Institutional HoldersBeta

Who holds a company, from every 13F filed for the quarter, one row per filer exactly as filed, against the latest share count the company reported.

BrightView Holdings, Inc.

CIK 0001734713BV· quarter ending 2026-06-30

Shares outstanding

92,600,000

as of 2026-07-31 · 10-Q cover page, filed 2026-08-04

Held by 13F filers

95,750,569

103.4% of shares outstanding

Holders

184

-4 vs 2026-03-31 · 21 new, 25 exited

Value

$1.4B

shares -3.4% vs prior quarter

13F holdings exceed the share count. This is normal for heavily shorted stocks: shares lent to short sellers are reported by the lender and again by whoever bought them. Related filers occasionally report the same position twice as well.

Share classes (cover page of the 10-Q filed 2026-08-04, as of 2026-07-31)

Class	Listed	Shares outstanding	Held by 13F filers	% of class	Holders	CUSIP
Common stock	BV · NYSE	92,600,000	95,750,569	103.4%	184	10948C107

Each class is compared with its own share count; classes are not added together. A class that is not exchange-listed cannot be held by 13F filers.

Securities (CUSIPs held in 13F this quarter)

tick to combine

Count	CUSIP	Class (as filers write it)	Holders	Shares held	Class shares	% of class	Value	Options	Mapped via
	10948C107	COM	184	95,750,569	92,600,000	103.4%	$1.4B	0 call / 1 put	13DG	holders →

Totals combine the ticked CUSIPs and update as you tick: common-stock classes by default; preferreds, notes, warrants and depositary shares are listed but not counted. "holders →" shows a single CUSIP on its own. Bonds are held as a principal amount, not shares. Options positions are never counted as holdings.

Top holders (184 of 184 · 10948C107)

