Vault-13

GLOBAL X FDS PFFD

US PFD ETF · ETP · CUSIP 37954Y657

291 institutional holders -1 vs Q1 2025
67,550,94167.6m shares reported held*
$1.3bnreported value*
27 new 105 added 103 reduced 30 sold out net bought ≈ $116.9m (+6.2m 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 ($357.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $18.82. Options: 1 managers hold calls ($384.1k notional), 0 hold puts (—).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 210Q4 22: 223Q1 23: 230Q2 23: 226Q3 23: 241Q4 23: 268Q1 24: 256Q2 24: 263Q3 24: 272Q4 24: 297Q1 25: 292Q2 25: 291291Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022210
Q4 2022223
Q1 2023230
Q2 2023226
Q3 2023241
Q4 2023268
Q1 2024256
Q2 2024263
Q3 2024272
Q4 2024297
Q1 2025292
Q2 2025291

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 123 bought or addedQ3 23: 94 cut or sold outQ4 23: 118 bought or addedQ4 23: 123 cut or sold outQ4 23Q1 24: 138 bought or addedQ1 24: 115 cut or sold outQ2 24: 138 bought or addedQ2 24: 102 cut or sold outQ2 24Q3 24: 154 bought or addedQ3 24: 94 cut or sold outQ4 24: 144 bought or addedQ4 24: 101 cut or sold outQ4 24Q1 25: 145 bought or addedQ1 25: 123 cut or sold outQ2 25: 132 bought or addedQ2 25: 133 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 202312394
Q4 2023118123
Q1 2024138115
Q2 2024138102
Q3 202415494
Q4 2024144101
Q1 2025145123
Q2 2025132133

Calls vs puts

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

CallsPuts
$0$250k$500k$750k$1mQ3 24 calls: $43.6kQ3 24 puts: $37.4kQ3 24P/C 0.86Q4 24 calls: $339.5kQ4 24 puts: $52.7kQ4 24P/C 0.16Q1 25 calls: $910.1kQ1 25 puts: $394.1kQ1 25P/C 0.43Q2 25 calls: $384.1kQ2 25 puts: $0Q2 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2024$43.6k$37.4k0.86
Q4 2024$339.5k$52.7k0.16
Q1 2025$910.1k$394.1k0.43
Q2 2025$384.1k$00.00

Biggest buyers

Orgel Wealth Management, LLC New +6,963,093+7.0m
New York Life Investment Management LLC Added +1,569,805+1.6m
BANK OF NOVA SCOTIA New +488,900+488.9k
ROYAL BANK OF CANADA Added +404,205+404.2k
WELLS FARGO & COMPANY/MN Added +402,392+402.4k
Global X Japan Co., Ltd. Added +367,420+367.4k
Capitolis Liquid Global Markets LLC New +366,000+366.0k
NATIONAL BANK OF CANADA /FI/ Added +334,900+334.9k
ENVESTNET ASSET MANAGEMENT INC Added +209,405+209.4k
SEI INVESTMENTS CO Added +183,876+183.9k

Biggest sellers

Hennion & Walsh Asset Management, Inc. Reduced -1,562,098-1.6m
LPL Financial LLC Reduced -1,505,094-1.5m
BANK OF AMERICA CORP /DE/ Reduced -738,945-738.9k
Modern Wealth Management, LLC Reduced -544,786-544.8k
KWB Wealth Reduced -370,269-370.3k
Compton Financial Group, LLC Sold out -340,055-340.1k
Integras Partners LLC Sold out -236,650-236.7k
Leicht Financial Planning & Wealth Management, Inc. Sold out -212,644-212.6k
Focus Partners Wealth Reduced -210,978-211.0k
David Kennon Inc Reduced -191,728-191.7k

