Vault-13

J P MORGAN EXCHANGE TRADED F JEPI

EQUITY PREMIUM · ETP · CUSIP 46641Q332

1,390 institutional holders +95 vs Q3 2025
316,571,559316.6m shares reported held*
$18.1bnreported value*
93 new 588 added 496 reduced 82 sold out net sold ≈ $619.9m (-10.8m 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 ($5.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $57.23. Options: 3 managers hold calls ($48.5m notional), 3 hold puts ($24.6m).

Trends to Q4 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: 1,295Q4 25: 1,3901,390Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 20251,390

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 24: 698 bought or addedQ1 24: 335 cut or sold outQ2 24: 682 bought or addedQ2 24: 367 cut or sold outQ2 24Q3 24: 663 bought or addedQ3 24: 404 cut or sold outQ4 24: 750 bought or addedQ4 24: 333 cut or sold outQ4 24Q1 25: 798 bought or addedQ1 25: 417 cut or sold outQ2 25: 761 bought or addedQ2 25: 492 cut or sold outQ2 25Q3 25: 752 bought or addedQ3 25: 498 cut or sold outQ4 25: 681 bought or addedQ4 25: 578 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024698335
Q2 2024682367
Q3 2024663404
Q4 2024750333
Q1 2025798417
Q2 2025761492
Q3 2025752498
Q4 2025681578

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ1 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 0.83Q4 25 calls: $48.5mQ4 25 puts: $24.6mQ4 25P/C 0.51
Numbers
QuarterCallsPutsP/C
Q1 2025$29.2m$19.5m0.67
Q2 2025$47.7m$34.8m0.73
Q3 2025$42.1m$35.1m0.83
Q4 2025$48.5m$24.6m0.51

Biggest buyers

Equitable Holdings, Inc. Added +1,801,951+1.8m
RAYMOND JAMES FINANCIAL INC Added +825,889+825.9k
JANE STREET GROUP, LLC Added +778,215+778.2k
RiverFront Investment Group, LLC Added +737,043+737.0k
JONES FINANCIAL COMPANIES LLLP Added +497,410+497.4k
New York Life Investment Management LLC Added +477,935+477.9k
ENVESTNET ASSET MANAGEMENT INC Added +458,407+458.4k
Cetera Investment Advisers Added +370,330+370.3k
Farther Finance Advisors, LLC Added +283,389+283.4k
Americana Partners, LLC Added +274,620+274.6k

Biggest sellers

JPMORGAN CHASE & CO Reduced -10,704,737-10.7m
BANK OF AMERICA CORP /DE/ Reduced -1,125,185-1.1m
Sanctuary Advisors, LLC Reduced -919,929-919.9k
OSAIC HOLDINGS, INC. Reduced -731,207-731.2k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -501,059-501.1k
Hilton Capital Management, LLC Reduced -498,875-498.9k
UBS Group AG Reduced -392,863-392.9k
Teamwork Financial Advisors, LLC Reduced -391,634-391.6k
Savant Capital, LLC Reduced -385,989-386.0k
SK Wealth Management, LLC Sold out -366,601-366.6k

