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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F Institutional Ownership · TOPS

Top Ships Inc NYSE MKT LLC:TOPS

Institutional holders, quarter-over-quarter share deltas, and new and closed positions disclosed in Form 13F. Period 2025-12-31 · prior 2025-09-30.

0 new4 added7 reduced1 exited

Added To(4)

ManagerSharesΔ SharesValueΔ Value% Δ
CITADEL ADVISORS LLC23,572+11,959$106.3K+$37.9K103.0%
DIMENSIONAL FUND ADVISORS LP18,325+1,656$82.7K-$15.5K9.9%
UBS Group AG685+673$3.1K+$3.0K5608.3%
Royal Bank of Canada3+1$0$050.0%

Reduced(7)

ManagerSharesΔ SharesValueΔ Value% Δ
MORGAN STANLEY14,500-2,200$65.4K-$33.0K-13.2%
Cetera Investment Advisers13,126-2,053$59.2K-$30.2K-13.5%
Tower Research Capital LLC (TRC)223-834$1.0K-$5.2K-78.9%
Federation des caisses Desjardins du Quebec4-700$18-$4.1K-99.4%
CITIGROUP INC1-9$5-$54-90.0%
ADVISOR GROUP HOLDINGS, INC.40$18-$60.0%
JPMORGAN CHASE & CO20$9-$30.0%

Sold Out(1)

ManagerSharesΔ SharesValueΔ Value% Δ
ASSETMARK, INC0-5$0-$29

Top Holders by reported value

Ranked by the dollar value reported on the latest Form 13F. Share counts reflect long positions as of 2025-12-31.

ManagerShares$ ValueΔ SharesQoQ %
CITADEL ADVISORS LLC23,572$106.3K+11,959103.0%
DIMENSIONAL FUND ADVISORS LP18,325$82.7K+1,6569.9%
MORGAN STANLEY14,500$65.4K-2,200-13.2%
Cetera Investment Advisers13,126$59.2K-2,053-13.5%
UBS Group AG685$3.1K+6735608.3%
Tower Research Capital LLC (TRC)223$1.0K-834-78.9%
ADVISOR GROUP HOLDINGS, INC.4$1800.0%
Federation des caisses Desjardins du Quebec4$18-700-99.4%
JPMORGAN CHASE & CO2$900.0%
CITIGROUP INC1$5-9-90.0%
Royal Bank of Canada3$0+150.0%

New & Closed Positions this quarter

New Positions
0 managers initiated
Top five by reported value

No new institutional positions this quarter.

Closed Positions
1 managers exited
Top five by prior-quarter value

Methodology

Form 13F is the SEC's quarterly disclosure for institutional investment managers exercising discretion over $100 million or more in qualifying U.S. equity securities. Managers must file within 45 days of each calendar quarter end, which is why holdings shown here reflect a snapshot at the period date — not real-time positioning.

Quarter-over-quarter deltas compare each manager's most recently reported share count for TOPS against its prior-quarter count. New positions are entries where the prior count was zero; closed positions are entries where the current count is zero. Amendments (13F-HR/A) replace prior filings for the same period.

Source: SEC EDGAR Form 13F (XML information tables). Dollar values are as reported by the manager and may use mid-quarter pricing conventions. CUSIP-to-ticker resolution is best-effort.