Vault-13

GLOBAL X FDS PFFD

US PFD ETF · ETP · CUSIP 37954Y657

284 institutional holders -1 vs Q4 2025
65,320,02465.3m shares reported held*
$1.2bnreported value*
29 new 106 added 93 reduced 24 sold out net bought ≈ $75.3m (+4.1m 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 ($1.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $18.40.

Trends to Q1 2026

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: 291Q3 25: 282Q4 25: 285Q1 26: 284284Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025282
Q4 2025285
Q1 2026284

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 138 bought or addedQ2 24: 102 cut or sold outQ3 24: 154 bought or addedQ3 24: 94 cut or sold outQ3 24Q4 24: 144 bought or addedQ4 24: 101 cut or sold outQ1 25: 145 bought or addedQ1 25: 123 cut or sold outQ1 25Q2 25: 132 bought or addedQ2 25: 133 cut or sold outQ3 25: 131 bought or addedQ3 25: 118 cut or sold outQ3 25Q4 25: 125 bought or addedQ4 25: 127 cut or sold outQ1 26: 135 bought or addedQ1 26: 117 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024138102
Q3 202415494
Q4 2024144101
Q1 2025145123
Q2 2025132133
Q3 2025131118
Q4 2025125127
Q1 2026135117

Calls vs puts

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

CallsPuts
$0$100k$200k$300k$400kQ2 25 calls: $384.1kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $227.3kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $228.8kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$384.1k$00.00
Q3 2025$227.3k$00.00
Q4 2025$228.8k$00.00
Q1 2026$0$0—

Biggest buyers

Global X Japan Co., Ltd. New +3,418,081+3.4m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +1,546,736+1.5m
BESSEMER GROUP INC New +1,001,871+1.0m
ENVESTNET ASSET MANAGEMENT INC Added +573,350+573.4k
Thrivent Financial for Lutherans New +294,844+294.8k
Independent Advisor Alliance New +208,586+208.6k
RATIONAL ADVISORS, INC. Added +200,283+200.3k
Cetera Investment Advisers Added +182,979+183.0k
Baird Financial Group, Inc. New +181,630+181.6k
Columbus Macro, LLC Added +167,907+167.9k

