TCX · Tucows Inc /Pa/ · Holdings
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 Ownership Trend
Holder Concentration
Across 69 13F filersWho Holds TCX
Last 8 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: 68 filers, like-for-like change +2.4%; actively managed books +2.3%; index-like books +2.7%.
| Holder type | Share | Filers | Change |
|---|---|---|---|
| Registered adviser | 50.4% | 32 | +3.0% |
| Exempt adviser | 17.2% | 1 | 0.0% |
| Bank | 4.6% | 11 | +2.5% |
| Benefit plan | 0.0% | 1 | -73.9% |
| Non-US | 0.1% | 2 | -2.6% |
| Holding company | 9.9% | 4 | +10.4% |
| Broker-dealer | 0.0% | 0 | — |
| Adviser | 0.0% | 0 | — |
| Insurer | 0.0% | 0 | — |
| Unknown | 17.7% | 17 | -1.2% |
| Style | Share | Filers | Change |
|---|---|---|---|
| Index-like | 32.6% | 18 | +2.7% |
| Systematic-like | 1.3% | 4 | -3.3% |
| Concentrated | 50.6% | 7 | 0.0% |
| Diversified active | 15.6% | 39 | +12.6% |
| Not measured | 0.0% | 0 | — |
| Unknown | 0.0% | 0 | — |
| Turnover | Share | Filers | Change |
|---|---|---|---|
| Low turnover | 48.6% | 43 | +5.2% |
| Medium turnover | 40.7% | 15 | +1.2% |
| High turnover | 1.3% | 4 | -30.5% |
| Unknown | 9.4% | 6 | -0.2% |
| Not measured | 0.0% | 0 | — |
| Holding horizon | Share | Filers | Change |
|---|---|---|---|
| Short horizon | 9.7% | 6 | -0.2% |
| Medium horizon | 17.8% | 10 | +5.4% |
| Long horizon | 54.3% | 50 | +2.7% |
| Unknown | 18.2% | 2 | +0.1% |
| Not measured | 0.0% | 0 | — |
| 13F book size | Share | Filers | Change |
|---|---|---|---|
| Under $1B | 18.7% | 7 | -0.2% |
| $1B to $10B | 5.2% | 14 | +2.5% |
| $10B to $100B | 45.6% | 13 | +2.1% |
| $100B or more | 30.5% | 34 | +4.6% |
| Not measured | 0.0% | 0 | — |
| Client base | Share | Filers | Change |
|---|---|---|---|
| Individuals and high net worth | 2.3% | 14 | +75.4% |
| Pooled investment vehicles | 36.0% | 5 | -0.8% |
| Registered funds and BDCs | 10.8% | 5 | +2.6% |
| Pension and profit sharing plans | 0.0% | 0 | -100.0% |
| Insurance companies | 0.0% | 1 | 0.0% |
| Governments and sovereign funds | 0.1% | 1 | +7.0% |
| Other investment advisers | 0.0% | 1 | +59.3% |
| Diversified | 1.2% | 5 | +69.0% |
| Unknown | 49.6% | 36 | +1.8% |
| Private funds | Share | Filers | Change |
|---|---|---|---|
| Hedge funds | 21.9% | 7 | +4.9% |
| Private equity funds | 0.0% | 1 | new |
| Venture capital funds | 0.0% | 1 | +500.0% |
| Real estate funds | 0.1% | 2 | +4886.6% |
| Securitized asset funds | 0.0% | 1 | 0.0% |
| Other private funds | 0.4% | 2 | +223.9% |
| Mixed private funds | 0.2% | 1 | +2.5% |
| Private funds, type not stated | 0.0% | 0 | — |
| No private funds | 45.1% | 18 | +0.2% |
| Unknown | 32.4% | 35 | +2.9% |
| Location | Share | Filers | Change |
|---|---|---|---|
| United States | 34.5% | 52 | +6.7% |
| Outside the US | 65.5% | 16 | +0.3% |
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 2 holders with no observed 2026-03-31 13F and 1 holder with no observed 2026-06-30 13F.
