Who owns SPDN
Which tracked institutional funds hold SPDN, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SPDN company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-22). 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
19 tracked funds added or opened SPDN while 7 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
SPDN’s largest tracked holder by dollar value, LEUTHOLD GROUP, LLC, sizes it at 3.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 3.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SPDN 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 51 tracked filers holding SPDN, 37 increased or opened the position and 16 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 SPDN 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 4
- Ascentis Independent Advisors$2M
- January Capital Advisors LLC$2M
- XTX Topco Ltd$1M
- MERCER GLOBAL ADVISORS INC /ADV$1M
Full exits 4
- NewEdge Advisors, LLC$5M
- Quadrature Capital Ltd$2M
- SB Capital Management Inc$1M
- Virtu Financial LLC$920K
Largest adds
- LEUTHOLD GROUP, LLC$9M
- IMC-Chicago, LLC$7M
- ONE PLUS ONE WEALTH MANAGEMENT, LLC$4M
- ENVESTNET ASSET MANAGEMENT INC$3M
- Rockport Wealth LLC$3M
- Moors & Cabot, Inc.$1M
Largest trims
- CITADEL ADVISORS LLC$1M
- HARMONY ASSET MANAGEMENT LLC$967K
- Advisory Services Network, LLC$324K
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 |
|---|---|---|---|---|
| LEUTHOLD GROUP, LLC added | 3,074,122 | $31M | 16.2% | 2026-Q1 |
| Rockport Wealth LLC added | 2,904,522 | $29M | 15.3% | 2026-Q1 |
| ONE PLUS ONE WEALTH MANAGEMENT, LLC added | 1,403,480 | $14M | 7.4% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 996,482 | $10M | 5.3% | 2026-Q1 |
| IMC-Chicago, LLC added | 974,315 | $10M | 5.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 531,667 | $5M | 2.8% | 2026-Q1 |
| LPL Financial LLC added | 245,591 | $2M | 1.3% | 2026-Q1 |
| Ascentis Independent Advisors new | 223,814 | $2M | 1.2% | 2026-Q1 |
| AXXCESS WEALTH MANAGEMENT, LLC added | 219,645 | $2M | 1.2% | 2026-Q1 |
| January Capital Advisors LLC new | 198,739 | $2M | 1.0% | 2026-Q1 |
| Allred Capital Management, LLC added | 186,144 | $2M | 1.0% | 2026-Q1 |
| Moors & Cabot, Inc. added | 166,681 | $2M | 0.9% | 2026-Q1 |
| CHOREO, LLC added | 154,512 | $2M | 0.8% | 2026-Q1 |
| Cushing Capital Partners, LLC added | 152,745 | $2M | 0.8% | 2026-Q1 |
| XTX Topco Ltd added | 146,799 | $1M | 0.8% | 2026-Q1 |
| VERUS CAPITAL PARTNERS, LLC added | 142,931 | $1M | 0.8% | 2026-Q1 |
| Tidal Investments LLC added | 135,734 | $1M | 0.7% | 2026-Q1 |
| SHEPHERD KAPLAN KROCHUK, LLC trimmed | 134,712 | $1M | 0.7% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV new | 129,485 | $1M | 0.7% | 2026-Q1 |
| Maltin Wealth Management, Inc. added | 124,238 | $1M | 0.7% | 2026-Q1 |
| Fortis Advisors, LLC added | 102,300 | $1M | 0.5% | 2026-Q1 |
| 4WEALTH ADVISORS, INC. added | 80,746 | $826K | 0.4% | 2026-Q1 |
| TWO SIGMA SECURITIES, LLC added | 58,188 | $579K | 0.3% | 2026-Q1 |
| Resonant Capital Advisors, LLC added | 51,477 | $512K | 0.3% | 2026-Q1 |
| Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors added | 49,210 | $490K | 0.3% | 2026-Q1 |
| Galvin, Gaustad & Stein, LLC added | 47,931 | $477K | 0.3% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 42,230 | $420K | 0.2% | 2026-Q1 |
| FLOW TRADERS U.S. LLC trimmed | 37,436 | $372K | 0.2% | 2026-Q1 |
| Mirae Asset Global Investments Co., Ltd. added | 35,900 | $357K | 0.2% | 2026-Q1 |
| ASPIRIANT, LLC | 29,790 | $296K | 0.2% | 2026-Q1 |
| HARMONY ASSET MANAGEMENT LLC trimmed | 26,707 | $266K | 0.1% | 2026-Q1 |
| Lifeworks Advisors, LLC added | 24,469 | $243K | 0.1% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS trimmed | 20,576 | $205K | 0.1% | 2026-Q1 |
| Belpointe Asset Management LLC trimmed | 20,110 | $200K | 0.1% | 2026-Q1 |
| A. D. Beadell Investment Counsel, Inc. added | 20,000 | $199K | 0.1% | 2026-Q1 |
