% of shares outstanding is not shown for MOAT: 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 MOAT 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 | MORGAN STANLEY | 6,036,8646.0M | $584M | — | TRIM -6% |
| 2 | LPL Financial LLC | 5,830,3115.8M | $564M | — | TRIM -11% |
| 3 | BANK OF AMERICA CORP /DE/ | 5,732,5525.7M | $554M | — | TRIM -5% |
| 4 | RAYMOND JAMES FINANCIAL INC | 2,683,4852.7M | $259M | — | TRIM -12% |
| 5 | Mesirow Financial Investment Management, Inc. | 2,675,2942.7M | $259M | — | ADD 35% |
| 6 | Boulay Financial Advisors, LLC | 2,220,2122.2M | $215M | — | ADD 4% |
| 7 | WELLS FARGO & COMPANY/MN | 2,103,6562.1M | $203M | — | TRIM -8% |
| 8 | JONES FINANCIAL COMPANIES LLLP | 1,378,5731.4M | $130M | — | ADD 11% |
| 9 | COMMONWEALTH EQUITY SERVICES, LLC | 1,343,8811.3M | $130M | — | — |
| 10 | Cetera Investment Advisers | 1,157,9661.2M | $112M | — | — |
| 11 | UBS Group AG | 938,460938,460 | $91M | — | TRIM -15% |
| 12 | Provenance Wealth Advisors, LLC | 866,012866,012 | $84M | — | TRIM -3% |
| 13 | ROYAL BANK OF CANADA | 833,825833,825 | $81M | — | ADD 11% |
| 14 | FIRST FOUNDATION ADVISORS | 743,411743,411 | $72M | — | TRIM -2% |
| 15 | SFMG, LLC | 672,286672,286 | $65M | — | ADD 5% |
| 16 | Verde Capital Management | 658,249658,249 | $64M | — | ADD 5% |
| 17 | Cambridge Investment Research Advisors, Inc. | 656,051656,051 | $63M | — | TRIM -5% |
| 18 | OSAIC HOLDINGS, INC. | 638,646638,646 | $62M | — | ADD 9% |
| 19 | CWM, LLC | 624,885624,885 | $60M | — | TRIM -3% |
| 20 | UNITED CAPITAL FINANCIAL ADVISORS, LLC | 611,351611,351 | $59M | — | ADD 3% |
| 21 | AMERIPRISE FINANCIAL INC | 603,026603,026 | $58M | — | TRIM -35% |
| 22 | HighTower Advisors, LLC | 574,221574,221 | $56M | — | — |
| 23 | Kelman-Lazarov, Inc. | 561,025561,025 | $54M | — | — |
| 24 | ENVESTNET ASSET MANAGEMENT INC | 552,588552,588 | $53M | — | ADD 12% |
| 25 | Apriem Advisors | 542,530542,530 | $52M | — | ADD 6% |
| 26 | Leelyn Smith, LLC | 511,612511,612 | $49M | — | ADD 4% |
| 27 | Harbor Group, Inc. | 484,623484,623 | $47M | — | ADD 3% |
| 28 | REGATTA CAPITAL GROUP, LLC | 482,403482,403 | $47M | — | — |
| 29 | FINANCIAL MANAGEMENT NETWORK INC | 471,314471,314 | $47M | — | TRIM -3% |
| 30 | CAHILL FINANCIAL ADVISORS INC | 479,270479,270 | $46M | — | TRIM -15% |
| 31 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 452,163452,163 | $44M | — | TRIM -12% |
| 32 | Whitaker-Myers Wealth Managers, LTD. | 405,471405,471 | $39M | — | ADD 2% |
| 33 | G2 CAPITAL MANAGEMENT, LLC / OH | 404,482404,482 | $39M | — | — |
| 34 | CEERA INVESTMENTS, LLC | 393,572393,572 | $38M | — | TRIM -9% |
| 35 | Ancora Advisors LLC | 391,354391,354 | $38M | — | ADD 10% |
| 36 | Summit Asset Management, LLC | 386,988386,988 | $37M | — | — |
| 37 | Private Advisor Group, LLC | 379,060379,060 | $37M | — | TRIM -4% |
