Vault-13

ABRDN ETFS BCI

BBRG ALL COMD K1 · ETP · CUSIP 003261104

154 institutional holders +6 vs Q2 2025
71,787,55271.8m shares reported held*
$1.5bnreported value*
26 new 57 added 44 reduced 18 sold out net bought ≈ $90.1m (+4.2m 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 ($1.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $21.55. Options: 1 managers hold calls ($213.2k notional), 0 hold puts (—).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 123Q4 22: 126Q1 23: 109Q2 23: 109Q3 23: 105Q4 23: 124Q1 24: 122Q2 24: 122Q3 24: 120Q4 24: 140Q1 25: 147Q2 25: 148Q3 25: 154154Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025154

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 23: 56 bought or addedQ4 23: 51 cut or sold outQ1 24: 59 bought or addedQ1 24: 65 cut or sold outQ1 24Q2 24: 51 bought or addedQ2 24: 57 cut or sold outQ3 24: 58 bought or addedQ3 24: 48 cut or sold outQ3 24Q4 24: 77 bought or addedQ4 24: 40 cut or sold outQ1 25: 71 bought or addedQ1 25: 71 cut or sold outQ1 25Q2 25: 71 bought or addedQ2 25: 73 cut or sold outQ3 25: 83 bought or addedQ3 25: 62 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20235651
Q1 20245965
Q2 20245157
Q3 20245848
Q4 20247740
Q1 20257171
Q2 20257173
Q3 20258362

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5m$2mQ4 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 0.00Q3 25 calls: $213.2kQ3 25 puts: $0Q3 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q4 2024$341.7k$590.5k1.73
Q1 2025$1.8m$130.9k0.07
Q2 2025$1.6m$00.00
Q3 2025$213.2k$00.00

Biggest buyers

Metis Global Partners, LLC Added +3,213,136+3.2m
Financial & Tax Architects, LLC New +959,266+959.3k
Abundance Wealth Counselors Added +917,907+917.9k
JANE STREET GROUP, LLC New +825,366+825.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +587,790+587.8k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +407,858+407.9k
Beacon Pointe Advisors, LLC New +311,121+311.1k
SEI INVESTMENTS CO Added +264,840+264.8k
BANK OF AMERICA CORP /DE/ Added +204,192+204.2k
Apella Capital, LLC New +195,133+195.1k

Biggest sellers

GREAT LAKES ADVISORS, LLC Sold out -1,454,571-1.5m
ROYAL BANK OF CANADA Reduced -1,370,533-1.4m
WELLS FARGO & COMPANY/MN Reduced -1,133,944-1.1m
RAYMOND JAMES FINANCIAL INC Reduced -256,691-256.7k
Quadrature Capital Ltd Sold out -207,686-207.7k
NEPC LLC Reduced -193,646-193.6k
AlphaStar Capital Management, LLC Sold out -164,769-164.8k
Vise Technologies, Inc. Reduced -69,735-69.7k
Geneos Wealth Management Inc. Reduced -68,737-68.7k
PITCAIRN CO Reduced -59,635-59.6k

