Vault-13

ALTSHARES TRUST

MERGER ARBITRAGE · CUSIP 02210T108

30 institutional holders +0 vs Q3 2025
3,128,2283.1m shares reported held*
$90.9mreported value*
3 new 18 added 7 reduced 4 sold out net bought ≈ $11.7m (+403.8k 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 ($1.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.07.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 25Q4 22: 25Q1 23: 27Q2 23: 24Q3 23: 25Q4 23: 28Q1 24: 26Q2 24: 32Q3 24: 32Q4 24: 32Q1 25: 33Q2 25: 37Q3 25: 30Q4 25: 3030Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202225
Q4 202225
Q1 202327
Q2 202324
Q3 202325
Q4 202328
Q1 202426
Q2 202432
Q3 202432
Q4 202432
Q1 202533
Q2 202537
Q3 202530
Q4 202530

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 24: 13 bought or addedQ1 24: 17 cut or sold outQ2 24: 26 bought or addedQ2 24: 8 cut or sold outQ2 24Q3 24: 17 bought or addedQ3 24: 13 cut or sold outQ4 24: 19 bought or addedQ4 24: 16 cut or sold outQ4 24Q1 25: 25 bought or addedQ1 25: 10 cut or sold outQ2 25: 20 bought or addedQ2 25: 18 cut or sold outQ2 25Q3 25: 20 bought or addedQ3 25: 15 cut or sold outQ4 25: 21 bought or addedQ4 25: 11 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20241317
Q2 2024268
Q3 20241713
Q4 20241916
Q1 20252510
Q2 20252018
Q3 20252015
Q4 20252111

Biggest buyers

ASSETMARK, INC Added +245,956+246.0k
GTS SECURITIES LLC New +43,634+43.6k
PFG Advisors Added +30,383+30.4k
Sonoma Allocations LLC Added +25,010+25.0k
LongView Asset Management LLC Added +15,082+15.1k
Steward Partners Investment Advisory, LLC Added +11,374+11.4k
HighTower Advisors, LLC Added +10,798+10.8k
New York Life Investment Management LLC Added +10,118+10.1k
CANTOR FITZGERALD INVESTMENT ADVISORS L.P. Added +9,787+9.8k
MORGAN STANLEY Added +8,056+8.1k

Biggest sellers

World Investment Advisors Sold out -11,177-11.2k
RAYMOND JAMES FINANCIAL INC Reduced -11,039-11.0k
Advisors Preferred, LLC Sold out -8,913-8.9k
OSAIC HOLDINGS, INC. Reduced -3,970-4.0k
CAPTRUST FINANCIAL ADVISORS Reduced -2,323-2.3k
ENVESTNET ASSET MANAGEMENT INC Reduced -1,722-1.7k
Fortitude Family Office, LLC Sold out -679-679
Allworth Financial LP Reduced -340-340
PRIVATE TRUST CO NA Reduced -128-128
HARBOUR INVESTMENTS, INC. Reduced -86-86

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CANTOR FITZGERALD INVESTMENT ADVISORS L.P. 1.27% of their portfolio NEW YORK, NY 589,523589.5k $17.1m $17.1m 1.27% Added +9.8k +9,787
2 New York Life Investment Management LLC 0.09% of their portfolio New York, NY 371,772371.8k $10.8m $10.8m 0.09% Added +10.1k +10,118
3 LongView Asset Management LLC 7.23% of their portfolio SANTA FE, NM 356,455356.5k $10.4m $10.4m 7.23% Added +15.1k +15,082
4 ASSETMARK, INC 0.02% of their portfolio CONCORD, CA 267,701267.7k $7.8m $7.8m 0.02% Added +246.0k +245,956
5 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 231,895231.9k $6.7m $6.7m 0.00% Reduced -1.7k -1,722
6 Orion Porfolio Solutions, LLC 0.04% of their portfolio OMAHA, NE 185,153185.2k $5.4m $5.4m 0.04% Added +2.8k +2,760
7 Legend Financial Advisors, Inc. 3.16% of their portfolio PITTSBURGH, PA 179,800179.8k $5.2m $5.2m 3.16% Added +4.8k +4,813
8 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 130,375130.4k $3.8m $3.8m 0.00% Added +10.8k +10,798
9 Diversify Advisory Services, LLC 0.10% of their portfolio SANDY, UT 113,427113.4k $3.3m $3.3m 0.10% Added +2.3k +2,333
10 PFG Advisors 0.16% of their portfolio Phoenix, AZ 113,051113.1k $3.3m $3.3m 0.16% Added +30.4k +30,383
11 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 100,819100.8k $2.9m $2.9m 0.00% Reduced -11.0k -11,039
12 Dynamic Advisor Solutions LLC 0.06% of their portfolio PHOENIX, AZ 64,29764.3k $1.9m $1.9m 0.06% Added +7.7k +7,654
13 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 57,83157.8k $1.7m $1.7m 0.00% Reduced -4.0k -3,970
14 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 57,18757.2k $1.7m $1.7m 0.01% Added +11.4k +11,374
15 Advisory Services Network, LLC 0.02% of their portfolio ATLANTA, GA 56,85956.9k $1.7m $1.7m 0.02% Unchanged
16 Sonoma Allocations LLC 0.51% of their portfolio SANTA ROSA, CA 53,29453.3k $1.5m $1.5m 0.51% Added +25.0k +25,010
17 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 49,59149.6k $1.4m $1.4m 0.00% Added +4.8k +4,835
18 GTS SECURITIES LLC 0.04% of their portfolio NEW YORK, NY 43,63443.6k $1.3m $1.3m 0.04% New
19 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 36,40936.4k $1.1m $1.1m 0.00% Reduced -2.3k -2,323
20 Columbus Macro, LLC 0.09% of their portfolio NEW CASTLE, PA 29,35329.4k $853.3k $853.3k 0.09% Added +1.6k +1,635
21 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 28,82228.8k $837.9k $837.9k 0.00% Added +8.1k +8,056
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 28,50928.5k $828.8k $828.8k 0.00% Added +7.7k +7,744
23 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 19,70419.7k $572.8k $572.8k 0.00% Added +377 +377
24 Prosperity Bancshares Inc 0.24% of their portfolio Houston, TX 9,0299.0k $262.5k $262.5k 0.24% First filing
25 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,9894.0k $116.0k $116.0k 0.00% Added +146 +146
26 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 2,7482.7k $79.9k $79.9k 0.00% Reduced -340 -340
27 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 1,7091.7k $49.7k $49.7k 0.00% New
28 PRIVATE TRUST CO NA 0.00% of their portfolio CLEVELAND, OH 1,1351.1k $33.0k $33.0k 0.00% Reduced -128 -128
29 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1,0101.0k $29.4k $29.4k 0.00% Reduced -86 -86
30 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 66 $174 $174 0.00% New