Who owns USFR
Which tracked institutional funds hold USFR, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See USFR 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
165 tracked funds added or opened USFR while 168 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
USFR’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 0.8% of theirs — a 0.7pp gap the other way — the median holder sizes USFR more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in USFR 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 588 tracked filers holding USFR, 291 increased or opened the position and 315 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 USFR 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 31
- NewEdge Advisors, LLC$42M
- Global Retirement Partners, LLC$38M
- Bluespring Wealth Management, LLC$34M
- BANK OF NOVA SCOTIA$19M
- AXXCESS WEALTH MANAGEMENT, LLC$13M
- Value Investment Professionals, LLC$11M
Full exits 38
- HighTower Advisors, LLC$118M
- Cambridge Investment Research Advisors, Inc.$45M
- Capital Planning Advisors, LLC$41M
- Independent Advisor Alliance$39M
- Catalina Capital Group, LLC$18M
- Leo Wealth, LLC$18M
Largest adds
- NewEdge Wealth, LLC$175M
- Summit Trail Advisors, LLC$68M
- MISSION WEALTH MANAGEMENT, LP$50M
- Aprio Wealth Management, LLC$33M
- Encompass More Asset Management$27M
- AMERIPRISE FINANCIAL INC$26M
Largest trims
- BANK OF AMERICA CORP /DE/$74M
- Global View Capital Management LLC$47M
- Lido Advisors, LLC$44M
- CAPTRUST FINANCIAL ADVISORS$44M
- Private Advisor Group, LLC$38M
- Hamilton Wealth, LLC$32M
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 trimmed | 17,156,947 | $864M | 10.2% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 14,460,849 | $728M | 8.6% | 2026-Q2 |
| LPL Financial LLC added | 13,259,499 | $668M | 7.9% | 2026-Q2 |
| Summit Trail Advisors, LLC added | 11,284,922 | $568M | 6.7% | 2026-Q2 |
| NewEdge Wealth, LLC added | 11,099,477 | $559M | 6.6% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 6,825,052 | $344M | 4.1% | 2026-Q2 |
| BIP Wealth, LLC added | 5,521,691 | $278M | 3.3% | 2026-Q2 |
| UBS Group AG added | 5,364,589 | $270M | 3.2% | 2026-Q2 |
| CAPTRUST FINANCIAL ADVISORS trimmed | 4,373,842 | $220M | 2.6% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 4,316,500 | $219M | 2.6% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 3,979,574 | $200M | 2.4% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 2,921,694 | $147M | 1.7% | 2026-Q2 |
| Serenus Wealth Advisors, LLC added | 2,424,914 | $122M | 1.4% | 2026-Q2 |
| Howard Capital Management, LLC added | 2,083,671 | $17M | 0.2% | 2026-Q2 |
| MISSION WEALTH MANAGEMENT, LP added | 1,868,364 | $94M | 1.1% | 2026-Q2 |
| Cetera Investment Advisers added | 1,788,259 | $90M | 1.1% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 1,755,340 | $88M | 1.0% | 2026-Q2 |
| Morton Capital Management LLC/CA added | 1,740,568 | $88M | 1.0% | 2026-Q2 |
| Rockefeller Capital Management L.P. added | 1,579,027 | $80M | 0.9% | 2026-Q2 |
