Vault-13

LITMAN GREGORY FDS TR DBMF

IMGP DBI MANAGED · ETP · CUSIP 53700T827

301 institutional holders +60 vs Q4 2025
83,481,89783.5m shares reported held*
$2.5bnreported value*
80 new 135 added 60 reduced 20 sold out net bought ≈ $733.7m (+24.3m 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 ($16.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $30.15. Options: 0 managers hold calls (— notional), 1 hold puts ($6.0k).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 101Q4 22: 153Q1 23: 138Q2 23: 137Q3 23: 136Q4 23: 131Q1 24: 140Q2 24: 156Q3 24: 158Q4 24: 191Q1 25: 191Q2 25: 191Q3 25: 192Q4 25: 241Q1 26: 301301Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025192
Q4 2025241
Q1 2026301

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 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 25Q2 25: 107 bought or addedQ2 25: 90 cut or sold outQ3 25: 113 bought or addedQ3 25: 80 cut or sold outQ3 25Q4 25: 151 bought or addedQ4 25: 74 cut or sold outQ1 26: 215 bought or addedQ1 26: 80 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202410154
Q3 20249370
Q4 202411267
Q1 202511297
Q2 202510790
Q3 202511380
Q4 202515174
Q1 202621580

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5m$2mQ2 25 calls: $468.3kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $284.0kQ3 25 puts: $49.0kQ3 25P/C 0.17Q4 25 calls: $805.3kQ4 25 puts: $2.0mQ4 25P/C 2.47Q1 26 calls: $0Q1 26 puts: $6.0kQ1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$468.3k$00.00
Q3 2025$284.0k$49.0k0.17
Q4 2025$805.3k$2.0m2.47
Q1 2026$0$6.0k—

Biggest buyers

LPL Financial LLC Added +16,386,579+16.4m
FLOW TRADERS U.S. LLC New +1,957,169+2.0m
BANK OF AMERICA CORP /DE/ Added +1,309,969+1.3m
MORGAN STANLEY Added +1,206,120+1.2m
Edge Wealth Management LLC New +1,062,494+1.1m
Beacon Pointe Advisors, LLC Added +1,058,597+1.1m
Concurrent Investment Advisors, LLC Added +614,029+614.0k
Farther Finance Advisors, LLC Added +436,011+436.0k
Prentice Wealth Management LLC New +435,694+435.7k
RAYMOND JAMES FINANCIAL INC Added +430,367+430.4k

Biggest sellers

TIAA TRUST, NATIONAL ASSOCIATION Sold out -3,121,070-3.1m
Innova Wealth Partners Reduced -394,989-395.0k
Valmark Advisers, Inc. Reduced -252,117-252.1k
Tidal Investments LLC Reduced -236,469-236.5k
Deane Retirement Strategies, Inc. Reduced -216,335-216.3k
OneDigital Investment Advisors LLC Reduced -200,261-200.3k
Carrera Capital Advisors Sold out -195,638-195.6k
Private Advisor Group, LLC Reduced -182,253-182.3k
Austin Wealth Management, LLC Reduced -171,821-171.8k
RENAISSANCE TECHNOLOGIES LLC Sold out -88,300-88.3k

