% of shares outstanding is not shown for PFRL: 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 PFRL 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 | PRUDENTIAL FINANCIAL INC | 685,097685,097 | $33M | — | ADD 17% |
| 2 | RAYMOND JAMES FINANCIAL INC | 350,225350,225 | $17M | — | ADD 5% |
| 3 | MOODY NATIONAL BANK TRUST DIVISION | 138,484138,484 | $7M | — | ADD 7% |
| 4 | OSAIC HOLDINGS, INC. | 76,80876,808 | $4M | — | ADD 4277% |
| 5 | KESTRA PRIVATE WEALTH SERVICES, LLC | 43,36343,363 | $2M | — | TRIM -45% |
| 6 | Inspire Advisors, LLC | 37,32037,320 | $2M | — | ADD 318% |
| 7 | Mariner, LLC | 36,61036,610 | $2M | — | — |
| 8 | Cetera Investment Advisers | 26,41426,414 | $1M | — | TRIM -7% |
| 9 | Wealthcare Advisory Partners LLC | 22,20822,208 | $1M | — | TRIM -15% |
| 10 | Kestra Advisory Services, LLC | 21,05121,051 | $1M | — | ADD 214% |
| 11 | SHEETS SMITH WEALTH MANAGEMENT | 18,99618,996 | $925,219 | — | TRIM -3% |
| 12 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 18,10518,105 | $884,520 | — | TRIM -61% |
| 13 | JANE STREET GROUP, LLC | 9,9279,927 | $483,504 | — | NEW |
| 14 | Secure Asset Management, LLC | 8,9378,937 | $435,286 | — | TRIM -3% |
| 15 | Summit Financial, LLC | 8,8578,857 | $433,643 | — | ADD 22% |
| 16 | MML INVESTORS SERVICES, LLC | 6,8046,804 | $331,386 | — | TRIM -30% |
| 17 | Tactive Advisors, LLC | 6,6216,621 | $322,467 | — | TRIM -2% |
| 18 | ENVESTNET ASSET MANAGEMENT INC | 5,7195,719 | $278,550 | — | ADD 5% |
| 19 | CoreCap Advisors, LLC | 1,0801,080 | $52,602 | — | — |
| 20 | STANCE CAPITAL LLC | 882882 | $42,959 | — | NEW |
| 21 | ROYAL BANK OF CANADA | 818818 | $40,000 | — | ADD 13533% |
| 22 | Colonial Trust Advisors | 448448 | $21,820 | — | ADD 34% |
| 23 | MORGAN STANLEY | 151151 | $7,364 | — | TRIM -41% |
| 24 | Triumph Capital Management | 150150 | $7,306 | — | — |
| 25 | PNC FINANCIAL SERVICES GROUP, INC. | 139139 | $6,770 | — | TRIM -56% |
| 26 | Strategic Wealth Partners, Ltd. | 100100 | $4,871 | — | NEW |
| 27 | UBS Group AG | 8585 | $4,140 | — | NEW |
| 28 | WELLS FARGO & COMPANY/MN | 00 | $24 | — | EXIT |
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 |
|---|---|---|---|---|---|---|---|
| PRUDENTIAL FINANCIAL INC | 584K | 584K | 584K | 584K | 585K | 685K | $33M |
| RAYMOND JAMES FINANCIAL INC | — | — | — | — | 333K | 350K | $17M |
| MOODY NATIONAL BANK TRUST DIVISION | 110K | 123K | 125K | 126K | 130K | 138K | $7M |
| OSAIC HOLDINGS, INC. | 1K | 3K | 2K | 3K | 2K | 77K | $4M |
| KESTRA PRIVATE WEALTH SERVICES, LLC | — | — | — | 71K | 79K | 43K | $2M |
| Inspire Advisors, LLC | — | 8K | 7K | 7K | 9K | 37K | $2M |
| Mariner, LLC | 14K | 14K | 14K | 17K | 36K | 37K | $2M |
| Cetera Investment Advisers | — | — | — | — | 28K | 26K | $1M |
| Wealthcare Advisory Partners LLC | — | — | — | — | 26K | 22K | $1M |
| Kestra Advisory Services, LLC | — | — | — | 6K | 7K | 21K | $1M |
| SHEETS SMITH WEALTH MANAGEMENT | — | 19K | 18K | 19K | 20K | 19K | $925,219 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 149K | 122K | 107K | 52K | 47K | 18K | $884,520 |
| JANE STREET GROUP, LLC | 4K | 50K | 45K | 12K | — | 10K | $483,504 |
| Secure Asset Management, LLC | 8K | 9K | 9K | 9K | 9K | 9K | $435,286 |
| Summit Financial, LLC | — | — | — | — | 7K | 9K | $433,643 |
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 | 28 | 1,525,399 | — | $74M |
| 2025-Q4 | 29 | 1,996,946 | — | $71M |
| 2025-Q3 | 31 |
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 | |
|---|---|---|---|
| PRUDENTIAL FINANCIAL INC | +100,000 | $5M | ADD |
| OSAIC HOLDINGS, INC. | +75,053 | $4M | ADD |
| Inspire Advisors, LLC | +28,389 | $1M | ADD |
| RAYMOND JAMES FINANCIAL INC | +16,756 | $816,118 | ADD |
| Kestra Advisory Services, LLC | +14,345 | $698,688 | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Arete Wealth Advisors, LLC | −568,227 | $28M | CLOSE |
| ROVIN CAPITAL /UT/ /ADV | −71,268 | $3M | CLOSE |
| KESTRA PRIVATE WEALTH SERVICES, LLC | −35,391 | $2M | TRIM |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | −28,720 | $1M | TRIM |
| FOUNDERS FINANCIAL SECURITIES LLC | −7,638 | $372,016 | CLOSE |
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).
| 1,750,946 |
| — |
| $59M |
| 2025-Q2 | 28 | 1,740,522 | — | $58M |
| 2025-Q1 | 26 | 1,897,622 | — | $61M |
| 2024-Q4 | 22 | 1,142,146 | — | $57M |
| 2024-Q3 | 20 | 1,010,872 | — | $51M |
| 2024-Q2 | 19 | 965,163 | — | $49M |
| 2024-Q1 | 16 | 789,272 | — | $40M |
| 2023-Q4 | 15 | 779,847 | — | $39M |
| 2023-Q3 | 13 | 801,894 | — | $40M |
| 2023-Q2 | 7 | 589,123 | — | $30M |
| 2023-Q1 | 7 | 518,946 | — | $26M |
| 2022-Q4 | 6 | 518,828 | — | $25M |
| 2022-Q3 | 4 | 503,802 | — | $25M |
| 2022-Q2 | 1 | 499,500 | — | $24M |
