Who owns 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-Q2 13F filings (latest filed 2026-08-19). 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
80 tracked funds added or opened TBIL while 85 trimmed or exited it between 2026-Q1 and 2026-Q2 — 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 0.2% of theirs — a 0.2pp 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 2026-Q1 and 2026-Q2, across 306 tracked filers holding TBIL, 153 increased or opened the position and 172 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 2026-Q1 and 2026-Q2 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 16
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$13M
- SUCCESSION FINANCIAL, INC.$5M
- NewEdge Advisors, LLC$4M
- Arkadios Wealth Advisors$3M
- DAYMARK WEALTH PARTNERS, LLC$2M
- CITADEL ADVISORS LLC$1M
Full exits 24
- HighTower Advisors, LLC$89M
- JOURNEY STRATEGIC WEALTH LLC$42M
- Mirae Asset Global Investments Co., Ltd.$35M
- Integrated Wealth Concepts LLC$31M
- Cambridge Investment Research Advisors, Inc.$19M
- TCFG WEALTH MANAGEMENT, LLC$15M
Largest adds
- MORGAN STANLEY$88M
- STIFEL FINANCIAL CORP$58M
- LPL Financial LLC$18M
- NEUBERGER BERMAN GROUP LLC$14M
- VanWeelden Wealth Management, LLC$12M
- WELLS FARGO & COMPANY/MN$12M
Largest trims
- Independent Advisor Alliance$57M
- Stratos Wealth Partners, LTD.$26M
- TOTAL INVESTMENT MANAGEMENT INC$13M
- SCOTIA CAPITAL INC.$8M
- Mariner, LLC$6M
- Savvy Advisors, Inc.$6M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| MORGAN STANLEY added | 12,835,609 | $640M | 21.4% | 2026-Q2 |
| LPL Financial LLC added | 11,182,265 | $558M | 18.7% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 3,551,219 | $177M | 5.9% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 3,542,975 | $177M | 5.9% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 3,354,595 | $167M | 5.6% | 2026-Q2 |
| Obermeyer Wealth Partners added | 1,498,328 | $75M | 2.5% | 2026-Q2 |
| Private Advisor Group, LLC added | 1,084,853 | $54M | 1.8% | 2026-Q2 |
| BENJAMIN EDWARDS INC added | 1,065,523 | $53M | 1.8% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 994,825 | $50M | 1.7% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 951,425 | $47M | 1.6% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 833,243 | $42M | 1.4% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC added | 832,046 | $41M | 1.4% | 2026-Q2 |
| F/m Investments LLC trimmed | 825,437 | $41M | 1.4% | 2026-Q2 |
| UBS Group AG trimmed | 668,134 | $33M | 1.1% | 2026-Q2 |
| Equitable Holdings, Inc. trimmed | 655,209 | $33M | 1.1% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC added | 590,929 | $29M | 1.0% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC added | 562,324 | $28M | 0.9% | 2026-Q2 |
| Capital Investment Counsel, Inc added | 528,870 | $26M | 0.9% | 2026-Q2 |
| Cetera Investment Advisers added | 472,998 | $24M | 0.8% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 425,965 | $21M | 0.7% | 2026-Q2 |