Biggest sellers

CWM, LLC Reduced -1,318,217-1.3m
BANK OF AMERICA CORP /DE/ Reduced -706,135-706.1k
MERCER GLOBAL ADVISORS INC /ADV Reduced -538,509-538.5k
New York Life Investment Management LLC Reduced -367,890-367.9k
Orgel Wealth Management, LLC Reduced -324,397-324.4k
LPL Financial LLC Reduced -235,171-235.2k
David Kennon Inc Reduced -176,050-176.1k
Collaborative Wealth Managment Inc. Reduced -160,274-160.3k
ROYAL BANK OF CANADA Reduced -147,371-147.4k
Note Advisors, LLC Reduced -123,768-123.8k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Orgel Wealth Management, LLC 2.79% of their portfolio ALTOONA, WI 7,045,8717.0m $129.6m $129.6m 2.79% Reduced -324.4k -324,397
2 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 5,305,8925.3m $97.6m $97.6m 0.01% Reduced -706.1k -706,135
3 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 3,610,1033.6m $66.4m $66.4m 0.02% Reduced -235.2k -235,171
4 Global X Japan Co., Ltd. 3.23% of their portfolio CHIYODA-KU, TOKYO, M0 3,418,0813.4m $62.9m $62.9m 3.23% New
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,861,7162.9m $52.7m $52.7m 0.00% Reduced -106.6k -106,636
6 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,560,2412.6m $47.1m $47.1m 0.01% Reduced -116.0k -115,981
7 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 2,249,6402.2m $41.4m $41.4m 0.01% Added +573.4k +573,350
8 Lido Advisors, LLC 0.12% of their portfolio Los Angeles, CA 1,642,8831.6m $30.2m $30.2m 0.12% Added +117.6k +117,625
9 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 1,582,7171.6m $29.1m $29.1m 0.04% Added +1.5m +1,546,736
10 FUKOKU MUTUAL LIFE INSURANCE Co 1.87% of their portfolio TOKYO, M0 1,551,0001.6m $28.5m $28.5m 1.87% Unchanged
11 State of Wisconsin - Board of Commissioners of Public Lands 16.25% of their portfolio MADISON, WI 1,341,3051.3m $24.7m $24.7m 16.25% Unchanged
12 New York Life Investment Management LLC 0.21% of their portfolio New York, NY 1,325,5771.3m $24.4m $24.4m 0.21% Reduced -367.9k -367,890
13 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 1,254,4261.3m $23.1m $23.1m 0.02% Added +183.0k +182,979
14 RATIONAL ADVISORS, INC. 2.35% of their portfolio San Juan, PR 1,249,8201.2m $23.0m $23.0m 2.35% Added +200.3k +200,283
15 Flaharty Asset Management, LLC 2.62% of their portfolio CLEARWATER, FL 1,145,7661.1m $21.1m $21.1m 2.62% Added +22.8k +22,827
16 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 1,116,7431.1m $20.5m $20.5m 0.02% Added +123.4k +123,362
17 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 1,038,3411.0m $19.1m $19.1m 0.01% Added +12.0k +11,985
18 BESSEMER GROUP INC 0.03% of their portfolio WOODBRIDGE, NJ 1,001,8711.0m $18.4m $18.4m 0.03% New
19 Tiller Private Wealth, Inc. 6.48% of their portfolio BETHLEHEM, PA 990,412990.4k $18.2m $18.2m 6.48% Added +28.9k +28,865
20 Columbus Macro, LLC 1.81% of their portfolio NEW CASTLE, PA 919,406919.4k $16.9m $16.9m 1.81% Added +167.9k +167,907
21 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 862,915862.9k $15.9m $15.9m 0.02% Reduced -538.5k -538,509
22 ASSETMARK, INC 0.03% of their portfolio CONCORD, CA 862,293862.3k $15.9m $15.9m 0.03% Added +9.9k +9,912
23 MAI Capital Management 0.08% of their portfolio INDEPENDENCE, OH 719,883719.9k $13.2m $13.2m 0.08% Added +32.4k +32,437
24 COLLECTIVE FAMILY OFFICE LLC 2.89% of their portfolio YORK, PA 697,288697.3k $12.8m $12.8m 2.89% Added +89.9k +89,912
25 Steward Partners Investment Advisory, LLC 0.06% of their portfolio STAMFORD, CT 685,457685.5k $12.6m $12.6m 0.06% Added +17.4k +17,381
26 UBS Group AG 0.00% of their portfolio ZURICH, V8 675,763675.8k $12.4m $12.4m 0.00% Reduced -27.9k -27,907
27 NAPLES GLOBAL ADVISORS, LLC 0.79% of their portfolio NAPLES, FL 592,095592.1k $10.9m $10.9m 0.79% Added +56.2k +56,229
28 CONNING INC. 0.35% of their portfolio HARTFORD, CT 580,200580.2k $10.7m $10.7m 0.35% Unchanged
29 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 575,448575.4k $10.6m $10.6m 0.00% Reduced -147.4k -147,371
30 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 565,389565.4k $10.4m $10.4m 0.00% Added +106.6k +106,640
