Vault-13

GRANITESHARES ETF TR NVDL

2X LONG NVDA DAI · ETP · CUSIP 38747R827

94 institutional holders +10 vs Q2 2025
3,720,6003.7m shares reported held*
$348.8mreported value*
30 new 20 added 27 reduced 17 sold out net sold ≈ $16.8m (-178.4k 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. Holder counts are more reliable. Implied quarter-end price ≈ $93.75. Options: 7 managers hold calls ($788.1m notional), 6 hold puts ($577.9m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100Q4 22: 2Q1 23: 5Q2 23: 7Q3 23: 14Q4 23: 17Q1 24: 39Q2 24: 57Q3 24: 71Q4 24: 73Q1 25: 72Q2 25: 84Q3 25: 9494Q4 22Q3 23Q2 24Q1 25Q3 25
Numbers
QuarterHolders
Q4 20222
Q1 20235
Q2 20237
Q3 202314
Q4 202317
Q1 202439
Q2 202457
Q3 202471
Q4 202473
Q1 202572
Q2 202584
Q3 202594

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 23: 12 bought or addedQ4 23: 7 cut or sold outQ1 24: 37 bought or addedQ1 24: 7 cut or sold outQ1 24Q2 24: 41 bought or addedQ2 24: 24 cut or sold outQ3 24: 50 bought or addedQ3 24: 19 cut or sold outQ3 24Q4 24: 45 bought or addedQ4 24: 35 cut or sold outQ1 25: 52 bought or addedQ1 25: 38 cut or sold outQ1 25Q2 25: 45 bought or addedQ2 25: 46 cut or sold outQ3 25: 50 bought or addedQ3 25: 44 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023127
Q1 2024377
Q2 20244124
Q3 20245019
Q4 20244535
Q1 20255238
Q2 20254546
Q3 20255044

Calls vs puts

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

CallsPuts
$0$200m$400m$600m$800mQ4 24 calls: $337.0mQ4 24 puts: $286.3mQ4 24P/C 0.85Q1 25 calls: $292.7mQ1 25 puts: $183.7mQ1 25P/C 0.63Q2 25 calls: $537.4mQ2 25 puts: $291.6mQ2 25P/C 0.54Q3 25 calls: $788.1mQ3 25 puts: $577.9mQ3 25P/C 0.73
Numbers
QuarterCallsPutsP/C
Q4 2024$337.0m$286.3m0.85
Q1 2025$292.7m$183.7m0.63
Q2 2025$537.4m$291.6m0.54
Q3 2025$788.1m$577.9m0.73

Biggest buyers

APEIRON CAPITAL Ltd New +940,000+940.0k
MORGAN STANLEY Added +453,168+453.2k
HRT FINANCIAL LP Added +228,708+228.7k
RENAISSANCE TECHNOLOGIES LLC New +121,100+121.1k
HUB Investment Partners, LLC New +96,495+96.5k
Headlands Technologies LLC Added +58,963+59.0k
CITADEL ADVISORS LLC Added +56,578+56.6k
STEVENS CAPITAL MANAGEMENT LP New +41,606+41.6k
JPMORGAN CHASE & CO Added +40,449+40.4k
TB Alternative Assets Ltd. New +34,000+34.0k

Biggest sellers

UBS Group AG Reduced -1,232,316-1.2m
JANE STREET GROUP, LLC Sold out -419,784-419.8k
GOLDMAN SACHS GROUP INC Sold out -300,000-300.0k
CITIGROUP INC Reduced -136,151-136.2k
Oriental Harbor Investment Master Fund Sold out -121,294-121.3k
Optiver Holding B.V. Reduced -103,956-104.0k
NorthCoast Asset Management LLC Reduced -35,000-35.0k
MERCER GLOBAL ADVISORS INC /ADV Reduced -26,000-26.0k
Client First Investment Management LLC Reduced -18,032-18.0k
JOSH ARNOLD INVESTMENT CONSULTANT, LLC Sold out -13,650-13.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $390.1m4.2m shares
CITADEL ADVISORS LLC Reduced $206.7m2.2m shares
JANE STREET GROUP, LLC Added $177.4m1.9m shares
Walleye Trading LLC Added $12.6m134.9k shares
Belvedere Trading LLC Added $730.2k7.8k shares
HAP Trading, LLC First filing $337.4k26.9k shares
Centric Wealth Management Reduced $249.1k2.9k shares

