Vault-13

LISTED FD TR INFL

HORIZON KINETICS · ETP · CUSIP 53656F623

142 institutional holders +8 vs Q4 2024
17,090,70317.1m shares reported held*
$692.8mreported value*
24 new 61 added 32 reduced 10 sold out net bought ≈ $43.0m (+1.2m 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 ≈ $40.54. Options: 1 managers hold calls ($296.7k notional), 1 hold puts ($44.7k).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 152Q4 22: 169Q1 23: 164Q2 23: 149Q3 23: 144Q4 23: 133Q1 24: 109Q2 24: 111Q3 24: 114Q4 24: 134Q1 25: 142142Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022152
Q4 2022169
Q1 2023164
Q2 2023149
Q3 2023144
Q4 2023133
Q1 2024109
Q2 2024111
Q3 2024114
Q4 2024134
Q1 2025142

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q2 23: 58 bought or addedQ2 23: 89 cut or sold outQ3 23: 48 bought or addedQ3 23: 84 cut or sold outQ3 23Q4 23: 37 bought or addedQ4 23: 98 cut or sold outQ1 24: 35 bought or addedQ1 24: 85 cut or sold outQ1 24Q2 24: 57 bought or addedQ2 24: 46 cut or sold outQ3 24: 49 bought or addedQ3 24: 51 cut or sold outQ3 24Q4 24: 75 bought or addedQ4 24: 37 cut or sold outQ1 25: 85 bought or addedQ1 25: 42 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20235889
Q3 20234884
Q4 20233798
Q1 20243585
Q2 20245746
Q3 20244951
Q4 20247537
Q1 20258542

Calls vs puts

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

CallsPuts
$0$100k$200k$300kQ2 24 calls: $94.8kQ2 24 puts: $55.6kQ2 24P/C 0.59Q3 24 calls: $67.7kQ3 24 puts: $71.4kQ3 24P/C 1.06Q4 24 calls: $262.8kQ4 24 puts: $41.9kQ4 24P/C 0.16Q1 25 calls: $296.7kQ1 25 puts: $44.7kQ1 25P/C 0.15
Numbers
QuarterCallsPutsP/C
Q2 2024$94.8k$55.6k0.59
Q3 2024$67.7k$71.4k1.06
Q4 2024$262.8k$41.9k0.16
Q1 2025$296.7k$44.7k0.15

Biggest buyers

Kestra Investment Management, LLC New +557,404+557.4k
LPL Financial LLC Added +258,147+258.1k
JPMORGAN CHASE & CO Added +218,365+218.4k
Janney Montgomery Scott LLC Added +163,044+163.0k
SCS Capital Management LLC New +114,654+114.7k
ROYAL BANK OF CANADA Added +100,608+100.6k
UBS Group AG Added +69,201+69.2k
OXFORD FINANCIAL GROUP, LTD. LLC Added +66,474+66.5k
ENVESTNET ASSET MANAGEMENT INC Added +55,070+55.1k
Baird Financial Group, Inc. Added +42,058+42.1k

Biggest sellers

FOURPATH CAPITAL MANAGEMENT, LLC Sold out -301,474-301.5k
JANE STREET GROUP, LLC Reduced -172,003-172.0k
FLOW TRADERS U.S. LLC Sold out -170,753-170.8k
Corient Private Wealth LP Sold out -84,221-84.2k
Moors & Cabot, Inc. Reduced -33,065-33.1k
D. E. Shaw & Co., Inc. Reduced -21,345-21.3k
Cambridge Investment Research Advisors, Inc. Reduced -20,353-20.4k
Ausdal Financial Partners, Inc. Reduced -12,953-13.0k
HRT FINANCIAL LP Sold out -12,508-12.5k
CITADEL ADVISORS LLC Reduced -9,642-9.6k

