Vault-13

ABRDN ETFS BCI

BBRG ALL COMD K1 · ETP · CUSIP 003261104

148 institutional holders +1 vs Q1 2025
67,345,88667.3m shares reported held*
$1.4bnreported value*
23 new 48 added 48 reduced 25 sold out net bought ≈ $215.9m (+10.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($922.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $20.77. Options: 2 managers hold calls ($1.6m notional), 1 hold puts ($0).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 123Q4 22: 126Q1 23: 109Q2 23: 109Q3 23: 105Q4 23: 124Q1 24: 122Q2 24: 122Q3 24: 120Q4 24: 140Q1 25: 147Q2 25: 148148Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022123
Q4 2022126
Q1 2023109
Q2 2023109
Q3 2023105
Q4 2023124
Q1 2024122
Q2 2024122
Q3 2024120
Q4 2024140
Q1 2025147
Q2 2025148

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 53 bought or addedQ3 23: 65 cut or sold outQ4 23: 56 bought or addedQ4 23: 51 cut or sold outQ4 23Q1 24: 59 bought or addedQ1 24: 65 cut or sold outQ2 24: 51 bought or addedQ2 24: 57 cut or sold outQ2 24Q3 24: 58 bought or addedQ3 24: 48 cut or sold outQ4 24: 77 bought or addedQ4 24: 40 cut or sold outQ4 24Q1 25: 71 bought or addedQ1 25: 71 cut or sold outQ2 25: 71 bought or addedQ2 25: 73 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20235365
Q4 20235651
Q1 20245965
Q2 20245157
Q3 20245848
Q4 20247740
Q1 20257171
Q2 20257173

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $341.7kQ4 24 puts: $590.5kQ4 24P/C 1.73Q1 25 calls: $1.8mQ1 25 puts: $130.9kQ1 25P/C 0.07Q2 25 calls: $1.6mQ2 25 puts: $0Q2 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$341.7k$590.5k1.73
Q1 2025$1.8m$130.9k0.07
Q2 2025$1.6m$00.00

Biggest buyers

WELLS FARGO & COMPANY/MN Added +6,840,207+6.8m
Metis Global Partners, LLC Added +1,720,757+1.7m
ROYAL BANK OF CANADA Added +1,574,858+1.6m
MORGAN STANLEY Added +1,075,582+1.1m
BANK OF AMERICA CORP /DE/ Added +667,534+667.5k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +372,725+372.7k
NEPC LLC Added +340,344+340.3k
PRINCIPAL FINANCIAL GROUP INC New +285,250+285.2k
RAYMOND JAMES FINANCIAL INC Added +281,844+281.8k
Quadrature Capital Ltd New +207,686+207.7k

Biggest sellers

SEI INVESTMENTS CO Reduced -1,628,701-1.6m
Financial & Tax Architects, LLC Sold out -930,875-930.9k
Williams Financial, LLC Sold out -392,307-392.3k
FLOW TRADERS U.S. LLC Sold out -292,403-292.4k
Black Swift Group, LLC Sold out -120,310-120.3k
Geneos Wealth Management Inc. Reduced -120,288-120.3k
GREAT LAKES ADVISORS, LLC Reduced -97,846-97.8k
Rock Creek Group LLC Sold out -77,664-77.7k
TWIN FOCUS CAPITAL PARTNERS, LLC Sold out -66,100-66.1k
Verity Asset Management, Inc. Sold out -64,906-64.9k

