Vault-13

MANAGER DIRECTED PORTFOLIOS VGSR

VERT GLB SUST RE · ETP · CUSIP 56170L695

87 institutional holders +2 vs Q3 2025
34,308,61934.3m shares reported held*
$356.8mreported value*
6 new 48 added 19 reduced 4 sold out net bought ≈ $46.2m (+4.4m 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 ≈ $10.40.

Trends to Q4 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: 85Q4 25: 8787Q4 23Q2 24Q4 24Q2 25Q4 25
Numbers
QuarterHolders
Q4 202353
Q1 202455
Q2 202461
Q3 202464
Q4 202479
Q1 202581
Q2 202575
Q3 202585
Q4 202587

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 outQ2 24: 37 bought or addedQ2 24: 20 cut or sold outQ2 24Q3 24: 34 bought or addedQ3 24: 27 cut or sold outQ4 24: 38 bought or addedQ4 24: 24 cut or sold outQ4 24Q1 25: 45 bought or addedQ1 25: 25 cut or sold outQ2 25: 36 bought or addedQ2 25: 33 cut or sold outQ2 25Q3 25: 51 bought or addedQ3 25: 20 cut or sold outQ4 25: 54 bought or addedQ4 25: 23 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243625
Q2 20243720
Q3 20243427
Q4 20243824
Q1 20254525
Q2 20253633
Q3 20255120
Q4 20255423

Biggest buyers

Focus Partners Wealth Added +2,254,445+2.3m
NATURAL INVESTMENTS, LLC New +715,779+715.8k
WCG Wealth Advisors LLC Added +390,388+390.4k
Savant Capital, LLC Added +185,705+185.7k
Abacus Wealth Partners, LLC Added +171,537+171.5k
Beacon Pointe Advisors, LLC Added +165,707+165.7k
PFG Investments, LLC Added +156,158+156.2k
BRIGHTON JONES LLC Added +132,496+132.5k
NORTHERN TRUST CORP Added +93,363+93.4k
Mason & Associates Inc New +92,303+92.3k

