Vault-13

ABRDN ETFS BCD

BBRG ALL COMMDY · ETP · CUSIP 003261203

75 institutional holders +6 vs Q3 2025
5,089,6055.1m shares reported held*
$157.6mreported value*
15 new 29 added 15 reduced 11 sold out net bought ≈ $1.9m (+60.7k 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. Holder counts are more reliable. Implied quarter-end price ≈ $30.97. Options: 0 managers hold calls (— notional), 1 hold puts ($322.0k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 50Q4 22: 59Q1 23: 58Q2 23: 61Q3 23: 67Q4 23: 66Q1 24: 59Q2 24: 53Q3 24: 59Q4 24: 69Q1 25: 73Q2 25: 80Q3 25: 69Q4 25: 7575Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202250
Q4 202259
Q1 202358
Q2 202361
Q3 202367
Q4 202366
Q1 202459
Q2 202453
Q3 202459
Q4 202469
Q1 202573
Q2 202580
Q3 202569
Q4 202575

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q1 24: 34 bought or addedQ1 24: 37 cut or sold outQ2 24: 24 bought or addedQ2 24: 29 cut or sold outQ2 24Q3 24: 25 bought or addedQ3 24: 28 cut or sold outQ4 24: 31 bought or addedQ4 24: 27 cut or sold outQ4 24Q1 25: 37 bought or addedQ1 25: 26 cut or sold outQ2 25: 35 bought or addedQ2 25: 34 cut or sold outQ2 25Q3 25: 36 bought or addedQ3 25: 34 cut or sold outQ4 25: 44 bought or addedQ4 25: 26 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243437
Q2 20242429
Q3 20242528
Q4 20243127
Q1 20253726
Q2 20253534
Q3 20253634
Q4 20254426

Calls vs puts

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

CallsPuts
$0$100k$200k$300k$400kQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $322.0kQ4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$0$322.0k—

Biggest buyers

Inspire Advisors, LLC New +140,366+140.4k
ASSETMARK, INC New +99,534+99.5k
UBS Group AG Added +39,400+39.4k
AMERICAN NATIONAL BANK & TRUST Added +35,513+35.5k
Columbus Macro, LLC Added +28,186+28.2k
STIFEL FINANCIAL CORP Added +26,706+26.7k
CIBC WORLD MARKET INC. New +26,064+26.1k
Alhambra Investment Management LLC New +23,818+23.8k
Ameritas Investment Partners, Inc. Added +16,315+16.3k
LPL Financial LLC Added +15,178+15.2k

Biggest sellers

TD Waterhouse Canada Inc. Sold out -127,622-127.6k
RETIREMENT GUYS FORMULA LLC Reduced -127,215-127.2k
FLOW TRADERS U.S. LLC Sold out -75,522-75.5k
Alaska Permanent Capital Management, LLC Reduced -57,669-57.7k
JANE STREET GROUP, LLC Sold out -23,382-23.4k
CITADEL ADVISORS LLC Sold out -16,549-16.5k
OSAIC HOLDINGS, INC. Reduced -13,127-13.1k
HENGEHOLD CAPITAL MANAGEMENT LLC Reduced -10,800-10.8k
Whipplewood Advisors, LLC Reduced -10,669-10.7k
MML INVESTORS SERVICES, LLC Reduced -10,329-10.3k