Biggest puts

JANE STREET GROUP, LLC Added $242.9m2.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $170.8m1.8m shares
CITADEL ADVISORS LLC Added $122.2m1.3m shares
TORNO CAPITAL, LLC Not comparable $28.1m300.0k shares
Walleye Trading LLC Added $11.4m122.1k shares
Belvedere Trading LLC Added $2.5m26.6k shares

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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 APEIRON CAPITAL Ltd 41.82% of their portfolio HONG KONG, K3 940,000940.0k $88.0m $88.0m 41.82% New
2 UBS Group AG 0.01% of their portfolio ZURICH, V8 711,879711.9k $66.6m $66.6m 0.01% Reduced -1.2m -1,232,316
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 507,401507.4k $47.5m $47.5m 0.00% Added +453.2k +453,168
4 HRT FINANCIAL LP 0.11% of their portfolio NEW YORK, NY 251,485251.5k $23.5m $23.5m 0.11% Added +228.7k +228,708
5 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 121,100121.1k $11.3m $11.3m 0.01% New
6 HUB Investment Partners, LLC 0.33% of their portfolio AUSTIN, TX 96,49596.5k $9.0m $9.0m 0.33% New
7 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 79,68479.7k $7.5m $7.5m 0.01% Added +56.6k +56,578
8 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 68,71768.7k $6.4m $6.4m 0.01% Reduced -11.4k -11,381
9 TRUE Private Wealth Advisors 0.66% of their portfolio Salem, OR 68,61068.6k $6.4m $6.4m 0.66% Reduced -1.9k -1,909
10 Headlands Technologies LLC 0.45% of their portfolio CHICAGO, IL 60,64860.6k $5.7m $5.7m 0.45% Added +59.0k +58,963
11 TORNO CAPITAL, LLC 0.47% of their portfolio COHASSET, MA 50,00050.0k $4.7m $4.7m 0.47% Not comparable
12 MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio DENVER, CO 47,50047.5k $4.4m $4.4m 0.01% Reduced -26.0k -26,000
13 HOEY INVESTMENTS, INC 0.58% of their portfolio COATESVILLE, PA 45,85645.9k $4.3m $4.3m 0.58% Added +9.2k +9,200
14 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 44,82044.8k $4.2m $4.2m 0.00% Added +40.4k +40,449
15 STEVENS CAPITAL MANAGEMENT LP 0.52% of their portfolio RADNOR, PA 41,60641.6k $3.9m $3.9m 0.52% New
16 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 37,50037.5k $3.5m $3.5m 0.01% Added +11.5k +11,500
17 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 35,48535.5k $3.3m $3.3m 0.02% Added +1.3k +1,251
18 TB Alternative Assets Ltd. 0.48% of their portfolio HONG KONG, K3 34,00034.0k $3.2m $3.2m 0.48% New
19 NorthCoast Asset Management LLC 0.01% of their portfolio STAMFORD, CT 32,07632.1k $3.0m $3.0m 0.01% Reduced -35.0k -35,000
20 Sequoia Financial Advisors, LLC 0.01% of their portfolio Akron, OH 22,31522.3k $2.1m $2.1m 0.01% Reduced -8.0k -8,000
21 Client First Investment Management LLC 0.98% of their portfolio West Bend, WI 20,51720.5k $1.9m $1.9m 0.98% Reduced -18.0k -18,032
22 Harvest Fund Management Co., Ltd 0.08% of their portfolio BEIJING, F4 20,07920.1k $1.9m $1.9m 0.08% New
23 IMC-Chicago, LLC 0.03% of their portfolio CHICAGO, IL 19,97620.0k $1.9m $1.9m 0.03% New
24 Jump Financial, LLC 0.02% of their portfolio Chicago, IL 19,80819.8k $1.9m $1.9m 0.02% New
25 Claro Advisors Inc. 0.26% of their portfolio BOSTON, MA 19,18619.2k $1.8m $1.8m 0.26% Reduced -140 -140
26 Beacon Pointe Advisors, LLC 0.01% of their portfolio NEWPORT BEACH, CA 18,14018.1k $1.7m $1.7m 0.01% New
27 WOODWARD DIVERSIFIED CAPITAL, LLC 0.79% of their portfolio BAKERSFIELD, CA 18,05018.1k $1.7m $1.7m 0.79% New
28 GatePass Capital, LLC 0.97% of their portfolio INDEPENDENCE, OH 17,98118.0k $1.7m $1.7m 0.97% Added +2.0k +2,049
29 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 17,70017.7k $1.7m $1.7m 0.01% New
30 SBI Securities Co., Ltd. 0.04% of their portfolio TOKYO, M0 17,10217.1k $1.6m $1.6m 0.04% Reduced -3.1k -3,120
31 Scientech Research LLC 0.51% of their portfolio JERSEY CITY, NJ 15,58315.6k $1.5m $1.5m 0.51% New
32 DIVERSIFY WEALTH MANAGEMENT, LLC 0.10% of their portfolio SANDY, UT 15,00115.0k $1.7m $1.7m 0.10% Unchanged
33 Sassicaia Capital Advisers LLC 0.63% of their portfolio JERICHO, NY 15,00015.0k $1.4m $1.4m 0.63% New
34 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 13,84913.8k $1.3m $1.3m 0.00% Reduced -136.2k -136,151
35 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 13,00013.0k $1.2m $1.2m 0.00% New
36 Mariner, LLC 0.00% of their portfolio Overland Park, KS 11,57811.6k $1.1m $1.1m 0.00% Reduced -5.7k -5,732
37 Sigma Planning Corp 0.03% of their portfolio ANN ARBOR, MI 11,10011.1k $1.0m $1.0m 0.03% Added +220 +220
38 Optiver Holding B.V. 0.02% of their portfolio AMSTERDAM, P7 9,8999.9k $926.7k $926.7k 0.02% Reduced -104.0k -103,956
39 Bison Wealth, LLC 0.09% of their portfolio ATLANTA, GA 9,0009.0k $1.0m $1.0m 0.09% New
40 Belvedere Trading LLC 0.06% of their portfolio CHICAGO, IL 8,4308.4k $789.2k $789.2k 0.06% Added +8.4k +8,430
41 Sovereign Financial Group, Inc. 0.13% of their portfolio STAMFORD, CT 7,4207.4k $694.7k $694.7k 0.13% Added +100 +100
42 Strategic Blueprint, LLC 0.03% of their portfolio ATLANTA, GA 7,4007.4k $692.8k $692.8k 0.03% Unchanged
43 ZEGA Investments, LLC 0.15% of their portfolio PALM BEACH GARDENS, FL 6,9496.9k $650.6k $650.6k 0.15% New
44 Larson Financial Group LLC 0.02% of their portfolio ST LOUIS, MO 5,9536.0k $557.3k $557.3k 0.02% Added +1.6k +1,589
45 World Investment Advisors 0.01% of their portfolio LINCROFT, NJ 5,0005.0k $468.1k $468.1k 0.01% Unchanged
46 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 4,9004.9k $459.0k $459.0k 0.00% New
47 Magnus Financial Group LLC 0.04% of their portfolio NEW YORK, NY 4,8104.8k $450.3k $450.3k 0.04% Reduced -390 -390
48 180 WEALTH ADVISORS, LLC 0.05% of their portfolio FEDERAL WAY, WA 4,4464.4k $416.2k $416.2k 0.05% Reduced -1.9k -1,882
49 Cherry Tree Wealth Management, LLC 0.09% of their portfolio MINNETONKA, MN 4,4264.4k $414.3k $414.3k 0.09% Added +3.4k +3,379
50 VESTOR CAPITAL, LLC 0.03% of their portfolio CHICAGO, IL 4,4004.4k $412.0k $412.0k 0.03% Reduced -2.7k -2,712
51 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 4,3284.3k $405.2k $405.2k 0.00% New
52 SeaCrest Wealth Management, LLC 0.04% of their portfolio PURCHASE, NY 4,2244.2k $404.9k $404.9k 0.04% Added +55 +55
53 Lauer Wealth, LLC 0.25% of their portfolio VALPARAISO, IN 4,0154.0k $345.9k $345.9k 0.25% Added +1.2k +1,210
54 GROUP ONE TRADING LLC 0.01% of their portfolio CHICAGO, IL 3,8833.9k $363.5k $363.5k 0.01% New
55 Tactive Advisors, LLC 0.09% of their portfolio Jacksonville, FL 3,3493.3k $313.5k $313.5k 0.09% Added +74 +74
56 TWO SIGMA SECURITIES, LLC 0.04% of their portfolio NEW YORK, NY 3,1903.2k $298.6k $298.6k 0.04% New
57 Diversify Advisory Services, LLC 0.01% of their portfolio SANDY, UT 2,5962.6k $292.6k $292.6k 0.01% Unchanged
58 FLAGSTAR SECURITIES, INC 0.07% of their portfolio New York, NY 2,5892.6k $242.4k $242.4k 0.07% Reduced -701 -701
59 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 2,5002.5k $234.1k $234.1k 0.00% Reduced -600 -600
60 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 2,4422.4k $224.3k $224.3k 0.00% New
