% of shares outstanding not shown: no SEC cover-page share count falls within 120 days of the 2026-Q1 quarter end, so any percentage would rest on a count that cannot speak for this quarter. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for IAE 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 | Saba Capital Management, L.P. | 1,618,7531.6M | $12M | — | TRIM -11% |
| 2 | RAYMOND JAMES FINANCIAL INC | 554,981554,981 | $4M | — | ADD 329% |
| 3 | MORGAN STANLEY | 470,550470,550 | $3M | — | TRIM -2% |
| 4 | Bulldog Investors, LLP | 441,260441,260 | $3M | — | ADD 4% |
| 5 | Shaker Financial Services, LLC | 249,953249,953 | $2M | — | ADD 26% |
| 6 | OSAIC HOLDINGS, INC. | 126,594126,594 | $933,009 | — | TRIM -16% |
| 7 | Private Advisor Group, LLC | 117,375117,375 | $865,054 | — | — |
| 8 | NWF Advisory Services Inc. | 113,950113,950 | $839,812 | — | — |
| 9 | WELLS FARGO & COMPANY/MN | 99,48299,482 | $733,186 | — | TRIM -7% |
| 10 | WOLVERINE ASSET MANAGEMENT LLC | 92,81092,810 | $684,010 | — | NEW |
| 11 | LPL Financial LLC | 48,63348,633 | $358,423 | — | ADD 2% |
| 12 | FIFTH THIRD BANCORP | 29,75529,755 | $219,294 | — | NEW |
| 13 | UHLMANN PRICE SECURITIES, LLC | 27,31227,312 | $201,293 | — | ADD 3% |
| 14 | DECISION INVESTMENTS, INC | 23,65823,658 | $174,359 | — | — |
| 15 | Cetera Investment Advisers | 18,81418,814 | $138,659 | — | ADD 36% |
| 16 | Closed-End Fund Advisors, Inc. | 16,74416,744 | $123,403 | — | TRIM -9% |
| 17 | XML Financial, LLC | 15,55115,551 | $114,611 | — | — |
| 18 | UBS Group AG | 11,46811,468 | $84,519 | — | TRIM -24% |
| 19 | Investment Management Trust, LLC | 10,33710,337 | $76,184 | — | NEW |
| 20 | RETIREMITTEN FINANCIAL LLC | 7,2007,200 | $53,064 | — | NEW |
| 21 | Advisory Services Network, LLC | 3,9363,936 | $29,008 | — | NEW |
| 22 | ROYAL BANK OF CANADA | 1,1191,119 | $8,000 | — | NEW |
| 23 | HIGHLINE WEALTH PARTNERS LLC | 736736 | $5,424 | — | ADD 84% |
| 24 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 661661 | $4,872 | — | NEW |
| 25 | Steward Partners Investment Advisory, LLC | 612612 | $4,510 | — | — |
| 26 | EASTERN BANK | 400400 | $2,948 | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Saba Capital Management, L.P. | 24K | 24K | 1.8M | 1.8M | 1.8M | 1.6M | $12M |
| RAYMOND JAMES FINANCIAL INC | 163K | 109K | 130K | 136K | 129K | 555K | $4M |
| MORGAN STANLEY | 473K | 504K | 512K | 503K | 482K | 471K | $3M |
| Bulldog Investors, LLP | — | — | 77K | 406K | 425K | 441K | $3M |
| Shaker Financial Services, LLC | 163K | 175K | 174K | 182K | 199K | 250K | $2M |
| OSAIC HOLDINGS, INC. | 111K | 137K | 148K | 146K | 150K | 127K | $933,009 |
| Private Advisor Group, LLC | 159K | 197K | 204K | 118K | 116K | 117K | $865,054 |
| NWF Advisory Services Inc. | — | 107K | 102K | 107K | 113K | 114K | $839,812 |
| WELLS FARGO & COMPANY/MN | 111K | 104K | 103K | 99K | 107K | 99K | $733,186 |
| WOLVERINE ASSET MANAGEMENT LLC | 190K | 177K | — | — | — | 93K | $684,010 |