Biggest calls

None

Biggest puts

TORNO CAPITAL, LLC Not comparable $322.0k10.4k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Alaska Permanent Capital Management, LLC 2.76% of their portfolio ANCHORAGE, AK 1,176,7091.2m $36.4m $36.4m 2.76% Reduced -57.7k -57,669
2 Alaska Wealth Advisors, LLC 1.65% of their portfolio ANCHORAGE, AK 417,243417.2k $12.9m $12.9m 1.65% Added +14.7k +14,709
3 HENGEHOLD CAPITAL MANAGEMENT LLC 0.83% of their portfolio CINCINNATI, OH 319,882319.9k $9.9m $9.9m 0.83% Reduced -10.8k -10,800
4 Columbus Macro, LLC 1.03% of their portfolio NEW CASTLE, PA 304,115304.1k $9.4m $9.4m 1.03% Added +28.2k +28,186
5 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 267,533267.5k $8.3m $8.3m 0.01% Added +6.1k +6,086
6 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 201,503201.5k $6.2m $6.2m 0.00% Added +10.5k +10,488
7 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 197,240197.2k $6.1m $6.1m 0.00% Added +15.2k +15,178
8 AMERICAN NATIONAL BANK & TRUST 0.50% of their portfolio WICHITA FALLS, TX 170,356170.4k $5.3m $5.3m 0.50% Added +35.5k +35,513
9 Columbia River Financial Group, LLC 2.83% of their portfolio VANCOUVER, WA 149,005149.0k $4.6m $4.6m 2.83% Added +5.1k +5,081
10 Ameritas Investment Partners, Inc. 0.14% of their portfolio LINCOLN, NE 146,191146.2k $4.5m $4.5m 0.14% Added +16.3k +16,315
11 Inspire Advisors, LLC 0.40% of their portfolio Meridian, ID 140,366140.4k $4.3m $4.3m 0.40% New
12 CoreCap Advisors, LLC 0.13% of their portfolio SOUTHFIELD, MI 124,389124.4k $3.9m $3.9m 0.13% Reduced -5.4k -5,400
13 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 123,734123.7k $3.8m $3.8m 0.00% Added +26.7k +26,706
14 Impact Investors, Inc 2.21% of their portfolio SAN FRANCISCO, CA 103,023103.0k $3.2m $3.2m 2.21% Reduced -6.2k -6,180
15 ASSETMARK, INC 0.01% of their portfolio CONCORD, CA 99,53499.5k $3.1m $3.1m 0.01% New
16 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 98,30298.3k $3.0m $3.0m 0.00% Reduced -13.1k -13,127
17 RFG Advisory, LLC 0.05% of their portfolio BIRMINGHAM, AL 87,11087.1k $2.7m $2.7m 0.05% Added +5.2k +5,222
18 FDx Advisors, Inc. 1.18% of their portfolio BERWYN, PA 74,70374.7k $2.3m $2.3m 1.18% Reduced -2.5k -2,488
19 VanderPol Investments L.L.C. 4.39% of their portfolio CALEDONIA, MI 74,25974.3k $2.3m $2.3m 4.39% Added +4.3k +4,254
20 KESTRA PRIVATE WEALTH SERVICES, LLC 0.03% of their portfolio AUSTIN, TX 65,56665.6k $2.0m $2.0m 0.03% Added +5.8k +5,795
21 Mengis Capital Management, Inc. 0.35% of their portfolio PORTLAND, OR 63,84263.8k $2.0m $2.0m 0.35% Added +2.3k +2,344
22 Ifrah Financial Services, Inc. 0.48% of their portfolio Little Rock, AR 59,77759.8k $1.9m $1.9m 0.48% Added +360 +360
23 UBS Group AG 0.00% of their portfolio ZURICH, V8 52,77252.8k $1.6m $1.6m 0.00% Added +39.4k +39,400
24 Millington Financial Advisors, LLC 0.73% of their portfolio NAPERVILLE, IL 49,65549.7k $1.6m $1.6m 0.73% Added +4.5k +4,515
25 RHS Financial, LLC 0.50% of their portfolio SAN FRANCISCO, CA 33,00433.0k $1.0m $1.0m 0.50% Reduced -3.9k -3,899
26 IHT Wealth Management, LLC 0.02% of their portfolio Chicago, IL 28,61828.6k $886.0k $886.0k 0.02% Added +2.9k +2,891
27 RETIREMENT GUYS FORMULA LLC 0.39% of their portfolio MAUMEE, OH 27,37127.4k $847.4k $847.4k 0.39% Reduced -127.2k -127,215
28 ALLSTREET CAPITAL ADVISORS LLC 0.59% of their portfolio LOS ANGELES, CA 26,30726.3k $814.5k $814.5k 0.59% First filing
29 Andina Capital Management, LLC 0.49% of their portfolio LOGAN, UT 26,10626.1k $808.2k $808.2k 0.49% Added +859 +859
30 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 26,06426.1k $806.9k $806.9k 0.00% New
31 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 24,19324.2k $749.0k $749.0k 0.00% Added +1.3k +1,325
32 BCS Private Wealth Management, Inc. 0.26% of their portfolio RUMSON, NJ 24,13024.1k $747.1k $747.1k 0.26% Unchanged
33 Alhambra Investment Management LLC 0.34% of their portfolio PALMETTO BAY, FL 23,81823.8k $737.4k $737.4k 0.34% New
34 InTrack Investment Management Inc 0.40% of their portfolio SOUTH BURLINGTON, VT 23,11623.1k $715.7k $715.7k 0.40% Added +2.5k +2,496
35 Madison Asset Management, LLC 0.01% of their portfolio MADISON, WI 21,64621.6k $670.2k $670.2k 0.01% Added +10.2k +10,246