Biggest calls

CITADEL ADVISORS LLC Reduced $1.6m78.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 WELLS FARGO & COMPANY/MN 0.12% of their portfolio SAN FRANCISCO, CA 25,317,91925.3m $525.9m $525.9m 0.12% Added +6.8m +6,840,207
2 SEI INVESTMENTS CO 0.19% of their portfolio OAKS, PA 7,953,3748.0m $165.2m $165.2m 0.19% Reduced -1.6m -1,628,701
3 Metis Global Partners, LLC 4.25% of their portfolio San Diego, CA 7,925,0047.9m $164.6m $164.6m 4.25% Added +1.7m +1,720,757
4 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 2,922,5662.9m $60.7m $60.7m 0.01% Added +1.6m +1,574,858
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,577,2922.6m $53.5m $53.5m 0.00% Added +667.5k +667,534
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,244,7272.2m $46.6m $46.6m 0.00% Added +1.1m +1,075,582
7 NEPC LLC 1.14% of their portfolio Boston, MA 2,175,4862.2m $45.2m $45.2m 1.14% Added +340.3k +340,344
8 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 2,018,9142.0m $41.9m $41.9m 0.03% Added +372.7k +372,725
9 GREAT LAKES ADVISORS, LLC 0.25% of their portfolio CHICAGO, IL 1,454,5711.5m $30.2m $30.2m 0.25% Reduced -97.8k -97,846
10 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.71% of their portfolio BETHESDA, MD 938,100938.1k $19.5m $19.5m 0.71% Reduced -50.0k -50,000
11 MCF Advisors LLC 1.28% of their portfolio LEXINGTON, KY 935,435935.4k $19.4m $19.4m 1.28% Added +9.6k +9,554
12 Cresset Asset Management, LLC 0.07% of their portfolio Chicago, IL 698,472698.5k $14.5m $14.5m 0.07% Added +35.1k +35,141
13 Payne Capital Management, LLC 5.28% of their portfolio New York, NY 659,556659.6k $13.7m $13.7m 5.28% Reduced -9.4k -9,395
14 Penserra Capital Management LLC 0.17% of their portfolio ORINDA, CA 598,877598.9k $12.4m $12.4m 0.17% Added +15.1k +15,133
15 Abundance Wealth Counselors 2.32% of their portfolio STATE COLLEGE, PA 595,964596.0k $12.4m $12.4m 2.32% Reduced -1.2k -1,168
16 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 486,767486.8k $10.1m $10.1m 0.01% Reduced -15.5k -15,453
17 Disciplina Capital Management LLC 1.04% of their portfolio NASHVILLE, TN 394,947394.9k $8.2m $8.2m 1.04% Added +124.8k +124,799
18 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 349,752349.8k $7.3m $7.3m 0.00% Reduced -45.2k -45,234
19 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 321,984322.0k $6.7m $6.7m 0.00% Added +281.8k +281,844
20 RS CRUM INC. 1.57% of their portfolio Newport Beach, CA 315,435315.4k $6.6m $6.6m 1.57% Added +159.0k +159,010
21 MASON STREET ADVISORS, LLC 0.74% of their portfolio MILWAUKEE, WI 304,900304.9k $6.3m $6.3m 0.74% Unchanged
22 Upper Left Wealth Management, LLC 4.11% of their portfolio TAMPA, FL 296,586296.6k $6.2m $6.2m 4.11% Added +12.8k +12,766
23 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 285,250285.2k $5.9m $5.9m 0.00% New
24 KINTRA WEALTH, LLC 3.42% of their portfolio WILLIAMSPORT, PA 273,489273.5k $5.7m $5.7m 3.42% Added +8.3k +8,259
25 Blue Trust, Inc. 0.06% of their portfolio BRENTWOOD, TN 255,394255.4k $5.3m $5.3m 0.06% Added +4.5k +4,488
26 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 254,562254.6k $5.3m $5.3m 0.01% Reduced -37.4k -37,429
27 Resonant Capital Advisors, LLC 0.32% of their portfolio Madison, WI 237,666237.7k $4.9m $4.9m 0.32% Reduced -314 -314
28 LEAVELL INVESTMENT MANAGEMENT, INC. 0.21% of their portfolio MOBILE, AL 229,861229.9k $4.8m $4.8m 0.21% Added +17.8k +17,784
29 Quadrature Capital Ltd 0.07% of their portfolio LONDON, X0 207,686207.7k $4.3m $4.3m 0.07% New
30 SigFig Wealth Management, LLC 0.13% of their portfolio SAN FRANCISCO, CA 191,010191.0k $4.0m $4.0m 0.13% Added +26.2k +26,158
31 Vise Technologies, Inc. 0.16% of their portfolio NEW YORK, NY 189,276189.3k $3.9m $3.9m 0.16% First filing
32 PITCAIRN CO 0.25% of their portfolio CONSHOHOCKEN, PA 187,136187.1k $3.9m $3.9m 0.25% Unchanged
33 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 174,950174.9k $3.6m $3.6m 0.00% New
