Who owns XHLF (XHLF)
Which tracked institutional funds hold XHLF, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See XHLF 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
36 tracked funds added or opened XHLF while 28 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
XHLF’s largest tracked holder by dollar value, POTOMAC FUND MANAGEMENT INC /ADV, sizes it at 11.2% of its own reported 13F book, while the median holder sizes it at 0.2% of theirs — a 11.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in XHLF 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 121 tracked filers holding XHLF, 64 increased or opened the position and 69 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 XHLF 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 7
- GTS SECURITIES LLC$4M
- CITADEL ADVISORS LLC$2M
- Cerity Partners LLC$1M
- Kovack Advisors, Inc.$1M
- Tower Research Capital LLC (TRC)$1M
- Teucrium Investment Advisors, LLC$917K
Full exits 9
- Q3 Asset Management$241M
- SoundView Advisors Inc.$26M
- Beacon Capital Management, Inc.$3M
- Running Point Capital Advisors, LLC$1M
- Oasis Advisors, LLC$1M
- Legacy Capital Group California, Inc.$1M
Largest adds
- BANK OF MONTREAL /CAN/$24M
- GOLDMAN SACHS GROUP INC$19M
- Carrera Capital Advisors$17M
- ROYAL BANK OF CANADA$10M
- Ameritas Advisory Services, LLC$6M
- Encompass More Asset Management$6M
Largest trims
- POTOMAC FUND MANAGEMENT INC /ADV$84M
- Tanager Wealth Management LLP$15M
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$9M
- ENVESTNET ASSET MANAGEMENT INC$7M
- WELLS FARGO & COMPANY/MN$6M
- MML INVESTORS SERVICES, LLC$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 |
|---|---|---|---|---|
| POTOMAC FUND MANAGEMENT INC /ADV trimmed | 6,416,982 | $323M | 19.6% | 2026-Q1 |
| Carrera Capital Advisors added | 2,825,109 | $142M | 8.6% | 2026-Q1 |
| TOTAL INVESTMENT MANAGEMENT INC trimmed | 1,779,463 | $90M | 5.4% | 2026-Q1 |
| Tanager Wealth Management LLP trimmed | 1,462,142 | $74M | 4.5% | 2026-Q1 |
| a16z Perennial Management, L.P. | 1,392,000 | $70M | 4.3% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 968,052 | $49M | 3.0% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 946,074 | $48M | 2.9% | 2026-Q1 |
| 3EDGE Asset Management, LP trimmed | 655,121 | $33M | 2.0% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 629,578 | $32M | 1.9% | 2026-Q1 |
| JDM Financial Group LLC trimmed | 532,397 | $27M | 1.6% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 435,835 | $22M | 1.3% | 2026-Q1 |
| SILVER OAK SECURITIES, INCORPORATED added | 386,643 | $19M | 1.2% | 2026-Q1 |
| EVERGREEN CAPITAL MANAGEMENT LLC added | 339,907 | $17M | 1.0% | 2026-Q1 |
| Advisors Preferred, LLC added | 278,900 | $14M | 0.9% | 2026-Q1 |
| Focus Partners Wealth added | 247,772 | $12M | 0.8% | 2026-Q1 |
| MORGAN STANLEY trimmed | 241,035 | $12M | 0.7% | 2026-Q1 |
| CAMBIENT FAMILY OFFICE, LLC added | 233,249 | $12M | 0.7% | 2026-Q1 |
| Signal Advisors Wealth, LLC trimmed | 216,858 | $11M | 0.7% | 2026-Q1 |
