Vault-13

LITMAN GREGORY FDS TR DBMF

IMGP DBI MANAGED · ETP · CUSIP 53700T827

191 institutional holders +0 vs Q1 2025
31,561,11331.6m shares reported held*
$812.0mreported value*
22 new 85 added 65 reduced 25 sold out net sold ≈ $74.7m (-2.9m 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 ($7.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $25.73. Options: 1 managers hold calls ($468.3k notional), 1 hold puts ($0).

Trends to Q2 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: 191Q2 25: 191191Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 2025191

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 73 bought or addedQ3 23: 63 cut or sold outQ4 23: 65 bought or addedQ4 23: 79 cut or sold outQ4 23Q1 24: 88 bought or addedQ1 24: 62 cut or sold outQ2 24: 101 bought or addedQ2 24: 54 cut or sold outQ2 24Q3 24: 93 bought or addedQ3 24: 70 cut or sold outQ4 24: 112 bought or addedQ4 24: 67 cut or sold outQ4 24Q1 25: 112 bought or addedQ1 25: 97 cut or sold outQ2 25: 107 bought or addedQ2 25: 90 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20237363
Q4 20236579
Q1 20248862
Q2 202410154
Q3 20249370
Q4 202411267
Q1 202511297
Q2 202510790

Calls vs puts

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

CallsPuts
$0$200k$400k$600kQ3 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 0.48Q2 25 calls: $468.3kQ2 25 puts: $0Q2 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2024$0$14.0k—
Q4 2024$107.3k$20.9k0.20
Q1 2025$583.5k$280.4k0.48
Q2 2025$468.3k$00.00

Biggest buyers

RAYMOND JAMES FINANCIAL INC Added +455,884+455.9k
MORGAN STANLEY Added +320,632+320.6k
ROCKLAND TRUST CO New +293,140+293.1k
Cambria Investment Management, L.P. New +266,136+266.1k
LPL Financial LLC Added +249,572+249.6k
Savant Capital, LLC Added +243,295+243.3k
Deane Retirement Strategies, Inc. Added +216,952+217.0k
Tidal Investments LLC Added +198,219+198.2k
RENAISSANCE TECHNOLOGIES LLC Added +137,800+137.8k
ASHTON THOMAS SECURITIES, LLC New +133,968+134.0k

Biggest sellers

CWM, LLC Reduced -2,585,000-2.6m
Naviter Wealth, LLC Sold out -1,851,764-1.9m
Family Investment Center, Inc. Reduced -327,302-327.3k
TRUIST FINANCIAL CORP Sold out -317,068-317.1k
Advisor Resource Council Reduced -264,802-264.8k
RAINEY & RANDALL WEALTH ADVISORS INC. Reduced -258,838-258.8k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -171,924-171.9k
HighTower Advisors, LLC Sold out -146,742-146.7k
GTS SECURITIES LLC Sold out -116,267-116.3k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -77,481-77.5k

