Vault-13

PROSHARES TR NOBL

S&P 500 DV ARIST · ETP · CUSIP 74348A467

768 institutional holders +7 vs Q2 2025
54,731,75954.7m shares reported held*
$5.6bnreported value*
46 new 244 added 336 reduced 31 sold out net sold ≈ $28.7m (-269.9k 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 ($5.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $103.06. Options: 2 managers hold calls ($4.0m notional), 2 hold puts ($1.2m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 571Q4 22: 633Q1 23: 639Q2 23: 648Q3 23: 649Q4 23: 712Q1 24: 714Q2 24: 722Q3 24: 748Q4 24: 798Q1 25: 772Q2 25: 761Q3 25: 768768Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022571
Q4 2022633
Q1 2023639
Q2 2023648
Q3 2023649
Q4 2023712
Q1 2024714
Q2 2024722
Q3 2024748
Q4 2024798
Q1 2025772
Q2 2025761
Q3 2025768

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 23: 304 bought or addedQ4 23: 297 cut or sold outQ1 24: 319 bought or addedQ1 24: 313 cut or sold outQ1 24Q2 24: 253 bought or addedQ2 24: 313 cut or sold outQ3 24: 315 bought or addedQ3 24: 321 cut or sold outQ3 24Q4 24: 355 bought or addedQ4 24: 293 cut or sold outQ1 25: 258 bought or addedQ1 25: 368 cut or sold outQ1 25Q2 25: 307 bought or addedQ2 25: 353 cut or sold outQ3 25: 290 bought or addedQ3 25: 367 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023304297
Q1 2024319313
Q2 2024253313
Q3 2024315321
Q4 2024355293
Q1 2025258368
Q2 2025307353
Q3 2025290367

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ4 24 calls: $3.8mQ4 24 puts: $826.3kQ4 24P/C 0.22Q1 25 calls: $4.7mQ1 25 puts: $4.8mQ1 25P/C 1.03Q2 25 calls: $4.4mQ2 25 puts: $4.5mQ2 25P/C 1.01Q3 25 calls: $4.0mQ3 25 puts: $1.2mQ3 25P/C 0.29
Numbers
QuarterCallsPutsP/C
Q4 2024$3.8m$826.3k0.22
Q1 2025$4.7m$4.8m1.03
Q2 2025$4.4m$4.5m1.01
Q3 2025$4.0m$1.2m0.29

Biggest buyers

Capitolis Liquid Global Markets LLC New +1,000,000+1.0m
MORGAN STANLEY Added +424,667+424.7k
Moran Wealth Management, LLC New +279,302+279.3k
Cetera Investment Advisers Added +268,753+268.8k
Sanctuary Advisors, LLC Added +245,123+245.1k
AQR CAPITAL MANAGEMENT LLC Added +127,837+127.8k
MERCER GLOBAL ADVISORS INC /ADV Added +105,429+105.4k
Cresset Asset Management, LLC Added +74,583+74.6k
Carrera Capital Advisors Added +41,445+41.4k
Integrated Advisors Network LLC Added +35,154+35.2k

Biggest sellers

ROYAL BANK OF CANADA Reduced -1,453,644-1.5m
Rockefeller Capital Management L.P. Reduced -279,851-279.9k
GOLDMAN SACHS GROUP INC Reduced -169,250-169.2k
WELLS FARGO & COMPANY/MN Reduced -116,789-116.8k
BNP PARIBAS FINANCIAL MARKETS Reduced -101,400-101.4k
RAYMOND JAMES FINANCIAL INC Reduced -89,705-89.7k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -88,544-88.5k
UBS Group AG Reduced -74,250-74.2k
D.A. DAVIDSON & CO. Reduced -73,828-73.8k
AMERIPRISE FINANCIAL INC Reduced -58,999-59.0k