| 38 | STEPHENS INC /AR/ | 363,545363,545 | $35M | — | TRIM -3% |
| 39 | JNBA Financial Advisors | 358,066358,066 | $35M | — | TRIM -4% |
| 40 | Cerity Partners LLC | 351,201351,201 | $34M | — | ADD 3% |
| 41 | STIFEL FINANCIAL CORP | 323,188323,188 | $31M | — | TRIM -36% |
| 42 | MERCER GLOBAL ADVISORS INC /ADV | 322,809322,809 | $31M | — | TRIM -52% |
| 43 | OneDigital Investment Advisors LLC | 318,628318,628 | $31M | — | TRIM -32% |
| 44 | Richmond Investment Services, LLC | 302,917302,917 | $29M | — | ADD 2% |
| 45 | Planned Solutions, Inc. | 291,485291,485 | $28M | — | — |
| 46 | ASSETMARK, INC | 285,066285,066 | $28M | — | — |
| 47 | LEVEL FOUR ADVISORY SERVICES, LLC | 279,722279,722 | $27M | — | TRIM -6% |
| 48 | Mariner, LLC | 278,667278,667 | $27M | — | ADD 63% |
| 49 | Buttonwood Financial Advisors Inc. | 274,353274,353 | $27M | — | TRIM -4% |
| 50 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 284,664284,664 | $26M | — | TRIM -20% |
| 51 | Brookstone Capital Management | 270,078270,078 | $26M | — | TRIM -3% |
| 52 | Concurrent Investment Advisors, LLC | 265,625265,625 | $26M | — | ADD 4% |
| 53 | Geneos Wealth Management Inc. | 253,091253,091 | $24M | — | TRIM -3% |
| 54 | Virtus Wealth Solutions LLC | 248,065248,065 | $24M | — | — |
| 55 | Integrated Wealth Concepts LLC | 246,468246,468 | $24M | — | ADD 5136% |
| 56 | Rockefeller Capital Management L.P. | 235,842235,842 | $23M | — | ADD 3% |
| 57 | Bank of New York Mellon Corp | 234,293234,293 | $23M | — | ADD 13% |
| 58 | Creative Planning | 232,406232,406 | $22M | — | ADD 8% |
| 59 | Equitable Holdings, Inc. | 220,334220,334 | $22M | — | ADD 188% |
| 60 | Wealthcare Advisory Partners LLC | 219,384219,384 | $21M | — | ADD 3% |
| 61 | Summit Financial, LLC | 215,439215,439 | $21M | — | — |
| 62 | Berkshire Money Management, Inc. | 215,158215,158 | $21M | — | — |
| 63 | Steward Partners Investment Advisory, LLC | 213,756213,756 | $21M | — | — |
| 64 | KRM WEALTH MANAGEMENT L.L.C. | 206,304206,304 | $20M | — | ADD 3% |
| 65 | Prospera Financial Services Inc | 205,801205,801 | $20M | — | — |
| 66 | Visionary Wealth Advisors | 205,555205,555 | $20M | — | TRIM -3% |
| 67 | Harbour Trust & Investment Management Co | 203,944203,944 | $20M | — | ADD 4% |
| 68 | Ethos Financial Group, LLC | 203,930203,930 | $20M | — | — |
| 69 | Activest Wealth Management | 199,112199,112 | $19M | — | TRIM -16% |
| 70 | Etesian Wealth Advisors, Inc. | 196,364196,364 | $19M | — | ADD 3% |
| 71 | Altus Wealth Group LLC | 196,074196,074 | $19M | — | ADD 4% |
| 72 | MML INVESTORS SERVICES, LLC | 194,212194,212 | $19M | — | TRIM -11% |
| 73 | Graver Capital Management, LLC | 191,550191,550 | $19M | — | ADD 8% |
| 74 | Beaumont Asset Management, L.L.C. | 186,512186,512 | $18M | — | TRIM -13% |
| 75 | James J. Burns & Company, LLC | 182,613182,613 | $18M | — | ADD 6% |
| 76 | New England Private Wealth Advisors LLC | 172,083172,083 | $17M | — | TRIM -4% |
| 77 | GOLDMAN SACHS GROUP INC | 170,373170,373 | $16M | — | NEW |
| 78 | MAI Capital Management | 164,447164,447 | $16M | — | — |
| 79 | CITIGROUP INC | 158,734158,734 | $15M | — | TRIM -14% |
| 80 | Tanager Wealth Management LLP | 149,422149,422 | $14M | — | TRIM -6% |
| 81 | HBW ADVISORY SERVICES LLC | 148,339148,339 | $14M | — | TRIM -13% |
| 82 | IFP Advisors, Inc | 146,391146,391 | $14M | — | TRIM -9% |
| 83 | DAVENPORT & Co LLC | 144,328144,328 | $14M | — | TRIM -12% |
| 84 | KESTRA PRIVATE WEALTH SERVICES, LLC | 141,280141,280 | $14M | — | TRIM -9% |
| 85 | Sanctuary Advisors, LLC | 141,006141,006 | $14M | — | TRIM -4% |
| 86 | Baird Financial Group, Inc. | 137,663137,663 | $13M | — | ADD 20% |
| 87 | Joseph Group Capital Management | 136,439136,439 | $13M | — | — |
| 88 | Family Office Research LLC | 134,500134,500 | $13M | — | TRIM -3% |
| 89 | Sequoia Financial Advisors, LLC | 131,329131,329 | $13M | — | TRIM -14% |
| 90 | AlphaCore Capital LLC | 130,752130,752 | $13M | — | ADD 4% |
| 91 | Goldstone Financial Group, LLC | 130,566130,566 | $13M | — | TRIM -3% |
| 92 | JPMORGAN CHASE & CO | 130,935130,935 | $12M | — | ADD 6% |
| 93 | OPPENHEIMER & CO INC | 126,878126,878 | $12M | — | ADD 2% |
| 94 | &PARTNERS | 126,782126,782 | $12M | — | ADD 8% |
| 95 | INDEPENDENT FINANCIAL GROUP, LLC | 126,479126,479 | $12M | — | — |
| 96 | Napier Financial, LLC | 124,658124,658 | $12M | — | — |
| 97 | Fermata Advisors, LLC | 124,240124,240 | $12M | — | — |
| 98 | Robertson Stephens Wealth Management, LLC | 123,900123,900 | $12M | — | — |
| 99 | Coastline Complete Wealth LLC | 123,709123,709 | $12M | — | TRIM -4% |
| 100 | Mirae Asset Global Investments Co., Ltd. | 120,000120,000 | $12M | — | TRIM -53% |
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 | 8.8M | 7.8M | 6.8M | 6.6M | 6.4M | 6.0M | $584M |
| LPL Financial LLC | 7.3M | 7.0M | 6.6M | 6.4M | 6.6M | 5.8M | $564M |
| BANK OF AMERICA CORP /DE/ | 8.0M | 7.2M | 6.8M | 6.3M | 6.0M | 5.7M | $554M |
| RAYMOND JAMES FINANCIAL INC | 5.4M | 4.5M | 3.8M | 3.2M | 3.0M | 2.7M | $259M |
| Mesirow Financial Investment Management, Inc. | 3.5M | 2.7M | 2.7M | 2.6M | 2.0M | 2.7M | $259M |
| Boulay Financial Advisors, LLC | — | 1.8M | 2.1M | 2.1M | 2.1M | 2.2M | $215M |
| WELLS FARGO & COMPANY/MN | 2.7M | 2.6M | 2.4M | 2.3M | 2.3M | 2.1M | $203M |
| JONES FINANCIAL COMPANIES LLLP | 681K | 883K | 993K | 1.1M | 1.2M | 1.4M | $130M |
| COMMONWEALTH EQUITY SERVICES, LLC | 2.2M | 2.1M | 1.8M | 1.6M | 1.4M | 1.3M | $130M |
| Cetera Investment Advisers | 767K | 807K | 612K | 1.2M | 1.2M | 1.2M | $112M |
| UBS Group AG | 1.9M | 1.1M | 1.4M | 975K | 1.1M | 938K | $91M |
