Who owns RFEM
Which tracked institutional funds hold RFEM, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See RFEM company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-27). 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 RFEM is one-sided between 2026-Q1 and 2026-Q2: 9 added or opened and 3 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
RFEM’s largest tracked holder by dollar value, Ferguson Shapiro LLC, sizes it at 5.9% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 5.9pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in RFEM 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 39 tracked filers holding RFEM, 16 increased or opened the position and 18 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 RFEM 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 1
- J.W. COLE ADVISORS, INC.$2M
Full exits 1
- Cambridge Investment Research Advisors, Inc.$1M
Largest adds
- LPL Financial LLC$3M
- Ferguson Shapiro LLC$2M
- ENVESTNET ASSET MANAGEMENT INC$691K
- OLD MISSION CAPITAL LLC$460K
- TRUIST FINANCIAL CORP$383K
- MML INVESTORS SERVICES, LLC$346K
Largest trims
- Cetera Investment Advisers$1M
- WELLS FARGO & COMPANY/MN$749K
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 |
|---|---|---|---|---|
| Ferguson Shapiro LLC trimmed | 213,603 | $20M | 27.5% | 2026-Q2 |
| LPL Financial LLC added | 119,247 | $11M | 15.3% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 60,193 | $6M | 7.7% | 2026-Q2 |
| Baird Financial Group, Inc. trimmed | 40,840 | $4M | 5.3% | 2026-Q2 |
| Prospera Financial Services Inc trimmed | 33,713 | $3M | 4.3% | 2026-Q2 |
| RiverFront Investment Group, LLC trimmed | 33,302 | $3M | 4.3% | 2026-Q2 |
| TRUIST FINANCIAL CORP added | 27,179 | $3M | 3.5% | 2026-Q2 |
| J.W. COLE ADVISORS, INC. trimmed | 25,184 | $2M | 3.2% | 2026-Q2 |
| OLD MISSION CAPITAL LLC added | 23,573 | $2M | 3.0% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC added | 17,925 | $2M | 2.3% | 2026-Q2 |
| Maia Wealth LLC added | 17,174 | $2M | 2.2% | 2026-Q2 |
| Cetera Investment Advisers trimmed | 12,539 | $1M | 1.6% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 12,517 | $1M | 1.6% | 2026-Q2 |
| World Investment Advisors | 11,160 | $917K | 1.3% | 2026-Q2 |
| Keystone Wealth Services, LLC added | 7,977 | $749K | 1.0% | 2026-Q2 |
| Farther Finance Advisors, LLC trimmed | 6,153 | $578K | 0.8% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 5,344 | $502K | 0.7% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 3,498 | $329K | 0.5% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 3,090 | $290K | 0.4% | 2026-Q2 |
| BENJAMIN EDWARDS INC trimmed | 2,690 | $253K | 0.3% | 2026-Q2 |
| GeoWealth Management, LLC added | 2,483 | $233K | 0.3% | 2026-Q2 |
| Triad Wealth Partners, LLC trimmed | 2,416 | $227K | 0.3% | 2026-Q2 |
| GAMMA Investing LLC | 1,890 | $178K | 0.2% | 2026-Q2 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | 853 | $79K | 0.1% | 2026-Q2 |
| TUCKER ASSET MANAGEMENT LLC added | 804 | $76K | 0.1% | 2026-Q2 |
| REAP Financial Group, LLC added | 593 | $56K | 0.1% | 2026-Q2 |
| HARBOUR INVESTMENTS, INC. | 284 | $27K | 0.0% | 2026-Q2 |
| EVOLUTION WEALTH MANAGEMENT INC. | 159 | $15K | 0.0% | 2026-Q2 |
| Elevated Capital Advisors, LLC | 112 | $11K | 0.0% | 2026-Q2 |
| Coppell Advisory Solutions LLC trimmed | 15,114 | $10K | 0.0% | 2026-Q2 |
| UBS Group AG | 75 | $7K | 0.0% | 2026-Q2 |
| Ascentis Independent Advisors | 67 | $6K | 0.0% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC | 52 | $5K | 0.0% | 2026-Q2 |
| NewEdge Advisors, LLC | 48 | $5K | 0.0% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP new | 32 | $3K | 0.0% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO new | 16 | $2K | 0.0% | 2026-Q2 |
| JPMORGAN CHASE & CO | 14 | $1K | 0.0% | 2026-Q2 |
| PNC Financial Services Group, Inc. new | 0 | $43 | 0.0% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 0 | $15 | 0.0% | 2026-Q2 |
| Cambridge Investment Research Advisors, Inc. new | 17,388 | $1M | 2.0% | 2026-Q1 stale (1 quarter behind) |
| MGO ONE SEVEN LLC trimmed | 3,869 | $318K | 0.4% | 2026-Q1 stale (1 quarter behind) |
| Worth Financial Advisory Group, LLC new | 65 | $213K | 0.3% | 2026-Q1 stale (1 quarter behind) |
| MAI Capital Management | 805 | $66K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| ASSETMARK, INC trimmed | 40 | $3K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Sunbelt Securities, Inc. | 3 | $275 | 0.0% | 2026-Q1 stale (1 quarter behind) |
| MORGAN STANLEY | 1 | $156 | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Janney Montgomery Scott LLC added | 72,344 | $6M | 7.9% | 2025-Q4 stale (2 quarters behind) |
| Wagner Wealth Management, Corp new | 5,724 | $453K | 0.6% | 2025-Q4 stale (2 quarters behind) |
| Kestra Advisory Services, LLC new | 290 | $23K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| NBC SECURITIES, INC. | 1,100 | $83K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| Freedom Investment Management, Inc. trimmed | 3,921 | $280K | 0.4% | 2025-Q2 stale (4 quarters behind) |
| AMERIFLEX GROUP, INC. | 3 | $214 | 0.0% | 2025-Q2 stale (4 quarters behind) |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale (4 quarters behind) |
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.