% of shares outstanding is not shown for DBEF: 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 DBEF 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 | GOLDMAN SACHS GROUP INC | 20,710,54620.7M | $1.0B | — | — |
| 2 | AMERIPRISE FINANCIAL INC | 14,441,37014.4M | $714M | — | — |
| 3 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 7,572,2867.6M | $374M | — | TRIM -2% |
| 4 | MORGAN STANLEY | 7,522,8067.5M | $372M | — | — |
| 5 | BANK OF AMERICA CORP /DE/ | 6,415,2736.4M | $317M | — | — |
| 6 | ENVESTNET ASSET MANAGEMENT INC | 4,263,8004.3M | $211M | — | ADD 103% |
| 7 | LPL Financial LLC | 4,131,6984.1M | $204M | — | TRIM -14% |
| 8 | Corient Private Wealth LLC | 3,693,1033.7M | $182M | — | TRIM -57% |
| 9 | WELLS FARGO & COMPANY/MN | 3,235,2353.2M | $160M | — | ADD 4% |
| 10 | RAYMOND JAMES FINANCIAL INC | 2,569,9462.6M | $127M | — | — |
| 11 | UNITED CAPITAL FINANCIAL ADVISORS, LLC | 2,292,8682.3M | $113M | — | TRIM -3% |
| 12 | Cetera Investment Advisers | 1,753,7421.8M | $87M | — | ADD 16% |
| 13 | RAINEY & RANDALL WEALTH ADVISORS INC. | 1,525,4131.5M | $75M | — | — |
| 14 | Bleakley Financial Group, LLC | 1,497,4711.5M | $74M | — | ADD 18% |
| 15 | MOSAIC FAMILY WEALTH PARTNERS, LLC | 1,497,1011.5M | $74M | — | — |
| 16 | UBS Group AG | 1,291,3321.3M | $64M | — | TRIM -4% |
| 17 | ROYAL BANK OF CANADA | 1,267,8111.3M | $63M | — | TRIM -11% |
| 18 | BANK OF MONTREAL /CAN/ | 1,190,2021.2M | $59M | — | — |
| 19 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 1,166,5941.2M | $58M | — | TRIM -48% |
| 20 | FLOW TRADERS U.S. LLC | 1,096,9171.1M | $54M | — | NEW |
| 21 | OSAIC HOLDINGS, INC. | 987,192987,192 | $49M | — | TRIM -6% |
| 22 | Beacon Pointe Advisors, LLC | 954,078954,078 | $47M | — | ADD 7% |
| 23 | FIFTH THIRD BANCORP | 927,382927,382 | $46M | — | ADD 9346% |
| 24 | Hilltop Partners LLC | 924,359924,359 | $46M | — | ADD 52% |
| 25 | HSBC HOLDINGS PLC | 875,065875,065 | $43M | — | TRIM -49% |
| 26 | Wealthcare Advisory Partners LLC | 794,798794,798 | $39M | — | ADD 4% |
| 27 | Crewe Advisors LLC | 763,453763,453 | $38M | — | — |
| 28 | MERCER GLOBAL ADVISORS INC /ADV | 725,336725,336 | $36M | — | TRIM -43% |
| 29 | Focus Partners Wealth | 721,246721,246 | $36M | — | TRIM -23% |
| 30 | SACHEM HILL LLC | 715,970715,970 | $35M | — | — |
| 31 | COMMONWEALTH EQUITY SERVICES, LLC | 693,596693,596 | $34M | — | TRIM -28% |
| 32 | Whitaker-Myers Wealth Managers, LTD. | 677,831677,831 | $33M | — | ADD 3% |
| 33 | STIFEL FINANCIAL CORP | 607,919607,919 | $30M | — | — |
| 34 | TRUIST FINANCIAL CORP | 590,373590,373 | $29M | — | TRIM -14% |
| 35 | COFG Advisors, LLC | 556,905556,905 | $28M | — | — |
| 36 | WESCAP Management Group, Inc. | 556,186556,186 | $27M | — | ADD 4% |
| 37 | Blankinship & Foster, LLC | 521,611521,611 | $26M | — | TRIM -5% |
| 38 | BURKETT FINANCIAL SERVICES, LLC | 494,440494,440 | $24M | — | — |