Biggest calls

None

Biggest puts

SIMPLEX TRADING, LLC Reduced $6.0k200 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.18% of their portfolio FORT MILL, SC 22,024,21322.0m $664.0m $664.0m 0.18% Added +16.4m +16,386,579
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 9,051,2209.1m $272.9m $272.9m 0.02% Added +1.2m +1,206,120
3 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 7,570,8917.6m $228.7m $228.7m 0.02% Added +196.4k +196,408
4 TIAA Wealth Investment Management LLC 0.66% of their portfolio New York, NY 2,861,0262.9m $86.4m $86.4m 0.66% First filing
5 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 2,415,7432.4m $72.8m $72.8m 0.04% Added +248.1k +248,072
6 FLOW TRADERS U.S. LLC 1.87% of their portfolio NEW YORK, NY 1,957,1692.0m $59.0m $59.0m 1.87% New
7 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 1,887,5221.9m $56.9m $56.9m 0.02% Added +430.4k +430,367
8 Parcion Private Wealth LLC 2.86% of their portfolio BELLEVUE, WA 1,530,8141.5m $46.2m $46.2m 2.86% Reduced -25.8k -25,823
9 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,519,5441.5m $45.8m $45.8m 0.00% Added +1.3m +1,309,969
10 Tidal Investments LLC 0.13% of their portfolio Milwaukee, WI 1,383,7791.4m $41.7m $41.7m 0.13% Reduced -236.5k -236,469
11 Cardinal Point Capital Management ULC 2.28% of their portfolio TORONTO, A6 1,234,2971.2m $37.2m $37.2m 2.28% Added +69.7k +69,681
12 Beacon Pointe Advisors, LLC 0.17% of their portfolio NEWPORT BEACH, CA 1,067,0121.1m $32.2m $32.2m 0.17% Added +1.1m +1,058,597
13 Edge Wealth Management LLC 5.48% of their portfolio NEW YORK, NY 1,062,4941.1m $32.0m $32.0m 5.48% New
14 Goldstein Advisors, LLC 3.56% of their portfolio Madison, WI 1,062,4481.1m $32.0m $32.0m 3.56% Added +11.9k +11,893
15 Savant Capital, LLC 0.14% of their portfolio ROCKFORD, IL 955,805955.8k $28.8m $28.8m 0.14% Reduced -10.1k -10,059
16 POTOMAC FUND MANAGEMENT INC /ADV 0.99% of their portfolio BETHESDA, MD 945,021945.0k $28.5m $28.5m 0.99% Added +85.8k +85,843
17 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 922,338922.3k $27.8m $27.8m 0.01% Added +162.4k +162,363
18 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 742,623742.6k $22.4m $22.4m 0.01% Added +120.1k +120,082
19 Farther Finance Advisors, LLC 0.21% of their portfolio SAN FRANCISCO, CA 739,944739.9k $22.4m $22.4m 0.21% Added +436.0k +436,011
20 New York Life Investment Management LLC 0.17% of their portfolio New York, NY 682,558682.6k $20.6m $20.6m 0.17% Added +112.2k +112,233
21 Concurrent Investment Advisors, LLC 0.22% of their portfolio Tampa, FL 661,094661.1k $19.9m $19.9m 0.22% Added +614.0k +614,029
22 ROCKLAND TRUST CO 0.76% of their portfolio HANOVER, MA 627,654627.7k $18.9m $18.9m 0.76% Added +21.6k +21,636
23 SUMMIT WEALTH & RETIREMENT PLANNING, INC. 4.41% of their portfolio EAGLE, ID 612,604612.6k $18.5m $18.5m 4.41% Added +13.3k +13,322
24 Penserra Capital Management LLC 0.21% of their portfolio ORINDA, CA 589,782589.8k $17.8m $17.8m 0.21% Added +57.9k +57,931
