Vault-13

LISTED FD TR INFL

HORIZON KINETICS · ETP · CUSIP 53656F623

152 institutional holders +10 vs Q1 2025
19,890,17819.9m shares reported held*
$839.0mreported value*
22 new 66 added 40 reduced 13 sold out net bought ≈ $115.5m (+2.6m 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 ≈ $42.18. Options: 1 managers hold calls ($619.9k notional), 0 hold puts (—).

Trends to Q2 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: 142Q2 25: 152152Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 2025152

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 48 bought or addedQ3 23: 84 cut or sold outQ4 23: 37 bought or addedQ4 23: 98 cut or sold outQ4 23Q1 24: 35 bought or addedQ1 24: 85 cut or sold outQ2 24: 57 bought or addedQ2 24: 46 cut or sold outQ2 24Q3 24: 49 bought or addedQ3 24: 51 cut or sold outQ4 24: 75 bought or addedQ4 24: 37 cut or sold outQ4 24Q1 25: 85 bought or addedQ1 25: 42 cut or sold outQ2 25: 88 bought or addedQ2 25: 53 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234884
Q4 20233798
Q1 20243585
Q2 20245746
Q3 20244951
Q4 20247537
Q1 20258542
Q2 20258853

Calls vs puts

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

CallsPuts
$0$200k$400k$600k$800kQ3 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 0.15Q2 25 calls: $619.9kQ2 25 puts: $0Q2 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2024$67.7k$71.4k1.06
Q4 2024$262.8k$41.9k0.16
Q1 2025$296.7k$44.7k0.15
Q2 2025$619.9k$00.00

Biggest buyers

ROYAL BANK OF CANADA Added +729,257+729.3k
JPMORGAN CHASE & CO Added +628,255+628.3k
Rockefeller Capital Management L.P. Added +377,151+377.2k
WELLS FARGO & COMPANY/MN Added +185,736+185.7k
Aptus Capital Advisors, LLC Added +99,877+99.9k
Waterloo Capital, L.P. New +95,399+95.4k
Corient Private Wealth LP New +84,637+84.6k
Hilltop Holdings Inc. New +69,407+69.4k
Proficio Capital Partners LLC Added +52,235+52.2k
LPL Financial LLC Added +51,398+51.4k

Biggest sellers

Kestra Investment Management, LLC Reduced -129,049-129.0k
UBS Group AG Reduced -57,697-57.7k
Cullen/Frost Bankers, Inc. Reduced -49,400-49.4k
ONE PLUS ONE WEALTH MANAGEMENT, LLC Sold out -21,628-21.6k
Moors & Cabot, Inc. Reduced -13,290-13.3k
Bank of New York Mellon Corp Reduced -11,413-11.4k
MOODY LYNN LIEBERSON & WALKER, LLC Sold out -9,841-9.8k
Cresset Asset Management, LLC Reduced -7,750-7.8k
Cambridge Investment Research Advisors, Inc. Reduced -6,324-6.3k
STAR Financial Bank Sold out -5,876-5.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $619.9k14.7k shares

Biggest puts

None

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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 4,775,4054.8m $201.4m $201.4m 0.01% Added +628.3k +628,255
2 OXFORD FINANCIAL GROUP, LTD. LLC 10.03% of their portfolio INDIANAPOLIS, IN 4,002,5924.0m $168.8m $168.8m 10.03% Added +7.0k +7,015
3 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,279,7921.3m $54.0m $54.0m 0.01% Added +729.3k +729,257
4 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,188,6791.2m $50.1m $50.1m 0.02% Added +51.4k +51,398
5 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 677,736677.7k $28.6m $28.6m 0.03% Added +377.2k +377,151
6 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 660,707660.7k $27.9m $27.9m 0.01% Added +185.7k +185,736
7 One Charles Private Wealth Services, LLC 5.89% of their portfolio HINGHAM, MA 496,766496.8k $20.9m $20.9m 5.89% Added +9.1k +9,107
8 Kestra Investment Management, LLC 0.27% of their portfolio AUSTIN, TX 428,355428.4k $17.6m $17.6m 0.27% Reduced -129.0k -129,049
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 336,085336.1k $14.2m $14.2m 0.00% Reduced -57.7k -57,697
10 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 307,225307.2k $13.0m $13.0m 0.00% Reduced -11.4k -11,413
11 Janney Montgomery Scott LLC 0.03% of their portfolio PHILADELPHIA, PA 279,661279.7k $11.8m $11.8m 0.03% Added +26.6k +26,550
12 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 274,555274.6k $11.6m $11.6m 0.02% Added +2.6k +2,586
13 CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio RALEIGH, NC 261,245261.2k $11.0m $11.0m 0.02% Reduced -963 -963
14 Lowe Wealth Advisors, LLC 4.04% of their portfolio COLUMBIA, MD 245,118245.1k $10.3m $10.3m 4.04% Added +9.8k +9,788
15 Aptus Capital Advisors, LLC 0.08% of their portfolio FAIRHOPE, AL 199,321199.3k $8.4m $8.4m 0.08% Added +99.9k +99,877
16 Hilltop National Bank 2.07% of their portfolio CASPER, WY 188,413188.4k $7.9m $7.9m 2.07% First filing
17 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 173,656173.7k $7.3m $7.3m 0.00% Added +4.6k +4,560
18 Longview Financial Advisors, Inc. 5.94% of their portfolio HUNTSVILLE, AL 165,818165.8k $7.0m $7.0m 5.94% Reduced -2.9k -2,931
19 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 156,922156.9k $6.6m $6.6m 0.00% Added +16.6k +16,598
20 Philip James Wealth Mangement, LLC 0.81% of their portfolio MILTON, GA 150,777150.8k $6.4m $6.4m 0.81% Added +1.8k +1,846
21 Independent Family Office, LLC 2.67% of their portfolio ALBANY, NY 134,886134.9k $5.8m $5.8m 2.67% Added +29.5k +29,530
22 Cullen/Frost Bankers, Inc. 0.06% of their portfolio San Antonio, TX 122,600122.6k $5.2m $5.2m 0.06% Reduced -49.4k -49,400
23 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 122,583122.6k $5.2m $5.2m 0.01% Reduced -2.0k -2,042
24 Atlas Wealth Partners, LLC 5.93% of their portfolio WYOMISSING, PA 121,905121.9k $5.1m $5.1m 5.93% Added +1.6k +1,624
25 Moors & Cabot, Inc. 0.24% of their portfolio BOSTON, MA 120,943120.9k $5.1m $5.1m 0.24% Reduced -13.3k -13,290
26 SCS Capital Management LLC 0.05% of their portfolio BOSTON, MA 113,925113.9k $4.8m $4.8m 0.05% Reduced -729 -729
27 IFP Advisors, Inc 0.13% of their portfolio TAMPA, FL 110,448110.4k $4.7m $4.7m 0.13% Reduced -5.8k -5,800
28 NCM Capital Management, LLC 1.86% of their portfolio RAMSEY, NJ 107,349107.3k $4.5m $4.5m 1.86% Added +14.4k +14,386
29 HORIZON KINETICS ASSET MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 102,956103.0k $4.3m $4.3m 0.05% Added +4.6k +4,610
30 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 96,75696.8k $4.1m $4.1m 0.01% Reduced -4.2k -4,214
31 GUARDIAN WEALTH ADVISORS, LLC / NC 0.29% of their portfolio RALEIGH, NC 96,00496.0k $4.0m $4.0m 0.29% Added +6.1k +6,086
32 Waterloo Capital, L.P. 0.32% of their portfolio AUSTIN, TX 95,39995.4k $4.0m $4.0m 0.32% New