Conviction and Crowding
68 13F filers, quarter ended Jun 30, 2026Measured 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.
Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).
Estimated Holder Cost Basis
Quarter ended Jun 30, 2026, on that quarter's share basisEstimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.
Estimated cost covers 51.8% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.
Shareholder Targets
13F filers that own its peers but not TCX, quarter ended Jun 30, 2026Found through its holder-overlap peers: AMAT, MA, V, AMZN, MSFT. 6,767 filers in all.
| # | Filer | In peers | Largest peers |
|---|---|---|---|
| 1 | Invesco Ltd. Adviser, Diversified active | $98,496,241,766 5 held | MSFT, AMZN, AMAT |
| 2 | NORGES BANK Non-US, Index-like | $91,597,933,172 5 held | MSFT, AMZN, AMAT |
| 3 | PRICE T ROWE ASSOCIATES INC /MD/ Registered adviser, Diversified active | $89,332,169,311 5 held | MSFT, AMZN, V |
| 4 | Capital Research Global Investors Adviser, Diversified active | $87,479,657,765 5 held | MSFT, AMZN, AMAT |
| 5 | BANK OF AMERICA CORP /DE/ Bank, Diversified active | $65,239,766,909 5 held | MSFT, AMZN, V |
| 6 | Capital World Investors Adviser, Diversified active | $48,523,429,758 5 held | MSFT, AMZN, V |
| 7 | Capital International Investors Adviser, Diversified active | $45,729,251,292 5 held | MSFT, AMZN, V |
| 8 | Amundi Holding company, Index-like | $42,784,251,705 5 held | MSFT, AMZN, AMAT |
| 9 | WELLINGTON MANAGEMENT GROUP LLP Holding company, Diversified active | $41,554,009,745 5 held | MSFT, AMZN, MA |
| 10 | FRANKLIN RESOURCES INC Adviser, Diversified active | $40,637,923,608 5 held | MSFT, AMZN, V |
Fund Ownership of TCX by Fund Type
Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026Index funds and index ETFs hold 8.86% of shares outstanding.
| Fund type | Of shares outstanding | Shares |
|---|---|---|
| Index funds | 2.28% | 254,691 |
| Index ETFs | 6.59% | 736,433 |
| Active ETFs | 0.06% | 7,161 |
| Active funds | 0.79% | 88,108 |
| Unclassified | 0.00% | 0 |
| All registered funds | 9.72% | 1,086,393 |
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.
| Holder | Value (USD) | % of 13F | Shares | Type | Filed | Open |
|---|---|---|---|---|---|---|
| Large EdgePoint Investment Group Inc. Registered adviser | $28,537,205 | 33.19% | 2,118,575 | Shares | 2026-08-14 | |
| Small Blacksheep Fund Management Ltd Exempt adviser | $14,709,037 | 17.11% | 1,091,985 | Shares | 2026-08-25 | |
| Mega BlackRock, Inc. Holding company | $7,569,463 | 8.80% | 561,950 | Shares | 2026-08-07 | |
| Large Universal- Beteiligungs- und Servicegesellschaft mbH | $7,352,909 | 8.55% | 545,873 | Shares | 2026-08-06 | |
| Mega VANGUARD CAPITAL MANAGEMENT LLC Registered adviser | $4,738,746 | 5.51% | 351,800 | Shares | 2026-08-13 | |
| Mega GEODE CAPITAL MANAGEMENT, LLC Registered adviser | $2,665,658 | 3.10% | 197,896 | Shares | 2026-08-12 | |
| Mega STATE STREET CORP Bank | $2,512,397 | 2.92% | 186,518 | Shares | 2026-09-22 | |