| Private Advisor Group, LLC trimmed | 1,567,010 | $79M | 0.9% | 2026-Q2 |
| Kestra Advisory Services, LLC trimmed | 1,495,048 | $75M | 0.9% | 2026-Q2 |
| Encompass More Asset Management added | 1,473,313 | $74M | 0.9% | 2026-Q2 |
| Cardinal Point Capital Management ULC trimmed | 1,436,227 | $72M | 0.9% | 2026-Q2 |
| IHT Wealth Management, LLC trimmed | 1,368,150 | $69M | 0.8% | 2026-Q2 |
| DAVENPORT & Co LLC added | 1,307,935 | $66M | 0.8% | 2026-Q2 |
| Bank of New York Mellon Corp added | 1,304,803 | $66M | 0.8% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 1,235,653 | $62M | 0.7% | 2026-Q2 |
| KNIGHTSBRIDGE ASSET MANAGEMENT, LLC trimmed | 1,163,721 | $59M | 0.7% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 1,157,916 | $58M | 0.7% | 2026-Q2 |
| FOURPATH CAPITAL MANAGEMENT, LLC trimmed | 1,133,549 | $57M | 0.7% | 2026-Q2 |
| SKY-MOUNTAIN CAPITAL MANAGEMENT, INC. trimmed | 1,090,104 | $55M | 0.7% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC added | 1,059,710 | $53M | 0.6% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 962,273 | $48M | 0.6% | 2026-Q2 |
| Stenger Family Office, LLC trimmed | 950,591 | $48M | 0.6% | 2026-Q2 |
| McGuire Investment Group, LLC added | 947,852 | $48M | 0.6% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 933,611 | $47M | 0.6% | 2026-Q2 |
| Lunt Capital Management, Inc. added | 923,539 | $47M | 0.6% | 2026-Q2 |
| Carmel Capital Partners, LLC added | 874,714 | $44M | 0.5% | 2026-Q2 |
| Mraz, Amerine & Associates, Inc. added | 859,642 | $43M | 0.5% | 2026-Q2 |
| BLAIR WILLIAM & CO/IL trimmed | 848,836 | $43M | 0.5% | 2026-Q2 |
| Uniplan Investment Counsel, Inc. added | 842,327 | $26M | 0.3% | 2026-Q2 |
| NewEdge Advisors, LLC added | 838,877 | $42M | 0.5% | 2026-Q2 |
| Ausdal Financial Partners, Inc. trimmed | 828,455 | $42M | 0.5% | 2026-Q2 |
| Disciplina Capital Management LLC added | 817,373 | $41M | 0.5% | 2026-Q2 |
| KESTRA PRIVATE WEALTH SERVICES, LLC trimmed | 800,627 | $40M | 0.5% | 2026-Q2 |
| Vertex Planning Partners, LLC trimmed | 774,263 | $39M | 0.5% | 2026-Q2 |
| Global Retirement Partners, LLC added | 761,225 | $38M | 0.5% | 2026-Q2 |
| AlphaCore Capital LLC trimmed | 744,182 | $37M | 0.4% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 734,712 | $37M | 0.4% | 2026-Q2 |
| Arkadios Wealth Advisors trimmed | 691,329 | $35M | 0.4% | 2026-Q2 |
| Aprio Wealth Management, LLC added | 676,658 | $34M | 0.4% | 2026-Q2 |
| Bluespring Wealth Management, LLC new | 671,099 | $34M | 0.4% | 2026-Q2 |
| LEVEL FOUR ADVISORY SERVICES, LLC added | 656,655 | $33M | 0.4% | 2026-Q2 |
| Farther Finance Advisors, LLC trimmed | 655,948 | $33M | 0.4% | 2026-Q2 |
| Inspire Advisors, LLC added | 649,557 | $33M | 0.4% | 2026-Q2 |
| Wealthcare Capital Partners, LLC trimmed | 647,400 | $33M | 0.4% | 2026-Q2 |
| FLAGSHIP HARBOR ADVISORS, LLC added | 646,040 | $33M | 0.4% | 2026-Q2 |
| Cresset Asset Management, LLC trimmed | 641,598 | $32M | 0.4% | 2026-Q2 |
| INTEGRITY ALLIANCE, LLC. added | 623,203 | $31M | 0.4% | 2026-Q2 |
