Vault-13

FLEXSHARES TR GUNR

MORNSTAR UPSTR · ETP · CUSIP 33939L407

254 institutional holders -17 vs Q2 2025
100,914,391100.9m shares reported held*
$4.4bnreported value*
15 new 90 added 90 reduced 27 sold out net bought ≈ $82.6m (+1.9m 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 ($441.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $43.79.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 274Q4 22: 278Q1 23: 294Q2 23: 290Q3 23: 287Q4 23: 295Q1 24: 282Q2 24: 283Q3 24: 268Q4 24: 292Q1 25: 264Q2 25: 271Q3 25: 254254Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022274
Q4 2022278
Q1 2023294
Q2 2023290
Q3 2023287
Q4 2023295
Q1 2024282
Q2 2024283
Q3 2024268
Q4 2024292
Q1 2025264
Q2 2025271
Q3 2025254

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 121 bought or addedQ4 23: 129 cut or sold outQ1 24: 108 bought or addedQ1 24: 149 cut or sold outQ1 24Q2 24: 109 bought or addedQ2 24: 142 cut or sold outQ3 24: 107 bought or addedQ3 24: 140 cut or sold outQ3 24Q4 24: 121 bought or addedQ4 24: 125 cut or sold outQ1 25: 95 bought or addedQ1 25: 154 cut or sold outQ1 25Q2 25: 118 bought or addedQ2 25: 112 cut or sold outQ3 25: 105 bought or addedQ3 25: 117 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023121129
Q1 2024108149
Q2 2024109142
Q3 2024107140
Q4 2024121125
Q1 202595154
Q2 2025118112
Q3 2025105117

Biggest buyers

COMMON FUND FOR NONPROFIT ORGANIZATIONS New +4,395,091+4.4m
Aaron Wealth Advisors LLC Added +295,171+295.2k
EVOKE WEALTH, LLC Added +233,954+234.0k
BANK OF AMERICA CORP /DE/ Added +144,850+144.8k
BESSEMER GROUP INC Added +63,014+63.0k
Barry Investment Advisors, LLC Added +62,531+62.5k
Versant Capital Management, Inc Added +49,610+49.6k
Valmark Advisers, Inc. Added +47,268+47.3k
Pathway Financial Advisors LLC Added +42,517+42.5k
MORGAN STANLEY Added +41,335+41.3k

Biggest sellers

NORTHERN TRUST CORP Reduced -2,623,220-2.6m
FLOW TRADERS U.S. LLC Sold out -305,377-305.4k
ROYAL BANK OF CANADA Reduced -218,470-218.5k
CITADEL ADVISORS LLC Reduced -117,071-117.1k
Cullen/Frost Bankers, Inc. Reduced -76,911-76.9k
AMERIPRISE FINANCIAL INC Reduced -61,178-61.2k
JANE STREET GROUP, LLC Reduced -58,076-58.1k
GREENLEAF TRUST Reduced -50,336-50.3k
SVB WEALTH LLC Reduced -39,543-39.5k
VPR Management LLC Reduced -30,603-30.6k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NORTHERN TRUST CORP 0.38% of their portfolio CHICAGO, IL 67,065,21267.1m $2.9bn $2.9bn 0.38% Reduced -2.6m -2,623,220
2 COMMON FUND FOR NONPROFIT ORGANIZATIONS 16.54% of their portfolio NORWALK, CT 4,395,0914.4m $192.4m $192.4m 16.54% New
3 EVOKE WEALTH, LLC 3.84% of their portfolio Los Angeles, CA 4,205,2264.2m $184.1m $184.1m 3.84% Added +234.0k +233,954
4 Valmark Advisers, Inc. 2.00% of their portfolio AKRON, OH 3,536,5263.5m $154.8m $154.8m 2.00% Added +47.3k +47,268
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,829,3541.8m $80.1m $80.1m 0.00% Added +41.3k +41,335
6 First Interstate Bank 3.53% of their portfolio Billings, MT 1,459,3991.5m $63.9m $63.9m 3.53% Added +38.1k +38,053
7 MOLLER WEALTH PARTNERS 10.08% of their portfolio NORTHFIELD, IL 1,103,6421.1m $48.3m $48.3m 10.08% Reduced -13.7k -13,660
8 1832 Asset Management L.P. 0.07% of their portfolio TORONTO, A6 945,990946.0k $41.4m $41.4m 0.07% Reduced -14.0k -14,013
9 NBT BANK, N.A. 2.68% of their portfolio NORWICH, NY 938,311938.3k $41.1m $41.1m 2.68% Reduced -12.4k -12,434
10 CONNABLE OFFICE INC 3.80% of their portfolio KALAMAZOO, MI 936,961937.0k $41.0m $41.0m 3.80% Reduced -102 -102
11 Aaron Wealth Advisors LLC 2.37% of their portfolio Chicago, IL 894,261894.3k $39.2m $39.2m 2.37% Added +295.2k +295,171
12 Versant Capital Management, Inc 3.35% of their portfolio PHOENIX, AZ 561,696561.7k $24.6m $24.6m 3.35% Added +49.6k +49,610
13 Hills Bank & Trust Co 1.41% of their portfolio North Liberty, IA 547,226547.2k $24.0m $24.0m 1.41% Added +5.0k +4,957
14 Pure Financial Advisors, LLC 0.38% of their portfolio SAN DIEGO, CA 545,097545.1k $23.9m $23.9m 0.38% Reduced -5.0k -4,955
15 VPR Management LLC 9.90% of their portfolio HOUSTON, TX 497,600497.6k $21.8m $21.8m 9.90% Reduced -30.6k -30,603
16 Barry Investment Advisors, LLC 4.62% of their portfolio NEW BEDFORD, MA 458,382458.4k $20.1m $20.1m 4.62% Added +62.5k +62,531
17 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 447,170447.2k $19.6m $19.6m 0.00% Added +144.8k +144,850
18 MERCER GLOBAL ADVISORS INC /ADV 0.03% of their portfolio DENVER, CO 421,397421.4k $18.4m $18.4m 0.03% Added +7.8k +7,836
19 Colony Family Offices, LLC 4.67% of their portfolio CHARLOTTE, NC 412,129412.1k $18.0m $18.0m 4.67% Reduced -5.0k -5,044
20 CENTRAL TRUST Co 0.34% of their portfolio JEFFERSON CITY, MO 375,055375.1k $16.4m $16.4m 0.34% Added +7.0k +6,992
21 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 371,566371.6k $16.3m $16.3m 0.01% Reduced -27.6k -27,616
22 Pathway Financial Advisors LLC 2.16% of their portfolio SOUTH BURLINGTON, VT 369,776369.8k $16.2m $16.2m 2.16% Added +42.5k +42,517
23 Navalign, LLC 4.25% of their portfolio ENCINO, CA 368,310368.3k $16.1m $16.1m 4.25% Added +2.6k +2,601
24 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 314,701314.7k $13.8m $13.8m 0.00% Reduced -61.2k -61,178
25 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 301,020301.0k $13.2m $13.2m 0.00% Added +34.3k +34,252
26 Farmers National Bank 2.88% of their portfolio DANVILLE, KY 277,533277.5k $12.2m $12.2m 2.88% Added +6.8k +6,831
27 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 241,174241.2k $10.6m $10.6m 0.00% Reduced -9.8k -9,784
28 UBS Group AG 0.00% of their portfolio ZURICH, V8 218,461218.5k $9.6m $9.6m 0.00% Added +10.2k +10,150
29 STEPH & CO 2.87% of their portfolio MARINETTE, WI 214,864214.9k $9.4m $9.4m 2.87% Reduced -1.4k -1,432
30 Envestnet Portfolio Solutions, Inc. 0.03% of their portfolio BERWYN, PA 210,736210.7k $9.2m $9.2m 0.03% Reduced -15.9k -15,853
31 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 195,278195.3k $8.6m $8.6m 0.00% Reduced -218.5k -218,470
32 BESSEMER GROUP INC 0.01% of their portfolio WOODBRIDGE, NJ 188,681188.7k $8.3m $8.3m 0.01% Added +63.0k +63,014
33 ARKANSAS FINANCIAL GROUP, INC. 1.20% of their portfolio LITTLE ROCK, AR 186,406186.4k $8.2m $8.2m 1.20% Reduced -11.0k -10,976
34 Wealthcare Advisory Partners LLC 0.17% of their portfolio WEST CHESTER, PA 184,566184.6k $8.1m $8.1m 0.17% Added +5.0k +5,028
35 Ledyard National Bank 0.71% of their portfolio HANOVER, NH 181,584181.6k $7.9m $7.9m 0.71% Added +3.2k +3,183
36 United Bank 2.70% of their portfolio Zebulon, GA 177,179177.2k $7.8m $7.8m 2.70% Added +4.8k +4,786
37 Brio Consultants, LLC 1.05% of their portfolio SAN FRANCISCO, CA 173,952174.0k $7.6m $7.6m 1.05% Added +5.5k +5,464
38 MAI Capital Management 0.05% of their portfolio INDEPENDENCE, OH 173,137173.1k $7.6m $7.6m 0.05% Added +8.2k +8,245
39 Pasadena Private Wealth, LLC 1.07% of their portfolio PASADENA, CA 169,243169.2k $7.4m $7.4m 1.07% Added +20.3k +20,275
40 CoreCap Advisors, LLC 0.26% of their portfolio SOUTHFIELD, MI 164,093164.1k $7.2m $7.2m 0.26% Added +2.3k +2,288
41 Avos Capital Management, LLC 3.23% of their portfolio SEATTLE, WA 158,207158.2k $6.9m $6.9m 3.23% Added +19.4k +19,354
42 Austin Wealth Management, LLC 1.06% of their portfolio Austin, TX 155,461155.5k $6.8m $6.8m 1.06% Added +5.1k +5,113
43 IAG Wealth Partners, LLC 0.79% of their portfolio WAUKESHA, WI 149,486149.5k $6.5m $6.5m 0.79% Added +17.1k +17,092
44 Roehl & Yi Investment Advisors, LLC 2.64% of their portfolio Eugene, OR 138,477138.5k $6.1m $6.1m 2.64% Reduced -3.7k -3,704
45 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 135,172135.2k $5.9m $5.9m 0.01% Added +4.8k +4,816
46 Cornerstone National Bank & Trust Co 2.22% of their portfolio PALATINE, IL 124,588124.6k $5.5m $5.5m 2.22% Added +2.0k +1,951
47 Boltwood Capital Management 1.37% of their portfolio WALNUT CREEK, CA 117,197117.2k $5.1m $5.1m 1.37% Reduced -1.5k -1,486
48 S. R. Schill & Associates 3.53% of their portfolio MERCER ISLAND, WA 114,816114.8k $5.0m $5.0m 3.53% Reduced -1.7k -1,742
49 Fermata Advisors, LLC 1.20% of their portfolio SONOMA, CA 108,254108.3k $4.7m $4.7m 1.20% Reduced -5.3k -5,253
50 Cullen/Frost Bankers, Inc. 0.05% of their portfolio San Antonio, TX 107,933107.9k $4.7m $4.7m 0.05% Reduced -76.9k -76,911
51 Beacon Pointe Advisors, LLC 0.04% of their portfolio NEWPORT BEACH, CA 99,66499.7k $4.4m $4.4m 0.04% Reduced -17.2k -17,178
52 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 96,71196.7k $4.2m $4.2m 0.00% Added +2.8k +2,835
53 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 90,86290.9k $4.0m $4.0m 0.00% Reduced -2.0k -1,986
54 Clark Capital Management Group, Inc. 0.02% of their portfolio PHILADELPHIA, PA 86,23486.2k $3.8m $3.8m 0.02% Reduced -28.0k -27,970
55 Missouri Trust & Investment Co 0.92% of their portfolio SPRINGFIELD, MO 70,92770.9k $3.1m $3.1m 0.92% Reduced -295 -295
56 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 70,56470.6k $3.1m $3.1m 0.00% Added +37.0k +37,004
57 Walkner Condon Financial Advisors LLC 0.47% of their portfolio MADISON, WI 68,12168.1k $3.0m $3.0m 0.47% Reduced -403 -403
58 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 62,68362.7k $2.7m $2.7m 0.01% Added +977 +977
59 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 61,55461.6k $2.7m $2.7m 0.00% Reduced -21.1k -21,073
60 HORIZON BANCORP INC /IN/ 1.28% of their portfolio MICHIGAN CITY, IN 61,26961.3k $2.7m $2.7m 1.28% Reduced -2.9k -2,902
61 Sageworth Trust Co 0.12% of their portfolio LANCASTER, PA 61,21761.2k $2.7m $2.7m 0.12% Unchanged
62 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 60,72160.7k $2.7m $2.7m 0.00% Reduced -58.1k -58,076
63 VeraBank, N.A. 0.49% of their portfolio HENDERSON, TX 59,92259.9k $2.6m $2.6m 0.49% Reduced -7.9k -7,931
64 Smallwood Wealth Investment Management, LLC 1.30% of their portfolio RED BANK, NJ 57,89657.9k $2.5m $2.5m 1.30% Added +2.1k +2,116