Biggest calls

CITADEL ADVISORS LLC Reduced $384.1k20.4k shares

Biggest puts

None

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 Orgel Wealth Management, LLC 3.16% of their portfolio ALTOONA, WI 6,963,0937.0m $131.1m $131.1m 3.16% New
2 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 5,665,1485.7m $106.7m $106.7m 0.01% Reduced -738.9k -738,945
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,472,3374.5m $84.2m $84.2m 0.01% Added +166.6k +166,613
4 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 4,170,7824.2m $78.5m $78.5m 0.03% Reduced -1.5m -1,505,094
5 Global X Japan Co., Ltd. 6.76% of their portfolio CHIYODA-KU, TOKYO, M0 3,540,5313.5m $66.7m $66.7m 6.76% Added +367.4k +367,420
6 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,751,1742.8m $51.8m $51.8m 0.01% Added +402.4k +402,392
7 New York Life Investment Management LLC 0.33% of their portfolio New York, NY 1,848,9251.8m $34.8m $34.8m 0.33% Added +1.6m +1,569,805
8 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 1,642,6271.6m $30.9m $30.9m 0.01% Added +209.4k +209,405
9 Lido Advisors, LLC 0.15% of their portfolio Los Angeles, CA 1,537,1671.5m $28.9m $28.9m 0.15% Added +45.0k +45,043
10 Full Sail Capital, LLC 1.52% of their portfolio OKLAHOMA CITY, OK 1,396,0741.4m $26.3m $26.3m 1.52% Reduced -30.8k -30,792
11 CWM, LLC 0.09% of their portfolio OMAHA, NE 1,345,9121.3m $25.3m $25.3m 0.09% Added +19.9k +19,870
12 State of Wisconsin - Board of Commissioners of Public Lands 16.23% of their portfolio MADISON, WI 1,341,3051.3m $25.3m $25.3m 16.23% Unchanged
13 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,121,7841.1m $21.1m $21.1m 0.00% Added +404.2k +404,205
14 RATIONAL ADVISORS, INC. 2.06% of their portfolio San Juan, PR 1,102,4181.1m $20.8m $20.8m 2.06% Added +8.5k +8,471
15 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 1,072,9791.1m $20.2m $20.2m 0.03% Added +119.8k +119,844
16 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,071,4661.1m $20.2m $20.2m 0.00% Added +152.9k +152,864
17 Flaharty Asset Management, LLC 2.69% of their portfolio CLEARWATER, FL 1,043,7411.0m $19.7m $19.7m 2.69% Added +40.2k +40,238
18 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 1,027,0361.0m $19.3m $19.3m 0.02% Reduced -4.3k -4,262
19 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 994,780994.8k $18.7m $18.7m 0.01% Reduced -61.6k -61,558
20 Tiller Private Wealth, Inc. 6.78% of their portfolio BETHLEHEM, PA 947,579947.6k $17.8m $17.8m 6.78% Reduced -20.1k -20,106
21 FUKOKU MUTUAL LIFE INSURANCE Co 1.10% of their portfolio TOKYO, M0 919,000919.0k $17.3m $17.3m 1.10% Unchanged
22 ASSETMARK, INC 0.04% of their portfolio CONCORD, CA 845,138845.1k $15.9m $15.9m 0.04% Added +33.1k +33,139
23 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 813,408813.4k $15.2m $15.2m 0.00% Added +63.0k +63,029
24 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 764,477764.5k $14.4m $14.4m 0.02% Added +183.9k +183,876
