Vault-13

ETF SER SOLUTIONS SMIG

BAHL GAYNOR SML · ETP · CUSIP 26922B832

57 institutional holders +4 vs Q1 2025
26,238,81026.2m shares reported held*
$757.0mreported value*
11 new 32 added 11 reduced 7 sold out net bought ≈ $172.4m (+6.0m 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 ($3.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $28.85.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 11Q4 22: 15Q1 23: 21Q2 23: 23Q3 23: 28Q4 23: 33Q1 24: 29Q2 24: 31Q3 24: 40Q4 24: 49Q1 25: 53Q2 25: 5757Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202211
Q4 202215
Q1 202321
Q2 202323
Q3 202328
Q4 202333
Q1 202429
Q2 202431
Q3 202440
Q4 202449
Q1 202553
Q2 202557

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 23: 23 bought or addedQ3 23: 1 cut or sold outQ4 23: 23 bought or addedQ4 23: 8 cut or sold outQ4 23Q1 24: 20 bought or addedQ1 24: 12 cut or sold outQ2 24: 13 bought or addedQ2 24: 14 cut or sold outQ2 24Q3 24: 29 bought or addedQ3 24: 7 cut or sold outQ4 24: 37 bought or addedQ4 24: 10 cut or sold outQ4 24Q1 25: 35 bought or addedQ1 25: 15 cut or sold outQ2 25: 43 bought or addedQ2 25: 18 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023231
Q4 2023238
Q1 20242012
Q2 20241314
Q3 2024297
Q4 20243710
Q1 20253515
Q2 20254318

Biggest buyers

ROYAL BANK OF CANADA Added +2,362,575+2.4m
BANK OF AMERICA CORP /DE/ Added +1,518,914+1.5m
MORGAN STANLEY Added +711,354+711.4k
UBS Group AG Added +433,629+433.6k
Prime Capital Investment Advisors, LLC Added +230,074+230.1k
LPL Financial LLC Added +219,226+219.2k
Joseph Group Capital Management New +189,089+189.1k
WELLS FARGO & COMPANY/MN New +130,722+130.7k
Rockefeller Capital Management L.P. Added +126,204+126.2k
Equitable Holdings, Inc. New +120,986+121.0k

