Who owns USTB (USTB)
Which tracked institutional funds hold USTB, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See USTB 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
The tracked-fund tape on USTB is one-sided between 2025-Q4 and 2026-Q1: 65 added or opened and 15 trimmed or exited — on balance accumulating.
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
USTB’s largest tracked holder by dollar value, VICTORY CAPITAL MANAGEMENT INC, sizes it at 0.2% of its own reported 13F book, while the median holder sizes it at 0.2% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in USTB 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 141 tracked filers holding USTB, 97 increased or opened the position and 44 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 USTB 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 8
- JANE STREET GROUP, LLC$23M
- Clarity Asset Management, Inc.$6M
- CITADEL ADVISORS LLC$6M
- Allen Capital Group, LLC$4M
- Tulsa Wealth Advisors, INC$4M
- RPS ADVISORY SOLUTIONS LLC$588K
Full exits 2
- Pine Valley Investments Ltd Liability Co$10M
- COMERICA BANK$1M
Largest adds
- SHP Wealth Management$63M
- MORGAN STANLEY$17M
- LPL Financial LLC$13M
- Merit Financial Group, LLC$11M
- Janney Montgomery Scott LLC$11M
- WELLS FARGO & COMPANY/MN$9M
Largest trims
- WEALTH ENHANCEMENT ADVISORY SERVICES, LLC$7M
- Capital Analysts, LLC$2M
- Maridea Wealth Management LLC$2M
- Bensler, LLC$2M
- Amplius Wealth Advisors, LLC$2M
- Farther Finance Advisors, LLC$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 |
|---|---|---|---|---|
| VICTORY CAPITAL MANAGEMENT INC added | 5,410,366 | $274M | 17.5% | 2026-Q1 |
| Merit Financial Group, LLC added | 2,822,911 | $143M | 9.1% | 2026-Q1 |
| MORGAN STANLEY added | 2,528,426 | $128M | 8.2% | 2026-Q1 |
| LPL Financial LLC added | 1,607,923 | $81M | 5.2% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 1,531,498 | $77M | 5.0% | 2026-Q1 |
| SHP Wealth Management added | 1,248,215 | $63M | 4.0% | 2026-Q1 |
| Stonebridge Financial Group, LLC added | 881,331 | $45M | 2.9% | 2026-Q1 |
| Amplius Wealth Advisors, LLC trimmed | 733,336 | $37M | 2.4% | 2026-Q1 |
| Broadway Wealth Solutions, Inc. added | 559,951 | $28M | 1.8% | 2026-Q1 |
| Marquette Asset Management, LLC added | 525,433 | $27M | 1.7% | 2026-Q1 |
| Capital Analysts, LLC trimmed | 516,536 | $26M | 1.7% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 482,124 | $24M | 1.6% | 2026-Q1 |
| Private Advisor Group, LLC added | 464,463 | $23M | 1.5% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 458,615 | $23M | 1.5% | 2026-Q1 |
| Waverly Advisors, LLC added | 451,585 | $23M | 1.5% | 2026-Q1 |
| KINTRA WEALTH, LLC added | 392,069 | $20M | 1.3% | 2026-Q1 |
| MOTCO added | 372,958 | $19M | 1.2% | 2026-Q1 |
| ERn Financial, LLC added | 334,129 | $17M | 1.1% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 307,627 | $16M | 1.0% | 2026-Q1 |
| Cornerstone Planning Group LLC added | 292,838 | $15M | 0.9% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 267,057 | $14M | 0.9% | 2026-Q1 |
| NORTHEAST PLANNING ASSOCIATES, INC. / NH / added | 265,596 | $13M | 0.9% | 2026-Q1 |
| Redhawk Wealth Advisors, Inc. added | 264,785 | $13M | 0.9% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 263,995 | $13M | 0.9% | 2026-Q1 |
| HORAN Wealth, LLC added | 262,376 | $13M | 0.8% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 249,515 | $13M | 0.8% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 234,309 | $12M | 0.8% | 2026-Q1 |
| Certified Advisory Corp added | 231,971 | $12M | 0.8% | 2026-Q1 |
| BlueStem Wealth Partners, LLC added | 221,223 | $11M | 0.7% | 2026-Q1 |
| Apella Capital, LLC added | 220,010 | $11M | 0.7% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 211,904 | $11M | 0.7% | 2026-Q1 |
| TOTH FINANCIAL ADVISORY CORP added | 210,516 | $11M | 0.7% | 2026-Q1 |
| UBS Group AG trimmed | 210,425 | $11M | 0.7% | 2026-Q1 |
| Integrated Wealth Concepts LLC added | 206,471 | $10M | 0.7% | 2026-Q1 |
| Winter & Associates, Inc. added | 198,454 | $10M | 0.6% | 2026-Q1 |
| Focus Partners Advisor Solutions, LLC added | 193,011 | $10M | 0.6% | 2026-Q1 |
| Summit Financial, LLC added | 191,605 | $10M | 0.6% | 2026-Q1 |
| ADAPT WEALTH ADVISORS, LLC added | 189,516 | $10M | 0.6% | 2026-Q1 |
| CREATIVE FINANCIAL DESIGNS INC /ADV added | 185,906 | $9M | 0.6% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC added | 180,424 | $9M | 0.6% | 2026-Q1 |