34 AlphaStar Capital Management, LLC 0.24% of their portfolio CORNELIUS, NC 164,769164.8k $3.4m $3.4m 0.24% New
35 Plan A Wealth LLC 1.87% of their portfolio LINCOLN, NE 158,769158.8k $3.3m $3.3m 1.87% Added +96.6k +96,576
36 Aldebaran Capital, LLC 3.08% of their portfolio CARMEL, IN 150,053150.1k $3.1m $3.1m 3.08% Reduced -2.4k -2,368
37 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 149,107149.1k $3.1m $3.1m 0.01% Reduced -13.4k -13,426
38 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 147,001147.0k $3.1m $3.1m 0.00% Reduced -18.7k -18,718
39 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 144,921144.9k $3.0m $3.0m 0.00% Added +14.6k +14,600
40 AMERICAN FINANCIAL & TAX STRATEGIES INC 1.40% of their portfolio NEW YORK, NY 130,550130.6k $2.7m $2.7m 1.40% Reduced -17.5k -17,506
41 New York Life Investment Management LLC 0.02% of their portfolio New York, NY 121,072121.1k $2.5m $2.5m 0.02% New
42 Avestar Capital, LLC 0.16% of their portfolio New York, NY 103,914103.9k $2.2m $2.2m 0.16% Added +17.8k +17,842
43 Manske Wealth Management 0.65% of their portfolio HOUSTON, TX 94,35994.4k $2.0m $2.0m 0.65% Added +7.2k +7,237
44 Orion Porfolio Solutions, LLC 0.02% of their portfolio OMAHA, NE 91,92291.9k $1.9m $1.9m 0.02% Reduced -5.9k -5,925
45 Geneos Wealth Management Inc. 0.04% of their portfolio ENGLEWOOD, CO 86,20186.2k $1.8m $1.8m 0.04% Reduced -120.3k -120,288
46 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 81,52781.5k $1.7m $1.7m 0.00% Reduced -683 -683
47 K2 Financial Inc. 1.46% of their portfolio GLENDORA, CA 78,70678.7k $1.7m $1.7m 1.46% Added +4.3k +4,323
48 Advisory Services Network, LLC 0.02% of their portfolio ATLANTA, GA 64,72364.7k $1.3m $1.3m 0.02% Added +232 +232
49 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 59,30059.3k $1.2m $1.2m 0.00% New
50 Comprehensive Money Management Services LLC 0.90% of their portfolio CORAL GABLES, FL 57,21157.2k $1.2m $1.2m 0.90% Reduced -1.6k -1,633
51 Merit Financial Group, LLC 0.01% of their portfolio ALPHARETTA, GA 54,26854.3k $1.1m $1.1m 0.01% Added +14.9k +14,886
52 Ramiah Investment Group 1.20% of their portfolio BROOKFIELD, WI 53,64453.6k $1.1m $1.1m 1.20% Added +2.8k +2,840
53 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 50,57850.6k $1.1m $1.1m 0.01% Reduced -10.9k -10,942
54 Carter Financial Group, INC. 0.64% of their portfolio BARRINGTON, IL 47,38047.4k $984.1k $984.1k 0.64% First filing
55 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 46,13746.1k $958.3k $958.3k 0.00% Reduced -90 -90
56 Crossmark Global Holdings, Inc. 0.02% of their portfolio HOUSTON, TX 45,66245.7k $947.1k $947.1k 0.02% Reduced -2.2k -2,177
57 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 43,88543.9k $911.5k $911.5k 0.00% Added +12.4k +12,411
58 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 43,25443.3k $898.4k $898.4k 0.00% Added +5.2k +5,249
59 Werba Rubin Papier Wealth Management 0.17% of their portfolio SAN JOSE, CA 42,48442.5k $882.4k $882.4k 0.17% Added +5.5k +5,488
60 Boston Standard Wealth Management, LLC 0.15% of their portfolio WINCHESTER, MA 40,04740.0k $832.0k $832.0k 0.15% Added +9.1k +9,135
61 Csenge Advisory Group 0.04% of their portfolio CLEARWATER, FL 38,37938.4k $779.1k $779.1k 0.04% Added +5.1k +5,098
62 VICTORY FINANCIAL GROUP, LLC 0.13% of their portfolio AUSTIN, TX 38,29838.3k $795.4k $795.4k 0.13% Added +1.9k +1,905
63 LEUTHOLD GROUP, LLC 0.09% of their portfolio MINNEAPOLIS, MN 36,60936.6k $760.4k $760.4k 0.09% Unchanged
64 COHEN & STEERS, INC. 0.00% of their portfolio NEW YORK, NY 35,15935.2k $730.0k $730.0k 0.00% Reduced -5.1k -5,114
65 Aspen Investment Management Inc 0.30% of their portfolio GRAND RAPIDS, MI 33,88533.9k $704.0k $704.0k 0.30% Reduced -4.2k -4,202
66 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 33,15633.2k $689.0k $689.0k 0.00% Reduced -10.2k -10,200
67 Signal Advisors Wealth, LLC 0.05% of their portfolio DETROIT, MI 30,80630.8k $639.8k $639.8k 0.05% New