| Provenance Wealth Advisors, LLC | 1.1M | 1.1M | 919K | 913K | 891K | 866K | $84M |
| ROYAL BANK OF CANADA | 1.1M | 1.0M | 1.5M | 749K | 752K | 834K | $81M |
| FIRST FOUNDATION ADVISORS | 1.1M | 1.1M | 876K | 800K | 761K | 743K | $72M |
| SFMG, LLC | 584K | 604K | 616K | 631K | 641K | 672K | $65M |
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 | |
|---|---|---|---|
| Mesirow Financial Investment Management, Inc. | +690,768 | $67M | ADD |
| Integrated Wealth Concepts LLC | +241,761 | $23M | ADD |
| GOLDMAN SACHS GROUP INC | +170,373 | $16M | OPEN |
| Equitable Holdings, Inc. | +143,750 | $14M | ADD |
| JONES FINANCIAL COMPANIES LLLP | +139,689 | $14M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Southern Farm Bureau Life Insurance | −1,107,967 | $107M | CLOSE |
| LPL Financial LLC | −753,346 | $73M | TRIM |
| MORGAN STANLEY | −377,677 | $37M | TRIM |
| RAYMOND JAMES FINANCIAL INC | −352,025 | $34M | TRIM |
| MERCER GLOBAL ADVISORS INC /ADV | −343,025 | $33M | 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 | 711 | 70,563,872 | — | $6.8B |
| 2025-Q4 | 721 | 74,963,947 | — | $7.7B |
| 2025-Q3 | 677 | 75,770,950 | — | $7.5B |
| 2025-Q2 | 690 | 81,636,403 | — | $7.7B |
| 2025-Q1 | 703 | 91,155,206 | — | $8.0B |
| 2024-Q4 | 710 | 98,311,454 | — | $9.1B |
| 2024-Q3 | 670 | 98,474,471 | — | $9.5B |
| 2024-Q2 | 659 | 96,854,927 | — | $8.4B |
| 2024-Q1 | 631 | 115,865,604 | — | $10.4B |
| 2023-Q4 | 614 | 98,571,337 | — | $8.4B |
| 2023-Q3 | 520 | 76,471,342 | — | $5.8B |
| 2023-Q2 | 458 | 70,151,189 | — | $5.3B |
| 2023-Q1 | 379 | 53,306,139 | — | $3.9B |
| 2022-Q4 | 373 | 50,045,351 | — | $3.2B |
| 2022-Q3 | 349 | 48,612,712 | — | $2.9B |
| 2022-Q2 | 341 | 47,056,839 | — | $3.0B |
| 2022-Q1 | 345 | 46,343,522 | — | $3.4B |
| 2021-Q4 | 347 | 44,554,847 | — | $3.4B |
| 2021-Q3 | 306 | 39,908,901 | — | $2.9B |
| 2021-Q2 | 301 | 38,469,303 | — | $2.8B |
| 2021-Q1 | 277 | 34,179,398 | — | $2.4B |
| 2020-Q4 | 253 | 29,688,972 | — | $1.8B |
| 2020-Q3 | 224 | 26,908,319 | — | $1.5B |
| 2020-Q2 | 227 | 26,750,967 | — | $1.4B |
| 2020-Q1 | 210 | 23,556,030 | — | $1.0B |
| 2019-Q4 | 223 | 25,296,847 | — | $1.4B |
| 2019-Q3 | 176 | 19,761,958 | — | $998M |
| 2019-Q2 | 174 | 18,701,988 | — | $910M |
| 2019-Q1 | 170 | 16,706,154 | — | $789M |
| 2018-Q4 | 139 | 13,898,729 | — | $573M |
| 2018-Q3 | 128 | 10,289,304 | — | $473M |
| 2018-Q2 | 125 | 11,694,893 | — | $502M |
| 2018-Q1 | 131 | 12,108,421 | — | $502M |
| 2017-Q4 | 110 | 11,638,973 | — | $494M |
| 2017-Q3 | 96 | 8,970,704 | — | $362M |
| 2017-Q2 | 95 | 8,395,356 | — | $332M |
| 2017-Q1 | 79 | 9,104,225 | — | $342M |
| 2016-Q4 | 76 | 8,540,060 | — | $298M |
| 2016-Q3 | 61 | 5,121,797 | — | $174M |
| 2016-Q2 | 58 | 5,351,272 | — | $174M |
| 2016-Q1 | 1 | 15,896 | — | $741,000 |
