Vault-13

LITMAN GREGORY FDS TR DBMF

IMGP DBI MANAGED · ETP · CUSIP 53700T827

191 institutional holders +0 vs Q4 2024
34,728,58634.7m shares reported held*
$877.5mreported value*
32 new 80 added 68 reduced 29 sold out net sold ≈ $41.5m (-1.6m 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 ($313.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $25.27. Options: 1 managers hold calls ($583.5k notional), 2 hold puts ($280.4k).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 101Q4 22: 153Q1 23: 138Q2 23: 137Q3 23: 136Q4 23: 131Q1 24: 140Q2 24: 156Q3 24: 158Q4 24: 191Q1 25: 191191Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022101
Q4 2022153
Q1 2023138
Q2 2023137
Q3 2023136
Q4 2023131
Q1 2024140
Q2 2024156
Q3 2024158
Q4 2024191
Q1 2025191

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 23: 67 bought or addedQ2 23: 77 cut or sold outQ3 23: 73 bought or addedQ3 23: 63 cut or sold outQ3 23Q4 23: 65 bought or addedQ4 23: 79 cut or sold outQ1 24: 88 bought or addedQ1 24: 62 cut or sold outQ1 24Q2 24: 101 bought or addedQ2 24: 54 cut or sold outQ3 24: 93 bought or addedQ3 24: 70 cut or sold outQ3 24Q4 24: 112 bought or addedQ4 24: 67 cut or sold outQ1 25: 112 bought or addedQ1 25: 97 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20236777
Q3 20237363
Q4 20236579
Q1 20248862
Q2 202410154
Q3 20249370
Q4 202411267
Q1 202511297

Calls vs puts

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

CallsPuts
$0$200k$400k$600kQ2 24 calls: $57.1kQ2 24 puts: $192.4kQ2 24P/C 3.37Q3 24 calls: $0Q3 24 puts: $14.0kQ3 24P/C —Q4 24 calls: $107.3kQ4 24 puts: $20.9kQ4 24P/C 0.20Q1 25 calls: $583.5kQ1 25 puts: $280.4kQ1 25P/C 0.48
Numbers
QuarterCallsPutsP/C
Q2 2024$57.1k$192.4k3.37
Q3 2024$0$14.0k—
Q4 2024$107.3k$20.9k0.20
Q1 2025$583.5k$280.4k0.48

Biggest buyers

LPL Financial LLC Added +4,615,371+4.6m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +638,360+638.4k
RAYMOND JAMES FINANCIAL INC Added +518,346+518.3k
MORGAN STANLEY Added +357,220+357.2k
IAG Wealth Partners, LLC New +345,912+345.9k
CWM, LLC Added +312,802+312.8k
Advisor Resource Council New +273,855+273.9k
Goldstein Advisors, LLC Added +233,042+233.0k
Capitolis Liquid Global Markets LLC New +182,100+182.1k
Upper Left Wealth Management, LLC New +151,882+151.9k

Biggest sellers

JPMORGAN CHASE & CO Reduced -5,429,824-5.4m
ROYAL BANK OF CANADA Reduced -1,271,462-1.3m
Parcion Private Wealth LLC Sold out -1,216,261-1.2m
ENVESTNET ASSET MANAGEMENT INC Reduced -722,818-722.8k
Litman Gregory Wealth Management LLC Reduced -304,719-304.7k
WELLS FARGO & COMPANY/MN Reduced -288,828-288.8k
FWG Holdings, LLC Sold out -243,050-243.1k
FMA Wealth Management, LLC Sold out -229,079-229.1k
Frontier Asset Management, LLC Reduced -176,539-176.5k
Sound Financial Strategies Group, LLC Sold out -150,670-150.7k

Biggest calls

CITADEL ADVISORS LLC Added $583.5k23.1k shares

Biggest puts

CITADEL ADVISORS LLC Added $280.4k11.1k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. New $00 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 LPL Financial LLC 0.05% of their portfolio FORT MILL, SC 4,907,4164.9m $124.0m $124.0m 0.05% Added +4.6m +4,615,371
2 CWM, LLC 0.28% of their portfolio OMAHA, NE 2,779,3722.8m $70.2m $70.2m 0.28% Added +312.8k +312,802
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,360,1912.4m $59.6m $59.6m 0.00% Added +357.2k +357,220
4 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 1,973,6662.0m $49.9m $49.9m 0.04% Added +638.4k +638,360
5 Naviter Wealth, LLC 5.72% of their portfolio LITTLE ROCK, AR 1,851,7641.9m $47.2m $47.2m 5.72% Reduced -5.5k -5,478
6 Goldstein Advisors, LLC 4.45% of their portfolio Madison, WI 1,203,9991.2m $30.4m $30.4m 4.45% Added +233.0k +233,042
7 Litman Gregory Wealth Management LLC 2.56% of their portfolio LARKSPUR, CA 1,180,2131.2m $29.8m $29.8m 2.56% Reduced -304.7k -304,719
8 Cardinal Point Capital Management ULC 2.53% of their portfolio TORONTO, A6 1,087,8451.1m $27.5m $27.5m 2.53% Added +24.6k +24,589
9 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 829,680829.7k $21.0m $21.0m 0.01% Added +518.3k +518,346
10 OneDigital Investment Advisors LLC 0.21% of their portfolio OVERLAND PARK, KS 696,741696.7k $17.6m $17.6m 0.21% Reduced -30.3k -30,289
11 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 670,739670.7k $16.9m $16.9m 0.02% Added +103.0k +103,036
12 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 592,474592.5k $15.0m $15.0m 0.00% Reduced -722.8k -722,818
13 SUMMIT WEALTH & RETIREMENT PLANNING, INC. 4.36% of their portfolio EAGLE, ID 563,590563.6k $14.2m $14.2m 4.36% Added +11.5k +11,466
14 Valmark Advisers, Inc. 0.19% of their portfolio AKRON, OH 494,835494.8k $12.5m $12.5m 0.19% Reduced -11.4k -11,433
15 ALM First Financial Advisors, LLC 2.73% of their portfolio DALLAS, TX 472,305472.3k $11.9m $11.9m 2.73% Added +40.2k +40,177
16 Savant Capital, LLC 0.10% of their portfolio ROCKFORD, IL 457,502457.5k $11.6m $11.6m 0.10% Added +14.7k +14,715
17 Austin Wealth Management, LLC 2.29% of their portfolio Austin, TX 451,674451.7k $11.4m $11.4m 2.29% Added +74.3k +74,330
18 Private Advisor Group, LLC 0.07% of their portfolio MORRISTOWN, NJ 429,412429.4k $10.8m $10.8m 0.07% Added +107.6k +107,626
19 SAGE PRIVATE WEALTH GROUP, LLC 8.02% of their portfolio OAKBROOK TERRACE, IL 419,089419.1k $10.6m $10.6m 8.02% Added +1.9k +1,920
20 Evelyn Partners Asset Management Ltd 2.86% of their portfolio London, X0 406,971407.0k $10.3m $10.3m 2.86% Added +14.4k +14,368
21 New York Life Investment Management LLC 0.10% of their portfolio New York, NY 398,859398.9k $10.1m $10.1m 0.10% Added +129.9k +129,906
22 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 391,388391.4k $9.9m $9.9m 0.00% Reduced -288.8k -288,828
