Bank First Corp: which funds bought and sold

Institutions that bought and sold Bank First shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 97 institutions that filed 13F reports for both quarters added to or opened positions in Bank First, and 44 cut or closed them. Together they added a net 296K shares, +7.7% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 4,716 shares (+2.5%); index fund managers were net buyers of 177K shares (+7.8%). 32 opened a new position and 10 sold out entirely.

Bought, Q2 2026 97 institutions, 32 of them new holders Sold, Q2 2026 44 institutions, 10 of them sold out

Net change, all compared +296K shares (+7.7%)

Net change, active managers +4,716 shares (+2.5%), 12 bought, 7 sold

Buyers versus sellers

institutions compared, 176

97 bought 35 44 sold

Active managers and hedge funds 12 bought · 7 sold · +4,716

Index fund managers 9 bought · 2 sold · +177K

Other institutions 76 bought · 35 sold · +114K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
State Street Corp Index funds	+89K +25.5%	437K	$65.1M
Blackrock, Inc. Index funds	+59K +7.8%	821K	$122M
J.W. Cole Advisors, Inc.	+52K New position	52K	$7.8M
Marshall Wace, LLP Hedge fund	+43K +870.1%	48K	$7.1M
Dimensional Fund Advisors LP	+28K +17.5%	188K	$27.8M
Harbour Investments, Inc.	+17K New position	17K	$2.5M
Geode Capital Management, LLC Index funds	+14K +5.1%	296K	$44M
Exoduspoint Capital Management, LP Hedge fund	+12K New position	12K	$1.8M
Xtx Topco Ltd	+12K New position	12K	$1.7M
Vanguard Portfolio Management LLC Index funds	+11K +7.8%	147K	$21.7M
N.E.W. Advisory Services LLC	+10K +170.4%	16K	$2.4M
Focus Partners Wealth	+8,520 New position	8,520	$1.3M
Annex Advisory Services, LLC	+7,492 New position	7,492	$1.1M
Quantinno Capital Management LP	+6,252 +40.5%	22K	$3.2M
Wealth Enhancement Advisory Services, LLC	+5,787 +165.9%	9,276	$1.4M
AQR Capital Management LLC Hedge fund	+5,681 +45.5%	18K	$2.7M
Northern Trust Corp Index funds	+5,680 +5.8%	104K	$15.4M
BNP Paribas Financial Markets	+5,533 +38.7%	20K	$2.9M
Baird Financial Group, Inc.	+5,500 New position	5,500	$815,925
Wells Fargo & Company	+4,936 +120.4%	9,034	$1.3M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Marshall Wace, LLP Hedge fund	+43K +870.1%	48K	$7.1M
Exoduspoint Capital Management, LP Hedge fund	+12K New position	12K	$1.8M
AQR Capital Management LLC Hedge fund	+5,681 +45.5%	18K	$2.7M
Quantbot Technologies LP Hedge fund	+4,310 New position	4,310	$639,389
Fisher Asset Management, LLC Active manager	+3,136 +33.6%	12K	$1.8M
Squarepoint Ops LLC Hedge fund	+2,861 New position	2,861	$424,429
Alliancebernstein L.P. Active manager	+2,540 +25.6%	12K	$1.7M
Jain Global LLC Hedge fund	+1,947 New position	1,947	$288,837
Engineers Gate Manager LP Hedge fund	+1,538 New position	1,538	$228,162
Price T Rowe Associates Inc Active manager	+1,286 +17.5%	8,624	$1.3M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Wealthcare Advisory Partners LLC	−37K Sold out	0	—
Two Sigma Investments, LP Hedge fund	−29K −80.7%	6,896	$1M
Raymond James Financial Inc	−19K −88.3%	2,470	$366,425
Qube Research & Technologies Ltd Hedge fund	−17K Sold out	0	—
Renaissance Technologies LLC Hedge fund	−14K −40.5%	20K	$3M
Susquehanna International Group, LLP	−12K −61.4%	7,376	$1.1M
Citadel Advisors LLC Hedge fund	−10K −54.3%	8,752	$1.3M
UBS Group AG	−9,826 −43.2%	13K	$1.9M
Asset Management One Co., Ltd.	−5,568 Sold out	0	—
Vanguard Capital Management LLC Index funds	−5,563 −1.2%	465K	$69M
Bank Of America Corp	−3,990 −23.3%	13K	$1.9M
Goldman Sachs Group Inc	−3,806 −10.1%	34K	$5M
Jpmorgan Chase & Co	−3,242 −38.5%	5,186	$766,544
Linden Thomas Advisory Services, LLC	−3,053 −17.4%	14K	$2.1M
Quadrature Capital Ltd Hedge fund	−2,724 Sold out	0	—
Merit Financial Group, LLC	−2,681 −1.5%	174K	$25.8M
First Trust Advisors LP	−2,431 −3.3%	71K	$10.5M
Balyasny Asset Management L.P. Hedge fund	−2,136 Sold out	0	—
Universal- Beteiligungs- Und Servicegesellschaft Mbh	−2,053 −51.1%	1,966	$291,656
Tidal Investments LLC	−1,847 Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Two Sigma Investments, LP Hedge fund	−29K −80.7%	6,896	$1M
Qube Research & Technologies Ltd Hedge fund	−17K Sold out	0	—
Renaissance Technologies LLC Hedge fund	−14K −40.5%	20K	$3M
Citadel Advisors LLC Hedge fund	−10K −54.3%	8,752	$1.3M
Quadrature Capital Ltd Hedge fund	−2,724 Sold out	0	—
Balyasny Asset Management L.P. Hedge fund	−2,136 Sold out	0	—
Intech Investment Management LLC Active manager	−121 −5.3%	2,173	$322,365

New positions

largest by value

Institution	Shares	Value June 30, 2026
J.W. Cole Advisors, Inc.	52K	$7.8M
Harbour Investments, Inc.	17K	$2.5M
Exoduspoint Capital Management, LPHedge fund	12K	$1.8M
Xtx Topco Ltd	12K	$1.7M
Focus Partners Wealth	8,520	$1.3M
Annex Advisory Services, LLC	7,492	$1.1M
Baird Financial Group, Inc.	5,500	$815,925
Form Wealth Advisors, LLC	4,600	$682,410
Y-Intercept (Hong Kong) Ltd	4,430	$657,190
Quantbot Technologies LPHedge fund	4,310	$639,389

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Wealthcare Advisory Partners LLC	37K	$5M
Qube Research & Technologies LtdHedge fund	17K	$2.3M
Asset Management One Co., Ltd.	5,568	$752,014
Quadrature Capital LtdHedge fund	2,724	$367,903
Balyasny Asset Management L.P.Hedge fund	2,136	$288,488
Tidal Investments LLC	1,847	$249,456
Gateway Wealth Partners, LLC	1,580	$213,395
Swiss Life Asset Management Ltd	1,513	$204,346
Ballast Advisors LLC	1,138	$153,698
Quadrant Capital Group LLC	25	$3,377

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 168
Ten largest holders: 67.6%
Index fund managers: 58.6%
Active managers and hedge funds: 4.6%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	12	7	5	3	+4,716	+2.5%
Index fund managers	9	2	0	0	+177K	+7.8%
Other institutions	76	35	27	7	+114K	+8.3%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Bank First.

Only managers that filed a holdings report for both quarters are compared (176 here). 6 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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