USTB vs UBND overlap
USTB and UBND overlap 11.0% by weight, across 326 shared holdings.
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Top shared holdings
| Holding | USTB | UBND | Overlap |
|---|---|---|---|
| Open TEXT Corp. | 0.45% | 0.39% | 0.39% |
| Medline BorrowerMEDIND | 0.32% | 0.52% | 0.32% |
| Federal National Mortgage Association | 0.21% | 0.24% | 0.21% |
| AMUR Equipment Finance Receivables XII LLC | 0.19% | 0.40% | 0.19% |
| Ford Credit Auto Owner Trust 2022 REV1 | 0.18% | 0.24% | 0.18% |
| ESGR V5.5 01/15/42 | 0.46% | 0.17% | 0.17% |
| USB Auto Owner Trust, Series 2025-1A, Class D | 0.15% | 0.15% | 0.15% |
| AFG ABS I LLC | 0.14% | 0.17% | 0.14% |
| MSD Investment | 0.13% | 0.13% | 0.13% |
| Drvpnk 2025-1A D | 0.13% | 0.16% | 0.13% |
| Vallourec SACA | 0.34% | 0.12% | 0.12% |
| Flutter Treasury | 0.12% | 0.14% | 0.12% |
| Taylor Morrison Communities Inc. 5.75% 11/15/2032 144A | 0.12% | 0.15% | 0.12% |
| NMEF Funding 2025 B LLC | 0.11% | 0.34% | 0.11% |
| VDC 2025-1A A2 | 0.11% | 0.12% | 0.11% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: USTB, SEC Form N-PORT, June 30, 2026; UBND, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | USTB | UBND |
|---|---|---|
| Victory Capital Management Inc. | $279.9M | $499.0M |
| Merit Financial Group, LLC | $148.8M | $143.7M |
| LPL Financial LLC | $80.7M | $5.9M |
| Northwestern Mutual Wealth Management Co | $11.2M | $58.0M |
| Osaic Holdings, Inc. | $11.0M | $45.3M |
| Wells Fargo & Company | $45.6M | $8.9M |
| Raymond James Financial Inc. | $35.4M | $5.6M |
| Madison Wealth Partners, Inc | $3.4M | $37.1M |
| Envestnet Asset Management Inc. | $8.7M | $4.9M |
| Steward Partners Investment Advisory, LLC | $10.9M | $276K |
| Elk River Wealth Management LLC | $1.8M | $7.1M |
| REDW Wealth LLC | $8.0M | $231K |
| Trademark Financial Management, LLC | $6.7M | $878K |
| Clarity Asset Management, Inc. | $5.9M | $406K |
| Citadel Advisors LLC | $2.4M | $939K |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: USTB institutional holders, UBND institutional holders.
Frequently asked questions
How much do USTB and UBND overlap?
11.0% by weight, with 326 holdings in common, using holdings for USTB as of June 30, 2026 and UBND as of June 30, 2026. The largest shared position is OPEN TEXT CORP.
Do institutions hold both USTB and UBND?
26 Form 13F filers report positions in both, out of 176 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.