Biggest calls

CITADEL ADVISORS LLC Added $29.3m511.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $15.2m264.9k shares
JANE STREET GROUP, LLC Reduced $4.1m71.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $14.9m260.5k shares
CITADEL ADVISORS LLC Reduced $6.9m121.0k shares
JANE STREET GROUP, LLC Added $2.8m48.5k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.16% of their portfolio NEW YORK, NY 47,234,30947.2m $2.7bn $2.7bn 0.16% Added +261.9k +261,872
2 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 31,820,37531.8m $1.8bn $1.8bn 0.13% Reduced -1.1m -1,125,185
3 WELLS FARGO & COMPANY/MN 0.19% of their portfolio SAN FRANCISCO, CA 16,812,99616.8m $962.4m $962.4m 0.19% Reduced -164.9k -164,890
4 ENVESTNET ASSET MANAGEMENT INC 0.17% of their portfolio Berwyn, PA 9,891,3719.9m $566.2m $566.2m 0.17% Added +458.4k +458,407
5 RAYMOND JAMES FINANCIAL INC 0.14% of their portfolio ST. PETERSBURG, FL 8,099,2708.1m $463.6m $463.6m 0.14% Added +825.9k +825,889
6 ROYAL BANK OF CANADA 0.08% of their portfolio TORONTO, A6 7,916,7847.9m $453.2m $453.2m 0.08% Reduced -150.5k -150,536
7 UBS Group AG 0.08% of their portfolio ZURICH, V8 7,175,6377.2m $410.7m $410.7m 0.08% Reduced -392.9k -392,863
8 Nationwide Fund Advisors 17.38% of their portfolio COLUMBUS, OH 7,089,9087.1m $405.8m $405.8m 17.38% Added +51.2k +51,190
9 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 5,726,9135.7m $327.8m $327.8m 0.02% Reduced -10.7m -10,704,737
10 OSAIC HOLDINGS, INC. 0.48% of their portfolio SCOTTSDALE, AZ 5,694,2095.7m $326.0m $326.0m 0.48% Reduced -731.2k -731,207
11 Cetera Investment Advisers 0.35% of their portfolio SCHAUMBURG, IL 5,530,7635.5m $316.6m $316.6m 0.35% Added +370.3k +370,330
12 COMMONWEALTH EQUITY SERVICES, LLC 0.32% of their portfolio WALTHAM, MA 4,255,0184.3m $243.6m $243.6m 0.32% Reduced -501.1k -501,059
13 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 4,175,8854.2m $239.0m $239.0m 0.07% Reduced -71.7k -71,683
14 RiverFront Investment Group, LLC 3.59% of their portfolio RICHMOND, VA 3,804,6423.8m $217.8m $217.8m 3.59% Added +737.0k +737,043
15 CIBC Private Wealth Group LLC 0.30% of their portfolio ATLANTA, GA 3,079,4713.1m $176.3m $176.3m 0.30% Reduced -149.3k -149,278
16 MML INVESTORS SERVICES, LLC 0.43% of their portfolio SPRINGFIELD, MA 3,063,4223.1m $175.4m $175.4m 0.43% Added +230.3k +230,264
17 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.11% of their portfolio MILWAUKEE, WI 3,003,7653.0m $171.9m $171.9m 0.11% Added +72.4k +72,427
18 HighTower Advisors, LLC 0.18% of their portfolio CHICAGO, IL 2,881,6232.9m $164.9m $164.9m 0.18% Reduced -264.4k -264,427
19 STIFEL FINANCIAL CORP 0.15% of their portfolio ST. LOUIS, MO 2,829,1282.8m $161.9m $161.9m 0.15% Reduced -153.8k -153,818
20 Janney Montgomery Scott LLC 0.35% of their portfolio PHILADELPHIA, PA 2,692,6042.7m $154.1m $154.1m 0.35% Added +36.1k +36,106
21 JONES FINANCIAL COMPANIES LLLP 0.09% of their portfolio DES PERES, MO 2,524,7372.5m $144.5m $144.5m 0.09% Added +497.4k +497,410
22 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 2,135,2642.1m $122.2m $122.2m 0.02% Added +143.2k +143,183
23 Confluence Wealth Services, Inc. 5.01% of their portfolio MCMURRAY, PA 2,114,4672.1m $121.0m $121.0m 5.01% Added +152.9k +152,932
