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.

Voyager Technologies, Inc./TX

CIK 0001788060VOYG· quarter ending 2026-06-30
Shares outstanding
61,029,060
Held by 13F filers
44,124,630
79.8% of Common Class A
Holders
242
+25 vs 2026-03-31 · 70 new, 45 exited
Value
$1.4B
shares +25.3% vs prior quarter

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

ClassListedShares outstandingHeld by 13F filers% of classHoldersCUSIP
Common Class AVOYG · NYSE55,270,49444,124,63079.8%24292892B103
Common Class Bnot listed5,758,566——

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
CountCUSIPClass (as filers write it)HoldersShares heldClass shares% of classValueOptionsMapped via
92892B103COM CL A24244,124,63055,270,49479.8%$1.4B13 call / 12 put13DGholders →
92892BAA1FIXED INCOMEnot common1
$478K principal
——$625K—prefixholders →

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 (242 of 242 · 92892B103)

change vs 2026-03-31
#FilerShares% of classValueChange
1BlackRock, Inc.3,714,2796.72%$119.8M+1,001,104 (+36.9%)
2Senvest Management, LLC2,965,7885.37%$95.6M-615,653 (-17.2%)
3WELLINGTON MANAGEMENT GROUP LLP2,307,0884.17%$74.4M+650,531 (+39.3%)
4VANGUARD PORTFOLIO MANAGEMENT LLC2,219,9544.02%$71.6M+1,042,635 (+88.6%)
5STATE STREET CORP2,174,5383.93%$70.1M+1,016,826 (+87.8%)
6VANGUARD CAPITAL MANAGEMENT LLC1,813,5103.28%$58.5M+859,460 (+90.1%)
7Tema ETFs LLC1,353,4852.45%$43.6M+1,352,409 (+125688.6%)
8FRONTIER CAPITAL MANAGEMENT CO LLC1,343,0542.43%$43.3M+115,867 (+9.4%)
9Tidal Investments LLC1,320,7172.39%$42.6MNEW
10Jupiter Topco LLC1,057,2711.91%$34.1MNEW
11VOYA INVESTMENT MANAGEMENT LLC1,053,0061.91%$34.0MNEW
12VAN ECK ASSOCIATES CORP951,6771.72%$30.7MNEW
13ALLIANCEBERNSTEIN L.P.901,3051.63%$21.1M-53,461 (-5.6%)
14Capital International Investors875,5251.58%$28.2M-157,633 (-15.3%)
15Mirae Asset Global Investments Co., Ltd.872,0431.58%$28.1MNEW
16UBS Group AG845,5311.53%$27.3M-31,784 (-3.6%)
17GEODE CAPITAL MANAGEMENT, LLC842,3501.52%$27.2M+105,101 (+14.3%)
18BANK OF NOVA SCOTIA805,8911.46%$26.0M+689,915 (+594.9%)
19MORGAN STANLEY648,5931.17%$20.9M+239,807 (+58.7%)
20MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.621,2301.12%$20.0M-118,599 (-16.0%)
21Alyeska Investment Group, L.P.621,0241.12%$20.0M-2,386,031 (-79.3%)
22BARCLAYS PLC554,8551.00%$17.9M+525,909 (+1816.9%)
23Dorsey & Whitney Trust CO LLC554,4391.00%$17.9M-302,822 (-35.3%)
24CITIGROUP INC532,5500.96%$17.2M+505,807 (+1891.4%)
25GOLDMAN SACHS GROUP INC506,3750.92%$16.3M-63,869 (-11.2%)
26Penserra Capital Management LLC491,1920.89%$15.8M+27,058 (+5.8%)
27Mitsubishi UFJ Asset Management Co., Ltd.468,1200.85%$15.1M+105,464 (+29.1%)