25 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 588,269588.3k $17.7m $17.7m 0.02% Added +39.8k +39,835
26 IAG Wealth Partners, LLC 1.82% of their portfolio WAUKESHA, WI 541,170541.2k $16.3m $16.3m 1.82% Reduced -24.1k -24,148
27 ALM First Financial Advisors, LLC 2.77% of their portfolio DALLAS, TX 512,410512.4k $15.4m $15.4m 2.77% Added +40.1k +40,105
28 Fortitude Family Office, LLC 3.36% of their portfolio SCOTTSDALE, AZ 496,637496.6k $15.0m $15.0m 3.36% Added +48.0k +47,981
29 SAGE PRIVATE WEALTH GROUP, LLC 7.52% of their portfolio OAKBROOK TERRACE, IL 495,467495.5k $14.9m $14.9m 7.52% Added +1.4k +1,396
30 Austin Wealth Management, LLC 3.21% of their portfolio Austin, TX 463,962464.0k $14.1m $14.1m 3.21% Reduced -171.8k -171,821
31 Beacon Harbor Wealth Advisors, Inc. 2.83% of their portfolio VIRGINIA BEACH, VA 447,198447.2k $13.5m $13.5m 2.83% Added +10.2k +10,186
32 OneDigital Investment Advisors LLC 0.13% of their portfolio OVERLAND PARK, KS 444,093444.1k $13.4m $13.4m 0.13% Reduced -200.3k -200,261
33 Prentice Wealth Management LLC 2.96% of their portfolio Rochester, NY 435,694435.7k $13.1m $13.1m 2.96% New
34 Steward Partners Investment Advisory, LLC 0.07% of their portfolio STAMFORD, CT 424,687424.7k $12.8m $12.8m 0.07% Added +407.7k +407,728
35 Merit Financial Group, LLC 0.09% of their portfolio ALPHARETTA, GA 402,206402.2k $12.1m $12.1m 0.09% Added +108.5k +108,459
36 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 360,299360.3k $10.9m $10.9m 0.02% Added +332.1k +332,083
37 A&I FINANCIAL SERVICES, LLC 5.11% of their portfolio LONE TREE, CO 357,497357.5k $10.8m $10.8m 5.11% Added +35.1k +35,131
38 Scarborough Advisors, LLC 1.13% of their portfolio ANNAPOLIS, MD 343,625343.6k $10.4m $10.4m 1.13% Reduced -2.1k -2,052
39 Professional Financial Advisors, LLC 1.95% of their portfolio NORTH PLATTE, NE 316,920316.9k $9.6m $9.6m 1.95% Added +116.7k +116,738
40 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 302,054302.1k $9.1m $9.1m 0.00% Reduced -15.3k -15,275
41 Cambria Investment Management, L.P. 0.51% of their portfolio Manhattan Beach, CA 301,467301.5k $9.1m $9.1m 0.51% Reduced -71.4k -71,448
42 Evelyn Partners Asset Management Ltd 2.21% of their portfolio London, X0 297,096297.1k $9.0m $9.0m 2.21% Reduced -5.1k -5,084
43 AXXCESS WEALTH MANAGEMENT, LLC 0.29% of their portfolio CARLSBAD, CA 296,950296.9k $9.0m $9.0m 0.29% Added +6.8k +6,792
44 Leelyn Smith, LLC 1.25% of their portfolio GENEVA, IL 296,205296.2k $8.9m $8.9m 1.25% Added +38.7k +38,723
45 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 286,203286.2k $8.6m $8.6m 0.01% Added +39.8k +39,768
46 ASHTON THOMAS SECURITIES, LLC 1.05% of their portfolio ROCHESTER, NY 277,807277.8k $8.4m $8.4m 1.05% Added +7.1k +7,121
47 Equitable Holdings, Inc. 0.05% of their portfolio NEW YORK, NY 274,508274.5k $7.7m $7.7m 0.05% Added +64.0k +64,012
48 Private Advisor Group, LLC 0.04% of their portfolio MORRISTOWN, NJ 253,270253.3k $7.6m $7.6m 0.04% Reduced -182.3k -182,253
49 FMA Wealth Management, LLC 4.98% of their portfolio DUXBURY, MA 248,127248.1k $7.5m $7.5m 4.98% Added +644 +644
50 Valmark Advisers, Inc. 0.08% of their portfolio AKRON, OH 218,130218.1k $6.6m $6.6m 0.08% Reduced -252.1k -252,117
51 Empire Financial Management Company, LLC 1.46% of their portfolio NEW YORK, NY 213,768213.8k $6.4m $6.4m 1.46% Added +2.2k +2,205
52 Empowered Funds, LLC 0.04% of their portfolio NEWTOWN SQUARE, PA 207,866207.9k $6.3m $6.3m 0.04% Added +3.6k +3,556
53 CSS LLC/IL 0.35% of their portfolio CHICAGO, IL 205,764205.8k $6.2m $6.2m 0.35% Unchanged
54 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 201,044201.0k $6.1m $6.1m 0.02% Reduced -43.9k -43,891
55 Upper Left Wealth Management, LLC 3.56% of their portfolio TAMPA, FL 200,174200.2k $6.0m $6.0m 3.56% Added +4.2k +4,231
56 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 199,754199.8k $6.0m $6.0m 0.02% Reduced -9.5k -9,486
57 Fermata Advisors, LLC 1.27% of their portfolio SONOMA, CA 186,740186.7k $5.6m $5.6m 1.27% Added +7.5k +7,540
58 Kovack Advisors, Inc. 0.30% of their portfolio FT. LAUDERDALE, FL 185,040185.0k $5.6m $5.6m 0.30% Added +144.6k +144,641
59 CAPITOLIS LIQUID GLOBAL MARKETS LLC 0.03% of their portfolio NEW YORK, NY 181,800181.8k $5.5m $5.5m 0.03% First filing
60 CWM, LLC 0.01% of their portfolio OMAHA, NE 181,221181.2k $5.5m $5.5m 0.01% Added +6.9k +6,853
61 Beacon Capital Management, Inc. 0.28% of their portfolio DAYTON, OH 166,296166.3k $5.0m $5.0m 0.28% Added +4.6k +4,586
62 CoreCap Advisors, LLC 0.17% of their portfolio SOUTHFIELD, MI 166,095166.1k $5.0m $5.0m 0.17% Added +38.5k +38,472
63 Longview Financial Advisors, Inc. 2.76% of their portfolio HUNTSVILLE, AL 149,763149.8k $4.5m $4.5m 2.76% Added +9.8k +9,792
64 Ethos Financial Group, LLC 0.33% of their portfolio KING OF PRUSSIA, PA 149,281149.3k $4.5m $4.5m 0.33% Added +12.1k +12,078
65 MANNING & NAPIER ADVISORS LLC 0.06% of their portfolio Fairport, NY 146,677146.7k $4.4m $4.4m 0.06% Added +74.4k +74,407
66 Elyxium Wealth, LLC 1.41% of their portfolio BEVERLY HILLS, CA 145,714145.7k $4.4m $4.4m 1.41% Added +8.7k +8,707
67 Live Oak Investment Partners 2.56% of their portfolio AUSTIN, TX 144,036144.0k $4.3m $4.3m 2.56% Added +6.0k +6,014
68 Avestar Capital, LLC 0.29% of their portfolio New York, NY 139,617139.6k $4.2m $4.2m 0.29% Reduced -4.7k -4,723
69 ENTREWEALTH, LLC 1.87% of their portfolio AUSTIN, TX 138,109138.1k $4.2m $4.2m 1.87% Added +7.6k +7,644
70 SKY-MOUNTAIN CAPITAL MANAGEMENT, INC. 2.97% of their portfolio KETCHUM, ID 137,123137.1k $4.1m $4.1m 2.97% Added +37.2k +37,226
71 Sterneck Capital Management, LLC 1.78% of their portfolio KANSAS CITY, MO 131,203131.2k $4.0m $4.0m 1.78% Added +2.0k +2,003
72 ASPIRIANT, LLC 0.11% of their portfolio San Francisco, CA 126,518126.5k $3.8m $3.8m 0.11% Reduced -4.1k -4,086
73 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 125,678125.7k $3.8m $3.8m 0.02% Added +28.3k +28,321
74 Mission Creek Capital Partners, Inc. 0.74% of their portfolio SAN FRANCISCO, CA 123,419123.4k $3.7m $3.7m 0.74% New
75 Integrated Wealth Concepts LLC 0.03% of their portfolio WALTHAM, MA 121,616121.6k $3.7m $3.7m 0.03% Added +92.7k +92,665
76 Atria Investments, Inc 0.04% of their portfolio Charlotte, NC 121,103121.1k $3.7m $3.7m 0.04% Added +1.7k +1,702
77 Evelyn Partners Investment Management Services Ltd 0.43% of their portfolio London, X0 120,554120.6k $3.6m $3.6m 0.43% Reduced -7.1k -7,100
78 STANSBERRY ASSET MANAGEMENT, LLC 0.37% of their portfolio Westlake, TX 117,865117.9k $3.6m $3.6m 0.37% Added +54 +54
79 Principia Wealth Advisory, LLC 1.94% of their portfolio DALLAS, TX 113,842113.8k $3.4m $3.4m 1.94% Reduced -34.3k -34,296
80 Fairman Group, LLC 2.64% of their portfolio CHESTERBROOK, PA 102,256102.3k $3.1m $3.1m 2.64% Added +13.1k +13,051
81 Sound Financial Strategies Group, LLC 2.09% of their portfolio MADISON, MS 101,535101.5k $3.1m $3.1m 2.09% Added +25.7k +25,693
82 Wealth High Governance Asset Management Ltda. 0.48% of their portfolio SAO PAULO, D5 101,154101.2k $3.0m $3.0m 0.48% Added +18.7k +18,711
83 Advyzon Investment Management, LLC 0.27% of their portfolio LISLE, IL 99,49099.5k $3.0m $3.0m 0.27% Added +70.8k +70,788
84 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 96,74896.7k $2.9m $2.9m 0.00% New
85 MKD WEALTH COACHES, LLC 2.84% of their portfolio TROY, MI 95,83595.8k $2.9m $2.9m 2.84% Added +3.9k +3,931
86 Worth Asset Management, LLC 1.06% of their portfolio DALLAS, TX 94,48794.5k $2.8m $2.8m 1.06% Reduced -19.5k -19,549
87 Collaborative Fund Advisors, LLC 1.74% of their portfolio RENO, NV 93,48693.5k $2.8m $2.8m 1.74% First filing
88 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 91,67091.7k $2.8m $2.8m 0.01% Added +4.5k +4,524
89 MGO ONE SEVEN LLC 0.06% of their portfolio Beachwood, OH 91,25591.3k $2.8m $2.8m 0.06% Added +76.5k +76,473
90 EXCHANGE TRADED CONCEPTS, LLC 0.02% of their portfolio Oklahoma City, OK 90,41290.4k $2.7m $2.7m 0.02% Added +63.0k +63,028
91 Perigon Wealth Management, LLC 0.05% of their portfolio SAN FRANCISCO, CA 89,62189.6k $2.7m $2.7m 0.05% Added +81.2k +81,151
92 Perennial Investment Advisors, LLC 0.21% of their portfolio Los Angeles, CA 89,13789.1k $2.7m $2.7m 0.21% Added +13.2k +13,192
93 Mariner, LLC 0.00% of their portfolio Overland Park, KS 88,94488.9k $2.7m $2.7m 0.00% Added +25.0k +25,043
94 R. W. Roge & Company, Inc. 1.26% of their portfolio BOHEMIA, NY 87,43787.4k $2.6m $2.6m 1.26% Added +32.1k +32,112
95 Good Steward Wealth Advisors,LLC 1.66% of their portfolio CLARKSVILLE, TN 85,82885.8k $2.6m $2.6m 1.66% Added +4.2k +4,213
96 Midwest Financial Group LLC 1.04% of their portfolio Overland Park, KS 80,92280.9k $2.4m $2.4m 1.04% Added +344 +344
97 ARWA LLC 1.20% of their portfolio FORT WORTH, TX 79,99780.0k $2.4m $2.4m 1.20% Added +51.2k +51,152
98 Forum Finance Group S.A. 1.02% of their portfolio GENEVA, V8 77,55477.6k $1.9m $1.9m 1.02% First filing
99 Stonebridge Financial Group, LLC 0.19% of their portfolio Wormleysburg, PA 77,04777.0k $2.3m $2.3m 0.19% Added +5.2k +5,230
100 Rubicon Advisors, GP 1.97% of their portfolio REDDING, CA 74,89374.9k $2.3m $2.3m 1.97% New