Vault-13

NORTHERN LTS FD TR III QQH

HCM DEFND 100 · ETP · CUSIP 66538R748

53 institutional holders -1 vs Q4 2025
10,806,16510.8m shares reported held*
$585.9mreported value*
7 new 21 added 19 reduced 9 sold out net bought ≈ $16.2m (+217.0k 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 ($1.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $54.24.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 30Q4 22: 30Q1 23: 29Q2 23: 33Q3 23: 32Q4 23: 33Q1 24: 28Q2 24: 31Q3 24: 34Q4 24: 40Q1 25: 41Q2 25: 42Q3 25: 47Q4 25: 54Q1 26: 5353Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 202230
Q4 202230
Q1 202329
Q2 202333
Q3 202332
Q4 202333
Q1 202428
Q2 202431
Q3 202434
Q4 202440
Q1 202541
Q2 202542
Q3 202547
Q4 202554
Q1 202653

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 24: 15 bought or addedQ2 24: 14 cut or sold outQ3 24: 17 bought or addedQ3 24: 17 cut or sold outQ3 24Q4 24: 26 bought or addedQ4 24: 14 cut or sold outQ1 25: 22 bought or addedQ1 25: 20 cut or sold outQ1 25Q2 25: 19 bought or addedQ2 25: 23 cut or sold outQ3 25: 24 bought or addedQ3 25: 19 cut or sold outQ3 25Q4 25: 28 bought or addedQ4 25: 23 cut or sold outQ1 26: 28 bought or addedQ1 26: 28 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20241514
Q3 20241717
Q4 20242614
Q1 20252220
Q2 20251923
Q3 20252419
Q4 20252823
Q1 20262828

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2k$4k$6k$8kQ2 25 calls: $6.8kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$6.8k$00.00
Q3 2025$0$0—
Q4 2025$0$0—
Q1 2026$0$0—

Biggest buyers

Howard Capital Management, LLC Added +306,674+306.7k
Discipline Wealth Solutions, LLC Added +102,831+102.8k
GTS SECURITIES LLC Added +47,827+47.8k
ENVESTNET ASSET MANAGEMENT INC Added +32,113+32.1k
Lifestyle Asset Management, Inc. Added +29,622+29.6k
NewEdge Advisors, LLC Added +28,819+28.8k
WBI INVESTMENTS, LLC New +22,728+22.7k
Wealth Watch Advisors, INC Added +14,650+14.7k
Aegis Wealth Management, Inc. Added +12,731+12.7k
HRT FINANCIAL LP New +5,591+5.6k

Biggest sellers

Orion Porfolio Solutions, LLC Reduced -268,602-268.6k
LPL Financial LLC Reduced -22,803-22.8k
J.W. COLE ADVISORS, INC. Reduced -15,135-15.1k
Cambridge Investment Research Advisors, Inc. Reduced -14,948-14.9k
Parsonex Advisory Services, Inc. Sold out -13,683-13.7k
AXXCESS WEALTH MANAGEMENT, LLC Sold out -12,985-13.0k
HighPoint Advisor Group LLC Reduced -12,527-12.5k
CITADEL ADVISORS LLC Reduced -8,135-8.1k
OSAIC HOLDINGS, INC. Reduced -7,529-7.5k
Fiduciary Alliance LLC Reduced -4,946-4.9k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Howard Capital Management, LLC 5.00% of their portfolio Alpharetta, GA 6,797,3856.8m $305.8m $305.8m 5.00% Added +306.7k +306,674
2 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 635,692635.7k $44.4m $44.4m 0.01% Added +32.1k +32,113
3 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 494,994495.0k $34.6m $34.6m 0.04% Reduced -3.7k -3,676
4 Cambridge Investment Research Advisors, Inc. 0.08% of their portfolio FAIRFIELD, IA 426,406426.4k $29.8m $29.8m 0.08% Reduced -14.9k -14,948
5 Wealth Watch Advisors, INC 10.60% of their portfolio ENGLEWOOD, CO 362,022362.0k $25.3m $25.3m 10.60% Added +14.7k +14,650
6 J.W. COLE ADVISORS, INC. 0.63% of their portfolio TAMPA, FL 266,467266.5k $18.6m $18.6m 0.63% Reduced -15.1k -15,135
7 Orion Porfolio Solutions, LLC 0.16% of their portfolio OMAHA, NE 262,765262.8k $18.3m $18.3m 0.16% Reduced -268.6k -268,602
8 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 242,552242.6k $16.9m $16.9m 0.00% Reduced -22.8k -22,803
9 McKinney Capital Management, LLC 13.49% of their portfolio HOUSTON, TX 224,885224.9k $15.7m $15.7m 13.49% First filing
10 Aegis Wealth Management, Inc. 12.32% of their portfolio Guthrie Center, IA 224,538224.5k $15.7m $15.7m 12.32% Added +12.7k +12,731
11 Discipline Wealth Solutions, LLC 1.15% of their portfolio GREENVILLE, SC 156,159156.2k $10.9m $10.9m 1.15% Added +102.8k +102,831
12 Lifestyle Asset Management, Inc. 2.34% of their portfolio FRIENDSWOOD, TX 102,385102.4k $7.1m $7.1m 2.34% Added +29.6k +29,622
13 Optivise Advisory Services LLC 3.74% of their portfolio FRANKLIN, TN 88,46788.5k $6.2m $6.2m 3.74% Reduced -2.8k -2,845
14 GTS SECURITIES LLC 0.15% of their portfolio NEW YORK, NY 61,67761.7k $4.3m $4.3m 0.15% Added +47.8k +47,827
15 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 49,99550.0k $3.5m $3.5m 0.01% Added +28.8k +28,819
16 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 48,11948.1k $3.4m $3.4m 0.00% Reduced -1.3k -1,307
17 Simplicity Wealth,LLC 0.15% of their portfolio SUMMIT, NJ 37,75337.8k $2.6m $2.6m 0.15% Added +667 +667
18 HighPoint Advisor Group LLC 0.08% of their portfolio DOWNERS GROVE, IL 28,78528.8k $2.0m $2.0m 0.08% Reduced -12.5k -12,527
19 Delta Investment Management, LLC 0.30% of their portfolio SAN FRANCISCO, CA 24,40524.4k $1.7m $1.7m 0.30% Added +721 +721
20 Foundations Investment Advisors, LLC 0.02% of their portfolio PHOENIX, AZ 23,32323.3k $1.6m $1.6m 0.02% Reduced -350 -350
21 PANORAMIC INVESTMENT ADVISORS, LLC 0.87% of their portfolio DENVER, CO 23,02123.0k $1.6m $1.6m 0.87% Reduced -1.3k -1,277
22 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 22,96823.0k $1.6m $1.6m 0.03% Added +310 +310
23 WBI INVESTMENTS, LLC 0.44% of their portfolio RED BANK, NJ 22,72822.7k $1.6m $1.6m 0.44% New
24 Brookstone Capital Management 0.01% of their portfolio WHEATON, IL 18,25018.2k $1.3m $1.3m 0.01% Reduced -15 -15
25 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 17,31917.3k $1.2m $1.2m 0.00% Reduced -7.5k -7,529
26 Brooklyn Investment Group 0.03% of their portfolio NEW YORK, NY 15,65215.7k $1.1m $1.1m 0.03% Unchanged
27 J2 Capital Management Inc 0.72% of their portfolio TROY, MI 15,08915.1k $1.1m $1.1m 0.72% Reduced -586 -586
28 Tactive Advisors, LLC 0.28% of their portfolio Jacksonville, FL 14,45214.5k $1.0m $1.0m 0.28% Added +726 +726
29 Colonial River Investments, LLC 0.34% of their portfolio MIDLOTHIAN, VA 13,58613.6k $948.7k $948.7k 0.34% Added +678 +678
30 Fiduciary Alliance LLC 0.04% of their portfolio GREENVILLE, SC 9,1029.1k $672.3k $672.3k 0.04% Reduced -4.9k -4,946
31 Mariner, LLC 0.00% of their portfolio Overland Park, KS 8,1868.2k $571.6k $571.6k 0.00% Added +1.4k +1,381
32 MONEY CONCEPTS CAPITAL CORP 0.03% of their portfolio PALM BEACH GARDENS, FL 7,5907.6k $530.0k $530.0k 0.03% Added +40 +40
33 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 6,7946.8k $474.4k $474.4k 0.00% Unchanged
34 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 5,5915.6k $390.0k $390.0k 0.00% New
35 Atria Investments, Inc 0.00% of their portfolio Charlotte, NC 5,4425.4k $380.0k $380.0k 0.00% Added +1.6k +1,649
36 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 5,3845.4k $375.9k $375.9k 0.00% Added +9 +9
37 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 5,2715.3k $368.1k $368.1k 0.00% Reduced -8.1k -8,135
38 PRINCIPAL SECURITIES, INC. 0.01% of their portfolio DES MOINES, IA 5,1955.2k $362.7k $362.7k 0.01% Added +846 +846
39 VestGen Investment Management 0.20% of their portfolio EGG HARBOR TOWNSHIP, NJ 5,1685.2k $360.9k $360.9k 0.20% Reduced -72 -72
40 Bison Wealth, LLC 0.04% of their portfolio ATLANTA, GA 4,7464.7k $401.9k $401.9k 0.04% Added +890 +890
41 VestGen Advisors, LLC 0.01% of their portfolio CHICAGO, IL 4,7024.7k $392.3k $392.3k 0.01% New
42 ABSOLUTE CAPITAL MANAGEMENT, LLC 0.10% of their portfolio Pittsburgh, PA 4,3184.3k $301.5k $301.5k 0.10% Added +140 +140
43 GDS Wealth Management 0.02% of their portfolio FLOWER MOUND, TX 4,3094.3k $300.9k $300.9k 0.02% New
44 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 3,7893.8k $264.6k $264.6k 0.00% Unchanged
45 KEYBANK NATIONAL ASSOCIATION/OH 0.00% of their portfolio BROOKLYN, OH 3,5343.5k $246.8k $246.8k 0.00% New
46 INTEGRITY ALLIANCE, LLC. 0.01% of their portfolio Urbandale, IA 3,3733.4k $235.5k $235.5k 0.01% Reduced -439 -439
47 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 3,1593.2k $220.6k $220.6k 0.00% New
48 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 1,3001.3k $90.8k $90.8k 0.00% Unchanged
49 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 824824 $57.5k $57.5k 0.00% Added +1 +1
50 BROWN BROTHERS HARRIMAN & CO 0.00% of their portfolio NEW YORK, NY 813813 $56.8k $56.8k 0.00% New
51 UBS Group AG 0.00% of their portfolio ZURICH, V8 751751 $52.4k $52.4k 0.00% Reduced -682 -682
52 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 501501 $35.0k $35.0k 0.00% Reduced -1 -1
53 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 136136 $9.5k $9.5k 0.00% Unchanged