Vault-13

INVESTMENT MANAGERS SER TR I

AXS SHORT INNOV · CUSIP 46144X628

47 institutional holders -8 vs Q1 2023
1,029,0181.0m shares reported held*
$37.3mreported value*
5 new 11 added 17 reduced 13 sold out net sold ≈ $36.9m (-1.0m 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 ≈ $36.20. Options: 3 managers hold calls ($10.0m notional), 3 hold puts ($4.4m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 35Q4 22: 42Q1 23: 55Q2 23: 4747Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202235
Q4 202242
Q1 202355
Q2 202347

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 22: 24 bought or addedQ4 22: 20 cut or sold outQ4 22Q1 23: 41 bought or addedQ1 23: 18 cut or sold outQ1 23Q2 23: 16 bought or addedQ2 23: 30 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222420
Q1 20234118
Q2 20231630

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ3 22 calls: $36.1mQ3 22 puts: $23.8mQ3 22P/C 0.66Q4 22 calls: $22.5mQ4 22 puts: $18.4mQ4 22P/C 0.82Q1 23 calls: $15.8mQ1 23 puts: $16.9mQ1 23P/C 1.07Q2 23 calls: $10.0mQ2 23 puts: $4.4mQ2 23P/C 0.44
Numbers
QuarterCallsPutsP/C
Q3 2022$36.1m$23.8m0.66
Q4 2022$22.5m$18.4m0.82
Q1 2023$15.8m$16.9m1.07
Q2 2023$10.0m$4.4m0.44

Biggest buyers

MYDA Advisors LLC New +26,000+26.0k
Clayton Partners LLC Added +15,000+15.0k
Tower Research Capital LLC (TRC) Added +14,432+14.4k
IMC-Chicago, LLC Added +10,608+10.6k
Patriot Financial Group Insurance Agency, LLC Added +9,269+9.3k
Concentric Capital Strategies, LP Added +9,000+9.0k
Vontobel Holding Ltd. New +7,800+7.8k
Black Swift Group, LLC New +7,500+7.5k
Galibier Capital Management Ltd. Added +7,500+7.5k
Advisory Services Network, LLC Added +5,090+5.1k