| StoryOne LLC | 0 | $9M | 0.6% | 2026-Q1 |
| Pinnacle Wealth Management Group, Inc. added | 178,774 | $9M | 0.6% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 155,654 | $8M | 0.5% | 2026-Q1 |
| AVAII WEALTH MANAGEMENT, LLC added | 153,409 | $8M | 0.5% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 151,109 | $8M | 0.5% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 149,974 | $8M | 0.5% | 2026-Q1 |
| Smith Thornton Advisors LLC added | 131,303 | $7M | 0.4% | 2026-Q1 |
| Quadcap Wealth Management, LLC trimmed | 128,389 | $6M | 0.4% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 122,836 | $6M | 0.4% | 2026-Q1 |
| Patriot Financial Group Insurance Agency, LLC added | 122,240 | $6M | 0.4% | 2026-Q1 |
| REDW Wealth LLC added | 120,685 | $6M | 0.4% | 2026-Q1 |
| Farther Finance Advisors, LLC trimmed | 116,857 | $6M | 0.4% | 2026-Q1 |
| Darrow Company, Inc. added | 113,884 | $6M | 0.4% | 2026-Q1 |
| Bensler, LLC trimmed | 113,831 | $6M | 0.4% | 2026-Q1 |
| Clarity Asset Management, Inc. new | 111,951 | $6M | 0.4% | 2026-Q1 |
| Midwest Capital Advisors, LLC added | 111,574 | $6M | 0.4% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 109,303 | $6M | 0.4% | 2026-Q1 |
| FLOW TRADERS U.S. LLC added | 95,200 | $5M | 0.3% | 2026-Q1 |
| Kingsview Wealth Management, LLC added | 86,845 | $4M | 0.3% | 2026-Q1 |
| NATIONS FINANCIAL GROUP INC, /IA/ /ADV added | 84,837 | $4M | 0.3% | 2026-Q1 |
| Allen Capital Group, LLC trimmed | 80,692 | $4M | 0.3% | 2026-Q1 |
| Equitable Holdings, Inc. added | 76,289 | $4M | 0.2% | 2026-Q1 |
| Tulsa Wealth Advisors, INC new | 74,639 | $4M | 0.2% | 2026-Q1 |
| Rooted Wealth Advisors, Inc. added | 71,085 | $4M | 0.2% | 2026-Q1 |
| Valmark Advisers, Inc. added | 63,874 | $3M | 0.2% | 2026-Q1 |
| Lakeridge Wealth Management LLC trimmed | 61,591 | $3M | 0.2% | 2026-Q1 |
| Madison Wealth Partners, Inc added | 59,038 | $3M | 0.2% | 2026-Q1 |
| Samalin Investment Counsel, LLC trimmed | 57,456 | $3M | 0.2% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 57,229 | $3M | 0.2% | 2026-Q1 |
| Trademark Financial Management, LLC added | 54,566 | $3M | 0.2% | 2026-Q1 |
| OneAscent Wealth Management LLC added | 51,908 | $3M | 0.2% | 2026-Q1 |
| Bank of New York Mellon Corp added | 45,670 | $2M | 0.1% | 2026-Q1 |
| OPPENHEIMER & CO INC trimmed | 44,080 | $2M | 0.1% | 2026-Q1 |
| Elk River Wealth Management LLC trimmed | 38,715 | $2M | 0.1% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 29,401 | $1M | 0.1% | 2026-Q1 |
| Perigon Wealth Management, LLC added | 29,105 | $1M | 0.1% | 2026-Q1 |
| Mariner, LLC trimmed | 27,215 | $1M | 0.1% | 2026-Q1 |
| Atria Investments, Inc trimmed | 26,943 | $1M | 0.1% | 2026-Q1 |
| FLAGSHIP HARBOR ADVISORS, LLC added | 26,543 | $1M | 0.1% | 2026-Q1 |
| Axis Wealth Partners, LLC added | 26,082 | $1M | 0.1% | 2026-Q1 |
| SILVER OAK SECURITIES, INCORPORATED added | 24,926 | $1M | 0.1% | 2026-Q1 |
| Stratos Investment Management, LLC added | 24,461 | $1M | 0.1% | 2026-Q1 |
| Advisory Services Network, LLC added | 24,330 | $1M | 0.1% | 2026-Q1 |
| Sigma Planning Corp added | 24,019 | $1M | 0.1% | 2026-Q1 |
| Orion Porfolio Solutions, LLC trimmed | 22,750 | $1M | 0.1% | 2026-Q1 |
| Comprehensive Wealth Management, LLC added | 22,551 | $1M | 0.1% | 2026-Q1 |
| Miller Financial Services LLC added | 22,170 | $1M | 0.1% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 19,696 | $996K | 0.1% | 2026-Q1 |
| MAINSTAY CAPITAL MANAGEMENT LLC /ADV added | 18,480 | $935K | 0.1% | 2026-Q1 |
| KESTRA PRIVATE WEALTH SERVICES, LLC added | 17,866 | $904K | 0.1% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 17,146 | $867K | 0.1% | 2026-Q1 |
| Claro Advisors Inc. trimmed | 16,373 | $828K | 0.1% | 2026-Q1 |
| Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors trimmed | 14,876 | $752K | 0.0% | 2026-Q1 |
| Pine Valley Investments Ltd Liability Co added | 202,823 | $10M | 0.7% | 2025-Q4 stale |
| Horan Capital Advisors, LLC. added | 184,102 | $9M | 0.6% | 2025-Q1 stale |
| Masso Torrence Wealth Management Inc. added | 139,571 | $7M | 0.5% | 2025-Q3 stale |
| Atria Wealth Solutions, Inc. trimmed | 58,167 | $3M | 0.2% | 2025-Q2 stale |
| Synergy Asset Management, LLC added | 54,055 | $3M | 0.2% | 2025-Q3 stale |
| Orion Portfolio Solutions, LLC trimmed | 34,415 | $2M | 0.1% | 2025-Q1 stale |
| COMERICA BANK added | 23,206 | $1M | 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.