25 Steward Partners Investment Advisory, LLC 0.09% of their portfolio STAMFORD, CT 635,671635.7k $12.0m $12.0m 0.09% Added +32.6k +32,581
26 CONNING INC. 0.38% of their portfolio HARTFORD, CT 580,200580.2k $10.9m $10.9m 0.38% Unchanged
27 Columbus Macro, LLC 1.28% of their portfolio NEW CASTLE, PA 554,683554.7k $10.4m $10.4m 1.28% Added +77.2k +77,194
28 BANK OF NOVA SCOTIA 0.02% of their portfolio TORONTO, A6 488,900488.9k $9.2m $9.2m 0.02% New
29 COLLECTIVE FAMILY OFFICE LLC 2.35% of their portfolio YORK, PA 486,072486.1k $9.2m $9.2m 2.35% Reduced -16.0k -15,993
30 PARK AVENUE SECURITIES LLC 0.08% of their portfolio NEW YORK, NY 461,058461.1k $8.7m $8.7m 0.08% Added +24.2k +24,240
31 NAPLES GLOBAL ADVISORS, LLC 0.74% of their portfolio NAPLES, FL 458,365458.4k $8.6m $8.6m 0.74% Added +29.5k +29,518
32 Trinity Legacy Partners, LLC 2.05% of their portfolio HOUSTON, TX 444,869444.9k $8.5m $8.5m 2.05% Reduced -1.7k -1,677
33 AHL INVESTMENT MANAGEMENT, INC. 5.25% of their portfolio Winter Park, FL 417,733417.7k $7.9m $7.9m 5.25% Reduced -1.5k -1,500
34 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 384,175384.2k $7.2m $7.2m 0.02% Added +79.3k +79,283
35 Capitolis Liquid Global Markets LLC 0.05% of their portfolio NEW YORK, NY 366,000366.0k $6.9m $6.9m 0.05% New
36 Collaborative Wealth Managment Inc. 2.99% of their portfolio LAKE MARY, FL 364,576364.6k $6.9m $6.9m 2.99% Reduced -50.3k -50,255
37 Prairiewood Capital, LLC 2.53% of their portfolio FARGO, ND 361,425361.4k $6.8m $6.8m 2.53% Added +22.6k +22,636
38 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio CAUSEWAY BAY, K3 351,882351.9k $6.6m $6.6m 0.01% Added +31.7k +31,719
39 Kestra Advisory Services, LLC 0.03% of their portfolio AUSTIN, TX 351,065351.1k $6.6m $6.6m 0.03% Added +35.3k +35,344
40 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 334,995335.0k $6.3m $6.3m 0.01% Added +334.9k +334,900
41 AIRE ADVISORS, LLC 1.21% of their portfolio BEVERLY HILLS, CA 332,235332.2k $6.3m $6.3m 1.21% Reduced -9.0k -8,971
42 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 317,869317.9k $6.0m $6.0m 0.01% Reduced -21.2k -21,161
43 Iron Horse Wealth Management, LLC 1.69% of their portfolio JOHSTON, IA 304,662304.7k $5.7m $5.7m 1.69% Added +4.5k +4,523
44 MAI Capital Management 0.04% of their portfolio INDEPENDENCE, OH 301,958302.0k $5.7m $5.7m 0.04% Reduced -38.6k -38,574
45 Sound Income Strategies, LLC 0.30% of their portfolio FT LAUDERDALE, FL 274,715274.7k $5.2m $5.2m 0.30% Reduced -3.2k -3,249
46 WealthTrust Axiom LLC 1.48% of their portfolio WAYNE, PA 267,231267.2k $5.0m $5.0m 1.48% Reduced -5.2k -5,156
47 SWS Partners 1.35% of their portfolio COLUMBUS, OH 265,414265.4k $5.0m $5.0m 1.35% Added +16.2k +16,204
48 Texas Yale Capital Corp. 0.16% of their portfolio ST. PETERSBURG, FL 263,229263.2k $5.0m $5.0m 0.16% Reduced -12.0k -12,030
49 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 234,527234.5k $4.4m $4.4m 0.01% Added +3.9k +3,944
50 Robertson Stephens Wealth Management, LLC 0.15% of their portfolio San Francisco, CA 232,944232.9k $4.4m $4.4m 0.15% Added +15.7k +15,674
51 David Kennon Inc 1.62% of their portfolio SARASOTA, FL 229,687229.7k $4.3m $4.3m 1.62% Reduced -191.7k -191,728
52 APPLETON PARTNERS INC/MA 0.29% of their portfolio BOSTON, MA 214,421214.4k $4.0m $4.0m 0.29% Reduced -13.0k -13,008
53 EAGLE HARBOR ASSET MANAGEMENT INC /ADV 3.74% of their portfolio SEATTLE, WA 205,820205.8k $3.9m $3.9m 3.74% Added +26.3k +26,288
54 SBI Securities Co., Ltd. 0.11% of their portfolio TOKYO, M0 202,324202.3k $3.8m $3.8m 0.11% Reduced -94.5k -94,546
55 Mariner, LLC 0.01% of their portfolio Overland Park, KS 202,028202.0k $3.8m $3.8m 0.01% Reduced -8.3k -8,279
56 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 201,917201.9k $3.8m $3.8m 0.01% Added +72.7k +72,660
57 Blue Edge Capital, LLC 0.54% of their portfolio RICHMOND, VA 191,463191.5k $3.6m $3.6m 0.54% Reduced -3.9k -3,898
58 Fifth Third Securities, Inc. 0.24% of their portfolio Cincinnati, OH 170,221170.2k $3.2m $3.2m 0.24% Added +10.4k +10,381
59 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 162,658162.7k $3.1m $3.1m 0.00% Added +20.7k +20,734
60 AlphaCore Capital LLC 0.11% of their portfolio LA JOLLA, CA 155,310155.3k $2.9m $2.9m 0.11% Reduced -161 -161
61 Global Retirement Partners, LLC 0.07% of their portfolio San Rafael, CA 153,749153.7k $2.9m $2.9m 0.07% First filing
62 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 150,010150.0k $2.8m $2.8m 0.01% Reduced -5.6k -5,620
63 Rockport Wealth LLC 0.64% of their portfolio Fairview Park, OH 147,555147.6k $2.8m $2.8m 0.64% Added +10.3k +10,334
64 Gerber Kawasaki Wealth & Investment Management 0.11% of their portfolio SANTA MONICA, CA 146,108146.1k $2.8m $2.8m 0.11% Added +21.3k +21,335
65 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 140,669140.7k $2.6m $2.6m 0.00% Reduced -188.5k -188,515
66 Plan Group Financial, LLC 0.87% of their portfolio OKLAHOMA CITY, OK 140,494140.5k $2.6m $2.6m 0.87% Added +72.7k +72,705
67 &PARTNERS 0.02% of their portfolio NASHVILLE, TN 137,514137.5k $2.6m $2.6m 0.02% Added +16.1k +16,087
68 Stratos Wealth Partners, LTD. 0.03% of their portfolio BEACHWOOD, OH 137,491137.5k $2.6m $2.6m 0.03% Reduced -6.7k -6,682
69 GREAT VALLEY ADVISOR GROUP, INC. 0.06% of their portfolio WILMINGTON, DE 137,438137.4k $2.6m $2.6m 0.06% Added +17.9k +17,936
70 Grey Ledge Advisors, LLC 0.43% of their portfolio GUILFORD, CT 135,355135.4k $1.8m $1.8m 0.43% Added +19.2k +19,188
71 Note Advisors, LLC 1.69% of their portfolio BUFFALO, NY 129,976130.0k $2.4m $2.4m 1.69% Added +9.7k +9,749
72 Crews Bank & Trust 0.37% of their portfolio PORT CHARLOTTE, FL 125,380125.4k $2.4m $2.4m 0.37% Added +8.4k +8,375
73 First Interstate Bank 0.13% of their portfolio Billings, MT 121,662121.7k $2.3m $2.3m 0.13% New
74 Gladstone Institutional Advisory LLC 0.09% of their portfolio Bedminster, NJ 121,199121.2k $2.3m $2.3m 0.09% Reduced -2.9k -2,876