Biggest calls

CITADEL ADVISORS LLC Reduced $213.2k9.9k shares

Biggest puts

None

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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 WELLS FARGO & COMPANY/MN 0.11% of their portfolio SAN FRANCISCO, CA 24,183,97524.2m $520.9m $520.9m 0.11% Reduced -1.1m -1,133,944
2 Metis Global Partners, LLC 5.65% of their portfolio San Diego, CA 11,138,14011.1m $239.9m $239.9m 5.65% Added +3.2m +3,213,136
3 SEI INVESTMENTS CO 0.19% of their portfolio OAKS, PA 8,218,2148.2m $177.0m $177.0m 0.19% Added +264.8k +264,840
4 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,781,4842.8m $59.9m $59.9m 0.00% Added +204.2k +204,192
5 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 2,426,7722.4m $52.3m $52.3m 0.03% Added +407.9k +407,858
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,330,9212.3m $50.2m $50.2m 0.00% Added +86.2k +86,194
7 NEPC LLC 1.12% of their portfolio Boston, MA 1,981,8402.0m $42.7m $42.7m 1.12% Reduced -193.6k -193,646
8 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,552,0331.6m $33.4m $33.4m 0.01% Reduced -1.4m -1,370,533
9 Abundance Wealth Counselors 5.59% of their portfolio STATE COLLEGE, PA 1,513,8711.5m $32.6m $32.6m 5.59% Added +917.9k +917,907
10 MCF Advisors LLC 1.31% of their portfolio LEXINGTON, KY 992,837992.8k $21.4m $21.4m 1.31% Added +57.4k +57,402
11 Financial & Tax Architects, LLC 4.56% of their portfolio ST LOUIS, MO 959,266959.3k $20.7m $20.7m 4.56% New
12 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.74% of their portfolio BETHESDA, MD 938,100938.1k $20.2m $20.2m 0.74% Unchanged
13 Cresset Asset Management, LLC 0.08% of their portfolio Chicago, IL 853,066853.1k $18.4m $18.4m 0.08% Added +154.6k +154,594
14 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 825,366825.4k $17.8m $17.8m 0.02% New
15 Penserra Capital Management LLC 0.19% of their portfolio ORINDA, CA 746,269746.3k $16.1m $16.1m 0.19% Added +147.4k +147,392
16 Payne Capital Management, LLC 5.14% of their portfolio New York, NY 741,067741.1k $16.0m $16.0m 5.14% Added +81.5k +81,511
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 587,790587.8k $12.7m $12.7m 0.02% New
18 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 505,030505.0k $10.9m $10.9m 0.01% Added +18.3k +18,263
19 MASON STREET ADVISORS, LLC 0.89% of their portfolio MILWAUKEE, WI 399,645399.6k $8.6m $8.6m 0.89% Added +94.7k +94,745
20 Disciplina Capital Management LLC 1.03% of their portfolio NASHVILLE, TN 391,319391.3k $8.4m $8.4m 1.03% Reduced -3.6k -3,628
21 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 367,915367.9k $7.9m $7.9m 0.00% Added +18.2k +18,163
22 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 347,650347.6k $7.5m $7.5m 0.00% Added +62.4k +62,400
23 RS CRUM INC. 1.59% of their portfolio Newport Beach, CA 331,815331.8k $7.1m $7.1m 1.59% Added +16.4k +16,380
24 Beacon Pointe Advisors, LLC 0.06% of their portfolio NEWPORT BEACH, CA 311,121311.1k $6.7m $6.7m 0.06% New
25 Upper Left Wealth Management, LLC 4.08% of their portfolio TAMPA, FL 301,849301.8k $6.5m $6.5m 4.08% Added +5.3k +5,263
26 Investment Research Partners LLC 2.92% of their portfolio LEMONT, PA 296,882296.9k $6.5m $6.5m 2.92% First filing
27 KINTRA WEALTH, LLC 3.36% of their portfolio WILLIAMSPORT, PA 276,992277.0k $6.0m $6.0m 3.36% Added +3.5k +3,503
28 Blue Trust, Inc. 0.07% of their portfolio BRENTWOOD, TN 273,514273.5k $5.9m $5.9m 0.07% Added +18.1k +18,120
29 LEAVELL INVESTMENT MANAGEMENT, INC. 0.24% of their portfolio MOBILE, AL 265,878265.9k $5.7m $5.7m 0.24% Added +36.0k +36,017
30 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 246,044246.0k $5.3m $5.3m 0.01% Reduced -8.5k -8,518
31 New York Life Investment Management LLC 0.05% of their portfolio New York, NY 238,827238.8k $5.1m $5.1m 0.05% Added +117.8k +117,755
32 Resonant Capital Advisors, LLC 0.29% of their portfolio Madison, WI 234,607234.6k $5.1m $5.1m 0.29% Reduced -3.1k -3,059