| Encompass More Asset Management added | 182,321 | $9M | 0.6% | 2026-Q1 |
| Stadion Money Management, LLC added | 174,029 | $9M | 0.5% | 2026-Q1 |
| Laurel Wealth Advisors LLC added | 161,855 | $8M | 0.5% | 2026-Q1 |
| Sigma Planning Corp added | 156,840 | $8M | 0.5% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 152,862 | $8M | 0.5% | 2026-Q1 |
| eCIO, Inc. added | 138,793 | $7M | 0.4% | 2026-Q1 |
| DIVERSIFY WEALTH MANAGEMENT, LLC added | 135,814 | $7M | 0.4% | 2026-Q1 |
| Ameritas Advisory Services, LLC added | 131,344 | $7M | 0.4% | 2026-Q1 |
| Strait & Sound Wealth Management LLC trimmed | 130,295 | $7M | 0.4% | 2026-Q1 |
| Warren Street Wealth Advisors, LLC trimmed | 125,329 | $6M | 0.4% | 2026-Q1 |
| STAR Financial Bank added | 109,384 | $6M | 0.3% | 2026-Q1 |
| Bulwark Capital Corp added | 103,359 | $5M | 0.3% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 102,795 | $5M | 0.3% | 2026-Q1 |
| Measured Risk Portfolios, Inc. trimmed | 101,910 | $5M | 0.3% | 2026-Q1 |
| North Forty Two & Co. added | 99,940 | $5M | 0.3% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 94,885 | $5M | 0.3% | 2026-Q1 |
| Aptus Capital Advisors, LLC trimmed | 88,582 | $4M | 0.3% | 2026-Q1 |
| Empowered Funds, LLC added | 88,249 | $4M | 0.3% | 2026-Q1 |
| Oliver Luxxe Assets LLC trimmed | 82,180 | $4M | 0.3% | 2026-Q1 |
| GTS SECURITIES LLC new | 78,288 | $4M | 0.2% | 2026-Q1 |
| GUARDIAN WEALTH ADVISORS, LLC / NC trimmed | 78,245 | $4M | 0.2% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 74,402 | $4M | 0.2% | 2026-Q1 |
| Hobbs Group Advisors, LLC added | 67,517 | $3M | 0.2% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 65,081 | $3M | 0.2% | 2026-Q1 |
| SYON CAPITAL LLC added | 58,972 | $3M | 0.2% | 2026-Q1 |
| Strong Retirement Solutions LLC trimmed | 55,286 | $3M | 0.2% | 2026-Q1 |
| CARY STREET PARTNERS FINANCIAL LLC trimmed | 52,700 | $3M | 0.2% | 2026-Q1 |
| Portside Wealth Group, LLC added | 51,566 | $3M | 0.2% | 2026-Q1 |
| Blume Capital Management, Inc. trimmed | 50,125 | $3M | 0.2% | 2026-Q1 |
| SWEENEY & MICHEL, LLC added | 42,823 | $2M | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 40,423 | $2M | 0.1% | 2026-Q1 |
| Matrix Trust Co added | 38,240 | $2M | 0.1% | 2026-Q1 |
| ACORN FINANCIAL ADVISORY SERVICES INC /ADV added | 36,260 | $2M | 0.1% | 2026-Q1 |
| CWM, LLC added | 32,665 | $2M | 0.1% | 2026-Q1 |
| AE Wealth Management LLC added | 30,917 | $2M | 0.1% | 2026-Q1 |
| LPL Financial LLC added | 25,277 | $1M | 0.1% | 2026-Q1 |
| Cerity Partners LLC trimmed | 24,958 | $1M | 0.1% | 2026-Q1 |
| Kovack Advisors, Inc. new | 24,000 | $1M | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 22,604 | $1M | 0.1% | 2026-Q1 |
| Able Wealth Management LLC trimmed | 21,957 | $1M | 0.1% | 2026-Q1 |
| Tower Research Capital LLC (TRC) new | 21,251 | $1M | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 21,055 | $1M | 0.1% | 2026-Q1 |
| Note Advisors, LLC trimmed | 18,687 | $941K | 0.1% | 2026-Q1 |
| Teucrium Investment Advisors, LLC new | 18,279 | $917K | 0.1% | 2026-Q1 |
