Vault-13

ETF SER SOLUTIONS SMIG

BAHL GAYNOR SML · ETP · CUSIP 26922B832

59 institutional holders +7 vs Q3 2025
25,311,01825.3m shares reported held*
$729.0mreported value*
11 new 16 added 22 reduced 6 sold out net sold ≈ $28.7m (-995.6k 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 ($1.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $28.80.

Trends to Q4 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: 57Q3 25: 52Q4 25: 5959Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 202552
Q4 202559

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q1 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 25Q3 25: 34 bought or addedQ3 25: 24 cut or sold outQ4 25: 27 bought or addedQ4 25: 28 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20242012
Q2 20241314
Q3 2024297
Q4 20243710
Q1 20253515
Q2 20254318
Q3 20253424
Q4 20252728

Biggest buyers

WELLS FARGO & COMPANY/MN Added +76,590+76.6k
TWO SIGMA INVESTMENTS, LP New +70,600+70.6k
ROYAL BANK OF CANADA Added +55,084+55.1k
TRANSCEND CAPITAL ADVISORS, LLC New +46,460+46.5k
Vestmark Advisory Solutions, Inc. New +42,183+42.2k
Atria Investments, Inc New +37,989+38.0k
Cetera Investment Advisers Added +19,395+19.4k
Rockefeller Capital Management L.P. Added +18,171+18.2k
D. E. Shaw & Co., Inc. New +16,122+16.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +13,809+13.8k

