Vault-13

MANAGER DIRECTED PORTFOLIOS VGSR

VERT GLB SUST RE · ETP · CUSIP 56170L695

85 institutional holders +10 vs Q2 2025
30,354,18330.4m shares reported held*
$323.2mreported value*
13 new 38 added 18 reduced 2 sold out net sold ≈ $11.5m (-1.1m 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 ≈ $10.65.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100Q4 23: 53Q1 24: 55Q2 24: 61Q3 24: 64Q4 24: 79Q1 25: 81Q2 25: 75Q3 25: 8585Q4 23Q2 24Q4 24Q2 25Q3 25
Numbers
QuarterHolders
Q4 202353
Q1 202455
Q2 202461
Q3 202464
Q4 202479
Q1 202581
Q2 202575
Q3 202585

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 36 bought or addedQ1 24: 25 cut or sold outQ1 24Q2 24: 37 bought or addedQ2 24: 20 cut or sold outQ3 24: 34 bought or addedQ3 24: 27 cut or sold outQ3 24Q4 24: 38 bought or addedQ4 24: 24 cut or sold outQ1 25: 45 bought or addedQ1 25: 25 cut or sold outQ1 25Q2 25: 36 bought or addedQ2 25: 33 cut or sold outQ3 25: 51 bought or addedQ3 25: 20 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243625
Q2 20243720
Q3 20243427
Q4 20243824
Q1 20254525
Q2 20253633
Q3 20255120

Biggest buyers

FMR LLC Added +377,882+377.9k
Sand Hill Global Advisors, LLC New +374,791+374.8k
MASECO LLP New +309,482+309.5k
BRIGHTON JONES LLC Added +171,753+171.8k
Focus Partners Advisor Solutions, LLC Added +135,021+135.0k
Beacon Pointe Advisors, LLC New +80,034+80.0k
First Pacific Financial Added +72,889+72.9k
GTS SECURITIES LLC New +69,061+69.1k
US BANCORP \DE\ Added +66,933+66.9k
Savant Capital, LLC Added +58,392+58.4k