24 Kestra Advisory Services, LLC 0.47% of their portfolio AUSTIN, TX 1,980,4852.0m $113.4m $113.4m 0.47% Added +74.2k +74,191
25 Cornerstone Advisory, LLC 10.71% of their portfolio HUNT VALLEY, MD 1,961,9712.0m $112.3m $112.3m 10.71% Reduced -64.3k -64,331
26 Cambridge Investment Research Advisors, Inc. 0.29% of their portfolio FAIRFIELD, IA 1,893,7521.9m $108.4m $108.4m 0.29% Reduced -139.8k -139,779
27 Equitable Holdings, Inc. 0.73% of their portfolio NEW YORK, NY 1,853,7671.9m $106.1m $106.1m 0.73% Added +1.8m +1,801,951
28 Rockefeller Capital Management L.P. 0.18% of their portfolio NEW YORK, NY 1,754,9951.8m $100.5m $100.5m 0.18% Added +175.3k +175,322
29 CWM, LLC 0.26% of their portfolio OMAHA, NE 1,653,0811.7m $94.6m $94.6m 0.26% Reduced -294.0k -294,005
30 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 1,650,8641.7m $94.5m $94.5m 0.05% Added +191.2k +191,240
31 FAS Wealth Partners, Inc. 5.75% of their portfolio LEAWOOD, KS 1,552,8451.6m $88.9m $88.9m 5.75% Added +18.3k +18,315
32 Enstar Group LTD 34.07% of their portfolio Hamilton, D0 1,539,0251.5m $88.1m $88.1m 34.07% Unchanged
33 FIRST FOUNDATION ADVISORS 3.26% of their portfolio Irvine, CA 1,511,0591.5m $86.5m $86.5m 3.26% Added +17.8k +17,778
34 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.11% of their portfolio PLYMOUTH, MN 1,373,8261.4m $79.6m $79.6m 0.11% Reduced -138.5k -138,540
35 Hamilton Capital, LLC 3.85% of their portfolio COLUMBUS, OH 1,344,2231.3m $76.9m $76.9m 3.85% First filing
36 Clearstead Advisors, LLC 0.94% of their portfolio CLEVELAND, OH 1,300,6261.3m $74.5m $74.5m 0.94% Reduced -62.9k -62,893
37 Prosperity Consulting Group, LLC 3.30% of their portfolio OWINGS MILLS, MD 1,279,9491.3m $73.3m $73.3m 3.30% Added +145.6k +145,617
38 Allworth Financial LP 0.29% of their portfolio FOLSOM, CA 1,226,7491.2m $70.2m $70.2m 0.29% Added +58.1k +58,105
39 CAPITAL ADVISORS INC/OK 1.02% of their portfolio TULSA, OK 1,105,8871.1m $63.3m $63.3m 1.02% Added +32.0k +32,016
40 Atlantic Union Bankshares Corp 1.09% of their portfolio GLEN ALLEN, VA 1,017,2921.0m $58.2m $58.2m 1.09% Added +57.5k +57,509
41 Focus Partners Wealth 0.07% of their portfolio ST LOUIS, MO 1,013,6561.0m $58.1m $58.1m 0.07% Added +165.6k +165,563
42 Steward Partners Investment Advisory, LLC 0.32% of their portfolio STAMFORD, CT 1,009,3691.0m $57.8m $57.8m 0.32% Added +25.3k +25,300
43 Baird Financial Group, Inc. 0.09% of their portfolio MILWAUKEE, WI 1,009,3251.0m $57.8m $57.8m 0.09% Added +56.3k +56,285
44 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 997,647997.6k $57.1m $57.1m 0.01% Reduced -53.6k -53,567
45 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 959,489959.5k $54.9m $54.9m 0.07% Reduced -62.4k -62,434
46 Traynor Capital Management, Inc. 2.96% of their portfolio MALVERN, PA 937,037937.0k $53.6m $53.6m 2.96% Added +136.6k +136,642
47 CARY STREET PARTNERS FINANCIAL LLC 1.32% of their portfolio RICHMOND, VA 928,454928.5k $53.1m $53.1m 1.32% Reduced -129.1k -129,072
48 Pinnacle Financial Partners, Inc. 0.40% of their portfolio ATLANTA, GA 928,030928.0k $53.1m $53.1m 0.40% First filing
49 Brookstone Capital Management 0.56% of their portfolio WHEATON, IL 859,926859.9k $49.2m $49.2m 0.56% Added +36.3k +36,320
50 JANE STREET GROUP, LLC 0.06% of their portfolio NEW YORK, NY 848,015848.0k $48.5m $48.5m 0.06% Added +778.2k +778,215
51 Lebenthal Global Advisors, LLC 6.76% of their portfolio Hauppauge, NY 765,683765.7k $43.8m $43.8m 6.76% Added +16.9k +16,879
52 SHP Wealth Management 3.34% of their portfolio PLYMOUTH, MA 749,160749.2k $42.9m $42.9m 3.34% First filing
53 Apollon Wealth Management, LLC 0.74% of their portfolio MOUNT PLEASANT, SC 743,087743.1k $42.5m $42.5m 0.74% Reduced -40.0k -40,026
54 Kathmere Capital Management, LLC 2.83% of their portfolio WAYNE, PA 732,375732.4k $41.9m $41.9m 2.83% Added +44.4k +44,376
55 New York Life Investment Management LLC 0.36% of their portfolio New York, NY 727,039727.0k $41.6m $41.6m 0.36% Added +477.9k +477,935
56 HUB Investment Partners, LLC 1.13% of their portfolio AUSTIN, TX 725,240725.2k $41.5m $41.5m 1.13% Reduced -11.1k -11,077
57 OAKWORTH CAPITAL, INC. 2.23% of their portfolio BIRMINGHAM, AL 713,164713.2k $40.8m $40.8m 2.23% Added +45.2k +45,195
58 NewEdge Advisors, LLC 0.14% of their portfolio NEW ORLEANS, LA 681,503681.5k $39.0m $39.0m 0.14% Added +49.1k +49,115
59 PINNACLE ASSOCIATES LTD 0.50% of their portfolio NEW YORK, NY 681,262681.3k $39.0m $39.0m 0.50% Reduced -13.6k -13,574
60 NOTTINGHAM ADVISORS, INC. 5.36% of their portfolio AMHERST, NY 671,914671.9k $38.5m $38.5m 5.36% Reduced -8.8k -8,813
61 KESTRA PRIVATE WEALTH SERVICES, LLC 0.47% of their portfolio AUSTIN, TX 657,514657.5k $37.6m $37.6m 0.47% Added +24.3k +24,330
62 MAI Capital Management 0.21% of their portfolio INDEPENDENCE, OH 647,439647.4k $37.1m $37.1m 0.21% Added +135.9k +135,936
63 &PARTNERS 0.19% of their portfolio NASHVILLE, TN 642,316642.3k $36.8m $36.8m 0.19% Reduced -19.0k -18,985
64 STEPHENS INC /AR/ 0.44% of their portfolio LITTLE ROCK, AR 619,861619.9k $35.5m $35.5m 0.44% Reduced -24.2k -24,207
65 FIRST FINANCIAL BANK - TRUST DIVISION 2.85% of their portfolio HAMILTON, OH 605,468605.5k $34.7m $34.7m 2.85% Added +41.6k +41,562
66 Coastal Bridge Advisors, LLC 2.59% of their portfolio WESTPORT, CT 604,267604.3k $34.6m $34.6m 2.59% Reduced -13.7k -13,659
67 Capital Investment Advisors, LLC 0.52% of their portfolio ATLANTA, GA 595,634595.6k $34.1m $34.1m 0.52% Reduced -24.9k -24,919
68 MERCER GLOBAL ADVISORS INC /ADV 0.05% of their portfolio DENVER, CO 544,117544.1k $32.0m $32.0m 0.05% Added +104.1k +104,089
69 CORNERSTONE ENTERPRISES, LLC 14.87% of their portfolio APPLETON, WI 542,919542.9k $31.1m $31.1m 14.87% Added +21.7k +21,738
70 PRINCIPAL SECURITIES, INC. 0.47% of their portfolio DES MOINES, IA 526,834526.8k $30.2m $30.2m 0.47% Reduced -93.8k -93,753
71 Bouchey Financial Group, Ltd. 2.22% of their portfolio TROY, NY 517,009517.0k $29.7m $29.7m 2.22% Added +43.0k +42,993
72 J.W. COLE ADVISORS, INC. 0.49% of their portfolio TAMPA, FL 506,956507.0k $20.1m $20.1m 0.49% Reduced -21.6k -21,582
73 Sanctuary Advisors, LLC 0.16% of their portfolio INDIANAPOLIS, IN 503,929503.9k $28.8m $28.8m 0.16% Reduced -919.9k -919,929
74 Mariner, LLC 0.03% of their portfolio Overland Park, KS 497,524497.5k $28.5m $28.5m 0.03% Added +48.9k +48,930
75 BOKF, NA 0.43% of their portfolio TULSA, OK 487,439487.4k $27.9m $27.9m 0.43% Added +24.7k +24,659
76 Horizon Advisory Services, Inc. 14.08% of their portfolio WEST HENRIETTA, NY 486,233486.2k $27.8m $27.8m 14.08% Added +3.0k +2,960
77 Sterling Investment Counsel, LLC 7.97% of their portfolio Buffalo, NY 486,101486.1k $27.8m $27.8m 7.97% Added +17.7k +17,699
78 RATIONAL ADVISORS, INC. 2.81% of their portfolio San Juan, PR 479,454479.5k $27.4m $27.4m 2.81% Reduced -27.8k -27,814
79 Beacon Pointe Advisors, LLC 0.19% of their portfolio NEWPORT BEACH, CA 475,841475.8k $27.2m $27.2m 0.19% Added +29.5k +29,529
80 Cerity Partners LLC 0.04% of their portfolio NEW YORK, NY 469,991470.0k $26.9m $26.9m 0.04% Added +271.2k +271,218
81 Aptus Capital Advisors, LLC 0.23% of their portfolio FAIRHOPE, AL 466,040466.0k $26.7m $26.7m 0.23% Reduced -1.8k -1,805
82 HBW ADVISORY SERVICES LLC 2.86% of their portfolio SIMI VALLEY, CA 460,502460.5k $26.4m $26.4m 2.86% Reduced -20.8k -20,839
83 Prospera Financial Services Inc 0.43% of their portfolio Dallas, TX 455,076455.1k $26.1m $26.1m 0.43% Reduced -85.3k -85,283
84 DAVENPORT & Co LLC 0.14% of their portfolio RICHMOND, VA 450,908450.9k $25.8m $25.8m 0.14% Added +29.8k +29,821
85 Wagner Wealth Management, LLC 5.47% of their portfolio GREENVILLE, SC 449,273449.3k $25.7m $25.7m 5.47% Added +31.5k +31,510
86 Cooper Financial Group 2.65% of their portfolio IRVINE, CA 434,906434.9k $24.9m $24.9m 2.65% Added +11.4k +11,404
87 Midwest Trust Co 0.31% of their portfolio Overland Park, KS 433,278433.3k $24.8m $24.8m 0.31% Added +19.5k +19,473
88 Orion Porfolio Solutions, LLC 0.18% of their portfolio OMAHA, NE 429,250429.2k $24.6m $24.6m 0.18% Reduced -24.3k -24,262
89 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 419,400419.4k $24.0m $24.0m 0.02% Added +44.1k +44,099
90 FUKOKU MUTUAL LIFE INSURANCE Co 1.56% of their portfolio TOKYO, M0 415,000415.0k $23.8m $23.8m 1.56% Unchanged
91 ORRSTOWN FINANCIAL SERVICES INC 3.93% of their portfolio HARRISBURG, PA 412,277412.3k $23.6m $23.6m 3.93% Added +5.9k +5,931
92 Lido Advisors, LLC 0.09% of their portfolio Los Angeles, CA 403,182403.2k $23.0m $23.0m 0.09% Added +8.2k +8,242
93 Melia Wealth LLC 10.34% of their portfolio TULSA, OK 390,963391.0k $22.4m $22.4m 10.34% Added +6.1k +6,111
94 Avantax Planning Partners, Inc. 0.62% of their portfolio DUBUQUE, IA 385,563385.6k $22.1m $22.1m 0.62% Reduced -3.2k -3,187
95 Pinnacle Wealth Management Advisory Group, LLC 1.50% of their portfolio RED BANK, NJ 381,952382.0k $21.9m $21.9m 1.50% Reduced -9.5k -9,460
96 TigerOak Management, L.L.C. 6.61% of their portfolio NASHVILLE, TN 378,364378.4k $21.7m $21.7m 6.61% Added +3.5k +3,453
97 Global Wealth Management Investment Advisory, Inc. 3.41% of their portfolio FORT LAUDERDALE, FL 371,626371.6k $21.3m $21.3m 3.41% Added +27.0k +26,954
98 Curran Financial Partners, LLC 4.02% of their portfolio DANIEL ISLAND, SC 369,666369.7k $21.2m $21.2m 4.02% Added +29.4k +29,396
99 Rezny Wealth Management, Inc. 4.21% of their portfolio Fort Myers, FL 364,538364.5k $20.9m $20.9m 4.21% Reduced -5.8k -5,846
100 Chicago Partners Investment Group LLC 0.52% of their portfolio CHICAGO, IL 362,648362.6k $21.2m $21.2m 0.52% Added +41.9k +41,892