Biggest calls

CITADEL ADVISORS LLC Added $296.7k7.3k shares

Biggest puts

CITADEL ADVISORS LLC Unchanged $44.7k1.1k 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 4,147,1504.1m $168.6m $168.6m 0.01% Added +218.4k +218,365
2 OXFORD FINANCIAL GROUP, LTD. LLC 11.39% of their portfolio INDIANAPOLIS, IN 3,995,5774.0m $162.4m $162.4m 11.39% Added +66.5k +66,474
3 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,137,2811.1m $46.2m $46.2m 0.02% Added +258.1k +258,147
4 Kestra Investment Management, LLC 0.30% of their portfolio AUSTIN, TX 557,404557.4k $17.2m $17.2m 0.30% New
5 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 550,535550.5k $22.4m $22.4m 0.01% Added +100.6k +100,608
6 One Charles Private Wealth Services, LLC 6.42% of their portfolio HINGHAM, MA 487,659487.7k $19.8m $19.8m 6.42% Added +27.2k +27,244
7 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 474,971475.0k $19.3m $19.3m 0.00% Added +42.0k +42,004
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 393,782393.8k $16.0m $16.0m 0.00% Added +69.2k +69,201
9 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 318,638318.6k $13.0m $13.0m 0.00% Added +34.5k +34,542
10 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 300,585300.6k $12.2m $12.2m 0.03% Added +21.2k +21,177
11 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 271,969272.0k $11.1m $11.1m 0.02% Added +5.3k +5,345
12 CAPTRUST FINANCIAL ADVISORS 0.03% of their portfolio RALEIGH, NC 262,208262.2k $10.7m $10.7m 0.03% Added +14.8k +14,830
13 Janney Montgomery Scott LLC 0.03% of their portfolio PHILADELPHIA, PA 253,111253.1k $10.3m $10.3m 0.03% Added +163.0k +163,044
14 Lowe Wealth Advisors, LLC 4.06% of their portfolio COLUMBIA, MD 235,330235.3k $9.6m $9.6m 4.06% Added +4.3k +4,340
15 Cullen/Frost Bankers, Inc. 0.10% of their portfolio San Antonio, TX 172,000172.0k $7.0m $7.0m 0.10% Unchanged
16 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 169,096169.1k $6.9m $6.9m 0.00% Added +3.7k +3,709
17 Longview Financial Advisors, Inc. 5.89% of their portfolio HUNTSVILLE, AL 168,749168.7k $6.9m $6.9m 5.89% Added +12.0k +11,956
18 Philip James Wealth Mangement, LLC 0.74% of their portfolio MILTON, GA 148,931148.9k $6.1m $6.1m 0.74% Added +579 +579
19 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 140,324140.3k $5.7m $5.7m 0.00% Added +55.1k +55,070
20 Moors & Cabot, Inc. 0.28% of their portfolio BOSTON, MA 134,233134.2k $5.5m $5.5m 0.28% Reduced -33.1k -33,065
21 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 124,625124.6k $5.1m $5.1m 0.01% Added +42.1k +42,058
22 Atlas Wealth Partners, LLC 6.03% of their portfolio WYOMISSING, PA 120,281120.3k $4.9m $4.9m 6.03% Added +2.4k +2,411
23 IFP Advisors, Inc 0.15% of their portfolio TAMPA, FL 116,248116.2k $4.8m $4.8m 0.15% Added +13.3k +13,257
24 SCS Capital Management LLC 0.06% of their portfolio BOSTON, MA 114,654114.7k $4.7m $4.7m 0.06% New
25 Independent Family Office, LLC 2.25% of their portfolio ALBANY, NY 105,356105.4k $4.3m $4.3m 2.25% Added +18.1k +18,055
26 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 100,970101.0k $4.1m $4.1m 0.01% Added +7.3k +7,278
27 Aptus Capital Advisors, LLC 0.05% of their portfolio FAIRHOPE, AL 99,44499.4k $4.0m $4.0m 0.05% Added +4.4k +4,373
28 HORIZON KINETICS ASSET MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 98,34698.3k $4.0m $4.0m 0.05% Added +3.1k +3,079
29 NCM Capital Management, LLC 1.70% of their portfolio RAMSEY, NJ 92,96393.0k $3.8m $3.8m 1.70% Added +7.5k +7,549
30 GUARDIAN WEALTH ADVISORS, LLC / NC 0.29% of their portfolio RALEIGH, NC 89,91889.9k $3.7m $3.7m 0.29% Added +5.8k +5,817
31 EagleClaw Capital Managment, LLC 0.55% of their portfolio BOSTON, MA 86,57286.6k $3.5m $3.5m 0.55% Added +462 +462
32 NewEdge Wealth, LLC 0.06% of their portfolio STAMFORD, CT 85,54785.5k $3.5m $3.5m 0.06% Reduced -751 -751
