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Davis Select Financial ETF
DFNL

60 hedge funds and large institutions have $314M invested in Davis Select Financial ETF in 2026 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 22 increasing their positions, 11 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

140% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 5

100% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 11

12% more capital invested

Capital invested by funds: $280M → $314M (+$34.8M)

9% more funds holding

Funds holding: 55 → 60 (+5)

1.16% more ownership

Funds ownership: 69.43% → 70.58% (+1.2%)

Holders
60
Holders Change
+5
Holders Change %
+9.09%
% of All Funds
0.74%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
12
Increased
22
Reduced
11
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$26.7M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$6.69M
3
Truist Financial
Truist Financial
North Carolina
+$6.55M
4
WF
Willow Financial
Arkansas
+$5.54M
5
Jane Street
Jane Street
New York
+$5.45M

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$6.91M
2
AFS
Axiom Financial Strategies
Indiana
-$1.27M
3
PWM
Perigon Wealth Management
California
-$872K
4
Stifel Financial
Stifel Financial
Missouri
-$350K
5
HH
Hilltop Holdings
Texas
-$222K
Name Holding Trade Value Shares
Change 		Change in
Stake
KFI
51
Key Financial Inc
Pennsylvania
$112K – – –
Carson Wealth (CWM LLC)
52
Carson Wealth (CWM LLC)
Nebraska
$79.4K +$1.37K +29 +2%
CIAS
53
Capital Investment Advisory Services
North Carolina
$70.7K – – –
Fifth Third Bancorp
54
Fifth Third Bancorp
Ohio
$38.8K +$40.8K +866 New
SPIA
55
Steward Partners Investment Advisory
New York
$32.4K – – –
AF
56
Allworth Financial
California
$32.1K – – –
CMP
57
Coston McIsaac & Partners
Maine
$20K +$6.7K +142 +46%
PNC Financial Services Group
58
PNC Financial Services Group
Pennsylvania
$15.6K – – –
CPBTD
59
Central Pacific Bank - Trust Division
Hawaii
$3.59K – – –
Fidelity Investments
60
Fidelity Investments
Massachusetts
$1.66K – – –
Wells Fargo
61
Wells Fargo
California
$16 -$65K -1,378 Closed
AFS
62
Axiom Financial Strategies
Indiana
– -$1.27M -26,368 Closed
PWM
63
Perigon Wealth Management
California
– -$872K -18,044 Closed
LI
64
LRI Investments
Florida
– -$8.22K -170 Closed
LWM
65
Lodestone Wealth Management
Washington
– -$7.97K -165 Closed
1 2
3

DFNL Hedge Fund Activity: Q1 2026 in Review

60 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Davis Select Financial ETF (DFNL) for Q1 2026, worth a combined $314M — up 12% from $280M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new DFNL positions and 5 closed out — a net gain of 7 holders — while 22 added to existing stakes and 11 trimmed.

The largest buyer was Thrivent Financial for Lutherans, adding an estimated $26.7M. The largest seller was Morgan Stanley, cutting an estimated $6.91M.

  • 60 institutional investors held Davis Select Financial ETF (DFNL) as of Q1 2026, up from 55 in Q4 2025.
  • Funds reported $314M of Davis Select Financial ETF stock for Q1 2026, up 12% quarter-over-quarter.
  • 12 funds opened new Davis Select Financial ETF positions in Q1 2026 and 5 closed out, a net change of +7 holders.
  • The largest Davis Select Financial ETF buyer in Q1 2026 was Thrivent Financial for Lutherans, an estimated $26.7M added.
  • The largest Davis Select Financial ETF seller in Q1 2026 was Morgan Stanley, an estimated $6.91M sold.

Based on aggregated 13F filings for Q1 2026.