| Stonebrook Private Inc. trimmed | 17,941 | $903K | 0.1% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 17,520 | $880K | 0.1% | 2026-Q1 |
| Single Point Partners, LLC added | 17,163 | $864K | 0.1% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 16,141 | $812K | 0.0% | 2026-Q1 |
| ZEGA Investments, LLC trimmed | 13,810 | $695K | 0.0% | 2026-Q1 |
| John W. Brooker & Co., CPAs added | 13,053 | $657K | 0.0% | 2026-Q1 |
| Orion Porfolio Solutions, LLC trimmed | 12,733 | $641K | 0.0% | 2026-Q1 |
| JACKSON THORNTON WEALTH MANAGEMENT, LLC new | 12,649 | $635K | 0.0% | 2026-Q1 |
| Sugar Maple Asset Management, LLC added | 12,516 | $630K | 0.0% | 2026-Q1 |
| Harvest Investment Services, LLC trimmed | 12,278 | $618K | 0.0% | 2026-Q1 |
| Valmark Advisers, Inc. added | 12,076 | $608K | 0.0% | 2026-Q1 |
| Tailwinds Wealth, LLC added | 11,972 | $603K | 0.0% | 2026-Q1 |
| Q3 Asset Management added | 4,798,145 | $241M | 14.6% | 2025-Q4 stale |
| Pineridge Advisors LLC added | 2,132,997 | $108M | 6.5% | 2025-Q3 stale |
| SoundView Advisors Inc. added | 519,214 | $26M | 1.6% | 2025-Q4 stale |
| Municipal Employees' Retirement System of Michigan | 448,334 | $23M | 1.4% | 2025-Q3 stale |
| Pasadena Private Wealth, LLC added | 404,535 | $20M | 1.2% | 2025-Q3 stale |
| Astor Investment Management LLC new | 213,466 | $11M | 0.7% | 2025-Q2 stale |
| Kovitz Investment Group Partners, LLC trimmed | 158,027 | $8M | 0.5% | 2025-Q3 stale |
| AVANTAX ADVISORY SERVICES, INC. trimmed | 89,496 | $5M | 0.3% | 2025-Q2 stale |
| Beacon Capital Management, Inc. trimmed | 60,703 | $3M | 0.2% | 2025-Q4 stale |
| FLOW TRADERS U.S. LLC added | 50,414 | $3M | 0.2% | 2025-Q1 stale |
| Orion Portfolio Solutions, LLC trimmed | 28,028 | $1M | 0.1% | 2025-Q1 stale |
| Maridea Wealth Management LLC new | 25,381 | $1M | 0.1% | 2025-Q2 stale |
| Running Point Capital Advisors, LLC trimmed | 24,772 | $1M | 0.1% | 2025-Q4 stale |
| Oasis Advisors, LLC new | 22,659 | $1M | 0.1% | 2025-Q4 stale |
| Legacy Capital Group California, Inc. trimmed | 21,609 | $1M | 0.1% | 2025-Q4 stale |
| FULLCIRCLE WEALTH LLC trimmed | 21,340 | $1M | 0.1% | 2025-Q3 stale |
| London & Capital Asset Management Ltd new | 20,908 | $1M | 0.1% | 2025-Q2 stale |
| Ausdal Financial Partners, Inc. new | 20,304 | $1M | 0.1% | 2025-Q2 stale |
| Quantinno Capital Management LP new | 19,908 | $1M | 0.1% | 2025-Q2 stale |
| Atria Investments, Inc trimmed | 18,717 | $941K | 0.1% | 2025-Q4 stale |
| Empirical Financial Services, LLC d.b.a. Empirical Wealth Management new | 15,975 | $804K | 0.0% | 2025-Q1 stale |
| Crew Capital Management, Ltd. added | 13,198 | $665K | 0.0% | 2025-Q1 stale |
| CreativeOne Wealth, LLC new | 12,791 | $644K | 0.0% | 2025-Q2 stale |
| Thrivent Financial for Lutherans trimmed | 12,050 | $606K | 0.0% | 2025-Q4 stale |
| HRT FINANCIAL LP trimmed | 11,795 | $593K | 0.0% | 2025-Q1 stale |
| Exchange Capital Management, Inc. trimmed | 11,692 | $589K | 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.