change vs 2026-03-31

#	Filer	Shares	% of class	Value	Change
1	Kohlberg Kravis Roberts & Co. L.P.	21,533,123	23.25%	$308.9M	—
2	BlackRock, Inc.	5,652,177	6.10%	$80.1M	+437,052 (+8.4%)
3	DIMENSIONAL FUND ADVISORS LP	5,476,335	5.91%	$77.6M	+207,579 (+3.9%)
4	Van Berkom & Associates Inc.	5,017,317	5.42%	$71.1M	-5,059,917 (-50.2%)
5	GOLDMAN SACHS GROUP INC	3,888,211	4.20%	$55.1M	+1,150,436 (+42.0%)
6	VANGUARD PORTFOLIO MANAGEMENT LLC	3,224,862	3.48%	$45.7M	-33,013 (-1.0%)
7	VANGUARD CAPITAL MANAGEMENT LLC	3,106,504	3.35%	$44.0M	+9,644 (+0.3%)
8	Harvey Partners, LLC	3,078,797	3.32%	$43.6M	+140,797 (+4.8%)
9	COOKE & BIELER LP	2,509,527	2.71%	$35.6M	-1,353,071 (-35.0%)
10	FMR LLC	2,433,288	2.63%	$34.5M	+223,794 (+10.1%)
11	ALLIANCEBERNSTEIN L.P.	2,276,098	2.46%	$26.8M	-42,128 (-1.8%)
12	BESSEMER GROUP INC	2,239,585	2.42%	$31.7M	+359,873 (+19.1%)
13	Newtyn Management, LLC	1,940,000	2.10%	$27.5M	-160,000 (-7.6%)
14	GEODE CAPITAL MANAGEMENT, LLC	1,797,397	1.94%	$25.5M	+84,543 (+4.9%)
15	STATE STREET CORP	1,726,815	1.86%	$24.5M	+127,269 (+8.0%)
16	TWO SIGMA INVESTMENTS, LP	1,619,826	1.75%	$23.0M	+101,366 (+6.7%)
17	ROYCE & ASSOCIATES LP	1,510,998	1.63%	$21.4M	+1,090,887 (+259.7%)
18	MACKENZIE FINANCIAL CORP	1,351,852	1.46%	$19.2M	+1,011,944 (+297.7%)
19	PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.	1,184,042	1.28%	$16.8M	+67,211 (+6.0%)
20	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	1,123,648	1.21%	$15.9M	+397,269 (+54.7%)
21	MILLENNIUM MANAGEMENT LLC	1,067,917	1.15%	$15.1M	-267,998 (-20.1%)
22	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	1,016,593	1.10%	$14.4M	-91,512 (-8.3%)
23	Boston Partners	899,918	0.97%	$12.8M	-1,206,548 (-57.3%)
24	AWH Capital, L.P.	850,000	0.92%	$12.0M	+557,500 (+190.6%)
25	Telemark Asset Management, LLC	850,000	0.92%	$12.0M	—
26	Qube Research & Technologies Ltd	837,222	0.90%	$11.9M	-414,956 (-33.1%)
27	Ophir Asset Management Pty Ltd	782,131	0.84%	$11.1M	NEW
28	BRIDGEWAY CAPITAL MANAGEMENT, LLC	690,443	0.75%	$9.8M	-121,633 (-15.0%)
29	D. E. Shaw & Co., Inc.	656,984	0.71%	$9.3M	+248,836 (+61.0%)
30	PRIVATE MANAGEMENT GROUP INC	631,307	0.68%	$8.9M	-9,591 (-1.5%)
31	NORTHERN TRUST CORP	592,564	0.64%	$8.4M	+30,071 (+5.3%)
32	Russell Investments Group, Ltd.	549,091	0.59%	$7.8M	-83,655 (-13.2%)
33	Pillsbury Lake Capital LLC	502,957	0.54%	$7.1M	-3,793 (-0.7%)
34	Dana Investment Advisors, Inc.	500,041	0.54%	$7.1M	-8,292 (-1.6%)
35	ALGERT GLOBAL LLC	476,749	0.51%	$6.8M	+438,349 (+1141.5%)
36	FEDERATED HERMES, INC.	464,958	0.50%	$6.6M	+5,303 (+1.2%)
37	VANGUARD FIDUCIARY TRUST CO	458,553	0.50%	$6.5M	+5,034 (+1.1%)
38	CastleKnight Management LP	452,400	0.49%	$6.4M	+143,600 (+46.5%)
39	Empowered Funds, LLC	436,743	0.47%	$6.2M	+18,367 (+4.4%)
40	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	421,769	0.46%	$6.0M	—
41	GILDER GAGNON HOWE & CO LLC	416,989	0.45%	$5.9M	-115,020 (-21.6%)
42	FIRST TRUST ADVISORS LP	410,913	0.44%	$5.8M	+75,453 (+22.5%)
43	MORGAN STANLEY	392,542	0.42%	$5.6M	+66,208 (+20.3%)
44	UBS Group AG	383,513	0.41%	$5.4M	-8,711 (-2.2%)
45	PALISADE CAPITAL MANAGEMENT, LP	366,435	0.40%	$5.2M	-164,644 (-31.0%)
46	THOMPSON SIEGEL & WALMSLEY LLC	359,084	0.39%	$5.1M	-275,532 (-43.4%)
47	Trexquant Investment LP	357,251	0.39%	$5.1M	+342,357 (+2298.6%)
48	Interval Partners, LP	349,222	0.38%	$4.9M	-1,024,264 (-74.6%)
49	TEACHER RETIREMENT SYSTEM OF TEXAS	288,063	0.31%	$4.1M	+171,364 (+146.8%)
50	Bank of New York Mellon Corp	278,866	0.30%	$4.0M	+18,372 (+7.1%)
51	PEREGRINE CAPITAL MANAGEMENT LLC	277,990	0.30%	$3.9M	-24,267 (-8.0%)
52	Nuveen, LLC	270,322	0.29%	$3.8M	+144,447 (+114.8%)
53	NEW YORK STATE COMMON RETIREMENT FUND	246,188	0.27%	$3.5M	+7,300 (+3.1%)
54	RICE HALL JAMES & ASSOCIATES, LLC	220,630	0.24%	$3.1M	-2,519 (-1.1%)
55	Penn Capital Management Company, LLC	202,694	0.22%	$2.9M	-28,885 (-12.5%)
56	CONNORS INVESTOR SERVICES INC	190,964	0.21%	$2.7M	+2,948 (+1.6%)
57	HighTower Advisors, LLC	187,954	0.20%	$2.7M	+270 (+0.1%)
58	SEI INVESTMENTS CO	173,974	0.19%	$2.5M	-35,367 (-16.9%)
59	Redmond Asset Management, LLC	173,219	0.19%	$2.5M	-6,188 (-3.4%)
60	AQR CAPITAL MANAGEMENT LLC	169,595	0.18%	$2.4M	+60,446 (+55.4%)
61	Bleakley Financial Group, LLC	168,404	0.18%	$2.4M	+38,363 (+29.5%)
62	BANK OF AMERICA CORP /DE/	159,739	0.17%	$2.3M	-239,308 (-60.0%)
63	ANCHOR CAPITAL ADVISORS LLC	158,876	0.17%	$2.3M	+79,234 (+99.5%)
64	XTX Topco Ltd	158,229	0.17%	$2.2M	+2,608 (+1.7%)
65	HARBOR CAPITAL ADVISORS, INC.	148,915	0.16%	$2.1M	-894 (-0.6%)
66	Swiss National Bank	141,800	0.15%	$2.0M	+1,400 (+1.0%)
67	Invesco Ltd.	136,777	0.15%	$1.9M	-27,412 (-16.7%)
68	HRT FINANCIAL LP	134,395	0.15%	$1.9M	+97,558 (+264.8%)
69	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	134,370	0.15%	$1.9M	-18,447 (-12.1%)
70	AMERICAN CENTURY COMPANIES INC	127,404	0.14%	$1.8M	+4,203 (+3.4%)
71	Universal- Beteiligungs- und Servicegesellschaft mbH	121,481	0.13%	$1.7M	+26,396 (+27.8%)
72	BOOTHBAY FUND MANAGEMENT, LLC	119,030	0.13%	$1.7M	-26,233 (-18.1%)
73	Expect Equity LLC	116,484	0.13%	$1.7M	+16,002 (+15.9%)
74	Vanguard Global Advisers, LLC	101,398	0.11%	$1.4M	—
75	RHUMBLINE ADVISERS	92,112	0.10%	$1.3M	+12,609 (+15.9%)
76	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	82,335	0.09%	$1.2M	+25,501 (+44.9%)
77	Quantinno Capital Management LP	76,797	0.08%	$1.1M	+27,697 (+56.4%)
78	WELLS FARGO & COMPANY/MN	74,547	0.08%	$1.1M	+41,133 (+123.1%)
79	FRANKLIN RESOURCES INC	74,282	0.08%	$1.1M	+37,465 (+101.8%)
80	PRICE T ROWE ASSOCIATES INC /MD/	73,890	0.08%	$1.0M	+7,699 (+11.6%)
81	DEUTSCHE BANK AG\	71,711	0.08%	$1.0M	+11,719 (+19.5%)
82	Legal & General Group Plc	62,501	0.07%	$886K	+461 (+0.7%)
83	JPMORGAN CHASE & CO	62,496	0.07%	$936K	-25,481 (-29.0%)
84	CREDIT AGRICOLE S A	60,000	0.06%	$850K	—
85	Y-Intercept (Hong Kong) Ltd	55,493	0.06%	$786K	NEW
86	Greenwich Wealth Management LLC	55,000	0.06%	$779K	—
87	DARK FOREST CAPITAL MANAGEMENT LP	52,914	0.06%	$750K	NEW
88	STRS OHIO	52,300	0.06%	$741K	+9,500 (+22.2%)
89	VANGUARD ASSET MANAGEMENT, Ltd	48,692	0.05%	$690K	—
90	Inspire Investing, LLC	48,055	0.05%	$681K	+4,499 (+10.3%)
91	Creative Planning	43,743	0.05%	$620K	+14,509 (+49.6%)
92	MetLife Investment Management, LLC	43,665	0.05%	$619K	+7,653 (+21.3%)
93	Brevan Howard Capital Management LP	43,413	0.05%	$615K	NEW
94	INCEPTIONR LLC	41,689	0.05%	$591K	NEW
95	CITIGROUP INC	41,042	0.04%	$582K	+28,477 (+226.6%)
96	BROWN BROTHERS HARRIMAN & CO	40,009	0.04%	$567K	—
97	State of Wyoming	39,306	0.04%	$557K	+1,909 (+5.1%)
98	MERCER GLOBAL ADVISORS INC /ADV	39,188	0.04%	$555K	+2,971 (+8.2%)
99	Balyasny Asset Management L.P.	36,851	0.04%	$522K	+18,475 (+100.5%)
100	Engineers Gate Manager LP	34,800	0.04%	$493K	+18,900 (+118.9%)
101	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	32,726	0.04%	$464K	-648 (-1.9%)
102	Zurcher Kantonalbank (Zurich Cantonalbank)	32,153	0.03%	$456K	+10,397 (+47.8%)
103	MANUFACTURERS LIFE INSURANCE COMPANY, THE	31,706	0.03%	$449K	-1,100 (-3.4%)
104	Focus Partners Wealth	30,333	0.03%	$430K	+310 (+1.0%)
105	MARSHALL WACE, LLP	28,772	0.03%	$408K	-175,616 (-85.9%)
106	STATE OF WISCONSIN INVESTMENT BOARD	28,706	0.03%	$407K	-2,821 (-8.9%)
107	SUSQUEHANNA INTERNATIONAL GROUP, LLP	28,127	0.03%	$399K	-4,467 (-13.7%)
108	Squarepoint Ops LLC	27,914	0.03%	$396K	-15,521 (-35.7%)
109	OPTIMIZE FINANCIAL INC.	27,520	0.03%	$390K	-95 (-0.3%)
110	Sound Capital Solutions LLC	27,520	0.03%	$390K	NEW
111	Jupiter Topco LLC	27,074	0.03%	$384K	NEW
112	EntryPoint Capital, LLC	26,755	0.03%	$379K	+16,042 (+149.7%)
113	Numerai GP LLC	25,892	0.03%	$367K	+7,852 (+43.5%)
114	TUDOR INVESTMENT CORP ET AL	25,534	0.03%	$362K	NEW
115	RAYMOND JAMES FINANCIAL INC	24,791	0.03%	$351K	NEW
116	Police & Firemen's Retirement System of New Jersey	21,366	0.02%	$303K	+3,193 (+17.6%)
