Who owns TMF (TMF)
Which tracked institutional funds hold TMF, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See TMF 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
13 tracked funds added or opened TMF while 14 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
TMF’s largest tracked holder by dollar value, Maple Rock Capital Partners Inc., sizes it at 1.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 1.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in TMF 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 46 tracked filers holding TMF, 24 increased or opened the position and 31 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 TMF 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 5
- HRT FINANCIAL LP$15M
- Walleye Trading LLC$4M
- Optiver Holding B.V.$4M
- RAFFLES ASSOCIATES LP$2M
- Encompass More Asset Management$550K
Full exits 6
- Quadrature Capital Ltd$7M
- Marex Group plc$5M
- IMC-Chicago, LLC$1M
- FLOW TRADERS U.S. LLC$1M
- BLUEFIN CAPITAL MANAGEMENT, LLC$511K
- SUMMIT SECURITIES GROUP LLC$504K
Largest adds
- BANK OF MONTREAL /CAN/$16M
- CITADEL ADVISORS LLC$12M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$6M
- SIMPLEX TRADING, LLC$2M
- ROYAL BANK OF CANADA$512K
- PPSC Investment Service Corp$479K
Largest trims
- GROUP ONE TRADING LLC$4M
- UBS Group AG$4M
- SBI Securities Co., Ltd.$3M
- JPMORGAN CHASE & CO$2M
- CITIGROUP INC$2M
- PING CAPITAL MANAGEMENT, INC.$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 |
|---|---|---|---|---|
| SBI Securities Co., Ltd. trimmed | 510,223 | $18M | 7.3% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 480,050 | $17M | 6.8% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 471,166 | $17M | 6.7% | 2026-Q1 |
| HRT FINANCIAL LP added | 424,509 | $15M | 6.0% | 2026-Q1 |
| PPSC Investment Service Corp added | 292,079 | $11M | 4.2% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 219,969 | $8M | 3.1% | 2026-Q1 |
| SIMPLEX TRADING, LLC added | 173,012 | $6M | 2.5% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 136,652 | $5M | 1.9% | 2026-Q1 |
| UBS Group AG trimmed | 132,734 | $5M | 1.9% | 2026-Q1 |
| Walleye Trading LLC added | 118,800 | $4M | 1.7% | 2026-Q1 |
| SG Americas Securities, LLC trimmed | 112,994 | $4M | 1.6% | 2026-Q1 |
| Optiver Holding B.V. added | 105,461 | $4M | 1.5% | 2026-Q1 |
| GROUP ONE TRADING LLC trimmed | 104,392 | $4M | 1.5% | 2026-Q1 |
| HOLLENCREST CAPITAL MANAGEMENT trimmed | 66,968 | $2M | 1.0% | 2026-Q1 |
| Capital Investment Counsel, Inc added | 53,200 | $2M | 0.8% | 2026-Q1 |
| RAFFLES ASSOCIATES LP new | 50,000 | $2M | 0.7% | 2026-Q1 |
| CITIGROUP INC trimmed | 47,730 | $2M | 0.7% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 42,029 | $2M | 0.6% | 2026-Q1 |
| XTX Topco Ltd added | 28,374 | $1M | 0.4% | 2026-Q1 |
| PING CAPITAL MANAGEMENT, INC. trimmed | 28,000 | $1M | 0.4% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 22,695 | $818K | 0.3% | 2026-Q1 |
| Encompass More Asset Management new | 15,240 | $550K | 0.2% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC new | 12,792 | $461K | 0.2% | 2026-Q1 |
| Vontobel Holding Ltd. trimmed | 10,532 | $380K | 0.1% | 2026-Q1 |
| Steele Capital Management, Inc. | 10,327 | $372K | 0.1% | 2026-Q1 |
| PMV Capital Advisers, LLC added | 10,153 | $366K | 0.1% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 8,239 | $296K | 0.1% | 2026-Q1 |
| Cerity Partners LLC new | 8,010 | $289K | 0.1% | 2026-Q1 |
| EXENCIAL WEALTH ADVISORS, LLC | 8,000 | $288K | 0.1% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 6,589 | $238K | 0.1% | 2026-Q1 |
| LifeGuide Financial Advisors, LLC trimmed | 6,315 | $228K | 0.1% | 2026-Q1 |
| Simplicity Wealth,LLC trimmed | 6,029 | $217K | 0.1% | 2026-Q1 |
| JTC Employer Solutions Trustee Ltd | 1,500 | $54K | 0.0% | 2026-Q1 |
| MORGAN STANLEY trimmed | 1,099 | $40K | 0.0% | 2026-Q1 |
| Cassaday & Co Wealth Management LLC new | 702 | $25K | 0.0% | 2026-Q1 |
| IMG Wealth Management, Inc. | 613 | $22K | 0.0% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. added | 485 | $17K | 0.0% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 302 | $11K | 0.0% | 2026-Q1 |
| PayPay Securities Corp trimmed | 259 | $9K | 0.0% | 2026-Q1 |
| Tower Research Capital LLC (TRC) added | 195 | $7K | 0.0% | 2026-Q1 |
| Federation des caisses Desjardins du Quebec | 195 | $7K | 0.0% | 2026-Q1 |
| TD Waterhouse Canada Inc. new | 150 | $5K | 0.0% | 2026-Q1 |
| HANTZ FINANCIAL SERVICES, INC. | 100 | $4K | 0.0% | 2026-Q1 |
| Parallel Advisors, LLC | 91 | $3K | 0.0% | 2026-Q1 |
| AMERIFLEX GROUP, INC. new | 54 | $2K | 0.0% | 2026-Q1 |
| Maple Rock Capital Partners Inc. new | 945,000 | $42M | 16.4% | 2025-Q1 stale |
| Jump Financial, LLC added | 482,070 | $19M | 7.5% | 2025-Q2 stale |
| Quadrature Capital Ltd trimmed | 187,401 | $7M | 2.8% | 2025-Q4 stale |
| GTS SECURITIES LLC trimmed | 146,502 | $6M | 2.3% | 2025-Q2 stale |
| Marex Group plc added | 131,475 | $5M | 1.9% | 2025-Q4 stale |
| BARCLAYS PLC added | 82,236 | $5M | 1.9% | 2025-Q3 stale |
| IHT Wealth Management, LLC added | 95,400 | $4M | 1.5% | 2025-Q2 stale |
| RENAISSANCE TECHNOLOGIES LLC new | 94,540 | $4M | 1.5% | 2025-Q2 stale |
| NORTHERN TRUST CORP new | 80,000 | $3M | 1.2% | 2025-Q2 stale |
| MARSHALL WACE, LLP new | 71,000 | $3M | 1.1% | 2025-Q2 stale |
| Lighthouse Investment Partners, LLC new | 60,000 | $3M | 1.0% | 2025-Q1 stale |
| Virtu Financial LLC trimmed | 63,534 | $3M | 1.0% | 2025-Q3 stale |
| WOLVERINE TRADING, LLC added | 55,600 | $2M | 0.9% | 2025-Q3 stale |
| IMC-Chicago, LLC trimmed | 38,528 | $1M | 0.6% | 2025-Q4 stale |
| CANTOR FITZGERALD, L. P. trimmed | 32,195 | $1M | 0.5% | 2025-Q3 stale |
| FLOW TRADERS U.S. LLC added | 33,720 | $1M | 0.5% | 2025-Q4 stale |
| SIH Partners, LLLP new | 25,000 | $1M | 0.4% | 2025-Q3 stale |
| J. Safra Sarasin Holding AG new | 24,017 | $965K | 0.4% | 2025-Q3 stale |
| SURIENCE PRIVATE WEALTH LLC new | 22,102 | $888K | 0.4% | 2025-Q3 stale |
| Belvedere Trading LLC added | 22,232 | $872K | 0.3% | 2025-Q2 stale |
| Inscription Capital, LLC added | 14,050 | $766K | 0.3% | 2025-Q1 stale |
| Scientech Research LLC new | 18,135 | $712K | 0.3% | 2025-Q2 stale |
| Mariner, LLC added | 16,141 | $649K | 0.3% | 2025-Q3 stale |
| INTEGRITY ALLIANCE, LLC. trimmed | 15,000 | $589K | 0.2% | 2025-Q2 stale |
| BLUEFIN CAPITAL MANAGEMENT, LLC new | 13,700 | $511K | 0.2% | 2025-Q4 stale |
| SUMMIT SECURITIES GROUP LLC new | 13,500 | $504K | 0.2% | 2025-Q4 stale |
| Ground Swell Capital, LLC new | 10,431 | $419K | 0.2% | 2025-Q3 stale |
| Innova Wealth Partners trimmed | 7,852 | $346K | 0.1% | 2025-Q1 stale |
| RHS Financial, LLC new | 7,914 | $311K | 0.1% | 2025-Q2 stale |
| PRELUDE CAPITAL MANAGEMENT, LLC new | 7,430 | $292K | 0.1% | 2025-Q2 stale |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 7,037 | $283K | 0.1% | 2025-Q3 stale |
| X-Square Capital, LLC trimmed | 7,000 | $281K | 0.1% | 2025-Q3 stale |
| FNY Investment Advisers, LLC new | 7,400 | $276K | 0.1% | 2025-Q4 stale |
| TWO SIGMA SECURITIES, LLC added | 6,008 | $264K | 0.1% | 2025-Q1 stale |
| Bank of New York Mellon Corp trimmed | 6,002 | $241K | 0.1% | 2025-Q3 stale |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 5,021 | $221K | 0.1% | 2025-Q1 stale |
| Arkadios Wealth Advisors | 5,200 | $209K | 0.1% | 2025-Q3 stale |
| Morse Asset Management, Inc | 4,000 | $149K | 0.1% | 2025-Q4 stale |
| Pilgrim Partners Asia Pte Ltd new | 3,600 | $145K | 0.1% | 2025-Q3 stale |
| Hillsdale Investment Management Inc. trimmed | 2,988 | $117K | 0.0% | 2025-Q2 stale |
| SSA SWISS ADVISORS AG | 2,930 | $110K | 0.0% | 2025-Q4 stale |
| TUCKER ASSET MANAGEMENT LLC trimmed | 2,116 | $79K | 0.0% | 2025-Q4 stale |
| EverSource Wealth Advisors, LLC | 1,000 | $39K | 0.0% | 2025-Q2 stale |
| CIBC Private Wealth Group LLC added | 722 | $27K | 0.0% | 2025-Q4 stale |
| Sequoia Financial Advisors, LLC new | 481 | $18K | 0.0% | 2025-Q4 stale |
| AE Wealth Management LLC | 418 | $17K | 0.0% | 2025-Q3 stale |
| NewEdge Advisors, LLC | 388 | $14K | 0.0% | 2025-Q4 stale |
| SouthState Corp new | 94 | $4K | 0.0% | 2025-Q1 stale |
| Qube Research & Technologies Ltd trimmed | 92 | $4K | 0.0% | 2025-Q1 stale |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 100 | $4K | 0.0% | 2025-Q4 stale |
| Frazier Financial Advisors, LLC new | 100 | $4K | 0.0% | 2025-Q4 stale |
| IFP Advisors, Inc trimmed | 50 | $2K | 0.0% | 2025-Q2 stale |
| Kings Path Partners LLC trimmed | 35 | $1K | 0.0% | 2025-Q2 stale |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO new | 20 | $746 | 0.0% | 2025-Q4 stale |
| Blue Trust, Inc. | 13 | $510 | 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.