% of shares outstanding is not shown for UBND: 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 UBND 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 | VICTORY CAPITAL MANAGEMENT INC | 22,967,67223.0M | $500M | — | ADD 13% |
| 2 | Annex Advisory Services, LLC | 17,683,09117.7M | $385M | — | ADD 4% |
| 3 | CAHABA WEALTH MANAGEMENT, INC. | 8,179,1768.2M | $178M | — | ADD 4% |
| 4 | Retirement Planning Group, LLC | 7,358,5577.4M | $160M | — | ADD 13% |
| 5 | Merit Financial Group, LLC | 6,387,0756.4M | $139M | — | ADD 10% |
| 6 | 1900 WEALTH MANAGEMENT LLC | 4,379,4804.4M | $95M | — | ADD 2% |
| 7 | OSAIC HOLDINGS, INC. | 2,053,6822.1M | $45M | — | ADD 5% |
| 8 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 1,760,3111.8M | $38M | — | NEW |
| 9 | Goldstein Advisors, LLC | 1,693,0511.7M | $37M | — | ADD 20% |
| 10 | Madison Wealth Partners, Inc | 1,603,7581.6M | $35M | — | ADD 328% |
| 11 | TRUIST FINANCIAL CORP | 1,537,6571.5M | $34M | — | NEW |
| 12 | Corient Private Wealth LLC | 1,208,3951.2M | $26M | — | TRIM -36% |
| 13 | CORRECT CAPITAL WEALTH MANAGEMENT | 1,164,8351.2M | $25M | — | ADD 2% |
| 14 | U.S. Capital Wealth Advisors, LLC | 467,972467,972 | $10M | — | ADD 77% |
| 15 | Elk River Wealth Management LLC | 361,138361,138 | $8M | — | TRIM -7% |
| 16 | Huntleigh Advisors, Inc. | 353,636353,636 | $8M | — | ADD 6% |
| 17 | Impact Investors, Inc | 258,046258,046 | $6M | — | ADD 8% |
| 18 | OneDigital Investment Advisors LLC | 176,129176,129 | $4M | — | ADD 3% |
| 19 | JANE STREET GROUP, LLC | 151,685151,685 | $3M | — | ADD 28% |
| 20 | LPL Financial LLC | 151,315151,315 | $3M | — | NEW |
| 21 | Tandem Financial, LLC | 83,73283,732 | $2M | — | NEW |
| 22 | RAYMOND JAMES FINANCIAL INC | 68,25168,251 | $1M | — | ADD 44% |
| 23 | CITADEL ADVISORS LLC | 44,45444,454 | $968,208 | — | ADD 183% |
| 24 | Trademark Financial Management, LLC | 38,63538,635 | $841,470 | — | NEW |
| 25 | LexAurum Advisors, LLC | 26,62326,623 | $579,843 | — | NEW |
| 26 | Stonebridge Financial Group, LLC / MO | 24,16524,165 | $526,306 | — | ADD 53% |
| 27 | CWM, LLC | 23,77923,779 | $517,907 | — | — |
| 28 | OneAscent Financial Services LLC | 22,66722,667 | $493,677 | — | NEW |
| 29 | ENVESTNET ASSET MANAGEMENT INC | 21,23621,236 | $462,520 | — | ADD 9% |
| 30 | FLOW TRADERS U.S. LLC | 16,47816,478 | $359,000 | — | NEW |
| 31 | Clarity Asset Management, Inc. | 15,29715,297 | $333,169 | — | NEW |
| 32 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 14,07914,079 | $306,641 | — | NEW |
| 33 | Vise Technologies, Inc. | 13,00413,004 | $286,088 | — | — |
| 34 | Kestra Advisory Services, LLC | 9,5009,500 | $206,910 | — | TRIM -6% |
| 35 | WELLS FARGO & COMPANY/MN | 9,4699,469 | $206,235 | — | NEW |
| 36 | Steward Partners Investment Advisory, LLC | 8,8848,884 | $193,494 | — | TRIM -2% |
| 37 | Comprehensive Financial Planning, Inc./PA | 5,9405,940 | $129,387 | — | ADD 423% |
| 38 | Park Place Capital Corp | 4,2324,232 | $92,170 | — | — |
| 39 | FIFTH THIRD BANCORP | 3,5553,555 | $77,420 | — | NEW |
| 40 | Johnson Financial Group, Inc. | 2,5012,501 | $54,472 | — | NEW |
| 41 | JPMORGAN CHASE & CO | 1,9411,941 | $42,081 | — | NEW |
| 42 | ASSETMARK, INC | 654654 | $14,244 | — | TRIM -76% |
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 |
|---|---|---|---|---|---|---|---|
| VICTORY CAPITAL MANAGEMENT INC | 10.5M | 10.5M | 15.2M | 15.6M | 20.4M | 23.0M | $500M |
| Annex Advisory Services, LLC | 2.9M | 3.9M | 16.7M | 16.5M | 17.0M | 17.7M | $385M |
| CAHABA WEALTH MANAGEMENT, INC. | — | — | 24K | 7.6M | 7.9M | 8.2M | $178M |
| Retirement Planning Group, LLC | 3.7M | 5.0M | 5.3M | 6.0M | 6.5M | 7.4M | $160M |
| Merit Financial Group, LLC | — | — | — | 5.5M | 5.8M | 6.4M | $139M |
| 1900 WEALTH MANAGEMENT LLC | 3.4M | 4.1M | 4.1M | 4.2M | 4.3M | 4.4M | $95M |
| OSAIC HOLDINGS, INC. | 259K | 286K | 301K | 299K | 2.0M | 2.1M | $45M |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | — | — | — | — | — | 1.8M | $38M |
| Goldstein Advisors, LLC | 1.3M | 1.5M | 1.4M | 1.5M | 1.4M | 1.7M | $37M |
| Madison Wealth Partners, Inc | 148K | 165K | 160K | 226K | 374K | 1.6M | $35M |
| TRUIST FINANCIAL CORP | — | — | — | — | — | 1.5M | $34M |
| Corient Private Wealth LLC | 219K | 312K | 418K | 599K | 1.9M | 1.2M | $26M |
| CORRECT CAPITAL WEALTH MANAGEMENT | 552K | 772K | 780K | 870K | 1.1M | 1.2M | $25M |
| U.S. Capital Wealth Advisors, LLC | — | — | — | 77K | 265K | 468K | $10M |
| Elk River Wealth Management LLC | 323K | 331K | 325K | 352K | 387K | 361K | $8M |
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 | 42 | 80,355,737 |
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 | |
|---|---|---|---|
| VICTORY CAPITAL MANAGEMENT INC | +2,608,764 | $57M | ADD |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | +1,760,311 | $38M | OPEN |
| TRUIST FINANCIAL CORP | +1,537,657 | $33M | OPEN |
| Madison Wealth Partners, Inc | +1,229,384 | $27M | ADD |
| Retirement Planning Group, LLC | +853,671 | $19M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Corient Private Wealth LLC | −668,283 | $15M | TRIM |
| Integrated Investment Consultants, LLC | −39,596 | $862,401 | CLOSE |
| Elk River Wealth Management LLC | −25,758 | $561,009 | TRIM |
| COMERICA BANK | −3,555 | $77,428 | CLOSE |
| ASSETMARK, INC | −2,120 | $46,174 | 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).
| — |
| $1.8B |
| 2025-Q4 | 33 | 70,304,510 | — | $1.5B |
| 2025-Q3 | 31 | 61,099,189 | — | $1.3B |
| 2025-Q2 | 24 | 45,287,372 | — | $990M |
| 2025-Q1 | 23 | 27,533,690 | — | $600M |
| 2024-Q4 | 20 | 23,935,904 | — | $512M |
| 2024-Q3 | 17 | 18,925,237 | — | $421M |
| 2024-Q2 | 18 | 15,942,088 | — | $341M |
| 2024-Q1 | 13 | 14,380,301 | — | $310M |
| 2023-Q4 | 13 | 11,947,991 | — | $259M |
| 2023-Q3 | 7 | 10,118,949 | — | $210M |
| 2023-Q2 | 4 | 9,972,245 | — | $214M |
| 2023-Q1 | 4 | 9,970,774 | — | $217M |
| 2022-Q4 | 2 | 9,942,881 | — | $210M |
| 2022-Q3 | 2 | 9,942,881 | — | $208M |
| 2022-Q2 | 2 | 9,790,156 | — | $215M |
| 2022-Q1 | 2 | 9,724,448 | — | $220M |
| 2021-Q4 | 2 | 7,824,962 | — | $195M |
