Ranked by reported Q2 2026 13F market value
Share of total reported institutional value in LEO held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | Saba Capital Management, L.P. | 6.1M | $39.3M | 0.0% | 9.756% | 1.01% |
| 2 | Pathstone Holdings, LLC | 3.5M | $22.5M | -6.9% | 5.598% | 0.07% |
| 3 | RIVERNORTH CAPITAL MANAGEMENT, LLC | 2.0M | $13.0M | +1.1% | 3.221% | 0.62% |
| 4 | Bulldog Investors, LLP | 1.5M | $9.8M | -4.2% | 2.424% | 2.15% |
| 5 | GUGGENHEIM CAPITAL LLC | 1.4M | $8.7M | +4.4% | 2.169% | 0.05% |
| 6 | WELLS FARGO & COMPANY/MN | 1.1M | $7.3M | +13.0% | 1.818% | 0.00% |
| 7 | ROBINSON CAPITAL MANAGEMENT, LLC | 877K | $5.7M | 0.0% | 1.408% | 2.50% |
| 8 | VAN ECK ASSOCIATES CORP | 538K | $3.5M | -7.3% | 0.863% | 0.00% |
| 9 | Allspring Global Investments Holdings, LLC | 528K | $3.4M | 0.0% | 0.847% | 0.01% |
| 10 | Altium Capital Management LLC | 439K | $2.8M | 0.0% | 0.704% | 5.97% |
| 11 | Gridiron Partners, LLC | 405K | $2.6M | +18.8% | 0.650% | 1.37% |
| 12 | CAPSTONE INVESTMENT ADVISORS, LLC | 380K | $2.5M | 0.0% | 0.610% | 0.00% |
| 13 | Capital Investment Advisors, LLC | 370K | $2.4M | -2.5% | 0.594% | 0.03% |
| 14 | Invesco Ltd. | 317K | $2.1M | +27.7% | 0.509% | 0.00% |
| 15 | CITY OF LONDON INVESTMENT MANAGEMENT CO LTD | 271K | $1.7M | 0.0% | 0.435% | 0.11% |
| 16 | MORGAN STANLEY | 252K | $1.6M | -9.7% | 0.405% | 0.00% |
| 17 | Fiera Capital Corp | 247K | $1.6M | +45.0% | 0.396% | 0.01% |
| 18 | ENVESTNET ASSET MANAGEMENT INC | 221K | $1.4M | -2.3% | 0.354% | 0.00% |
| 19 | Professional Financial Management, Inc. | 207K | $1.3M | -5.6% | 0.333% | 1.36% |
| 20 | 1607 Capital Partners, LLC | 206K | $1.3M | 0.0% | 0.331% | 0.04% |
| 21 | &PARTNERS | 181K | $1.2M | +14.8% | 0.290% | 0.00% |
| 22 | RAYMOND JAMES FINANCIAL INC | 169K | $1.1M | +11.1% | 0.271% | 0.00% |
| 23 | LPL Financial LLC | 163K | $1.1M | +0.9% | 0.261% | 0.00% |
| 24 | RIVERBRIDGE PARTNERS LLC | 138K | $892K | -61.5% | 0.222% | 0.02% |
| 25 | TORONTO DOMINION BANK | 135K | $870K | +10.7% | 0.216% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in LEO — a direct measure of their conviction.
Filings activity in LEO during Q2 2026, grouped by how each filer changed its position.
Institutions that opened a new LEO position in Q2 2026
Institutions that fully closed their LEO position in Q2 2026
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q2 2026 | 100 | +5.3% | 43.10% | 0.39 pp | $154M | +2.3% |
| Q1 2026 | 95 | 4.0% | 43.49% | +0.59 pp | $150M | 2.9% |
| Q4 2025 | 99 | +4.2% | 42.90% | +0.83 pp | $155M | +9.5% |
| Q3 2025 | 95 | +0.0% | 42.07% | +4.57 pp | $141M | +11% |
| Q2 2025 | 95 | +10% | 37.50% | +2.35 pp | $128M | +3.2% |
| Q1 2025 | 86 | 15% | 35.15% | 57.50 pp | $124M | 65% |
| Q4 2024 | 101 | +16% | 92.65% | +63.19 pp | $349M | +215% |
| Q3 2024 | 87 | — | 29.46% | — | $111M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying LEO stock.
Based on Q2 2026 13F filings, institutional ownership of BNY Mellon Strategic Municipals, Inc. stands at 43.1%, held across 100 reporting institutions.
Saba Capital Management, L.P. is the largest reported institutional holder of LEO, with approximately 6,076,820 shares worth $0.04B as of Q2 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of LEO.
Our composite Smart Money Score for LEO is 35 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
15 institutions opened new positions in LEO during Q2 2026, while 10 fully exited. 65 added to existing positions and 17 trimmed.
LEO institutional ownership fell by 0.39 percentage points quarter-over-quarter, with a net change of +5 holders.
The top 10 institutions account for 75.4% of all reported 13F value in LEO, and the top 25 account for 90.8%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
BNY Mellon Strategic Municipals, Inc. (LEO) Institutional Ownership