68 Walkner Condon Financial Advisors LLC 0.12% of their portfolio MADISON, WI 30,71330.7k $638.1k $638.1k 0.12% Reduced -6.0k -5,975
69 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 30,23630.2k $628.0k $628.0k 0.00% Added +7.9k +7,857
70 Bruce G. Allen Investments, LLC 0.47% of their portfolio DENVER, CO 30,06530.1k $624.5k $624.5k 0.47% Reduced -130 -130
71 Aristides Capital LLC 0.20% of their portfolio LOUISVILLE, KY 30,00030.0k $623.1k $623.1k 0.20% Unchanged
72 Austin Asset Management Co Inc 0.12% of their portfolio AUSTIN, TX 29,63829.6k $615.6k $615.6k 0.12% Reduced -30 -30
73 Mariner, LLC 0.00% of their portfolio Overland Park, KS 29,19129.2k $606.3k $606.3k 0.00% New
74 EXENCIAL WEALTH ADVISORS, LLC 0.02% of their portfolio OKLAHOMA CITY, OK 28,54828.5k $592.9k $592.9k 0.02% Reduced -6.6k -6,614
75 HOLLENCREST CAPITAL MANAGEMENT 0.02% of their portfolio NEWPORT BEACH, CA 28,09128.1k $583.5k $583.5k 0.02% Reduced -856 -856
76 National Philanthropic Trust 0.01% of their portfolio Jenkintown, PA 28,09128.1k $583.5k $583.5k 0.01% Reduced -856 -856
77 Perigon Wealth Management, LLC 0.01% of their portfolio SAN FRANCISCO, CA 24,49224.5k $508.7k $508.7k 0.01% Reduced -5.2k -5,214
78 CAHILL FINANCIAL ADVISORS INC 0.06% of their portfolio EDINA, MN 24,07724.1k $500.1k $500.1k 0.06% Reduced -4.2k -4,232
79 Faithward Advisors, LLC 0.07% of their portfolio LANCASTER, PA 22,97923.0k $477.3k $477.3k 0.07% Added +625 +625
80 CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC 0.09% of their portfolio BETHLEHEM, PA 22,71222.7k $471.7k $471.7k 0.09% Reduced -6.1k -6,115
81 Winthrop Capital Management, LLC 0.12% of their portfolio Carmel, IN 22,65422.7k $471.0k $471.0k 0.12% New
82 Accredited Wealth Management, LLC 0.38% of their portfolio LOUISVILLE, KY 22,47222.5k $466.7k $466.7k 0.38% New
83 Vident Advisory, LLC 0.01% of their portfolio Alpharetta, GA 22,44522.4k $466.2k $466.2k 0.01% Added +10.7k +10,704
84 Wealthspire Advisors, LLC 0.00% of their portfolio NEW YORK, NY 21,11521.1k $438.6k $438.6k 0.00% Unchanged
85 C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.03% of their portfolio Westlake, OH 21,10421.1k $438.3k $438.3k 0.03% Added +111 +111
86 Fund Evaluation Group, LLC 0.02% of their portfolio CINCINNATI, OH 20,78620.8k $431.7k $431.7k 0.02% Unchanged
87 Empower Advisory Group, LLC 0.00% of their portfolio Greenwood Village, CO 20,11520.1k $417.8k $417.8k 0.00% New
88 COMERICA BANK 0.00% of their portfolio DALLAS, TX 18,59418.6k $386.2k $386.2k 0.00% Added +6.8k +6,811
89 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 17,77017.8k $363.0k $363.0k 0.00% Reduced -141 -141
90 MBL Wealth, LLC 0.03% of their portfolio CHARLOTTE, NC 17,42417.4k $361.9k $361.9k 0.03% Reduced -1.4k -1,355
91 United Advisor Group, LLC 0.06% of their portfolio CINCINNATI, OH 16,70416.7k $346.9k $346.9k 0.06% New
92 Ancora Advisors LLC 0.01% of their portfolio Cleveland, OH 14,70014.7k $305.3k $305.3k 0.01% Unchanged
93 Compound Planning, Inc. 0.01% of their portfolio NEW YORK, NY 13,80113.8k $286.7k $286.7k 0.01% Reduced -7.5k -7,452
94 Callan Family Office, LLC 0.01% of their portfolio RADNOR, PA 13,57713.6k $282.0k $282.0k 0.01% Unchanged
95 Stewardship Advisors, LLC 0.07% of their portfolio MOUNT JOY, PA 13,43813.4k $279.1k $279.1k 0.07% Reduced -3.1k -3,077
96 Diversified Enterprises, LLC 0.02% of their portfolio Wilmington, DE 13,02813.0k $270.6k $270.6k 0.02% Reduced -2.3k -2,277
97 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 12,91712.9k $268.0k $268.0k 0.00% Added +721 +721
98 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 12,70412.7k $263.9k $263.9k 0.00% Reduced -6.6k -6,629
99 ELEVATION POINT WEALTH PARTNERS, LLC 0.02% of their portfolio DENVER, CO 12,52512.5k $260.1k $260.1k 0.02% New
100 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 11,82711.8k $245.6k $245.6k 0.00% Reduced -7.0k -6,961