| 39 | Cambridge Investment Research Advisors, Inc. | 493,713493,713 | $24M | — | ADD 5% |
| 40 | Baird Financial Group, Inc. | 453,194453,194 | $22M | — | — |
| 41 | High Note Wealth, LLC | 432,988432,988 | $21M | — | ADD 2% |
| 42 | COMMERCE BANK | 409,939409,939 | $20M | — | ADD 36% |
| 43 | JPMORGAN CHASE & CO | 417,881417,881 | $20M | — | TRIM -4% |
| 44 | Financial Insights, Inc. | 396,701396,701 | $20M | — | ADD 8% |
| 45 | MML INVESTORS SERVICES, LLC | 360,685360,685 | $18M | — | TRIM -21% |
| 46 | Annex Advisory Services, LLC | 354,816354,816 | $18M | — | ADD 8% |
| 47 | TrueWealth Advisors, LLC | 347,913347,913 | $17M | — | — |
| 48 | DROMS STRAUSS ADVISORS INC /MO/ /ADV | 314,782314,782 | $16M | — | NEW |
| 49 | Wellington Grp LLC | 311,310311,310 | $15M | — | ADD 14% |
| 50 | CITIGROUP INC | 310,595310,595 | $15M | — | ADD 5% |
| 51 | JANE STREET GROUP, LLC | 310,116310,116 | $15M | — | ADD 686% |
| 52 | JONES FINANCIAL COMPANIES LLLP | 312,753312,753 | $15M | — | ADD 12% |
| 53 | Private Advisor Group, LLC | 277,570277,570 | $14M | — | ADD 76% |
| 54 | Merit Financial Group, LLC | 276,423276,423 | $14M | — | ADD 8% |
| 55 | Concurrent Investment Advisors, LLC | 276,098276,098 | $14M | — | — |
| 56 | Tradition Wealth Management, LLC | 272,546272,546 | $13M | — | TRIM -42% |
| 57 | Ethos Financial Group, LLC | 271,799271,799 | $13M | — | ADD 11% |
| 58 | VICUS CAPITAL | 270,482270,482 | $13M | — | ADD 3% |
| 59 | Cerity Partners LLC | 270,420270,420 | $13M | — | TRIM -7% |
| 60 | Embree Financial Group | 256,522256,522 | $13M | — | TRIM -11% |
| 61 | Janney Montgomery Scott LLC | 255,234255,234 | $13M | — | ADD 16% |
| 62 | World Investment Advisors | 240,072240,072 | $12M | — | ADD 32% |
| 63 | LODESTAR PRIVATE ASSET MANAGEMENT LLC | 227,847227,847 | $11M | — | — |
| 64 | Aptus Capital Advisors, LLC | 227,074227,074 | $11M | — | — |
| 65 | ARQ WEALTH ADVISORS, LLC | 219,774219,774 | $11M | — | ADD 7% |
| 66 | Stratos Wealth Partners, LTD. | 217,162217,162 | $11M | — | TRIM -29% |
| 67 | CALTON & ASSOCIATES, INC. | 216,330216,330 | $11M | — | — |
| 68 | CENTRAL TRUST Co | 202,348202,348 | $10M | — | TRIM -15% |
| 69 | PARTNERS CAPITAL INVESTMENT GROUP, LLP | 199,828199,828 | $10M | — | ADD 14% |
| 70 | Farther Finance Advisors, LLC | 194,933194,933 | $10M | — | — |
| 71 | Benchmark Financial Wealth Advisors, LLC | 188,914188,914 | $9M | — | ADD 14% |
| 72 | TME FINANCIAL, INC. | 182,083182,083 | $9M | — | TRIM -8% |
| 73 | Quotient Wealth Partners, LLC | 179,394179,394 | $9M | — | TRIM -3% |
| 74 | Tactive Advisors, LLC | 179,317179,317 | $9M | — | TRIM -7% |
| 75 | Prime Capital Investment Advisors, LLC | 176,574176,574 | $9M | — | TRIM -3% |
| 76 | Alexis Investment Partners, LLC | 179,222179,222 | $9M | — | ADD 19% |
| 77 | Capital Developers, LLC | 163,562163,562 | $8M | — | — |
| 78 | Mariner, LLC | 160,558160,558 | $8M | — | ADD 13% |
| 79 | THOROUGHBRED FINANCIAL SERVICES, LLC | 160,160160,160 | $8M | — | — |