117	DRW Securities, LLC	20,374	0.02%	$289K	NEW
118	JB CAPITAL PARTNERS LP	20,000	0.02%	$283K	—
119	ARIZONA STATE RETIREMENT SYSTEM	19,494	0.02%	$276K	-29 (-0.1%)
120	Vanguard Investments Australia, Ltd.	19,042	0.02%	$270K	+3,910 (+25.8%)
121	Pathstone Holdings, LLC	18,451	0.02%	$261K	+544 (+3.0%)
122	INTECH INVESTMENT MANAGEMENT LLC	18,424	0.02%	$261K	-3,610 (-16.4%)
123	ENVESTNET ASSET MANAGEMENT INC	17,527	0.02%	$248K	-26,141 (-59.9%)
124	Walleye Capital LLC	16,223	0.02%	$230K	NEW
125	KLP KAPITALFORVALTNING AS	14,900	0.02%	$211K	—
126	VOYA INVESTMENT MANAGEMENT LLC	13,911	0.02%	$197K	+3,097 (+28.6%)
127	Composition Wealth, LLC	13,029	0.01%	$185K	—
128	GLENMEDE TRUST CO NA	12,965	0.01%	$184K	NEW
129	Sequoia Financial Advisors, LLC	12,812	0.01%	$182K	NEW
130	MCMORGAN & CO LLC	12,415	0.01%	$176K	-150 (-1.2%)
131	Pictet Asset Management Holding SA	11,882	0.01%	$168K	—
132	STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM	11,810	0.01%	$167K	—
133	LAZARD ASSET MANAGEMENT LLC	11,791	0.01%	$167K	-4,501 (-27.6%)
134	PRUDENTIAL FINANCIAL INC	11,725	0.01%	$166K	+700 (+6.3%)
135	BARCLAYS PLC	10,675	0.01%	$151K	-41,200 (-79.4%)
136	CANADA LIFE ASSURANCE Co	10,554	0.01%	$149K	—
137	PRELUDE CAPITAL MANAGEMENT, LLC	10,164	0.01%	$144K	NEW
138	COMMONWEALTH EQUITY SERVICES, LLC	10,114	0.01%	$143K	-602 (-5.6%)
139	Kathmere Capital Management, LLC	10,000	0.01%	$142K	—
140	BNP PARIBAS FINANCIAL MARKETS	9,816	0.01%	$139K	-5,419 (-35.6%)
141	Tower Research Capital LLC (TRC)	6,677	0.01%	$95K	+974 (+17.1%)
142	Ameritas Investment Partners, Inc.	6,449	0.01%	$91K	+558 (+9.5%)
143	State of Alaska, Department of Revenue	6,402	0.01%	$90K	—
144	BFSG, LLC	3,985	0.00%	$56K	—
145	ROYAL BANK OF CANADA	3,138	0.00%	$44K	+2,057 (+190.3%)
146	Arax Advisory Partners	3,005	0.00%	$43K	+2,291 (+320.9%)
147	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	2,919	0.00%	$41K	+504 (+20.9%)
148	SIGNATUREFD, LLC	2,326	0.00%	$33K	—
149	Allworth Financial LP	1,539	0.00%	$22K	+565 (+58.0%)
150	Sterling Capital Management LLC	1,432	0.00%	$20K	-924 (-39.2%)
151	BNP PARIBAS ASSET MANAGEMENT Holding S.A.	820	0.00%	$12K	NEW
152	US BANCORP \DE\	698	0.00%	$10K	+69 (+11.0%)
153	FIFTH THIRD BANCORP	686	0.00%	$10K	-222 (-24.4%)
154	NISA INVESTMENT ADVISORS, LLC	620	0.00%	$9K	-174 (-21.9%)
155	SJS Investment Consulting Inc.	594	0.00%	$8K	+591 (+19700.0%)
156	GAMMA Investing LLC	570	0.00%	$8K	-141 (-19.8%)
157	Farther Finance Advisors, LLC	557	0.00%	$8K	+38 (+7.3%)
158	IFP Advisors, Inc	431	0.00%	$6K	+127 (+41.8%)
159	Smartleaf Asset Management LLC	416	0.00%	$6K	—
160	EverSource Wealth Advisors, LLC	402	0.00%	$6K	+377 (+1508.0%)
161	TOKIO MARINE ASSET MANAGEMENT CO LTD	346	0.00%	$5K	NEW
162	Transamerica Financial Advisors, LLC	290	0.00%	$4K	NEW
163	Optiver Holding B.V.	278	0.00%	$4K	-48 (-14.7%)
164	Versant Capital Management, Inc	265	0.00%	$4K	-345 (-56.6%)
165	LOS ANGELES CAPITAL MANAGEMENT LLC	204	0.00%	$3K	—
166	Aster Capital Management (DIFC) Ltd	198	0.00%	$3K	-24,886 (-99.2%)
167	ROTHSCHILD INVESTMENT LLC	163	0.00%	$2K	+105 (+181.0%)
168	OSAIC HOLDINGS, INC.	151	0.00%	$2K	—
169	Capital Advisors, Ltd. LLC	148	0.00%	$2K	—
170	COMPASS FINANCIAL MANAGEMENT LLC	117	0.00%	$2K	NEW
171	Parallel Advisors, LLC	113	0.00%	$2K	—
172	Covestor Ltd	101	0.00%	$1K	+45 (+80.4%)
173	Torren Management, LLC	89	0.00%	$1K	—
174	North Star Investment Management Corp.	50	0.00%	$708	—
175	Clearstead Advisors, LLC	48	0.00%	$681	NEW
176	Wiser Advisor Group LLC	24	0.00%	$340	NEW
177	Essential Partners LLC	20	0.00%	$283	-70 (-77.8%)
178	HUNTINGTON NATIONAL BANK	14	0.00%	$198	+13 (+1300.0%)
179	PNC Financial Services Group, Inc.	5	0.00%	$71	—
180	JPL Wealth Management, LLC	4	0.00%	$57	NEW
181	Parkside Financial Bank & Trust	2	0.00%	$29	-70 (-97.2%)
182	GHP Investment Advisors, Inc.	1	0.00%	$15	—
183	Dunhill Financial, LLC	1	0.00%	$22	—
184	Freestone Grove Partners LP	1	0.00%	$14	—