Biggest sellers

Focus Partners Advisor Solutions, LLC Reduced -280,079-280.1k
HighTower Advisors, LLC Reduced -55,788-55.8k
OSAIC HOLDINGS, INC. Reduced -52,157-52.2k
Koss-Olinger Consulting, LLC Reduced -25,830-25.8k
CITADEL ADVISORS LLC Sold out -20,124-20.1k
Cloud Capital Management, LLC Sold out -17,914-17.9k
Crestwood Advisors Group, LLC Sold out -14,168-14.2k
MISSION WEALTH MANAGEMENT, LP Reduced -13,180-13.2k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -11,196-11.2k
LPL Financial LLC Reduced -9,399-9.4k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Abacus Wealth Partners, LLC 12.67% of their portfolio SANTA MONICA, CA 12,412,28712.4m $129.1m $129.1m 12.67% Added +171.5k +171,537
2 Focus Partners Wealth 0.04% of their portfolio ST LOUIS, MO 3,659,6663.7m $38.1m $38.1m 0.04% Added +2.3m +2,254,445
3 BRIGHTON JONES LLC 1.37% of their portfolio SEATTLE, WA 3,578,3973.6m $37.2m $37.2m 1.37% Added +132.5k +132,496
4 First Pacific Financial 2.02% of their portfolio VANCOUVER, WA 1,486,3341.5m $15.5m $15.5m 2.02% Added +59.1k +59,126
5 FMR LLC 0.00% of their portfolio BOSTON, MA 1,364,8401.4m $14.2m $14.2m 0.00% Added +37.9k +37,886
6 Forum Financial Management, LP 0.18% of their portfolio LOMBARD, IL 1,310,3701.3m $13.6m $13.6m 0.18% Added +56.1k +56,065
7 PFG Investments, LLC 0.45% of their portfolio WOODBURY, NY 911,440911.4k $9.5m $9.5m 0.45% Added +156.2k +156,158
8 NATURAL INVESTMENTS, LLC 1.85% of their portfolio WINDSOR, CA 715,779715.8k $7.4m $7.4m 1.85% New
9 MISSION WEALTH MANAGEMENT, LP 0.14% of their portfolio Santa Barbara, CA 638,212638.2k $6.6m $6.6m 0.14% Reduced -13.2k -13,180
10 Colorado Capital Management, Inc. 2.18% of their portfolio BOULDER, CO 559,209559.2k $5.8m $5.8m 2.18% Added +538 +538
11 WCG Wealth Advisors LLC 0.16% of their portfolio LAS VEGAS, NV 533,474533.5k $5.5m $5.5m 0.16% Added +390.4k +390,388
12 SOA Wealth Advisors, LLC. 0.92% of their portfolio NEW YORK, NY 523,318523.3k $5.4m $5.4m 0.92% Added +13.6k +13,551
13 North Berkeley Wealth Management, LLC 2.90% of their portfolio Berkeley, CA 471,942471.9k $4.9m $4.9m 2.90% Added +27.2k +27,151
14 Savant Capital, LLC 0.03% of their portfolio ROCKFORD, IL 453,084453.1k $4.7m $4.7m 0.03% Added +185.7k +185,705
15 Sand Hill Global Advisors, LLC 0.14% of their portfolio Palo Alto, CA 397,966398.0k $4.1m $4.1m 0.14% Added +23.2k +23,175
16 MASECO LLP 0.17% of their portfolio LONDON, X0 382,176382.2k $4.0m $4.0m 0.17% Added +72.7k +72,694
17 LongView Asset Management LLC 2.52% of their portfolio SANTA FE, NM 347,874347.9k $3.6m $3.6m 2.52% Reduced -5.4k -5,351
18 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 347,861347.9k $3.6m $3.6m 0.00% Reduced -55.8k -55,788
19 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 333,635333.6k $3.5m $3.5m 0.01% Added +70.2k +70,238
20 Koss-Olinger Consulting, LLC 0.21% of their portfolio GAINESVILLE, FL 255,814255.8k $2.7m $2.7m 0.21% Reduced -25.8k -25,830
21 Balanced Rock Investment Advisors LLC 1.88% of their portfolio ROSLINDALE, MA 254,973255.0k $2.7m $2.7m 1.88% Added +14.5k +14,481
22 Beacon Pointe Advisors, LLC 0.02% of their portfolio NEWPORT BEACH, CA 245,741245.7k $2.6m $2.6m 0.02% Added +165.7k +165,707
23 RED LIGHTHOUSE INVESTMENT MANAGEMENT, LLC 0.85% of their portfolio HILLSDALE, NY 227,522227.5k $2.4m $2.4m 0.85% Added +3.3k +3,336
24 Allodium Investment Consultants, LLC 1.13% of their portfolio MINNEAPOLIS, MN 214,754214.8k $2.2m $2.2m 1.13% Added +9.6k +9,629
