% of shares outstanding is not shown for QDVO: 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 QDVO 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 | RAYMOND JAMES FINANCIAL INC | 1,934,1991.9M | $52M | — | ADD 62% |
| 2 | Merit Financial Group, LLC | 687,572687,572 | $18M | — | ADD 10% |
| 3 | ROYAL BANK OF CANADA | 365,086365,086 | $10M | — | ADD 15% |
| 4 | LPL Financial LLC | 279,570279,570 | $7M | — | ADD 15% |
| 5 | Visionary Wealth Advisors | 169,965169,965 | $5M | — | ADD 50% |
| 6 | OSAIC HOLDINGS, INC. | 100,132100,132 | $3M | — | ADD 44% |
| 7 | SAGESPRING WEALTH PARTNERS, LLC | 88,85088,850 | $2M | — | NEW |
| 8 | Steward Partners Investment Advisory, LLC | 75,76075,760 | $2M | — | ADD 16% |
| 9 | Cassady Wealth & Retirement Planning, LLC | 46,94146,941 | $1M | — | ADD 77% |
| 10 | Sigma Planning Corp | 46,81746,817 | $1M | — | ADD 3% |
| 11 | Janney Montgomery Scott LLC | 38,92738,927 | $1M | — | ADD 148% |
| 12 | Stratos Wealth Partners, LTD. | 35,67235,672 | $950,681 | — | ADD 4% |
| 13 | BANK OF MONTREAL /CAN/ | 35,43635,436 | $944,369 | — | TRIM -3% |
| 14 | STIFEL FINANCIAL CORP | 29,54629,546 | $787,486 | — | NEW |
| 15 | CITADEL ADVISORS LLC | 29,04329,043 | $773,996 | — | TRIM -70% |
| 16 | Tactive Advisors, LLC | 25,74925,749 | $686,211 | — | NEW |
| 17 | Claris Financial LLC | 25,25925,259 | $673,152 | — | TRIM -18% |
| 18 | GREAT VALLEY ADVISOR GROUP, INC. | 22,54922,549 | $600,931 | — | ADD 198% |
| 19 | Souders Financial Advisors | 17,29917,299 | $461,026 | — | ADD 18% |
| 20 | CAP Partners, LLC | 16,69116,691 | $444,821 | — | ADD 45% |
| 21 | Latitude Advisors, LLC | 14,10214,102 | $375,826 | — | ADD 26% |
| 22 | HRT FINANCIAL LP | 13,54513,545 | $360,000 | — | NEW |
| 23 | PFG Investments, LLC | 11,84711,847 | $315,716 | — | — |
| 24 | Capital Wealth Planning, LLC | 11,69511,695 | $311,680 | — | TRIM -16% |
| 25 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 11,22511,225 | $299,146 | — | NEW |
| 26 | Clear Trail Advisors, LLC | 10,88910,889 | $290,197 | — | — |
| 27 | Onyx Bridge Wealth Group LLC | 10,17310,173 | $271,110 | — | TRIM -16% |
| 28 | UBS Group AG | 9,8359,835 | $262,103 | — | ADD 70% |
| 29 | Private Advisor Group, LLC | 9,7709,770 | $260,374 | — | NEW |
| 30 | Ascentis Independent Advisors | 9,6099,609 | $256,071 | — | NEW |
| 31 | BROWN ADVISORY INC | 9,1089,108 | $242,728 | — | — |
| 32 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 8,6578,657 | $233,402 | — | ADD 9% |
| 33 | Keating Financial Advisory Services, Inc. | 7,9207,920 | $211,068 | — | — |
| 34 | Blue Trust, Inc. | 4,0864,086 | $108,892 | — | NEW |
| 35 | MTM Investment Management, LLC | 1,7001,700 | $45,305 | — | NEW |
| 36 | CWM, LLC | 1,4271,427 | $38,018 | — | ADD 25% |
| 37 | PIN OAK INVESTMENT ADVISORS INC | 792792 | $21,000 | — | — |
| 38 | CoreCap Advisors, LLC | 643643 | $17,154 | — | ADD 3% |
| 39 | IFP Advisors, Inc | 296296 | $7,888 | — | ADD 640% |
| 40 | SIMPLEX TRADING, LLC | 157157 | $4,184 | — | NEW |
| 41 | Western Wealth Management, LLC | 9797 | $2,585 | — | NEW |
| 42 | MORGAN STANLEY | 22 | $61 | — | TRIM -33% |
| 43 | WELLS FARGO & COMPANY/MN | 22 | $44 | — | — |
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 |
|---|---|---|---|---|---|---|---|
| RAYMOND JAMES FINANCIAL INC | — | — | 70K | 644K | 1.2M | 1.9M | $52M |
| Merit Financial Group, LLC | — | — | — | 603K | 623K | 688K | $18M |
| ROYAL BANK OF CANADA | — | — | — | 265K | 318K | 365K | $10M |
| LPL Financial LLC | — | — | 70K | 208K | 244K | 280K | $7M |
| Visionary Wealth Advisors | 38K | 60K | 82K | 98K | 113K | 170K | $5M |
| OSAIC HOLDINGS, INC. | — | — | — | — | 69K | 100K | $3M |
| SAGESPRING WEALTH PARTNERS, LLC | — | — | — | — | — | 89K | $2M |
| Steward Partners Investment Advisory, LLC | — | — | 3K | 40K | 66K | 76K | $2M |
| Cassady Wealth & Retirement Planning, LLC | — | — | — | — | 27K | 47K | $1M |
| Sigma Planning Corp | — | — | — | — | 45K | 47K | $1M |
| Janney Montgomery Scott LLC | — | — | 8K | 12K | 16K | 39K | $1M |
| Stratos Wealth Partners, LTD. | — | — | — | — | 34K | 36K | $950,681 |
| BANK OF MONTREAL /CAN/ | — | — | 34K | 37K | 37K | 35K | $944,369 |
| STIFEL FINANCIAL CORP | — | — | — | — | — | 30K | $787,486 |
| CITADEL ADVISORS LLC | 10K | 17K | — | 29K | 98K | 29K | $773,996 |
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 | 43 | 4,218,640 | — | $113M |
| 2025-Q4 | 44 | 3,136,372 | — | $91M |
| 2025-Q3 | 28 | 2,178,305 | — | $63M |
| 2025-Q2 | 13 | 303,524 | — | $8M |
| 2025-Q1 | 6 | 102,664 | — | $3M |
| 2024-Q4 | 7 | 76,314 | — | $2M |
| 2024-Q3 | 4 | 95,348 | — | $2M |
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 | +739,963 | $20M | ADD |
| SAGESPRING WEALTH PARTNERS, LLC | +88,850 | $2M | OPEN |
| Merit Financial Group, LLC | +64,718 | $2M | ADD |
| Visionary Wealth Advisors | +56,922 | $2M | ADD |
| ROYAL BANK OF CANADA | +47,520 | $1M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| CITADEL ADVISORS LLC | −69,235 | $2M | TRIM |
| MERCER GLOBAL ADVISORS INC /ADV | −15,000 | $399,750 | CLOSE |
| NewEdge Advisors, LLC | −13,604 | $362,547 | CLOSE |
| ENVESTNET ASSET MANAGEMENT INC | −12,910 | $344,052 | CLOSE |
| Equitable Holdings, Inc. | −10,187 | $271,484 | 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).
