Who owns XBB
Which tracked institutional funds hold XBB, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See XBB company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-15). 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 XBB is one-sided between 2025-Q4 and 2026-Q1: 6 added or opened and 2 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
XBB’s largest tracked holder by dollar value, Municipal Employees' Retirement System of Michigan, sizes it at 3.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 3.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in XBB 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 23 tracked filers holding XBB, 13 increased or opened the position and 10 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 XBB 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 2
- Teucrium Investment Advisors, LLC$1M
- Stratos Investment Management, LLC$787K
Full exits 1
- POTOMAC FUND MANAGEMENT INC /ADV$48M
Largest adds
- IFP Advisors, Inc$3M
- Lido Advisors, LLC$2M
- MML INVESTORS SERVICES, LLC$545K
- ATWOOD & PALMER INC$338K
Largest trims
- Municipal Employees' Retirement System of Michigan$3M
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 |
|---|---|---|---|---|
| Municipal Employees' Retirement System of Michigan | 7,372,511 | $300M | 74.0% | 2026-Q1 |
| ATWOOD & PALMER INC added | 500,015 | $20M | 5.0% | 2026-Q1 |
| Lido Advisors, LLC added | 226,571 | $9M | 2.3% | 2026-Q1 |
| MGO ONE SEVEN LLC added | 218,625 | $9M | 2.2% | 2026-Q1 |
| IFP Advisors, Inc added | 71,494 | $3M | 0.7% | 2026-Q1 |
| SAGE RHINO CAPITAL LLC trimmed | 52,462 | $2M | 0.5% | 2026-Q1 |
| Teucrium Investment Advisors, LLC new | 32,110 | $1M | 0.3% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC added | 23,543 | $958K | 0.2% | 2026-Q1 |
| Cetera Investment Advisers added | 21,953 | $893K | 0.2% | 2026-Q1 |
| Stratos Investment Management, LLC new | 19,350 | $787K | 0.2% | 2026-Q1 |
| CGN Advisors LLC trimmed | 13,649 | $555K | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 13,508 | $550K | 0.1% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 6,539 | $266K | 0.1% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 5,696 | $232K | 0.1% | 2026-Q1 |
| Dynamic Advisor Solutions LLC | 5,000 | $203K | 0.1% | 2026-Q1 |
| Crews Bank & Trust | 1,250 | $51K | 0.0% | 2026-Q1 |
| Archer Investment Corp | 1,070 | $44K | 0.0% | 2026-Q1 |
| Nemes Rush Group LLC | 703 | $29K | 0.0% | 2026-Q1 |
| Truvestments Capital LLC new | 370 | $15K | 0.0% | 2026-Q1 |
| OSAIC HOLDINGS, INC. | 331 | $13K | 0.0% | 2026-Q1 |
| NATIONAL BANK OF CANADA /FI/ trimmed | 120 | $5K | 0.0% | 2026-Q1 |
| AE Wealth Management LLC trimmed | 81 | $3K | 0.0% | 2026-Q1 |
| MORGAN STANLEY trimmed | 5 | $203 | 0.0% | 2026-Q1 |
| POTOMAC FUND MANAGEMENT INC /ADV added | 1,174,307 | $48M | 11.9% | 2025-Q4 stale |
| Stadion Money Management, LLC trimmed | 106,523 | $4M | 1.1% | 2025-Q3 stale |
| FULLCIRCLE WEALTH LLC added | 46,240 | $2M | 0.5% | 2025-Q3 stale |
| TOWNSQUARE CAPITAL LLC added | 22,368 | $904K | 0.2% | 2025-Q1 stale |
| CITADEL ADVISORS LLC new | 6,194 | $255K | 0.1% | 2025-Q4 stale |
| GK Wealth Management LLC new | 5,902 | $243K | 0.1% | 2025-Q4 stale |
| Game Plan Financial Advisors, LLC new | 2,500 | $103K | 0.0% | 2025-Q2 stale |
| Global Retirement Partners, LLC added | 1,153 | $47K | 0.0% | 2025-Q4 stale |
| UBS Group AG added | 227 | $9K | 0.0% | 2025-Q4 stale |
| BANK OF AMERICA CORP /DE/ trimmed | 155 | $6K | 0.0% | 2025-Q4 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 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.