% 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 MSDL 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 | 15,874,36215.9M | $222M | — | — |
| 2 | Generali Asset Management SPA SGR | 1,829,9641.8M | $26M | — | — |
| 3 | UBS Group AG | 1,596,5961.6M | $22M | — | TRIM -4% |
| 4 | VAN ECK ASSOCIATES CORP | 1,433,9771.4M | $20M | — | TRIM -22% |
| 5 | RIVERNORTH CAPITAL MANAGEMENT, LLC | 1,052,3511.1M | $15M | — | ADD 38% |
| 6 | TWO SIGMA INVESTMENTS, LP | 889,349889,349 | $12M | — | ADD 5% |
| 7 | Muzinich & Co., Inc. | 767,802767,802 | $11M | — | — |
| 8 | Russell Investments Group, Ltd. | 721,949721,949 | $10M | — | ADD 198% |
| 9 | Altshuler Shaham Ltd | 650,437650,437 | $9M | — | — |
| 10 | AMERICAN FINANCIAL GROUP INC | 631,500631,500 | $9M | — | ADD 19% |
| 11 | TORONTO DOMINION BANK | 622,212622,212 | $9M | — | TRIM -13% |
| 12 | DG Capital Management, LLC | 575,537575,537 | $8M | — | NEW |
| 13 | Sumitomo Mitsui Trust Group, Inc. | 558,113558,113 | $8M | — | — |
| 14 | WELLS FARGO & COMPANY/MN | 542,796542,796 | $8M | — | ADD 33% |
| 15 | ARES MANAGEMENT LLC | 412,000412,000 | $6M | — | ADD 312% |
| 16 | Trexquant Investment LP | 409,326409,326 | $6M | — | TRIM -9% |
| 17 | TT Capital Management LLC | 332,467332,467 | $5M | — | ADD 10% |
| 18 | Hennion & Walsh Asset Management, Inc. | 287,383287,383 | $4M | — | ADD 11% |
| 19 | MILLENNIUM MANAGEMENT LLC | 276,026276,026 | $4M | — | ADD 3% |
| 20 | HighTower Advisors, LLC | 265,284265,284 | $4M | — | NEW |
| 21 | Americana Partners, LLC | 257,184257,184 | $4M | — | TRIM -53% |
| 22 | Fosun International Ltd | 240,374240,374 | $3M | — | ADD 8% |
| 23 | SFMG, LLC | 208,725208,725 | $3M | — | TRIM -12% |
| 24 | Liberty Mutual Group Asset Management Inc. | 204,770204,770 | $3M | — | TRIM -43% |
| 25 | Activest Wealth Management | 204,723204,723 | $3M | — | ADD 5% |
| 26 | XTX Topco Ltd | 191,913191,913 | $3M | — | ADD 135% |
| 27 | FRANKLIN RESOURCES INC | 186,811186,811 | $3M | — | TRIM -50% |
| 28 | Cullen/Frost Bankers, Inc. | 184,080184,080 | $3M | — | — |
| 29 | NEUBERGER BERMAN GROUP LLC | 162,067162,067 | $2M | — | TRIM -2% |
| 30 | ExodusPoint Capital Management, LP | 160,332160,332 | $2M | — | NEW |
| 31 | Point72 Asset Management, L.P. | 154,421154,421 | $2M | — | TRIM -14% |
| 32 | JANE STREET GROUP, LLC | 151,464151,464 | $2M | — | TRIM -64% |
| 33 | Rockefeller Capital Management L.P. | 151,034151,034 | $2M | — | ADD 44% |
| 34 | Naviter Wealth, LLC | 140,627140,627 | $2M | — | ADD 15% |
| 35 | GraniteShares Advisors LLC | 142,844142,844 | $2M | — | TRIM -10% |
| 36 | BI Asset Management Fondsmaeglerselskab A/S | 133,731133,731 | $2M | — | ADD 3% |
| 37 | Balyasny Asset Management L.P. | 116,753116,753 | $2M | — | ADD 909% |
| 38 | Adams Asset Advisors, LLC | 114,432114,432 | $2M | — | ADD 3% |
| 39 | STATE STREET CORP | 105,464105,464 | $2M | — | NEW |
| 40 | RAYMOND JAMES FINANCIAL INC | 106,424106,424 | $1M | — | TRIM -39% |
| 41 | SHIKIAR ASSET MANAGEMENT INC | 104,600104,600 | $1M | — | TRIM -20% |
| 42 | RENAISSANCE TECHNOLOGIES LLC | 101,429101,429 | $1M | — | TRIM -24% |
| 43 | STIFEL FINANCIAL CORP | 93,11493,114 | $1M | — | — |
| 44 | GOLDMAN SACHS GROUP INC | 88,84788,847 | $1M | — | TRIM -45% |
