Who owns SHM
Which tracked institutional funds hold SHM, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SHM company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 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
62 tracked funds added or opened SHM while 57 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
SHM’s largest tracked holder by dollar value, BANK OF AMERICA CORP /DE/, sizes it at 0.1% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SHM 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 395 tracked filers holding SHM, 166 increased or opened the position and 178 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 SHM 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 12
- Phillip James Consulting Co.$4M
- RW Investment Management LLC$3M
- Focus Partners Advisor Solutions, LLC$2M
- OLD MISSION CAPITAL LLC$2M
- FLOW TRADERS U.S. LLC$2M
- RiverGlades Family Offices LLC$1M
Full exits 17
- Quent Long Short Global Small Cap Fund, LP$86M
- PURE PORTFOLIOS HOLDINGS LLC$7M
- Janney Capital Management LLC$3M
- COMERICA BANK$3M
- Global Retirement Partners, LLC$2M
- SageView Advisory Group, LLC$2M
Largest adds
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$144M
- ENVESTNET ASSET MANAGEMENT INC$43M
- GOLDMAN SACHS GROUP INC$37M
- BANK OF AMERICA CORP /DE/$35M
- Quent Capital, LLC$17M
- JANE STREET GROUP, LLC$11M
Largest trims
- CLIFTONLARSONALLEN WEALTH ADVISORS, LLC$47M
- WELLS FARGO & COMPANY/MN$27M
- UNITED CAPITAL FINANCIAL ADVISORS, LLC$19M
- HighTower Advisors, LLC$15M
- Karpus Management, Inc.$14M
- UMB Bank, n.a.$14M
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 | 21,326,865 | $1.0B | 34.6% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 5,154,984 | $247M | 8.4% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 3,548,706 | $170M | 5.8% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 3,061,552 | $146M | 5.0% | 2026-Q1 |
| MORGAN STANLEY added | 2,304,145 | $110M | 3.7% | 2026-Q1 |
| Quent Capital, LLC added | 2,160,790 | $103M | 3.5% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 1,894,713 | $91M | 3.1% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. added | 1,732,033 | $83M | 2.8% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV trimmed | 1,545,743 | $74M | 2.5% | 2026-Q1 |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC trimmed | 1,419,516 | $68M | 2.3% | 2026-Q1 |
| CX Institutional added | 1,112,845 | $53M | 1.8% | 2026-Q1 |
| LPL Financial LLC added | 888,605 | $43M | 1.4% | 2026-Q1 |
| CLIFTONLARSONALLEN WEALTH ADVISORS, LLC trimmed | 744,272 | $36M | 1.2% | 2026-Q1 |
| Financial Engines Advisors L.L.C. added | 668,321 | $32M | 1.1% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 624,590 | $30M | 1.0% | 2026-Q1 |
| Wealthcare Advisory Partners LLC trimmed | 600,611 | $29M | 1.0% | 2026-Q1 |
| UBS Group AG added | 489,719 | $23M | 0.8% | 2026-Q1 |
| Alaska Wealth Advisors, LLC added | 467,214 | $22M | 0.8% | 2026-Q1 |
| Gerber Kawasaki Wealth & Investment Management added | 461,973 | $22M | 0.7% | 2026-Q1 |
| STIFEL FINANCIAL CORP trimmed | 382,635 | $18M | 0.6% | 2026-Q1 |
| Betterment LLC trimmed | 306,333 | $15M | 0.5% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 281,923 | $13M | 0.5% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 277,590 | $13M | 0.5% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 276,213 | $13M | 0.4% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 254,139 | $12M | 0.4% | 2026-Q1 |
| UMB Bank, n.a. trimmed | 241,567 | $12M | 0.4% | 2026-Q1 |
| SEI INVESTMENTS CO trimmed | 236,772 | $11M | 0.4% | 2026-Q1 |
| TD PRIVATE CLIENT WEALTH LLC trimmed | 216,392 | $10M | 0.4% | 2026-Q1 |
| Prime Capital Investment Advisors, LLC trimmed | 208,447 | $10M | 0.3% | 2026-Q1 |
| Cercano Management LLC trimmed | 206,569 | $10M | 0.3% | 2026-Q1 |
| TRUIST FINANCIAL CORP added | 200,992 | $10M | 0.3% | 2026-Q1 |
| Allworth Financial LP trimmed | 191,828 | $9M | 0.3% | 2026-Q1 |
| Symmetry Partners, LLC added | 187,965 | $9M | 0.3% | 2026-Q1 |
| BlackRock, Inc. added | 179,278 | $9M | 0.3% | 2026-Q1 |
| Waverly Advisors, LLC added | 178,906 | $9M | 0.3% | 2026-Q1 |
| TruNorth Capital Management, LLC added | 176,972 | $8M | 0.3% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 171,737 | $8M | 0.3% | 2026-Q1 |
| Empirical Financial Services, LLC d.b.a. Empirical Wealth Management added | 168,403 | $8M | 0.3% | 2026-Q1 |
