Who owns SBC (SBC)
Which tracked institutional funds hold SBC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SBC 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 SBC is one-sided between 2025-Q4 and 2026-Q1: 3 added or opened and 1 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
SBC’s largest tracked holder by dollar value, Decagon Asset Management LLP, sizes it at 25.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 25.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SBC 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 69 tracked filers holding SBC, 29 increased or opened the position and 28 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
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 SBC 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
- VANGUARD CAPITAL MANAGEMENT LLC$569K
Full exits 1
- VANGUARD GROUP INC$1M
Largest adds
- Decagon Asset Management LLP$20M
- Context Capital Management, LLC$12M
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 |
|---|---|---|---|---|
| Decagon Asset Management LLP trimmed | 944,992 | $260M | 71.0% | 2026-Q1 |
| Context Capital Management, LLC | 208,389 | $57M | 15.7% | 2026-Q1 |
| BlackRock, Inc. trimmed | 419,640 | $2M | 0.5% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 295,779 | $1M | 0.3% | 2026-Q1 |
| BOOTHBAY FUND MANAGEMENT, LLC | 180,629 | $755K | 0.2% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 136,239 | $569K | 0.2% | 2026-Q1 |
| NORTHERN TRUST CORP added | 91,139 | $381K | 0.1% | 2026-Q1 |
| SEGALL BRYANT & HAMILL, LLC new | 81,307 | $340K | 0.1% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 63,547 | $266K | 0.1% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 62,473 | $261K | 0.1% | 2026-Q1 |
| SBI Securities Co., Ltd. trimmed | 45,080 | $188K | 0.1% | 2026-Q1 |
| ARISTEIA CAPITAL, L.L.C. added | 530,169 | $159K | 0.0% | 2026-Q1 |
| Polar Asset Management Partners Inc. trimmed | 435,700 | $131K | 0.0% | 2026-Q1 |
| STATE STREET CORP added | 30,839 | $129K | 0.0% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 25,087 | $105K | 0.0% | 2026-Q1 |
| Mariner, LLC new | 23,960 | $100K | 0.0% | 2026-Q1 |
| MMCAP International Inc. SPC | 330,000 | $91K | 0.0% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 18,201 | $76K | 0.0% | 2026-Q1 |
| Lumbard & Kellner, LLC new | 17,273 | $72K | 0.0% | 2026-Q1 |
| NEW YORK STATE COMMON RETIREMENT FUND | 17,000 | $71K | 0.0% | 2026-Q1 |
| Weiss Asset Management LP | 229,192 | $69K | 0.0% | 2026-Q1 |
| Williams & Novak, LLC trimmed | 14,237 | $63K | 0.0% | 2026-Q1 |
| Saba Capital Management, L.P. | 200,000 | $60K | 0.0% | 2026-Q1 |
| Cable Car Capital, LP | 196,000 | $59K | 0.0% | 2026-Q1 |
| Yakira Capital Management, Inc. trimmed | 207,025 | $57K | 0.0% | 2026-Q1 |
| Russell Investments Group, Ltd. added | 13,589 | $57K | 0.0% | 2026-Q1 |
| Clear Street Group Inc. added | 199,865 | $55K | 0.0% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 12,574 | $53K | 0.0% | 2026-Q1 |
| D. E. Shaw & Co., Inc. | 172,500 | $52K | 0.0% | 2026-Q1 |
| Nuveen, LLC | 12,368 | $52K | 0.0% | 2026-Q1 |
| Bank of New York Mellon Corp new | 10,180 | $43K | 0.0% | 2026-Q1 |
| Caption Management, LLC new | 150,000 | $41K | 0.0% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 8,557 | $36K | 0.0% | 2026-Q1 |
| MORGAN STANLEY trimmed | 8,399 | $35K | 0.0% | 2026-Q1 |
| Ionic Capital Management LLC new | 100,000 | $30K | 0.0% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 6,447 | $27K | 0.0% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 5,357 | $22K | 0.0% | 2026-Q1 |
