% of shares outstanding is not shown for BUFS: this is a fund line, and we hold no cover-page share count for it at any quarter — a fund's shares outstanding move with creations and redemptions rather than with issuance and buybacks, and it is not the SEC cover-page count this percentage is defined against. The figure is withheld rather than computed against a count that does not exist. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for BUFS in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | ENVESTNET ASSET MANAGEMENT INC | 851,311851,311 | $20M | — | ADD 1089% |
| 2 | Cambridge Investment Research Advisors, Inc. | 608,836608,836 | $14M | — | ADD 82% |
| 3 | Centennial Wealth Advisory LLC | 408,205408,205 | $9M | — | ADD 5% |
| 4 | Geneos Wealth Management Inc. | 333,864333,864 | $8M | — | TRIM -19% |
| 5 | RAYMOND JAMES FINANCIAL INC | 328,458328,458 | $8M | — | ADD 4% |
| 6 | Cetera Investment Advisers | 282,865282,865 | $7M | — | ADD 22% |
| 7 | OSAIC HOLDINGS, INC. | 175,240175,240 | $4M | — | ADD 927% |
| 8 | Advisory Services Network, LLC | 158,834158,834 | $4M | — | ADD 590% |
| 9 | AssuredPartners Investment Advisors, LLC | 75,84775,847 | $2M | — | TRIM -5% |
| 10 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 76,42376,423 | $2M | — | ADD 102% |
| 11 | MML INVESTORS SERVICES, LLC | 67,31467,314 | $2M | — | NEW |
| 12 | Sanctuary Advisors, LLC | 67,07367,073 | $2M | — | ADD 2% |
| 13 | INDEPENDENT FINANCIAL GROUP, LLC | 64,55964,559 | $1M | — | — |
| 14 | Integrated Wealth Concepts LLC | 58,61758,617 | $1M | — | ADD 13% |
| 15 | WORLD EQUITY GROUP, INC. | 57,61457,614 | $1M | — | ADD 4% |
| 16 | Kestra Advisory Services, LLC | 39,96939,969 | $921,685 | — | ADD 162% |
| 17 | Kovack Advisors, Inc. | 38,24338,243 | $883,413 | — | TRIM -11% |
| 18 | CWM, LLC | 37,04437,044 | $854,235 | — | NEW |
| 19 | NewEdge Advisors, LLC | 734,326734,326 | $734,326 | — | ADD 7% |
| 20 | Capital Analysts, LLC | 29,67229,672 | $684,000 | — | ADD 20% |
| 21 | TRUIST FINANCIAL CORP | 29,42329,423 | $678,494 | — | ADD 8% |
| 22 | Kingsview Wealth Management, LLC | 27,80027,800 | $641,068 | — | ADD 31% |
| 23 | Synergy Asset Management, LLC | 26,08626,086 | $601,543 | — | TRIM -14% |
| 24 | COMMONWEALTH EQUITY SERVICES, LLC | 22,93522,935 | $528,880 | — | ADD 40% |
| 25 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 22,57622,576 | $524,440 | — | TRIM -42% |
| 26 | Capasso Planning Partners LLC | 21,88221,882 | $504,599 | — | — |
| 27 | Claro Advisors Inc. | 21,61121,611 | $498,351 | — | ADD 19% |
| 28 | CITADEL ADVISORS LLC | 21,12521,125 | $487,143 | — | TRIM -49% |
| 29 | NewEdge Wealth, LLC | 20,00620,006 | $461,338 | — | NEW |
| 30 | SIGNATURE ESTATE & INVESTMENT ADVISORS LLC | 19,51119,511 | $449,924 | — | NEW |
| 31 | ODonnell Financial Services, LLC | 18,38418,384 | $423,935 | — | TRIM -33% |
| 32 | DHJJ Financial Advisors, Ltd. | 18,17218,172 | $419,047 | — | ADD 8% |
| 33 | OneAscent Financial Services LLC | 17,44017,440 | $402,166 | — | ADD 7% |
| 34 | WINNOW WEALTH LLC | 17,33517,335 | $399,752 | — | NEW |
| 35 | Brookstone Capital Management | 15,70115,701 | $362,065 | — | NEW |
| 36 | Keystone Wealth Services, LLC | 15,59115,591 | $359,528 | — | NEW |
| 37 | Tradition Wealth Management, LLC | 14,26014,260 | $328,836 | — | ADD 43% |
| 38 | ARQ WEALTH ADVISORS, LLC | 13,75713,757 | $317,237 | — | TRIM -46% |
| 39 | Legacy Capital Wealth Partners, LLC | 13,14513,145 | $303,124 | — | ADD 3% |
| 40 | IFP Advisors, Inc | 11,56611,566 | $266,712 | — | ADD 1174% |
| 41 | Ameritas Investment Partners, Inc. | 10,52510,525 | $242,707 | — | ADD 17% |
| 42 | MONETA GROUP INVESTMENT ADVISORS LLC | 10,39110,391 | $239,616 | — | TRIM -5% |
| 43 | Mariner, LLC | 10,28510,285 | $237,172 | — | NEW |
| 44 | PRINCIPAL SECURITIES, INC. | 9,5219,521 | $219,554 | — | ADD 6% |
| 45 | HARBOUR INVESTMENTS, INC. | 3,7873,787 | $87,328 | — | ADD 58% |
| 46 | IFG Advisory, LLC | 3,3983,398 | $78,358 | — | NEW |
| 47 | Farther Finance Advisors, LLC | 1,1001,100 | $25,410 | — | NEW |
| 48 | UBS Group AG | 1,0081,008 | $23,244 | — | NEW |
| 49 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 853853 | $19,670 | — | NEW |
| 50 | Ameritas Advisory Services, LLC | 430430 | $9,916 | — | NEW |
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| ENVESTNET ASSET MANAGEMENT INC | 651K | 693K | 677K | 992K | 72K | 851K | $20M |
| Cambridge Investment Research Advisors, Inc. | 73K | 199K | 289K | 324K | 335K | 609K | $14M |
| Centennial Wealth Advisory LLC | — | 319K | 338K | 364K | 387K | 408K | $9M |
| Geneos Wealth Management Inc. | 131K | 509K | 407K | 424K | 414K | 334K | $8M |
| RAYMOND JAMES FINANCIAL INC | 457K | 716K | 756K | 443K | 315K | 328K | $8M |
| Cetera Investment Advisers | 134K | 155K | 147K | 208K | 231K | 283K | $7M |
| OSAIC HOLDINGS, INC. | 6K | 3K | 11K | 11K | 17K | 175K | $4M |
| Advisory Services Network, LLC | — | — | 13K | 20K | 23K | 159K | $4M |
| AssuredPartners Investment Advisors, LLC | — | — | — | 11K | 80K | 76K | $2M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 29K | 23K | 22K | — | 38K | 76K | $2M |
| MML INVESTORS SERVICES, LLC | — | 12K | 13K | 13K | — | 67K | $2M |
| Sanctuary Advisors, LLC | — | 56K | 62K | 120K | 65K | 67K | $2M |
| INDEPENDENT FINANCIAL GROUP, LLC | — | — | 41K | 65K | 65K | 65K | $1M |
| Integrated Wealth Concepts LLC | — | 15K | 22K | 47K | 52K | 59K | $1M |
| WORLD EQUITY GROUP, INC. | 83K | 89K | 50K | 53K | 55K | 58K | $1M |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 50 | 4,933,918 | — | $98M |
| 2025-Q4 | 41 | 3,349,583 | — | $77M |
| 2025-Q3 | 33 | 4,026,766 | — | $90M |
| 2025-Q2 | 31 | 3,592,682 | — | $76M |
| 2025-Q1 | 27 | 3,972,822 | — | $80M |
| 2024-Q4 | 22 | 1,979,508 | — | $42M |
| 2024-Q3 | 11 | 415,100 | — | $11M |
| 2024-Q2 | 3 | 128,069 | — | $3M |
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| ENVESTNET ASSET MANAGEMENT INC | +779,741 | $18M | ADD |
| Cambridge Investment Research Advisors, Inc. | +273,495 | $6M | ADD |
| OSAIC HOLDINGS, INC. | +158,176 | $4M | ADD |
| Advisory Services Network, LLC | +135,822 | $3M | ADD |
| MML INVESTORS SERVICES, LLC | +67,314 | $2M | OPEN |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Geneos Wealth Management Inc. | −80,241 | $2M | TRIM |
| OLD MISSION CAPITAL LLC | −68,040 | $2M | CLOSE |
| CITADEL ADVISORS LLC | −20,344 | $469,133 | TRIM |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | −16,456 | $379,475 | TRIM |
| ARQ WEALTH ADVISORS, LLC | −11,556 | $266,481 | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