Biggest sellers

UBS Group AG Reduced -278,080-278.1k
INTEGRITY WEALTH ADVISORS, INC. Sold out -252,199-252.2k
Sanctuary Advisors, LLC Reduced -143,283-143.3k
JPMORGAN CHASE & CO Reduced -140,540-140.5k
MORGAN STANLEY Reduced -137,067-137.1k
BANK OF AMERICA CORP /DE/ Reduced -114,479-114.5k
RAYMOND JAMES FINANCIAL INC Reduced -108,987-109.0k
U.S. Capital Wealth Advisors, LLC Sold out -103,620-103.6k
JANE STREET GROUP, LLC Sold out -77,209-77.2k
MML INVESTORS SERVICES, LLC Reduced -18,443-18.4k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 9,533,1859.5m $274.6m $274.6m 0.02% Reduced -114.5k -114,479
2 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 6,033,6366.0m $173.8m $173.8m 0.01% Reduced -137.1k -137,067
3 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 2,365,8732.4m $68.1m $68.1m 0.01% Added +55.1k +55,084
4 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,663,1631.7m $47.9m $47.9m 0.01% Reduced -278.1k -278,080
5 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 624,109624.1k $18.0m $18.0m 0.01% Reduced -109.0k -108,987
6 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 478,124478.1k $13.8m $13.8m 0.00% Added +76.6k +76,590
7 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 442,766442.8k $12.8m $12.8m 0.00% Added +11.8k +11,802
8 Pine Valley Investments Ltd Liability Co 0.50% of their portfolio MARLTON, NJ 348,299348.3k $10.0m $10.0m 0.50% Reduced -4.8k -4,786
9 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 329,976330.0k $9.5m $9.5m 0.01% Added +8.3k +8,274
10 Prime Capital Investment Advisors, LLC 0.11% of their portfolio OVERLAND PARK, KS 319,621319.6k $9.2m $9.2m 0.11% Added +2.8k +2,772
11 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 305,578305.6k $8.8m $8.8m 0.01% Added +5.6k +5,577
12 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 242,634242.6k $7.0m $7.0m 0.01% Reduced -3.5k -3,477
13 CASTLE WEALTH MANAGEMENT LLC 2.07% of their portfolio BOYNTON BEACH, FL 216,559216.6k $6.2m $6.2m 2.07% Reduced -616 -616
14 Joseph Group Capital Management 1.51% of their portfolio COLUMBUS, OH 198,931198.9k $5.7m $5.7m 1.51% Added +9.7k +9,663
15 FIFTH THIRD BANCORP 0.02% of their portfolio CINCINNATI, OH 186,512186.5k $5.4m $5.4m 0.02% Added +1.5k +1,500
16 Sanctuary Advisors, LLC 0.03% of their portfolio INDIANAPOLIS, IN 183,714183.7k $5.3m $5.3m 0.03% Reduced -143.3k -143,283
17 Gotham Asset Management, LLC 0.02% of their portfolio NEW YORK, NY 170,000170.0k $4.9m $4.9m 0.02% Unchanged
18 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 159,887159.9k $4.6m $4.6m 0.01% Added +19.4k +19,395
19 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 152,832152.8k $4.4m $4.4m 0.00% Reduced -140.5k -140,540
20 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 123,783123.8k $3.6m $3.6m 0.00% Reduced -6.9k -6,936
21 Equitable Holdings, Inc. 0.02% of their portfolio NEW YORK, NY 123,728123.7k $3.6m $3.6m 0.02% Reduced -5.8k -5,815
22 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 122,169122.2k $3.5m $3.5m 0.01% Added +18.2k +18,171
23 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 118,118118.1k $3.4m $3.4m 0.01% Reduced -2.4k -2,405
24 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 86,85386.9k $2.5m $2.5m 0.02% Reduced -4.0k -4,033
25 Heritage Wealth Management, Inc. 0.69% of their portfolio CINCINNATI, OH 85,82085.8k $2.5m $2.5m 0.69% Unchanged
26 Wealth Intelligence, LLC 1.14% of their portfolio COLUMBUS, GA 79,57079.6k $2.3m $2.3m 1.14% First filing
27 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 70,60070.6k $2.0m $2.0m 0.00% New
28 KESTRA PRIVATE WEALTH SERVICES, LLC 0.02% of their portfolio AUSTIN, TX 68,63968.6k $2.0m $2.0m 0.02% Added +1.7k +1,656
29 Wealthcare Advisory Partners LLC 0.03% of their portfolio WEST CHESTER, PA 54,37154.4k $1.6m $1.6m 0.03% Reduced -789 -789
30 TRANSCEND CAPITAL ADVISORS, LLC 0.10% of their portfolio MADISON, NJ 46,46046.5k $1.3m $1.3m 0.10% New
31 Vestmark Advisory Solutions, Inc. 0.02% of their portfolio Wakefield, MA 42,18342.2k $1.2m $1.2m 0.02% New
32 ELEVATION POINT WEALTH PARTNERS, LLC 0.06% of their portfolio DENVER, CO 42,18342.2k $1.2m $1.2m 0.06% Reduced -6.5k -6,529
33 Wealth Dimensions Group, Ltd. 0.24% of their portfolio CINCINNATI, OH 41,77541.8k $1.2m $1.2m 0.24% Unchanged
34 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 37,98938.0k $1.1m $1.1m 0.01% New
35 COMERICA BANK 0.00% of their portfolio DALLAS, TX 34,91534.9k $1.0m $1.0m 0.00% Reduced -959 -959
36 EdgeRock Capital LLC 0.23% of their portfolio DENVER, CO 29,99630.0k $863.9k $863.9k 0.23% Reduced -505 -505
37 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 25,50725.5k $734.6k $734.6k 0.00% Added +1.2k +1,158
38 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 20,60420.6k $593.4k $593.4k 0.00% Reduced -12.3k -12,301
39 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 20,15020.1k $580.3k $580.3k 0.00% Reduced -18.4k -18,443
40 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 16,31716.3k $470.0k $470.0k 0.00% Added +2.7k +2,656
41 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 16,12216.1k $464.3k $464.3k 0.00% New
42 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 13,80913.8k $397.7k $397.7k 0.00% New
43 PUREfi Wealth, LLC 0.29% of their portfolio BOSTON, MA 13,00013.0k $374.4k $374.4k 0.29% Unchanged
44 PFG Investments, LLC 0.02% of their portfolio WOODBURY, NY 12,33512.3k $355.2k $355.2k 0.02% Added +2.4k +2,421
45 Weaver Consulting Group 0.07% of their portfolio HUNTINGTON BEACH, CA 9,5509.6k $275.0k $275.0k 0.07% Unchanged
46 Argentarii, LLC 0.08% of their portfolio CINCINNATI, OH 8,0588.1k $232.1k $232.1k 0.08% Added +175 +175
47 Arkadios Wealth Advisors 0.00% of their portfolio ATLANTA, GA 7,5557.6k $217.6k $217.6k 0.00% New
48 Stratos Wealth Partners, LTD. 0.00% of their portfolio BEACHWOOD, OH 7,3277.3k $211.0k $211.0k 0.00% Unchanged
49 ORBA Wealth Advisors, L.L.C. 0.18% of their portfolio CHICAGO, IL 7,0757.1k $203.8k $203.8k 0.18% Reduced -3.3k -3,280
50 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 2,9563.0k $85.1k $85.1k 0.00% New
51 Cornerstone Financial Management LLC 0.08% of their portfolio BURLINGTON, MA 2,8002.8k $80.6k $80.6k 0.08% First filing
52 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,6911.7k $48.7k $48.7k 0.00% Reduced -3.5k -3,496
53 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 1,6771.7k $48.3k $48.3k 0.00% Unchanged
54 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 1,3411.3k $38.6k $38.6k 0.00% Added +1.2k +1,174
55 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 950950 $27.4k $27.4k 0.00% New
56 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 812812 $23.4k $23.4k 0.00% New
57 Signature Equity Partners, LLC 0.00% of their portfolio COLUMBUS, OH 223223 $6.4k $6.4k 0.00% First filing
58 Nemes Rush Group LLC 0.00% of their portfolio NOVI, MI 116116 $3.3k $3.3k 0.00% Reduced -113 -113
59 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 3333 $950 $950 0.00% New