Biggest sellers

Focus Partners Wealth Reduced -2,132,907-2.1m
NATURAL INVESTMENTS, LLC Sold out -226,836-226.8k
WCG Wealth Advisors LLC Reduced -212,994-213.0k
FLOW TRADERS U.S. LLC Sold out -194,704-194.7k
Abacus Wealth Partners, LLC Reduced -172,313-172.3k
OSAIC HOLDINGS, INC. Reduced -142,920-142.9k
NORTHERN TRUST CORP Reduced -93,363-93.4k
HighTower Advisors, LLC Reduced -55,488-55.5k
RED LIGHTHOUSE INVESTMENT MANAGEMENT, LLC Reduced -14,460-14.5k
First Affirmative Financial Network Reduced -6,595-6.6k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Abacus Wealth Partners, LLC 18.75% of their portfolio SANTA MONICA, CA 12,240,75012.2m $130.4m $130.4m 18.75% Reduced -172.3k -172,313
2 BRIGHTON JONES LLC 0.88% of their portfolio SEATTLE, WA 3,445,9013.4m $36.7m $36.7m 0.88% Added +171.8k +171,753
3 First Pacific Financial 2.11% of their portfolio VANCOUVER, WA 1,427,2081.4m $15.2m $15.2m 2.11% Added +72.9k +72,889
4 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 1,405,2211.4m $14.9m $14.9m 0.02% Reduced -2.1m -2,132,907
5 FMR LLC 0.00% of their portfolio BOSTON, MA 1,326,9541.3m $14.1m $14.1m 0.00% Added +377.9k +377,882
6 Forum Financial Management, LP 0.18% of their portfolio LOMBARD, IL 1,254,3051.3m $13.4m $13.4m 0.18% Added +37.8k +37,755
7 PFG Investments, LLC 0.42% of their portfolio WOODBURY, NY 755,282755.3k $8.0m $8.0m 0.42% Added +39.0k +38,968
8 MISSION WEALTH MANAGEMENT, LP 0.14% of their portfolio Santa Barbara, CA 651,392651.4k $6.9m $6.9m 0.14% Reduced -5.3k -5,341
9 Colorado Capital Management, Inc. 2.30% of their portfolio BOULDER, CO 558,671558.7k $6.0m $6.0m 2.30% Added +6.0k +5,994
10 SOA Wealth Advisors, LLC. 0.93% of their portfolio NEW YORK, NY 509,767509.8k $5.4m $5.4m 0.93% Added +28.0k +28,033
11 Willow Creek Wealth Management Inc. 0.42% of their portfolio Sebastopol, CA 474,258474.3k $5.1m $5.1m 0.42% Added +24.0k +23,993
12 North Berkeley Wealth Management, LLC 3.74% of their portfolio Berkeley, CA 444,791444.8k $4.7m $4.7m 3.74% Reduced -3.4k -3,379
13 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 403,649403.6k $4.3m $4.3m 0.00% Reduced -55.5k -55,488
14 Focus Partners Advisor Solutions, LLC 0.05% of their portfolio SAINT LOUIS, MO 395,899395.9k $4.2m $4.2m 0.05% Added +135.0k +135,021
15 Sand Hill Global Advisors, LLC 0.14% of their portfolio Palo Alto, CA 374,791374.8k $4.0m $4.0m 0.14% New
16 LongView Asset Management LLC 2.60% of their portfolio SANTA FE, NM 353,225353.2k $3.8m $3.8m 2.60% Added +45.9k +45,883
17 MASECO LLP 0.16% of their portfolio LONDON, X0 309,482309.5k $3.3m $3.3m 0.16% New
18 Koss-Olinger Consulting, LLC 0.24% of their portfolio GAINESVILLE, FL 281,644281.6k $2.9m $2.9m 0.24% Unchanged
19 Savant Capital, LLC 0.02% of their portfolio ROCKFORD, IL 267,379267.4k $2.8m $2.8m 0.02% Added +58.4k +58,392
20 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 263,397263.4k $2.8m $2.8m 0.01% Added +20.2k +20,243
21 Balanced Rock Investment Advisors LLC 1.87% of their portfolio ROSLINDALE, MA 240,492240.5k $2.6m $2.6m 1.87% Added +9.5k +9,462
22 RED LIGHTHOUSE INVESTMENT MANAGEMENT, LLC 0.83% of their portfolio HILLSDALE, NY 224,186224.2k $2.4m $2.4m 0.83% Reduced -14.5k -14,460
23 Allodium Investment Consultants, LLC 1.23% of their portfolio MINNEAPOLIS, MN 205,125205.1k $2.2m $2.2m 1.23% Added +24.3k +24,335
24 Meritas Wealth Management, LLC 1.06% of their portfolio SAN RAFAEL, CA 200,148200.1k $2.1m $2.1m 1.06% Added +1.8k +1,786
25 Perigon Wealth Management, LLC 0.04% of their portfolio SAN FRANCISCO, CA 192,497192.5k $2.1m $2.1m 0.04% Reduced -251 -251
26 Prime Capital Investment Advisors, LLC 0.02% of their portfolio OVERLAND PARK, KS 182,544182.5k $1.9m $1.9m 0.02% Reduced -3.4k -3,393
27 WCG Wealth Advisors LLC 0.10% of their portfolio LAS VEGAS, NV 143,086143.1k $1.5m $1.5m 0.10% Reduced -213.0k -212,994
28 Hemington Wealth Management 0.18% of their portfolio FALLS CHURCH, VA 133,426133.4k $1.4m $1.4m 0.18% Added +2.5k +2,488
29 Betterment LLC 0.00% of their portfolio NEW YORK, NY 108,925108.9k $1.2m $1.2m 0.00% Added +35.9k +35,919
30 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 105,190105.2k $1.1m $1.1m 0.00% Reduced -142.9k -142,920
31 Level Financial Advisors 0.29% of their portfolio EAST AMHERST, NY 98,15998.2k $1.0m $1.0m 0.29% Reduced -425 -425
32 Index Fund Advisors, Inc. 0.04% of their portfolio IRVINE, CA 86,53586.5k $921.6k $921.6k 0.04% Added +11.5k +11,522
33 Silver Oak Advisory Group, Inc. 0.41% of their portfolio PORTLAND, OR 84,83184.8k $903.0k $903.0k 0.41% Added +7.3k +7,319
34 Beacon Pointe Advisors, LLC 0.01% of their portfolio NEWPORT BEACH, CA 80,03480.0k $852.4k $852.4k 0.01% New
35 GTS SECURITIES LLC 0.03% of their portfolio NEW YORK, NY 69,06169.1k $735.5k $735.5k 0.03% New
36 Modera Wealth Management, LLC 0.01% of their portfolio WESTWOOD, NJ 68,20368.2k $726.4k $726.4k 0.01% Unchanged
37 Pine Haven Investment Counsel, Inc 0.52% of their portfolio FAIRHAVEN, MA 68,10668.1k $725.3k $725.3k 0.52% Unchanged
38 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 67,40867.4k $717.9k $717.9k 0.00% Added +66.9k +66,933
39 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 62,24962.2k $663.0k $663.0k 0.00% Reduced -93.4k -93,363
40 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 48,68748.7k $519.0k $519.0k 0.00% Added +8.1k +8,085
41 Dynamic Advisor Solutions LLC 0.01% of their portfolio PHOENIX, AZ 46,35546.4k $493.7k $493.7k 0.01% Added +26.1k +26,114
42 Ariadne Wealth Management, LP 0.21% of their portfolio SANTA BARBARA, CA 45,77545.8k $475.8k $475.8k 0.21% Added +235 +235
43 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 44,62144.6k $475.2k $475.2k 0.00% New
44 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 42,09842.1k $448.3k $448.3k 0.00% Added +1.6k +1,552
45 NWAM LLC 0.02% of their portfolio MERCER ISLAND, WA 40,45440.5k $430.8k $430.8k 0.02% Added +802 +802
46 Aegis Wealth Management LLC 0.21% of their portfolio BETHESDA, MD 37,11137.1k $395.2k $395.2k 0.21% Unchanged
47 Private Wealth Management Group, LLC 0.10% of their portfolio PRINCETON, NJ 35,49235.5k $378.0k $378.0k 0.10% Added +884 +884
48 Modern Wealth Management, LLC 0.01% of their portfolio KANSAS CITY, MO 35,41035.4k $377.1k $377.1k 0.01% Unchanged
49 Apella Capital, LLC 0.01% of their portfolio WEST HARTFORD, CT 30,73730.7k $325.7k $325.7k 0.01% Added +5.7k +5,747
50 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 30,11030.1k $320.7k $320.7k 0.00% Added +395 +395
51 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 27,15427.2k $289.2k $289.2k 0.00% Added +7.3k +7,339
52 MB Generational Wealth, LLC 0.16% of their portfolio SPOKANE, WA 23,57123.6k $251.0k $251.0k 0.16% First filing
53 TRILLIUM ASSET MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 23,56623.6k $251.0k $251.0k 0.01% Unchanged