| 80 | Equitable Holdings, Inc. | 155,064155,064 | $7M | — | ADD 6% |
| 81 | Ruggaard & Associates LLC | 149,613149,613 | $7M | — | ADD 4% |
| 82 | US BANCORP \DE\ | 148,473148,473 | $7M | — | TRIM -4% |
| 83 | NewSquare Capital LLC | 146,150146,150 | $7M | — | ADD 3% |
| 84 | Vestmark Advisory Solutions, Inc. | 145,437145,437 | $7M | — | ADD 25% |
| 85 | Carter Financial Group, INC. | 138,374138,374 | $7M | — | ADD 3% |
| 86 | Cooper Financial Group | 137,462137,462 | $7M | — | — |
| 87 | Thrivent Financial for Lutherans | 135,766135,766 | $7M | — | ADD 4% |
| 88 | SUMMIT WEALTH GROUP LLC / CO | 134,284134,284 | $7M | — | ADD 39% |
| 89 | Investors Research Corp | 131,770131,770 | $7M | — | ADD 6% |
| 90 | Fiduciary Planning LLC | 130,130130,130 | $6M | — | ADD 5% |
| 91 | Forefront Analytics, LLC | 126,892126,892 | $6M | — | — |
| 92 | Next Level Private LLC | 124,492124,492 | $6M | — | — |
| 93 | Visionary Wealth Advisors | 123,132123,132 | $6M | — | — |
| 94 | Holos Integrated Wealth LLC | 115,168115,168 | $6M | — | TRIM -4% |
| 95 | KESTRA PRIVATE WEALTH SERVICES, LLC | 114,576114,576 | $6M | — | ADD 2% |
| 96 | Chesapeake Wealth Management | 113,752113,752 | $6M | — | ADD 8% |
| 97 | RAINIER FAMILY WEALTH INC | 110,223110,223 | $5M | — | ADD 4% |
| 98 | DIVERSIFY WEALTH MANAGEMENT, LLC | 105,321105,321 | $5M | — | TRIM -18% |
| 99 | MAI Capital Management | 106,355106,355 | $5M | — | — |
| 100 | IHT Wealth Management, LLC | 103,839103,839 | $5M | — | ADD 21% |
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 |
|---|---|---|---|---|---|---|---|
| GOLDMAN SACHS GROUP INC | 22.1M | 21.8M | 21.1M | 20.9M | 20.6M | 20.7M | $1.0B |
| AMERIPRISE FINANCIAL INC | 12.9M | 16.0M | 17.2M | 15.3M | 14.2M | 14.4M | $714M |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 9.3M | 10.7M | 10.7M | 9.7M | 7.8M | 7.6M | $374M |
| MORGAN STANLEY | 6.6M | 7.0M | 6.8M | 7.5M | 7.6M | 7.5M | $372M |
| BANK OF AMERICA CORP /DE/ | 6.8M | 7.1M | 6.7M | 6.6M | 6.4M | 6.4M | $317M |
| ENVESTNET ASSET MANAGEMENT INC | 4.8M | 4.4M | 4.5M | 4.4M | 2.1M | 4.3M | $211M |
| LPL Financial LLC | 3.5M | 4.3M | 4.4M | 4.7M | 4.8M | 4.1M | $204M |
| Corient Private Wealth LLC | 25K | 5.6M | 5.9M | 5.4M | 8.7M | 3.7M | $182M |
| WELLS FARGO & COMPANY/MN | 3.0M | 3.4M | 2.8M | 3.0M | 3.1M | 3.2M | $160M |
| RAYMOND JAMES FINANCIAL INC | 1.8M | 2.0M | 2.1M | 2.3M | 2.5M | 2.6M | $127M |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC | 2.6M | 2.6M | 2.5M | 2.4M | 2.4M | 2.3M | $113M |
| Cetera Investment Advisers | 949K | 886K | 932K | 1.4M | 1.5M | 1.8M | $87M |
| RAINEY & RANDALL WEALTH ADVISORS INC. | 1.4M | 1.4M | 1.5M | 1.5M | 1.5M | 1.5M | $75M |
| Bleakley Financial Group, LLC | — | — | — | — | 1.3M | 1.5M | $74M |
| MOSAIC FAMILY WEALTH PARTNERS, LLC | 1.5M | 1.5M | 1.5M | 1.5M | 1.5M | 1.5M | $74M |
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.
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 | +2,161,428 | $107M | ADD |
| FLOW TRADERS U.S. LLC | +1,096,917 | $54M | OPEN |
| FIFTH THIRD BANCORP | +917,564 | $45M | ADD |
| Hilltop Partners LLC | +314,989 | $16M | ADD |
| DROMS STRAUSS ADVISORS INC /MO/ /ADV | +314,782 | $16M | OPEN |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Corient Private Wealth LLC | −4,969,761 | $246M | TRIM |
| O'Brien Wealth Partners LLC | −1,199,151 | $59M | CLOSE |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | −1,083,199 | $54M | TRIM |
| COMERICA BANK | −987,939 | $49M | CLOSE |
| HSBC HOLDINGS PLC | −855,693 | $42M | 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).
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 431 | 122,711,948 | — | $6.1B |
| 2025-Q4 | 422 | 129,109,761 | — | $6.2B |
| 2025-Q3 | 397 | 130,213,623 | — | $6.0B |
| 2025-Q2 | 392 | 134,396,434 | — | $5.9B |
| 2025-Q1 | 390 | 134,648,347 | — | $5.8B |
| 2024-Q4 | 364 | 123,419,909 | — | $5.1B |
| 2024-Q3 | 333 | 113,956,004 | — | $4.8B |
| 2024-Q2 | 327 | 109,317,071 | — | $4.5B |
| 2024-Q1 | 308 | 113,025,951 | — | $4.6B |
| 2023-Q4 | 293 | 105,326,355 | — | $3.9B |
| 2023-Q3 | 258 | 91,704,062 | — | $3.2B |
| 2023-Q2 | 250 | 90,718,689 | — | $3.2B |
| 2023-Q1 | 243 | 85,945,423 | — | $3.0B |
| 2022-Q4 | 232 | 86,535,302 | — | $2.8B |
| 2022-Q3 | 233 | 87,817,091 | — | $2.9B |
| 2022-Q2 | 241 | 89,488,254 | — | $3.1B |
| 2022-Q1 | 239 | 88,859,967 | — | $3.3B |
| 2021-Q4 | 248 | 87,376,605 | — | $3.4B |
| 2021-Q3 | 236 | 83,974,484 | — | $3.2B |
| 2021-Q2 | 235 | 80,227,239 | — | $3.0B |
| 2021-Q1 | 229 | 78,965,574 | — | $2.9B |
| 2020-Q4 | 226 | 80,674,595 | — | $2.7B |
| 2020-Q3 | 213 | 83,121,127 | — | $2.5B |
| 2020-Q2 | 227 | 87,853,669 | — | $2.7B |
| 2020-Q1 | 239 | 100,835,662 | — | $2.7B |
| 2019-Q4 | 259 | 109,177,204 | — | $3.7B |
| 2019-Q3 | 238 | 107,883,951 | — | $3.5B |
| 2019-Q2 | 239 | 109,833,349 | — | $3.5B |
| 2019-Q1 | 237 | 113,534,802 | — | $3.5B |
| 2018-Q4 | 240 | 130,231,320 | — | $3.6B |
| 2018-Q3 | 238 | 130,429,457 | — | $4.2B |
| 2018-Q2 | 240 | 133,584,134 | — | $4.2B |
| 2018-Q1 | 232 | 134,946,401 | — | $4.1B |
| 2017-Q4 | 237 | 155,603,253 | — | $5.0B |
| 2017-Q3 | 206 | 153,545,225 | — | $4.8B |
| 2017-Q2 | 201 | 163,155,672 | — | $4.9B |
| 2017-Q1 | 196 | 171,686,308 | — | $5.1B |
| 2016-Q4 | 201 | 171,936,948 | — | $4.8B |
| 2016-Q3 | 180 | 183,658,763 | — | $4.8B |
| 2016-Q2 | 185 | 304,971,050 | — | $7.6B |
| 2016-Q1 | 190 | 334,567,930 | — | $8.5B |
| 2015-Q4 | 215 | 363,708,287 | — | $9.9B |
| 2015-Q3 | 192 | 374,361,260 | — | $9.8B |
| 2015-Q2 | 173 | 317,788,905 | — | $9.1B |
| 2015-Q1 | 155 | 189,483,537 | — | $5.8B |
| 2014-Q4 | 81 | 53,142,424 | — | $1.5B |
| 2014-Q3 | 51 | 19,068,837 | — | $567M |
| 2014-Q2 | 41 | 15,756,206 | — | $470M |
| 2014-Q1 | 33 | 8,953,763 | — | $243M |
| 2013-Q4 | 29 | 7,573,614 | — | $208M |
| 2013-Q3 | 25 | 4,687,597 | — | $121M |
| 2013-Q2 | 20 | 3,749,094 | — | $90M |