Biggest calls

CITADEL ADVISORS LLC Reduced $468.3k18.2k shares

Biggest puts

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 5,156,9885.2m $132.7m $132.7m 0.04% Added +249.6k +249,572
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,680,8232.7m $69.0m $69.0m 0.00% Added +320.6k +320,632
3 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 1,896,1851.9m $48.8m $48.8m 0.04% Reduced -77.5k -77,481
4 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,285,5641.3m $33.1m $33.1m 0.01% Added +455.9k +455,884
5 Goldstein Advisors, LLC 4.08% of their portfolio Madison, WI 1,180,0351.2m $30.4m $30.4m 4.08% Reduced -24.0k -23,964
6 Litman Gregory Wealth Management LLC 2.36% of their portfolio LARKSPUR, CA 1,166,8941.2m $30.0m $30.0m 2.36% Reduced -13.3k -13,319
7 Cardinal Point Capital Management ULC 2.21% of their portfolio TORONTO, A6 1,084,9951.1m $27.9m $27.9m 2.21% Reduced -2.9k -2,850
8 Savant Capital, LLC 0.13% of their portfolio ROCKFORD, IL 700,797700.8k $18.0m $18.0m 0.13% Added +243.3k +243,295
9 OneDigital Investment Advisors LLC 0.20% of their portfolio OVERLAND PARK, KS 689,223689.2k $17.7m $17.7m 0.20% Reduced -7.5k -7,518
10 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 633,318633.3k $16.3m $16.3m 0.00% Added +40.8k +40,844
11 SUMMIT WEALTH & RETIREMENT PLANNING, INC. 4.05% of their portfolio EAGLE, ID 585,899585.9k $15.1m $15.1m 4.05% Added +22.3k +22,309
12 Austin Wealth Management, LLC 2.55% of their portfolio Austin, TX 559,759559.8k $14.3m $14.3m 2.55% Added +108.1k +108,085
13 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 498,815498.8k $12.8m $12.8m 0.02% Reduced -171.9k -171,924
14 Valmark Advisers, Inc. 0.17% of their portfolio AKRON, OH 475,069475.1k $12.2m $12.2m 0.17% Reduced -19.8k -19,766
15 New York Life Investment Management LLC 0.11% of their portfolio New York, NY 474,820474.8k $12.2m $12.2m 0.11% Added +76.0k +75,961
16 ALM First Financial Advisors, LLC 2.63% of their portfolio DALLAS, TX 472,305472.3k $12.2m $12.2m 2.63% Unchanged
17 SAGE PRIVATE WEALTH GROUP, LLC 7.60% of their portfolio OAKBROOK TERRACE, IL 460,951461.0k $11.9m $11.9m 7.60% Added +41.9k +41,862
18 IAG Wealth Partners, LLC 1.41% of their portfolio WAUKESHA, WI 414,567414.6k $10.7m $10.7m 1.41% Added +68.7k +68,655
19 Private Advisor Group, LLC 0.06% of their portfolio MORRISTOWN, NJ 400,560400.6k $10.3m $10.3m 0.06% Reduced -28.9k -28,852
20 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 385,626385.6k $9.9m $9.9m 0.00% Reduced -5.8k -5,762
21 Evelyn Partners Asset Management Ltd 2.46% of their portfolio London, X0 376,897376.9k $9.7m $9.7m 2.46% Reduced -30.1k -30,074
22 AXXCESS WEALTH MANAGEMENT, LLC 0.22% of their portfolio CARLSBAD, CA 362,965363.0k $9.3m $9.3m 0.22% Added +108.4k +108,404
23 Fortitude Family Office, LLC 2.89% of their portfolio SCOTTSDALE, AZ 339,371339.4k $8.7m $8.7m 2.89% Added +28.5k +28,486
24 Tidal Investments LLC 0.06% of their portfolio Milwaukee, WI 339,077339.1k $8.7m $8.7m 0.06% Added +198.2k +198,219
25 ROCKLAND TRUST CO 0.37% of their portfolio HANOVER, MA 293,140293.1k $7.5m $7.5m 0.37% New
26 Cambria Investment Management, L.P. 0.46% of their portfolio Manhattan Beach, CA 266,136266.1k $6.8m $6.8m 0.46% New
27 Leelyn Smith, LLC 1.10% of their portfolio GENEVA, IL 259,877259.9k $6.7m $6.7m 1.10% Added +6.6k +6,616
28 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 248,279248.3k $6.4m $6.4m 0.00% Added +9.0k +8,963
29 A&I FINANCIAL SERVICES, LLC 3.23% of their portfolio LONE TREE, CO 222,129222.1k $5.7m $5.7m 3.23% Added +5.4k +5,384
30 Deane Retirement Strategies, Inc. 2.51% of their portfolio NEW ORLEANS, LA 217,648217.6k $5.6m $5.6m 2.51% Added +217.0k +216,952
31 CSS LLC/IL 0.33% of their portfolio CHICAGO, IL 205,764205.8k $5.3m $5.3m 0.33% Added +4.1k +4,079
32 Empire Financial Management Company, LLC 1.52% of their portfolio NEW YORK, NY 204,996205.0k $5.3m $5.3m 1.52% Reduced -661 -661
33 Principia Wealth Advisory, LLC 4.38% of their portfolio DALLAS, TX 200,450200.4k $5.2m $5.2m 4.38% Reduced -12.7k -12,699
34 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 199,414199.4k $5.1m $5.1m 0.01% Added +40.8k +40,807
35 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 196,550196.6k $5.1m $5.1m 0.02% Reduced -14.1k -14,129
36 CWM, LLC 0.02% of their portfolio OMAHA, NE 194,372194.4k $5.0m $5.0m 0.02% Reduced -2.6m -2,585,000
37 Upper Left Wealth Management, LLC 3.11% of their portfolio TAMPA, FL 181,056181.1k $4.7m $4.7m 3.11% Added +29.2k +29,174
38 Professional Financial Advisors, LLC 1.07% of their portfolio NORTH PLATTE, NE 179,591179.6k $4.6m $4.6m 1.07% Added +13.9k +13,933
39 Astor Investment Management LLC 2.47% of their portfolio CHICAGO, IL 177,689177.7k $4.6m $4.6m 2.47% Reduced -7.0k -7,050
40 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 176,400176.4k $4.5m $4.5m 0.01% Added +137.8k +137,800
41 Equitable Holdings, Inc. 0.04% of their portfolio NEW YORK, NY 171,614171.6k $4.4m $4.4m 0.04% Added +4.2k +4,205
42 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 171,235171.2k $4.4m $4.4m 0.01% Reduced -4.7k -4,715
43 Avestar Capital, LLC 0.29% of their portfolio New York, NY 156,034156.0k $4.0m $4.0m 0.29% Added +11.6k +11,597
44 Capitolis Liquid Global Markets LLC 0.03% of their portfolio NEW YORK, NY 149,300149.3k $3.8m $3.8m 0.03% Reduced -32.8k -32,800
45 Longview Financial Advisors, Inc. 2.95% of their portfolio HUNTSVILLE, AL 134,819134.8k $3.5m $3.5m 2.95% Reduced -12.9k -12,939
46 ASHTON THOMAS SECURITIES, LLC 0.83% of their portfolio ROCHESTER, NY 133,968134.0k $3.4m $3.4m 0.83% New
47 Fermata Advisors, LLC 0.90% of their portfolio SONOMA, CA 131,305131.3k $3.4m $3.4m 0.90% Added +18.3k +18,333
48 CoreCap Advisors, LLC 0.13% of their portfolio SOUTHFIELD, MI 129,462129.5k $3.3m $3.3m 0.13% Added +4.1k +4,149
49 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 128,230128.2k $3.3m $3.3m 0.00% Added +79.8k +79,794
50 Evelyn Partners Investment Management Services Ltd 0.47% of their portfolio London, X0 121,170121.2k $3.1m $3.1m 0.47% Reduced -3.0k -2,972
51 STANSBERRY ASSET MANAGEMENT, LLC 0.33% of their portfolio Westlake, TX 116,648116.6k $3.0m $3.0m 0.33% Reduced -2.7k -2,686
52 Live Oak Investment Partners 2.29% of their portfolio AUSTIN, TX 115,778115.8k $3.0m $3.0m 2.29% Added +12 +12
53 Atria Investments, Inc 0.03% of their portfolio Charlotte, NC 115,102115.1k $3.0m $3.0m 0.03% Reduced -5.0k -5,035
54 Scarborough Advisors, LLC 0.58% of their portfolio ANNAPOLIS, MD 113,140113.1k $2.9m $2.9m 0.58% Reduced -7.8k -7,776
55 Farther Finance Advisors, LLC 0.06% of their portfolio SAN FRANCISCO, CA 107,476107.5k $2.8m $2.8m 0.06% Reduced -65.4k -65,417
56 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 103,381103.4k $2.7m $2.7m 0.02% Reduced -7.4k -7,411
57 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 97,61397.6k $2.5m $2.5m 0.00% Added +75.1k +75,134
58 Empowered Funds, LLC 0.03% of their portfolio NEWTOWN SQUARE, PA 94,87394.9k $2.4m $2.4m 0.03% New
59 Canal Capital Management, LLC 0.38% of their portfolio Richmond, VA 92,47192.5k $2.4m $2.4m 0.38% Added +52.6k +52,555
60 MKD WEALTH COACHES, LLC 2.51% of their portfolio TROY, MI 92,43492.4k $2.4m $2.4m 2.51% Added +7 +7
61 ENTREWEALTH, LLC 1.61% of their portfolio AUSTIN, TX 90,66890.7k $2.3m $2.3m 1.61% Added +7.0k +7,029
62 TriaGen Wealth Management LLC 0.69% of their portfolio Calabasas, CA 88,50088.5k $2.3m $2.3m 0.69% Added +9.4k +9,397
63 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 81,81781.8k $2.1m $2.1m 0.00% Reduced -18.6k -18,573
64 Innova Wealth Partners 1.19% of their portfolio NEWTOWN, PA 78,64378.6k $2.0m $2.0m 1.19% Added +48.3k +48,257
65 Hilltop Holdings Inc. 0.13% of their portfolio DALLAS, TX 76,30676.3k $2.0m $2.0m 0.13% Added +299 +299
66 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 75,88475.9k $2.0m $2.0m 0.01% Added +19.8k +19,767
67 Fairman Group, LLC 1.59% of their portfolio CHESTERBROOK, PA 75,07975.1k $1.9m $1.9m 1.59% Reduced -11.2k -11,176
68 E&G Advisors, LLC 0.49% of their portfolio HOUSTON, TX 72,78272.8k $1.9m $1.9m 0.49% Reduced -2.6k -2,600
69 Midwest Financial Group LLC 0.97% of their portfolio Overland Park, KS 71,69971.7k $1.8m $1.8m 0.97% Added +3.1k +3,060
70 R. W. Roge & Company, Inc. 1.04% of their portfolio BOHEMIA, NY 71,21371.2k $1.8m $1.8m 1.04% New
71 Optivise Advisory Services LLC 0.91% of their portfolio FRANKLIN, TN 69,00869.0k $1.8m $1.8m 0.91% Added +1.2k +1,206
72 Twelve Points Wealth Management LLC 0.46% of their portfolio CONCORD, MA 66,85766.9k $1.7m $1.7m 0.46% Added +60 +60
73 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 66,84966.8k $1.7m $1.7m 0.00% Added +3.0k +2,998
74 Frontier Asset Management, LLC 0.46% of their portfolio SHERIDAN, WY 65,77265.8k $1.7m $1.7m 0.46% Reduced -63.0k -63,044
75 HOWARD BAILEY SECURITIES, LLC 0.52% of their portfolio FORT WAYNE, IN 65,55165.6k $1.7m $1.7m 0.52% Added +1.1k +1,121
76 RAINEY & RANDALL WEALTH ADVISORS INC. 0.30% of their portfolio Celebration, FL 63,69963.7k $1.6m $1.6m 0.30% Reduced -258.8k -258,838
77 IFG Advisory, LLC 0.08% of their portfolio ATLANTA, GA 62,39662.4k $1.6m $1.6m 0.08% Added +12.0k +12,002
78 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 60,22160.2k $1.5m $1.5m 0.00% Added +14.9k +14,949
79 Mariner, LLC 0.00% of their portfolio Overland Park, KS 57,19557.2k $1.5m $1.5m 0.00% Reduced -1.7k -1,681
80 Elyxium Wealth, LLC 0.51% of their portfolio BEVERLY HILLS, CA 53,32053.3k $1.4m $1.4m 0.51% Added +24.8k +24,777
81 RHS Financial, LLC 0.73% of their portfolio SAN FRANCISCO, CA 50,25050.2k $1.3m $1.3m 0.73% Reduced -2.9k -2,905
82 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 49,10449.1k $1.3m $1.3m 0.00% Added +24.6k +24,552
83 Castleview Partners, LLC 0.81% of their portfolio DALLAS, TX 49,05549.1k $1.3m $1.3m 0.81% Added +34.0k +34,000
84 Savvy Advisors, Inc. 0.08% of their portfolio NEW YORK, NY 48,64148.6k $1.3m $1.3m 0.08% Added +10.0k +10,024
85 Legacy Capital Group California, Inc. 0.33% of their portfolio LOS GATOS, CA 45,87245.9k $1.2m $1.2m 0.33% Added +1.2k +1,169
86 Perennial Investment Advisors, LLC 0.11% of their portfolio Los Angeles, CA 44,92844.9k $1.2m $1.2m 0.11% Added +19.0k +19,028
87 Sterneck Capital Management, LLC 0.58% of their portfolio KANSAS CITY, MO 44,05244.1k $1.1m $1.1m 0.58% Added +733 +733
88 Visionary Wealth Advisors 0.06% of their portfolio O'FALLON, IL 43,44143.4k $1.1m $1.1m 0.06% Reduced -7.4k -7,376
89 THOR INVESTMENT MANAGEMENT INC /OH/ /ADV 0.76% of their portfolio CINCINNATI, OH 43,26043.3k $1.1m $1.1m 0.76% Added +298 +298
90 MAI Capital Management 0.01% of their portfolio INDEPENDENCE, OH 40,74940.7k $1.0m $1.0m 0.01% Reduced -6.5k -6,468
91 Matrix Trust Co 0.17% of their portfolio DENVER, CO 40,74640.7k $1.0m $1.0m 0.17% Reduced -882 -882
92 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 39,12539.1k $1.0m $1.0m 0.00% Added +16.8k +16,796
93 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 37,31637.3k $959.8k $959.8k 0.00% Added +872 +872
94 Merit Financial Group, LLC 0.01% of their portfolio ALPHARETTA, GA 36,95437.0k $950.8k $950.8k 0.01% New
95 Columbus Macro, LLC 0.12% of their portfolio NEW CASTLE, PA 36,69036.7k $944.0k $944.0k 0.12% New
96 City Center Advisors, LLC 0.97% of their portfolio TROY, MI 35,28935.3k $908.0k $908.0k 0.97% Reduced -895 -895
97 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 34,46634.5k $888.2k $888.2k 0.00% Reduced -48.3k -48,299
98 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 33,26333.3k $855.9k $855.9k 0.00% Added +1.3k +1,277
99 Family Office Research LLC 0.40% of their portfolio Bethesda, MD 32,48732.5k $835.9k $835.9k 0.40% Added +7.4k +7,416
100 NWAM LLC 0.05% of their portfolio MERCER ISLAND, WA 31,99132.0k $819.3k $819.3k 0.05% Added +5.2k +5,180