| Vestmark Advisory Solutions, Inc. added | 607,410 | $31M | 0.4% | 2026-Q2 |
| ELEVATION POINT WEALTH PARTNERS, LLC added | 592,455 | $30M | 0.4% | 2026-Q2 |
| ASSETMARK, INC trimmed | 589,017 | $30M | 0.4% | 2026-Q2 |
| Wealthspire Advisors, LLC trimmed | 580,812 | $29M | 0.3% | 2026-Q2 |
| Merit Financial Group, LLC added | 537,614 | $27M | 0.3% | 2026-Q2 |
| &PARTNERS added | 527,440 | $27M | 0.3% | 2026-Q2 |
| HOLLENCREST CAPITAL MANAGEMENT trimmed | 511,767 | $26M | 0.3% | 2026-Q2 |
| UPTICK PARTNERS, LLC added | 510,939 | $26M | 0.3% | 2026-Q2 |
| Haven Private, LLC added | 509,989 | $26M | 0.3% | 2026-Q2 |
| Gladstone Institutional Advisory LLC trimmed | 492,844 | $25M | 0.3% | 2026-Q2 |
| United Asset Strategies, Inc. added | 491,959 | $25M | 0.3% | 2026-Q2 |
| Stonebridge Wealth Management, LLC added | 482,720 | $24M | 0.3% | 2026-Q2 |
| Client First Capital LLC trimmed | 458,302 | $23M | 0.3% | 2026-Q2 |
| Stonebridge Financial Group, LLC trimmed | 453,821 | $23M | 0.3% | 2026-Q2 |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC added | 453,801 | $23M | 0.3% | 2026-Q2 |
| Global View Capital Management LLC trimmed | 453,517 | $23M | 0.3% | 2026-Q2 |
| WEBSTER BANK, N. A. added | 442,556 | $22M | 0.3% | 2026-Q2 |
| Bonfire Financial added | 438,875 | $22M | 0.3% | 2026-Q2 |
| New Perspectives, Inc added | 438,385 | $22M | 0.3% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV added | 437,940 | $22M | 0.3% | 2026-Q2 |
| Sharper & Granite LLC added | 423,807 | $21M | 0.3% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 422,438 | $21M | 0.3% | 2026-Q2 |
| UHLMANN PRICE SECURITIES, LLC trimmed | 415,230 | $21M | 0.2% | 2026-Q2 |
| Warner Group LLC added | 412,508 | $21M | 0.2% | 2026-Q2 |
| Sanctuary Advisors, LLC trimmed | 400,364 | $20M | 0.2% | 2026-Q2 |
| Leibman Financial Services, Inc. added | 394,250 | $20M | 0.2% | 2026-Q2 |
| Aptus Capital Advisors, LLC trimmed | 393,773 | $20M | 0.2% | 2026-Q2 |
| Concurrent Investment Advisors, LLC trimmed | 388,536 | $20M | 0.2% | 2026-Q2 |
| Team Financial Group, LLC trimmed | 386,358 | $19M | 0.2% | 2026-Q2 |
| SYKON CAPITAL LLC trimmed | 384,381 | $19M | 0.2% | 2026-Q2 |
| BANK OF NOVA SCOTIA new | 383,932 | $19M | 0.2% | 2026-Q2 |
| Alpine Bank Wealth Management added | 381,503 | $19M | 0.2% | 2026-Q2 |
| Exit Wealth Advisors, LLC. trimmed | 376,007 | $19M | 0.2% | 2026-Q2 |
| WCG Wealth Advisors LLC trimmed | 363,513 | $18M | 0.2% | 2026-Q2 |
| Wealthcare Advisory Partners LLC added | 359,365 | $18M | 0.2% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC added | 359,103 | $18M | 0.2% | 2026-Q2 |
| Mariner, LLC trimmed | 358,522 | $18M | 0.2% | 2026-Q2 |
| Broussard Financial Group LLC trimmed | 354,696 | $18M | 0.2% | 2026-Q2 |
| Clear Creek Financial Management, LLC trimmed | 335,303 | $17M | 0.2% | 2026-Q2 |
| Ankerstar Wealth, LLC added | 332,805 | $17M | 0.2% | 2026-Q2 |
| Melone Private Wealth, LLC trimmed | 332,125 | $17M | 0.2% | 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.