Biggest sellers

TWO SIGMA INVESTMENTS, LP Sold out -150,009-150.0k
RAYMOND JAMES FINANCIAL INC Reduced -66,647-66.6k
TRANSCEND CAPITAL ADVISORS, LLC Sold out -49,414-49.4k
&PARTNERS Sold out -41,574-41.6k
INDEPENDENT FINANCIAL GROUP, LLC Reduced -29,425-29.4k
D. E. Shaw & Co., Inc. Reduced -13,703-13.7k
JANE STREET GROUP, LLC Reduced -11,491-11.5k
ORBA Wealth Advisors, L.L.C. Reduced -11,404-11.4k
Cetera Investment Advisers Reduced -8,661-8.7k
CITADEL ADVISORS LLC Sold out -7,765-7.8k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 8,865,9498.9m $255.8m $255.8m 0.02% Added +1.5m +1,518,914
2 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 5,646,6535.6m $162.9m $162.9m 0.01% Added +711.4k +711,354
3 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 4,555,6184.6m $131.4m $131.4m 0.01% Added +2.4m +2,362,575
4 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,894,3301.9m $54.7m $54.7m 0.01% Added +433.6k +433,629
5 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 613,345613.3k $17.7m $17.7m 0.01% Reduced -66.6k -66,647
6 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 448,422448.4k $12.9m $12.9m 0.00% Added +219.2k +219,226
7 Pine Valley Investments Ltd Liability Co 0.57% of their portfolio MARLTON, NJ 336,554336.6k $9.7m $9.7m 0.57% Added +4.6k +4,599
8 Prime Capital Investment Advisors, LLC 0.11% of their portfolio OVERLAND PARK, KS 295,975296.0k $8.5m $8.5m 0.11% Added +230.1k +230,074
9 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 294,976295.0k $8.5m $8.5m 0.01% Added +2.5k +2,515
10 INDEPENDENT FINANCIAL GROUP, LLC 0.21% of their portfolio SAN DIEGO, CA 269,775269.8k $7.8m $7.8m 0.21% Reduced -29.4k -29,425
11 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 233,288233.3k $6.7m $6.7m 0.01% Added +37.8k +37,797
12 CASTLE WEALTH MANAGEMENT LLC 2.28% of their portfolio BOYNTON BEACH, FL 216,985217.0k $6.3m $6.3m 2.28% Added +13.8k +13,815
13 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 195,016195.0k $5.6m $5.6m 0.01% Added +126.2k +126,204
14 Joseph Group Capital Management 1.83% of their portfolio COLUMBUS, OH 189,089189.1k $5.5m $5.5m 1.83% New
15 FIFTH THIRD BANCORP 0.02% of their portfolio CINCINNATI, OH 169,712169.7k $4.9m $4.9m 0.02% Added +4.2k +4,172
16 U.S. Capital Wealth Advisors, LLC 0.14% of their portfolio AUSTIN, TX 166,589166.6k $4.8m $4.8m 0.14% Reduced -1.6k -1,628
17 Sanctuary Advisors, LLC 0.03% of their portfolio INDIANAPOLIS, IN 161,879161.9k $4.7m $4.7m 0.03% Added +9.6k +9,626
18 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 159,426159.4k $4.6m $4.6m 0.00% Added +9.8k +9,766
19 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 154,126154.1k $4.4m $4.4m 0.00% Added +25.5k +25,540
20 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 136,057136.1k $3.9m $3.9m 0.01% Reduced -8.7k -8,661
21 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 130,722130.7k $3.8m $3.8m 0.00% New
22 INTEGRITY WEALTH ADVISORS, INC. 2.63% of their portfolio Ventura, CA 130,645130.6k $3.8m $3.8m 2.63% Added +7.4k +7,442
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 130,439130.4k $3.8m $3.8m 0.00% Added +8.3k +8,295
24 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 120,986121.0k $3.5m $3.5m 0.03% New
25 Waverly Advisors, LLC 0.03% of their portfolio BIRMINGHAM, AL 99,02499.0k $2.9m $2.9m 0.03% New
26 Heritage Wealth Management, Inc. 0.80% of their portfolio CINCINNATI, OH 85,82085.8k $2.5m $2.5m 0.80% Added +4.2k +4,200
27 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 79,74979.7k $2.3m $2.3m 0.01% Added +7.9k +7,879
28 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 72,19772.2k $2.1m $2.1m 0.00% Reduced -11.5k -11,491
29 KESTRA PRIVATE WEALTH SERVICES, LLC 0.03% of their portfolio AUSTIN, TX 61,26561.3k $1.8m $1.8m 0.03% Added +1.4k +1,378
30 Wealthcare Advisory Partners LLC 0.04% of their portfolio WEST CHESTER, PA 55,06055.1k $1.6m $1.6m 0.04% Added +8.8k +8,815
31 EdgeRock Capital LLC 0.49% of their portfolio DENVER, CO 54,00854.0k $1.6m $1.6m 0.49% Added +16.3k +16,301
32 Wealth Dimensions Group, Ltd. 0.27% of their portfolio CINCINNATI, OH 41,77541.8k $1.2m $1.2m 0.27% Unchanged
33 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 34,87434.9k $1.0m $1.0m 0.00% Added +200 +200
34 Gladstone Institutional Advisory LLC 0.04% of their portfolio Bedminster, NJ 32,75232.8k $944.9k $944.9k 0.04% Added +214 +214
35 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 30,79930.8k $889.0k $889.0k 0.00% New
36 COMERICA BANK 0.00% of their portfolio DALLAS, TX 28,34428.3k $817.7k $817.7k 0.00% Added +5.4k +5,362
37 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 20,88420.9k $602.5k $602.5k 0.00% New
38 FINANCIAL MANAGEMENT NETWORK INC 0.10% of their portfolio MISSION VIEJO, CA 19,07919.1k $562.3k $562.3k 0.10% Reduced -1.3k -1,270
39 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 13,54113.5k $390.7k $390.7k 0.00% Reduced -13.7k -13,703
40 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 12,51612.5k $361.0k $361.0k 0.00% Added +4.2k +4,173
41 PUREfi Wealth, LLC 0.26% of their portfolio BOSTON, MA 11,40011.4k $328.9k $328.9k 0.26% New
42 MGO ONE SEVEN LLC 0.01% of their portfolio Beachwood, OH 11,22511.2k $323.8k $323.8k 0.01% Added +125 +125
43 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 11,09311.1k $320.0k $320.0k 0.00% Added +2.3k +2,256
44 ORBA Wealth Advisors, L.L.C. 0.28% of their portfolio CHICAGO, IL 10,58010.6k $305.2k $305.2k 0.28% Reduced -11.4k -11,404
45 Weaver Consulting Group 0.08% of their portfolio HUNTINGTON BEACH, CA 9,5509.6k $275.5k $275.5k 0.08% Reduced -200 -200
46 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 9,3789.4k $270.6k $270.6k 0.00% Reduced -2.8k -2,784
47 PFG Investments, LLC 0.02% of their portfolio WOODBURY, NY 9,0209.0k $260.2k $260.2k 0.02% Added +3 +3
48 COWA, LLC 0.09% of their portfolio Tulsa, OK 8,0348.0k $231.8k $231.8k 0.09% New
49 Stratos Wealth Partners, LTD. 0.00% of their portfolio BEACHWOOD, OH 7,3887.4k $213.1k $213.1k 0.00% Added +201 +201
50 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,9674.0k $114.6k $114.6k 0.00% Added +3.1k +3,067
51 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 2,0802.1k $60.0k $60.0k 0.00% New
52 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 2,0242.0k $58.4k $58.4k 0.00% Added +9 +9
53 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 1,6771.7k $48.4k $48.4k 0.00% Reduced -7.6k -7,579
54 BlackRock, Inc. 0.00% of their portfolio New York, NY 465465 $13.4k $13.4k 0.00% New
55 Brooklyn Investment Group 0.00% of their portfolio NEW YORK, NY 436436 $12.6k $12.6k 0.00% Unchanged
56 Nemes Rush Group LLC 0.00% of their portfolio NOVI, MI 284284 $8.2k $8.2k 0.00% New
57 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged