Who owns USAS
Which tracked institutional funds hold USAS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See USAS company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-18). 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
26 tracked funds added or opened USAS while 40 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
USAS’s largest tracked holder by dollar value, Merk Investments LLC, sizes it at 29.2% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 29.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in USAS 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 149 tracked filers holding USAS, 91 increased or opened the position and 66 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 USAS 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 7
- PRICE T ROWE ASSOCIATES INC /MD/$40M
- Quadrature Capital Ltd$6M
- DIMENSIONAL FUND ADVISORS LP$1M
- Jump Financial, LLC$1M
- BALYASNY ASSET MANAGEMENT L.P.$784K
- BOOTHBAY FUND MANAGEMENT, LLC$727K
Full exits 11
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$23M
- Polar Asset Management Partners Inc.$14M
- MARSHALL WACE, LLP$3M
- HGC Investment Management Inc.$2M
- WHITEBOX ADVISORS LLC$1M
- Waratah Capital Advisors Ltd.$1M
Largest adds
- FRANKLIN RESOURCES INC$14M
- ROYAL BANK OF CANADA$7M
- RENAISSANCE TECHNOLOGIES LLC$3M
- U S GLOBAL INVESTORS INC$3M
- DEUTSCHE BANK AG\$2M
- GOLDMAN SACHS GROUP INC$1M
Largest trims
- Merk Investments LLC$10M
- MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.$10M
- ALPS ADVISORS INC$8M
- NewGen Asset Management Ltd$7M
- TORONTO DOMINION BANK$5M
- VAN ECK ASSOCIATES CORP$5M
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 |
|---|---|---|---|---|
| Merk Investments LLC | 19,392,000 | $92M | 17.4% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ new | 8,539,776 | $40M | 7.7% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed | 8,495,815 | $40M | 7.6% | 2026-Q2 |
| VAN ECK ASSOCIATES CORP trimmed | 7,711,429 | $36M | 6.9% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 6,337,708 | $30M | 5.7% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. added | 6,183,097 | $29M | 5.5% | 2026-Q2 |
| ALPS ADVISORS INC trimmed | 5,993,265 | $28M | 5.4% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 4,372,111 | $21M | 3.9% | 2026-Q2 |
| NewGen Asset Management Ltd trimmed | 3,500,000 | $17M | 3.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 3,199,391 | $15M | 2.9% | 2026-Q2 |
| U S GLOBAL INVESTORS INC added | 2,625,000 | $12M | 2.4% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 2,158,610 | $10M | 1.9% | 2026-Q2 |
| GABELLI FUNDS LLC | 2,115,000 | $10M | 1.9% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 1,922,165 | $9M | 1.7% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC added | 1,822,600 | $9M | 1.6% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 1,543,614 | $7M | 1.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 1,501,181 | $7M | 1.3% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 1,207,614 | $6M | 1.1% | 2026-Q2 |
| Quadrature Capital Ltd added | 1,168,625 | $6M | 1.0% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 1,112,746 | $5M | 1.0% | 2026-Q2 |
| SPROTT INC. added | 1,104,351 | $5M | 1.0% | 2026-Q2 |
| UBS Group AG added | 1,020,397 | $5M | 0.9% | 2026-Q2 |
| INTACT INVESTMENT MANAGEMENT INC. added | 1,010,440 | $5M | 0.9% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 966,306 | $5M | 0.9% | 2026-Q2 |
| MORGAN STANLEY trimmed | 943,767 | $4M | 0.8% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ trimmed | 905,946 | $4M | 0.8% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 839,846 | $4M | 0.8% | 2026-Q2 |
| HOLLENCREST CAPITAL MANAGEMENT added | 833,345 | $4M | 0.7% | 2026-Q2 |
| TD Asset Management Inc added | 826,478 | $4M | 0.7% | 2026-Q2 |
| GAMCO INVESTORS, INC. ET AL added | 788,642 | $4M | 0.7% | 2026-Q2 |
| Vanguard Global Advisers, LLC added | 730,216 | $3M | 0.7% | 2026-Q2 |
| Swiss National Bank added | 542,200 | $3M | 0.5% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 499,047 | $2M | 0.4% | 2026-Q2 |
| MONTRUSCO BOLTON INVESTMENTS INC. trimmed | 496,915 | $2M | 0.4% | 2026-Q2 |
| Walleye Capital LLC trimmed | 486,043 | $2M | 0.4% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 463,633 | $2M | 0.4% | 2026-Q2 |
| PCJ Investment Counsel Ltd. added | 461,860 | $2M | 0.4% | 2026-Q2 |
| Harvest Investment Services, LLC added | 356,956 | $2M | 0.3% | 2026-Q2 |
