% of shares outstanding is not shown for XEMD: 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 XEMD 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 |
|---|---|---|---|---|---|---|---|
| ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORP | 1.2M | 2.5M | 3.5M | 3.9M | 7.9M | 9.5M | $419M |
| Municipal Employees' Retirement System of Michigan | 4.7M | 4.7M | 4.7M | 4.7M | 4.7M | 4.7M | $207M |
| BANK OF AMERICA CORP /DE/ | 42K | 45K | 30K | 50K | 255K | 1.2M | $54M |
| ENVESTNET ASSET MANAGEMENT INC | — | — | — | 25K | 245K | 551K | $24M |
| Kestra Investment Management, LLC | — | — | — | — | — | 505K | $22M |
| ASSETMARK, INC | — | — | — | — | 439K | 435K | $19M |
| Sound Income Strategies, LLC | — | 140K | 257K | 283K | 317K | 330K | $14M |
| DORVAL Corp | — | — | 52K | 124K | 192K | 316K | $14M |
| FLPUTNAM INVESTMENT MANAGEMENT CO | — | — | — | — | — | 297K | $13M |
| Cetera Investment Advisers | — | — | — | — | 169K | 173K | $8M |
| Strait & Sound Wealth Management LLC | 27K | 48K | 54K | 58K | 62K | 70K | $3M |
| Orion Porfolio Solutions, LLC | — | 44K | 49K | 55K | 63K | 68K | $3M |
| Focus Partners Wealth | 100K | 48K | 49K | 50K | 59K | 65K | $3M |
| KICKSTAND VENTURES, LLC. | — | — | — | — | — | 51K | $2M |
| Foundations Investment Advisors, LLC | — | — | — | 9K | 12K | 45K | $2M |
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 | 53 | 18,753,027 | — | $824M |
| 2025-Q4 | 38 | 15,275,422 | — | $681M |
| 2025-Q3 | 27 |
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 | |
|---|---|---|---|
| ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORP | +1,624,611 | $71M | ADD |
| BANK OF AMERICA CORP /DE/ | +966,435 | $42M | ADD |
| Kestra Investment Management, LLC | +504,648 | $22M | OPEN |
| ENVESTNET ASSET MANAGEMENT INC | +305,296 | $13M | ADD |
| FLPUTNAM INVESTMENT MANAGEMENT CO | +297,147 | $13M | OPEN |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| POTOMAC FUND MANAGEMENT INC /ADV | −564,718 | $25M | CLOSE |
| Encompass More Asset Management | −49,450 | $2M | TRIM |
| Independent Wealth Network Inc. | −12,666 | $556,671 | TRIM |
| MORGAN STANLEY | −3,464 | $152,243 | TRIM |
| ASSETMARK, INC | −3,235 | $142,178 | — |
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).
| 9,608,341 |
| — |
| $420M |
| 2025-Q2 | 21 | 8,875,727 | — | $384M |
| 2025-Q1 | 16 | 7,796,910 | — | $329M |
| 2024-Q4 | 16 | 6,530,722 | — | $272M |
| 2024-Q3 | 13 | 5,653,872 | — | $242M |
| 2024-Q2 | 10 | 5,068,470 | — | $208M |
| 2024-Q1 | 9 | 4,642,292 | — | $193M |
| 2023-Q4 | 8 | 4,650,041 | — | $190M |
| 2023-Q3 | 3 | 4,566,457 | — | $177M |
| 2023-Q2 | 4 | 4,561,043 | — | $182M |
| 2023-Q1 | 3 | 4,551,567 | — | $181M |
| 2022-Q4 | 3 | 4,437,058 | — | $175M |
| 2022-Q3 | 2 | 4,449,229 | — | $168M |
| 2022-Q2 | 1 | 46,377 | — | $2M |