33 EagleClaw Capital Managment, LLC 0.55% of their portfolio BOSTON, MA 87,55587.6k $3.7m $3.7m 0.55% Added +983 +983
34 NewEdge Wealth, LLC 0.06% of their portfolio STAMFORD, CT 85,55885.6k $3.6m $3.6m 0.06% Added +11 +11
35 INTREPID FAMILY OFFICE LLC 3.87% of their portfolio SARASOTA, FL 85,00085.0k $3.6m $3.6m 3.87% Unchanged
36 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 84,63784.6k $3.6m $3.6m 0.00% New
37 OneDigital Investment Advisors LLC 0.03% of their portfolio OVERLAND PARK, KS 73,14273.1k $3.1m $3.1m 0.03% Added +183 +183
38 Hilltop Holdings Inc. 0.19% of their portfolio DALLAS, TX 69,40769.4k $2.9m $2.9m 0.19% New
39 Proficio Capital Partners LLC 0.17% of their portfolio NEWTON, MA 66,31566.3k $2.8m $2.8m 0.17% Added +52.2k +52,235
40 Pekin Hardy Strauss, Inc. 0.28% of their portfolio CHICAGO, IL 57,78857.8k $2.4m $2.4m 0.28% Reduced -45 -45
41 DAVENPORT & Co LLC 0.01% of their portfolio RICHMOND, VA 51,51451.5k $2.2m $2.2m 0.01% Added +941 +941
42 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 51,41351.4k $2.2m $2.2m 0.01% Added +34.8k +34,784
43 Stratos Wealth Advisors, LLC 0.11% of their portfolio BEACHWOOD, OH 50,19950.2k $2.1m $2.1m 0.11% Added +4.3k +4,286
44 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 49,91849.9k $2.1m $2.1m 0.02% Reduced -24 -24
45 Advisory Services Network, LLC 0.03% of their portfolio ATLANTA, GA 49,54149.5k $2.0m $2.0m 0.03% Added +36.0k +36,005
46 PECAUT & CO. 0.67% of their portfolio SIOUX CITY, IA 48,15048.1k $2.0m $2.0m 0.67% Unchanged
47 Abacus Planning Group, Inc. 0.30% of their portfolio COLUMBIA, SC 47,34547.3k $2.0m $2.0m 0.30% Added +8.5k +8,469
48 Spire Wealth Management 0.07% of their portfolio MCLEAN, VA 44,98545.0k $1.9m $1.9m 0.07% Reduced -749 -749
49 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 42,85242.9k $1.8m $1.8m 0.00% Added +1.6k +1,638
50 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 42,05442.1k $1.8m $1.8m 0.00% Added +7.1k +7,060
51 Lionsbridge Wealth Management LLC 1.75% of their portfolio JACKSONVILLE BEACH, FL 41,70641.7k $1.8m $1.8m 1.75% Reduced -764 -764
52 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 41,59141.6k $1.8m $1.8m 0.00% Added +14.7k +14,710
53 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 40,28840.3k $1.7m $1.7m 0.00% Added +16.7k +16,707
54 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 39,70439.7k $1.7m $1.7m 0.00% Added +29.3k +29,325
55 Wealthspire Advisors, LLC 0.01% of their portfolio NEW YORK, NY 39,26739.3k $1.7m $1.7m 0.01% Added +1.3k +1,293
56 Compass Ion Advisors, LLC 0.18% of their portfolio CONSHOHOCKEN, PA 38,76638.8k $1.6m $1.6m 0.18% Reduced -447 -447
57 FIRST FOUNDATION ADVISORS 0.06% of their portfolio Irvine, CA 37,76237.8k $1.6m $1.6m 0.06% New
58 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 36,29436.3k $1.5m $1.5m 0.02% Added +271 +271
59 Coastal Bridge Advisors, LLC 0.13% of their portfolio WESTPORT, CT 35,85535.9k $1.5m $1.5m 0.13% New
60 LEAVELL INVESTMENT MANAGEMENT, INC. 0.06% of their portfolio MOBILE, AL 34,10134.1k $1.4m $1.4m 0.06% New
61 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 33,53133.5k $1.4m $1.4m 0.01% Added +23.6k +23,631
62 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 32,41332.4k $1.4m $1.4m 0.00% Added +26.3k +26,269
63 GTS SECURITIES LLC 0.05% of their portfolio NEW YORK, NY 26,71726.7k $1.1m $1.1m 0.05% Added +19.5k +19,542
64 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 25,76025.8k $1.1m $1.1m 0.00% Unchanged
65 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 25,26425.3k $1.1m $1.1m 0.00% Added +18.3k +18,265
66 GUIDANCE CAPITAL, INC 0.27% of their portfolio LOUSVILLE, KY 22,66722.7k $932.2k $932.2k 0.27% Added +1.9k +1,942
67 Trilogy Capital Inc. 0.05% of their portfolio IRVINE, CA 22,61522.6k $953.7k $953.7k 0.05% Reduced -1.8k -1,750