23 Family Investment Center, Inc. 2.18% of their portfolio Saint Joseph, MO 353,893353.9k $8.9m $8.9m 2.18% Reduced -109.3k -109,344
24 IAG Wealth Partners, LLC 1.36% of their portfolio WAUKESHA, WI 345,912345.9k $8.7m $8.7m 1.36% New
25 RAINEY & RANDALL WEALTH ADVISORS INC. 1.59% of their portfolio Celebration, FL 322,537322.5k $8.1m $8.1m 1.59% Added +2.2k +2,228
26 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 317,068317.1k $8.0m $8.0m 0.01% Added +4.1k +4,082
27 Fortitude Family Office, LLC 2.81% of their portfolio SCOTTSDALE, AZ 310,885310.9k $7.9m $7.9m 2.81% Added +75.9k +75,926
28 Advisor Resource Council 0.54% of their portfolio DALLAS, TX 273,855273.9k $6.7m $6.7m 0.54% New
29 AXXCESS WEALTH MANAGEMENT, LLC 0.18% of their portfolio CARLSBAD, CA 254,561254.6k $6.4m $6.4m 0.18% Added +7.9k +7,933
30 Leelyn Smith, LLC 1.14% of their portfolio GENEVA, IL 253,261253.3k $6.4m $6.4m 1.14% Added +27.1k +27,090
31 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 239,316239.3k $6.0m $6.0m 0.00% Reduced -5.4m -5,429,824
32 A&I FINANCIAL SERVICES, LLC 3.71% of their portfolio LONE TREE, CO 216,745216.7k $5.5m $5.5m 3.71% Added +49.8k +49,800
33 Principia Wealth Advisory, LLC 5.16% of their portfolio DALLAS, TX 213,149213.1k $5.4m $5.4m 5.16% Added +23.3k +23,274
34 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 210,679210.7k $5.3m $5.3m 0.02% Reduced -30.1k -30,076
35 Empire Financial Management Company, LLC 1.61% of their portfolio NEW YORK, NY 205,657205.7k $5.2m $5.2m 1.61% Reduced -324 -324
36 CSS LLC/IL 0.36% of their portfolio CHICAGO, IL 201,685201.7k $5.1m $5.1m 0.36% Added +22.9k +22,901
37 Astor Investment Management LLC 2.48% of their portfolio CHICAGO, IL 184,739184.7k $4.7m $4.7m 2.48% Reduced -127.2k -127,182
38 Capitolis Liquid Global Markets LLC 0.04% of their portfolio NEW YORK, NY 182,100182.1k $4.6m $4.6m 0.04% New
39 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 175,950175.9k $4.4m $4.4m 0.01% Added +9.7k +9,671
40 Farther Finance Advisors, LLC 0.11% of their portfolio SAN FRANCISCO, CA 172,893172.9k $4.4m $4.4m 0.11% Added +131.9k +131,894
41 Equitable Holdings, Inc. 0.04% of their portfolio NEW YORK, NY 167,409167.4k $4.2m $4.2m 0.04% Added +24.0k +23,976
42 Professional Financial Advisors, LLC 1.06% of their portfolio NORTH PLATTE, NE 165,658165.7k $4.2m $4.2m 1.06% Added +9.7k +9,722
43 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 158,607158.6k $4.0m $4.0m 0.01% Added +1.4k +1,395
44 Upper Left Wealth Management, LLC 2.75% of their portfolio TAMPA, FL 151,882151.9k $3.8m $3.8m 2.75% New
45 Longview Financial Advisors, Inc. 3.20% of their portfolio HUNTSVILLE, AL 147,758147.8k $3.7m $3.7m 3.20% Added +19.0k +19,000
46 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 146,742146.7k $3.7m $3.7m 0.01% Added +4.0k +4,031
47 Avestar Capital, LLC 0.35% of their portfolio New York, NY 144,437144.4k $3.6m $3.6m 0.35% Reduced -26.6k -26,628
48 Tidal Investments LLC 0.03% of their portfolio Milwaukee, WI 140,858140.9k $3.6m $3.6m 0.03% New
49 Frontier Asset Management, LLC 0.94% of their portfolio SHERIDAN, WY 128,816128.8k $3.3m $3.3m 0.94% Reduced -176.5k -176,539
50 CoreCap Advisors, LLC 0.14% of their portfolio SOUTHFIELD, MI 125,313125.3k $3.2m $3.2m 0.14% Added +42.1k +42,140
51 Evelyn Partners Investment Management Services Ltd 0.51% of their portfolio London, X0 124,142124.1k $3.1m $3.1m 0.51% Added +205 +205
52 Scarborough Advisors, LLC 0.44% of their portfolio ANNAPOLIS, MD 120,916120.9k $3.1m $3.1m 0.44% Reduced -516 -516
53 Atria Investments, Inc 0.04% of their portfolio Charlotte, NC 120,137120.1k $3.0m $3.0m 0.04% Reduced -60.7k -60,705
54 STANSBERRY ASSET MANAGEMENT, LLC 0.36% of their portfolio Westlake, TX 119,334119.3k $3.0m $3.0m 0.36% Reduced -6.3k -6,320
55 GTS SECURITIES LLC 0.13% of their portfolio NEW YORK, NY 116,267116.3k $2.9m $2.9m 0.13% New
56 Live Oak Investment Partners 2.31% of their portfolio AUSTIN, TX 115,766115.8k $2.9m $2.9m 2.31% New
57 Fermata Advisors, LLC 0.52% of their portfolio SONOMA, CA 112,972113.0k $2.9m $2.9m 0.52% Added +6.7k +6,652
58 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 110,792110.8k $2.8m $2.8m 0.02% Reduced -25.0k -25,008
59 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 100,390100.4k $2.5m $2.5m 0.01% Added +9.5k +9,457
60 MKD WEALTH COACHES, LLC 2.64% of their portfolio TROY, MI 92,42792.4k $2.3m $2.3m 2.64% Added +3.1k +3,080
61 Fairman Group, LLC 1.95% of their portfolio CHESTERBROOK, PA 86,25586.3k $2.1m $2.1m 1.95% Reduced -25.4k -25,354
62 ENTREWEALTH, LLC 1.62% of their portfolio AUSTIN, TX 83,63983.6k $2.1m $2.1m 1.62% Added +25.7k +25,686
63 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 82,76582.8k $2.1m $2.1m 0.00% Added +37.3k +37,290
64 TriaGen Wealth Management LLC 0.70% of their portfolio Calabasas, CA 79,10379.1k $2.0m $2.0m 0.70% Added +18.3k +18,307
65 Hilltop Holdings Inc. 0.12% of their portfolio DALLAS, TX 76,00776.0k $1.9m $1.9m 0.12% Reduced -541 -541
66 E&G Advisors, LLC 0.54% of their portfolio HOUSTON, TX 75,38275.4k $1.9m $1.9m 0.54% Reduced -1.5k -1,470
67 Dynamic Advisor Solutions LLC 0.06% of their portfolio PHOENIX, AZ 69,88769.9k $1.8m $1.8m 0.06% Reduced -4.1k -4,120
68 Midwest Financial Group LLC 1.01% of their portfolio Overland Park, KS 68,63968.6k $1.7m $1.7m 1.01% Added +947 +947
69 Optivise Advisory Services LLC 0.96% of their portfolio FRANKLIN, TN 67,80267.8k $1.7m $1.7m 0.96% Reduced -7.3k -7,333
70 Twelve Points Wealth Management LLC 0.46% of their portfolio CONCORD, MA 66,79766.8k $1.7m $1.7m 0.46% Reduced -9.8k -9,838
71 HOWARD BAILEY SECURITIES, LLC 0.54% of their portfolio FORT WAYNE, IN 64,43064.4k $1.6m $1.6m 0.54% Added +5.2k +5,175
72 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 63,85163.9k $1.6m $1.6m 0.01% Reduced -136.6k -136,565
73 Mariner, LLC 0.00% of their portfolio Overland Park, KS 58,87658.9k $1.5m $1.5m 0.00% Added +51.2k +51,152
74 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 56,11756.1k $1.4m $1.4m 0.01% Added +30.5k +30,523
75 RHS Financial, LLC 0.75% of their portfolio SAN FRANCISCO, CA 53,15553.2k $1.3m $1.3m 0.75% Added +4.1k +4,134
76 Ancora Advisors LLC 0.03% of their portfolio Cleveland, OH 51,49151.5k $1.3m $1.3m 0.03% Reduced -1.7k -1,741
77 Visionary Wealth Advisors 0.08% of their portfolio O'FALLON, IL 50,81750.8k $1.3m $1.3m 0.08% Added +1.3k +1,330
78 IFG Advisory, LLC 0.07% of their portfolio ATLANTA, GA 50,39450.4k $1.3m $1.3m 0.07% New
79 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 48,43648.4k $1.2m $1.2m 0.00% Reduced -1.3m -1,271,462
80 Quadrature Capital Ltd 0.03% of their portfolio LONDON, X0 47,97348.0k $1.2m $1.2m 0.03% New
81 MAI Capital Management 0.01% of their portfolio INDEPENDENCE, OH 47,21747.2k $1.2m $1.2m 0.01% Added +510 +510
82 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 45,27245.3k $1.1m $1.1m 0.00% Added +96 +96
83 Legacy Capital Group California, Inc. 0.39% of their portfolio LOS GATOS, CA 44,70344.7k $1.1m $1.1m 0.39% Reduced -28.7k -28,690
84 Sterneck Capital Management, LLC 0.59% of their portfolio KANSAS CITY, MO 43,31943.3k $1.1m $1.1m 0.59% Added +2.0k +1,962
85 THOR INVESTMENT MANAGEMENT INC /OH/ /ADV 0.80% of their portfolio CINCINNATI, OH 42,96243.0k $1.1m $1.1m 0.80% Added +112 +112
86 Matrix Trust Co 0.18% of their portfolio DENVER, CO 41,62841.6k $1.1m $1.1m 0.18% Added +12.1k +12,101
87 Canal Capital Management, LLC 0.17% of their portfolio Richmond, VA 39,91639.9k $1.0m $1.0m 0.17% Reduced -49.0k -48,974
88 Orion Portfolio Solutions, LLC 0.00% of their portfolio Omaha, NE 39,22639.2k $1.0m $1.0m 0.00% Added +18.8k +18,786
89 Savvy Advisors, Inc. 0.10% of their portfolio NEW YORK, NY 38,61738.6k $975.5k $975.5k 0.10% Added +5.0k +4,955
90 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 38,60038.6k $975.0k $975.0k 0.00% Reduced -18.4k -18,400
91 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 36,44436.4k $920.2k $920.2k 0.00% Added +2.3k +2,328
92 City Center Advisors, LLC 1.07% of their portfolio TROY, MI 36,18436.2k $914.0k $914.0k 1.07% Added +2.7k +2,748
93 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 34,22134.2k $864.4k $864.4k 0.00% New
94 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 31,98632.0k $808.0k $808.0k 0.00% Added +20.9k +20,913
95 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 30,80830.8k $778.2k $778.2k 0.00% Reduced -954 -954
96 Innova Wealth Partners 0.48% of their portfolio NEWTOWN, PA 30,38630.4k $767.5k $767.5k 0.48% Reduced -89.1k -89,075
97 AmeriServ Wealth Advisors 0.44% of their portfolio Johnstown, PA 30,06630.1k $759.5k $759.5k 0.44% New
98 Trajan Wealth LLC 0.04% of their portfolio SCOTTSDALE, AZ 29,91729.9k $755.7k $755.7k 0.04% Reduced -5.4k -5,391
99 Virtue Capital Management, LLC 0.09% of their portfolio BRENTWOOD, TN 29,70329.7k $751.2k $751.2k 0.09% New
100 Elyxium Wealth, LLC 0.32% of their portfolio BEVERLY HILLS, CA 28,54328.5k $721.0k $721.0k 0.32% New