% of shares outstanding is not shown for FAD: 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 FAD in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
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 |
|---|---|---|---|---|---|---|---|
| MORGAN STANLEY | 97K | 97K | 202K | 296K | 308K | 242K | $39M |
| LPL Financial LLC | 89K | 111K | 102K | 126K | 125K | 198K | $31M |
| WELLS FARGO & COMPANY/MN | 26K | 24K | 124K | 130K | 137K | 175K | $28M |
| RAYMOND JAMES FINANCIAL INC | 82K | 83K | 135K | 118K | 139K | 94K | $15M |
| COMMONWEALTH EQUITY SERVICES, LLC | 63K | 62K | 65K | 59K | 58K | 61K | $10M |
| GOLDMAN SACHS GROUP INC | 50K | 50K | 52K | 50K | 50K | 50K | $8M |
| TRUIST FINANCIAL CORP | 39K | 46K | 49K | 51K | 47K | 49K | $8M |
| OSAIC HOLDINGS, INC. | 2K | 3K | 5K | 48K | 49K | 46K | $7M |
| Plotkin Financial Advisors, LLC | 46K | 46K | 46K | 46K | 45K | 45K | $7M |
| BANK OF AMERICA CORP /DE/ | 29K | 29K | 32K | 30K | 30K | 42K | $7M |
| ROYAL BANK OF CANADA | 24K | 25K | 50K | 27K | 32K | 34K | $5M |
| Kestra Advisory Services, LLC | 2K | 2K | 6K | 9K | 9K | 31K | $5M |
| RPg Family Wealth Advisory, LLC | 11K | 33K | 33K | 33K | 32K | 30K | $5M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | — | 2K | 30K | 35K | 7K | 30K | $5M |
| JONES FINANCIAL COMPANIES LLLP | 3K | 9K | 11K | 12K | 17K | 30K | $5M |
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 | |
|---|---|---|---|
| LPL Financial LLC | +72,825 | $12M | ADD |
| WELLS FARGO & COMPANY/MN | +38,041 | $6M | ADD |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | +22,508 | $4M | ADD |
| Kestra Advisory Services, LLC | +22,355 | $4M | ADD |
| Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors | +13,629 | $2M | OPEN |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| MORGAN STANLEY | −66,004 | $10M | TRIM |
| Keystone Wealth Services, LLC | −53,800 | $9M | CLOSE |
| RAYMOND JAMES FINANCIAL INC | −44,979 | $7M | TRIM |
| Vantus Wealth LLC | −8,275 | $1M | CLOSE |
| Janney Montgomery Scott LLC | −7,905 | $1M | 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 | 99 | 1,642,672 | — | $261M |
| 2025-Q4 | 94 | 1,562,095 | — | $251M |
| 2025-Q3 | 83 | 1,425,881 | — | $229M |
| 2025-Q2 | 78 | 1,244,570 | — | $183M |
| 2025-Q1 | 71 | 949,438 | — | $123M |
| 2024-Q4 | 71 | 792,179 | — | $109M |
| 2024-Q3 | 65 | 1,154,794 | — | $117M |
| 2024-Q2 | 58 | 887,387 | — | $109M |
| 2024-Q1 | 55 | 945,496 | — | $118M |
| 2023-Q4 | 55 | 872,484 | — | $98M |
| 2023-Q3 | 57 | 882,282 | — | $88M |
| 2023-Q2 | 52 | 929,344 | — | $98M |
| 2023-Q1 | 53 | 897,690 | — | $88M |
| 2022-Q4 | 57 | 913,724 | — | $85M |
| 2022-Q3 | 45 | 833,850 | — | $75M |
| 2022-Q2 | 48 | 857,947 | — | $78M |
| 2022-Q1 | 56 | 1,027,910 | — | $114M |
| 2021-Q4 | 52 | 1,083,116 | — | $136M |
| 2021-Q3 | 49 | 996,809 | — | $118M |
| 2021-Q2 | 49 | 829,358 | — | $99M |
| 2021-Q1 | 51 | 869,406 | — | $94M |
| 2020-Q4 | 48 | 901,329 | — | $94M |
| 2020-Q3 | 43 | 935,994 | — | $81M |
| 2020-Q2 | 41 | 889,540 | — | $69M |
| 2020-Q1 | 46 | 922,257 | — | $55M |
| 2019-Q4 | 50 | 1,106,567 | — | $86M |
| 2019-Q3 | 46 | 1,028,838 | — | $76M |
| 2019-Q2 | 42 | 1,042,144 | — | $78M |
| 2019-Q1 | 46 | 1,241,079 | — | $89M |
| 2018-Q4 | 43 | 1,309,045 | — | $80M |
| 2018-Q3 | 44 | 1,497,703 | — | $113M |
| 2018-Q2 | 45 | 1,134,847 | — | $79M |
| 2018-Q1 | 37 | 682,698 | — | $46M |
| 2017-Q4 | 40 | 811,820 | — | $53M |
| 2017-Q3 | 37 | 750,748 | — | $46M |
| 2017-Q2 | 42 | 664,570 | — | $39M |
| 2017-Q1 | 36 | 802,258 | — | $45M |
| 2016-Q4 | 33 | 619,096 | — | $32M |
| 2016-Q3 | 34 | 609,894 | — | $32M |
| 2016-Q2 | 35 | 605,118 | — | $31M |
| 2016-Q1 | 29 | 850,713 | — | $43M |
| 2015-Q4 | 30 | 971,950 | — | $48M |
| 2015-Q3 | 28 | 670,374 | — | $32M |
| 2015-Q2 | 29 | 420,491 | — | $22M |
| 2015-Q1 | 30 | 465,009 | — | $24M |
| 2014-Q4 | 34 | 586,980 | — | $29M |
| 2014-Q3 | 27 | 594,563 | — | $27M |
| 2014-Q2 | 25 | 482,767 | — | $23M |
| 2014-Q1 | 19 | 488,078 | — | $22M |
| 2013-Q4 | 18 | 414,136 | — | $19M |
| 2013-Q3 | 15 | 364,506 | — | $15M |
| 2013-Q2 | 13 | 419,961 | — | $16M |