| Beacon Pointe Advisors, LLC added | 155,382 | $7M | 0.3% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 154,673 | $7M | 0.3% | 2026-Q1 |
| TRUSTMARK BANK TRUST DEPARTMENT trimmed | 148,171 | $7M | 0.2% | 2026-Q1 |
| BENJAMIN EDWARDS INC added | 142,081 | $7M | 0.2% | 2026-Q1 |
| MY Wealth Management Inc. added | 137,994 | $7M | 0.2% | 2026-Q1 |
| Strategies Wealth Advisors, LLC added | 133,524 | $6M | 0.2% | 2026-Q1 |
| GenTrust, LLC trimmed | 130,595 | $6M | 0.2% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 126,198 | $6M | 0.2% | 2026-Q1 |
| Foster Group, Inc. trimmed | 121,164 | $6M | 0.2% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 117,076 | $6M | 0.2% | 2026-Q1 |
| Independent Advisor Alliance added | 114,992 | $6M | 0.2% | 2026-Q1 |
| Cerity Partners LLC trimmed | 109,612 | $5M | 0.2% | 2026-Q1 |
| McAdam, LLC added | 109,314 | $5M | 0.2% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 109,140 | $5M | 0.2% | 2026-Q1 |
| Karpus Management, Inc. trimmed | 107,350 | $5M | 0.2% | 2026-Q1 |
| Cullen/Frost Bankers, Inc. trimmed | 104,977 | $5M | 0.2% | 2026-Q1 |
| Orion Porfolio Solutions, LLC added | 104,717 | $5M | 0.2% | 2026-Q1 |
| Ackerman Capital Advisors, LLC trimmed | 103,005 | $5M | 0.2% | 2026-Q1 |
| Paulson Wealth Management Inc. trimmed | 102,017 | $5M | 0.2% | 2026-Q1 |
| Focus Partners Wealth trimmed | 100,827 | $5M | 0.2% | 2026-Q1 |
| AUA CAPITAL MANAGEMENT, LLC trimmed | 100,521 | $5M | 0.2% | 2026-Q1 |
| CHATHAM CAPITAL GROUP, INC. trimmed | 95,875 | $5M | 0.2% | 2026-Q1 |
| Precision Wealth Strategies, LLC trimmed | 92,536 | $4M | 0.2% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 88,151 | $4M | 0.1% | 2026-Q1 |
| Apella Capital, LLC added | 87,302 | $4M | 0.1% | 2026-Q1 |
| ASSETMARK, INC trimmed | 87,406 | $4M | 0.1% | 2026-Q1 |
| Brio Consultants, LLC trimmed | 85,152 | $4M | 0.1% | 2026-Q1 |
| Bragg Financial Advisors, Inc added | 80,104 | $4M | 0.1% | 2026-Q1 |
| Phillip James Consulting Co. new | 49,502 | $4M | 0.1% | 2026-Q1 |
| CWM, LLC trimmed | 78,569 | $4M | 0.1% | 2026-Q1 |
| Rockefeller Capital Management L.P. trimmed | 72,956 | $3M | 0.1% | 2026-Q1 |
| DAVIDSON INVESTMENT ADVISORS added | 71,942 | $3M | 0.1% | 2026-Q1 |
| Smithfield Trust Co | 70,927 | $3M | 0.1% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 70,349 | $3M | 0.1% | 2026-Q1 |
| Ameraudi Asset Management, Inc. | 70,077 | $3M | 0.1% | 2026-Q1 |
| JAMES INVESTMENT RESEARCH, INC. added | 69,944 | $3M | 0.1% | 2026-Q1 |
| Crestwood Advisors Group, LLC trimmed | 69,941 | $3M | 0.1% | 2026-Q1 |
| GAMMA Investing LLC added | 67,789 | $3M | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 67,068 | $3M | 0.1% | 2026-Q1 |
| RW Investment Management LLC trimmed | 65,258 | $3M | 0.1% | 2026-Q1 |
| Ascent Group, LLC trimmed | 63,714 | $3M | 0.1% | 2026-Q1 |
| Creative Planning added | 61,753 | $3M | 0.1% | 2026-Q1 |
| CONFLUENCE INVESTMENT MANAGEMENT LLC added | 61,292 | $3M | 0.1% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 57,581 | $3M | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 56,318 | $3M | 0.1% | 2026-Q1 |
| Tilson Financial Group, Inc. added | 56,194 | $3M | 0.1% | 2026-Q1 |
| EAGLE GLOBAL ADVISORS LLC added | 55,583 | $3M | 0.1% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 55,357 | $3M | 0.1% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 53,471 | $3M | 0.1% | 2026-Q1 |
| Detalus Advisors, LLC trimmed | 52,721 | $3M | 0.1% | 2026-Q1 |
| Focus Partners Advisor Solutions, LLC trimmed | 51,763 | $2M | 0.1% | 2026-Q1 |
| Columbia River Financial Group, LLC added | 51,301 | $2M | 0.1% | 2026-Q1 |
| Horizon Family Wealth, Inc. added | 51,062 | $2M | 0.1% | 2026-Q1 |
| OLD NATIONAL BANCORP /IN/ trimmed | 50,849 | $2M | 0.1% | 2026-Q1 |
| KESTRA PRIVATE WEALTH SERVICES, LLC added | 50,058 | $2M | 0.1% | 2026-Q1 |
| Charles Schwab Trust Co trimmed | 48,393 | $2M | 0.1% | 2026-Q1 |
| Quent Long Short Global Small Cap Fund, LP new | 1,789,151 | $86M | 2.9% | 2025-Q4 stale |
| PURE PORTFOLIOS HOLDINGS LLC added | 143,002 | $7M | 0.2% | 2025-Q4 stale |
| Orion Portfolio Solutions, LLC trimmed | 103,461 | $5M | 0.2% | 2025-Q1 stale |
| Janney Capital Management LLC added | 61,169 | $3M | 0.1% | 2025-Q4 stale |
| COMERICA BANK trimmed | 57,370 | $3M | 0.1% | 2025-Q4 stale |
| AVANTAX ADVISORY SERVICES, INC. trimmed | 52,386 | $3M | 0.1% | 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.