Who owns SPBW (SPBW)
Which tracked institutional funds hold SPBW, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SPBW 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 SPBW is one-sided between 2025-Q4 and 2026-Q1: 8 added or opened and 2 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
SPBW’s largest tracked holder by dollar value, AE Wealth Management LLC, sizes it at 0.1% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.1pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SPBW 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 27 tracked filers holding SPBW, 20 increased or opened the position and 8 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 SPBW 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 3
- EVOLUTION WEALTH MANAGEMENT INC.$3M
- OLD MISSION CAPITAL LLC$973K
- OSAIC HOLDINGS, INC.$813K
Largest adds
- Cambridge Investment Research Advisors, Inc.$2M
- AE Wealth Management LLC$2M
- INDEPENDENT FINANCIAL GROUP, LLC$624K
- Kestra Advisory Services, LLC$587K
- Cetera Investment Advisers$260K
Largest trims
- NewEdge Advisors, LLC$3M
- Allianz SE$2M
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 |
|---|---|---|---|---|
| AE Wealth Management LLC added | 446,281 | $12M | 22.1% | 2026-Q1 |
| Allianz SE trimmed | 277,080 | $8M | 13.7% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 179,794 | $5M | 8.9% | 2026-Q1 |
| INDEPENDENT FINANCIAL GROUP, LLC added | 159,012 | $4M | 7.9% | 2026-Q1 |
| EVOLUTION WEALTH MANAGEMENT INC. new | 125,237 | $3M | 6.2% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 124,727 | $3M | 6.2% | 2026-Q1 |
| Cetera Investment Advisers added | 46,985 | $1M | 2.3% | 2026-Q1 |
| OLD MISSION CAPITAL LLC new | 35,735 | $973K | 1.8% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 29,878 | $813K | 1.5% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 29,735 | $809K | 1.5% | 2026-Q1 |
| CENTAURUS FINANCIAL, INC. added | 23,454 | $638K | 1.2% | 2026-Q1 |
| Compound Planning, Inc. trimmed | 20,929 | $570K | 1.0% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 20,787 | $566K | 1.0% | 2026-Q1 |
| Castle Rock Wealth Management, LLC | 20,100 | $549K | 1.0% | 2026-Q1 |
| CreativeOne Wealth, LLC | 16,926 | $461K | 0.8% | 2026-Q1 |
| Patriot Financial Group Insurance Agency, LLC added | 15,072 | $410K | 0.7% | 2026-Q1 |
| BridgePort Financial Solutions, LLC added | 11,843 | $322K | 0.6% | 2026-Q1 |
| DIVERSIFY WEALTH MANAGEMENT, LLC new | 9,150 | $258K | 0.5% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC new | 9,148 | $249K | 0.5% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 8,891 | $242K | 0.4% | 2026-Q1 |
| Strategic Financial Concepts, LLC | 8,353 | $227K | 0.4% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. trimmed | 4,964 | $135K | 0.2% | 2026-Q1 |
| NewEdge Advisors, LLC added | 114,971 | $115K | 0.2% | 2026-Q1 |
| IFP Advisors, Inc added | 2,595 | $71K | 0.1% | 2026-Q1 |
| Mosley Wealth Management new | 1,048 | $28K | 0.1% | 2026-Q1 |
| Key Capital Management, INC trimmed | 257 | $7K | 0.0% | 2026-Q1 |
| UBS Group AG added | 199 | $5K | 0.0% | 2026-Q1 |
| Allianz Investment Management U.S. LLC trimmed | 372,080 | $10M | 18.2% | 2025-Q3 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP new | 15,704 | $408K | 0.7% | 2025-Q2 stale |
| Lloyd Advisory Services, LLC. new | 4,445 | $122K | 0.2% | 2025-Q4 stale |
| OPTIMA CAPITAL LLC new | 2,151 | $59K | 0.1% | 2025-Q4 stale |
| BANK OF AMERICA CORP /DE/ trimmed | 1,389 | $38K | 0.1% | 2025-Q4 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.