31 Carnegie Investment Counsel 0.18% of their portfolio PEPPER PIKE, OH 497,028497.0k $9.1m $9.1m 0.18% Added +102.3k +102,320
32 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio CAUSEWAY BAY, K3 440,536440.5k $8.1m $8.1m 0.01% Added +33.4k +33,382
33 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 415,612415.6k $7.6m $7.6m 0.02% Reduced -55.1k -55,079
34 Prairiewood Capital, LLC 2.14% of their portfolio FARGO, ND 402,800402.8k $7.4m $7.4m 2.14% Added +16.4k +16,399
35 AlphaStar Capital Management, LLC 0.52% of their portfolio CORNELIUS, NC 382,928382.9k $7.0m $7.0m 0.52% Added +80.9k +80,921
36 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 376,775376.8k $6.9m $6.9m 0.00% Reduced -89.2k -89,157
37 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 358,305358.3k $6.6m $6.6m 0.02% Reduced -18.9k -18,857
38 Texas Yale Capital Corp. 0.18% of their portfolio ST. PETERSBURG, FL 351,378351.4k $6.5m $6.5m 0.18% Added +10.8k +10,788
39 AIRE ADVISORS, LLC 1.17% of their portfolio BEVERLY HILLS, CA 348,970349.0k $6.4m $6.4m 1.17% Added +16.0k +15,979
40 PARK AVENUE SECURITIES LLC 0.05% of their portfolio NEW YORK, NY 336,564336.6k $6.2m $6.2m 0.05% Reduced -70.3k -70,285
41 WealthTrust Axiom LLC 1.49% of their portfolio WAYNE, PA 329,514329.5k $6.1m $6.1m 1.49% Added +2.4k +2,447
42 SWS Partners 1.43% of their portfolio COLUMBUS, OH 314,551314.6k $5.8m $5.8m 1.43% Added +13.5k +13,473
43 Plan Group Financial, LLC 1.33% of their portfolio OKLAHOMA CITY, OK 307,627307.6k $5.7m $5.7m 1.33% Added +22.3k +22,269
44 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 305,456305.5k $5.6m $5.6m 0.00% Reduced -91.1k -91,100
45 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 294,844294.8k $5.4m $5.4m 0.01% New
46 Apella Capital, LLC 0.08% of their portfolio WEST HARTFORD, CT 283,436283.4k $5.4m $5.4m 0.08% Reduced -11.2k -11,238
47 EAGLE HARBOR ASSET MANAGEMENT INC /ADV 3.99% of their portfolio SEATTLE, WA 253,450253.4k $4.7m $4.7m 3.99% Added +17.3k +17,296
48 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 232,706232.7k $4.3m $4.3m 0.00% Reduced -18.3k -18,339
49 Sound Income Strategies, LLC 0.20% of their portfolio FT LAUDERDALE, FL 230,743230.7k $4.2m $4.2m 0.20% Reduced -12.0k -11,978
50 Independent Advisor Alliance 0.04% of their portfolio CHARLOTTE, NC 208,586208.6k $3.8m $3.8m 0.04% New
51 First Interstate Bank 0.21% of their portfolio Billings, MT 204,730204.7k $3.8m $3.8m 0.21% Added +26.1k +26,138
52 Blue Edge Capital, LLC 0.49% of their portfolio RICHMOND, VA 201,465201.5k $3.7m $3.7m 0.49% Added +7.7k +7,718
53 Fifth Third Securities, Inc. 0.23% of their portfolio Cincinnati, OH 194,839194.8k $3.6m $3.6m 0.23% Added +10.9k +10,913
54 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 182,964183.0k $3.4m $3.4m 0.00% Added +53.9k +53,931
55 SBI Securities Co., Ltd. 0.09% of their portfolio TOKYO, M0 182,294182.3k $3.4m $3.4m 0.09% Reduced -10.1k -10,118
56 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 181,630181.6k $3.3m $3.3m 0.01% New
57 Advisory Services Network, LLC 0.04% of their portfolio ATLANTA, GA 172,425172.4k $3.2m $3.2m 0.04% Added +10.6k +10,614
58 &PARTNERS 0.01% of their portfolio NASHVILLE, TN 160,585160.6k $2.9m $2.9m 0.01% Added +24.2k +24,210
59 AlphaCore Capital LLC 0.07% of their portfolio LA JOLLA, CA 157,752157.8k $2.9m $2.9m 0.07% Added +6.0k +6,004
60 Robertson Stephens Wealth Management, LLC 0.08% of their portfolio San Francisco, CA 152,418152.4k $2.8m $2.8m 0.08% Reduced -43.1k -43,115
61 WealthPlan Investment Management, LLC 0.15% of their portfolio OMAHA, NE 142,850142.8k $2.6m $2.6m 0.15% Added +22.0k +22,018
62 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 140,865140.9k $2.6m $2.6m 0.00% Added +7.3k +7,254
63 Summit Financial, LLC 0.03% of their portfolio PARSIPPANY, NJ 131,995132.0k $2.4m $2.4m 0.03% Added +3.7k +3,693
64 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 130,441130.4k $2.4m $2.4m 0.01% Reduced -13.5k -13,479
65 FF Advisors,LLC 0.98% of their portfolio MANHATTAN BEACH, CA 126,516126.5k $2.4m $2.4m 0.98% Added +5.9k +5,947
