% of shares outstanding is not shown for NCZ: 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 NCZ 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 | — | 3.1M | 3.0M | 2.9M | 2.8M | 2.9M | $39M |
| Advisors Asset Management, Inc. | — | 706K | 797K | 856K | 1.1M | 1.1M | $15M |
| Congress Park Capital LLC | — | — | 553K | 512K | 520K | 536K | $7M |
| Saba Capital Management, L.P. | — | — | — | — | — | 352K | $5M |
| Penserra Capital Management LLC | — | 268K | 276K | 523K | 562K | 338K | $5M |
| LPL Financial LLC | — | 172K | 196K | 224K | 271K | 310K | $4M |
| COHEN & STEERS, INC. | — | 285K | 285K | 285K | 285K | 285K | $4M |
| GUGGENHEIM CAPITAL LLC | — | — | 91K | 121K | 225K | 265K | $4M |
| ENVESTNET ASSET MANAGEMENT INC | — | 107K | 105K | 93K | 91K | 89K | $1M |
| PARK AVENUE SECURITIES LLC | — | — | — | 92K | 90K | 87K | $1M |
| OPPENHEIMER & CO INC | — | 69K | 94K | 105K | 80K | 80K | $1M |
| OSAIC HOLDINGS, INC. | — | 78K | 125K | 121K | 107K | 76K | $1M |
| ROYAL BANK OF CANADA | — | 96K | 189K | 78K | 78K | 75K | $999,000 |
| RAYMOND JAMES FINANCIAL INC | — | 53K | 54K | 59K | 59K | 58K | $780,084 |
| Private Advisor Group, LLC | — | — | 39K | 51K | 53K | 58K | $777,472 |
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 | 57 | 7,287,139 | — | $98M |
| 2025-Q4 | 58 | 7,182,470 | — | $99M |
| 2025-Q3 | 57 | 6,921,867 | — | $95M |
| 2025-Q2 | 59 | 6,765,336 | — | $87M |
| 2025-Q1 | 50 | 5,844,022 | — | $68M |
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 | |
|---|---|---|---|
| Saba Capital Management, L.P. | +351,755 | $5M | OPEN |
| MORGAN STANLEY | +137,714 | $2M | ADD |
| Advisors Asset Management, Inc. | +41,169 | $552,076 | ADD |
| GUGGENHEIM CAPITAL LLC | +40,455 | $542,502 | ADD |
| LPL Financial LLC | +39,640 | $531,572 | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Penserra Capital Management LLC | −223,859 | $3M | TRIM |
| PREVAIL INNOVATIVE WEALTH ADVISORS, LLC | −144,549 | $2M | CLOSE |
| BANK OF AMERICA CORP /DE/ | −86,307 | $1M | TRIM |
| ROBINSON CAPITAL MANAGEMENT, LLC | −35,467 | $475,612 | CLOSE |
| OSAIC HOLDINGS, INC. | −30,631 | $410,762 | 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).
