Vault-13

J P MORGAN EXCHANGE TRADED F BBAX

BETABUILDERS DEV · ETP · CUSIP 46641Q233

139 institutional holders +27 vs Q3 2025
95,326,71595.3m shares reported held*
$5.4bnreported value*
35 new 38 added 23 reduced 16 sold out net sold ≈ $4.4bn (-78.7m 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 ($47.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $56.30.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 74Q4 22: 84Q1 23: 90Q2 23: 79Q3 23: 87Q4 23: 103Q1 24: 97Q2 24: 92Q3 24: 100Q4 24: 104Q1 25: 98Q2 25: 117Q3 25: 112Q4 25: 139139Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202274
Q4 202284
Q1 202390
Q2 202379
Q3 202387
Q4 2023103
Q1 202497
Q2 202492
Q3 2024100
Q4 2024104
Q1 202598
Q2 2025117
Q3 2025112
Q4 2025139

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 43 bought or addedQ1 24: 48 cut or sold outQ2 24: 35 bought or addedQ2 24: 52 cut or sold outQ2 24Q3 24: 46 bought or addedQ3 24: 42 cut or sold outQ4 24: 40 bought or addedQ4 24: 41 cut or sold outQ4 24Q1 25: 45 bought or addedQ1 25: 43 cut or sold outQ2 25: 60 bought or addedQ2 25: 44 cut or sold outQ2 25Q3 25: 57 bought or addedQ3 25: 44 cut or sold outQ4 25: 73 bought or addedQ4 25: 39 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20244348
Q2 20243552
Q3 20244642
Q4 20244041
Q1 20254543
Q2 20256044
Q3 20255744
Q4 20257339

Calls vs puts

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

CallsPuts
$0$2.5k$5k$7.5k$10kQ1 25 calls: $9.7kQ1 25 puts: $0Q1 25P/C 0.00Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$9.7k$00.00
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$0$0—

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +423,227+423.2k
JANE STREET GROUP, LLC New +73,522+73.5k
NORTHERN TRUST CORP New +28,404+28.4k
Rockefeller Capital Management L.P. Added +25,910+25.9k
Corient Private Wealth LP Added +15,610+15.6k
LPL Financial LLC Added +15,475+15.5k
Robertson Stephens Wealth Management, LLC Added +14,624+14.6k
Quadrature Capital Ltd New +12,673+12.7k
MORGAN STANLEY Added +11,496+11.5k
PGIM Custom Harvest LLC Added +6,779+6.8k