| LPL Financial LLC | 14K | 14K | 14K | 13K | 48K | 49K | $358,423 |
| FIFTH THIRD BANCORP | — | — | — | — | — | 30K | $219,294 |
| UHLMANN PRICE SECURITIES, LLC | 24K | 25K | 25K | 26K | 27K | 27K | $201,293 |
| DECISION INVESTMENTS, INC | — | — | — | — | 24K | 24K | $174,359 |
| Cetera Investment Advisers | — | — | 12K | 14K | 14K | 19K | $138,659 |
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 | |
|---|---|---|---|
| RAYMOND JAMES FINANCIAL INC | +425,588 | $3M | ADD |
| WOLVERINE ASSET MANAGEMENT LLC | +92,810 | $684,010 | OPEN |
| Shaker Financial Services, LLC | +51,004 | $375,899 | ADD |
| FIFTH THIRD BANCORP | +29,755 | $219,294 | OPEN |
| Bulldog Investors, LLP | +16,352 | $120,514 | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Saba Capital Management, L.P. | −197,934 | $1M | TRIM |
| SIT INVESTMENT ASSOCIATES INC | −92,749 | $683,560 | CLOSE |
| COMERICA BANK | −27,632 | $203,648 | CLOSE |
| OSAIC HOLDINGS, INC. | −23,547 | $173,541 | TRIM |
| MORGAN STANLEY | −11,699 | $86,222 | 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 | 26 | 4,102,644 | — | $30M |
| 2025-Q4 | 23 | 3,824,616 | — | $28M |
| 2025-Q3 | 24 | 3,802,447 | — | $28M |
| 2025-Q2 | 26 | 3,880,050 | — | $27M |
| 2025-Q1 | 25 | 3,753,937 | — | $23M |
| 2024-Q4 | 24 | 4,157,673 | — | $25M |
| 2024-Q3 | 23 | 4,427,472 | — | $30M |
| 2024-Q2 | 25 | 4,893,432 | — | $31M |
| 2024-Q1 | 24 | 5,585,620 | — | $35M |
| 2023-Q4 | 26 | 5,710,564 | — | $34M |
| 2023-Q3 | 25 | 5,329,645 | — | $31M |
| 2023-Q2 | 20 | 4,553,838 | — | $28M |
| 2023-Q1 | 23 | 4,076,163 | — | $26M |
| 2022-Q4 | 24 | 3,676,901 | — | $23M |
| 2022-Q3 | 24 | 3,186,693 | — | $19M |
| 2022-Q2 | 21 | 2,888,439 | — | $20M |
| 2022-Q1 | 24 | 2,611,311 | — | $21M |
| 2021-Q4 | 31 | 2,389,289 | — | $19M |
| 2021-Q3 | 22 | 2,682,381 | — | $23M |
| 2021-Q2 | 25 | 3,051,611 | — | $30M |
| 2021-Q1 | 24 | 4,070,533 | — | $38M |
| 2020-Q4 | 22 | 4,703,141 | — | $41M |
| 2020-Q3 | 28 | 5,065,450 | — | $40M |
| 2020-Q2 | 24 | 5,166,018 | — | $40M |
| 2020-Q1 | 27 | 5,040,676 | — | $33M |
| 2019-Q4 | 31 | 5,555,567 | — | $47M |
| 2019-Q3 | 24 | 5,201,705 | — | $44M |
| 2019-Q2 | 26 | 5,366,424 | — | $50M |
| 2019-Q1 | 31 | 5,020,231 | — | $47M |
| 2018-Q4 | 32 | 4,612,409 | — | $39M |
| 2018-Q3 | 35 | 3,779,151 | — | $36M |
| 2018-Q2 | 28 | 3,466,749 | — | $35M |
| 2018-Q1 | 31 | 3,368,783 | — | $36M |
| 2017-Q4 | 32 | 3,339,591 | — | $35M |
| 2017-Q3 | 27 | 3,212,129 | — | $34M |
| 2017-Q2 | 27 | 2,989,842 | — | $31M |
| 2017-Q1 | 24 | 4,597,756 | — | $47M |
| 2016-Q4 | 26 | 5,619,041 | — | $49M |
| 2016-Q3 | 23 | 4,429,762 | — | $44M |
| 2016-Q2 | 28 | 5,939,904 | — | $53M |
| 2016-Q1 | 31 | 4,899,567 | — | $45M |
| 2015-Q4 | 34 | 4,374,751 | — | $39M |
| 2015-Q3 | 33 | 3,396,105 | — | $29M |
| 2015-Q2 | 30 | 3,299,536 | — | $39M |
| 2015-Q1 | 30 | 2,419,450 | — | $28M |
| 2014-Q4 | 33 | 2,204,775 | — | $25M |
| 2014-Q3 | 30 | 1,870,584 | — | $24M |
| 2014-Q2 | 31 | 1,895,886 | — | $25M |