33 INTREPID FAMILY OFFICE LLC 5.14% of their portfolio SARASOTA, FL 85,00085.0k $3.5m $3.5m 5.14% Unchanged
34 OneDigital Investment Advisors LLC 0.04% of their portfolio OVERLAND PARK, KS 72,95973.0k $3.0m $3.0m 0.04% Reduced -684 -684
35 Pekin Hardy Strauss, Inc. 0.29% of their portfolio CHICAGO, IL 57,83357.8k $2.4m $2.4m 0.29% Reduced -2.5k -2,523
36 DAVENPORT & Co LLC 0.01% of their portfolio RICHMOND, VA 50,57350.6k $2.1m $2.1m 0.01% Added +7.0k +6,950
37 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 49,94249.9k $2.0m $2.0m 0.02% Added +170 +170
38 PECAUT & CO. 0.67% of their portfolio SIOUX CITY, IA 48,15048.1k $2.0m $2.0m 0.67% Unchanged
39 Stratos Wealth Advisors, LLC 0.10% of their portfolio BEACHWOOD, OH 45,91345.9k $1.9m $1.9m 0.10% Added +67 +67
40 Spire Wealth Management 0.06% of their portfolio MCLEAN, VA 45,73445.7k $1.9m $1.9m 0.06% Reduced -2.9k -2,883
41 Lionsbridge Wealth Management LLC 1.53% of their portfolio JACKSONVILLE BEACH, FL 42,47042.5k $1.7m $1.7m 1.53% Reduced -8.1k -8,069
42 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 41,21441.2k $1.7m $1.7m 0.00% Reduced -62 -62
43 Compass Ion Advisors, LLC 0.19% of their portfolio CONSHOHOCKEN, PA 39,21339.2k $1.6m $1.6m 0.19% Added +82 +82
44 Abacus Planning Group, Inc. 0.28% of their portfolio COLUMBIA, SC 38,87638.9k $1.6m $1.6m 0.28% Reduced -41 -41
45 Wealthspire Advisors, LLC 0.01% of their portfolio NEW YORK, NY 37,97438.0k $1.5m $1.5m 0.01% Added +2.1k +2,083
46 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 36,02336.0k $1.5m $1.5m 0.02% Added +1.1k +1,116
47 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 34,99435.0k $1.4m $1.4m 0.00% Added +1.6k +1,597
48 Cresset Asset Management, LLC 0.01% of their portfolio Chicago, IL 29,85729.9k $1.2m $1.2m 0.01% Added +10.2k +10,155
49 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 26,88126.9k $1.1m $1.1m 0.00% Added +14.6k +14,609
50 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 25,98226.0k $1.1m $1.1m 0.00% Reduced -20.4k -20,353
51 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 25,76025.8k $1.0m $1.0m 0.00% Added +510 +510
52 Trilogy Capital Inc. 0.05% of their portfolio IRVINE, CA 24,36524.4k $990.4k $990.4k 0.05% Added +1.8k +1,825
53 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 23,58123.6k $958.6k $958.6k 0.00% New
54 Baker Ellis Asset Management LLC 0.14% of their portfolio Vancouver, WA 23,41823.4k $951.9k $951.9k 0.14% Reduced -500 -500
55 ONE PLUS ONE WEALTH MANAGEMENT, LLC 0.48% of their portfolio JUPITER, FL 21,62821.6k $879.2k $879.2k 0.48% Reduced -4.2k -4,234
56 GUIDANCE CAPITAL, INC 0.26% of their portfolio LOUSVILLE, KY 20,72520.7k $862.4k $862.4k 0.26% Added +9.6k +9,552
57 Stegent Equity Advisors, Inc. 0.85% of their portfolio HOUSTON, TX 20,54820.5k $835.3k $835.3k 0.85% Added +1.8k +1,803
58 CW Advisors, LLC 0.01% of their portfolio BOSTON, MA 20,43220.4k $830.7k $830.7k 0.01% New
59 SCHWARTZ INVESTMENT COUNSEL INC 0.03% of their portfolio PLYMOUTH, MI 19,00019.0k $772.4k $772.4k 0.03% Unchanged
60 Ferguson Shapiro LLC 0.28% of their portfolio DECATUR, GA 18,72718.7k $761.3k $761.3k 0.28% Reduced -591 -591
61 JNBA Financial Advisors 0.08% of their portfolio BLOOMINGTON, MN 18,58118.6k $755.3k $755.3k 0.08% Reduced -3.7k -3,743
62 Auxano Advisors, LLC 0.19% of their portfolio BELLEVUE, WA 17,33717.3k $704.8k $704.8k 0.19% Reduced -8.7k -8,749
63 Straight Path Wealth Management 0.28% of their portfolio Jenison, MI 16,75516.8k $681.1k $681.1k 0.28% Added +2.6k +2,575
64 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 16,62916.6k $676.0k $676.0k 0.00% Added +187 +187
65 KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio FORT WORTH, TX 16,50016.5k $670.7k $670.7k 0.00% Unchanged
66 PURE PORTFOLIOS HOLDINGS LLC 0.23% of their portfolio LAKE OSWEGO, OR 15,27215.3k $620.8k $620.8k 0.23% Added +3.5k +3,502
67 CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC 0.13% of their portfolio BETHLEHEM, PA 15,03115.0k $611.0k $611.0k 0.13% Unchanged
68 Ausdal Financial Partners, Inc. 0.05% of their portfolio Davenport, IA 14,84514.8k $603.5k $603.5k 0.05% Reduced -13.0k -12,953
69 Mezzasalma Advisors, LLC 0.21% of their portfolio TINTON FALLS, NJ 14,74114.7k $599.2k $599.2k 0.21% Added +5.6k +5,641
70 IHT Wealth Management, LLC 0.02% of their portfolio Chicago, IL 14,39114.4k $585.0k $585.0k 0.02% Added +1.4k +1,443
71 Proficio Capital Partners LLC 0.04% of their portfolio NEWTON, MA 14,08014.1k $572.4k $572.4k 0.04% New
72 Autumn Glory Partners, LLC 0.27% of their portfolio DALLAS, TX 13,62313.6k $553.8k $553.8k 0.27% Added +5.1k +5,110
73 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 13,53613.5k $550.2k $550.2k 0.01% Added +7.9k +7,907
74 Compound Planning, Inc. 0.02% of their portfolio NEW YORK, NY 13,31813.3k $541.4k $541.4k 0.02% New
75 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 12,22612.2k $497.0k $497.0k 0.00% Reduced -21.3k -21,345
76 Perigon Wealth Management, LLC 0.01% of their portfolio SAN FRANCISCO, CA 12,00012.0k $487.8k $487.8k 0.01% Unchanged
77 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 11,67611.7k $474.6k $474.6k 0.01% Reduced -73 -73
78 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 10,98111.0k $446.4k $446.4k 0.00% Reduced -1.2k -1,242
79 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 10,37910.4k $422.0k $422.0k 0.00% Added +2.3k +2,328
80 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 10,33310.3k $420.0k $420.0k 0.00% Added +3.1k +3,054
81 GARRISON POINT ADVISORS, LLC 0.20% of their portfolio Walnut Creek, CA 10,20910.2k $415.0k $415.0k 0.20% Unchanged
82 Meridian Wealth Advisors, LLC 0.07% of their portfolio AUSTIN, TX 9,96810.0k $405.2k $405.2k 0.07% Unchanged
83 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 9,9009.9k $402.4k $402.4k 0.00% Added +1.9k +1,877
84 MOODY LYNN LIEBERSON & WALKER, LLC 0.03% of their portfolio BOSTON, MA 9,8419.8k $400.0k $400.0k 0.03% Unchanged
85 Trademark Financial Management, LLC 0.30% of their portfolio Bloomington, MN 9,5989.6k $390.2k $390.2k 0.30% New
86 Evanson Asset Management, LLC 0.03% of their portfolio CARMEL, CA 9,4929.5k $385.9k $385.9k 0.03% Added +37 +37
87 Sigma Planning Corp 0.01% of their portfolio ANN ARBOR, MI 9,3799.4k $381.3k $381.3k 0.01% Added +498 +498
88 Atria Investments, Inc 0.00% of their portfolio Charlotte, NC 9,3169.3k $378.7k $378.7k 0.00% New
89 B. Riley Wealth Advisors, Inc. 0.01% of their portfolio MEMPHIS, TN 8,8488.8k $359.7k $359.7k 0.01% Reduced -98 -98
90 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 8,8128.8k $358.2k $358.2k 0.00% Added +31 +31
91 Carlton Hofferkamp & Jenks Wealth Management, LLC 0.15% of their portfolio THE WOODLANDS, TX 8,8008.8k $352.2k $352.2k 0.15% Reduced -600 -600
92 Copia Wealth Management 0.30% of their portfolio BEND, OR 8,0288.0k $326.3k $326.3k 0.30% Added +3.4k +3,405
93 MACROVIEW INVESTMENT MANAGEMENT LLC 0.30% of their portfolio BETHESDA, MD 7,8687.9k $319.8k $319.8k 0.30% Reduced -374 -374
94 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 7,7887.8k $317.0k $317.0k 0.00% New
95 Principia Wealth Advisory, LLC 0.29% of their portfolio DALLAS, TX 7,7697.8k $299.0k $299.0k 0.29% Added +1.2k +1,184
96 GTS SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 7,1757.2k $291.7k $291.7k 0.01% New
97 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 6,9997.0k $284.5k $284.5k 0.00% Reduced -172.0k -172,003
98 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 6,6046.6k $268.5k $268.5k 0.00% Reduced -31 -31
99 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 6,1446.1k $249.8k $249.8k 0.00% Added +196 +196
100 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 6,1046.1k $248.1k $248.1k 0.00% Reduced -5.1k -5,131