25 Perigon Wealth Management, LLC 0.04% of their portfolio SAN FRANCISCO, CA 212,655212.7k $2.2m $2.2m 0.04% Added +20.2k +20,158
26 Meritas Wealth Management, LLC 1.02% of their portfolio SAN RAFAEL, CA 204,076204.1k $2.1m $2.1m 1.02% Added +3.9k +3,928
27 Prime Capital Investment Advisors, LLC 0.02% of their portfolio OVERLAND PARK, KS 178,622178.6k $1.9m $1.9m 0.02% Reduced -3.9k -3,922
28 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 155,612155.6k $1.6m $1.6m 0.00% Added +93.4k +93,363
29 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 116,256116.3k $1.2m $1.2m 0.00% Added +48.8k +48,848
30 Focus Partners Advisor Solutions, LLC 0.01% of their portfolio SAINT LOUIS, MO 115,820115.8k $1.2m $1.2m 0.01% Reduced -280.1k -280,079
31 Betterment LLC 0.00% of their portfolio NEW YORK, NY 113,725113.7k $1.2m $1.2m 0.00% Added +4.8k +4,800
32 Level Financial Advisors 0.29% of their portfolio EAST AMHERST, NY 105,452105.5k $1.1m $1.1m 0.29% Added +7.3k +7,293
33 Silver Oak Advisory Group, Inc. 0.45% of their portfolio PORTLAND, OR 96,72496.7k $1.0m $1.0m 0.45% Added +11.9k +11,893
34 Mason & Associates Inc 0.18% of their portfolio LOS ANGELES, CA 92,30392.3k $960.0k $960.0k 0.18% New
35 Dynamic Advisor Solutions LLC 0.03% of their portfolio PHOENIX, AZ 88,20688.2k $917.3k $917.3k 0.03% Added +41.9k +41,851
36 GTS SECURITIES LLC 0.03% of their portfolio NEW YORK, NY 88,14588.1k $916.7k $916.7k 0.03% Added +19.1k +19,084
37 Index Fund Advisors, Inc. 0.04% of their portfolio IRVINE, CA 84,42084.4k $878.0k $878.0k 0.04% Reduced -2.1k -2,115
38 MLG Wealth Management DBA Pine Grove Financial Group 0.10% of their portfolio WOODBURY, MN 82,21682.2k $855.0k $855.0k 0.10% First filing
39 Pine Haven Investment Counsel, Inc 0.52% of their portfolio FAIRHAVEN, MA 70,35770.4k $731.7k $731.7k 0.52% Added +2.3k +2,251
40 Modera Wealth Management, LLC 0.01% of their portfolio WESTWOOD, NJ 63,08363.1k $656.1k $656.1k 0.01% Reduced -5.1k -5,120
41 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 53,03353.0k $551.6k $551.6k 0.00% Reduced -52.2k -52,157
42 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 49,88849.9k $518.8k $518.8k 0.00% Added +26.6k +26,585
43 Ariadne Wealth Management, LP 0.21% of their portfolio SANTA BARBARA, CA 46,01746.0k $510.7k $510.7k 0.21% Added +242 +242
44 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 43,26043.3k $449.9k $449.9k 0.00% Added +1.2k +1,162
45 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 40,58440.6k $422.1k $422.1k 0.00% Reduced -4.0k -4,037
46 Private Wealth Management Group, LLC 0.11% of their portfolio PRINCETON, NJ 39,43339.4k $410.1k $410.1k 0.11% Added +3.9k +3,941
47 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 37,49137.5k $389.9k $389.9k 0.00% Reduced -11.2k -11,196
48 Aegis Wealth Management LLC 0.22% of their portfolio BETHESDA, MD 37,11137.1k $386.0k $386.0k 0.22% Unchanged
49 NWAM LLC 0.02% of their portfolio MERCER ISLAND, WA 36,83536.8k $383.1k $383.1k 0.02% Reduced -3.6k -3,619
50 Modern Wealth Management, LLC 0.01% of their portfolio KANSAS CITY, MO 35,41035.4k $368.3k $368.3k 0.01% Unchanged
51 Apella Capital, LLC 0.01% of their portfolio WEST HARTFORD, CT 34,56334.6k $359.5k $359.5k 0.01% Added +3.8k +3,826
52 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 32,49432.5k $337.9k $337.9k 0.00% Added +2.4k +2,384
53 Wheels Up Wealth, Inc. 0.25% of their portfolio BENICIA, CA 25,74625.7k $267.8k $267.8k 0.25% First filing
54 Powerhouse Assets LLC 0.23% of their portfolio LINCOLN, MA 25,57525.6k $266.0k $266.0k 0.23% First filing