65 AlTi Global, Inc. 0.06% of their portfolio NEW YORK, NY 55,73255.7k $2.4m $2.4m 0.06% Added +442 +442
66 CVA Family Office, LLC 0.30% of their portfolio DENVER, CO 53,43253.4k $2.3m $2.3m 0.30% Reduced -160 -160
67 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 53,38853.4k $2.3m $2.3m 0.00% Added +30.0k +29,957
68 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 53,06853.1k $2.3m $2.3m 0.00% Added +31.3k +31,283
69 Purkiss Capital Advisors LLC 1.09% of their portfolio RIDGEFIELD, CT 51,89051.9k $2.3m $2.3m 1.09% Reduced -225 -225
70 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 48,64148.6k $2.1m $2.1m 0.01% Added +5.1k +5,147
71 MONECO ADVISORS, LLC 0.17% of their portfolio FAIRFIELD, CT 46,15446.2k $2.0m $2.0m 0.17% Added +273 +273
72 Etesian Wealth Advisors, Inc. 0.67% of their portfolio West Linn, OR 46,00346.0k $2.0m $2.0m 0.67% Reduced -7.0k -6,952
73 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 45,03845.0k $2.0m $2.0m 0.00% Added +38.6k +38,579
74 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 42,24642.2k $1.8m $1.8m 0.00% Reduced -23.1k -23,078
75 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 41,76341.8k $1.8m $1.8m 0.00% Added +3.2k +3,164
76 ENTREWEALTH, LLC 0.86% of their portfolio AUSTIN, TX 38,32938.3k $1.7m $1.7m 0.86% Added +3.0k +2,964
77 SIMON QUICK ADVISORS, LLC 0.07% of their portfolio MORRISTOWN, NJ 35,34935.3k $1.5m $1.5m 0.07% Added +13.0k +12,998
78 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 35,03635.0k $1.5m $1.5m 0.00% Added +3.0k +3,047
79 Spire Wealth Management 0.05% of their portfolio MCLEAN, VA 34,96135.0k $1.5m $1.5m 0.05% Added +105 +105
80 Redwood Park Advisors LLC 1.12% of their portfolio Redwood City, CA 34,32934.3k $1.5m $1.5m 1.12% Added +1.8k +1,836
81 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 33,74633.7k $1.5m $1.5m 0.00% Reduced -900 -900
82 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 33,69733.7k $1.5m $1.5m 0.02% New
83 PARK NATIONAL CORP /OH/ 0.05% of their portfolio NEWARK, OH 32,99033.0k $1.4m $1.4m 0.05% Added +10.8k +10,813
84 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 32,43932.4k $1.4m $1.4m 0.00% Added +302 +302
85 TRANSCEND CAPITAL ADVISORS, LLC 0.10% of their portfolio MADISON, NJ 31,77931.8k $1.4m $1.4m 0.10% Added +239 +239
86 GREENLEAF TRUST 0.01% of their portfolio KALAMAZOO, MI 31,15331.2k $1.4m $1.4m 0.01% Reduced -50.3k -50,336
87 Advisory Services Network, LLC 0.02% of their portfolio ATLANTA, GA 29,54029.5k $1.3m $1.3m 0.02% Reduced -860 -860
88 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 28,44128.4k $1.2m $1.2m 0.00% Added +18.3k +18,341
89 Smartleaf Asset Management LLC 0.08% of their portfolio BOSTON, MA 28,30428.3k $1.2m $1.2m 0.08% Added +24.9k +24,946
90 Granite Harbor Advisors, Inc. 0.52% of their portfolio Houston, TX 28,22928.2k $1.2m $1.2m 0.52% Unchanged
91 STUDIO INVESTMENT MANAGEMENT LLC 0.23% of their portfolio CHICAGO, IL 28,03528.0k $1.2m $1.2m 0.23% Reduced -335 -335
92 NICOLET BANKSHARES INC 0.20% of their portfolio GREEN BAY, WI 27,97528.0k $1.2m $1.2m 0.20% Reduced -12.5k -12,541
93 SVB WEALTH LLC 0.07% of their portfolio BOSTON, MA 27,60627.6k $1.2m $1.2m 0.07% Reduced -39.5k -39,543
94 LRI Investments, LLC 0.10% of their portfolio PALM BEACH GARDENS, FL 26,85326.9k $1.2m $1.2m 0.10% Reduced -25 -25
95 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 26,17126.2k $1.1m $1.1m 0.00% Added +2.5k +2,524
96 FIRST FINANCIAL CORP /IN/ 0.45% of their portfolio TERRE HAUTE, IN 25,96526.0k $1.1m $1.1m 0.45% Added +24.5k +24,480
97 Y-Intercept (Hong Kong) Ltd 0.03% of their portfolio HONG KONG, K3 25,81425.8k $1.1m $1.1m 0.03% Added +4.5k +4,521
98 COMERICA BANK 0.00% of their portfolio DALLAS, TX 25,72125.7k $1.1m $1.1m 0.00% Reduced -993 -993
99 Wealthcare Capital Partners, LLC 0.52% of their portfolio WEST CHESTER, PA 25,69125.7k $1.1m $1.1m 0.52% Added +2.0k +1,960
100 KEYBANK NATIONAL ASSOCIATION/OH 0.00% of their portfolio BROOKLYN, OH 25,39125.4k $1.1m $1.1m 0.00% Added +350 +350