28Invesco Ltd.446,5190.81%$14.4M+27,070 (+6.5%)
29BNP PARIBAS FINANCIAL MARKETS427,2580.77%$13.8M+321,874 (+305.4%)
30TORONTO DOMINION BANK417,0550.75%$13.5MNEW
31READYSTATE ASSET MANAGEMENT LP410,2510.74%$13.2M+384,028 (+1464.5%)
32Driehaus Capital Management LLC364,0290.66%$11.7MNEW
33BANK OF AMERICA CORP /DE/347,5680.63%$11.2M-96,866 (-21.8%)
34TWO SIGMA INVESTMENTS, LP347,2850.63%$11.2M+313,801 (+937.2%)
35NORTHERN TRUST CORP334,8980.61%$10.8M+48,500 (+16.9%)
36ExodusPoint Capital Management, LP308,6800.56%$10.0M+35,178 (+12.9%)
37DEUTSCHE BANK AG\308,1870.56%$9.9M+16,211 (+5.6%)
38AMERICAN FINANCIAL GROUP INC300,0000.54%$9.7M-594,941 (-66.5%)
39Mizuho Markets Cayman LP286,9210.52%$9.3MNEW
40VICTORY CAPITAL MANAGEMENT INC281,3880.51%$9.1MNEW
41Jump Financial, LLC269,0030.49%$8.7M+172,194 (+177.9%)
42KENNEDY CAPITAL MANAGEMENT LLC266,5450.48%$8.6M-5,062 (-1.9%)
43JPMORGAN CHASE & CO265,5220.48%$8.1M-320,390 (-54.7%)
44Nuveen, LLC260,6800.47%$8.4M+136,084 (+109.2%)
45SEVEN GRAND MANAGERS, LLC250,0000.45%$8.1M—
46FEDERATED HERMES, INC.245,1000.44%$7.9M-93,900 (-27.7%)
47NEUBERGER BERMAN GROUP LLC238,2440.43%$7.7M+182,151 (+324.7%)
48MIZUHO MARKETS AMERICAS LLC233,6070.42%$7.5MNEW
49Palisades Investment Partners, LLC202,7260.37%$6.5MNEW
50CHARLES SCHWAB INVESTMENT MANAGEMENT INC198,6520.36%$6.4M+17,641 (+9.7%)
51WHITEBOX ADVISORS LLC196,1560.35%$6.3MNEW
52Defiance ETFs, LLC178,2720.32%$6.0M-4,732 (-2.6%)
53TUDOR INVESTMENT CORP ET AL163,8450.30%$5.3M+42,374 (+34.9%)
54XTX Topco Ltd160,4110.29%$5.2M+120,177 (+298.7%)
55VANGUARD FIDUCIARY TRUST CO160,3390.29%$5.2M+34,191 (+27.1%)
56Bank of New York Mellon Corp141,1410.26%$4.6M+11,792 (+9.1%)
57Vanderbilt University136,9250.25%$4.4M—
58Burkehill Global Management, LP120,0000.22%$3.9M—
59BAMCO INC /NY/120,0000.22%$3.9M—
60Point72 Asset Management, L.P.118,4790.21%$3.8M-30,272 (-20.4%)
61FIFTH THIRD BANCORP117,6830.21%$3.8M+30,308 (+34.7%)
62AQR CAPITAL MANAGEMENT LLC103,8050.19%$3.3M+74,406 (+253.1%)
63Kestra Advisory Services, LLC103,5370.19%$3.3M-16,075 (-13.4%)
64STIFEL FINANCIAL CORP100,5240.18%$3.2M+26,758 (+36.3%)
65NEW YORK STATE COMMON RETIREMENT FUND99,5090.18%$3.2M+84,409 (+559.0%)
66MILLENNIUM MANAGEMENT LLC93,7250.17%$3.0M-523,988 (-84.8%)
67Obermeyer Wealth Partners92,4520.17%$3.0M-815 (-0.9%)
68Cresset Asset Management, LLC87,1530.16%$2.8MNEW
69Rockefeller Capital Management L.P.82,6750.15%$2.7M+81,452 (+6660.0%)
70Fiduciary Wealth Partners, LLC77,6840.14%$2.5M—
71RAYMOND JAMES FINANCIAL INC74,7430.14%$2.4M-290,804 (-79.6%)
72Lane Generational LLC71,5980.13%$2.3M-22,848 (-24.2%)
73RHUMBLINE ADVISERS64,9430.12%$2.1M+13,626 (+26.6%)
