Vault-13

JANUS DETROIT STR TR JMBS

HENDERSON MTG · ETP · CUSIP 47103U852

269 institutional holders +37 vs Q3 2025
141,203,214141.2m shares reported held*
$6.4bnreported value*
47 new 127 added 62 reduced 23 sold out net bought ≈ $518.3m (+11.3m 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 ($10.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $45.61.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 92Q4 22: 96Q1 23: 102Q2 23: 116Q3 23: 127Q4 23: 164Q1 24: 171Q2 24: 201Q3 24: 204Q4 24: 214Q1 25: 226Q2 25: 220Q3 25: 232Q4 25: 269269Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202292
Q4 202296
Q1 2023102
Q2 2023116
Q3 2023127
Q4 2023164
Q1 2024171
Q2 2024201
Q3 2024204
Q4 2024214
Q1 2025226
Q2 2025220
Q3 2025232
Q4 2025269

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 112 bought or addedQ1 24: 65 cut or sold outQ2 24: 124 bought or addedQ2 24: 64 cut or sold outQ2 24Q3 24: 123 bought or addedQ3 24: 82 cut or sold outQ4 24: 120 bought or addedQ4 24: 90 cut or sold outQ4 24Q1 25: 154 bought or addedQ1 25: 77 cut or sold outQ2 25: 127 bought or addedQ2 25: 101 cut or sold outQ2 25Q3 25: 157 bought or addedQ3 25: 76 cut or sold outQ4 25: 174 bought or addedQ4 25: 85 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202411265
Q2 202412464
Q3 202412382
Q4 202412090
Q1 202515477
Q2 2025127101
Q3 202515776
Q4 202517485

Calls vs puts

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

CallsPuts
$0$200k$400k$600kQ1 25 calls: $176.3kQ1 25 puts: $140.1kQ1 25P/C 0.79Q2 25 calls: $400.9kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $493.2kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$176.3k$140.1k0.79
Q2 2025$400.9k$00.00
Q3 2025$493.2k$00.00
Q4 2025$0$0—

Biggest buyers

MORGAN STANLEY Added +4,119,668+4.1m
Focus Partners Wealth New +2,806,002+2.8m
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +1,654,186+1.7m
AlphaCore Capital LLC Added +821,577+821.6k
KWB Wealth Added +605,298+605.3k
ROYAL BANK OF CANADA Added +582,234+582.2k
Haverford Trust Co Added +389,469+389.5k
Insight Wealth Strategies, LLC New +350,856+350.9k
Modern Wealth Management, LLC Added +340,983+341.0k
INSPIRION WEALTH ADVISORS, LLC Added +330,114+330.1k

Biggest sellers

NorthCoast Asset Management LLC Sold out -2,594,064-2.6m
Moment Partners, LLC Sold out -424,135-424.1k
Rise Advisors, LLC Reduced -336,496-336.5k
Corient Private Wealth LP Reduced -282,176-282.2k
Brookstone Capital Management Sold out -278,166-278.2k
LINCOLN CAPITAL CORP Reduced -136,224-136.2k
Pictet North America Advisors SA Reduced -122,826-122.8k
Sanctuary Advisors, LLC Reduced -113,864-113.9k
FDx Advisors, Inc. Sold out -109,697-109.7k
Madison Asset Management, LLC Reduced -109,092-109.1k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 25,412,54225.4m $1.2bn $1.2bn 0.07% Added +4.1m +4,119,668
2 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.15% of their portfolio SAN FRANCISCO, CA 21,610,59821.6m $987.4m $987.4m 0.15% Added +82.1k +82,081
3 BANK OF AMERICA CORP /DE/ 0.06% of their portfolio CHARLOTTE, NC 18,328,06518.3m $837.4m $837.4m 0.06% Reduced -3.3k -3,302
4 Richard Bernstein Advisors LLC 11.93% of their portfolio NEW YORK, NY 8,887,2478.9m $406.1m $406.1m 11.93% Reduced -64.7k -64,709
5 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 3,416,4013.4m $156.1m $156.1m 0.05% Reduced -79.6k -79,588
6 Haverford Trust Co 1.31% of their portfolio Radnor, PA 3,213,6563.2m $146.8m $146.8m 1.31% Added +389.5k +389,469
7 OSAIC HOLDINGS, INC. 0.21% of their portfolio SCOTTSDALE, AZ 3,083,0063.1m $140.9m $140.9m 0.21% Added +62.5k +62,475
8 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 3,028,2203.0m $138.4m $138.4m 0.04% Reduced -80.8k -80,811
9 Focus Partners Wealth 0.15% of their portfolio ST LOUIS, MO 2,806,0022.8m $128.2m $128.2m 0.15% New
10 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,363,5302.4m $108.0m $108.0m 0.02% Added +299.4k +299,387
11 Gradient Investments LLC 1.62% of their portfolio ARDEN HILLS, MN 2,227,2062.2m $101.8m $101.8m 1.62% Added +88.4k +88,393
12 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 2,078,3642.1m $95.0m $95.0m 0.02% Added +582.2k +582,234
13 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.12% of their portfolio PLYMOUTH, MN 1,893,4781.9m $86.6m $86.6m 0.12% Added +1.7m +1,654,186
14 Hamilton Capital, LLC 4.32% of their portfolio COLUMBUS, OH 1,892,3211.9m $86.5m $86.5m 4.32% First filing
15 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,886,2111.9m $86.2m $86.2m 0.02% Added +124.8k +124,760
16 FOSTER & MOTLEY INC 4.41% of their portfolio CINCINNATI, OH 1,809,4571.8m $82.7m $82.7m 4.41% Added +87.6k +87,647
17 Modern Wealth Management, LLC 1.45% of their portfolio KANSAS CITY, MO 1,742,7971.7m $79.6m $79.6m 1.45% Added +341.0k +340,983
18 Pallas Capital Advisors LLC 2.48% of their portfolio BRAINTREE, MA 1,647,2951.6m $75.3m $75.3m 2.48% Added +173.4k +173,403
19 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,562,6811.6m $71.4m $71.4m 0.02% Added +107.3k +107,267
20 Madison Asset Management, LLC 0.81% of their portfolio MADISON, WI 1,532,0281.5m $70.0m $70.0m 0.81% Reduced -109.1k -109,092
21 Corient Private Wealth LP 0.04% of their portfolio MIAMI, FL 1,518,6081.5m $57.6m $57.6m 0.04% Reduced -282.2k -282,176
22 Parallel Advisors, LLC 1.26% of their portfolio SAN FRANCISCO, CA 1,507,4171.5m $68.9m $68.9m 1.26% Added +77.7k +77,711