| Kestra Advisory Services, LLC trimmed | 399,088 | $20M | 0.7% | 2026-Q2 |
| IBEX WEALTH ADVISORS trimmed | 390,210 | $19M | 0.7% | 2026-Q2 |
| CENTRAL TRUST Co added | 385,887 | $19M | 0.6% | 2026-Q2 |
| Stratos Wealth Partners, LTD. trimmed | 384,417 | $19M | 0.6% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 356,748 | $18M | 0.6% | 2026-Q2 |
| Savvy Advisors, Inc. trimmed | 347,022 | $17M | 0.6% | 2026-Q2 |
| FLPUTNAM INVESTMENT MANAGEMENT CO trimmed | 345,273 | $17M | 0.6% | 2026-Q2 |
| Proactive Wealth Strategies LLC added | 332,352 | $17M | 0.6% | 2026-Q2 |
| B & T Capital Management DBA Alpha Capital Management added | 326,051 | $16M | 0.5% | 2026-Q2 |
| Mariner, LLC trimmed | 314,923 | $16M | 0.5% | 2026-Q2 |
| Sterling Group Wealth Management, LLC added | 292,952 | $15M | 0.5% | 2026-Q2 |
| Alpine Bank Wealth Management added | 292,448 | $15M | 0.5% | 2026-Q2 |
| Family Office Research LLC added | 278,261 | $14M | 0.5% | 2026-Q2 |
| Arax Advisory Partners added | 266,155 | $13M | 0.4% | 2026-Q2 |
| Avidian Wealth Enterprises, LLC trimmed | 264,283 | $13M | 0.4% | 2026-Q2 |
| MBL Wealth, LLC added | 258,051 | $13M | 0.4% | 2026-Q2 |
| VanWeelden Wealth Management, LLC added | 254,378 | $13M | 0.4% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 252,531 | $13M | 0.4% | 2026-Q2 |
| Generation Capital Management LLC trimmed | 251,388 | $13M | 0.4% | 2026-Q2 |
| Strait & Sound Wealth Management LLC added | 243,992 | $12M | 0.4% | 2026-Q2 |
| Tidal Investments LLC trimmed | 235,703 | $12M | 0.4% | 2026-Q2 |
| Creative Planning added | 233,332 | $12M | 0.4% | 2026-Q2 |
| TCFG Investment Advisors, LLC trimmed | 229,915 | $11M | 0.4% | 2026-Q2 |
| Wealthquest Corp trimmed | 221,786 | $11M | 0.4% | 2026-Q2 |
| Pinnacle Financial Partners, Inc. trimmed | 219,117 | $11M | 0.4% | 2026-Q2 |
| EP Wealth Advisors, LLC trimmed | 201,407 | $10M | 0.3% | 2026-Q2 |
| Revolve Wealth Partners, LLC added | 194,142 | $10M | 0.3% | 2026-Q2 |
| TRUIST FINANCIAL CORP added | 191,818 | $10M | 0.3% | 2026-Q2 |
| SCOTIA CAPITAL INC. trimmed | 191,640 | $10M | 0.3% | 2026-Q2 |
| Intrua Financial, LLC added | 179,161 | $9M | 0.3% | 2026-Q2 |
| MONEY CONCEPTS CAPITAL CORP added | 176,293 | $9M | 0.3% | 2026-Q2 |
| Western Wealth Management, LLC trimmed | 171,661 | $9M | 0.3% | 2026-Q2 |
| Apella Capital, LLC added | 171,558 | $9M | 0.3% | 2026-Q2 |
| Coign Capital Advisors LLC trimmed | 171,315 | $9M | 0.3% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 167,283 | $8M | 0.3% | 2026-Q2 |
| RFG Advisory, LLC added | 161,207 | $8M | 0.3% | 2026-Q2 |
| Wealthspire Retirement, LLC trimmed | 150,849 | $8M | 0.3% | 2026-Q2 |
| Spinnaker Investment Group, LLC added | 150,256 | $7M | 0.3% | 2026-Q2 |
| First Heartland Consultants, Inc. added | 145,921 | $7M | 0.2% | 2026-Q2 |
| Clear Creek Financial Management, LLC added | 143,368 | $7M | 0.2% | 2026-Q2 |
| Hilton Capital Management, LLC added | 141,340 | $7M | 0.2% | 2026-Q2 |
| TOTAL INVESTMENT MANAGEMENT INC trimmed | 139,261 | $7M | 0.2% | 2026-Q2 |
| &PARTNERS trimmed | 137,090 | $7M | 0.2% | 2026-Q2 |
| AE Wealth Management LLC added | 131,916 | $7M | 0.2% | 2026-Q2 |
| Pinnacle Wealth Management Group, Inc. added | 125,083 | $6M | 0.2% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 124,890 | $6M | 0.2% | 2026-Q2 |
| Cypress Capital, LLC added | 119,748 | $6M | 0.2% | 2026-Q2 |
| Ameritas Advisory Services, LLC added | 116,773 | $6M | 0.2% | 2026-Q2 |
| IFG Advisory, LLC added | 112,142 | $6M | 0.2% | 2026-Q2 |
| Farther Finance Advisors, LLC added | 106,276 | $5M | 0.2% | 2026-Q2 |
| KINGSWOOD WEALTH ADVISORS, LLC added | 105,736 | $5M | 0.2% | 2026-Q2 |
| Founders Financial Alliance, LLC added | 105,550 | $5M | 0.2% | 2026-Q2 |
| Fortis Group Advisors, LLC trimmed | 102,248 | $5M | 0.2% | 2026-Q2 |
| SUCCESSION FINANCIAL, INC. new | 96,714 | $5M | 0.2% | 2026-Q2 |
| Sovereign Financial Group, Inc. trimmed | 96,299 | $5M | 0.2% | 2026-Q2 |
| VISION FINANCIAL MARKETS LLC trimmed | 95,685 | $5M | 0.2% | 2026-Q2 |
| Forum Financial Management, LP trimmed | 95,590 | $5M | 0.2% | 2026-Q2 |
| Beacon Pointe Advisors, LLC added | 89,306 | $4M | 0.1% | 2026-Q2 |
| NewEdge Advisors, LLC added | 80,553 | $4M | 0.1% | 2026-Q2 |
| Global View Capital Management LLC added | 79,664 | $4M | 0.1% | 2026-Q2 |
| DAVENPORT & Co LLC trimmed | 79,589 | $4M | 0.1% | 2026-Q2 |
| Sage Mountain Advisors LLC added | 78,922 | $4M | 0.1% | 2026-Q2 |
| Wealthcare Advisory Partners LLC trimmed | 75,134 | $4M | 0.1% | 2026-Q2 |
| Formidable Asset Management, LLC trimmed | 74,459 | $4M | 0.1% | 2026-Q2 |
| Copia Wealth Management trimmed | 72,224 | $4M | 0.1% | 2026-Q2 |
| Mutual Advisors, LLC trimmed | 71,756 | $4M | 0.1% | 2026-Q2 |
| Arkadios Wealth Advisors added | 67,480 | $3M | 0.1% | 2026-Q2 |
| Independent Advisor Alliance trimmed | 66,452 | $3M | 0.1% | 2026-Q2 |
| MATAURO, LLC trimmed | 64,552 | $3M | 0.1% | 2026-Q2 |
| World Investment Advisors trimmed | 58,613 | $3M | 0.1% | 2026-Q2 |
| MGO ONE SEVEN LLC added | 56,935 | $3M | 0.1% | 2026-Q2 |
| Bright Futures Wealth Management, LLC. trimmed | 56,140 | $3M | 0.1% | 2026-Q2 |
| INDEPENDENT FINANCIAL GROUP, LLC trimmed | 56,120 | $3M | 0.1% | 2026-Q2 |
| Rockport Wealth LLC added | 56,095 | $3M | 0.1% | 2026-Q2 |
| KESTRA PRIVATE WEALTH SERVICES, LLC trimmed | 54,187 | $3M | 0.1% | 2026-Q2 |
| FLAGSHIP HARBOR ADVISORS, LLC trimmed | 52,727 | $3M | 0.1% | 2026-Q2 |
| Crew Capital Management, Ltd trimmed | 52,418 | $3M | 0.1% | 2026-Q2 |
| FIFTH THIRD BANCORP added | 51,318 | $3M | 0.1% | 2026-Q2 |
| PARR MCKNIGHT WEALTH MANAGEMENT GROUP, LLC added | 50,589 | $3M | 0.1% | 2026-Q2 |
| Kingsview Wealth Management, LLC trimmed | 50,140 | $2M | 0.1% | 2026-Q2 |
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.