66 GREENWOOD CAPITAL ASSOCIATES LLC 0.26% of their portfolio GREENWOOD, SC 125,979126.0k $2.3m $2.3m 0.26% Added +3.4k +3,384
67 Gladstone Institutional Advisory LLC 0.09% of their portfolio Bedminster, NJ 125,549125.5k $2.3m $2.3m 0.09% Added +5.5k +5,520
68 GREAT VALLEY ADVISOR GROUP, INC. 0.04% of their portfolio WILMINGTON, DE 120,946120.9k $2.2m $2.2m 0.04% Reduced -15.0k -14,974
69 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 119,936119.9k $2.2m $2.2m 0.00% Added +67.6k +67,577
70 Crews Bank & Trust 0.32% of their portfolio PORT CHARLOTTE, FL 119,515119.5k $2.2m $2.2m 0.32% Reduced -900 -900
71 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 115,824115.8k $2.1m $2.1m 0.02% Reduced -7.9k -7,908
72 Trajan Wealth LLC 0.08% of their portfolio SCOTTSDALE, AZ 113,522113.5k $2.1m $2.1m 0.08% Added +7.7k +7,693
73 CIBC Bancorp USA Inc. 0.00% of their portfolio CHICAGO, IL 113,328113.3k $2.1m $2.1m 0.00% First filing
74 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 113,136113.1k $2.1m $2.1m 0.02% Added +17.6k +17,596
75 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 109,350109.3k $2.0m $2.0m 0.00% Added +43.2k +43,211
76 CWM, LLC 0.01% of their portfolio OMAHA, NE 108,284108.3k $2.0m $2.0m 0.01% Reduced -1.3m -1,318,217
77 Hegarty Advisors, LLC 1.46% of their portfolio GARDEN CITY, NY 100,740100.7k $1.9m $1.9m 1.46% Added +1.8k +1,785
78 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 98,64598.6k $1.8m $1.8m 0.00% Reduced -8.2k -8,172
79 Cyndeo Wealth Partners, LLC 0.10% of their portfolio ST. PETERSBURG, FL 98,17898.2k $1.8m $1.8m 0.10% Added +12.2k +12,206
80 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 90,52990.5k $1.7m $1.7m 0.01% Added +13.4k +13,412
81 Prepared Retirement Institute LLC 0.82% of their portfolio LANSDALE, PA 89,83089.8k $1.7m $1.7m 0.82% Reduced -5.1k -5,122
82 Traub Capital Management LLC 1.59% of their portfolio NEEDHAM, MA 87,13587.1k $1.6m $1.6m 1.59% Reduced -20.7k -20,688
83 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 86,60086.6k $1.6m $1.6m 0.00% Unchanged
84 PRINCIPAL SECURITIES, INC. 0.02% of their portfolio DES MOINES, IA 80,65380.7k $1.5m $1.5m 0.02% Added +1.3k +1,270
85 Eagle Strategies LLC 0.18% of their portfolio NEW YORK, NY 79,70579.7k $1.5m $1.5m 0.18% Added +7.8k +7,774
86 Vestmark Advisory Solutions, Inc. 0.02% of their portfolio Wakefield, MA 79,59579.6k $1.5m $1.5m 0.02% Added +5.0k +5,031
87 CreativeOne Wealth, LLC 0.03% of their portfolio OVERLAND PARK, KS 77,62677.6k $1.4m $1.4m 0.03% Added +2.6k +2,610
88 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 75,19575.2k $1.4m $1.4m 0.00% Reduced -10.2k -10,208
89 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 74,85174.9k $1.4m $1.4m 0.00% Reduced -38.2k -38,234
90 Advisors Capital Management, LLC 0.02% of their portfolio RIDGEWOOD, NJ 74,53174.5k $1.4m $1.4m 0.02% Added +4.8k +4,795
91 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 71,06271.1k $1.3m $1.3m 0.00% Reduced -89.1k -89,091
92 Unison Advisors LLC 0.10% of their portfolio PROVIDENCE, RI 69,64469.6k $1.3m $1.3m 0.10% Added +2.2k +2,199
93 PLIMOTH TRUST CO LLC 0.29% of their portfolio SWANSEA, MA 69,53869.5k $1.3m $1.3m 0.29% Added +1.2k +1,204
94 Investors Research Corp 0.24% of their portfolio ATLANTA, GA 69,49769.5k $1.3m $1.3m 0.24% Reduced -2.4k -2,366
95 Objective Capital Management, LLC 1.25% of their portfolio Fairlawn, OH 67,13067.1k $1.2m $1.2m 1.25% Added +19.4k +19,372
96 Mutual Advisors, LLC 0.02% of their portfolio OMAHA, NE 62,94962.9k $1.2m $1.2m 0.02% Reduced -13.8k -13,793
97 TD PRIVATE CLIENT WEALTH LLC 0.02% of their portfolio NEW YORK, NY 61,86561.9k $1.1m $1.1m 0.02% Added +61.8k +61,814
98 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 59,65359.7k $1.1m $1.1m 0.00% Reduced -1.4k -1,416
99 NWAM LLC 0.06% of their portfolio MERCER ISLAND, WA 59,37159.4k $1.1m $1.1m 0.06% Added +4.1k +4,096
100 Grey Ledge Advisors, LLC 0.24% of their portfolio GUILFORD, CT 58,36058.4k $1.1m $1.1m 0.24% Reduced -16.0k -15,959