23 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,224,6721.2m $56.0m $56.0m 0.01% Reduced -37.1k -37,076
24 CAPITAL ADVISORS INC/OK 0.79% of their portfolio TULSA, OK 1,071,3571.1m $49.0m $49.0m 0.79% Reduced -8.2k -8,159
25 Divergent Planning, LLC 10.69% of their portfolio BETHESDA, MD 918,067918.1k $41.8m $41.8m 10.69% Added +43.6k +43,628
26 CGN Advisors LLC 3.18% of their portfolio MANHATTAN, KS 879,758879.8k $40.2m $40.2m 3.18% Added +33.5k +33,471
27 AlphaCore Capital LLC 0.85% of their portfolio LA JOLLA, CA 825,936825.9k $37.7m $37.7m 0.85% Added +821.6k +821,577
28 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 743,409743.4k $34.0m $34.0m 0.04% Added +30.3k +30,312
29 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 708,135708.1k $32.4m $32.4m 0.04% Added +56.7k +56,703
30 KWB Wealth 2.99% of their portfolio REDLANDS, CA 690,537690.5k $31.6m $31.6m 2.99% Added +605.3k +605,298
31 INSPIRION WEALTH ADVISORS, LLC 3.66% of their portfolio LIBERTYVILLE, IL 653,722653.7k $29.9m $29.9m 3.66% Added +330.1k +330,114
32 ALBION FINANCIAL GROUP /UT 1.77% of their portfolio SALT LAKE CITY, UT 623,852623.9k $28.5m $28.5m 1.77% Added +26.0k +26,043
33 ARVEST INVESTMENTS, INC. 3.91% of their portfolio LOWELL, AR 608,488608.5k $27.8m $27.8m 3.91% Reduced -510 -510
34 GUGGENHEIM CAPITAL LLC 0.20% of their portfolio CHICAGO, IL 607,883607.9k $27.8m $27.8m 0.20% Added +65.9k +65,945
35 Towneley Capital Management, Inc / DE 5.76% of their portfolio LAGUNA HILLS, CA 598,262598.3k $27.3m $27.3m 5.76% Added +8.9k +8,858
36 GREAT VALLEY ADVISOR GROUP, INC. 0.52% of their portfolio WILMINGTON, DE 596,680596.7k $27.3m $27.3m 0.52% Added +60.1k +60,081
37 Horizon Investments, LLC 0.32% of their portfolio Charlotte, NC 551,200551.2k $25.2m $25.2m 0.32% Added +6.9k +6,913
38 Legacy Private Trust Co. 1.47% of their portfolio NEENAH, WI 544,963545.0k $24.9m $24.9m 1.47% Added +69.8k +69,801
39 Rockefeller Capital Management L.P. 0.04% of their portfolio NEW YORK, NY 503,395503.4k $23.0m $23.0m 0.04% Added +77.1k +77,059
40 Kestra Investment Management, LLC 0.56% of their portfolio AUSTIN, TX 502,128502.1k $22.9m $22.9m 0.56% Added +76.8k +76,821
41 Sage Mountain Advisors LLC 1.13% of their portfolio ATLANTA, GA 467,887467.9k $21.4m $21.4m 1.13% Added +21.3k +21,270
42 AllGen Financial Advisors, Inc. 4.87% of their portfolio ORLANDO, FL 449,678449.7k $20.5m $20.5m 4.87% Added +127.3k +127,255
43 Leo Wealth, LLC 1.44% of their portfolio HURST, TX 434,248434.2k $19.8m $19.8m 1.44% Added +278.0k +277,996
44 Financial Enhancement Group LLC 2.50% of their portfolio ANDERSON, IN 419,204419.2k $19.2m $19.2m 2.50% Added +2.5k +2,540
45 SeaBridge Investment Advisors LLC 3.12% of their portfolio SUMMIT, NJ 414,195414.2k $18.9m $18.9m 3.12% Reduced -17.4k -17,358
46 STANSBERRY ASSET MANAGEMENT, LLC 1.84% of their portfolio Westlake, TX 397,054397.1k $18.1m $18.1m 1.84% Added +193.7k +193,694
47 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 380,847380.8k $17.4m $17.4m 0.00% Added +323.0k +323,022
