Vault-13

J P MORGAN EXCHANGE TRADED F JEPI

EQUITY PREMIUM · ETP · CUSIP 46641Q332

1,295 institutional holders +6 vs Q2 2025
322,108,828322.1m shares reported held*
$18.4bnreported value*
92 new 660 added 420 reduced 78 sold out net sold ≈ $194.6m (-3.4m 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 ($2.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $57.09. Options: 4 managers hold calls ($42.1m notional), 5 hold puts ($35.1m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 529Q4 22: 645Q1 23: 757Q2 23: 859Q3 23: 895Q4 23: 1,003Q1 24: 1,053Q2 24: 1,084Q3 24: 1,110Q4 24: 1,259Q1 25: 1,270Q2 25: 1,289Q3 25: 1,2951,295Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022529
Q4 2022645
Q1 2023757
Q2 2023859
Q3 2023895
Q4 20231,003
Q1 20241,053
Q2 20241,084
Q3 20241,110
Q4 20241,259
Q1 20251,270
Q2 20251,289
Q3 20251,295

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 23: 567 bought or addedQ4 23: 345 cut or sold outQ1 24: 698 bought or addedQ1 24: 335 cut or sold outQ1 24Q2 24: 682 bought or addedQ2 24: 367 cut or sold outQ3 24: 663 bought or addedQ3 24: 404 cut or sold outQ3 24Q4 24: 750 bought or addedQ4 24: 333 cut or sold outQ1 25: 798 bought or addedQ1 25: 417 cut or sold outQ1 25Q2 25: 761 bought or addedQ2 25: 492 cut or sold outQ3 25: 752 bought or addedQ3 25: 498 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023567345
Q1 2024698335
Q2 2024682367
Q3 2024663404
Q4 2024750333
Q1 2025798417
Q2 2025761492
Q3 2025752498

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ4 24 calls: $10.3mQ4 24 puts: $16.5mQ4 24P/C 1.60Q1 25 calls: $29.2mQ1 25 puts: $19.5mQ1 25P/C 0.67Q2 25 calls: $47.7mQ2 25 puts: $34.8mQ2 25P/C 0.73Q3 25 calls: $42.1mQ3 25 puts: $35.1mQ3 25P/C 0.83
Numbers
QuarterCallsPutsP/C
Q4 2024$10.3m$16.5m1.60
Q1 2025$29.2m$19.5m0.67
Q2 2025$47.7m$34.8m0.73
Q3 2025$42.1m$35.1m0.83

Biggest buyers

JPMORGAN CHASE & CO Added +3,027,007+3.0m
Cetera Investment Advisers Added +1,465,565+1.5m
MORGAN STANLEY Added +1,139,279+1.1m
Sanctuary Advisors, LLC Added +681,718+681.7k
JONES FINANCIAL COMPANIES LLLP Added +581,218+581.2k
WELLS FARGO & COMPANY/MN Added +543,704+543.7k
ENVESTNET ASSET MANAGEMENT INC Added +493,639+493.6k
LPL Financial LLC Added +333,145+333.1k
Prosperity Consulting Group, LLC Added +319,253+319.3k
Bank of New York Mellon Corp Added +283,732+283.7k

Biggest sellers

ROYAL BANK OF CANADA Reduced -8,467,774-8.5m
Rockefeller Capital Management L.P. Reduced -1,499,921-1.5m
UBS Group AG Reduced -897,445-897.4k
MML INVESTORS SERVICES, LLC Reduced -524,675-524.7k
FRANKLIN RESOURCES INC Reduced -435,065-435.1k
Baird Financial Group, Inc. Reduced -430,234-430.2k
BANK OF AMERICA CORP /DE/ Reduced -426,622-426.6k
Teamwork Financial Advisors, LLC Reduced -417,591-417.6k
Advance Capital Management, Inc. Reduced -374,622-374.6k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -335,832-335.8k

