Vault-13

PROSHARES TR NOBL

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

820 institutional holders +52 vs Q3 2025
50,900,51850.9m shares reported held*
$5.3bnreported value*
60 new 254 added 303 reduced 49 sold out net sold ≈ $438.2m (-4.2m 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 ($17.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $104.08. Options: 2 managers hold calls ($3.7m notional), 1 hold puts ($1.1m).

Trends to Q4 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: 768Q4 25: 820820Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025820

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 24: 319 bought or addedQ1 24: 313 cut or sold outQ2 24: 253 bought or addedQ2 24: 313 cut or sold outQ2 24Q3 24: 315 bought or addedQ3 24: 321 cut or sold outQ4 24: 355 bought or addedQ4 24: 293 cut or sold outQ4 24Q1 25: 258 bought or addedQ1 25: 368 cut or sold outQ2 25: 307 bought or addedQ2 25: 353 cut or sold outQ2 25Q3 25: 290 bought or addedQ3 25: 367 cut or sold outQ4 25: 314 bought or addedQ4 25: 352 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024319313
Q2 2024253313
Q3 2024315321
Q4 2024355293
Q1 2025258368
Q2 2025307353
Q3 2025290367
Q4 2025314352

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ1 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 0.29Q4 25 calls: $3.7mQ4 25 puts: $1.1mQ4 25P/C 0.30
Numbers
QuarterCallsPutsP/C
Q1 2025$4.7m$4.8m1.03
Q2 2025$4.4m$4.5m1.01
Q3 2025$4.0m$1.2m0.29
Q4 2025$3.7m$1.1m0.30

Biggest buyers

SILVERCREST ASSET MANAGEMENT GROUP LLC New +258,167+258.2k
WELLS FARGO & COMPANY/MN Added +164,781+164.8k
UNITED CAPITAL FINANCIAL ADVISORS, LLC New +125,178+125.2k
ELEVATION POINT WEALTH PARTNERS, LLC Added +91,093+91.1k
Vestmark Advisory Solutions, Inc. Added +90,113+90.1k
Prasad Wealth Partners, LLC New +82,898+82.9k
Cresset Asset Management, LLC Added +50,686+50.7k
MRWM Advisors, LLC Added +49,595+49.6k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +38,046+38.0k
Kingdom Financial Group LLC. New +37,768+37.8k

Biggest sellers

MORGAN STANLEY Reduced -1,566,850-1.6m
Capitolis Liquid Global Markets LLC Sold out -1,000,000-1.0m
Sanctuary Advisors, LLC Reduced -323,371-323.4k
IAM Advisory, LLC Reduced -286,540-286.5k
Moran Wealth Management, LLC Sold out -279,302-279.3k
BNP PARIBAS FINANCIAL MARKETS Reduced -248,790-248.8k
Cerity Partners LLC Reduced -176,862-176.9k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -155,964-156.0k
FIRST MANHATTAN CO. LLC. Sold out -153,682-153.7k
Cetera Investment Advisers Reduced -117,571-117.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.3m21.9k shares
CITADEL ADVISORS LLC Reduced $1.4m13.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.1m10.6k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 9,647,9409.6m $1.0bn $1.0bn 0.06% Reduced -1.6m -1,566,850
2 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 4,656,7194.7m $484.6m $484.6m 0.04% Reduced -10.3k -10,327
3 LPL Financial LLC 0.09% of their portfolio FORT MILL, SC 3,116,6503.1m $324.3m $324.3m 0.09% Reduced -89.1k -89,087
4 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 1,901,7751.9m $197.9m $197.9m 0.04% Added +164.8k +164,781
5 RAYMOND JAMES FINANCIAL INC 0.06% of their portfolio ST. PETERSBURG, FL 1,860,7141.9m $193.6m $193.6m 0.06% Added +2.6k +2,596
6 UBS Group AG 0.04% of their portfolio ZURICH, V8 1,788,0251.8m $186.1m $186.1m 0.04% Reduced -112.0k -112,046
7 Cresset Asset Management, LLC 0.72% of their portfolio Chicago, IL 1,627,3361.6m $169.4m $169.4m 0.72% Added +50.7k +50,686
8 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,434,6851.4m $149.3m $149.3m 0.03% Reduced -47.5k -47,459
9 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 2.07% of their portfolio MINNEAPOLIS, MN 1,316,8531.3m $137.0m $137.0m 2.07% Added +8.9k +8,930
10 ROCKLAND TRUST CO 2.88% of their portfolio HANOVER, MA 702,651702.7k $73.1m $73.1m 2.88% Added +34.0k +34,022
11 Cassaday & Co Wealth Management LLC 1.43% of their portfolio MCLEAN, VA 650,323650.3k $67.7m $67.7m 1.43% Reduced -4.6k -4,595
12 Cetera Investment Advisers 0.07% of their portfolio SCHAUMBURG, IL 646,263646.3k $67.3m $67.3m 0.07% Reduced -117.6k -117,571
13 COMMONWEALTH EQUITY SERVICES, LLC 0.09% of their portfolio WALTHAM, MA 621,688621.7k $64.7m $64.7m 0.09% Reduced -156.0k -155,964
14 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 532,576532.6k $55.4m $55.4m 0.01% Reduced -36.4k -36,442
15 Wealthspire Advisors, LLC 0.39% of their portfolio NEW YORK, NY 475,968476.0k $49.5m $49.5m 0.39% Reduced -9.8k -9,776
16 Cambridge Investment Research Advisors, Inc. 0.13% of their portfolio FAIRFIELD, IA 465,086465.1k $48.4m $48.4m 0.13% Reduced -6.3k -6,328
17 OSAIC HOLDINGS, INC. 0.07% of their portfolio SCOTTSDALE, AZ 464,752464.8k $48.4m $48.4m 0.07% Reduced -27.9k -27,919
18 Janney Montgomery Scott LLC 0.11% of their portfolio PHILADELPHIA, PA 447,559447.6k $46.6m $46.6m 0.11% Reduced -47.7k -47,653
19 IAM Advisory, LLC 8.94% of their portfolio EASTON, PA 386,667386.7k $40.2m $40.2m 8.94% Reduced -286.5k -286,540
20 Rockefeller Capital Management L.P. 0.07% of their portfolio NEW YORK, NY 357,659357.7k $37.2m $37.2m 0.07% Added +14.3k +14,272
21 IFG Advisory, LLC 1.58% of their portfolio ATLANTA, GA 348,757348.8k $36.3m $36.3m 1.58% Reduced -13.8k -13,791
22 Carrera Capital Advisors 5.84% of their portfolio TROY, MI 333,532333.5k $34.7m $34.7m 5.84% Added +1.9k +1,856
23 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 318,945318.9k $33.2m $33.2m 0.05% Reduced -36.2k -36,188
24 NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio NEW YORK, NY 278,448278.4k $29.0m $29.0m 0.02% Reduced -8.0k -8,013
25 Summit Financial Wealth Advisors, LLC 3.86% of their portfolio Lafayette, LA 258,826258.8k $26.9m $26.9m 3.86% Added +13.5k +13,500
26 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.18% of their portfolio NEW YORK, NY 258,167258.2k $26.9m $26.9m 0.18% New
27 Sanctuary Advisors, LLC 0.15% of their portfolio INDIANAPOLIS, IN 257,292257.3k $26.8m $26.8m 0.15% Reduced -323.4k -323,371
28 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 254,068254.1k $26.4m $26.4m 0.02% Reduced -7.2k -7,219
29 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 233,264233.3k $24.3m $24.3m 0.01% Added +25.3k +25,306
30 Pacific Wealth Strategies Group, Inc. 11.23% of their portfolio SANTA BARBARA, CA 190,579190.6k $19.8m $19.8m 11.23% Added +9.5k +9,482
31 ForthRight Wealth Management, LLC 5.56% of their portfolio ALPHARETTA, GA 185,880185.9k $19.3m $19.3m 5.56% Reduced -33.5k -33,461
32 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 185,017185.0k $19.3m $19.3m 0.01% Reduced -45.1k -45,109
33 TD Waterhouse Canada Inc. 0.12% of their portfolio TORONTO, A6 181,631181.6k $18.9m $18.9m 0.12% Reduced -7.0k -6,996
34 TOTH FINANCIAL ADVISORY CORP 1.99% of their portfolio LEESBURG, VA 176,053176.1k $18.3m $18.3m 1.99% Added +5.5k +5,523
35 AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio Greenwich, CT 168,494168.5k $17.5m $17.5m 0.01% Added +5.0k +5,003
36 HANTZ FINANCIAL SERVICES, INC. 0.25% of their portfolio SOUTHFIELD, MI 164,672164.7k $17.1m $17.1m 0.25% Reduced -16.0k -15,957
37 Mirae Asset Global Investments Co., Ltd. 0.05% of their portfolio SEOUL, M5 163,629163.6k $17.0m $17.0m 0.05% Reduced -38.5k -38,510
38 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 162,072162.1k $16.9m $16.9m 0.02% Reduced -50.0k -50,014
39 Glen Eagle Advisors, LLC 2.28% of their portfolio KINGSTON, NJ 160,790160.8k $16.7m $16.7m 2.28% Reduced -6.6k -6,610
40 Landmark Wealth Management, LLC 6.40% of their portfolio MELVILLE, NY 160,623160.6k $16.7m $16.7m 6.40% Reduced -15.5k -15,530
41 Equitable Holdings, Inc. 0.11% of their portfolio NEW YORK, NY 155,082155.1k $16.1m $16.1m 0.11% Reduced -2.0k -2,021
42 &PARTNERS 0.08% of their portfolio NASHVILLE, TN 153,977154.0k $16.0m $16.0m 0.08% Reduced -20.3k -20,317
43 NewEdge Advisors, LLC 0.06% of their portfolio NEW ORLEANS, LA 152,875152.9k $15.9m $15.9m 0.06% Reduced -9.2k -9,234
44 SMITH, MOORE & CO. 1.17% of their portfolio CLAYTON, MO 148,623148.6k $15.5m $15.5m 1.17% Added +74 +74
45 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 146,318146.3k $15.2m $15.2m 0.02% Added +5.4k +5,409
46 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 137,829137.8k $14.3m $14.3m 0.02% Reduced -176.9k -176,862
47 Private Advisor Group, LLC 0.07% of their portfolio MORRISTOWN, NJ 136,123136.1k $14.2m $14.2m 0.07% Reduced -9.9k -9,914
48 Waverly Advisors, LLC 0.11% of their portfolio BIRMINGHAM, AL 134,890134.9k $14.0m $14.0m 0.11% Added +19.0k +19,018
49 Galilei Investment Office LLP 6.58% of their portfolio LONDON, X0 134,140134.1k $14.0m $14.0m 6.58% Unchanged
50 QUEST INVESTMENT MANAGEMENT LLC 1.46% of their portfolio LAKE OSWEGO, OR 130,305130.3k $13.6m $13.6m 1.46% Added +7.5k +7,525
51 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 128,918128.9k $13.4m $13.4m 0.01% Reduced -42.8k -42,797
52 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.08% of their portfolio IRVING, TX 125,178125.2k $13.0m $13.0m 0.08% New
53 ELEVATION POINT WEALTH PARTNERS, LLC 0.62% of their portfolio DENVER, CO 124,305124.3k $12.9m $12.9m 0.62% Added +91.1k +91,093
54 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 123,230123.2k $11.9m $11.9m 0.02% Added +3.7k +3,728
55 Vestmark Advisory Solutions, Inc. 0.17% of their portfolio Wakefield, MA 122,166122.2k $12.7m $12.7m 0.17% Added +90.1k +90,113
56 McElhenny Sheffield Capital Management, LLC 2.99% of their portfolio DALLAS, TX 118,107118.1k $12.3m $12.3m 2.99% Added +45 +45
57 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 115,128115.1k $12.0m $12.0m 0.00% Reduced -93.2k -93,226
58 Essex Financial Services, Inc. 0.67% of their portfolio ESSEX, CT 112,733112.7k $11.7m $11.7m 0.67% Reduced -2.8k -2,835
59 COMERICA BANK 0.05% of their portfolio DALLAS, TX 110,121110.1k $11.5m $11.5m 0.05% Reduced -5.1k -5,070
60 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 106,088106.1k $10.3m $10.3m 0.01% Added +36.3k +36,300
61 Cordoba Advisory Partners LLC 2.66% of their portfolio NEW YORK, NY 103,456103.5k $10.8m $10.8m 2.66% First filing
62 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 100,307100.3k $10.4m $10.4m 0.00% Added +267 +267
63 Mariner, LLC 0.01% of their portfolio Overland Park, KS 100,231100.2k $10.4m $10.4m 0.01% Added +766 +766
64 Carroll Advisory Group, LLC 4.49% of their portfolio TEXARKANA, TX 99,63299.6k $10.4m $10.4m 4.49% First filing
65 CFS Investment Advisory Services, LLC 0.76% of their portfolio TOTOWA, NJ 99,60899.6k $10.4m $10.4m 0.76% Reduced -676 -676
66 NorthCrest Asset Manangement, LLC 0.23% of their portfolio PLYMOUTH, MN 99,48199.5k $10.5m $10.5m 0.23% Added +3.8k +3,806
67 FAGAN ASSOCIATES, INC. 1.34% of their portfolio TROY, NY 96,33196.3k $10.0m $10.0m 1.34% Reduced -1.6k -1,634
68 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 93,03193.0k $9.7m $9.7m 0.01% Reduced -2.5k -2,472
69 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 92,03992.0k $9.6m $9.6m 0.01% Added +11.6k +11,575
70 SMITH SHELLNUT WILSON LLC /ADV 3.63% of their portfolio Ridgeland, MS 90,86590.9k $9.5m $9.5m 3.63% Reduced -1.9k -1,934
71 Coston, McIsaac & Partners 2.19% of their portfolio BAR HARBOR, ME 90,48390.5k $9.4m $9.4m 2.19% Reduced -2.5k -2,507
72 OPPENHEIMER & CO INC 0.13% of their portfolio NEW YORK, NY 90,00890.0k $9.4m $9.4m 0.13% Added +12.7k +12,664
73 Cypress Capital, LLC 2.61% of their portfolio FRANKLIN, TN 89,72689.7k $9.3m $9.3m 2.61% Added +25.8k +25,793
74 Financial & Tax Architects, LLC 2.07% of their portfolio ST LOUIS, MO 88,67388.7k $9.2m $9.2m 2.07% Reduced -20.3k -20,331
75 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 87,87487.9k $9.5m $9.5m 0.01% Added +8.7k +8,724
76 MYCIO WEALTH PARTNERS, LLC 1.85% of their portfolio PHILADELPHIA, PA 86,02486.0k $9.0m $9.0m 1.85% Added +464 +464
77 Prasad Wealth Partners, LLC 2.30% of their portfolio INDEPENDENCE, OH 82,89882.9k $8.6m $8.6m 2.30% New
78 Kraft, Davis & Associates, LLC 1.92% of their portfolio St. Louis, MO 79,29379.3k $8.6m $8.6m 1.92% Reduced -5.0k -4,964
79 Joseph P. Lucia & Associates, LLC 2.96% of their portfolio Yorktown Heights, NY 78,96179.0k $8.2m $8.2m 2.96% Reduced -1.8k -1,758
80 LMG Wealth Partners, LLC 1.53% of their portfolio SHREVEPORT, LA 78,84978.8k $8.2m $8.2m 1.53% Added +5.7k +5,735
81 Foundations Investment Advisors, LLC 0.11% of their portfolio PHOENIX, AZ 77,38177.4k $8.1m $8.1m 0.11% Added +12.5k +12,453
82 Legacy Private Trust Co. 0.47% of their portfolio NEENAH, WI 76,31876.3k $7.9m $7.9m 0.47% Reduced -8.6k -8,625
83 Centurion Wealth Management LLC 1.71% of their portfolio Mclean, VA 74,85474.9k $7.8m $7.8m 1.71% Added +2.8k +2,803
84 MRWM Advisors, LLC 4.17% of their portfolio NASHVILLE, TN 74,68474.7k $7.8m $7.8m 4.17% Added +49.6k +49,595
85 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 74,66474.7k $7.8m $7.8m 0.02% Added +3.5k +3,541
86 D.A. DAVIDSON & CO. 0.05% of their portfolio GREAT FALLS, MT 74,48074.5k $7.8m $7.8m 0.05% Reduced -4.6k -4,607
87 Summit Financial, LLC 0.11% of their portfolio PARSIPPANY, NJ 74,45074.5k $7.7m $7.7m 0.11% Added +1.7k +1,735
88 Brookstone Capital Management 0.09% of their portfolio WHEATON, IL 74,24174.2k $7.7m $7.7m 0.09% Added +1.1k +1,102
89 J.W. COLE ADVISORS, INC. 0.17% of their portfolio TAMPA, FL 73,94173.9k $6.9m $6.9m 0.17% Reduced -6.3k -6,282
90 PRING TURNER CAPITAL GROUP INC 4.73% of their portfolio ALAMO, CA 73,49173.5k $7.6m $7.6m 4.73% Added +4.1k +4,098
91 Marble Wealth, LLC 1.05% of their portfolio MONTGOMERY, AL 72,74772.7k $7.6m $7.6m 1.05% First filing
92 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 72,46372.5k $7.5m $7.5m 0.01% Reduced -542 -542
93 TRANSCEND CAPITAL ADVISORS, LLC 0.57% of their portfolio MADISON, NJ 70,62270.6k $7.3m $7.3m 0.57% Reduced -489 -489
94 BENJAMIN EDWARDS INC 0.08% of their portfolio Clayton, MO 69,15369.2k $7.2m $7.2m 0.08% Reduced -3.1k -3,147
95 Tradition Wealth Management, LLC 0.51% of their portfolio EDINA, MN 68,27268.3k $7.1m $7.1m 0.51% Added +120 +120
96 Valtrion Capital Management, LLC 7.06% of their portfolio FRANKLIN, TN 68,05968.1k $7.1m $7.1m 7.06% Added +8.6k +8,615
97 Benchmark Financial, LLC 7.03% of their portfolio WILMINGTON, DE 67,81167.8k $7.1m $7.1m 7.03% First filing
98 Ted Buchan & Co 2.58% of their portfolio San Diego, CA 67,41967.4k $7.0m $7.0m 2.58% Added +3.4k +3,430
99 Goldstone Financial Group, LLC 0.77% of their portfolio OAKBROOK TERRACE, IL 66,61466.6k $6.9m $6.9m 0.77% Added +2.1k +2,089
100 Allred Capital Management, LLC 2.45% of their portfolio Dallas, TX 65,10465.1k $6.8m $6.8m 2.45% Reduced -3.5k -3,524