74Quantinno Capital Management LP64,3080.12%$2.1M-4,732 (-6.9%)
75Evercore Wealth Management, LLC63,6720.12%$2.1M+178 (+0.3%)
76Pathstone Holdings, LLC62,1530.11%$2.0M-6,889 (-10.0%)
77RWA WEALTH PARTNERS, LLC60,4910.11%$2.0M—
78LPL Financial LLC58,8690.11%$1.9M+29,514 (+100.5%)
79WELLS FARGO & COMPANY/MN58,3320.11%$1.9M+24,550 (+72.7%)
80Ghisallo Capital Management LLC50,0000.09%$1.6M-25,000 (-33.3%)
81FIRST TRUST ADVISORS LP49,2120.09%$1.6M-70,488 (-58.9%)
82Madison Park Capital Advisors, LLC45,9650.08%$461K+28,850 (+168.6%)
83HB Wealth Management, LLC45,5670.08%$1.5M+471 (+1.0%)
84PRICE T ROWE ASSOCIATES INC /MD/43,2350.08%$1.4M+9,147 (+26.8%)
85Johnson Financial Group, LLC42,9180.08%$1.4M-2,500 (-5.5%)
86Firsthand Capital Management, Inc.40,0000.07%$1.3MNEW
87EXCHANGE TRADED CONCEPTS, LLC39,4980.07%$1.3M+29,094 (+279.6%)
88WORLD EQUITY GROUP, INC.38,4330.07%$1.2M+400 (+1.1%)
89SUSQUEHANNA INTERNATIONAL GROUP, LLP38,4290.07%$1.2M+21,634 (+128.8%)
90Y-Intercept (Hong Kong) Ltd38,2630.07%$1.2MNEW
91Saba Capital Management, L.P.35,9840.07%$1.2M—
92WealthPlan Investment Management, LLC35,8920.06%$1.2M-88,386 (-71.1%)
93Swiss National Bank32,1000.06%$1.0M+600 (+1.9%)
94ROYAL BANK OF CANADA31,7570.06%$1.0M+28,716 (+944.3%)
95MetLife Investment Management, LLC30,5430.06%$985K+4,207 (+16.0%)
96Biltmore Family Office, LLC29,7730.05%$960K+3,730 (+14.3%)
97Corient Private Wealth LP29,7380.05%$959K-23,303 (-43.9%)
98MANUFACTURERS LIFE INSURANCE COMPANY, THE28,8890.05%$932K+4,750 (+19.7%)
99WEALTH ENHANCEMENT ADVISORY SERVICES, LLC24,5690.04%$766KNEW
100AMERIPRISE FINANCIAL INC24,4690.04%$789K-7,977 (-24.6%)
101SEI INVESTMENTS CO24,4000.04%$787K-19,683 (-44.6%)
102UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC24,1960.04%$780K-10,117 (-29.5%)
103CITADEL ADVISORS LLC22,1650.04%$715K-332,009 (-93.7%)
104ArrowMark Colorado Holdings LLC21,8470.04%$705K-95,360 (-81.4%)
105Cypress Point Wealth Management, LLC21,7740.04%$702KNEW
106TWINBEECH CAPITAL LP21,6080.04%$697KNEW
107GRIFFIN ASSET MANAGEMENT, INC.19,6170.04%$633K+3,680 (+23.1%)
108FORA Capital, LLC19,1960.03%$619KNEW
109BROWN ADVISORY INC19,1560.03%$618K+9,547 (+99.4%)
110Caitong International Asset Management Co., Ltd17,9870.03%$580K+17,935 (+34490.4%)
111Legal & General Group Plc17,9730.03%$580K-19,249 (-51.7%)
112CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM17,8080.03%$574K+214 (+1.2%)
113Fortis Advisors, LLC17,5630.03%$566K—
114Russell Investments Group, Ltd.17,3530.03%$560K+13,003 (+298.9%)
115X-Square Capital, LLC16,9800.03%$548K—
116D. E. Shaw & Co., Inc.16,6140.03%$536K-134,209 (-89.0%)
117MERCER GLOBAL ADVISORS INC /ADV16,3080.03%$526K-2,150 (-11.6%)
118STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM16,0880.03%$519K+6,782 (+72.9%)
119Zurcher Kantonalbank (Zurich Cantonalbank)15,8200.03%$510K-279 (-1.7%)
120Dana Investment Advisors, Inc.15,4040.03%$497K—
121Police & Firemen's Retirement System of New Jersey15,3270.03%$494K+2,506 (+19.5%)
122Calamos Advisors LLC15,0000.03%$484K—
123DAVENPORT & Co LLC14,4840.03%$467K-616 (-4.1%)
124INTECH INVESTMENT MANAGEMENT LLC14,4780.03%$467K+5,056 (+53.7%)
125OneDigital Investment Advisors LLC14,4430.03%$466K—
126Virtu Financial LLC14,3670.03%$463KNEW
127SG Americas Securities, LLC13,4060.02%$432K-21,693 (-61.8%)
128Archford Capital Strategies, LLC13,0680.02%$421KNEW
129CastleKnight Management LP12,7000.02%$410K—
130Modera Wealth Management, LLC12,5150.02%$404K—
131VANGUARD ASSET MANAGEMENT, Ltd11,5590.02%$373K—
132Vident Advisory, LLC11,2220.02%$362KNEW
133ROTHSCHILD INVESTMENT LLC10,6720.02%$344K+10,644 (+38014.3%)
134Walleye Capital LLC10,4680.02%$338KNEW
135Mariner, LLC10,4380.02%$337KNEW
136CAPTRUST FINANCIAL ADVISORS10,3840.02%$335KNEW
137IEQ CAPITAL, LLC10,0430.02%$324KNEW
138Genesis Financial Group, LLC10,0000.02%$323K—
139INDEPENDENT FINANCIAL GROUP, LLC9,6960.02%$313K—
140GROUP ONE TRADING LLC9,5090.02%$307K+4,954 (+108.8%)
141CAPSTONE INVESTMENT ADVISORS, LLC9,3440.02%$301K-13,556 (-59.2%)
142Pinpoint Asset Management (Singapore) Pte. Ltd.9,3420.02%$301KNEW
143Cornerstone Advisory, LLC9,1510.02%$295K-11,118 (-54.9%)
144Shay Capital LLC9,0390.02%$292K-5,260 (-36.8%)
145AIRE ADVISORS, LLC8,8890.02%$287K+222 (+2.6%)
146HighTower Advisors, LLC8,8120.02%$284KNEW
147Jefferies Financial Group Inc.8,6360.02%$279KNEW
148Skaana Management L.P.8,6000.02%$277KNEW
149PRUDENTIAL FINANCIAL INC8,5900.02%$277KNEW
150CROSSPOINT FINANCIAL, LLC8,5570.02%$276K—
151Proficio Capital Partners LLC8,2440.01%$266KNEW
152Richardson Capital Management LLC8,0000.01%$258K-9,114 (-53.3%)
153Cetera Investment Advisers7,8480.01%$253KNEW
154FMR LLC7,4210.01%$239K-30,650 (-80.5%)
155nVerses Capital, LLC7,1320.01%$230KNEW
156COMMONWEALTH EQUITY SERVICES, LLC6,9940.01%$226KNEW
157MOSAIC FAMILY WEALTH PARTNERS, LLC6,9790.01%$225KNEW
158Forum Financial Management, LP6,9560.01%$224KNEW
159ProShare Advisors LLC6,8050.01%$219KNEW
160FAS Wealth Partners, Inc.6,7090.01%$216KNEW
161SCOTIA CAPITAL INC.6,4640.01%$208KNEW
162Creative Planning6,2550.01%$202KNEW
163SBI Securities Co., Ltd.6,0920.01%$196K-2,109 (-25.7%)
164Vanguard Investments Australia, Ltd.5,6860.01%$183K—
165Tripletail Wealth Management, LLC5,5000.01%$188K-5,585 (-50.4%)
166Steward Partners Investment Advisory, LLC5,0180.01%$162K-78 (-1.5%)