33 Apella Capital, LLC 0.10% of their portfolio WEST HARTFORD, CT 195,133195.1k $4.3m $4.3m 0.10% New
34 SigFig Wealth Management, LLC 0.13% of their portfolio SAN FRANCISCO, CA 190,767190.8k $4.1m $4.1m 0.13% Reduced -243 -243
35 Plan A Wealth LLC 2.07% of their portfolio LINCOLN, NE 189,001189.0k $4.1m $4.1m 2.07% Added +30.2k +30,232
36 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 174,950174.9k $3.8m $3.8m 0.00% Unchanged
37 Avestar Capital, LLC 0.24% of their portfolio New York, NY 157,213157.2k $3.4m $3.4m 0.24% Added +53.3k +53,299
38 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 155,930155.9k $3.4m $3.4m 0.00% Added +11.0k +11,009
39 Aldebaran Capital, LLC 2.95% of their portfolio CARMEL, IN 149,075149.1k $3.2m $3.2m 2.95% Reduced -978 -978
40 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 148,594148.6k $3.3m $3.3m 0.00% Reduced -513 -513
41 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 142,654142.7k $3.1m $3.1m 0.00% Reduced -4.3k -4,347
42 Empowered Funds, LLC 0.03% of their portfolio NEWTOWN SQUARE, PA 131,642131.6k $2.8m $2.8m 0.03% New
43 AMERICAN FINANCIAL & TAX STRATEGIES INC 1.37% of their portfolio NEW YORK, NY 127,795127.8k $2.8m $2.8m 1.37% Reduced -2.8k -2,755
44 PITCAIRN CO 0.22% of their portfolio CONSHOHOCKEN, PA 127,501127.5k $2.7m $2.7m 0.22% Reduced -59.6k -59,635
45 Vise Technologies, Inc. 0.10% of their portfolio NEW YORK, NY 119,541119.5k $2.6m $2.6m 0.10% Reduced -69.7k -69,735
46 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 103,585103.6k $2.2m $2.2m 0.00% Added +22.1k +22,058
47 Manske Wealth Management 0.61% of their portfolio HOUSTON, TX 92,63392.6k $2.0m $2.0m 0.61% Reduced -1.7k -1,726
48 Compass Financial Group, Inc. 0.85% of their portfolio DEERFIELD BEACH, FL 87,81287.8k $1.9m $1.9m 0.85% New
49 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 83,83583.8k $1.8m $1.8m 0.01% Reduced -8.1k -8,087
50 K2 Financial Inc. 1.43% of their portfolio GLENDORA, CA 82,01882.0k $1.8m $1.8m 1.43% Added +3.3k +3,312
51 ELEVATION POINT WEALTH PARTNERS, LLC 0.11% of their portfolio DENVER, CO 75,33675.3k $1.6m $1.6m 0.11% Added +62.8k +62,811
52 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 65,29365.3k $1.4m $1.4m 0.00% Reduced -256.7k -256,691
53 Ramiah Investment Group 1.24% of their portfolio BROOKFIELD, WI 64,89564.9k $1.4m $1.4m 1.24% Added +11.3k +11,251
54 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 63,61863.6k $1.4m $1.4m 0.00% Added +17.5k +17,481
55 Comprehensive Money Management Services LLC 0.91% of their portfolio CORAL GABLES, FL 59,37659.4k $1.3m $1.3m 0.91% Added +2.2k +2,165
56 Merit Financial Group, LLC 0.01% of their portfolio ALPHARETTA, GA 54,10154.1k $1.2m $1.2m 0.01% Reduced -167 -167
57 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 52,43552.4k $1.1m $1.1m 0.01% Added +1.9k +1,857
58 NewEdge Wealth, LLC 0.02% of their portfolio STAMFORD, CT 51,01251.0k $1.1m $1.1m 0.02% New
59 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 47,18847.2k $1.0m $1.0m 0.01% Reduced -17.5k -17,535
60 Crossmark Global Holdings, Inc. 0.01% of their portfolio HOUSTON, TX 44,61544.6k $958.6k $958.6k 0.01% Reduced -1.0k -1,047
61 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 44,48044.5k $958.1k $958.1k 0.00% Added +595 +595
62 Csenge Advisory Group 0.04% of their portfolio CLEARWATER, FL 41,88441.9k $902.2k $902.2k 0.04% Added +3.5k +3,505
63 Boston Standard Wealth Management, LLC 0.15% of their portfolio WINCHESTER, MA 40,04740.0k $863.0k $863.0k 0.15% Unchanged
64 Vident Advisory, LLC 0.01% of their portfolio Alpharetta, GA 39,60339.6k $853.0k $853.0k 0.01% Added +17.2k +17,158
65 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 39,25639.3k $845.6k $845.6k 0.00% New
66 CreativeOne Wealth, LLC 0.02% of their portfolio OVERLAND PARK, KS 37,78237.8k $813.8k $813.8k 0.02% New
67 LEUTHOLD GROUP, LLC 0.09% of their portfolio MINNEAPOLIS, MN 36,59036.6k $788.1k $788.1k 0.09% Reduced -19 -19