| MACKENZIE FINANCIAL CORP added | 354,670 | $2M | 0.5% | 2026-Q2 |
| XTX Topco Ltd added | 280,242 | $1M | 0.3% | 2026-Q2 |
| Aquatic Capital Management LLC trimmed | 269,873 | $1M | 0.2% | 2026-Q2 |
| IMC-Chicago, LLC added | 257,262 | $1M | 0.2% | 2026-Q2 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp added | 256,668 | $1M | 0.2% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 248,184 | $1M | 0.2% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 246,921 | $1M | 0.2% | 2026-Q2 |
| WealthTrust Axiom LLC trimmed | 243,531 | $1M | 0.2% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP new | 241,711 | $1M | 0.2% | 2026-Q2 |
| Jump Financial, LLC new | 231,445 | $1M | 0.2% | 2026-Q2 |
| CIBC Asset Management Inc added | 218,371 | $1M | 0.2% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 212,596 | $1M | 0.2% | 2026-Q2 |
| ZAZOVE ASSOCIATES LLC added | 200,000 | $944K | 0.2% | 2026-Q2 |
| Legal & General Group Plc added | 196,730 | $930K | 0.2% | 2026-Q2 |
| Nuveen, LLC added | 188,352 | $891K | 0.2% | 2026-Q2 |
| LGT Fund Management Co Ltd. | 175,000 | $827K | 0.2% | 2026-Q2 |
| CITIGROUP INC trimmed | 172,526 | $816K | 0.2% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC trimmed | 171,005 | $807K | 0.2% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 166,145 | $784K | 0.1% | 2026-Q2 |
| PenderFund Capital Management Ltd. added | 160,100 | $757K | 0.1% | 2026-Q2 |
| BOOTHBAY FUND MANAGEMENT, LLC new | 154,040 | $727K | 0.1% | 2026-Q2 |
| LPL Financial LLC added | 142,791 | $674K | 0.1% | 2026-Q2 |
| Zurcher Kantonalbank (Zurich Cantonalbank) added | 126,137 | $597K | 0.1% | 2026-Q2 |
| CIBC WORLD MARKET INC. added | 123,743 | $585K | 0.1% | 2026-Q2 |
| Sagil Capital LLP new | 118,933 | $561K | 0.1% | 2026-Q2 |
| NATIONAL BANK OF CANADA /FI/ added | 114,600 | $535K | 0.1% | 2026-Q2 |
| BARCLAYS PLC added | 111,865 | $528K | 0.1% | 2026-Q2 |
| TRUIST FINANCIAL CORP added | 105,000 | $496K | 0.1% | 2026-Q2 |
| TORONTO DOMINION BANK trimmed | 96,491 | $456K | 0.1% | 2026-Q2 |
| Federation des caisses Desjardins du Quebec added | 93,034 | $426K | 0.1% | 2026-Q2 |
| Fulcrum Asset Management LLP new | 88,914 | $420K | 0.1% | 2026-Q2 |
| Metatron Capital SICAV plc - Metatron Long Term Equity Fund new | 88,600 | $419K | 0.1% | 2026-Q2 |
| JANE STREET GROUP, LLC trimmed | 85,316 | $403K | 0.1% | 2026-Q2 |
| GROUP ONE TRADING LLC added | 77,527 | $366K | 0.1% | 2026-Q2 |
| Key Client Fiduciary Advisors, LLC trimmed | 70,500 | $333K | 0.1% | 2026-Q2 |
| Cetera Investment Advisers trimmed | 66,681 | $315K | 0.1% | 2026-Q2 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO added | 64,121 | $303K | 0.1% | 2026-Q2 |
| Kestra Advisory Services, LLC new | 62,232 | $294K | 0.1% | 2026-Q2 |
| AA Financial Advisors, LLC trimmed | 61,200 | $289K | 0.1% | 2026-Q2 |
| HUB Investment Partners, LLC | 60,000 | $283K | 0.1% | 2026-Q2 |
| Vanguard Investments Australia, Ltd. | 58,805 | $278K | 0.1% | 2026-Q2 |
| Alberta Investment Management Corp | 54,758 | $259K | 0.0% | 2026-Q2 |
| Pictet Asset Management Holding SA added | 50,332 | $238K | 0.0% | 2026-Q2 |
| Northwest & Ethical Investments L.P. added | 46,690 | $221K | 0.0% | 2026-Q2 |
| TD Waterhouse Canada Inc. added | 42,701 | $202K | 0.0% | 2026-Q2 |
| FIDUCIENT ADVISORS LLC | 40,000 | $189K | 0.0% | 2026-Q2 |
| HM PAYSON & CO added | 39,000 | $184K | 0.0% | 2026-Q2 |
| Caitong International Asset Management Co., Ltd trimmed | 38,192 | $180K | 0.0% | 2026-Q2 |
| Vident Advisory, LLC new | 36,689 | $173K | 0.0% | 2026-Q2 |
| Royal Palms Capital LLC added | 33,500 | $158K | 0.0% | 2026-Q2 |
| Lido Advisors, LLC | 33,000 | $156K | 0.0% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. | 30,840 | $161K | 0.0% | 2026-Q2 |
| Tidal Investments LLC added | 29,870 | $141K | 0.0% | 2026-Q2 |
| Investment Management Corp of Ontario added | 29,700 | $140K | 0.0% | 2026-Q2 |
| ABBINGTON INVESTMENT GROUP new | 29,287 | $138K | 0.0% | 2026-Q2 |
| LBP AM SA new | 27,203 | $128K | 0.0% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 27,136 | $128K | 0.0% | 2026-Q2 |
| J. Derek Lewis & Associates Inc. trimmed | 26,500 | $125K | 0.0% | 2026-Q2 |
| BlackRock, Inc. | 25,096 | $118K | 0.0% | 2026-Q2 |
| BCV Asset Management Inc. | 24,600 | $115K | 0.0% | 2026-Q2 |
| StoneX Group Inc. added | 21,951 | $104K | 0.0% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC trimmed | 21,163 | $100K | 0.0% | 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.