36 Lifetime Wealth Management P.C. 0.42% of their portfolio ROCKWALL, TX 21,36921.4k $661.6k $661.6k 0.42% First filing
37 COHEN & STEERS, INC. 0.00% of their portfolio NEW YORK, NY 19,37519.4k $600.0k $600.0k 0.00% Added +1.3k +1,290
38 Investment Research Partners LLC 0.25% of their portfolio LEMONT, PA 18,63918.6k $577.1k $577.1k 0.25% Unchanged
39 WEALTHSPAN PARTNERS, LLC 0.21% of their portfolio DAVENPORT, IA 18,45018.4k $571.2k $571.2k 0.21% Added +2.9k +2,860
40 Crescent Grove Advisors, LLC 0.05% of their portfolio LAKE FOREST, IL 16,37116.4k $506.8k $506.8k 0.05% Unchanged
41 SECURED RETIREMENT ADVISORS, LLC 0.27% of their portfolio ST LOUIS PARK, MN 15,72915.7k $487.0k $487.0k 0.27% Reduced -909 -909
42 Schrum Private Wealth Management LLC 0.27% of their portfolio ST. AUGUSTINE, FL 11,73911.7k $363.4k $363.4k 0.27% Reduced -2.7k -2,739
43 Rede Wealth, LLC 0.12% of their portfolio CHARLOTTESVILLE, VA 11,54711.5k $357.5k $357.5k 0.12% New
44 Centurion Wealth Management LLC 0.08% of their portfolio Mclean, VA 11,22311.2k $347.5k $347.5k 0.08% Added +252 +252
45 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 10,54810.5k $326.6k $326.6k 0.00% Unchanged
46 PETRA FINANCIAL ADVISORS INC 0.19% of their portfolio COLORADO SRPINGS, CO 10,29110.3k $318.6k $318.6k 0.19% New
47 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 9,97510.0k $309.0k $309.0k 0.00% Added +957 +957
48 Triton Financial Group Inc 0.19% of their portfolio Oklahoma City, OK 9,2239.2k $285.5k $285.5k 0.19% Added +109 +109
49 SHEETS SMITH WEALTH MANAGEMENT 0.03% of their portfolio WINSTON-SALEM, NC 8,7528.8k $271.0k $271.0k 0.03% Unchanged
50 Accel Wealth Management 0.07% of their portfolio WAVERLY, IA 8,4728.5k $262.3k $262.3k 0.07% New
51 Mariner, LLC 0.00% of their portfolio Overland Park, KS 8,2058.2k $254.0k $254.0k 0.00% Reduced -217 -217
52 MeadowBrook Investment Advisors LLC 0.21% of their portfolio Livonia, MI 8,1958.2k $245.1k $245.1k 0.21% Added +730 +730
53 Stokes Family Office, LLC 0.02% of their portfolio NEW ORLEANS, LA 7,2707.3k $225.1k $225.1k 0.02% New
54 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 6,9937.0k $216.5k $216.5k 0.00% Reduced -10.3k -10,329
55 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,5701.6k $48.6k $48.6k 0.00% New
56 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1,0441.0k $32.3k $32.3k 0.00% Added +37 +37
57 Whipplewood Advisors, LLC 0.01% of their portfolio LITTLETON, CO 699699 $21.6k $21.6k 0.01% Reduced -10.7k -10,669
58 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 665665 $20.5k $20.5k 0.00% Unchanged
59 COMERICA BANK 0.00% of their portfolio DALLAS, TX 451451 $14.0k $14.0k 0.00% Unchanged
60 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 434434 $13.4k $13.4k 0.00% New
61 Center for Financial Planning, Inc. 0.00% of their portfolio SOUTHFIED, MI 305305 $9.4k $9.4k 0.00% New
62 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 200200 $6.2k $6.2k 0.00% New
63 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 133133 $4.1k $4.1k 0.00% Unchanged
64 Aptus Capital Advisors, LLC 0.00% of their portfolio FAIRHOPE, AL 127127 $3.9k $3.9k 0.00% New
65 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 103103 $3.2k $3.2k 0.00% New
66 AlphaCore Capital LLC 0.00% of their portfolio LA JOLLA, CA 100100 $3.1k $3.1k 0.00% New
67 CALDWELL SUTTER CAPITAL, INC. 0.00% of their portfolio SAUSALITO, CA 7070 $2.2k $2.2k 0.00% Unchanged
68 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 6161 $1.9k $1.9k 0.00% Unchanged
69 Nemes Rush Group LLC 0.00% of their portfolio NOVI, MI 3232 $991 $991 0.00% Unchanged
70 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 2727 $836 $836 0.00% Reduced -126 -126
71 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 2626 $805 $805 0.00% Unchanged
72 Strategic Investment Solutions, Inc. /IL 0.00% of their portfolio ORLAND PARK, IL 77 $217 $217 0.00% Reduced -203 -203
73 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 22 $83 $83 0.00% Added +1 +1
74 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 11 $22 $22 0.00% Unchanged
75 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 00 $29 $29 0.00% Unchanged