Vault-13

CAMBRIA ETF TR TAIL

TAIL RISK · ETP · CUSIP 132061862

52 institutional holders +1 vs Q1 2023
8,593,2808.6m shares reported held*
$116.7mreported value*
11 new 17 added 17 reduced 12 sold out net bought ≈ $12.7m (+932.0k 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 ≈ $13.58. Options: 1 managers hold calls ($23.1k notional), 2 hold puts ($6.0k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 54Q4 22: 48Q1 23: 51Q2 23: 5252Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202254
Q4 202248
Q1 202351
Q2 202352

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 21 bought or addedQ4 22: 36 cut or sold outQ4 22Q1 23: 23 bought or addedQ1 23: 32 cut or sold outQ1 23Q2 23: 28 bought or addedQ2 23: 29 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222136
Q1 20232332
Q2 20232829

Calls vs puts

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

CallsPuts
$0$10k$20k$30k$40kQ3 22 calls: $2.0kQ3 22 puts: $15.0kQ3 22P/C 7.50Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $35.3kQ1 23 puts: $7.3kQ1 23P/C 0.21Q2 23 calls: $23.1kQ2 23 puts: $6.0kQ2 23P/C 0.26
Numbers
QuarterCallsPutsP/C
Q3 2022$2.0k$15.0k7.50
Q4 2022$0$0—
Q1 2023$35.3k$7.3k0.21
Q2 2023$23.1k$6.0k0.26

Biggest buyers

AE Wealth Management LLC Added +1,179,932+1.2m
ROYAL BANK OF CANADA Added +237,790+237.8k
CITIZENS FINANCIAL GROUP INC/RI Added +95,223+95.2k
B.O.S.S. Retirement Advisors, LLC Added +52,476+52.5k
Authentikos Wealth Advisory, LLC New +49,283+49.3k
Orion Portfolio Solutions, LLC Added +45,927+45.9k
Orion Porfolio Solutions, LLC Added +45,927+45.9k
Great Lakes Retirement, Inc. Added +33,153+33.2k
Janney Montgomery Scott LLC New +27,441+27.4k
InterOcean Capital Group, LLC New +26,249+26.2k

Biggest sellers

Integrated Wealth Concepts LLC Reduced -198,833-198.8k
Soltis Investment Advisors LLC Reduced -158,046-158.0k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -157,670-157.7k
Dynamic Advisor Solutions LLC Reduced -148,729-148.7k
Tidal Investments LLC Reduced -91,768-91.8k
LPL Financial LLC Reduced -85,886-85.9k
JANE STREET GROUP, LLC Sold out -34,068-34.1k
Advisor Resource Council Sold out -33,531-33.5k
Cambridge Investment Research Advisors, Inc. Reduced -13,117-13.1k
OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC Reduced -12,873-12.9k

Biggest calls

CITADEL ADVISORS LLC Reduced $23.1k1.7k shares

Biggest puts

SIMPLEX TRADING, LLC New $6.0k100 shares
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 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 AE Wealth Management LLC 0.20% of their portfolio TOPEKA, KS 2,440,4602.4m $33.1m $33.1m 0.20% Added +1.2m +1,179,932
2 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 1,350,2321.4m $18.3m $18.3m 0.04% Added +25.8k +25,769
3 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 897,961898.0k $12.2m $12.2m 0.00% Added +21.8k +21,834
4 CITIZENS FINANCIAL GROUP INC/RI 0.38% of their portfolio PROVIDENCE, RI 759,961760.0k $10.3m $10.3m 0.38% Added +95.2k +95,223
5 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 662,686662.7k $9.0m $9.0m 0.01% Reduced -85.9k -85,886
6 NewEdge Advisors, LLC 0.06% of their portfolio NEW ORLEANS, LA 414,457414.5k $5.6m $5.6m 0.06% Added +22.4k +22,380
7 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 251,606251.6k $3.4m $3.4m 0.00% Added +237.8k +237,790
8 Orion Porfolio Solutions, LLC 0.03% of their portfolio OMAHA, NE 183,560183.6k $2.5m $2.5m 0.03% Added +45.9k +45,927
9 Orion Portfolio Solutions, LLC 0.03% of their portfolio Omaha, NE 183,560183.6k $2.5m $2.5m 0.03% Added +45.9k +45,927
10 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 139,292139.3k $1.9m $1.9m 0.01% Reduced -13.1k -13,117
11 Soltis Investment Advisors LLC 0.22% of their portfolio ST. GEORGE, UT 136,215136.2k $1.8m $1.8m 0.22% Reduced -158.0k -158,046
12 B.O.S.S. Retirement Advisors, LLC 0.39% of their portfolio Lehi, UT 135,591135.6k $1.8m $1.8m 0.39% Added +52.5k +52,476
13 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 134,895134.9k $1.8m $1.8m 0.00% Added +5.8k +5,787
14 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 126,180126.2k $1.7m $1.7m 0.01% Added +4.0k +3,966
15 WEALTHSOURCE PARTNERS, LLC 0.09% of their portfolio SAN LUIS OBISPO, CA 100,433100.4k $1.4m $1.4m 0.09% Reduced -2.5k -2,547
16 Great Lakes Retirement, Inc. 0.24% of their portfolio SANDUSKY, OH 100,380100.4k $1.4m $1.4m 0.24% Added +33.2k +33,153
17 Integrated Wealth Concepts LLC 0.02% of their portfolio WALTHAM, MA 83,07683.1k $1.1m $1.1m 0.02% Reduced -198.8k -198,833
18 Tidal Investments LLC 0.02% of their portfolio Milwaukee, WI 51,30251.3k $697.0k $697.0k 0.02% Reduced -91.8k -91,768
19 Authentikos Wealth Advisory, LLC 0.63% of their portfolio MORGAN HILL, CA 49,28349.3k $669.3k $669.3k 0.63% New
20 Dynamic Advisor Solutions LLC 0.03% of their portfolio PHOENIX, AZ 42,04242.0k $570.9k $570.9k 0.03% Reduced -148.7k -148,729
21 GTS SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 40,00040.0k $543.2k $543.2k 0.02% First filing
22 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 38,99739.0k $530.0k $530.0k 0.00% Reduced -157.7k -157,670
23 Southland Equity Partners LLC 0.14% of their portfolio WILDWOOD, MO 30,80330.8k $418.3k $418.3k 0.14% Unchanged
24 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 27,44127.4k $373.0k $373.0k 0.00% New
25 InterOcean Capital Group, LLC 0.01% of their portfolio NASHVILLE, TN 26,24926.2k $356.5k $356.5k 0.01% New
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 25,12125.1k $341.1k $341.1k 0.00% Reduced -2.1k -2,079
27 Orcam Financial Group 0.41% of their portfolio ENCINITAS, CA 22,00022.0k $299.0k $299.0k 0.41% Reduced -100 -100
28 Outlook Wealth Advisors, LLC 0.10% of their portfolio SHENANDOAH, TX 19,20019.2k $260.7k $260.7k 0.10% New
29 Gladstone Institutional Advisory LLC 0.02% of their portfolio Bedminster, NJ 19,17319.2k $260.4k $260.4k 0.02% Added +1.5k +1,535
30 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 15,64815.6k $212.5k $212.5k 0.00% Added +4.1k +4,096
31 Adalta Capital Management LLC 0.14% of their portfolio NEW YORK, NY 15,30015.3k $210.0k $210.0k 0.14% Reduced -3.2k -3,225
32 OLD MISSION CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 13,19613.2k $179.2k $179.2k 0.01% New
33 OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC 0.01% of their portfolio SAN FRANCISCO, CA 12,13412.1k $164.8k $164.8k 0.01% Reduced -12.9k -12,873
34 Resurgent Financial Advisors LLC 0.11% of their portfolio ATLANTA, GA 12,00012.0k $163.0k $163.0k 0.11% Reduced -3.0k -3,000
35 Csenge Advisory Group 0.01% of their portfolio CLEARWATER, FL 11,42911.4k $155.2k $155.2k 0.01% Reduced -148 -148
36 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 5,2245.2k $70.9k $70.9k 0.00% Reduced -153 -153
37 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 5,1875.2k $70.4k $70.4k 0.00% Reduced -927 -927
38 OLIVER LAGORE VANVALIN INVESTMENT GROUP 0.02% of their portfolio FLINT, MI 2,9653.0k $40.3k $40.3k 0.02% New
39 Impact Partnership Wealth, LLC 0.01% of their portfolio MARIETTA, GA 2,4072.4k $32.7k $32.7k 0.01% First filing
40 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,4341.4k $19.5k $19.5k 0.00% Added +1.3k +1,334
41 Fiduciary Alliance LLC 0.00% of their portfolio GREENVILLE, SC 1,3291.3k $18.0k $18.0k 0.00% New
42 ICA Group Wealth Management, LLC 0.00% of their portfolio DENVER, CO 1,1681.2k $15.9k $15.9k 0.00% Added +2 +2
43 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 633633 $8.6k $8.6k 0.00% New
44 Baker Avenue Asset Management, LP 0.00% of their portfolio SAN FRANCISCO, CA 429429 $5.8k $5.8k 0.00% New
45 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 363363 $4.9k $4.9k 0.00% Unchanged
46 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 157157 $2.1k $2.1k 0.00% New
47 JANICZEK WEALTH MANAGEMENT, LLC 0.00% of their portfolio DENVER, CO 5454 $746 $746 0.00% Unchanged
48 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 3434 $607 $607 0.00% Added +17 +17
49 Richard W. Paul & Associates, LLC 0.00% of their portfolio NOVI, MI 2727 $370 $370 0.00% Reduced -7 -7
50 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 55 $68 $68 0.00% Unchanged
51 FMR LLC 0.00% of their portfolio BOSTON, MA 11 $14 $14 0.00% New
52 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged