Vault-13

MANAGED PORTFOLIO SERIES KHPI

KENSINGTON HEDGE · ETP · CUSIP 56167N183

67 institutional holders +13 vs Q2 2025
6,068,2796.1m shares reported held*
$155.9mreported value*
20 new 36 added 9 reduced 4 sold out net bought ≈ $44.6m (+1.7m 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 ($476.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $25.70.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 24: 9Q4 24: 33Q1 25: 53Q2 25: 54Q3 25: 6767Q3 24Q4 24Q1 25Q2 25Q3 25
Numbers
QuarterHolders
Q3 20249
Q4 202433
Q1 202553
Q2 202554
Q3 202567

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 24: 30 bought or addedQ4 24: 3 cut or sold outQ4 24Q1 25: 39 bought or addedQ1 25: 16 cut or sold outQ1 25Q2 25: 41 bought or addedQ2 25: 17 cut or sold outQ2 25Q3 25: 56 bought or addedQ3 25: 13 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2024303
Q1 20253916
Q2 20254117
Q3 20255613

Biggest buyers

LPL Financial LLC Added +798,156+798.2k
MONEY CONCEPTS CAPITAL CORP Added +159,390+159.4k
Sigma Planning Corp New +107,146+107.1k
Bison Wealth, LLC Added +79,554+79.6k
Advisory Services Network, LLC New +78,120+78.1k
Apollon Wealth Management, LLC Added +69,011+69.0k
Triumph Capital Management Added +60,952+61.0k
Aptus Capital Advisors, LLC Added +58,843+58.8k
GUARDIAN WEALTH ADVISORS, LLC / NC Added +58,843+58.8k
CPR Investments Inc. New +50,843+50.8k

Biggest sellers

Freedom Investment Management, Inc. Sold out -128,320-128.3k
JANE STREET GROUP, LLC Reduced -68,078-68.1k
Envestnet Portfolio Solutions, Inc. Sold out -51,716-51.7k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -28,132-28.1k
OLD MISSION CAPITAL LLC Reduced -22,227-22.2k
WOLVERINE TRADING, LLC Sold out -22,168-22.2k
Virtue Capital Management, LLC Reduced -13,173-13.2k
HRT FINANCIAL LP Sold out -12,324-12.3k
Strategic Blueprint, LLC Reduced -8,204-8.2k
Simplicity Wealth,LLC Reduced -6,466-6.5k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,452,2471.5m $37.1m $37.1m 0.01% Added +798.2k +798,156
2 HERITAGE OAK WEALTH ADVISORS LLC 4.47% of their portfolio SANTA ROSA BEACH, FL 482,026482.0k $12.3m $12.3m 4.47% Added +9.3k +9,287
3 Bison Wealth, LLC 0.98% of their portfolio ATLANTA, GA 408,040408.0k $10.6m $10.6m 0.98% Added +79.6k +79,554
4 Kestra Advisory Services, LLC 0.04% of their portfolio AUSTIN, TX 322,965323.0k $8.2m $8.2m 0.04% Added +19.6k +19,617
5 Prospera Financial Services Inc 0.13% of their portfolio Dallas, TX 291,995292.0k $7.5m $7.5m 0.13% Added +34.8k +34,761
6 Apollon Wealth Management, LLC 0.11% of their portfolio MOUNT PLEASANT, SC 242,807242.8k $6.2m $6.2m 0.11% Added +69.0k +69,011
7 United Advisor Group, LLC 0.79% of their portfolio CINCINNATI, OH 229,698229.7k $5.9m $5.9m 0.79% Added +44.1k +44,137
8 CoreCap Advisors, LLC 0.18% of their portfolio SOUTHFIELD, MI 191,668191.7k $4.9m $4.9m 0.18% Added +24.8k +24,770
9 Atria Investments, Inc 0.05% of their portfolio Charlotte, NC 174,794174.8k $4.5m $4.5m 0.05% Added +24.5k +24,527
10 MONEY CONCEPTS CAPITAL CORP 0.27% of their portfolio PALM BEACH GARDENS, FL 171,131171.1k $4.4m $4.4m 0.27% Added +159.4k +159,390
11 HFG Wealth Management, LLC 2.34% of their portfolio The Woodlands, TX 168,472168.5k $4.3m $4.3m 2.34% Added +13.1k +13,106
12 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 132,713132.7k $3.4m $3.4m 0.00% Added +407 +407
13 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 108,280108.3k $2.8m $2.8m 0.01% Added +26.8k +26,764
14 Arete Wealth Advisors, LLC 0.17% of their portfolio CHICAGO, IL 108,193108.2k $2.8m $2.8m 0.17% Reduced -5.3k -5,350
15 Sigma Planning Corp 0.08% of their portfolio ANN ARBOR, MI 107,146107.1k $2.7m $2.7m 0.08% New
16 Aptus Capital Advisors, LLC 0.02% of their portfolio FAIRHOPE, AL 102,484102.5k $2.6m $2.6m 0.02% Added +58.8k +58,843
17 GUARDIAN WEALTH ADVISORS, LLC / NC 0.17% of their portfolio RALEIGH, NC 102,484102.5k $2.6m $2.6m 0.17% Added +58.8k +58,843
18 Triumph Capital Management 0.67% of their portfolio DENVER, CO 96,73896.7k $2.5m $2.5m 0.67% Added +61.0k +60,952
19 Advisory Services Network, LLC 0.03% of their portfolio ATLANTA, GA 78,12078.1k $2.0m $2.0m 0.03% New
20 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 75,58775.6k $1.9m $1.9m 0.01% Added +39.4k +39,369
21 IFP Advisors, Inc 0.04% of their portfolio TAMPA, FL 60,32560.3k $1.5m $1.5m 0.04% Added +6.9k +6,881
22 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 60,23960.2k $1.5m $1.5m 0.01% Added +24.8k +24,848
23 Intrepid Financial Planning Group LLC 0.57% of their portfolio CARMEL, IN 58,14158.1k $1.5m $1.5m 0.57% Reduced -523 -523
24 Wealthcare Advisory Partners LLC 0.03% of their portfolio WEST CHESTER, PA 57,13357.1k $1.5m $1.5m 0.03% Added +11.5k +11,468
25 Strategic Blueprint, LLC 0.06% of their portfolio ATLANTA, GA 56,50056.5k $1.4m $1.4m 0.06% Reduced -8.2k -8,204
26 CPR Investments Inc. 0.89% of their portfolio Rochester, MI 50,84350.8k $1.3m $1.3m 0.89% New
27 Onyx Bridge Wealth Group LLC 0.14% of their portfolio TARRYTOWN, NY 50,43450.4k $1.3m $1.3m 0.14% Added +10.7k +10,734
28 Concurrent Investment Advisors, LLC 0.02% of their portfolio Tampa, FL 42,98343.0k $1.1m $1.1m 0.02% Added +27.8k +27,816
29 INDEPENDENT FINANCIAL GROUP, LLC 0.03% of their portfolio SAN DIEGO, CA 42,78842.8k $1.1m $1.1m 0.03% Added +983 +983
30 Cornerstone Wealth Management, LLC 0.05% of their portfolio ST. PETERS, MO 36,24936.2k $925.4k $925.4k 0.05% New
31 Balefire, LLC 0.15% of their portfolio DALLAS, TX 29,45429.5k $752.0k $752.0k 0.15% Added +256 +256
32 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 29,07729.1k $742.3k $742.3k 0.00% Reduced -28.1k -28,132
33 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 28,47128.5k $726.9k $726.9k 0.00% Added +3.1k +3,054
34 Joseph P. Lucia & Associates, LLC 0.26% of their portfolio Yorktown Heights, NY 26,63326.6k $679.9k $679.9k 0.26% Added +8.5k +8,462
35 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 24,21524.2k $618.2k $618.2k 0.01% New
36 U.S. Capital Wealth Advisors, LLC 0.02% of their portfolio AUSTIN, TX 22,35022.4k $570.6k $570.6k 0.02% Added +7.7k +7,700
37 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 20,65320.7k $527.0k $527.0k 0.00% Added +8.7k +8,734
38 Sunbelt Securities, Inc. 0.04% of their portfolio HOUSTON, TX 20,54520.5k $524.5k $524.5k 0.04% Added +3.1k +3,134
39 SWMG, LLC 0.15% of their portfolio FORT WORTH, TX 18,91618.9k $491.4k $491.4k 0.15% Added +562 +562
40 GeoWealth Management, LLC 0.02% of their portfolio CHICAGO, IL 18,66518.7k $476.5k $476.5k 0.02% New
41 Orion Porfolio Solutions, LLC 0.00% of their portfolio OMAHA, NE 18,61018.6k $475.1k $475.1k 0.00% New
42 Rossby Financial, LCC 0.16% of their portfolio MELBOURNE, FL 18,60018.6k $476.9k $476.9k 0.16% Unchanged
43 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 18,24918.2k $465.9k $465.9k 0.00% Reduced -68.1k -68,078
44 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 17,98218.0k $459.1k $459.1k 0.01% New
45 Ethos Financial Group, LLC 0.03% of their portfolio KING OF PRUSSIA, PA 16,61416.6k $424.2k $424.2k 0.03% New
46 Fulcrum Equity Management 0.43% of their portfolio PLANO, TX 16,60316.6k $423.9k $423.9k 0.43% Added +1.6k +1,610
47 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 16,07116.1k $410.3k $410.3k 0.00% New
48 NATURAL INVESTMENTS, LLC 0.20% of their portfolio WINDSOR, CA 15,34215.3k $817.0k $817.0k 0.20% New
49 Smartleaf Asset Management LLC 0.02% of their portfolio BOSTON, MA 14,92514.9k $383.9k $383.9k 0.02% Added +1.4k +1,431
50 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 14,49814.5k $370.1k $370.1k 0.00% Added +962 +962
51 Simplicity Wealth,LLC 0.02% of their portfolio SUMMIT, NJ 12,34212.3k $315.1k $315.1k 0.02% Reduced -6.5k -6,466
52 KINGSWOOD WEALTH ADVISORS, LLC 0.02% of their portfolio SAN DIEGO, CA 12,16812.2k $310.6k $310.6k 0.02% New
53 World Investment Advisors 0.01% of their portfolio LINCROFT, NJ 10,97311.0k $280.1k $280.1k 0.01% Added +1.1k +1,071
54 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 10,34710.3k $264.2k $264.2k 0.00% Reduced -2.7k -2,708
55 J.W. COLE ADVISORS, INC. 0.00% of their portfolio TAMPA, FL 9,6899.7k $247.4k $247.4k 0.00% New
56 Legacy Capital Wealth Partners, LLC 0.05% of their portfolio LITTLE ROCK, AR 9,3289.3k $238.1k $238.1k 0.05% Added +186 +186
57 Mariner, LLC 0.00% of their portfolio Overland Park, KS 9,0429.0k $230.8k $230.8k 0.00% New
58 OLD MISSION CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 8,5208.5k $217.5k $217.5k 0.01% Reduced -22.2k -22,227
59 Belpointe Asset Management LLC 0.01% of their portfolio RENO, NV 8,4008.4k $214.5k $214.5k 0.01% New
60 Fortis Capital Advisors, LLC 0.03% of their portfolio PRAIRIE VILLAGE, KS 8,4008.4k $214.5k $214.5k 0.03% New
61 Ausdal Financial Partners, Inc. 0.01% of their portfolio Davenport, IA 8,2568.3k $210.8k $210.8k 0.01% New
62 Virtue Capital Management, LLC 0.09% of their portfolio BRENTWOOD, TN 5,1775.2k $577.1k $577.1k 0.09% Reduced -13.2k -13,173
63 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,7263.7k $95.1k $95.1k 0.00% Added +3.7k +3,664
64 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 610610 $15.6k $15.6k 0.00% New
65 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 145145 $4.0k $4.0k 0.00% New
66 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 6565 $1.7k $1.7k 0.00% New
67 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 6060 $1.5k $1.5k 0.00% Unchanged