Vault-13

MANAGER DIRECTED PORTFOLIOS SWP

SWP GROWTH & INC · ETP · CUSIP 56170L612

5 institutional holders -2 vs Q3 2025
5,417,9265.4m shares reported held*
$150.5mreported value*
2 new 2 added 1 reduced 4 sold out net bought ≈ $29.4m (+659.1k 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 ≈ $27.78.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0258Q3 24: 3Q4 24: 4Q1 25: 5Q2 25: 5Q3 25: 7Q4 25: 55Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25
Numbers
QuarterHolders
Q3 20243
Q4 20244
Q1 20255
Q2 20255
Q3 20257
Q4 20255

Buyers vs sellers

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

Bought or addedCut or sold out
10010Q4 24: 3 bought or addedQ4 24: 1 cut or sold outQ4 24Q1 25: 3 bought or addedQ1 25: 0 cut or sold outQ1 25Q2 25: 0 bought or addedQ2 25: 3 cut or sold outQ2 25Q3 25: 6 bought or addedQ3 25: 2 cut or sold outQ3 25Q4 25: 4 bought or addedQ4 25: 5 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q4 202431
Q1 202530
Q2 202503
Q3 202562
Q4 202545

Biggest buyers

Strategic Wealth Partners, Ltd. Added +1,257,268+1.3m
BRIAN LOW FINANCIAL GROUP, LLC Added +33,204+33.2k
MML INVESTORS SERVICES, LLC New +22,906+22.9k
JANE STREET GROUP, LLC New +10,352+10.4k

Biggest sellers

NATURAL INVESTMENTS, LLC Sold out -648,776-648.8k
CITADEL ADVISORS LLC Sold out -8,069-8.1k
Simplicity Wealth,LLC Sold out -7,525-7.5k
UBS Group AG Reduced -128-128
Parallel Advisors, LLC Sold out -122-122

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Strategic Wealth Partners, Ltd. 9.00% of their portfolio INDEPENDENCE, OH 4,726,8834.7m $131.3m $131.3m 9.00% Added +1.3m +1,257,268
2 BRIAN LOW FINANCIAL GROUP, LLC 12.95% of their portfolio BATON ROUGE, LA 657,672657.7k $18.3m $18.3m 12.95% Added +33.2k +33,204
3 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 22,90622.9k $636.3k $636.3k 0.00% New
4 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 10,35210.4k $287.6k $287.6k 0.00% New
5 UBS Group AG 0.00% of their portfolio ZURICH, V8 113113 $3.1k $3.1k 0.00% Reduced -128 -128