| Mid Baader Bank Aktiengesellschaft | $2,198,304 | 2.56% | 163,200 | Shares | 2026-07-23 | |
| Mid Axxion S.A. | $1,873,811 | 2.18% | 139,110 | Shares | 2026-08-14 | |
| Large RENAISSANCE TECHNOLOGIES LLC Registered adviser | $1,736,969 | 2.02% | 128,951 | Shares | 2026-08-13 | |
| Mega Russell Investments Group, Ltd. | $1,544,387 | 1.80% | 114,654 | Shares | 2026-08-06 | |
| Mega CHARLES SCHWAB INVESTMENT MANAGEMENT INC Registered adviser | $979,174 | 1.14% | 72,693 | Shares | 2026-08-14 | |
| Large Quantinno Capital Management LP Registered adviser | $979,161 | 1.14% | 72,692 | Shares | 2026-08-13 | |
| Small Blackhawk Capital Partners, LLC Registered adviser | $855,048 | 0.99% | 63,478 | Shares | 2026-07-20 | |
| Mega NORTHERN TRUST CORP Bank | $814,597 | 0.95% | 60,475 | Shares | 2026-08-13 | |
| Mega VANGUARD FIDUCIARY TRUST CO | $756,178 | 0.88% | 56,138 | Shares | 2026-08-13 | |
| Mega VANGUARD PORTFOLIO MANAGEMENT LLC Registered adviser | $633,372 | 0.74% | 47,021 | Shares | 2026-08-13 | |
| Mega D. E. Shaw & Co., Inc. | $624,118 | 0.73% | 46,334 | Shares | 2026-08-14 | |
| Mega AQR CAPITAL MANAGEMENT LLC Registered adviser | $614,714 | 0.71% | 45,636 | Shares | 2026-08-14 | |
| Small Crawford Fund Management, LLC Registered adviser | $525,330 | 0.61% | 39,000 | Put | 2026-08-14 | |
| Mega MORGAN STANLEY Holding company | $519,563 | 0.60% | 38,572 | Shares | 2026-08-13 | |
| Small K.J. Harrison & Partners Inc | $426,608 | 0.50% | 31,671 | Shares | 2026-08-07 | |
| Mega GOLDMAN SACHS GROUP INC Holding company | $285,052 | 0.33% | 21,162 | Shares | 2026-08-14 | |
| Mid GSA CAPITAL PARTNERS LLP Registered adviser | $284,567 | 0.33% | 21,126 | Shares | 2026-08-06 | |
| Mega Bank of New York Mellon Corp Bank | $268,684 | 0.31% | 19,947 | Shares | 2026-08-06 | |
| Large Connor, Clark & Lunn Investment Management Ltd. Registered adviser | $262,665 | 0.31% | 19,500 | Shares | 2026-08-13 | |
| Mega DIMENSIONAL FUND ADVISORS LP Registered adviser | $236,209 | 0.27% | 17,536 | Shares | 2026-08-11 | |
| Mega Nuveen, LLC | $228,167 | 0.27% | 16,939 | Shares | 2026-08-11 | |
| Mega ALLIANCEBERNSTEIN L.P. Registered adviser | $168,240 | 0.20% | 12,490 | Shares | 2026-08-14 | |
| Mega CITADEL ADVISORS LLC Registered adviser | $156,507 | 0.18% | 11,619 | Shares | 2026-09-02 | |
| Mega RHUMBLINE ADVISERS Registered adviser | $116,434 | 0.14% | 8,644 | Shares | 2026-08-12 | |
| Mega FMR LLC Holding company | $103,731 | 0.12% | 7,701 | Shares | 2026-08-13 | |
| Mega ROYAL BANK OF CANADA Bank | $97,494 | 0.11% | 7,238 | Shares | 2026-08-14 | |
| Mega DEUTSCHE BANK AG\ Non-US | $86,598 | 0.10% | 6,429 | Shares | 2026-08-07 | |
| Mega WELLS FARGO & COMPANY/MN Bank | $79,621 | 0.09% | 5,911 | Shares | 2026-08-14 | |
| Mega CITIGROUP INC Bank | $57,798 | 0.07% | 4,291 | Shares | 2026-08-03 | |
| Mega UBS Group AG Bank | $54,162 | 0.06% | 4,021 | Shares | 2026-08-13 | |
| Mega Vanguard Global Advisers, LLC Registered adviser | $46,094 | 0.05% | 3,422 | Shares | 2026-08-13 | |