75 Prepared Retirement Institute LLC 1.32% of their portfolio LANSDALE, PA 118,938118.9k $2.2m $2.2m 1.32% Reduced -13.1k -13,063
76 Vestmark Advisory Solutions, Inc. 0.03% of their portfolio Wakefield, MA 118,666118.7k $2.2m $2.2m 0.03% Added +71.1k +71,133
77 Trajan Wealth LLC 0.11% of their portfolio SCOTTSDALE, AZ 117,312117.3k $2.2m $2.2m 0.11% Reduced -6.9k -6,901
78 Traub Capital Management LLC 1.91% of their portfolio NEEDHAM, MA 109,627109.6k $2.1m $2.1m 1.91% First filing
79 Quadrature Capital Ltd 0.03% of their portfolio LONDON, X0 103,685103.7k $2.0m $2.0m 0.03% New
80 Cyndeo Wealth Partners, LLC 0.11% of their portfolio ST. PETERSBURG, FL 98,43998.4k $1.9m $1.9m 0.11% Unchanged
81 Kestra Investment Management, LLC 0.03% of their portfolio AUSTIN, TX 98,34898.3k $1.9m $1.9m 0.03% Reduced -13.2k -13,184
82 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 98,02098.0k $1.8m $1.8m 0.00% Added +49.7k +49,687
83 CIBC WORLD MARKETS CORP 0.01% of their portfolio NEW YORK, NY 97,35497.4k $1.8m $1.8m 0.01% Added +5.2k +5,182
84 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 93,08493.1k $1.8m $1.8m 0.01% Added +2.5k +2,490
85 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 90,23890.2k $1.7m $1.7m 0.01% Added +7.7k +7,671
86 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 90,17090.2k $1.7m $1.7m 0.01% Reduced -79.7k -79,691
87 CreativeOne Wealth, LLC 0.04% of their portfolio OVERLAND PARK, KS 87,06187.1k $1.6m $1.6m 0.04% Added +3.3k +3,299
88 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 86,60086.6k $1.6m $1.6m 0.00% Unchanged
89 FF Advisors,LLC 0.81% of their portfolio MANHATTAN BEACH, CA 82,89182.9k $1.6m $1.6m 0.81% Added +4.2k +4,225
90 PRINCIPAL SECURITIES, INC. 0.03% of their portfolio DES MOINES, IA 81,16781.2k $1.5m $1.5m 0.03% Added +4.3k +4,306
91 Apollon Financial, LLC 0.32% of their portfolio MOUNT PLEASANT, SC 80,46380.5k $1.5m $1.5m 0.32% Reduced -4.4k -4,370
92 Mutual Advisors, LLC 0.04% of their portfolio OMAHA, NE 74,38374.4k $1.4m $1.4m 0.04% Reduced -1.5k -1,524
93 Investors Research Corp 0.27% of their portfolio ATLANTA, GA 74,37074.4k $1.4m $1.4m 0.27% Reduced -940 -940
94 Perissos Private Wealth Management, LLC 1.07% of their portfolio BETHANY, OK 72,19272.2k $1.4m $1.4m 1.07% Reduced -11.8k -11,835
95 Eagle Strategies LLC 0.20% of their portfolio NEW YORK, NY 70,36070.4k $1.3m $1.3m 0.20% Added +15.5k +15,488
96 Advisors Capital Management, LLC 0.02% of their portfolio RIDGEWOOD, NJ 68,86268.9k $1.3m $1.3m 0.02% Added +280 +280
97 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 68,15968.2k $1.3m $1.3m 0.01% Added +2.0k +1,977
98 L & S Advisors Inc 0.13% of their portfolio Los Angeles, CA 67,16167.2k $1.3m $1.3m 0.13% Added +28.0k +28,025
99 DUNCKER STREETT & CO INC 0.23% of their portfolio St. Louis, MO 67,13967.1k $1.3m $1.3m 0.23% Reduced -1.8k -1,773
100 Apella Capital, LLC 0.03% of their portfolio WEST HARTFORD, CT 66,50266.5k $1.3m $1.3m 0.03% New