Vault-13

NORTHERN LTS FD TR III CPAI

COUN QUA EQU ETF · ETP · CUSIP 66538R540

33 institutional holders +5 vs Q4 2025
4,013,6304.0m shares reported held*
$168.8mreported value*
8 new 22 added 3 reduced 3 sold out net bought ≈ $54.5m (+1.3m 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. Holder counts are more reliable. Implied quarter-end price ≈ $42.05.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

02040Q4 23: 4Q1 24: 7Q2 24: 9Q3 24: 7Q4 24: 7Q1 25: 13Q2 25: 19Q3 25: 21Q4 25: 28Q1 26: 3333Q4 23Q2 24Q4 24Q2 25Q4 25Q1 26
Numbers
QuarterHolders
Q4 20234
Q1 20247
Q2 20249
Q3 20247
Q4 20247
Q1 202513
Q2 202519
Q3 202521
Q4 202528
Q1 202633

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 24: 7 bought or addedQ2 24: 1 cut or sold outQ3 24: 3 bought or addedQ3 24: 4 cut or sold outQ3 24Q4 24: 6 bought or addedQ4 24: 2 cut or sold outQ1 25: 12 bought or addedQ1 25: 2 cut or sold outQ1 25Q2 25: 17 bought or addedQ2 25: 3 cut or sold outQ3 25: 17 bought or addedQ3 25: 3 cut or sold outQ3 25Q4 25: 24 bought or addedQ4 25: 4 cut or sold outQ1 26: 30 bought or addedQ1 26: 6 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202471
Q3 202434
Q4 202462
Q1 2025122
Q2 2025173
Q3 2025173
Q4 2025244
Q1 2026306

Biggest buyers

RAYMOND JAMES FINANCIAL INC Added +263,515+263.5k
Nilsine Partners, LLC Added +166,311+166.3k
LPL Financial LLC Added +153,327+153.3k
INSIGNEO ADVISORY SERVICES, LLC Added +152,077+152.1k
U.S. Capital Wealth Advisors, LLC Added +152,065+152.1k
Counterpoint Mutual Funds LLC Added +78,500+78.5k
Inscription Capital, LLC Added +62,100+62.1k
Cetera Investment Advisers Added +42,559+42.6k
STIFEL FINANCIAL CORP New +30,971+31.0k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC New +25,550+25.6k

Biggest sellers

COMMONWEALTH EQUITY SERVICES, LLC Sold out -7,128-7.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -5,706-5.7k
ENVESTNET ASSET MANAGEMENT INC Reduced -3,299-3.3k
Equitable Holdings, Inc. Reduced -2,096-2.1k
Stirlingshire Investments, Inc. Reduced -1,750-1.8k
Kestra Advisory Services, LLC Sold out -762-762

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Counterpoint Mutual Funds LLC 9.72% of their portfolio San Diego, CA 1,549,6161.5m $64.8m $64.8m 9.72% Added +78.5k +78,500
2 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 377,612377.6k $15.8m $15.8m 0.00% Added +263.5k +263,515
3 U.S. Capital Wealth Advisors, LLC 0.38% of their portfolio AUSTIN, TX 361,772361.8k $15.1m $15.1m 0.38% Added +152.1k +152,065
4 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 252,158252.2k $10.5m $10.5m 0.00% Added +153.3k +153,327
5 Nilsine Partners, LLC 0.80% of their portfolio GREENWOOD VILLAGE, CO 221,622221.6k $10.3m $10.3m 0.80% Added +166.3k +166,311
6 INSIGNEO ADVISORY SERVICES, LLC 0.62% of their portfolio MIAMI, FL 209,367209.4k $8.7m $8.7m 0.62% Added +152.1k +152,077
7 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 123,168123.2k $5.1m $5.1m 0.01% Added +7.3k +7,329
8 INDEPENDENT FINANCIAL GROUP, LLC 0.11% of their portfolio SAN DIEGO, CA 120,431120.4k $5.0m $5.0m 0.11% Added +14.8k +14,802
9 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 107,891107.9k $4.5m $4.5m 0.00% Added +42.6k +42,559
10 Inscription Capital, LLC 0.44% of their portfolio HOUSTON, TX 99,64299.6k $4.2m $4.2m 0.44% Added +62.1k +62,100
11 Concurrent Investment Advisors, LLC 0.04% of their portfolio Tampa, FL 93,21393.2k $3.9m $3.9m 0.04% Added +13.9k +13,945
12 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 92,26792.3k $3.9m $3.9m 0.02% Added +10.6k +10,605
13 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 45,52445.5k $1.9m $1.9m 0.01% Reduced -2.1k -2,096
14 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 44,19644.2k $1.8m $1.8m 0.00% Added +24.3k +24,338
15 Outlook Wealth Advisors, LLC 0.44% of their portfolio SHENANDOAH, TX 43,53443.5k $1.8m $1.8m 0.44% Added +23.5k +23,489
16 Mariner, LLC 0.00% of their portfolio Overland Park, KS 34,81834.8k $1.5m $1.5m 0.00% Added +14.7k +14,705
17 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 33,65933.7k $1.4m $1.4m 0.01% Added +8.5k +8,541
18 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 30,97131.0k $1.3m $1.3m 0.00% New
19 Sunbelt Securities, Inc. 0.07% of their portfolio HOUSTON, TX 25,68225.7k $1.1m $1.1m 0.07% Added +12.0k +12,022
20 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 25,55025.6k $1.1m $1.1m 0.00% New
21 Accurate Wealth Management, LLC 0.11% of their portfolio WESLEY CHAPEL, FL 21,77421.8k $933.7k $933.7k 0.11% Added +13.7k +13,657
22 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 16,19816.2k $676.9k $676.9k 0.00% New
23 Kovack Advisors, Inc. 0.03% of their portfolio FT. LAUDERDALE, FL 14,68914.7k $618.2k $618.2k 0.03% Added +5.8k +5,754
24 Stirlingshire Investments, Inc. 0.43% of their portfolio NEW YORK, NY 11,67311.7k $487.8k $487.8k 0.43% Reduced -1.8k -1,750
25 Hilltop Holdings Inc. 0.04% of their portfolio DALLAS, TX 10,97511.0k $458.6k $458.6k 0.04% New
26 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 9,1629.2k $382.9k $382.9k 0.00% Reduced -3.3k -3,299
27 Jacobi Capital Management LLC 0.02% of their portfolio PITTSTON, PA 8,4998.5k $355.2k $355.2k 0.02% Added +2.6k +2,599
28 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 7,4157.4k $299.6k $299.6k 0.00% Added +313 +313
29 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 6,6666.7k $278.6k $278.6k 0.00% New
30 E&G Advisors, LLC 0.05% of their portfolio HOUSTON, TX 5,1005.1k $213.1k $213.1k 0.05% New
31 PUREfi Wealth, LLC 0.14% of their portfolio BOSTON, MA 5,0005.0k $208.9k $208.9k 0.14% New
32 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 2,0552.1k $85.9k $85.9k 0.00% Added +1.1k +1,149
33 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 1,7311.7k $72.3k $72.3k 0.00% New