| Large Arax Advisory Partners Registered adviser | $43,871 | 0.05% | 3,257 | Shares | 2026-08-10 | |
| Large MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $43,009 | 0.05% | 3,193 | Shares | 2026-08-14 | |
| Mega JPMORGAN CHASE & CO Bank | $42,200 | 0.05% | 3,133 | Shares | 2026-08-12 | |
| Large TD Waterhouse Canada Inc. | $34,965 | 0.04% | 3,700 | Shares | 2026-10-16 | |
| Large Police & Firemen's Retirement System of New Jersey | $21,578 | 0.03% | 1,602 | Shares | 2026-07-23 | |
| Mega BNP PARIBAS ARBITRAGE, SA Non-US | $15,261 | 0.02% | 1,133 | Shares | 2026-08-13 | |
| Mega BARCLAYS PLC Bank | $14,170 | 0.02% | 1,052 | Shares | 2026-08-14 | |
| Large NEW YORK STATE COMMON RETIREMENT FUND | $14,076 | 0.02% | 1,045 | Shares | 2026-07-29 | |
| Mid Tower Research Capital LLC (TRC) | $13,389 | 0.02% | 994 | Shares | 2026-08-11 | |
| Mid Ameritas Investment Partners, Inc. Registered adviser | $10,641 | 0.01% | 790 | Shares | 2026-08-13 | |
| Mega Legal & General Group Plc | $8,715 | 0.01% | 647 | Shares | 2026-08-14 | |
| Mega NATIONAL BANK OF CANADA /FI/ Bank | $5,455 | 0.01% | 405 | Shares | 2026-08-10 | |
| Mega UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Registered adviser | $5,441 | 0.01% | 404 | Shares | 2026-08-13 | |
| Large NISA INVESTMENT ADVISORS, LLC Registered adviser | $4,016 | 0.00% | 425 | Shares | 2026-10-20 | |
| Mega PNC FINANCIAL SERVICES GROUP, INC. Bank | $3,219 | 0.00% | 239 | Shares | 2026-08-07 | |
| Mid Sterling Capital Management LLC Registered adviser | $1,495 | 0.00% | 111 | Shares | 2026-07-28 | |
| Large Allworth Financial LP | $1,454 | 0.00% | 108 | Shares | 2026-08-11 | |
| Mega CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM Benefit plan | $1,279 | 0.00% | 95 | Shares | 2026-08-24 | |
| Mid EverSource Wealth Advisors, LLC Registered adviser | $1,130 | 0.00% | 84 | Shares | 2026-07-24 | |
| Large Steward Partners Investment Advisory, LLC Registered adviser | $996 | 0.00% | 74 | Shares | 2026-08-13 | |
| Large Farther Finance Advisors, LLC Registered adviser | $841 | 0.00% | 89 | Shares | 2026-10-08 | |
| Mid MassMutual Private Wealth & Trust, FSB | $737 | 0.00% | 78 | Shares | 2026-10-05 | |
| Mid Global Retirement Partners, LLC | $579 | 0.00% | 43 | Shares | 2026-08-06 | |
| Small Essential Partners LLC Registered adviser | $557 | 0.00% | 59 | Shares | 2026-10-14 | |
| Mid GAMMA Investing LLC Registered adviser | $444 | 0.00% | 47 | Shares | 2026-10-08 | |
| Mid ROTHSCHILD INVESTMENT LLC Registered adviser | $323 | 0.00% | 24 | Shares | 2026-08-06 | |
| Mid IFP Advisors, Inc Registered adviser | $207 | 0.00% | 22 | Shares | 2026-10-16 | |
| Small True Wealth Design, LLC Registered adviser | $47 | 0.00% | 5 | Shares | 2026-10-13 | |
| Mid Clearstead Advisors, LLC Registered adviser | $26 | 0.00% | 2 | Shares | 2026-08-06 | |
| Small SJS Investment Consulting Inc. Registered adviser | $13 | 0.00% | 1 | Shares | 2026-07-22 |