167Ameritas Investment Partners, Inc.4,7160.01%$152K+794 (+20.2%)
168Vanguard Global Advisers, LLC4,6590.01%$150K—
169OSAIC HOLDINGS, INC.4,6160.01%$149K+1,063 (+29.9%)
170Gen-Wealth Partners Inc4,4580.01%$144K-85 (-1.9%)
171NATIXIS3,4800.01%$112K-1,481 (-29.9%)
172KLP KAPITALFORVALTNING AS3,4000.01%$110K—
173JONES FINANCIAL COMPANIES LLLP3,3990.01%$99K+2,533 (+292.5%)
174WPG Advisers, LLC3,2890.01%$106K+61 (+1.9%)
175INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC3,2000.01%$108KNEW
176Arax Advisory Partners3,1930.01%$103K+1,702 (+114.2%)
177Canton Hathaway, LLC3,1310.01%$101K—
178SIMPLEX TRADING, LLC2,8670.01%$92KNEW
179NISA INVESTMENT ADVISORS, LLC2,8580.01%$92K+739 (+34.9%)
180Tower Research Capital LLC (TRC)2,1580.00%$70K-2,372 (-52.4%)
181Leonteq Securities AG2,0000.00%$65KNEW
182FNY Investment Advisers, LLC2,0000.00%$64K-3,250 (-61.9%)
183PNC Financial Services Group, Inc.1,9450.00%$63K-1,087 (-35.9%)
184HIGHLINE WEALTH PARTNERS LLC1,4960.00%$48K—
185Farther Finance Advisors, LLC1,4660.00%$47K-2,033 (-58.1%)
186DV Trading LLC1,1550.00%$37KNEW
187Blue Trust, Inc.9230.00%$30K+900 (+3913.0%)
188US BANCORP \DE\8830.00%$28K+123 (+16.2%)
189Global Retirement Partners, LLC8410.00%$27KNEW
190Versant Capital Management, Inc6580.00%$21K+161 (+32.4%)
191NFSG Corp5500.00%$18K—
192CONSULTIVA WEALTH MANAGEMENT, CORP.5000.00%$16KNEW
193Strive Financial Group ,LLC5000.00%$16K-149 (-23.0%)
194Allworth Financial LP4740.00%$15K+303 (+177.2%)
195Federation des caisses Desjardins du Quebec4000.00%$13K—
196GAMMA Investing LLC3990.00%$13K+47 (+13.4%)
197Quarry LP3860.00%$12K+358 (+1278.6%)
198CoreCap Advisors, LLC2730.00%$9K+178 (+187.4%)
199BNP PARIBAS ASSET MANAGEMENT Holding S.A.2560.00%$8KNEW
200IMA Advisory Services, Inc.2500.00%$8KNEW
201Burnham & Co LLC2500.00%$8KNEW
202EverSource Wealth Advisors, LLC2440.00%$8K+211 (+639.4%)
203LOS ANGELES CAPITAL MANAGEMENT LLC2420.00%$8K—
204Ritter Daniher Financial Advisory LLC / DE2100.00%$7KNEW
205Sterling Capital Management LLC1820.00%$6K-493 (-73.0%)
206Elevated Capital Advisors, LLC1500.00%$5KNEW
207HAZLETT, BURT & WATSON, INC.1500.00%$5K+50 (+50.0%)
208Hurley Capital, LLC1440.00%$5K—
209Investors Research Corp1050.00%$3KNEW
210SIGNATUREFD, LLC1000.00%$3KNEW
211Costello Asset Management, INC1000.00%$3K—
212Center for Financial Planning, Inc.1000.00%$3K—
213Aventura Private Wealth, LLC1000.00%$3K-17 (-14.5%)
214Essential Partners LLC990.00%$3K+27 (+37.5%)
215Fortitude Family Office, LLC970.00%$3K+37 (+61.7%)
216MassMutual Private Wealth & Trust, FSB800.00%$3KNEW
217Private Wealth Management Group, LLC680.00%$2K—
218Washington Trust Advisors, Inc.620.00%$2KNEW