48 Asio Capital, LLC 2.26% of their portfolio LEXINGTON, KY 351,297351.3k $16.1m $16.1m 2.26% Added +15.5k +15,480
49 Insight Wealth Strategies, LLC 1.84% of their portfolio SAN RAMON, CA 350,856350.9k $16.0m $16.0m 1.84% New
50 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 339,315339.3k $15.5m $15.5m 0.04% Added +5.6k +5,611
51 Goelzer Investment Management, Inc. 0.69% of their portfolio CARMEL, IN 325,991326.0k $14.9m $14.9m 0.69% Added +13.7k +13,725
52 Blue Edge Capital, LLC 1.99% of their portfolio RICHMOND, VA 325,450325.4k $14.9m $14.9m 1.99% Added +11.7k +11,670
53 Cambridge Investment Research Advisors, Inc. 0.04% of their portfolio FAIRFIELD, IA 324,417324.4k $14.8m $14.8m 0.04% Added +10.1k +10,123
54 Envestnet Portfolio Solutions, Inc. 0.05% of their portfolio BERWYN, PA 322,466322.5k $14.7m $14.7m 0.05% Reduced -5.7k -5,716
55 MML INVESTORS SERVICES, LLC 0.04% of their portfolio SPRINGFIELD, MA 319,652319.7k $14.6m $14.6m 0.04% Reduced -19.9k -19,882
56 Focused Wealth Management, Inc 1.42% of their portfolio Newburgh, NY 291,732291.7k $13.3m $13.3m 1.42% Added +27.8k +27,830
57 Pine Valley Investments Ltd Liability Co 0.64% of their portfolio MARLTON, NJ 280,807280.8k $12.8m $12.8m 0.64% Added +13.3k +13,307
58 SEVEN MILE ADVISORY 2.16% of their portfolio TALLAHASSEE, FL 275,386275.4k $12.6m $12.6m 2.16% Added +18.0k +17,955
59 Secure Asset Management, LLC 1.97% of their portfolio Troy, MI 274,201274.2k $12.5m $12.5m 1.97% Added +14.0k +13,975
60 Allen Capital Group, LLC 1.15% of their portfolio GRAND ISLAND, NE 273,933273.9k $12.5m $12.5m 1.15% Added +20.7k +20,723
61 Fourth Dimension Wealth, LLC 4.41% of their portfolio MIDDLEBURG HEIGHTS, OH 264,593264.6k $12.1m $12.1m 4.41% Added +8.1k +8,136
62 ROSENBLUM SILVERMAN SUTTON S F INC /CA 2.53% of their portfolio SAN FRANCISCO, CA 239,165239.2k $10.9m $10.9m 2.53% Added +41.0k +40,995
63 Sage Advisory Services, Ltd.Co. 5.75% of their portfolio AUSTIN, TX 231,243231.2k $10.6m $10.6m 5.75% Added +43.8k +43,751
64 Pictet North America Advisors SA 0.99% of their portfolio GENEVA 73, V8 227,223227.2k $10.4m $10.4m 0.99% Reduced -122.8k -122,826
65 True North Advisors, LLC 1.33% of their portfolio Dallas, TX 225,335225.3k $10.3m $10.3m 1.33% New
66 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 207,267207.3k $9.5m $9.5m 0.01% Reduced -9.8k -9,773
67 Englebert Financial Advisers, LLC 9.99% of their portfolio Allentown, PA 189,972190.0k $8.7m $8.7m 9.99% First filing
68 Vestmark Advisory Solutions, Inc. 0.11% of their portfolio Wakefield, MA 181,147181.1k $8.3m $8.3m 0.11% New
69 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 172,185172.2k $7.9m $7.9m 0.01% Added +10.2k +10,244
70 Seed Wealth Management, Inc. 5.41% of their portfolio EVANSTON, IL 171,652171.7k $7.8m $7.8m 5.41% Added +22.1k +22,108
71 ELEVATION POINT WEALTH PARTNERS, LLC 0.38% of their portfolio DENVER, CO 170,978171.0k $7.8m $7.8m 0.38% Added +2.3k +2,325
72 Symphony Financial Services, Inc. 3.95% of their portfolio AKRON, OH 168,814168.8k $7.7m $7.7m 3.95% Reduced -419 -419
73 WESPAC Advisors SoCal, LLC 1.54% of their portfolio Pasadena, CA 167,118167.1k $7.6m $7.6m 1.54% Added +8.9k +8,880
