Substantial doubt about the company's ability to continue as a going concern.
“These conditions raise substantial doubt about our ability to continue as a going concern. ... Therefore, there is substantial doubt about our ability to continue as a going concern within one year after the date that the unaudited condensed consolidated financial statements are issued.”
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.
Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.
The Sep 30, 2026 filing window is
still open — showing the latest known positions. Funds that have not filed yet
carry their prior-quarter positions; a fund that filed without this stock counts
as sold out. Each fund's Change is measured against its own
previous reported quarter, shown in the Reported column. Pick a
completed quarter in the Quarter selector below to put every
fund on one quarter and see the stock-wide activity breakdown.
Holders:51
Total Value:$4,621,297
Total Shares:10,486,290
Institutional Ownership Trend
6 quarters
Holder Concentration
Across 53 13F filers
Top Holder
42.8%
of institutional value
Top 5
67.8%
of institutional value
Top 10
83.5%
of institutional value
HHI
2,058
Moderately concentrated
Who Holds SAFX
Last 6 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:
53 filers,
like-for-like change -18.3%; actively managed books -27.2%; index-like books -13.9%.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
57.8%
24
+30.1%
8
9
Exempt adviser
0.1%
1
new
1
0
Bank
15.8%
9
-47.5%
0
1
Broker-dealer
3.4%
1
new
1
0
Holding company
10.9%
5
-57.2%
0
0
Non-US
0.0%
0
-100.0%
0
1
Unknown
12.0%
13
-41.6%
5
8
Style
Share
Filers
Change
New
Exited
Index-like
70.2%
11
-13.9%
3
6
Systematic-like
2.8%
7
+700.3%
6
0
Concentrated
2.5%
4
-41.2%
0
1
Diversified active
24.5%
31
-32.5%
6
12
Not measured
0.0%
0
—
0
0
Unknown
0.0%
0
—
0
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
35.2%
27
-50.4%
7
15
Medium turnover
11.1%
13
-38.1%
2
3
High turnover
7.8%
9
-11.6%
6
0
Unknown
46.0%
4
+85.3%
0
1
Not measured
0.0%
0
—
0
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
46.4%
6
+86.8%
2
1
Medium horizon
6.2%
8
-77.3%
2
5
Long horizon
45.2%
35
-35.7%
7
13
Unknown
2.3%
4
new
4
0
Not measured
0.0%
0
—
0
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
3.1%
7
+9.3%
1
1
$1B to $10B
3.7%
12
-4.9%
6
5
$10B to $100B
2.8%
8
+47.5%
4
4
$100B or more
90.4%
26
-20.6%
4
9
Not measured
0.0%
0
—
0
0
Client base
Share
Filers
Change
New
Exited
Individuals and high net worth
5.5%
15
+13.4%
2
1
Pooled investment vehicles
1.6%
3
new
3
0
Registered funds and BDCs
50.0%
3
+28.7%
1
4
Other investment advisers
0.5%
2
new
2
0
Diversified
0.1%
1
-49.6%
0
2
Insurance companies
0.0%
0
-100.0%
0
1
Governments and sovereign funds
0.0%
0
-100.0%
0
1
Unknown
42.2%
29
-45.9%
7
10
Private funds
Share
Filers
Change
New
Exited
Hedge funds
1.9%
5
+1184.9%
4
0
Private equity funds
0.4%
2
+36.5%
1
0
Venture capital funds
0.0%
1
0.0%
0
0
Real estate funds
0.0%
2
+53.8%
0
0
Other private funds
0.4%
1
-39.6%
1
3
No private funds
55.2%
14
+33.1%
3
5
Private funds, type not stated
0.0%
0
-100.0%
0
1
Unknown
42.1%
28
-46.0%
6
10
Location
Share
Filers
Change
New
Exited
United States
90.5%
47
-15.0%
12
16
Outside the US
9.5%
6
-40.4%
3
3
The Sep 30, 2026 filing window is still open, so its
bar carries the Jun 30, 2026 positions of filers that have not filed yet.
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.
Excluded 1 holder with no observed 2026-06-30 13F.
Fund Ownership of SAFX by Fund Type
Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026
Index funds and index ETFs hold 1.63% of shares outstanding.
Fund type
Of shares outstanding
Change
Shares
Funds
Index funds
0.50%
+0.21 pp
2,067,577
13
Index ETFs
1.12%
+0.67 pp
4,608,904
11
Active ETFs
0.00%
-0.05 pp
0
0
Active funds
0.00%
-0.02 pp
19,669
5
Unclassified
0.00%
0.00 pp
0
0
All registered funds
1.63%
+0.82 pp
6,696,150
29
How fund types are measured
Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share
positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or
before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have
no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their
advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.