219TOTH FINANCIAL ADVISORY CORP500.00%$2K—
220BARRETT & COMPANY, INC.500.00%$2KNEW
221True Wealth Design, LLC490.00%$2K+43 (+716.7%)
222Ameritas Advisory Services, LLC410.00%$1KNEW
223Larson Financial Group LLC380.00%$1K—
224NewEdge Advisors, LLC250.00%$806NEW
225HARBOUR INVESTMENTS, INC.220.00%$710+19 (+633.3%)
226Walleye Trading LLC220.00%$710NEW
227LRI Investments, LLC210.00%$677—
228Concord Wealth Partners200.00%$645NEW
229Hilton Head Capital Partners, LLC200.00%$645—
230ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/180.00%$581—
231Basecamp Wealth Advisors LLC180.00%$581+6 (+50.0%)
232MCGUIRE CAPITAL ADVISORS INC150.00%$484—
233Bare Financial Services, Inc150.00%$484NEW
234Covestor Ltd140.00%$0+10 (+250.0%)
235Pinnacle Wealth Planning Services, Inc.140.00%$452NEW
236IFP Advisors, Inc90.00%$290NEW
237NATIONAL BANK OF CANADA /FI/90.00%$290NEW
238Frazier Financial Advisors, LLC90.00%$291NEW
239JPL Wealth Management, LLC70.00%$226NEW
240Clearstead Advisors, LLC60.00%$195NEW
241SJS Investment Consulting Inc.60.00%$194NEW
242Truvestments Capital LLC50.00%$161NEW
Exited since 2026-03-31 (45 filers; largest 25 shown)
JANUS HENDERSON GROUP PLC−1,029,203
Liberty Street Advisors, Inc.−226,748
Squarepoint Ops LLC−143,769
AYAL Capital Advisors Ltd−110,000
LMR Partners LLP−103,200
Deeter Investments LLP−100,500
Trexquant Investment LP−87,372
LAZARD ASSET MANAGEMENT LLC−86,100
Marex Group plc−83,847
Aquatic Capital Management LLC−83,522
Balyasny Asset Management L.P.−77,551
SUSQUEHANNA ADVISORS GROUP, INC.−56,828
Graham Capital Management, L.P.−55,717
SOROS FUND MANAGEMENT LLC−51,600
WOLVERINE ASSET MANAGEMENT LLC−43,000
Sculptor Capital LP−43,000
STEELHEAD PARTNERS LLC−43,000
SONA ASSET MANAGEMENT (US) LLC−43,000
Longaeva Partners L.P.−41,273
MOORE CAPITAL MANAGEMENT, LP−28,700
Portman Square Capital LLP−28,700
Polar Asset Management Partners Inc.−22,900
Jain Global LLC−20,097
IMC-Chicago, LLC−19,804
Daiwa Securities Group Inc.−17,200

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 personFormFiledEventShares% of class
Alyeska Fund GP, LLCSCHEDULE 13G/A2026-08-142026-06-30621,0241.16%
Alyeska Investment Group, L.P.SCHEDULE 13G/A2026-08-142026-06-30621,0241.16%
Anand ParekhSCHEDULE 13G/A2026-08-142026-06-30621,0241.16%
Richard MashaalSCHEDULE 13G/A2026-08-132026-06-302,965,7885.5%
Senvest Management, LLCSCHEDULE 13G/A2026-08-132026-06-302,965,7885.5%
BlackRock, Inc.SCHEDULE 13G/A2026-07-302026-06-303,238,8676.1%
BANK OF NOVA SCOTIASCHEDULE 13G2026-07-152026-06-303,560,8136.42%
Dylan TaylorSCHEDULE 13G2025-11-142025-06-306,158,25910.3%

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.