74 GENESIS PRIVATE WEALTH, LLC 2.36% of their portfolio ASHBURN, VA 166,517166.5k $7.6m $7.6m 2.36% Added +19.6k +19,601
75 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 155,327155.3k $7.1m $7.1m 0.00% Added +142.5k +142,537
76 Sanctuary Advisors, LLC 0.04% of their portfolio INDIANAPOLIS, IN 147,989148.0k $6.8m $6.8m 0.04% Reduced -113.9k -113,864
77 Cornerstone Wealth Group, LLC 0.45% of their portfolio HUNTERSVILLE, NC 145,261145.3k $6.6m $6.6m 0.45% Added +8.0k +8,000
78 MONECO ADVISORS, LLC 0.52% of their portfolio FAIRFIELD, CT 143,212143.2k $6.5m $6.5m 0.52% Added +18.4k +18,394
79 Ancora Advisors LLC 0.13% of their portfolio Cleveland, OH 142,523142.5k $6.5m $6.5m 0.13% Added +27.7k +27,663
80 Meridian Wealth Management, LLC 0.22% of their portfolio LEXINGTON, KY 136,190136.2k $6.2m $6.2m 0.22% New
81 IVC Wealth Advisors LLC 2.65% of their portfolio SILVERDALE, PA 133,304133.3k $6.1m $6.1m 2.65% Added +7.9k +7,914
82 Prasad Wealth Partners, LLC 1.61% of their portfolio INDEPENDENCE, OH 131,845131.8k $6.0m $6.0m 1.61% New
83 Unique Wealth Strategies, LLC 2.19% of their portfolio BURR RIDGE, IL 122,091122.1k $5.6m $5.6m 2.19% Added +2.4k +2,403
84 Rothschild Wealth LLC 0.46% of their portfolio OAK BROOK, IL 104,702104.7k $4.8m $4.8m 0.46% Added +12.3k +12,310
85 Transamerica Financial Advisors, LLC 0.37% of their portfolio CEDAR RAPIDS, IA 96,80996.8k $4.4m $4.4m 0.37% Reduced -4.0k -3,977
86 BAILARD, INC. 0.10% of their portfolio Foster City, CA 96,76196.8k $4.4m $4.4m 0.10% Added +22.3k +22,281
87 Brown Financial Advisors 1.58% of their portfolio MILFORD, OH 94,52594.5k $4.3m $4.3m 1.58% Reduced -1.4k -1,430
88 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 93,24793.2k $4.3m $4.3m 0.02% Added +21.2k +21,184
89 Destiny Wealth Partners, LLC 0.46% of their portfolio TAVARES, FL 87,63387.6k $4.0m $4.0m 0.46% Added +228 +228
90 HEADINVEST, LLC 0.78% of their portfolio Portland, ME 85,91685.9k $3.9m $3.9m 0.78% Added +57.6k +57,630
91 SHEPHERD KAPLAN KROCHUK, LLC 3.19% of their portfolio Boston, MA 84,48684.5k $3.9m $3.9m 3.19% Added +5.1k +5,090
92 Three Magnolias Financial Advisors, LLC 2.24% of their portfolio WINSTON-SALEM, NC 78,99579.0k $3.6m $3.6m 2.24% Reduced -22.6k -22,570
93 Paladin Wealth, LLC 2.46% of their portfolio ARDEN HILLS, MN 78,86778.9k $3.6m $3.6m 2.46% Added +148 +148
94 COMERICA BANK 0.01% of their portfolio DALLAS, TX 76,12576.1k $3.5m $3.5m 0.01% Added +1.2k +1,194
95 Atria Investments, Inc 0.04% of their portfolio Charlotte, NC 73,99374.0k $3.4m $3.4m 0.04% Reduced -3.9k -3,901
96 Waverly Advisors, LLC 0.03% of their portfolio BIRMINGHAM, AL 72,00172.0k $3.3m $3.3m 0.03% Added +14.8k +14,779
97 VIAWEALTH, LLC 1.84% of their portfolio Leawood, KS 71,59771.6k $3.3m $3.3m 1.84% Added +47.6k +47,574
98 Westwood Wealth Management 2.42% of their portfolio Los Angeles, CA 70,43570.4k $3.2m $3.2m 2.42% New
99 Lionshead Wealth Management, LLC 2.42% of their portfolio New York, NY 70,43570.4k $3.2m $3.2m 2.42% Added +23.0k +23,049
100 Sterneck Capital Management, LLC 1.23% of their portfolio KANSAS CITY, MO 59,91459.9k $2.7m $2.7m 1.23% Added +2.6k +2,555