68 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 34,57834.6k $745.0k $745.0k 0.00% Added +21.7k +21,661
69 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 34,04134.0k $733.2k $733.2k 0.00% Added +3.8k +3,805
70 Aspen Investment Management Inc 0.27% of their portfolio GRAND RAPIDS, MI 32,92132.9k $709.0k $709.0k 0.27% Reduced -964 -964
71 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 32,92132.9k $712.7k $712.7k 0.00% New
72 Austin Asset Management Co Inc 0.12% of their portfolio AUSTIN, TX 31,43331.4k $677.1k $677.1k 0.12% Added +1.8k +1,795
73 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 31,28331.3k $674.0k $674.0k 0.00% Reduced -1.9k -1,873
74 EXENCIAL WEALTH ADVISORS, LLC 0.02% of their portfolio OKLAHOMA CITY, OK 30,78430.8k $663.1k $663.1k 0.02% Added +2.2k +2,236
75 Walkner Condon Financial Advisors LLC 0.10% of their portfolio MADISON, WI 30,51330.5k $653.9k $653.9k 0.10% Reduced -200 -200
76 Mariner, LLC 0.00% of their portfolio Overland Park, KS 29,64029.6k $638.4k $638.4k 0.00% Added +449 +449
77 COHEN & STEERS, INC. 0.00% of their portfolio NEW YORK, NY 28,89028.9k $622.0k $622.0k 0.00% Reduced -6.3k -6,269
78 CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC 0.10% of their portfolio BETHLEHEM, PA 27,41327.4k $590.5k $590.5k 0.10% Added +4.7k +4,701
79 Bruce G. Allen Investments, LLC 0.40% of their portfolio DENVER, CO 26,12526.1k $562.7k $562.7k 0.40% Reduced -3.9k -3,940
80 COMERICA BANK 0.00% of their portfolio DALLAS, TX 25,93025.9k $558.5k $558.5k 0.00% Added +7.3k +7,336
81 HOLLENCREST CAPITAL MANAGEMENT 0.02% of their portfolio NEWPORT BEACH, CA 25,45525.5k $548.3k $548.3k 0.02% Reduced -2.6k -2,636
82 National Philanthropic Trust 0.01% of their portfolio Jenkintown, PA 25,45525.5k $548.3k $548.3k 0.01% Reduced -2.6k -2,636
83 Perigon Wealth Management, LLC 0.01% of their portfolio SAN FRANCISCO, CA 25,00125.0k $538.5k $538.5k 0.01% Added +509 +509
84 CAHILL FINANCIAL ADVISORS INC 0.06% of their portfolio EDINA, MN 24,07024.1k $518.5k $518.5k 0.06% Reduced -7 -7
85 Wealthspire Advisors, LLC 0.00% of their portfolio NEW YORK, NY 21,11521.1k $454.8k $454.8k 0.00% Unchanged
86 C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.03% of their portfolio Westlake, OH 21,10421.1k $454.6k $454.6k 0.03% Unchanged
87 Fund Evaluation Group, LLC 0.02% of their portfolio CINCINNATI, OH 20,78620.8k $447.7k $447.7k 0.02% Unchanged
88 Empower Advisory Group, LLC 0.00% of their portfolio Greenwood Village, CO 18,68218.7k $402.4k $402.4k 0.00% Reduced -1.4k -1,433
89 Geneos Wealth Management Inc. 0.01% of their portfolio ENGLEWOOD, CO 17,46417.5k $376.2k $376.2k 0.01% Reduced -68.7k -68,737
90 Stratos Wealth Partners, LTD. 0.00% of their portfolio BEACHWOOD, OH 17,39417.4k $374.7k $374.7k 0.00% New
91 United Advisor Group, LLC 0.05% of their portfolio CINCINNATI, OH 16,37716.4k $352.8k $352.8k 0.05% Reduced -327 -327
92 Faithward Advisors, LLC 0.05% of their portfolio LANCASTER, PA 16,01616.0k $345.0k $345.0k 0.05% Reduced -7.0k -6,963
93 Ancora Advisors LLC 0.01% of their portfolio Cleveland, OH 14,70014.7k $316.6k $316.6k 0.01% Unchanged
94 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 14,55614.6k $313.5k $313.5k 0.00% Reduced -3.2k -3,214
95 Stewardship Advisors, LLC 0.07% of their portfolio MOUNT JOY, PA 13,64513.6k $293.9k $293.9k 0.07% Added +207 +207
96 Callan Family Office, LLC 0.01% of their portfolio RADNOR, PA 13,57713.6k $292.4k $292.4k 0.01% Unchanged
97 IHT Wealth Management, LLC 0.01% of their portfolio Chicago, IL 13,31313.3k $286.8k $286.8k 0.01% Added +2.1k +2,138
98 GWN SECURITIES INC. 0.06% of their portfolio Palm Beach Gardens, FL 12,58712.6k $271.1k $271.1k 0.06% New
99 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 12,43612.4k $267.9k $267.9k 0.00% Added +12.4k +12,406
100 Diversified Enterprises, LLC 0.02% of their portfolio Wilmington, DE 11,94711.9k $257.3k $257.3k 0.02% Reduced -1.1k -1,081