| HBK Sorce Advisory LLC new | 20,000 | $176K | 0.1% | 2026-Q1 |
| Waverly Advisors, LLC new | 13,664 | $136K | 0.1% | 2026-Q1 |
| Cornerstone Wealth Management, LLC new | 11,000 | $109K | 0.1% | 2026-Q1 |
| Capstone Financial Advisors, Inc. new | 10,547 | $105K | 0.1% | 2026-Q1 |
| Strait & Sound Wealth Management LLC new | 10,000 | $100K | 0.1% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC | 5,149 | $51K | 0.0% | 2026-Q1 |
| SBI Securities Co., Ltd. trimmed | 3,490 | $35K | 0.0% | 2026-Q1 |
| Advisory Services Network, LLC trimmed | 3,403 | $34K | 0.0% | 2026-Q1 |
| Qube Research & Technologies Ltd trimmed | 2,099 | $21K | 0.0% | 2026-Q1 |
| Spire Wealth Management added | 969 | $10K | 0.0% | 2026-Q1 |
| SIMPLEX TRADING, LLC added | 829 | $8K | 0.0% | 2026-Q1 |
| UBS Group AG added | 201 | $2K | 0.0% | 2026-Q1 |
| Tower Research Capital LLC (TRC) added | 110 | $1K | 0.0% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 13 | $133 | 0.0% | 2026-Q1 |
| MORGAN STANLEY added | 2 | $25 | 0.0% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN | 1 | $8 | 0.0% | 2026-Q1 |
| TTP Investments, Inc. new | 1,144,065 | $13M | 7.0% | 2025-Q1 stale |
| Legacy Capital Wealth Partners, LLC new | 1,017,329 | $12M | 6.3% | 2025-Q1 stale |
| Arkadios Wealth Advisors added | 894,034 | $9M | 4.6% | 2025-Q3 stale |
| NewEdge Advisors, LLC added | 496,250 | $5M | 2.5% | 2025-Q4 stale |
| PVG ASSET MANAGEMENT CORP added | 351,871 | $4M | 2.2% | 2025-Q1 stale |
| Jump Financial, LLC added | 382,037 | $4M | 1.9% | 2025-Q3 stale |
| Quadrature Capital Ltd added | 215,757 | $2M | 1.1% | 2025-Q4 stale |
| JANE STREET GROUP, LLC trimmed | 152,519 | $1M | 0.8% | 2025-Q3 stale |
| RIA Advisory Group LLC added | 114,990 | $1M | 0.7% | 2025-Q1 stale |
| HRT FINANCIAL LP trimmed | 129,356 | $1M | 0.7% | 2025-Q3 stale |
| SB Capital Management Inc new | 109,330 | $1M | 0.5% | 2025-Q4 stale |
| Texas Yale Capital Corp. added | 100,000 | $961K | 0.5% | 2025-Q3 stale |
| Virtu Financial LLC added | 97,579 | $920K | 0.5% | 2025-Q4 stale |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 70,700 | $679K | 0.4% | 2025-Q3 stale |
| NVWM, LLC trimmed | 44,600 | $517K | 0.3% | 2025-Q1 stale |
| Atria Investments, Inc new | 39,454 | $457K | 0.2% | 2025-Q1 stale |
| GTS SECURITIES LLC trimmed | 34,324 | $353K | 0.2% | 2025-Q2 stale |
| Oxinas Partners Wealth Management LLC new | 26,109 | $303K | 0.2% | 2025-Q1 stale |
| MOULTON WEALTH MANAGEMENT, INC trimmed | 30,161 | $290K | 0.2% | 2025-Q3 stale |
| Avior Wealth Management, LLC added | 27,098 | $279K | 0.1% | 2025-Q2 stale |
| SwitchPoint Financial Planning, LLC | 19,354 | $224K | 0.1% | 2025-Q1 stale |
| TOWNSQUARE CAPITAL LLC trimmed | 16,159 | $187K | 0.1% | 2025-Q1 stale |
| IHT Wealth Management, LLC new | 15,400 | $159K | 0.1% | 2025-Q2 stale |
| Intellectus Partners, LLC trimmed | 15,000 | $157K | 0.1% | 2025-Q2 stale |
| NovaPoint Capital, LLC trimmed | 14,107 | $145K | 0.1% | 2025-Q2 stale |
| Beacon Pointe Advisors, LLC trimmed | 14,800 | $142K | 0.1% | 2025-Q3 stale |
| ALLIUM FINANCIAL ADVISORS, LLC | 10,716 | $110K | 0.1% | 2025-Q2 stale |
| Focus Partners Wealth trimmed | 10,621 | $109K | 0.1% | 2025-Q2 stale |
| Headlands Technologies LLC added | 3,558 | $41K | 0.0% | 2025-Q1 stale |
| Belmont Capital, LLC added | 3,243 | $38K | 0.0% | 2025-Q1 stale |
| ORG Partners LLC trimmed | 2,211 | $21K | 0.0% | 2025-Q4 stale |
| THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. | 420 | $4K | 0.0% | 2025-Q2 stale |
| OSAIC HOLDINGS, INC. | 225 | $2K | 0.0% | 2025-Q2 stale |
| AllSquare Wealth Management LLC | 100 | $961 | 0.0% | 2025-Q3 stale |
| Darwin Wealth Management, LLC | 87 | $836 | 0.0% | 2025-Q3 stale |
| Legacy Wealth Managment, LLC/ID new | 20 | $232 | 0.0% | 2025-Q1 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.