55 MB Generational Wealth, LLC 0.13% of their portfolio SPOKANE, WA 24,25024.2k $252.2k $252.2k 0.13% Added +679 +679
56 TRILLIUM ASSET MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 23,56623.6k $245.0k $245.0k 0.01% Unchanged
57 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 19,42319.4k $202.0k $202.0k 0.00% Reduced -638 -638
58 BetterWealth, LLC 0.05% of their portfolio SAN JOSE, CA 19,05919.1k $198.2k $198.2k 0.05% Added +946 +946
59 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 17,75517.8k $184.7k $184.7k 0.00% Reduced -9.4k -9,399
60 MORRIS FINANCIAL CONCEPTS, INC. 0.06% of their portfolio MOUNT PLEASANT, SC 16,71116.7k $173.8k $173.8k 0.06% Added +27 +27
61 JDH Wealth Management, LLC 0.12% of their portfolio SANTA ROSA, CA 16,43216.4k $170.9k $170.9k 0.12% Unchanged
62 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 15,75415.8k $163.8k $163.8k 0.00% Reduced -399 -399
63 Ethic Inc. 0.00% of their portfolio NEW YORK, NY 15,28215.3k $158.9k $158.9k 0.00% Reduced -243 -243
64 AdvisorNet Financial, Inc 0.01% of their portfolio MINNETONKA, MN 15,20915.2k $158.2k $158.2k 0.01% Added +1.5k +1,494
65 Fund Evaluation Group, LLC 0.00% of their portfolio CINCINNATI, OH 14,20414.2k $147.7k $147.7k 0.00% Added +650 +650
66 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 12,72012.7k $132.3k $132.3k 0.00% Added +1.4k +1,436
67 Caprock Group, LLC 0.00% of their portfolio BOISE, ID 11,10411.1k $115.5k $115.5k 0.00% Added +195 +195
68 AXXCESS WEALTH MANAGEMENT, LLC 0.00% of their portfolio CARLSBAD, CA 10,41110.4k $108.3k $108.3k 0.00% New
69 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 9,2099.2k $95.8k $95.8k 0.00% Added +7.0k +7,014
70 Greykasell Wealth Strategies, Inc. 0.03% of their portfolio DANVILLE, CA 7,1757.2k $74.6k $74.6k 0.03% Unchanged
71 Aspect Partners, LLC 0.03% of their portfolio FAIRFAX, VA 6,7946.8k $70.7k $70.7k 0.03% Unchanged
72 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 6,7896.8k $70.6k $70.6k 0.00% Added +5.8k +5,794
73 CoreFirst Bank & Trust 0.02% of their portfolio TOPEKA, KS 3,3513.4k $34.9k $34.9k 0.02% Unchanged
74 SJS Investment Consulting Inc. 0.00% of their portfolio SYLVANIA, OH 2,1232.1k $22.1k $22.1k 0.00% Reduced -800 -800
75 BRIDGE GENERATIONS WEALTH MANAGEMENT LLC 0.01% of their portfolio South Miami, FL 1,5541.6k $16.2k $16.2k 0.01% Unchanged
76 Financial Connections Group, Inc. 0.00% of their portfolio CORTE MADERA, CA 1,4271.4k $14.0k $14.0k 0.00% Added +9 +9
77 Millstone Evans Group, LLC 0.01% of their portfolio BOULDER, CO 1,4081.4k $14.6k $14.6k 0.01% New
78 Bank of New Hampshire 0.00% of their portfolio LACONIA, NH 1,1551.2k $12.0k $12.0k 0.00% Unchanged
79 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 953953 $9.9k $9.9k 0.00% Reduced -825 -825
80 BELLEVUE ASSET MANAGEMENT, LLC 0.00% of their portfolio BELLEVUE, WA 885885 $9.2k $9.2k 0.00% Added +6 +6
81 COMERICA BANK 0.00% of their portfolio DALLAS, TX 773773 $8.0k $8.0k 0.00% Added +153 +153
82 Orion Capital Management LLC 0.00% of their portfolio CORONADO, CA 568568 $5.9k $5.9k 0.00% Added +390 +390
83 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 359359 $3.7k $3.7k 0.00% New
84 Clarity Asset Management, Inc. 0.00% of their portfolio AMES, IA 286286 $3.0k $3.0k 0.00% Unchanged
85 Clean Yield Group 0.00% of their portfolio NORWICH, VT 148148 $1.5k $1.5k 0.00% Unchanged
86 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 22 $20 $20 0.00% Reduced -3.2k -3,215
87 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 00 $0 $0 0.00% New