| Tower Research Capital LLC (TRC) added | 5,217 | $22K | 0.0% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 4,585 | $19K | 0.0% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 4,250 | $18K | 0.0% | 2026-Q1 |
| UBS Group AG trimmed | 3,734 | $16K | 0.0% | 2026-Q1 |
| FMR LLC trimmed | 3,388 | $14K | 0.0% | 2026-Q1 |
| TORONTO DOMINION BANK trimmed | 50,800 | $14K | 0.0% | 2026-Q1 |
| Shaolin Capital Management LLC trimmed | 50,000 | $14K | 0.0% | 2026-Q1 |
| BARCLAYS PLC trimmed | 3,173 | $13K | 0.0% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS | 2,477 | $10K | 0.0% | 2026-Q1 |
| WHITEBOX ADVISORS LLC | 35,000 | $10K | 0.0% | 2026-Q1 |
| WOLVERINE ASSET MANAGEMENT LLC trimmed | 33,990 | $9K | 0.0% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 28,270 | $8K | 0.0% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 1,307 | $6K | 0.0% | 2026-Q1 |
| EverSource Wealth Advisors, LLC added | 28 | $4K | 0.0% | 2026-Q1 |
| CWM, LLC added | 738 | $3K | 0.0% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 610 | $3K | 0.0% | 2026-Q1 |
| CITIGROUP INC added | 594 | $2K | 0.0% | 2026-Q1 |
| Ameritas Investment Partners, Inc. | 577 | $2K | 0.0% | 2026-Q1 |
| Essential Partners LLC trimmed | 531 | $2K | 0.0% | 2026-Q1 |
| Legal & General Group Plc | 514 | $2K | 0.0% | 2026-Q1 |
| GAMMA Investing LLC added | 387 | $2K | 0.0% | 2026-Q1 |
| Sterling Capital Management LLC trimmed | 352 | $1K | 0.0% | 2026-Q1 |
| Transamerica Financial Advisors, LLC | 39 | $163 | 0.0% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. | 10 | $42 | 0.0% | 2026-Q1 |
| Root Financial Partners, LLC new | 9 | $38 | 0.0% | 2026-Q1 |
| Arax Advisory Partners trimmed | 19 | $21 | 0.0% | 2026-Q1 |
| Farther Finance Advisors, LLC trimmed | 2 | $9 | 0.0% | 2026-Q1 |
| Allworth Financial LP trimmed | 2 | $9 | 0.0% | 2026-Q1 |
| Sunbelt Securities, Inc. added | 2 | $8 | 0.0% | 2026-Q1 |
| ROTHSCHILD INVESTMENT LLC added | 2 | $8 | 0.0% | 2026-Q1 |
| MAI Capital Management new | 1 | $5 | 0.0% | 2026-Q1 |
| IFP Advisors, Inc trimmed | 1 | $4 | 0.0% | 2026-Q1 |
| ATW SPAC MANAGEMENT LLC | 180,629 | $39M | 10.7% | 2025-Q3 stale |
| VANGUARD GROUP INC added | 269,582 | $1M | 0.3% | 2025-Q4 stale |
| MILLENNIUM MANAGEMENT LLC added | 50,461 | $219K | 0.1% | 2025-Q3 stale |
| CITADEL ADVISORS LLC added | 29,366 | $136K | 0.0% | 2025-Q2 stale |
| XTX Topco Ltd added | 13,713 | $64K | 0.0% | 2025-Q2 stale |
| Engineers Gate Manager LP new | 11,661 | $51K | 0.0% | 2025-Q3 stale |
| Tabor Asset Management, LP new | 208,303 | $39K | 0.0% | 2025-Q1 stale |
| CLEAR STREET LLC trimmed | 198,587 | $38K | 0.0% | 2025-Q2 stale |
| MARSHALL WACE, LLP trimmed | 11,485 | $37K | 0.0% | 2025-Q1 stale |
| BANK OF AMERICA CORP /DE/ added | 7,883 | $34K | 0.0% | 2025-Q4 stale |
| DEUTSCHE BANK AG\ trimmed | 7,236 | $34K | 0.0% | 2025-Q2 stale |
| RPO LLC | 99,855 | $19K | 0.0% | 2025-Q1 stale |
| Private Wealth Asset Management, LLC new | 2,000 | $9K | 0.0% | 2025-Q3 stale |
| METEORA CAPITAL, LLC trimmed | 35,161 | $7K | 0.0% | 2025-Q1 stale |
| AMALGAMATED BANK added | 354 | $2K | 0.0% | 2025-Q4 stale |
| Clearstead Advisors, LLC new | 119 | $517 | 0.0% | 2025-Q3 stale |
| PRINCIPAL SECURITIES, INC. new | 33 | $143 | 0.0% | 2025-Q3 stale |
| True Wealth Design, LLC new | 31 | $135 | 0.0% | 2025-Q3 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 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.