Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.
Recent SEC filings are still being reconciled. Holder totals and changes may be incomplete until processing catches up.
Holders:14
Total Value:$45,038,176
Total Shares:1,797,214
Institutional Ownership Trend
2 quarters
Holder Concentration
Across 14 13F filers
· Δ vs Jun 30, 2026
Top Holder
67.0%
+10.7 pts
Top 5
96.5%
+1.8 pts
Top 10
99.9%
−0.1 pts
HHI
4,820
Highly concentrated+1,231
Who Holds QNDX
Last 2 quarters through Sep 30, 2026 (filing window open)
Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory
records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book.
The quarter selector does not change this card.
Jun 30, 2026, the newest closed quarter:
8 filers,
like-for-like change —.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
70.1%
3
new
3
0
Broker-dealer
14.2%
2
new
2
0
Unknown
15.7%
3
new
3
0
Style
Share
Filers
Change
New
Exited
Systematic-like
7.2%
2
new
2
0
Concentrated
24.6%
2
new
2
0
Diversified active
68.2%
4
new
4
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
17.1%
2
new
2
0
Medium turnover
58.2%
2
new
2
0
High turnover
24.8%
4
new
4
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
14.1%
1
new
1
0
Medium horizon
10.4%
1
new
1
0
Long horizon
75.4%
5
new
5
0
Unknown
0.1%
1
new
1
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
73.4%
3
new
3
0
$1B to $10B
14.2%
2
new
2
0
$10B to $100B
0.0%
0
—
0
0
$100B or more
12.5%
3
new
3
0
Client base
Share
Filers
Change
New
Exited
Individuals and high net worth
62.9%
2
new
2
0
Pooled investment vehicles
7.2%
1
new
1
0
Registered funds and BDCs
0.0%
0
—
0
0
Other investment advisers
0.0%
0
—
0
0
Diversified
0.0%
0
—
0
0
Unknown
29.9%
5
new
5
0
Private funds
Share
Filers
Change
New
Exited
Hedge funds
63.5%
2
new
2
0
Mixed private funds
0.0%
0
—
0
0
No private funds
6.6%
1
new
1
0
Unknown
29.9%
5
new
5
0
Location
Share
Filers
Change
New
Exited
United States
100.0%
8
new
8
0
Outside the US
0.0%
0
—
0
0
The Sep 30, 2026 filing window is still open, so its
bar shows only the filers that have filed so far.
How the mix is measured
Shares are 13F common shares restated to today's split basis; options and principal amounts are left out.
The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later
quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type
comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster
current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and
book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none
was. Actively managed books are those measured systematic-like, concentrated or diversified active.
Conviction and Crowding
8 13F filers, quarter ended Jun 30, 2026
Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts
filers with high turnover or that advise private funds on Form ADV.
Conviction holders
4
50.0% of filers hold it in their top 10
Holders above 5%
0
median weight 0.068%
Crowding
—
shares outstanding is an issuer-wide count, not one listing's
Private-fund advisers
—
of shares outstanding
Institutional ownership
—
shares outstanding is an issuer-wide count, not one listing's
Top 10 holders
100.0%
of 13F shares, Herfindahl 0.359
Active holders
—
like-for-like share change of active filers
5% stakes on record
0
0 13D, 0 13G
How long holders have held itvalue-weighted 1.0 quarters
Under 1 year 100.0%1 to 3 years 0.000%3 years or more 0.000%Since coverage start 0.000%
Managers in the top fifth by current three-year FundScore alpha were net
buyers of $0
(0 buying, 0 selling).
Quarterly Activity
vs Jun 30, 2026
New
13
Increased
1
Decreased
0
Sold Out
0
Unchanged
0
New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.