68 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 22,10722.1k $932.3k $932.3k 0.00% Reduced -7.8k -7,750
69 Baker Ellis Asset Management LLC 0.12% of their portfolio Vancouver, WA 21,57021.6k $909.6k $909.6k 0.12% Reduced -1.8k -1,848
70 PHILLIPS FINANCIAL MANAGEMENT, LLC 0.06% of their portfolio FORT WAYNE, IN 20,81620.8k $870.5k $870.5k 0.06% New
71 CW Advisors, LLC 0.01% of their portfolio BOSTON, MA 20,55820.6k $867.0k $867.0k 0.01% Added +126 +126
72 Stegent Equity Advisors, Inc. 0.76% of their portfolio HOUSTON, TX 20,37320.4k $859.1k $859.1k 0.76% Reduced -175 -175
73 Compound Planning, Inc. 0.03% of their portfolio NEW YORK, NY 20,13120.1k $848.9k $848.9k 0.03% Added +6.8k +6,813
74 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 19,65819.7k $829.0k $829.0k 0.00% Reduced -6.3k -6,324
75 SCHWARTZ INVESTMENT COUNSEL INC 0.03% of their portfolio PLYMOUTH, MI 19,00019.0k $801.2k $801.2k 0.03% Unchanged
76 Beacon Pointe Advisors, LLC 0.01% of their portfolio NEWPORT BEACH, CA 17,46117.5k $736.3k $736.3k 0.01% New
77 Straight Path Wealth Management 0.25% of their portfolio Jenison, MI 17,35517.4k $731.9k $731.9k 0.25% Added +600 +600
78 JNBA Financial Advisors 0.07% of their portfolio BLOOMINGTON, MN 16,94116.9k $714.4k $714.4k 0.07% Reduced -1.6k -1,640
79 KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio FORT WORTH, TX 16,50016.5k $695.8k $695.8k 0.00% Unchanged
80 PURE PORTFOLIOS HOLDINGS LLC 0.23% of their portfolio LAKE OSWEGO, OR 16,21716.2k $683.9k $683.9k 0.23% Added +945 +945
81 Ferguson Shapiro LLC 0.22% of their portfolio DECATUR, GA 15,18115.2k $640.2k $640.2k 0.22% Reduced -3.5k -3,546
82 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 15,09415.1k $636.5k $636.5k 0.01% Added +5.8k +5,778
83 CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC 0.12% of their portfolio BETHLEHEM, PA 15,03115.0k $633.9k $633.9k 0.12% Unchanged
84 Mezzasalma Advisors, LLC 0.19% of their portfolio TINTON FALLS, NJ 14,80514.8k $624.3k $624.3k 0.19% Added +64 +64
85 Meridian Wealth Advisors, LLC 0.10% of their portfolio AUSTIN, TX 14,77814.8k $623.2k $623.2k 0.10% Added +4.8k +4,810
86 IHT Wealth Management, LLC 0.02% of their portfolio Chicago, IL 14,55914.6k $613.9k $613.9k 0.02% Added +168 +168
87 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 14,41214.4k $607.7k $607.7k 0.01% New
88 Ausdal Financial Partners, Inc. 0.04% of their portfolio Davenport, IA 14,23414.2k $600.2k $600.2k 0.04% Reduced -611 -611
89 Autumn Glory Partners, LLC 0.27% of their portfolio DALLAS, TX 13,62313.6k $574.5k $574.5k 0.27% Unchanged
90 Auxano Advisors, LLC 0.13% of their portfolio BELLEVUE, WA 12,89712.9k $543.8k $543.8k 0.13% Reduced -4.4k -4,440
91 Copia Wealth Management 0.44% of their portfolio BEND, OR 12,46912.5k $525.8k $525.8k 0.44% Added +4.4k +4,441
92 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 12,00912.0k $506.4k $506.4k 0.00% Added +1.0k +1,028
93 Perigon Wealth Management, LLC 0.01% of their portfolio SAN FRANCISCO, CA 12,00012.0k $506.0k $506.0k 0.01% Unchanged
94 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 11,84911.8k $499.7k $499.7k 0.00% Reduced -377 -377
95 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 11,47411.5k $483.9k $483.9k 0.01% Reduced -202 -202
96 Mariner, LLC 0.00% of their portfolio Overland Park, KS 10,49810.5k $442.7k $442.7k 0.00% Added +4.9k +4,898
97 Trademark Financial Management, LLC 0.26% of their portfolio Bloomington, MN 9,98910.0k $421.2k $421.2k 0.26% Added +391 +391
98 GARRISON POINT ADVISORS, LLC 0.19% of their portfolio Walnut Creek, CA 9,9299.9k $418.7k $418.7k 0.19% Reduced -280 -280
99 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 9,9059.9k $417.7k $417.7k 0.00% Added +1.1k +1,093
100 Evanson Asset Management, LLC 0.02% of their portfolio CARMEL, CA 9,5339.5k $402.0k $402.0k 0.02% Added +41 +41