54 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 23,30323.3k $248.2k $248.2k 0.00% Added +116 +116
55 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 20,12420.1k $214.3k $214.3k 0.00% New
56 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 20,06120.1k $213.7k $213.7k 0.00% Reduced -1.1k -1,080
57 BetterWealth, LLC 0.05% of their portfolio SAN JOSE, CA 18,11318.1k $192.9k $192.9k 0.05% Added +1.2k +1,204
58 Cloud Capital Management, LLC 0.10% of their portfolio SEATTLE, WA 17,91417.9k $190.0k $190.0k 0.10% New
59 MORRIS FINANCIAL CONCEPTS, INC. 0.06% of their portfolio MOUNT PLEASANT, SC 16,68416.7k $177.7k $177.7k 0.06% Added +90 +90
60 JDH Wealth Management, LLC 0.12% of their portfolio SANTA ROSA, CA 16,43216.4k $175.0k $175.0k 0.12% Reduced -5.8k -5,779
61 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 16,15316.2k $172.0k $172.0k 0.00% New
62 First Affirmative Financial Network 0.08% of their portfolio COLORADO SPRINGS, CO 15,54515.5k $165.6k $165.6k 0.08% Reduced -6.6k -6,595
63 Ethic Inc. 0.00% of their portfolio NEW YORK, NY 15,52515.5k $165.3k $165.3k 0.00% Reduced -1.1k -1,114
64 Crestwood Advisors Group, LLC 0.00% of their portfolio BOSTON, MA 14,16814.2k $150.9k $150.9k 0.00% Reduced -2.0k -1,965
65 AdvisorNet Financial, Inc 0.01% of their portfolio MINNETONKA, MN 13,71513.7k $146.1k $146.1k 0.01% Added +138 +138
66 Fund Evaluation Group, LLC 0.01% of their portfolio CINCINNATI, OH 13,55413.6k $144.3k $144.3k 0.01% New
67 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 11,28411.3k $120.2k $120.2k 0.00% New
68 Caprock Group, LLC 0.00% of their portfolio BOISE, ID 10,90910.9k $116.6k $116.6k 0.00% First filing
69 Greykasell Wealth Strategies, Inc. 0.03% of their portfolio DANVILLE, CA 7,1757.2k $76.4k $76.4k 0.03% Unchanged
70 Aspect Partners, LLC 0.03% of their portfolio FAIRFAX, VA 6,7946.8k $72.4k $72.4k 0.03% Unchanged
71 CoreFirst Bank & Trust 0.02% of their portfolio TOPEKA, KS 3,3513.4k $35.7k $35.7k 0.02% New
72 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 3,2173.2k $34.3k $34.3k 0.00% Added +3.2k +3,215
73 SJS Investment Consulting Inc. 0.00% of their portfolio SYLVANIA, OH 2,9232.9k $31.1k $31.1k 0.00% Unchanged
74 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 2,1952.2k $23.4k $23.4k 0.00% New
75 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,7781.8k $18.9k $18.9k 0.00% Unchanged
76 BRIDGE GENERATIONS WEALTH MANAGEMENT LLC 0.01% of their portfolio South Miami, FL 1,5541.6k $16.6k $16.6k 0.01% Unchanged
77 Financial Connections Group, Inc. 0.01% of their portfolio CORTE MADERA, CA 1,4181.4k $15.0k $15.0k 0.01% Added +16 +16
78 Bank of New Hampshire 0.00% of their portfolio LACONIA, NH 1,1551.2k $12.3k $12.3k 0.00% Unchanged
79 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 995995 $10.6k $10.6k 0.00% Reduced -2.6k -2,579
80 BELLEVUE ASSET MANAGEMENT, LLC 0.00% of their portfolio BELLEVUE, WA 879879 $9.4k $9.4k 0.00% Added +10 +10
81 UBS Group AG 0.00% of their portfolio ZURICH, V8 721721 $7.7k $7.7k 0.00% New
82 COMERICA BANK 0.00% of their portfolio DALLAS, TX 620620 $6.6k $6.6k 0.00% Added +126 +126
83 Clarity Asset Management, Inc. 0.00% of their portfolio AMES, IA 286286 $3.0k $3.0k 0.00% Added +3 +3
84 Orion Capital Management LLC 0.00% of their portfolio CORONADO, CA 178178 $1.9k $1.9k 0.00% Unchanged
85 Clean Yield Group 0.00% of their portfolio NORWICH, VT 148148 $1.6k $1.6k 0.00% Unchanged