Biggest calls

CITADEL ADVISORS LLC Added $2.4m23.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.6m15.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $742.1k7.2k shares
CITADEL ADVISORS LLC Added $422.6k4.1k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 11,214,79011.2m $1.2bn $1.2bn 0.07% Added +424.7k +424,667
2 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 4,667,0464.7m $481.0m $481.0m 0.04% Reduced -1.3k -1,288
3 LPL Financial LLC 0.10% of their portfolio FORT MILL, SC 3,205,7373.2m $330.4m $330.4m 0.10% Reduced -58.5k -58,490
4 UBS Group AG 0.04% of their portfolio ZURICH, V8 1,900,0711.9m $195.8m $195.8m 0.04% Reduced -74.2k -74,250
5 RAYMOND JAMES FINANCIAL INC 0.06% of their portfolio ST. PETERSBURG, FL 1,858,1181.9m $191.5m $191.5m 0.06% Reduced -89.7k -89,705
6 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 1,736,9941.7m $179.0m $179.0m 0.04% Reduced -116.8k -116,789
7 Cresset Asset Management, LLC 0.72% of their portfolio Chicago, IL 1,576,6501.6m $162.5m $162.5m 0.72% Added +74.6k +74,583
8 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,482,1441.5m $152.8m $152.8m 0.03% Reduced -1.5m -1,453,644
9 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 2.13% of their portfolio MINNEAPOLIS, MN 1,307,9231.3m $134.8m $134.8m 2.13% Added +15.4k +15,433
10 Capitolis Liquid Global Markets LLC 0.82% of their portfolio NEW YORK, NY 1,000,0001.0m $103.1m $103.1m 0.82% New
11 COMMONWEALTH EQUITY SERVICES, LLC 0.10% of their portfolio WALTHAM, MA 777,652777.7k $80.2m $80.2m 0.10% Reduced -88.5k -88,544
12 Cetera Investment Advisers 0.09% of their portfolio SCHAUMBURG, IL 763,834763.8k $78.7m $78.7m 0.09% Added +268.8k +268,753
13 IAM Advisory, LLC 15.60% of their portfolio EASTON, PA 673,207673.2k $69.4m $69.4m 15.60% Added +13.6k +13,634
14 ROCKLAND TRUST CO 2.82% of their portfolio HANOVER, MA 668,629668.6k $68.9m $68.9m 2.82% Added +3.9k +3,874
15 Cassaday & Co Wealth Management LLC 1.56% of their portfolio MCLEAN, VA 654,918654.9k $67.5m $67.5m 1.56% Reduced -6.2k -6,152
16 Sanctuary Advisors, LLC 0.18% of their portfolio INDIANAPOLIS, IN 580,663580.7k $59.6m $59.6m 0.18% Added +245.1k +245,123
17 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 569,018569.0k $58.6m $58.6m 0.01% Reduced -59.0k -58,999
18 Janney Montgomery Scott LLC 0.12% of their portfolio PHILADELPHIA, PA 495,212495.2k $51.0m $51.0m 0.12% Added +7.3k +7,310
19 OSAIC HOLDINGS, INC. 0.07% of their portfolio SCOTTSDALE, AZ 492,671492.7k $51.5m $51.5m 0.07% Added +7.3k +7,254
20 Wealthspire Advisors, LLC 0.26% of their portfolio NEW YORK, NY 485,744485.7k $50.1m $50.1m 0.26% Reduced -5.8k -5,799
21 Cambridge Investment Research Advisors, Inc. 0.13% of their portfolio FAIRFIELD, IA 471,414471.4k $48.6m $48.6m 0.13% Reduced -15.9k -15,921
22 IFG Advisory, LLC 1.70% of their portfolio ATLANTA, GA 362,548362.5k $37.4m $37.4m 1.70% Reduced -32.3k -32,266
23 Baird Financial Group, Inc. 0.06% of their portfolio MILWAUKEE, WI 355,133355.1k $36.6m $36.6m 0.06% Added +16.1k +16,078
24 Rockefeller Capital Management L.P. 0.07% of their portfolio NEW YORK, NY 343,387343.4k $35.4m $35.4m 0.07% Reduced -279.9k -279,851
25 Carrera Capital Advisors 6.13% of their portfolio TROY, MI 331,676331.7k $34.2m $34.2m 6.13% Added +41.4k +41,445
26 Cerity Partners LLC 0.05% of their portfolio NEW YORK, NY 314,691314.7k $32.4m $32.4m 0.05% Added +22.7k +22,683
27 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 298,800298.8k $30.8m $30.8m 0.02% Reduced -101.4k -101,400
28 NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio NEW YORK, NY 286,461286.5k $29.5m $29.5m 0.02% Reduced -13.8k -13,822
29 Moran Wealth Management, LLC 0.87% of their portfolio NAPLES, FL 279,302279.3k $28.8m $28.8m 0.87% New
30 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 261,287261.3k $26.9m $26.9m 0.02% Reduced -282 -282
31 Summit Financial Wealth Advisors, LLC 3.91% of their portfolio Lafayette, LA 245,326245.3k $25.3m $25.3m 3.91% Added +1.0k +1,036
32 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 230,126230.1k $23.7m $23.7m 0.01% Reduced -25.4k -25,447
33 ForthRight Wealth Management, LLC 6.57% of their portfolio ALPHARETTA, GA 219,341219.3k $22.6m $22.6m 6.57% Reduced -25.8k -25,791
34 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 212,086212.1k $21.9m $21.9m 0.03% Reduced -15.4k -15,355
35 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 208,354208.4k $21.5m $21.5m 0.00% Added +33.4k +33,421
36 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 207,958208.0k $21.3m $21.3m 0.01% Added +32.8k +32,782
37 Mirae Asset Global Investments Co., Ltd. 0.07% of their portfolio SEOUL, M5 202,139202.1k $20.8m $20.8m 0.07% Reduced -25.0k -24,960
38 TD Waterhouse Canada Inc. 0.13% of their portfolio TORONTO, A6 188,627188.6k $19.5m $19.5m 0.13% Added +80 +80
39 Pacific Wealth Strategies Group, Inc. 11.45% of their portfolio SANTA BARBARA, CA 181,097181.1k $18.7m $18.7m 11.45% Added +811 +811
40 HANTZ FINANCIAL SERVICES, INC. 0.28% of their portfolio SOUTHFIELD, MI 180,629180.6k $18.6m $18.6m 0.28% Reduced -9.4k -9,378
41 Landmark Wealth Management, LLC 7.21% of their portfolio MELVILLE, NY 176,153176.2k $18.2m $18.2m 7.21% Added +5.3k +5,327
42 &PARTNERS 0.12% of their portfolio NASHVILLE, TN 174,294174.3k $18.0m $18.0m 0.12% Reduced -3.6k -3,585
43 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 171,715171.7k $17.7m $17.7m 0.01% Added +15.7k +15,740
44 TOTH FINANCIAL ADVISORY CORP 1.90% of their portfolio LEESBURG, VA 170,530170.5k $17.6m $17.6m 1.90% Added +7.2k +7,222
45 Glen Eagle Advisors, LLC 2.40% of their portfolio KINGSTON, NJ 167,400167.4k $17.3m $17.3m 2.40% Reduced -45.2k -45,163
46 AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio Greenwich, CT 163,491163.5k $16.9m $16.9m 0.01% Added +127.8k +127,837
47 NewEdge Advisors, LLC 0.08% of their portfolio NEW ORLEANS, LA 162,109162.1k $16.7m $16.7m 0.08% Added +30.6k +30,585
48 Equitable Holdings, Inc. 0.12% of their portfolio NEW YORK, NY 157,103157.1k $16.2m $16.2m 0.12% Added +3.0k +2,997
49 FIRST MANHATTAN CO. LLC. 0.04% of their portfolio NEW YORK, NY 153,682153.7k $15.8m $15.8m 0.04% Added +219 +219
50 SMITH, MOORE & CO. 1.17% of their portfolio CLAYTON, MO 148,549148.5k $15.3m $15.3m 1.17% Reduced -1.9k -1,910
51 Private Advisor Group, LLC 0.07% of their portfolio MORRISTOWN, NJ 146,037146.0k $15.1m $15.1m 0.07% Reduced -12.8k -12,761
52 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 140,909140.9k $14.5m $14.5m 0.02% Added +4.0k +4,020
53 Galilei Investment Office LLP 6.64% of their portfolio LONDON, X0 134,140134.1k $13.8m $13.8m 6.64% Unchanged
54 Apexium Financial, LP 0.63% of their portfolio Dallas, TX 125,734125.7k $13.0m $13.0m 0.63% Reduced -7.2k -7,245
55 QUEST INVESTMENT MANAGEMENT LLC 1.33% of their portfolio LAKE OSWEGO, OR 122,780122.8k $12.7m $12.7m 1.33% Reduced -2.1k -2,141
56 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 119,502119.5k $12.3m $12.3m 0.02% Added +105.4k +105,429
57 McElhenny Sheffield Capital Management, LLC 2.88% of their portfolio DALLAS, TX 118,062118.1k $12.2m $12.2m 2.88% Added +2.2k +2,197
58 Waverly Advisors, LLC 0.12% of their portfolio BIRMINGHAM, AL 115,872115.9k $11.9m $11.9m 0.12% Reduced -6.0k -6,023
59 Essex Financial Services, Inc. 0.71% of their portfolio ESSEX, CT 115,568115.6k $11.9m $11.9m 0.71% Reduced -2.9k -2,877
60 COMERICA BANK 0.04% of their portfolio DALLAS, TX 115,191115.2k $11.9m $11.9m 0.04% Reduced -1.1k -1,120
61 Sanchez Wealth Management Group 2.59% of their portfolio JACKSONVILLE, FL 113,354113.4k $11.7m $11.7m 2.59% Added +1.9k +1,867
62 GTS SECURITIES LLC 0.44% of their portfolio NEW YORK, NY 110,396110.4k $11.4m $11.4m 0.44% Reduced -11.9k -11,929
63 Financial & Tax Architects, LLC 2.48% of their portfolio ST LOUIS, MO 109,004109.0k $11.2m $11.2m 2.48% Reduced -5.9k -5,900
64 CFS Investment Advisory Services, LLC 0.77% of their portfolio TOTOWA, NJ 100,284100.3k $10.4m $10.4m 0.77% Added +1.0k +1,010
65 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 100,040100.0k $10.3m $10.3m 0.00% Reduced -169.2k -169,250
66 Mariner, LLC 0.01% of their portfolio Overland Park, KS 99,46599.5k $10.3m $10.3m 0.01% Added +1.2k +1,164
67 FAGAN ASSOCIATES, INC. 1.39% of their portfolio TROY, NY 97,96598.0k $10.1m $10.1m 1.39% Added +1.3k +1,261
68 NorthCrest Asset Manangement, LLC 0.24% of their portfolio PLYMOUTH, MN 95,67595.7k $9.9m $9.9m 0.24% Added +3.5k +3,460
69 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 95,50395.5k $9.8m $9.8m 0.01% Reduced -30.2k -30,249
70 Coston, McIsaac & Partners 2.28% of their portfolio BAR HARBOR, ME 92,99093.0k $9.6m $9.6m 2.28% Added +275 +275
71 SMITH SHELLNUT WILSON LLC /ADV 3.67% of their portfolio Ridgeland, MS 92,79992.8k $9.6m $9.6m 3.67% Reduced -3.5k -3,504
72 Gunma Bank,Ltd. 2.79% of their portfolio GUNMA, M0 86,42586.4k $8.9m $8.9m 2.79% Added +17.0k +17,028
73 MYCIO WEALTH PARTNERS, LLC 2.04% of their portfolio PHILADELPHIA, PA 85,56085.6k $8.8m $8.8m 2.04% Reduced -91 -91
74 Legacy Private Trust Co. 0.52% of their portfolio NEENAH, WI 84,94384.9k $8.8m $8.8m 0.52% Reduced -6.2k -6,199
75 Kraft, Davis & Associates, LLC 2.12% of their portfolio St. Louis, MO 84,25784.3k $8.7m $8.7m 2.12% Added +483 +483
76 Prism Advisors, Inc. 2.33% of their portfolio STUDIO CITY, CA 83,81483.8k $8.6m $8.6m 2.33% Reduced -375 -375
77 Joseph P. Lucia & Associates, LLC 3.14% of their portfolio Yorktown Heights, NY 80,71980.7k $8.3m $8.3m 3.14% Reduced -585 -585
78 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 80,46480.5k $8.3m $8.3m 0.01% Reduced -7.2k -7,239
79 J.W. COLE ADVISORS, INC. 0.16% of their portfolio TAMPA, FL 80,22380.2k $8.3m $8.3m 0.16% Reduced -174 -174
80 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 79,15079.2k $8.2m $8.2m 0.01% Reduced -1.8k -1,756
81 D.A. DAVIDSON & CO. 0.05% of their portfolio GREAT FALLS, MT 79,08779.1k $8.2m $8.2m 0.05% Reduced -73.8k -73,828
82 OPPENHEIMER & CO INC 0.10% of their portfolio NEW YORK, NY 77,34477.3k $8.0m $8.0m 0.10% Added +2.4k +2,422
83 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 73,88373.9k $7.6m $7.6m 0.01% Reduced -9.5k -9,491
84 Brookstone Capital Management 0.09% of their portfolio WHEATON, IL 73,13973.1k $7.5m $7.5m 0.09% Reduced -4.7k -4,734
85 LMG Wealth Partners, LLC 1.40% of their portfolio SHREVEPORT, LA 73,11473.1k $7.5m $7.5m 1.40% Added +1.8k +1,811
86 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 73,00573.0k $7.5m $7.5m 0.01% Reduced -1.5k -1,547
87 Summit Financial, LLC 0.11% of their portfolio PARSIPPANY, NJ 72,71572.7k $7.5m $7.5m 0.11% Added +2.0k +1,956
88 BENJAMIN EDWARDS INC 0.08% of their portfolio Clayton, MO 72,30072.3k $7.5m $7.5m 0.08% Reduced -567 -567
89 Centurion Wealth Management LLC 1.70% of their portfolio Mclean, VA 72,05172.1k $7.4m $7.4m 1.70% Added +3.7k +3,723
90 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 71,12371.1k $7.3m $7.3m 0.02% Reduced -1.9k -1,892
91 TRANSCEND CAPITAL ADVISORS, LLC 0.52% of their portfolio MADISON, NJ 71,11171.1k $7.3m $7.3m 0.52% Reduced -2.6k -2,622
92 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 69,78869.8k $7.2m $7.2m 0.01% Reduced -8.2k -8,171
93 PRING TURNER CAPITAL GROUP INC 4.37% of their portfolio ALAMO, CA 69,39369.4k $7.2m $7.2m 4.37% Reduced -3.3k -3,262
94 Allred Capital Management, LLC 2.46% of their portfolio Dallas, TX 68,62868.6k $7.1m $7.1m 2.46% Reduced -5.5k -5,479
95 Tradition Wealth Management, LLC 0.52% of their portfolio EDINA, MN 68,15268.2k $7.0m $7.0m 0.52% Reduced -1.1k -1,061
96 Integrated Advisors Network LLC 0.29% of their portfolio DALLAS, TX 67,95868.0k $7.0m $7.0m 0.29% Added +35.2k +35,154
97 Foundations Investment Advisors, LLC 0.10% of their portfolio PHOENIX, AZ 64,92864.9k $6.7m $6.7m 0.10% Added +4.6k +4,565
98 Goldstone Financial Group, LLC 0.79% of their portfolio OAKBROOK TERRACE, IL 64,52564.5k $6.7m $6.7m 0.79% Added +3.4k +3,370
99 Ted Buchan & Co 2.58% of their portfolio San Diego, CA 63,98964.0k $6.6m $6.6m 2.58% Reduced -10.0k -10,048
100 Cypress Capital, LLC 1.89% of their portfolio FRANKLIN, TN 63,93363.9k $6.6m $6.6m 1.89% Reduced -4.2k -4,192