Exited since 2026-03-31 (25 filers; largest 25 shown)

T. Rowe Price Investment Management, Inc.	−589,899
Caisse de depot et placement du Quebec	−404,551
Alyeska Investment Group, L.P.	−349,791
JANE STREET GROUP, LLC	−65,245
VARCOV Co.	−36,896
Voleon Capital Management LP	−27,691
JANUS HENDERSON GROUP PLC	−26,832
FOX RUN MANAGEMENT, L.L.C.	−22,980
Dynamic Technology Lab Private Ltd	−22,506
Amundi	−19,878
EVERGREEN CAPITAL MANAGEMENT LLC	−18,534
Aigen Investment Management, LP	−18,087
GSA CAPITAL PARTNERS LLP	−14,662
Janney Montgomery Scott LLC	−12,292
ProShare Advisors LLC	−10,309
CWM, LLC	−3,419
QUADRANT CAPITAL GROUP LLC	−2,793
Root Financial Partners, LLC	−120
BARROW HANLEY MEWHINNEY & STRAUSS LLC	−104
SIMPLEX TRADING, LLC	−85
DecisionPoint Financial, LLC	−41
Rachor Investment Advisory Services, LLC	−13
Sunbelt Securities, Inc.	−7
NATIONAL BANK OF CANADA /FI/	−5
MAI Capital Management	−3

Large holders from 13D/13G (latest per reporting person, last 2 years)

Filed when a holder crosses 5% or changes materially, so often more current than the quarter-end 13F. Percentages are the filer's own, against the share count they used.

Reporting person	Form	Filed	Event	Shares	% of class
The Vanguard Group	SCHEDULE 13G/A	2026-03-26	2026-03-13	0	0%
Van Berkom & Associates Inc.	SCHEDULE 13G	2026-02-02	2025-12-31	4,858,860	5.1%
BlackRock, Inc.	SCHEDULE 13G	2025-10-17	2025-09-30	5,041,087	5.3%
KKR Group Co. Inc.	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR Group Partnership L.P.	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR BrightView Aggregator GP LLC	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR BrightView Aggregator L.P.	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR & Co. Inc.	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
Henry R. Kravis	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR Group Holdings Corp.	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR Associates North America XI L.P.	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR Management LLP	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR North America Fund XI L.P.	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
KKR North America XI Limited	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
George R. Roberts	SCHEDULE 13G/A	2025-08-08	2025-06-30	21,533,123	22.6%
Dimensional Fund Advisors LP	SCHEDULE 13G	2025-07-15	2025-06-30	4,806,719	5%
T. Rowe Price Investment Management, Inc.	SCHEDULE 13G/A	2025-05-14	2025-03-31	1,729,903	1.8%

Source: SEC Form 13F-HR information tables for the quarter ending 2026-06-30 (filed within 45 days of quarter end; amendments applied; values normalised to dollars), the share count from the company's latest 10-K/10-Q XBRL cover page, and Schedule 13D/13G filings. Each row is a legal 13F filer as filed — related entities (e.g. Vanguard's advisers) are not merged. Retail brokerage accounts are not reported on 13F, so the remainder is mostly retail and insiders.