNYDER LLC | 18,268 | $393K | 0.1% | 2026-Q1 |
| BRADLEY FOSTER & SARGENT INC/CT trimmed | 17,070 | $367K | 0.1% | 2026-Q1 |
| State of Wyoming trimmed | 15,442 | $332K | 0.1% | 2026-Q1 |
| Waverly Advisors, LLC | 12,666 | $273K | 0.1% | 2026-Q1 |
| KINGSWOOD WEALTH ADVISORS, LLC | 12,439 | $268K | 0.1% | 2026-Q1 |
| Ironwood Financial, llc | 12,300 | $265K | 0.1% | 2026-Q1 |
| Quadrature Capital Ltd trimmed | 12,015 | $259K | 0.1% | 2026-Q1 |
| First Financial Bankshares Inc | 12,000 | $258K | 0.1% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 11,464 | $246K | 0.1% | 2026-Q1 |
| Walleye Capital LLC trimmed | 10,470 | $225K | 0.1% | 2026-Q1 |
| Clark Asset Management, LLC | 10,000 | $215K | 0.0% | 2026-Q1 |
| Russell Investments Group, Ltd. trimmed | 8,039 | $173K | 0.0% | 2026-Q1 |
| Atlantic Union Bankshares Corp added | 7,595 | $163K | 0.0% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 7,525 | $162K | 0.0% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. | 5,912 | $127K | 0.0% | 2026-Q1 |
| GROUP ONE TRADING LLC trimmed | 4,676 | $101K | 0.0% | 2026-Q1 |
| Access Investment Management LLC trimmed | 3,000 | $65K | 0.0% | 2026-Q1 |
| Pinnacle Wealth Planning Services, Inc. added | 2,837 | $61K | 0.0% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 2,568 | $55K | 0.0% | 2026-Q1 |
| Golden State Wealth Management, LLC | 2,446 | $53K | 0.0% | 2026-Q1 |
| Lummis Asset Management, LP | 1,850 | $40K | 0.0% | 2026-Q1 |
| BARCLAYS PLC added | 1,803 | $39K | 0.0% | 2026-Q1 |
| Signature Resources Capital Management, LLC | 1,800 | $39K | 0.0% | 2026-Q1 |
| Geneos Wealth Management Inc. | 1,500 | $32K | 0.0% | 2026-Q1 |
| Tower Research Capital LLC (TRC) trimmed | 1,240 | $27K | 0.0% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 1,162 | $25K | 0.0% | 2026-Q1 |
| CX Institutional new | 1,170 | $25K | 0.0% | 2026-Q1 |
| Smartleaf Asset Management LLC new | 1,000 | $22K | 0.0% | 2026-Q1 |
| BEACON INVESTMENT ADVISORY SERVICES, INC. new | 1,000 | $22K | 0.0% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 234,748 | $4M | 0.9% | 2025-Q4 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 107,165 | $2M | 0.4% | 2025-Q4 stale |
| BESSEMER GROUP INC | 96,021 | $2M | 0.4% | 2025-Q3 stale |
| OFI INVEST ASSET MANAGEMENT | 124,017 | $1M | 0.3% | 2025-Q1 stale |
| Kapitalo Investimentos Ltda added | 30,677 | $560K | 0.1% | 2025-Q3 stale |
| NAPATREE CAPITAL LLC added | 46,273 | $457K | 0.1% | 2025-Q1 stale |
| STATE STREET CORP trimmed | 17,965 | $305K | 0.1% | 2025-Q4 stale |
| SCS Capital Management LLC | 17,295 | $294K | 0.1% | 2025-Q4 stale |
| Creative Planning trimmed | 14,208 | $241K | 0.1% | 2025-Q4 stale |
| XTX Topco Ltd trimmed | 13,541 | $230K | 0.1% | 2025-Q4 stale |
| Qube Research & Technologies Ltd added | 22,146 | $219K | 0.0% | 2025-Q1 stale |
| PEAK6 LLC new | 15,727 | $196K | 0.0% | 2025-Q2 stale |
| Virtus Investment Advisers, LLC trimmed | 9,597 | $175K | 0.0% | 2025-Q3 stale |
| Apollon Wealth Management, LLC added | 15,675 | $155K | 0.0% | 2025-Q1 stale |
| Cambridge Investment Research Advisors, Inc. added | 12,385 | $154K | 0.0% | 2025-Q2 stale |
| Pekin Hardy Strauss, Inc. added | 15,500 | $154K | 0.0% | 2025-Q1 stale |
| PFG Investments, LLC | 14,070 | $139K | 0.0% | 2025-Q1 stale |
| LAZARD ASSET MANAGEMENT LLC trimmed | 9,143 | $113K | 0.0% | 2025-Q2 stale |
| Sandy Spring Bank | 6,524 | $65K | 0.0% | 2025-Q1 stale |
| NewEdge Advisors, LLC trimmed | 2,791 | $47K | 0.0% | 2025-Q4 stale |
| FOSTER DYKEMA CABOT & PARTNERS, LLC new | 2,193 | $40K | 0.0% | 2025-Q3 stale |
| Kestra Advisory Services, LLC new | 1,634 | $28K | 0.0% | 2025-Q4 stale |
| Principia Wealth Advisory, LLC | 1,333 | $23K | 0.0% | 2025-Q4 stale |
| Eagle Bay Advisors LLC new | 1,292 | $22K | 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.