Biggest sellers

Trek Financial, LLC Sold out -332,378-332.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -176,600-176.6k
SCHWARZ DYGOS WHEELER INVESTMENT ADVISORS LLC Sold out -100,000-100.0k
HRT FINANCIAL LP Reduced -85,984-86.0k
M.D. Sass, LLC Sold out -83,356-83.4k
Sepio Capital, LP Reduced -59,282-59.3k
M Holdings Securities, Inc. Reduced -43,050-43.0k
Lake Hills Wealth Management, LLC Sold out -38,283-38.3k
TIEDEMANN ADVISORS, LLC Sold out -34,218-34.2k
MORGAN STANLEY Reduced -34,029-34.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $8.0m221.0k shares
CITADEL ADVISORS LLC Reduced $2.0m54.6k shares
Cutler Group LLC / CA Reduced $28.0k17.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.3m90.5k shares
CITADEL ADVISORS LLC Reduced $1.1m29.2k shares
Cutler Group LLC / CA Reduced $37.0k7.1k 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, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 215,110215.1k $7.8m $7.8m 0.01% Reduced -176.6k -176,600
2 Sepio Capital, LP 0.49% of their portfolio Salt Lake City, UT 165,688165.7k $6.0m $6.0m 0.49% Reduced -59.3k -59,282
3 CROWN ADVISORS MANAGEMENT, INC. 2.36% of their portfolio LARKSPUR, CA 100,000100.0k $3.6m $3.6m 2.36% Unchanged
4 Concentric Capital Strategies, LP 0.38% of their portfolio Stamford, CT 49,00049.0k $1.8m $1.8m 0.38% Added +9.0k +9,000
5 Clayton Partners LLC 1.41% of their portfolio BERKELEY, CA 45,00045.0k $1.6m $1.6m 1.41% Added +15.0k +15,000
6 Harel Insurance Investments & Financial Services Ltd. 0.04% of their portfolio Ramat Gan, L3 43,50043.5k $1.6m $1.6m 0.04% Added +3.9k +3,900
7 Integrated Wealth Concepts LLC 0.02% of their portfolio WALTHAM, MA 39,14439.1k $1.4m $1.4m 0.02% Reduced -15.3k -15,295
8 Galibier Capital Management Ltd. 0.30% of their portfolio TORONTO, A6 36,50036.5k $1.3m $1.3m 0.30% Added +7.5k +7,500
9 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 35,78835.8k $1.3m $1.3m 0.00% Reduced -1.9k -1,870
10 IMC-Chicago, LLC 0.04% of their portfolio CHICAGO, IL 35,74935.7k $1.3m $1.3m 0.04% Added +10.6k +10,608
11 MYDA Advisors LLC 0.35% of their portfolio WOODMERE, NY 26,00026.0k $940.7k $940.7k 0.35% New
12 Dynamic Advisor Solutions LLC 0.05% of their portfolio PHOENIX, AZ 24,16224.2k $874.2k $874.2k 0.05% Added +3.5k +3,544
13 Patriot Financial Group Insurance Agency, LLC 0.14% of their portfolio Westborough, MA 20,49520.5k $741.5k $741.5k 0.14% Added +9.3k +9,269
14 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 17,52917.5k $634.0k $634.0k 0.01% Reduced -8.7k -8,681
15 Tower Research Capital LLC (TRC) 0.02% of their portfolio NEW YORK, NY 16,48016.5k $596.2k $596.2k 0.02% Added +14.4k +14,432
16 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 14,23114.2k $514.0k $514.0k 0.00% Reduced -86.0k -85,984
17 M Holdings Securities, Inc. 0.10% of their portfolio PORTLAND, OR 14,00014.0k $507.0k $507.0k 0.10% Reduced -43.0k -43,050
18 Mutual Advisors, LLC 0.02% of their portfolio OMAHA, NE 12,41312.4k $449.1k $449.1k 0.02% Reduced -4.6k -4,610
19 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 10,94710.9k $396.1k $396.1k 0.00% Reduced -34.0k -34,029
20 Meridian Wealth Management, LLC 0.03% of their portfolio LEXINGTON, KY 9,7339.7k $352.1k $352.1k 0.03% Unchanged
21 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 9,3089.3k $336.8k $336.8k 0.00% Reduced -15.0k -15,005
22 CARY STREET PARTNERS INVESTMENT ADVISORY LLC 0.02% of their portfolio RICHMOND, VA 8,6238.6k $312.0k $312.0k 0.02% Unchanged
23 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 8,3658.4k $302.6k $302.6k 0.01% Added +5.1k +5,090
24 BOKF, NA 0.01% of their portfolio TULSA, OK 8,0008.0k $289.4k $289.4k 0.01% Reduced -7.0k -7,000
25 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 7,8317.8k $283.3k $283.3k 0.00% Added +17 +17
26 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 7,8007.8k $282.1k $282.1k 0.00% New
27 Black Swift Group, LLC 0.09% of their portfolio BOULDER, CO 7,5007.5k $271.4k $271.4k 0.09% New
28 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 7,2347.2k $261.7k $261.7k 0.00% Reduced -2.5k -2,460
29 Insight Advisors, LLC/ PA 0.05% of their portfolio Newtown, PA 6,6546.7k $240.7k $240.7k 0.05% Reduced -1.4k -1,440
30 Truepoint, Inc. 0.01% of their portfolio CINCINNATI, OH 6,0006.0k $217.1k $217.1k 0.01% Unchanged
31 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 5,9506.0k $215.3k $215.3k 0.02% Unchanged
32 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 2,3962.4k $86.7k $86.7k 0.00% Reduced -3 -3
33 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 2,1242.1k $89.8k $89.8k 0.00% Added +1.1k +1,101
34 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1,8131.8k $65.6k $65.6k 0.00% Reduced -450 -450
35 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,6211.6k $58.6k $58.6k 0.00% Reduced -11.1k -11,105
36 Headlands Technologies LLC 0.02% of their portfolio CHICAGO, IL 1,6101.6k $58.2k $58.2k 0.02% New
37 GABLES CAPITAL MANAGEMENT INC. 0.03% of their portfolio MIAMI, FL 1,4001.4k $50.7k $50.7k 0.03% Reduced -1.3k -1,300
38 HOEY INVESTMENTS, INC 0.01% of their portfolio COATESVILLE, PA 1,2001.2k $43.4k $43.4k 0.01% Unchanged
39 Cutler Group LLC / CA 0.01% of their portfolio SAN FRANCISCO, CA 890890 $32.0k $32.0k 0.01% New
40 Worth Asset Management, LLC 0.02% of their portfolio DALLAS, TX 620620 $22.4k $22.4k 0.02% Unchanged
41 Retirement Group, LLC 0.01% of their portfolio SAN DIEGO, CA 454454 $16.4k $16.4k 0.01% Unchanged
42 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 8585 $3.1k $3.1k 0.00% Unchanged
43 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 5050 $1.8k $1.8k 0.00% Unchanged
44 Coston, McIsaac & Partners 0.00% of their portfolio BAR HARBOR, ME 1919 $0 $0 0.00% Unchanged
45 IQ EQ FUND MANAGEMENT (SINGAPORE) PRIVATE Ltd 0.00% of their portfolio SINGAPORE, U0 22 $72 $72 0.00% Unchanged
46 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 11 $36 $36 0.00% Unchanged
47 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged