% of shares outstanding is not shown for TWM: 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 TWM 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 | Trek Financial, LLC | 329,558329,558 | $10M | — | NEW |
| 2 | Hillsdale Investment Management Inc. | 79,30279,302 | $2M | — | ADD 18% |
| 3 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 57,27657,276 | $2M | — | ADD 462% |
| 4 | GTS SECURITIES LLC | 40,57840,578 | $1M | — | NEW |
| 5 | IMC-Chicago, LLC | 31,82231,822 | $985,527 | — | TRIM -15% |
| 6 | Tower Research Capital LLC (TRC) | 27,63527,635 | $855,856 | — | TRIM -28% |
| 7 | JANE STREET GROUP, LLC | 23,39823,398 | $724,637 | — | ADD 13% |
| 8 | Cambridge Investment Research Advisors, Inc. | 19,19519,195 | $594,000 | — | NEW |
| 9 | TWO SIGMA SECURITIES, LLC | 11,26811,268 | $348,970 | — | NEW |
| 10 | Squarepoint Ops LLC | 7,5207,520 | $232,894 | — | NEW |
| 11 | FLOW TRADERS U.S. LLC | 7,1097,109 | $220,000 | — | TRIM -43% |
| 12 | Qube Research & Technologies Ltd | 761761 | $23,568 | — | ADD 4% |
| 13 | GROUP ONE TRADING LLC | 600600 | $18,582 | — | NEW |
| 14 | Sterling Capital Management LLC | 8989 | $2,756 | — | — |
| 15 | AE Wealth Management LLC | 6262 | $1,920 | — | TRIM -16% |
| 16 | BNP PARIBAS FINANCIAL MARKETS | 1515 | $465 | — | NEW |
| 17 | MORGAN STANLEY | 22 | $68 | — | ADD 100% |
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 |
|---|---|---|---|---|---|---|---|
| Trek Financial, LLC | — | — | — | — | — | 330K | $10M |
| Hillsdale Investment Management Inc. | 37K | 30K | 38K | 67K | 67K | 79K | $2M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 11K | 31K | 25K | 14K | 10K | 57K | $2M |
| GTS SECURITIES LLC | 21K | 27K | 25K | 29K | — | 41K | $1M |
| IMC-Chicago, LLC | 33K | 36K | 12K | — | 38K | 32K | $985,527 |
| Tower Research Capital LLC (TRC) | 29K | 37K | 25K | 7 | 39K | 28K | $855,856 |
| JANE STREET GROUP, LLC | — | 12K | — | — | 21K | 23K | $724,637 |
| Cambridge Investment Research Advisors, Inc. | — | — | — | — | — | 19K | $594,000 |
| TWO SIGMA SECURITIES, LLC | — | — | — | — | — | 11K | $348,970 |
| Squarepoint Ops LLC | — | — | — | — | — | 8K | $232,894 |
| FLOW TRADERS U.S. LLC | 13K | 6K | 7K | — | 12K | 7K | $220,000 |
| Qube Research & Technologies Ltd | — | — | 448 | 902 | 734 | 761 | $23,568 |
| GROUP ONE TRADING LLC | 60 | 60 | 60 | 60 | — | 600 | $18,582 |
| Sterling Capital Management LLC | 112 | 112 | 89 | 89 | 89 | 89 | $2,756 |
| AE Wealth Management LLC | — | — | — | — | 74 | 62 | $1,920 |
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 | 17 | 636,190 | — | $20M |
| 2025-Q4 | 11 | 198,293 | — | $6M |
| 2025-Q3 | 10 | 128,411 | — | $4M |
| 2025-Q2 | 12 | 132,744 | — | $6M |
| 2025-Q1 | 20 | 263,590 | — | $14M |
| 2024-Q4 | 17 | 185,207 | — | $8M |
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 | |
|---|---|---|---|
| Trek Financial, LLC | +329,558 | $10M | OPEN |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | +47,087 | $1M | ADD |
| GTS SECURITIES LLC | +40,578 | $1M | OPEN |
| Cambridge Investment Research Advisors, Inc. | +19,195 | $594,469 | OPEN |
| Hillsdale Investment Management Inc. | +12,260 | $379,692 | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Prosperity Wealth Management, Inc. | −10,971 | $339,772 | CLOSE |
| Tower Research Capital LLC (TRC) | −10,868 | $336,582 | TRIM |
| IMC-Chicago, LLC | −5,709 | $176,808 | TRIM |
| FLOW TRADERS U.S. LLC | −5,300 | $164,141 | TRIM |
| AE Wealth Management LLC | −12 | $372 | 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).
