Norwood Financial Corp: which funds bought and sold

Institutions that bought and sold Norwood Financial 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, 62 institutions that filed 13F reports for both quarters added to or opened positions in Norwood Financial, and 29 cut or closed them. Together they sold a net 14K shares, −0.3% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 67K shares (−6.1%); index fund managers were net buyers of 181K shares (+10.6%). 12 opened a new position and 8 sold out entirely.

Bought, Q2 2026 62 institutions, 12 of them new holders Sold, Q2 2026 29 institutions, 8 of them sold out

Net change, all compared −14K shares (−0.3%)

Net change, active managers −67K shares (−6.1%), 13 bought, 4 sold

Buyers versus sellers

institutions compared, 117

62 bought 26 29 sold

Active managers and hedge funds 13 bought · 4 sold · −67K

Index fund managers 8 bought · 1 sold · +181K

Other institutions 41 bought · 24 sold · −128K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Blackrock, Inc. Index funds	+116K +17.5%	776K	$25M
Cetera Investment Advisers	+33K +53.9%	95K	$3.1M
Qube Research & Technologies Ltd Hedge fund	+27K +238.3%	38K	$1.2M
Marshall Wace, LLP Hedge fund	+25K +59.7%	66K	$2.1M
Citadel Advisors LLC Hedge fund	+25K +250.1%	34K	$1.1M
Geode Capital Management, LLC Index funds	+21K +8.7%	258K	$8.3M
Martingale Asset Management L P Active manager	+17K +132.7%	30K	$980,383
State Street Corp Index funds	+14K +10.1%	156K	$5M
Vanguard Capital Management LLC Index funds	+14K +3.2%	442K	$14.2M
AQR Capital Management LLC Hedge fund	+13K +66.0%	32K	$1M
Cambridge Investment Research Advisors, Inc.	+13K New position	13K	$406,000
Vanguard Portfolio Management LLC Index funds	+12K +20.7%	69K	$2.2M
Dimensional Fund Advisors LP	+10K +6.5%	166K	$5.3M
Walleye Capital LLC Hedge fund	+10K New position	10K	$323,333
Quadrature Capital Ltd Hedge fund	+9,903 +107.2%	19K	$615,415
Raffles Associates LP	+9,449 +75.9%	22K	$704,020
Xtx Topco Ltd	+8,618 New position	8,618	$277,069
Bailard, Inc.	+7,350 +47.8%	23K	$730,577
Signature Estate & Investment Advisors LLC	+6,741 New position	6,741	$216,723
Connor, Clark & Lunn Investment Management Ltd.	+6,641 +20.0%	40K	$1.3M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Qube Research & Technologies Ltd Hedge fund	+27K +238.3%	38K	$1.2M
Marshall Wace, LLP Hedge fund	+25K +59.7%	66K	$2.1M
Citadel Advisors LLC Hedge fund	+25K +250.1%	34K	$1.1M
Martingale Asset Management L P Active manager	+17K +132.7%	30K	$980,383
AQR Capital Management LLC Hedge fund	+13K +66.0%	32K	$1M
Walleye Capital LLC Hedge fund	+10K New position	10K	$323,333
Quadrature Capital Ltd Hedge fund	+9,903 +107.2%	19K	$615,415
Acadian Asset Management LLC Active manager	+5,166 +52.8%	15K	$475,000
Segall Bryant & Hamill, LLC Active manager	+3,869 +6.9%	60K	$1.9M
American Century Companies Inc Active manager	+1,432 +11.5%	14K	$446,692

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
UBS Group AG	−214K −89.3%	26K	$828,056
Wellington Management Group LLP Active manager	−183K −24.4%	568K	$18.2M
Emerald Mutual Fund Advisers Trust	−25K Sold out	0	—
Squarepoint Ops LLC Hedge fund	−10K −28.7%	26K	$835,964
Morgan Stanley	−9,612 −27.2%	26K	$827,669
Gateway Wealth Partners, LLC	−8,811 −50.0%	8,811	$283,274
Millennium Management LLC Hedge fund	−8,420 Sold out	0	—
Emerald Advisers, LLC	−4,500 Sold out	0	—
Larson Financial Group LLC	−4,080 Sold out	0	—
Los Angeles Capital Management LLC Active manager	−2,881 −7.8%	34K	$1.1M
Stifel Financial Corp	−2,841 −28.8%	7,028	$225,951
Commonwealth Equity Services, LLC	−2,173 −4.4%	47K	$1.5M
Vanguard Fiduciary Trust Co Index funds	−1,900 −2.8%	65K	$2.1M
Goldman Sachs Group Inc	−1,784 −5.7%	29K	$940,741
Manufacturers Life Insurance Company, The	−783 −0.4%	174K	$5.6M
Raymond James Financial Inc	−447 −0.5%	98K	$3.1M
Tower Research Capital LLC (TRC)	−445 −34.8%	833	$26,781
Peoples Financial Services Corp.	−425 −10.7%	3,555	$114,256
California State Teachers Retirement System	−403 −74.4%	139	$4,469
Advisory Services Network, LLC	−300 Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Wellington Management Group LLP Active manager	−183K −24.4%	568K	$18.2M
Squarepoint Ops LLC Hedge fund	−10K −28.7%	26K	$835,964
Millennium Management LLC Hedge fund	−8,420 Sold out	0	—
Los Angeles Capital Management LLC Active manager	−2,881 −7.8%	34K	$1.1M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Cambridge Investment Research Advisors, Inc.	13K	$406,000
Walleye Capital LLCHedge fund	10K	$323,333
Xtx Topco Ltd	8,618	$277,069
Signature Estate & Investment Advisors LLC	6,741	$216,723
Wealth Enhancement Advisory Services, LLC	6,624	$205,874
Arax Advisory Partners	799	$25,688
Steward Partners Investment Advisory, LLC	551	$17,702
Integrated Wealth Concepts LLC	223	$7,166
Covestor Ltd	33	$1,000
Farther Finance Advisors, LLC	6	$193

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Emerald Mutual Fund Advisers Trust	25K	$735,500
Millennium Management LLCHedge fund	8,420	$247,716
Emerald Advisers, LLC	4,500	$132,390
Larson Financial Group LLC	4,080	$120,044
Advisory Services Network, LLC	300	$8,826
Mai Capital Management	35	$1,030
Root Financial Partners, LLC	5	$147
Wealth Preservation Advisors, LLC	2	$59

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 111
Ten largest holders: 67.2%
Index fund managers: 42.7%
Active managers and hedge funds: 23.3%

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	13	4	1	1	−67K	−6.1%
Index fund managers	8	1	0	0	+181K	+10.6%
Other institutions	41	24	11	7	−128K	−7.8%

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 Norwood Financial.

Only managers that filed a holdings report for both quarters are compared (117 here). 4 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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