Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in REFR held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | We Are One Seven, LLC | 918K | $828K | -0.2% | 2.633% | 0.02% |
| 2 | BlackRock, Inc. | 608K | $560K | +0.5% | 1.745% | 0.00% |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 568K | $512K | β | 1.629% | 0.00% |
| 4 | Focus Partners Wealth | 496K | $457K | 0.0% | 1.424% | 0.00% |
| 5 | GEODE CAPITAL MANAGEMENT, LLC | 303K | $273K | -2.7% | 0.868% | 0.00% |
| 6 | VANGUARD FIDUCIARY TRUST CO | 177K | $160K | β | 0.508% | 0.00% |
| 7 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 172K | $155K | +23.9% | 0.493% | 0.00% |
| 8 | STATE STREET CORP | 106K | $95K | 0.0% | 0.303% | 0.00% |
| 9 | SHUFRO ROSE & CO LLC | 98K | $90K | 0.0% | 0.280% | 0.01% |
| 10 | RENAISSANCE TECHNOLOGIES LLC | 68K | $63K | -12.8% | 0.196% | 0.00% |
| 11 | NORTHERN TRUST CORP | 53K | $48K | 0.0% | 0.151% | 0.00% |
| 12 | Kingsview Wealth Management, LLC | 45K | $41K | -56.4% | 0.129% | 0.00% |
| 13 | XTX Topco Ltd | 33K | $30K | +56.6% | 0.095% | 0.00% |
| 14 | FreeGulliver LLC | 20K | $18K | 0.0% | 0.057% | 0.01% |
| 15 | HM PAYSON & CO | 20K | $18K | 0.0% | 0.057% | 0.00% |
| 16 | GOLDMAN SACHS GROUP INC | 19K | $17K | β | 0.053% | 0.00% |
| 17 | RAYMOND JAMES FINANCIAL INC | 18K | $16K | -58.4% | 0.051% | 0.00% |
| 18 | TWO SIGMA SECURITIES, LLC | 16K | $15K | -30.9% | 0.045% | 0.00% |
| 19 | MERCER GLOBAL ADVISORS INC /ADV | 14K | $13K | 0.0% | 0.040% | 0.00% |
| 20 | Focus Partners Advisor Solutions, LLC | 14K | $13K | β | 0.040% | 0.00% |
| 21 | Schonfeld Strategic Advisors LLC | 14K | $13K | +0.1% | 0.040% | 0.00% |
| 22 | JANE STREET GROUP, LLC | 12K | $11K | -23.3% | 0.033% | 0.00% |
| 23 | Vanguard Global Advisers, LLC | 11K | $10K | β | 0.032% | 0.00% |
| 24 | Farrell Financial LLC | 10K | $9K | β | 0.030% | 0.01% |
| 25 | HB Wealth Management, LLC | 10K | $9K | 0.0% | 0.029% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in REFR β a direct measure of their conviction.
Filings activity in REFR during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new REFR position in Q1 2026
Institutions that fully closed their REFR position in Q1 2026
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 34 | 2.9% | 14.10% | 9.07 pp | $3M | 39% |
| Q4 2025 | 35 | +17% | 23.17% | 3.67 pp | $6M | 14% |
| Q3 2025 | 30 | +3.4% | 26.84% | +4.72 pp | $7M | +21% |
| Q2 2025 | 29 | 9.4% | 22.12% | +6.08 pp | $5M | +38% |
| Q1 2025 | 32 | +3.2% | 16.04% | 12.41 pp | $4M | 44% |
| Q4 2024 | 31 | +0.0% | 28.45% | +0.29 pp | $7M | +1.0% |
| Q3 2024 | 31 | +0.0% | 28.16% | +7.76 pp | $7M | +38% |
| Q2 2024 | 31 | β | 20.40% | β | $5M | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying REFR stock.
Based on Q1 2026 13F filings, institutional ownership of Research Frontiers Incorporated stands at 14.1%, held across 34 reporting institutions.
We Are One Seven, LLC is the largest reported institutional holder of REFR, with approximately 918,182 shares worth $0.00B as of Q1 2026.
Yes β 4 widely-followed marquee investors appear among the top 25 institutional holders of REFR, including SUSQUEHANNA INTERNATIONAL GROUP, LLP, RENAISSANCE TECHNOLOGIES LLC, TWO SIGMA SECURITIES, LLC, JANE STREET GROUP, LLC.
Our composite Smart Money Score for REFR is 46 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
9 institutions opened new positions in REFR during Q1 2026, while 10 fully exited. 3 added to existing positions and 22 trimmed.
REFR institutional ownership fell by 9.07 percentage points quarter-over-quarter, with a net change of -1 holders.
The top 10 institutions account for 91.5% of all reported 13F value in REFR, and the top 25 account for 99.5%.
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.
Research Frontiers Incorporated (REFR) Institutional Ownership