Biggest calls

CITADEL ADVISORS LLC Reduced $25.2m441.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $10.6m186.4k shares
JANE STREET GROUP, LLC Added $4.7m82.2k shares
WOLVERINE TRADING, LLC Added $1.5m26.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $24.5m429.9k shares
CITADEL ADVISORS LLC Added $7.1m125.0k shares
JANE STREET GROUP, LLC Added $2.5m44.5k shares
WOLVERINE TRADING, LLC New $501.2k8.8k shares
BENJAMIN EDWARDS INC New $342.6k6.0k 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 MORGAN STANLEY 0.16% of their portfolio NEW YORK, NY 46,972,43747.0m $2.7bn $2.7bn 0.16% Added +1.1m +1,139,279
2 BANK OF AMERICA CORP /DE/ 0.14% of their portfolio CHARLOTTE, NC 32,945,56032.9m $1.9bn $1.9bn 0.14% Reduced -426.6k -426,622
3 WELLS FARGO & COMPANY/MN 0.20% of their portfolio SAN FRANCISCO, CA 16,977,88617.0m $969.4m $969.4m 0.20% Added +543.7k +543,704
4 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 16,431,65016.4m $938.2m $938.2m 0.03% Added +3.0m +3,027,007
5 ENVESTNET ASSET MANAGEMENT INC 0.15% of their portfolio Berwyn, PA 9,432,9649.4m $538.6m $538.6m 0.15% Added +493.6k +493,639
6 ROYAL BANK OF CANADA 0.08% of their portfolio TORONTO, A6 8,067,3208.1m $460.6m $460.6m 0.08% Reduced -8.5m -8,467,774
7 UBS Group AG 0.08% of their portfolio ZURICH, V8 7,568,5007.6m $432.2m $432.2m 0.08% Reduced -897.4k -897,445
8 RAYMOND JAMES FINANCIAL INC 0.13% of their portfolio ST. PETERSBURG, FL 7,273,3817.3m $415.3m $415.3m 0.13% Added +201.2k +201,202
9 Nationwide Fund Advisors 22.17% of their portfolio COLUMBUS, OH 7,038,7187.0m $401.9m $401.9m 22.17% Added +55.5k +55,467
10 OSAIC HOLDINGS, INC. 0.51% of their portfolio SCOTTSDALE, AZ 6,425,4166.4m $367.0m $367.0m 0.51% Added +177.1k +177,057
11 Cetera Investment Advisers 0.34% of their portfolio SCHAUMBURG, IL 5,160,4335.2m $294.7m $294.7m 0.34% Added +1.5m +1,465,565
12 COMMONWEALTH EQUITY SERVICES, LLC 0.35% of their portfolio WALTHAM, MA 4,756,0774.8m $271.6m $271.6m 0.35% Reduced -335.8k -335,832
13 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 4,247,5684.2m $242.5m $242.5m 0.07% Added +333.1k +333,145
14 CIBC Private Wealth Group LLC 0.32% of their portfolio ATLANTA, GA 3,228,7493.2m $184.4m $184.4m 0.32% Reduced -143.0k -142,960
15 HighTower Advisors, LLC 0.20% of their portfolio CHICAGO, IL 3,146,0503.1m $179.6m $179.6m 0.20% Reduced -38.7k -38,688
16 RiverFront Investment Group, LLC 3.07% of their portfolio RICHMOND, VA 3,067,5993.1m $174.7m $174.7m 3.07% Added +163.8k +163,752
17 STIFEL FINANCIAL CORP 0.16% of their portfolio ST. LOUIS, MO 2,982,9463.0m $170.3m $170.3m 0.16% Added +61.8k +61,836
18 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.11% of their portfolio MILWAUKEE, WI 2,931,3382.9m $167.4m $167.4m 0.11% Reduced -133.5k -133,490
19 MML INVESTORS SERVICES, LLC 0.43% of their portfolio SPRINGFIELD, MA 2,833,1582.8m $161.8m $161.8m 0.43% Reduced -524.7k -524,675
20 Janney Montgomery Scott LLC 0.36% of their portfolio PHILADELPHIA, PA 2,656,4982.7m $151.7m $151.7m 0.36% Added +55.8k +55,835
21 Cambridge Investment Research Advisors, Inc. 0.32% of their portfolio FAIRFIELD, IA 2,033,5312.0m $116.1m $116.1m 0.32% Added +38.9k +38,870
22 JONES FINANCIAL COMPANIES LLLP 0.08% of their portfolio DES PERES, MO 2,027,3272.0m $115.4m $115.4m 0.08% Added +581.2k +581,218
23 Cornerstone Advisory, LLC 11.36% of their portfolio HUNT VALLEY, MD 2,026,3022.0m $115.7m $115.7m 11.36% Added +64.3k +64,271
24 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,992,0812.0m $113.7m $113.7m 0.02% Added +283.7k +283,732
25 Confluence Wealth Services, Inc. 5.52% of their portfolio MCMURRAY, PA 1,961,5352.0m $112.0m $112.0m 5.52% Added +107.5k +107,483
26 CWM, LLC 0.33% of their portfolio OMAHA, NE 1,947,0861.9m $111.2m $111.2m 0.33% Reduced -13.3k -13,284
27 Kestra Advisory Services, LLC 0.50% of their portfolio AUSTIN, TX 1,906,2941.9m $108.8m $108.8m 0.50% Added +120.5k +120,535
28 Rockefeller Capital Management L.P. 0.18% of their portfolio NEW YORK, NY 1,579,6731.6m $90.2m $90.2m 0.18% Reduced -1.5m -1,499,921
29 Enstar Group LTD 32.48% of their portfolio Hamilton, D0 1,539,0251.5m $87.9m $87.9m 32.48% Unchanged
30 FAS Wealth Partners, Inc. 5.94% of their portfolio LEAWOOD, KS 1,534,5301.5m $87.6m $87.6m 5.94% Added +54.9k +54,943
31 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.13% of their portfolio PLYMOUTH, MN 1,512,3661.5m $86.0m $86.0m 0.13% Reduced -15.6k -15,551
32 FIRST FOUNDATION ADVISORS 3.15% of their portfolio Irvine, CA 1,493,2811.5m $85.3m $85.3m 3.15% Added +62.5k +62,517
33 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 1,459,6241.5m $83.3m $83.3m 0.05% Added +132.8k +132,811
34 Sanctuary Advisors, LLC 0.25% of their portfolio INDIANAPOLIS, IN 1,423,8581.4m $81.3m $81.3m 0.25% Added +681.7k +681,718
35 Clearstead Advisors, LLC 1.13% of their portfolio CLEVELAND, OH 1,363,5191.4m $77.9m $77.9m 1.13% Reduced -63.4k -63,381
36 Allworth Financial LP 0.30% of their portfolio FOLSOM, CA 1,168,6441.2m $66.7m $66.7m 0.30% Added +24.7k +24,716
37 Prosperity Consulting Group, LLC 3.19% of their portfolio OWINGS MILLS, MD 1,134,3321.1m $64.8m $64.8m 3.19% Added +319.3k +319,253
38 CAPITAL ADVISORS INC/OK 1.03% of their portfolio TULSA, OK 1,073,8711.1m $61.3m $61.3m 1.03% Added +29.2k +29,230
39 CARY STREET PARTNERS FINANCIAL LLC 1.57% of their portfolio RICHMOND, VA 1,057,5261.1m $60.4m $60.4m 1.57% Added +75.6k +75,605
40 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 1,051,2141.1m $60.0m $60.0m 0.01% Reduced -435.1k -435,065
41 TRUIST FINANCIAL CORP 0.08% of their portfolio CHARLOTTE, NC 1,021,9231.0m $58.4m $58.4m 0.08% Added +14.7k +14,729
42 Steward Partners Investment Advisory, LLC 0.32% of their portfolio STAMFORD, CT 984,069984.1k $56.2m $56.2m 0.32% Added +45.6k +45,581
43 Atlantic Union Bankshares Corp 1.03% of their portfolio GLEN ALLEN, VA 959,783959.8k $54.8m $54.8m 1.03% Added +3.6k +3,616
44 Baird Financial Group, Inc. 0.09% of their portfolio MILWAUKEE, WI 953,040953.0k $54.4m $54.4m 0.09% Reduced -430.2k -430,234
45 Focus Partners Wealth 0.08% of their portfolio ST LOUIS, MO 848,093848.1k $48.4m $48.4m 0.08% Added +67.5k +67,490
46 Brookstone Capital Management 0.56% of their portfolio WHEATON, IL 823,606823.6k $47.0m $47.0m 0.56% Reduced -4.9k -4,908
47 Traynor Capital Management, Inc. 2.62% of their portfolio MALVERN, PA 800,395800.4k $45.7m $45.7m 2.62% Added +140.7k +140,717
48 Apollon Wealth Management, LLC 0.80% of their portfolio MOUNT PLEASANT, SC 783,113783.1k $44.7m $44.7m 0.80% Reduced -70.6k -70,558
49 Lebenthal Global Advisors, LLC 7.48% of their portfolio Hauppauge, NY 748,804748.8k $42.8m $42.8m 7.48% Added +12.3k +12,347
50 HUB Investment Partners, LLC 1.55% of their portfolio AUSTIN, TX 736,317736.3k $42.0m $42.0m 1.55% Added +48.0k +48,002
51 PINNACLE ASSOCIATES LTD 0.53% of their portfolio NEW YORK, NY 694,836694.8k $39.7m $39.7m 0.53% Added +11.1k +11,061
52 Kathmere Capital Management, LLC 2.79% of their portfolio WAYNE, PA 687,999688.0k $39.3m $39.3m 2.79% Added +27.5k +27,483
53 Hilton Capital Management, LLC 3.17% of their portfolio Garden City, NY 686,940686.9k $39.2m $39.2m 3.17% Reduced -47.9k -47,884
54 SYNOVUS FINANCIAL CORP 0.45% of their portfolio Columbus, GA 686,623686.6k $39.2m $39.2m 0.45% Added +36.3k +36,348
55 NOTTINGHAM ADVISORS, INC. 5.40% of their portfolio AMHERST, NY 680,727680.7k $38.9m $38.9m 5.40% Added +60.5k +60,494
56 OAKWORTH CAPITAL, INC. 2.20% of their portfolio BIRMINGHAM, AL 667,969668.0k $38.1m $38.1m 2.20% Added +15.5k +15,480
57 &PARTNERS 0.24% of their portfolio NASHVILLE, TN 661,301661.3k $37.7m $37.7m 0.24% Reduced -73.0k -72,957
58 STEPHENS INC /AR/ 0.47% of their portfolio LITTLE ROCK, AR 644,068644.1k $36.8m $36.8m 0.47% Added +30.6k +30,572
59 Savant Capital, LLC 0.22% of their portfolio ROCKFORD, IL 640,806640.8k $36.6m $36.6m 0.22% Reduced -6.9k -6,928
60 Stratos Investment Management, LLC 1.49% of their portfolio BEACHWOOD, OH 633,320633.3k $36.2m $36.2m 1.49% Added +109.3k +109,290
61 KESTRA PRIVATE WEALTH SERVICES, LLC 0.47% of their portfolio AUSTIN, TX 633,184633.2k $36.2m $36.2m 0.47% Added +15.2k +15,227
62 NewEdge Advisors, LLC 0.16% of their portfolio NEW ORLEANS, LA 632,388632.4k $36.1m $36.1m 0.16% Added +81.3k +81,252
63 PRINCIPAL SECURITIES, INC. 0.58% of their portfolio DES MOINES, IA 620,587620.6k $35.4m $35.4m 0.58% Added +60.3k +60,303
64 Capital Investment Advisors, LLC 0.58% of their portfolio ATLANTA, GA 620,553620.6k $35.4m $35.4m 0.58% Reduced -1.7k -1,747
65 Coastal Bridge Advisors, LLC 2.68% of their portfolio WESTPORT, CT 617,926617.9k $35.3m $35.3m 2.68% Reduced -12.4k -12,352
66 FIRST FINANCIAL BANK - TRUST DIVISION 2.75% of their portfolio HAMILTON, OH 563,906563.9k $32.2m $32.2m 2.75% Added +35.3k +35,298
67 Prospera Financial Services Inc 0.53% of their portfolio Dallas, TX 540,359540.4k $30.9m $30.9m 0.53% Reduced -3.3k -3,336
68 J.W. COLE ADVISORS, INC. 0.58% of their portfolio TAMPA, FL 528,538528.5k $30.2m $30.2m 0.58% Added +6.1k +6,084
69 CORNERSTONE ENTERPRISES, LLC 14.63% of their portfolio APPLETON, WI 521,181521.2k $29.8m $29.8m 14.63% Added +22.5k +22,499
70 MAI Capital Management 0.18% of their portfolio INDEPENDENCE, OH 511,503511.5k $29.2m $29.2m 0.18% Added +72.8k +72,759
71 RATIONAL ADVISORS, INC. 2.88% of their portfolio San Juan, PR 507,268507.3k $29.0m $29.0m 2.88% Reduced -7.0k -7,024
72 Teamwork Financial Advisors, LLC 3.05% of their portfolio San Antonio, TX 490,348490.3k $28.0m $28.0m 3.05% Reduced -417.6k -417,591
73 Horizon Advisory Services, Inc. 14.12% of their portfolio WEST HENRIETTA, NY 483,273483.3k $27.6m $27.6m 14.12% Added +9.3k +9,291
74 HBW ADVISORY SERVICES LLC 3.09% of their portfolio SIMI VALLEY, CA 481,341481.3k $27.5m $27.5m 3.09% Reduced -43.0k -43,034
75 Bouchey Financial Group, Ltd. 2.09% of their portfolio TROY, NY 474,016474.0k $27.1m $27.1m 2.09% Added +11.0k +10,997
76 Sterling Investment Counsel, LLC 8.57% of their portfolio Buffalo, NY 468,402468.4k $26.7m $26.7m 8.57% Added +255.6k +255,572
77 Aptus Capital Advisors, LLC 0.24% of their portfolio FAIRHOPE, AL 467,845467.8k $26.7m $26.7m 0.24% Reduced -45.6k -45,608
78 BOKF, NA 0.40% of their portfolio TULSA, OK 462,780462.8k $26.4m $26.4m 0.40% Added +17.6k +17,605
79 Orion Porfolio Solutions, LLC 0.20% of their portfolio OMAHA, NE 453,512453.5k $25.9m $25.9m 0.20% Added +50.5k +50,530
80 Mariner, LLC 0.03% of their portfolio Overland Park, KS 448,594448.6k $25.6m $25.6m 0.03% Added +26.5k +26,489
81 Beacon Pointe Advisors, LLC 0.22% of their portfolio NEWPORT BEACH, CA 446,312446.3k $25.5m $25.5m 0.22% Added +16.3k +16,329
82 MERCER GLOBAL ADVISORS INC /ADV 0.04% of their portfolio DENVER, CO 440,028440.0k $25.1m $25.1m 0.04% Added +174.4k +174,408
83 Cooper Financial Group 2.68% of their portfolio IRVINE, CA 423,502423.5k $24.2m $24.2m 2.68% Added +15.9k +15,888
84 Integrated Wealth Concepts LLC 0.22% of their portfolio WALTHAM, MA 422,988423.0k $24.2m $24.2m 0.22% Reduced -2.1k -2,141
85 DAVENPORT & Co LLC 0.13% of their portfolio RICHMOND, VA 421,087421.1k $24.0m $24.0m 0.13% Added +30.4k +30,360
86 Wagner Wealth Management, LLC 5.54% of their portfolio GREENVILLE, SC 417,763417.8k $23.9m $23.9m 5.54% Added +6.0k +5,966
87 FUKOKU MUTUAL LIFE INSURANCE Co 1.46% of their portfolio TOKYO, M0 415,000415.0k $23.7m $23.7m 1.46% Unchanged
88 Midwest Trust Co 0.31% of their portfolio Overland Park, KS 413,805413.8k $23.6m $23.6m 0.31% Added +8.9k +8,911
89 ORRSTOWN FINANCIAL SERVICES INC 3.97% of their portfolio HARRISBURG, PA 406,346406.3k $23.2m $23.2m 3.97% Added +29.4k +29,374
90 Lido Advisors, LLC 0.09% of their portfolio Los Angeles, CA 394,940394.9k $22.6m $22.6m 0.09% Added +106.4k +106,359
91 Pinnacle Wealth Management Advisory Group, LLC 1.68% of their portfolio RED BANK, NJ 391,412391.4k $22.3m $22.3m 1.68% Added +3.6k +3,646
92 Avantax Planning Partners, Inc. 0.64% of their portfolio DUBUQUE, IA 388,750388.8k $22.2m $22.2m 0.64% Added +29.3k +29,325
93 Melia Wealth LLC 9.62% of their portfolio TULSA, OK 384,852384.9k $22.0m $22.0m 9.62% Reduced -260.4k -260,389
94 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 375,301375.3k $21.4m $21.4m 0.01% Added +55.8k +55,789
95 TigerOak Management, L.L.C. 6.64% of their portfolio NASHVILLE, TN 374,911374.9k $21.4m $21.4m 6.64% Added +3.2k +3,164
96 Rezny Wealth Management, Inc. 4.41% of their portfolio Fort Myers, FL 370,384370.4k $21.1m $21.1m 4.41% Added +91.8k +91,767
97 SK Wealth Management, LLC 7.76% of their portfolio PROVIDENCE, RI 366,601366.6k $20.8m $20.8m 7.76% Reduced -12.3k -12,280
98 COMERICA BANK 0.08% of their portfolio DALLAS, TX 366,283366.3k $20.9m $20.9m 0.08% Reduced -3.4k -3,410
99 Kingsview Wealth Management, LLC 0.31% of their portfolio GRANTS PASS, OR 356,984357.0k $20.4m $20.4m 0.31% Added +358 +358
100 Beacon Financial Advisory LLC 4.70% of their portfolio CLEVELAND, OH 355,181355.2k $20.3m $20.3m 4.70% Added +7.6k +7,588