61 Trinity Financial Advisors LLC 0.06% of their portfolio COLUMBUS, OH 2,4002.4k $224.7k $224.7k 0.06% New
62 Tower Research Capital LLC (TRC) 0.01% of their portfolio NEW YORK, NY 2,3892.4k $223.7k $223.7k 0.01% Reduced -3.0k -2,991
63 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 1,9542.0k $182.0k $182.0k 0.00% New
64 HOLLENCREST CAPITAL MANAGEMENT 0.01% of their portfolio NEWPORT BEACH, CA 1,9501.9k $182.6k $182.6k 0.01% Reduced -480 -480
65 New Millennium Group LLC 0.08% of their portfolio SANDY, UT 1,8951.9k $177.4k $177.4k 0.08% Unchanged
66 CENTAURUS FINANCIAL, INC. 0.01% of their portfolio ANAHEIM, CA 1,7251.7k $161.0k $161.0k 0.01% Reduced -500 -500
67 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,4291.4k $131.2k $131.2k 0.00% Reduced -946 -946
68 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 1,1541.2k $108.0k $108.0k 0.00% Reduced -2.8k -2,753
69 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 1,0751.1k $100.6k $100.6k 0.00% Added +1.0k +1,045
70 CWM, LLC 0.00% of their portfolio OMAHA, NE 1,0001.0k $94.0k $94.0k 0.00% New
71 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 1,0001.0k $93.6k $93.6k 0.00% Unchanged
72 Wilmington Savings Fund Society, FSB 0.00% of their portfolio WILMINGTON, DE 935935 $87.5k $87.5k 0.00% New
73 Chung Wu Investment Group, LLC 0.07% of their portfolio SUGAR LAND, TX 900900 $84.3k $84.3k 0.07% Added +700 +700
74 LANARK FINANCIAL, INC. 0.01% of their portfolio BIRMINGHAM, AL 840840 $78.6k $78.6k 0.01% Reduced -320 -320
75 Financially Speaking Inc 0.03% of their portfolio GREENWOOD VILLAGE, CO 500500 $46.8k $46.8k 0.03% Unchanged
76 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 494494 $46.2k $46.2k 0.00% New
77 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 420420 $39.3k $39.3k 0.00% Unchanged
78 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 300300 $28.1k $28.1k 0.00% Reduced -50 -50
79 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 200200 $19.0k $19.0k 0.00% New
80 Financial Life Planners 0.01% of their portfolio TEMPE, AZ 176176 $16.5k $16.5k 0.01% New
81 NFSG Corp 0.00% of their portfolio BOCA RATON, FL 150150 $14.0k $14.0k 0.00% Added +111 +111
82 PINNEY & SCOFIELD, INC. 0.01% of their portfolio CAMBRIDGE, MA 150150 $14.0k $14.0k 0.01% Unchanged
83 MJT & Associates Financial Advisory Group, Inc. 0.01% of their portfolio MONTEVIDEO, MN 140140 $13.1k $13.1k 0.01% Reduced -100 -100
84 Integrity Financial Corp /WA 0.00% of their portfolio JACKSON, WY 100100 $9.4k $9.4k 0.00% New
85 Aventura Private Wealth, LLC 0.00% of their portfolio AVENTURA, FL 100100 $9.4k $9.4k 0.00% Unchanged
86 Pineridge Advisors LLC 0.00% of their portfolio ST. CHARLES, MO 7575 $7.0k $7.0k 0.00% Reduced -75 -75
87 Team Financial Group, LLC 0.00% of their portfolio TEMECULA, CA 7070 $6.6k $6.6k 0.00% Unchanged
88 Archer Investment Corp 0.00% of their portfolio Carmel, IN 5050 $4.7k $4.7k 0.00% Unchanged
89 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 1919 $1.8k $1.8k 0.00% Unchanged
90 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 1616 $1.0k $1.0k 0.00% Unchanged
91 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 1111 $1.0k $1.0k 0.00% Unchanged
92 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 55 $468 $468 0.00% Reduced -195 -195
93 Clearstead Advisors, LLC 0.00% of their portfolio CLEVELAND, OH 11 $69 $69 0.00% New
94 Activest Wealth Management 0.00% of their portfolio AVENTURA, FL 11 $79 $79 0.00% Unchanged