Biggest sellers

JPMORGAN CHASE & CO Reduced -79,179,926-79.2m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -80,031-80.0k
CITADEL ADVISORS LLC Sold out -23,677-23.7k
JANUS HENDERSON GROUP PLC Reduced -14,497-14.5k
RENAISSANCE TECHNOLOGIES LLC Sold out -14,200-14.2k
COMERICA BANK Reduced -6,467-6.5k
SEVEN MILE ADVISORY Sold out -3,569-3.6k
STIFEL FINANCIAL CORP Reduced -3,390-3.4k
Cerity Partners LLC Reduced -2,930-2.9k
Quantinno Capital Management LP Reduced -2,650-2.6k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.32% of their portfolio NEW YORK, NY 83,723,89283.7m $4.7bn $4.7bn 0.32% Reduced -79.2m -79,179,926
2 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 8,606,6788.6m $484.6m $484.6m 0.04% Added +423.2k +423,227
3 JANUS HENDERSON GROUP PLC 0.01% of their portfolio LONDON, X0 469,480469.5k $26.4m $26.4m 0.01% Reduced -14.5k -14,497
4 AIA Group Ltd 0.31% of their portfolio HONG KONG, K3 372,099372.1k $20.9m $20.9m 0.31% Added +4.2k +4,200
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 335,577335.6k $18.9m $18.9m 0.00% Added +11.5k +11,496
6 Municipal Employees' Retirement System of Michigan 0.19% of their portfolio LANSING, MI 298,785298.8k $16.8m $16.8m 0.19% Unchanged
7 Badgley Phelps Wealth Managers, LLC 0.26% of their portfolio SEATTLE, WA 248,517248.5k $14.0m $14.0m 0.26% Added +5.4k +5,442
8 ATLAS CAPITAL ADVISORS INC. 1.11% of their portfolio JACKSON, WY 176,491176.5k $9.9m $9.9m 1.11% First filing
9 SIMON QUICK ADVISORS, LLC 0.43% of their portfolio MORRISTOWN, NJ 173,706173.7k $9.8m $9.8m 0.43% Added +166 +166
10 UBS Group AG 0.00% of their portfolio ZURICH, V8 79,99880.0k $4.5m $4.5m 0.00% Added +3.7k +3,717
11 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 73,52273.5k $4.1m $4.1m 0.00% New
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 69,03369.0k $3.9m $3.9m 0.00% Reduced -320 -320
13 PGIM Custom Harvest LLC 0.06% of their portfolio NEWARK, NJ 68,45268.5k $3.9m $3.9m 0.06% Added +6.8k +6,779
14 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 68,12668.1k $3.8m $3.8m 0.00% Added +15.5k +15,475
15 SYON CAPITAL LLC 0.13% of their portfolio SAN FRANCISCO, CA 44,91544.9k $2.5m $2.5m 0.13% Reduced -2.4k -2,380
16 Keel Point, LLC 0.15% of their portfolio HUNTSVILLE, AL 44,10744.1k $2.5m $2.5m 0.15% Unchanged
17 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 39,14039.1k $2.2m $2.2m 0.00% Added +25.9k +25,910
18 CHOREO, LLC 0.03% of their portfolio ROCKFORD, IL 36,32636.3k $2.1m $2.1m 0.03% Added +1.4k +1,438
19 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 28,40428.4k $1.6m $1.6m 0.00% New
20 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 28,19228.2k $1.6m $1.6m 0.00% Added +15.6k +15,610
21 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 25,38025.4k $1.4m $1.4m 0.00% Reduced -2.6k -2,650
22 OLD NATIONAL BANCORP /IN/ 0.02% of their portfolio EVANSVILLE, IN 24,85124.9k $1.4m $1.4m 0.02% Reduced -93 -93
23 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 24,81724.8k $1.4m $1.4m 0.00% Added +1.9k +1,854
24 Robertson Stephens Wealth Management, LLC 0.03% of their portfolio San Francisco, CA 19,13919.1k $1.1m $1.1m 0.03% Added +14.6k +14,624
25 Quadrature Capital Ltd 0.01% of their portfolio LONDON, X0 12,67312.7k $713.5k $713.5k 0.01% New
26 COMERICA BANK 0.00% of their portfolio DALLAS, TX 12,05012.1k $678.4k $678.4k 0.00% Reduced -6.5k -6,467
27 CWM, LLC 0.00% of their portfolio OMAHA, NE 11,69511.7k $658.0k $658.0k 0.00% Reduced -292 -292
28 Nolet Wealth Management, LLC 0.33% of their portfolio FORT WORTH, TX 10,63810.6k $598.9k $598.9k 0.33% First filing
29 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 10,59610.6k $596.6k $596.6k 0.00% Reduced -1.5k -1,520
30 Circle Wealth Management, LLC 0.01% of their portfolio SUMMIT, NJ 10,54210.5k $593.5k $593.5k 0.01% Added +671 +671
31 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 9,8609.9k $555.1k $555.1k 0.00% Added +741 +741
32 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 8,4578.5k $476.1k $476.1k 0.00% Added +587 +587
33 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 8,4078.4k $473.3k $473.3k 0.00% Added +1.1k +1,086
34 Dorsey & Whitney Trust CO LLC 0.02% of their portfolio SIOUX FALLS, SD 8,1938.2k $461.3k $461.3k 0.02% Unchanged
35 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 7,5397.5k $424.4k $424.4k 0.00% Added +200 +200
36 Icon Wealth Advisors, LLC 0.03% of their portfolio HOUSTON, TX 7,3617.4k $414.5k $414.5k 0.03% Added +1 +1
37 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 7,1957.2k $405.1k $405.1k 0.00% Added +234 +234
38 Alvarez & Marsal Private Wealth Partners, LLC 0.08% of their portfolio WEST PALM BEACH, FL 7,0127.0k $394.8k $394.8k 0.08% First filing
39 BROWN BROTHERS HARRIMAN & CO 0.00% of their portfolio NEW YORK, NY 6,5486.5k $368.7k $368.7k 0.00% Unchanged
40 Ballentine Partners, LLC 0.01% of their portfolio Waltham, MA 6,4346.4k $362.2k $362.2k 0.01% Unchanged
41 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 6,2846.3k $353.8k $353.8k 0.00% New
42 FMR LLC 0.00% of their portfolio BOSTON, MA 6,2216.2k $350.3k $350.3k 0.00% Added +1.6k +1,635
43 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 5,8445.8k $329.0k $329.0k 0.00% Reduced -2.9k -2,930
44 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 5,5155.5k $310.5k $310.5k 0.00% Added +111 +111
45 Cloud Capital Management, LLC 0.14% of their portfolio SEATTLE, WA 5,1095.1k $287.0k $287.0k 0.14% Unchanged
46 FSM Wealth Advisors, LLC 0.04% of their portfolio CLEVELAND, OH 4,5884.6k $258.3k $258.3k 0.04% Unchanged
47 Mariner, LLC 0.00% of their portfolio Overland Park, KS 4,2524.3k $239.4k $239.4k 0.00% Added +583 +583
48 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 4,2294.2k $238.1k $238.1k 0.00% Added +461 +461
49 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 4,1394.1k $233.0k $233.0k 0.00% Added +375 +375
50 IEQ CAPITAL, LLC 0.00% of their portfolio Foster City, CA 4,0824.1k $229.8k $229.8k 0.00% Reduced -272 -272
51 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 3,9043.9k $219.8k $219.8k 0.00% New
52 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 3,7983.8k $213.8k $213.8k 0.00% Reduced -3.4k -3,390
53 Morton Capital Management LLC/CA 0.03% of their portfolio CALABASAS, CA 3,7753.8k $212.5k $212.5k 0.03% Unchanged
54 BAYBAN 0.19% of their portfolio Bayport, MN 3,7223.7k $209.5k $209.5k 0.19% First filing
55 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 3,6543.7k $209.9k $209.9k 0.00% New
56 waypoint wealth counsel 0.07% of their portfolio ATLANTA, GA 3,5713.6k $201.0k $201.0k 0.07% Unchanged
57 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 3,0233.0k $170.2k $170.2k 0.00% New
58 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,6982.7k $152.0k $152.0k 0.00% Added +149 +149
59 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 2,4512.5k $138.1k $138.1k 0.00% Reduced -246 -246
60 EXCHANGE TRADED CONCEPTS, LLC 0.00% of their portfolio Oklahoma City, OK 2,4402.4k $137.4k $137.4k 0.00% Added +27 +27
61 Crewe Advisors LLC 0.01% of their portfolio SALT LAKE CITY, UT 1,6531.7k $93.1k $93.1k 0.01% Unchanged
62 Waverly Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 1,4441.4k $81.3k $81.3k 0.00% New
63 ARMSTRONG ADVISORY GROUP, INC 0.01% of their portfolio NEEDHAM, MA 1,3661.4k $76.9k $76.9k 0.01% Unchanged
64 PRIVATE TRUST CO NA 0.01% of their portfolio CLEVELAND, OH 1,0591.1k $59.6k $59.6k 0.01% Unchanged
65 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio Stamford, CT 1,0401.0k $58.6k $58.6k 0.00% Added +69 +69
66 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 840840 $47.3k $47.3k 0.00% New
67 BlackRock, Inc. 0.00% of their portfolio New York, NY 809809 $45.5k $45.5k 0.00% Added +564 +564
68 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 803803 $45.2k $45.2k 0.00% Added +190 +190
69 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 735735 $41.4k $41.4k 0.00% Added +637 +637
70 BOKF, NA 0.00% of their portfolio TULSA, OK 731731 $41.2k $41.2k 0.00% New
71 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio ORLANDO, FL 704704 $39.6k $39.6k 0.00% New
72 Farmers & Merchants Trust Co of Chambersburg PA 0.01% of their portfolio CHAMBERSBURG, PA 592592 $33.0k $33.0k 0.01% Unchanged
73 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 488488 $27.5k $27.5k 0.00% Added +19 +19
74 EASTERN BANK 0.00% of their portfolio BOSTON, MA 385385 $21.7k $21.7k 0.00% New
75 Wellington Grp LLC 0.01% of their portfolio INDIANAPOLIS, IN 385385 $21.7k $21.7k 0.01% First filing
76 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 351351 $19.8k $19.8k 0.00% New
77 Avalon Trust Co 0.00% of their portfolio SANTA FE, NM 345345 $19.4k $19.4k 0.00% Reduced -345 -345
78 THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. 0.01% of their portfolio INDIANAPOLIS, IN 295295 $16.6k $16.6k 0.01% New
79 Orion Capital Management LLC 0.01% of their portfolio CORONADO, CA 274274 $15.4k $15.4k 0.01% Unchanged
80 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 251251 $14.1k $14.1k 0.00% Reduced -58 -58
81 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 251251 $14.1k $14.1k 0.00% Unchanged
82 MASECO LLP 0.00% of their portfolio LONDON, X0 216216 $12.1k $12.1k 0.00% New
83 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 197197 $11.1k $11.1k 0.00% Added +24 +24
84 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 192192 $10.8k $10.8k 0.00% Reduced -4 -4
85 Delos Wealth Advisors, LLC 0.01% of their portfolio DALLAS, TX 191191 $10.8k $10.8k 0.01% Unchanged
86 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 174174 $9.8k $9.8k 0.00% New
87 Atlantic Union Bankshares Corp 0.00% of their portfolio GLEN ALLEN, VA 168168 $9.5k $9.5k 0.00% New
88 NFSG Corp 0.00% of their portfolio BOCA RATON, FL 163163 $9.2k $9.2k 0.00% Added +145 +145
89 Parkside Financial Bank & Trust 0.00% of their portfolio SAINT LOUIS, MO 156156 $8.8k $8.8k 0.00% New
90 ALBION FINANCIAL GROUP /UT 0.00% of their portfolio SALT LAKE CITY, UT 144144 $8.1k $8.1k 0.00% Unchanged
91 Aventura Private Wealth, LLC 0.00% of their portfolio AVENTURA, FL 142142 $8.0k $8.0k 0.00% Reduced -38 -38
92 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 138138 $7.8k $7.8k 0.00% New
93 Archer Investment Corp 0.00% of their portfolio Carmel, IN 132132 $7.4k $7.4k 0.00% Unchanged
94 CVA Family Office, LLC 0.00% of their portfolio DENVER, CO 128128 $7.2k $7.2k 0.00% Unchanged
95 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 125125 $7.0k $7.0k 0.00% New
96 VALLEY WEALTH MANAGERS, INC. 0.00% of their portfolio PARAMUS, NJ 123123 $6.9k $6.9k 0.00% New
97 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 120120 $6.8k $6.8k 0.00% New
98 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 120120 $6.7k $6.7k 0.00% New
99 Laurel Wealth Advisors LLC 0.00% of their portfolio CHARLOTTE, NC 119119 $6.7k $6.7k 0.00% New
100 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 118118 $6.6k $6.6k 0.00% Added +73 +73