Who owns TBIL (TBIL)
Which tracked institutional funds hold TBIL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See TBIL 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
98 tracked funds added or opened TBIL while 74 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
TBIL’s largest tracked holder by dollar value, MORGAN STANLEY, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.3% of theirs — a 0.3pp gap the other way — the median holder sizes TBIL more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in TBIL 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 319 tracked filers holding TBIL, 163 increased or opened the position and 155 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 TBIL 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 26
- TCFG Investment Advisors, LLC$15M
- Western Wealth Management, LLC$9M
- Apella Capital, LLC$7M
- Arax Advisory Partners$5M
- Bright Futures Wealth Management, LLC.$4M
- FIFTH THIRD BANCORP$2M
Full exits 14
- Divergent Planning, LLC$11M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$7M
- FLOW TRADERS U.S. LLC$4M
- Kraft, Davis & Associates, LLC$4M
- KW WEALTH MANAGEMENT LLC$3M
- B. Riley Wealth Advisors, Inc.$2M
Largest adds
- HighTower Advisors, LLC$86M
- WELLS FARGO & COMPANY/MN$62M
- MORGAN STANLEY$62M
- RAYMOND JAMES FINANCIAL INC$59M
- Independent Advisor Alliance$58M
- LPL Financial LLC$50M
Largest trims
- WEALTH ENHANCEMENT ADVISORY SERVICES, LLC$50M
- MML INVESTORS SERVICES, LLC$32M
- Mariner, LLC$30M
- TOTAL INVESTMENT MANAGEMENT INC$30M
- AQR CAPITAL MANAGEMENT LLC$23M
- Revolve Wealth Partners, LLC$18M
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 |
|---|---|---|---|---|
| MORGAN STANLEY added | 11,062,128 | $552M | 17.1% | 2026-Q1 |
| LPL Financial LLC added | 10,830,953 | $540M | 16.7% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 3,579,081 | $178M | 5.5% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 3,121,357 | $156M | 4.8% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 2,384,390 | $119M | 3.7% | 2026-Q1 |
| HighTower Advisors, LLC added | 1,789,175 | $89M | 2.8% | 2026-Q1 |
| Obermeyer Wealth Partners added | 1,398,165 | $70M | 2.2% | 2026-Q1 |
| Independent Advisor Alliance added | 1,210,006 | $60M | 1.9% | 2026-Q1 |
| Private Advisor Group, LLC added | 1,038,879 | $52M | 1.6% | 2026-Q1 |
| BENJAMIN EDWARDS INC trimmed | 1,032,523 | $51M | 1.6% | 2026-Q1 |
| F/m Investments LLC added | 911,142 | $45M | 1.4% | 2026-Q1 |
| Stratos Wealth Partners, LTD. added | 897,548 | $45M | 1.4% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 849,566 | $42M | 1.3% | 2026-Q1 |
| JOURNEY STRATEGIC WEALTH LLC trimmed | 832,583 | $42M | 1.3% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 786,140 | $39M | 1.2% | 2026-Q1 |
| Equitable Holdings, Inc. added | 777,872 | $39M | 1.2% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 761,639 | $38M | 1.2% | 2026-Q1 |
| Mirae Asset Global Investments Co., Ltd. trimmed | 697,000 | $35M | 1.1% | 2026-Q1 |
| UBS Group AG added | 688,894 | $34M | 1.1% | 2026-Q1 |
| Integrated Wealth Concepts LLC added | 619,227 | $31M | 1.0% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 618,778 | $31M | 1.0% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC added | 559,497 | $28M | 0.9% | 2026-Q1 |
| Savvy Advisors, Inc. added | 472,758 | $24M | 0.7% | 2026-Q1 |
| Capital Investment Counsel, Inc added | 458,779 | $23M | 0.7% | 2026-Q1 |
| Cetera Investment Advisers added | 444,339 | $22M | 0.7% | 2026-Q1 |
| Mariner, LLC trimmed | 444,060 | $22M | 0.7% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 418,273 | $21M | 0.6% | 2026-Q1 |
| FLPUTNAM INVESTMENT MANAGEMENT CO added | 415,367 | $21M | 0.6% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 410,021 | $20M | 0.6% | 2026-Q1 |
| TOTAL INVESTMENT MANAGEMENT INC trimmed | 391,225 | $20M | 0.6% | 2026-Q1 |
| IBEX WEALTH ADVISORS added | 390,826 | $19M | 0.6% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. trimmed | 387,986 | $19M | 0.6% | 2026-Q1 |
| CENTRAL TRUST Co trimmed | 378,955 | $19M | 0.6% | 2026-Q1 |
| SCOTIA CAPITAL INC. trimmed | 347,872 | $17M | 0.5% | 2026-Q1 |
| Proactive Wealth Strategies LLC added | 331,021 | $17M | 0.5% | 2026-Q1 |
| Tidal Investments LLC added | 320,751 | $16M | 0.5% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC added | 305,978 | $15M | 0.5% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 301,437 | $15M | 0.5% | 2026-Q1 |
| TCFG WEALTH MANAGEMENT, LLC added | 300,070 | $15M | 0.5% | 2026-Q1 |
| TCFG Investment Advisors, LLC new | 300,070 | $15M | 0.5% | 2026-Q1 |
| Avidian Wealth Enterprises, LLC trimmed | 285,774 | $14M | 0.4% | 2026-Q1 |
| Pinnacle Financial Partners, Inc. added | 277,897 | $14M | 0.4% | 2026-Q1 |
| Sterling Group Wealth Management, LLC added | 275,302 | $14M | 0.4% | 2026-Q1 |
| Baird Financial Group, Inc. added | 259,371 | $13M | 0.4% | 2026-Q1 |
| Generation Capital Management LLC trimmed | 258,647 | $13M | 0.4% | 2026-Q1 |
| Wealthquest Corp | 250,202 | $12M | 0.4% | 2026-Q1 |
| Strait & Sound Wealth Management LLC added | 238,775 | $12M | 0.4% | 2026-Q1 |
| Family Office Research LLC trimmed | 231,612 | $12M | 0.4% | 2026-Q1 |
| MBL Wealth, LLC added | 224,867 | $11M | 0.3% | 2026-Q1 |
| Alpine Bank Wealth Management trimmed | 220,212 | $11M | 0.3% | 2026-Q1 |
| EP Wealth Advisors, LLC added | 213,897 | $11M | 0.3% | 2026-Q1 |
| Creative Planning added | 185,314 | $9M | 0.3% | 2026-Q1 |
| Western Wealth Management, LLC added | 185,183 | $9M | 0.3% | 2026-Q1 |
| Coign Capital Advisors LLC trimmed | 184,828 | $9M | 0.3% | 2026-Q1 |
| MONEY CONCEPTS CAPITAL CORP added | 175,189 | $9M | 0.3% | 2026-Q1 |
| Wealthspire Retirement, LLC added | 161,730 | $8M | 0.2% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 154,055 | $8M | 0.2% | 2026-Q1 |
| RFG Advisory, LLC added | 153,640 | $8M | 0.2% | 2026-Q1 |
| &PARTNERS added | 142,456 | $7M | 0.2% | 2026-Q1 |
| Clear Creek Financial Management, LLC trimmed | 138,611 | $7M | 0.2% | 2026-Q1 |
