Vault-13

DAVIS FUNDAMENTAL ETF TR DFNL

SELECT FINL · ETP · CUSIP 23908L108

50 institutional holders +3 vs Q1 2025
4,951,7815.0m shares reported held*
$212.6mreported value*
3 new 14 added 21 reduced 1 sold out net sold ≈ $1.1m (-25.8k 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. Holder counts are more reliable. Implied quarter-end price ≈ $42.94. Options: 1 managers hold calls ($0 notional), 1 hold puts ($0).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 41Q4 22: 42Q1 23: 39Q2 23: 38Q3 23: 35Q4 23: 42Q1 24: 45Q2 24: 44Q3 24: 45Q4 24: 46Q1 25: 47Q2 25: 5050Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202241
Q4 202242
Q1 202339
Q2 202338
Q3 202335
Q4 202342
Q1 202445
Q2 202444
Q3 202445
Q4 202446
Q1 202547
Q2 202550

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 7 bought or addedQ3 23: 18 cut or sold outQ4 23: 16 bought or addedQ4 23: 17 cut or sold outQ4 23Q1 24: 17 bought or addedQ1 24: 20 cut or sold outQ2 24: 12 bought or addedQ2 24: 21 cut or sold outQ2 24Q3 24: 19 bought or addedQ3 24: 15 cut or sold outQ4 24: 22 bought or addedQ4 24: 13 cut or sold outQ4 24Q1 25: 19 bought or addedQ1 25: 16 cut or sold outQ2 25: 17 bought or addedQ2 25: 22 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023718
Q4 20231617
Q1 20241720
Q2 20241221
Q3 20241915
Q4 20242213
Q1 20251916
Q2 20251722

Biggest buyers

ROYAL BANK OF CANADA Added +57,789+57.8k
JANE STREET GROUP, LLC Added +36,136+36.1k
BANK OF AMERICA CORP /DE/ Added +30,315+30.3k
Cambridge Investment Research Advisors, Inc. New +16,174+16.2k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +15,564+15.6k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +12,984+13.0k
RAYMOND JAMES FINANCIAL INC Added +12,413+12.4k
Rockefeller Capital Management L.P. Added +11,130+11.1k
GTS SECURITIES LLC New +9,190+9.2k
LPL Financial LLC Added +7,995+8.0k

Biggest sellers

STIFEL FINANCIAL CORP Reduced -73,871-73.9k
UBS Group AG Reduced -69,284-69.3k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -21,438-21.4k
Geneos Wealth Management Inc. Reduced -16,333-16.3k
MORGAN STANLEY Reduced -14,153-14.2k
GWN SECURITIES INC. Sold out -13,783-13.8k
CITADEL ADVISORS LLC Reduced -12,322-12.3k
Axiom Financial Strategies, LLC Reduced -5,091-5.1k
Diligent Investors, LLC Reduced -3,500-3.5k
Atlas Wealth LLC Reduced -2,614-2.6k