| 45 | Legacy Capital Wealth Partners, LLC | 86,03386,033 | $1M | — | ADD 12% |
| 46 | CITADEL ADVISORS LLC | 77,07277,072 | $1M | — | TRIM -67% |
| 47 | Steward Partners Investment Advisory, LLC | 75,04875,048 | $1M | — | ADD 10% |
| 48 | LPL Financial LLC | 70,95170,951 | $990,482 | — | TRIM -5% |
| 49 | CONFLUENCE INVESTMENT MANAGEMENT LLC | 67,32167,321 | $939,801 | — | TRIM -7% |
| 50 | Invesco Ltd. | 65,88265,882 | $919,713 | — | ADD 136% |
| 51 | Lido Advisors, LLC | 59,42359,423 | $836,358 | — | TRIM -7% |
| 52 | DENALI ADVISORS LLC | 57,75757,757 | $806,288 | — | — |
| 53 | ROYAL BANK OF CANADA | 57,08957,089 | $797,000 | — | ADD 21% |
| 54 | Aquatic Capital Management LLC | 55,78055,780 | $778,689 | — | TRIM -28% |
| 55 | Cetera Investment Advisers | 53,78253,782 | $750,797 | — | ADD 34% |
| 56 | TRUIST FINANCIAL CORP | 51,38151,381 | $717,276 | — | ADD 20% |
| 57 | CAPTRUST FINANCIAL ADVISORS | 49,69549,695 | $693,742 | — | — |
| 58 | Focus Partners Wealth | 48,82748,827 | $683,827 | — | ADD 43% |
| 59 | HOURGLASS CAPITAL, LLC | 48,67248,672 | $679,461 | — | NEW |
| 60 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 44,14444,144 | $616,250 | — | TRIM -50% |
| 61 | Closed-End Fund Advisors, Inc. | 42,84142,841 | $598,060 | — | TRIM -85% |
| 62 | AMERIPRISE FINANCIAL INC | 36,97436,974 | $516,157 | — | TRIM -9% |
| 63 | Fiduciary Group, LLC | 36,92436,924 | $515,459 | — | ADD 54% |
| 64 | Dynamic Technology Lab Private Ltd | 36,56436,564 | $510,433 | — | NEW |
| 65 | Squarepoint Ops LLC | 32,60832,608 | $455,208 | — | ADD 9% |
| 66 | Beacon Pointe Advisors, LLC | 32,50032,500 | $453,700 | — | TRIM -31% |
| 67 | COMMONWEALTH EQUITY SERVICES, LLC | 30,55430,554 | $426,530 | — | TRIM -10% |
| 68 | GUGGENHEIM CAPITAL LLC | 30,22930,229 | $421,997 | — | ADD 75% |
| 69 | ENVESTNET ASSET MANAGEMENT INC | 29,23629,236 | $408,135 | — | ADD 6% |
| 70 | Entropy Technologies, LP | 28,73228,732 | $401,099 | — | — |
| 71 | Virtus Investment Advisers, LLC | 28,29228,292 | $394,956 | — | ADD 8% |
| 72 | NORTHERN TRUST CORP | 27,95727,957 | $390,280 | — | — |
| 73 | INFRASTRUCTURE CAPITAL ADVISORS, LLC | 26,00126,001 | $362,974 | — | ADD 160% |
| 74 | TrueMark Investments, LLC | 25,98525,985 | $362,751 | — | ADD 73% |
| 75 | Marex Group plc | 25,00025,000 | $349,000 | — | TRIM -65% |
| 76 | NewGen Asset Management Ltd | 24,30024,300 | $339,228 | — | NEW |
| 77 | Clearstead Advisors, LLC | 24,00024,000 | $335,040 | — | — |
| 78 | NATIONAL BANK OF CANADA /FI/ | 23,76623,766 | $331,749 | — | ADD 23% |
| 79 | OPPENHEIMER & CO INC | 22,84322,843 | $318,888 | — | — |
| 80 | Texas Yale Capital Corp. | 22,67522,675 | $316,543 | — | NEW |
| 81 | JPMORGAN CHASE & CO | 22,35422,354 | $315,415 | — | TRIM -87% |
| 82 | Quantbot Technologies LP | 22,43022,430 | $313,123 | — | TRIM -79% |
| 83 | Global Strategic Investment Solutions, LLC | 21,46021,460 | $299,577 | — | — |
| 84 | Generali Investments CEE, investicni spolecnost, a.s. | 20,72220,722 | $289,279 | — | — |
| 85 | Almitas Capital LLC | 20,00020,000 | $279,200 | — | — |
| 86 | Pathstone Holdings, LLC | 19,20719,207 | $270,404 | — | TRIM -45% |
| 87 | Engineers Gate Manager LP | 18,91518,915 | $264,053 | — | NEW |
| 88 | Icon Wealth Advisors, LLC | 17,41217,412 | $262,744 | — | ADD 3% |
| 89 | EVERPAR ADVISORS LLC | 18,54718,547 | $258,916 | — | — |
| 90 | OBSIDIAN CIO, LLC | 17,74217,742 | $247,677 | — | ADD 3% |
| 91 | DRW Securities, LLC | 17,67917,679 | $246,798 | — | ADD 65% |
| 92 | Sanctuary Advisors, LLC | 17,66917,669 | $246,659 | — | TRIM -5% |
| 93 | REICON WEALTH ADVISORS, LLC | 17,34917,349 | $242,192 | — | ADD 34% |
| 94 | OSAIC HOLDINGS, INC. | 17,14517,145 | $239,340 | — | TRIM -48% |
| 95 | EAGLE GLOBAL ADVISORS LLC | 16,91516,915 | $236,133 | — | NEW |
| 96 | Clear Harbor Asset Management, LLC | 16,44016,440 | $229,502 | — | ADD 18% |
| 97 | COWA, LLC | 15,63615,636 | $218,279 | — | ADD 16% |
| 98 | Cambridge Investment Research Advisors, Inc. | 15,44415,444 | $216,000 | — | NEW |
| 99 | CFO4Life Group, LLC | 14,81314,813 | $206,789 | — | NEW |
| 100 | MERCER GLOBAL ADVISORS INC /ADV | 14,53914,539 | $202,964 | — | TRIM -2% |
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 | 13.2M | 15.4M | 15.6M | 15.9M | 15.9M | 15.9M | $222M |
| Generali Asset Management SPA SGR | — | 882K | 1.8M | 1.8M | 1.8M | 1.8M | $26M |
| UBS Group AG | 161K | 625K | 821K | 964K | 1.7M | 1.6M | $22M |
| VAN ECK ASSOCIATES CORP | 1.9M | 1.9M | 1.9M | 2.0M | 1.8M | 1.4M | $20M |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | — | — | 207K | 989K | 765K | 1.1M | $15M |
| TWO SIGMA INVESTMENTS, LP | — | 239K | 153K | 341K | 845K | 889K | $12M |
| Muzinich & Co., Inc. | 105K | 213K | 456K | 585K | 766K | 768K | $11M |
| Russell Investments Group, Ltd. | — | — | — | — | 242K | 722K | $10M |
| Altshuler Shaham Ltd | — | — | — | — | 650K | 650K | $9M |
| AMERICAN FINANCIAL GROUP INC | — | — | — | — | 532K | 632K | $9M |
| TORONTO DOMINION BANK | — | — | — | 566K | 714K | 622K | $9M |
| DG Capital Management, LLC | — | — | — | — | — | 576K | $8M |
| Sumitomo Mitsui Trust Group, Inc. | 102K | 200K | 371K | 505K | 558K | 558K | $8M |
| WELLS FARGO & COMPANY/MN | 29K | 299K | 314K | 357K | 408K | 543K | $8M |
| ARES MANAGEMENT LLC | — | — | — | — | 100K | 412K | $6M |
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 | 137 | 35,580,982 | — | $497M |
| 2025-Q4 | 133 | 36,295,451 | — | $598M |
| 2025-Q3 | 117 | 31,410,470 | — | $505M |
| 2025-Q2 | 110 | 28,052,805 | — | $525M |
| 2025-Q1 | 97 | 25,720,020 | — | $514M |
| 2024-Q4 | 82 | 20,843,145 | — | $432M |
| 2024-Q3 | 52 | 16,918,243 | — | $334M |
| 2024-Q2 | 18 | 14,112,240 | — | $308M |
| 2024-Q1 | 20 | 14,038,244 |
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 | |
|---|---|---|---|
| DG Capital Management, LLC | +575,537 | $8M | OPEN |
| Russell Investments Group, Ltd. | +479,532 | $7M | ADD |
| ARES MANAGEMENT LLC | +312,000 | $4M | ADD |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | +287,808 | $4M | ADD |
| HighTower Advisors, LLC | +265,284 | $4M | OPEN |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| VAN ECK ASSOCIATES CORP | −406,858 | $6M | TRIM |
| HRT FINANCIAL LP | −394,241 | $6M | CLOSE |
| Truffle Hound Capital, LLC | −320,000 | $4M | CLOSE |
| Americana Partners, LLC | −294,592 | $4M | TRIM |
| JANE STREET GROUP, LLC | −271,701 | $4M | 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).
| — |
| $303M |