| First Heartland Consultants, Inc. added | 135,140 | $7M | 0.2% | 2026-Q1 |
| Apella Capital, LLC new | 134,164 | $7M | 0.2% | 2026-Q1 |
| Revolve Wealth Partners, LLC trimmed | 131,872 | $7M | 0.2% | 2026-Q1 |
| Pinnacle Wealth Management Group, Inc. trimmed | 124,179 | $6M | 0.2% | 2026-Q1 |
| MANCHESTER FINANCIAL INC trimmed | 123,867 | $6M | 0.2% | 2026-Q1 |
| B & T Capital Management DBA Alpha Capital Management trimmed | 121,885 | $6M | 0.2% | 2026-Q1 |
| Intrua Financial, LLC added | 118,624 | $6M | 0.2% | 2026-Q1 |
| Fortis Group Advisors, LLC added | 118,617 | $6M | 0.2% | 2026-Q1 |
| Fiduciary Alliance LLC trimmed | 112,975 | $6M | 0.2% | 2026-Q1 |
| Arax Advisory Partners added | 108,306 | $5M | 0.2% | 2026-Q1 |
| Jaffetilchin Investment Partners, LLC added | 106,883 | $5M | 0.2% | 2026-Q1 |
| Cypress Capital, LLC added | 105,573 | $5M | 0.2% | 2026-Q1 |
| Sovereign Financial Group, Inc. trimmed | 105,564 | $5M | 0.2% | 2026-Q1 |
| KESTRA PRIVATE WEALTH SERVICES, LLC trimmed | 103,921 | $5M | 0.2% | 2026-Q1 |
| VISION FINANCIAL MARKETS LLC trimmed | 103,088 | $5M | 0.2% | 2026-Q1 |
| Founders Financial Alliance, LLC added | 101,638 | $5M | 0.2% | 2026-Q1 |
| Forum Financial Management, LP added | 95,990 | $5M | 0.1% | 2026-Q1 |
| Hilton Capital Management, LLC trimmed | 95,045 | $5M | 0.1% | 2026-Q1 |
| Spinnaker Investment Group, LLC trimmed | 93,327 | $5M | 0.1% | 2026-Q1 |
| Ashton Thomas Private Wealth, LLC added | 93,304 | $5M | 0.1% | 2026-Q1 |
| World Investment Advisors trimmed | 92,350 | $5M | 0.1% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 92,286 | $5M | 0.1% | 2026-Q1 |
| Lido Advisors, LLC trimmed | 90,838 | $5M | 0.1% | 2026-Q1 |
| Wealthcare Advisory Partners LLC trimmed | 88,812 | $4M | 0.1% | 2026-Q1 |
| DAVENPORT & Co LLC trimmed | 82,953 | $4M | 0.1% | 2026-Q1 |
| Copia Wealth Management trimmed | 78,709 | $4M | 0.1% | 2026-Q1 |
| Formidable Asset Management, LLC trimmed | 76,903 | $4M | 0.1% | 2026-Q1 |
| Global View Capital Management LLC trimmed | 76,206 | $4M | 0.1% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 2,293,700 | $115M | 3.6% | 2025-Q1 stale |
| Moloney Securities Asset Management, LLC trimmed | 345,301 | $17M | 0.5% | 2025-Q3 stale |
| GRIES FINANCIAL LLC trimmed | 242,146 | $12M | 0.4% | 2025-Q3 stale |
| Divergent Planning, LLC added | 227,379 | $11M | 0.4% | 2025-Q4 stale |
| Advisor Resource Council added | 217,336 | $11M | 0.3% | 2025-Q1 stale |
| Tower Research Capital LLC (TRC) added | 217,126 | $11M | 0.3% | 2025-Q3 stale |
| RIA Advisory Group LLC added | 175,044 | $9M | 0.3% | 2025-Q2 stale |
| CITADEL ADVISORS LLC added | 160,665 | $8M | 0.2% | 2025-Q2 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 150,315 | $7M | 0.2% | 2025-Q4 stale |
| SYNOVUS FINANCIAL CORP added | 146,051 | $7M | 0.2% | 2025-Q3 stale |
| Semmax Financial Advisors Inc. trimmed | 110,452 | $6M | 0.2% | 2025-Q2 stale |
| FLOW TRADERS U.S. LLC added | 83,634 | $4M | 0.1% | 2025-Q4 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.