Biggest calls

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 Davis Selected Advisers 0.49% of their portfolio Tucson, AZ 2,129,8602.1m $91.5m $91.5m 0.49% Unchanged
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 936,901936.9k $40.2m $40.2m 0.00% Reduced -14.2k -14,153
3 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 333,691333.7k $14.3m $14.3m 0.00% Added +8.0k +7,995
4 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 192,240192.2k $8.3m $8.3m 0.00% Added +30.3k +30,315
5 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 124,838124.8k $5.4m $5.4m 0.01% Reduced -2.0k -2,049
6 Axiom Financial Strategies, LLC 2.99% of their portfolio NEW ALBANY, IN 124,753124.8k $5.4m $5.4m 2.99% Reduced -5.1k -5,091
7 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 114,614114.6k $4.9m $4.9m 0.00% Added +57.8k +57,789
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 96,01196.0k $4.1m $4.1m 0.00% Reduced -69.3k -69,284
9 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 85,30385.3k $3.7m $3.7m 0.02% Added +1.8k +1,775
10 Next Level Private LLC 1.16% of their portfolio HARRISON, NY 83,02683.0k $3.6m $3.6m 1.16% Unchanged
11 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 79,97780.0k $3.4m $3.4m 0.00% Added +13.0k +12,984
12 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 78,94978.9k $3.4m $3.4m 0.02% Reduced -522 -522
13 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 51,52251.5k $2.2m $2.2m 0.00% Reduced -21.4k -21,438
14 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 50,18750.2k $2.2m $2.2m 0.00% Added +12.4k +12,413
15 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 50,00050.0k $2.1m $2.1m 0.00% Added +36.1k +36,136
16 ARKANSAS FINANCIAL GROUP, INC. 0.31% of their portfolio LITTLE ROCK, AR 46,13246.1k $2.0m $2.0m 0.31% Added +4.4k +4,424
17 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 32,41932.4k $1.4m $1.4m 0.00% Reduced -73.9k -73,871
18 SUMMIT WEALTH GROUP LLC / CO 0.29% of their portfolio COLORADO SPRINGS, CO 27,11327.1k $1.2m $1.2m 0.29% First filing
19 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 25,67325.7k $1.1m $1.1m 0.00% Added +800 +800
20 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 23,10123.1k $991.9k $991.9k 0.02% Reduced -1.6k -1,588
21 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 22,86022.9k $981.7k $981.7k 0.00% Added +11.1k +11,130
22 SITTNER & NELSON, LLC 0.35% of their portfolio EUGENE, OR 20,23320.2k $868.8k $868.8k 0.35% Unchanged
23 Prospera Financial Services Inc 0.02% of their portfolio Dallas, TX 20,14220.1k $864.9k $864.9k 0.02% Reduced -1.3k -1,263
24 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 18,26518.3k $784.0k $784.0k 0.00% Added +1.2k +1,165
25 Atlas Wealth LLC 0.28% of their portfolio CINCINNATI, OH 17,89817.9k $775.1k $775.1k 0.28% Reduced -2.6k -2,614
26 Geneos Wealth Management Inc. 0.02% of their portfolio ENGLEWOOD, CO 16,86716.9k $724.2k $724.2k 0.02% Reduced -16.3k -16,333
27 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 16,17416.2k $694.0k $694.0k 0.00% New
28 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 15,56415.6k $668.3k $668.3k 0.00% New
29 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 11,19911.2k $480.9k $480.9k 0.00% Reduced -12.3k -12,322
30 Melone Private Wealth, LLC 0.23% of their portfolio AUBURN HILLS, MI 10,45010.4k $446.2k $446.2k 0.23% Reduced -230 -230
31 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 10,01710.0k $430.1k $430.1k 0.00% Reduced -2.0k -2,036
32 Modern Wealth Management, LLC 0.01% of their portfolio KANSAS CITY, MO 9,5609.6k $410.5k $410.5k 0.01% Reduced -660 -660
33 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 9,5269.5k $409.0k $409.0k 0.00% Reduced -2.0k -2,022
34 GTS SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 9,1909.2k $394.6k $394.6k 0.02% New
35 DAVENPORT & Co LLC 0.00% of their portfolio RICHMOND, VA 9,1649.2k $393.5k $393.5k 0.00% Added +143 +143
36 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 8,1008.1k $347.8k $347.8k 0.00% Reduced -1.8k -1,750
37 Ameritas Advisory Services, LLC 0.02% of their portfolio Lincoln, NE 7,9377.9k $340.8k $340.8k 0.02% Reduced -226 -226
38 FLAGSHIP HARBOR ADVISORS, LLC 0.01% of their portfolio BOSTON, MA 7,3197.3k $314.3k $314.3k 0.01% Unchanged
39 Diligent Investors, LLC 0.06% of their portfolio REDLANDS, CA 5,8395.8k $250.7k $250.7k 0.06% Reduced -3.5k -3,500
40 Carson Advisory Inc. 0.15% of their portfolio ATHENS, GA 5,5005.5k $236.2k $236.2k 0.15% Unchanged
41 Millstone Evans Group, LLC 0.10% of their portfolio BOULDER, CO 3,3003.3k $141.7k $141.7k 0.10% Unchanged
42 Kathleen S. Wright Associates Inc. 0.05% of their portfolio PITTSBURGH, PA 3,1253.1k $134.2k $134.2k 0.05% Unchanged
43 Key Financial Inc 0.02% of their portfolio WEST CHESTER, PA 2,4972.5k $107.2k $107.2k 0.02% Reduced -208 -208
44 COMERICA BANK 0.00% of their portfolio DALLAS, TX 1,3581.4k $58.3k $58.3k 0.00% Unchanged
45 CWM, LLC 0.00% of their portfolio OMAHA, NE 1,3001.3k $56.0k $56.0k 0.00% Added +800 +800
46 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 723723 $31.0k $31.0k 0.00% Unchanged
47 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 715715 $30.7k $30.7k 0.00% Unchanged
48 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 500500 $21.5k $21.5k 0.00% Added +500 +500
49 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 149149 $6.4k $6.4k 0.00% Reduced -118 -118
50 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged