Vault-13

PUTNAM ETF TRUST PVAL

FOCUSED LAR CAP · ETP · CUSIP 746729300

171 institutional holders +23 vs Q1 2025
71,751,39171.8m shares reported held*
$2.9bnreported value*
36 new 96 added 29 reduced 13 sold out net bought ≈ $701.5m (+17.4m 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 ≈ $40.24.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 12Q4 22: 21Q1 23: 23Q2 23: 21Q3 23: 27Q4 23: 35Q1 24: 39Q2 24: 64Q3 24: 97Q4 24: 118Q1 25: 148Q2 25: 171171Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202212
Q4 202221
Q1 202323
Q2 202321
Q3 202327
Q4 202335
Q1 202439
Q2 202464
Q3 202497
Q4 2024118
Q1 2025148
Q2 2025171

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 19 bought or addedQ3 23: 10 cut or sold outQ4 23: 23 bought or addedQ4 23: 11 cut or sold outQ4 23Q1 24: 29 bought or addedQ1 24: 14 cut or sold outQ2 24: 51 bought or addedQ2 24: 9 cut or sold outQ2 24Q3 24: 78 bought or addedQ3 24: 16 cut or sold outQ4 24: 92 bought or addedQ4 24: 23 cut or sold outQ4 24Q1 25: 117 bought or addedQ1 25: 23 cut or sold outQ2 25: 132 bought or addedQ2 25: 42 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231910
Q4 20232311
Q1 20242914
Q2 2024519
Q3 20247816
Q4 20249223
Q1 202511723
Q2 202513242

Biggest buyers

Cullen/Frost Bankers, Inc. New +2,482,578+2.5m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +1,841,717+1.8m
BANK OF AMERICA CORP /DE/ Added +1,669,903+1.7m
Cetera Investment Advisers Added +758,283+758.3k
ELEVATION POINT WEALTH PARTNERS, LLC New +751,791+751.8k
CWM, LLC Added +750,161+750.2k
UBS Group AG Added +606,589+606.6k
COMMONWEALTH EQUITY SERVICES, LLC Added +605,693+605.7k
Sanctuary Advisors, LLC Added +573,429+573.4k
Cambridge Investment Research Advisors, Inc. Added +489,737+489.7k

Biggest sellers

TRUIST FINANCIAL CORP Reduced -376,313-376.3k
HighTower Advisors, LLC Reduced -108,094-108.1k
Wealthspire Advisors, LLC Reduced -105,752-105.8k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -79,416-79.4k
Empire Life Investments Inc. Reduced -78,505-78.5k
Synergy Asset Management, LLC Sold out -53,538-53.5k
SILVERCREST ASSET MANAGEMENT GROUP LLC Reduced -51,275-51.3k
ERn Financial, LLC Reduced -46,106-46.1k
Tempus Wealth Planning, LLC Reduced -44,590-44.6k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -26,282-26.3k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 10,182,89510.2m $409.7m $409.7m 0.03% Added +1.7m +1,669,903
2 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 5,371,0985.4m $216.1m $216.1m 0.01% Added +339.2k +339,216
3 Glenmede Investment Management, LP 1.02% of their portfolio PHILADELPHIA, PA 4,997,3225.0m $201.0m $201.0m 1.02% First filing
4 UBS Group AG 0.04% of their portfolio ZURICH, V8 4,428,8694.4m $178.2m $178.2m 0.04% Added +606.6k +606,589
5 COMMONWEALTH EQUITY SERVICES, LLC 0.23% of their portfolio WALTHAM, MA 4,356,6444.4m $175.3m $175.3m 0.23% Added +605.7k +605,693
6 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.10% of their portfolio MILWAUKEE, WI 3,565,9043.6m $143.5m $143.5m 0.10% Added +1.8m +1,841,717
7 Cetera Investment Advisers 0.24% of their portfolio SCHAUMBURG, IL 3,552,5313.6m $142.9m $142.9m 0.24% Added +758.3k +758,283
8 CWM, LLC 0.37% of their portfolio OMAHA, NE 2,601,0822.6m $104.6m $104.6m 0.37% Added +750.2k +750,161
9 Cullen/Frost Bankers, Inc. 1.25% of their portfolio San Antonio, TX 2,482,5782.5m $99.9m $99.9m 1.25% New
10 STIFEL FINANCIAL CORP 0.08% of their portfolio ST. LOUIS, MO 2,053,1582.1m $82.6m $82.6m 0.08% Added +11.5k +11,501
11 Amplius Wealth Advisors, LLC 7.32% of their portfolio BLUE BELL, PA 1,955,5622.0m $78.7m $78.7m 7.32% Added +71.6k +71,604
12 Opal Wealth Advisors, LLC 16.54% of their portfolio JERICHO, NY 1,482,2531.5m $59.6m $59.6m 16.54% Added +52.7k +52,744
13 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 1,224,4311.2m $49.3m $49.3m 0.06% Reduced -108.1k -108,094
14 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 1,069,3971.1m $43.0m $43.0m 0.01% Added +25.2k +25,228
15 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.07% of their portfolio PLYMOUTH, MN 1,000,6621.0m $41.1m $41.1m 0.07% Reduced -79.4k -79,416
16 Allegheny Financial Group 8.82% of their portfolio Pittsburgh, PA 987,572987.6k $39.7m $39.7m 8.82% Added +476.0k +475,961
17 Sanctuary Advisors, LLC 0.24% of their portfolio INDIANAPOLIS, IN 951,876951.9k $38.3m $38.3m 0.24% Added +573.4k +573,429
18 Harbor Group, Inc. 5.66% of their portfolio BEDFORD, NH 793,759793.8k $31.9m $31.9m 5.66% Added +44.6k +44,606
19 Cambridge Investment Research Advisors, Inc. 0.09% of their portfolio FAIRFIELD, IA 769,846769.8k $31.0m $31.0m 0.09% Added +489.7k +489,737
20 ELEVATION POINT WEALTH PARTNERS, LLC 2.36% of their portfolio DENVER, CO 751,791751.8k $30.2m $30.2m 2.36% New
21 Geneos Wealth Management Inc. 0.70% of their portfolio ENGLEWOOD, CO 716,366716.4k $28.8m $28.8m 0.70% Added +404.9k +404,929
22 Modern Wealth Management, LLC 0.61% of their portfolio KANSAS CITY, MO 617,908617.9k $24.9m $24.9m 0.61% Added +106.4k +106,388
23 Arete Wealth Advisors, LLC 1.65% of their portfolio CHICAGO, IL 578,814578.8k $23.3m $23.3m 1.65% Added +183.5k +183,455
24 Capital Analysts, LLC 0.72% of their portfolio FORT WASHINGTON, PA 537,908537.9k $21.6m $21.6m 0.72% Added +286.9k +286,911
25 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 521,618521.6k $21.0m $21.0m 0.03% Added +439.4k +439,407
26 Sowa Financial Group, Inc. 13.05% of their portfolio LINCOLN, RI 519,537519.5k $20.9m $20.9m 13.05% Added +28.3k +28,336
27 AVANTAX ADVISORY SERVICES, INC. 0.11% of their portfolio DALLAS, TX 483,665483.7k $19.5m $19.5m 0.11% Added +258.6k +258,635
28 Kestra Advisory Services, LLC 0.09% of their portfolio AUSTIN, TX 476,794476.8k $19.2m $19.2m 0.09% Added +36.0k +35,980
29 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 465,400465.4k $18.7m $18.7m 0.03% New
30 Janney Montgomery Scott LLC 0.05% of their portfolio PHILADELPHIA, PA 428,069428.1k $17.2m $17.2m 0.05% Added +47.1k +47,057
31 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 405,707405.7k $16.3m $16.3m 0.00% Added +403.5k +403,497
32 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 396,394396.4k $15.9m $15.9m 0.03% New
33 AdvisorNet Financial, Inc 1.03% of their portfolio MINNETONKA, MN 396,117396.1k $15.9m $15.9m 1.03% Added +27.8k +27,817
34 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 385,950385.9k $15.5m $15.5m 0.03% New
35 SAX WEALTH ADVISORS, LLC 0.87% of their portfolio PARSIPPANY, NJ 360,157360.2k $14.5m $14.5m 0.87% Added +204.1k +204,071
36 Keystone Financial Services, LLC 10.43% of their portfolio OMAHA, NE 341,241341.2k $13.7m $13.7m 10.43% Added +15.7k +15,711
37 BAKER TILLY WEALTH MANAGEMENT, LLC 4.80% of their portfolio MADISON, WI 333,961334.0k $13.4m $13.4m 4.80% Added +49.8k +49,788
38 CENTRAL TRUST Co 0.30% of their portfolio JEFFERSON CITY, MO 321,055321.1k $12.9m $12.9m 0.30% Added +218.1k +218,134
39 MML INVESTORS SERVICES, LLC 0.04% of their portfolio SPRINGFIELD, MA 315,303315.3k $12.7m $12.7m 0.04% Added +295.9k +295,905
40 Weil Company, Inc. 3.07% of their portfolio SAN DIEGO, CA 289,306289.3k $11.6m $11.6m 3.07% New
41 BridgePort Financial Solutions, LLC 3.78% of their portfolio FAIRFIELD, IA 282,838282.8k $11.4m $11.4m 3.78% Added +84.4k +84,371
42 RFG Advisory, LLC 0.27% of their portfolio BIRMINGHAM, AL 280,726280.7k $11.3m $11.3m 0.27% New
43 Redhawk Wealth Advisors, Inc. 1.41% of their portfolio MINNEAPOLIS, MN 280,067280.1k $11.3m $11.3m 1.41% Added +13.2k +13,162
44 Embree Financial Group 1.68% of their portfolio Chicago, IL 277,002277.0k $11.1m $11.1m 1.68% Added +89.4k +89,394
45 Steward Partners Investment Advisory, LLC 0.09% of their portfolio STAMFORD, CT 274,544274.5k $11.0m $11.0m 0.09% Added +52.7k +52,734
46 IVC Wealth Advisors LLC 5.30% of their portfolio SILVERDALE, PA 270,420270.4k $10.9m $10.9m 5.30% Added +87.8k +87,824
47 Wealthspire Advisors, LLC 0.06% of their portfolio NEW YORK, NY 266,003266.0k $10.7m $10.7m 0.06% Reduced -105.8k -105,752
48 Atria Investments, Inc 0.11% of their portfolio Charlotte, NC 238,845238.8k $9.6m $9.6m 0.11% Added +99.7k +99,686
49 CASTLE WEALTH MANAGEMENT LLC 3.06% of their portfolio BOYNTON BEACH, FL 209,171209.2k $8.4m $8.4m 3.06% Added +73.3k +73,304
50 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 195,966196.0k $7.9m $7.9m 0.00% Added +122.5k +122,495
51 Haverford Trust Co 0.07% of their portfolio Radnor, PA 187,934187.9k $7.6m $7.6m 0.07% Added +11.8k +11,831
52 Coign Capital Advisors LLC 5.03% of their portfolio Draper, UT 184,622184.6k $7.4m $7.4m 5.03% Added +29.8k +29,794
53 StoneCrest Wealth Management, Inc. 3.49% of their portfolio CHANDLER, AZ 182,199182.2k $7.3m $7.3m 3.49% Added +3.0k +3,018
54 Able Wealth Management LLC 3.40% of their portfolio Toms River, NJ 167,451167.5k $6.7m $6.7m 3.40% Added +45.8k +45,841
55 Prosperity Financial Group, Inc. 2.78% of their portfolio San Ramon, CA 162,510162.5k $6.5m $6.5m 2.78% Added +12.4k +12,365
56 Foundry Financial Group, Inc. 3.64% of their portfolio LACONIA, NH 159,013159.0k $6.4m $6.4m 3.64% Added +4.6k +4,617
57 Cannon Wealth Management Services, LLC 5.21% of their portfolio WINSTON SALEM, NC 158,511158.5k $6.4m $6.4m 5.21% Added +9.8k +9,775
58 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 152,995153.0k $6.2m $6.2m 0.00% Added +14.4k +14,444
59 New England Private Wealth Advisors LLC 0.88% of their portfolio WELLESLEY, MA 147,290147.3k $6.0m $6.0m 0.88% Added +4.9k +4,870
60 OneDigital Investment Advisors LLC 0.06% of their portfolio OVERLAND PARK, KS 142,468142.5k $5.7m $5.7m 0.06% New
61 Integrated Advisors Network LLC 0.25% of their portfolio DALLAS, TX 139,675139.7k $5.6m $5.6m 0.25% Added +4.9k +4,858
62 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 136,530136.5k $5.5m $5.5m 0.00% Added +3.5k +3,534
63 ERn Financial, LLC 1.11% of their portfolio MIDDLETON, WI 130,888130.9k $5.3m $5.3m 1.11% Reduced -46.1k -46,106
64 Per Stirling Capital Management, LLC. 0.69% of their portfolio AUSTIN, TX 130,886130.9k $5.3m $5.3m 0.69% Added +4.0k +4,027
65 Empire Life Investments Inc. 0.32% of their portfolio Toronto, A6 126,625126.6k $5.1m $5.1m 0.32% Reduced -78.5k -78,505
66 J.W. COLE ADVISORS, INC. 0.09% of their portfolio TAMPA, FL 109,061109.1k $4.4m $4.4m 0.09% Added +26.7k +26,738
67 HARBOUR INVESTMENTS, INC. 0.11% of their portfolio MADISON, WI 107,854107.9k $4.3m $4.3m 0.11% Added +30.3k +30,267
68 Sovran Advisors, LLC 0.45% of their portfolio SAN DIEGO, CA 106,524106.5k $4.3m $4.3m 0.45% Reduced -20.4k -20,440
69 Midwest Capital Advisors, LLC 2.23% of their portfolio Grand Rapids, MI 104,984105.0k $4.2m $4.2m 2.23% Added +15.0k +14,992
70 M&T Bank Corp 0.01% of their portfolio BUFFALO, NY 96,95697.0k $3.9m $3.9m 0.01% New
71 MAI Capital Management 0.03% of their portfolio INDEPENDENCE, OH 94,60594.6k $3.8m $3.8m 0.03% Added +52.4k +52,418
72 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 94,47894.5k $3.8m $3.8m 0.00% Added +69.7k +69,678
73 Rollins Financial Advisors, LLC 0.61% of their portfolio ATLANTA, GA 94,38894.4k $3.8m $3.8m 0.61% Added +38.6k +38,605
74 KESTRA PRIVATE WEALTH SERVICES, LLC 0.05% of their portfolio AUSTIN, TX 94,18694.2k $3.8m $3.8m 0.05% Added +28.3k +28,324
75 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 93,45393.5k $3.8m $3.8m 0.01% Reduced -376.3k -376,313
76 Atria Wealth Solutions, Inc. 0.08% of their portfolio NEW YORK, NY 92,15192.2k $3.7m $3.7m 0.08% Added +1.7k +1,664
77 SeaCrest Wealth Management, LLC 0.40% of their portfolio PURCHASE, NY 90,90390.9k $3.7m $3.7m 0.40% Added +14.5k +14,548
78 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 81,23981.2k $3.3m $3.3m 0.01% Added +18.7k +18,740
79 Sigma Planning Corp 0.10% of their portfolio ANN ARBOR, MI 80,04180.0k $3.2m $3.2m 0.10% Added +8.8k +8,792
80 GGM Financial LLC 1.85% of their portfolio COLUMBUS, OH 79,00379.0k $3.2m $3.2m 1.85% Added +19.8k +19,778
81 Essex Financial Services, Inc. 0.20% of their portfolio ESSEX, CT 76,95677.0k $3.1m $3.1m 0.20% Added +14.0k +13,987
82 Horizon Family Wealth, Inc. 1.88% of their portfolio CHICAGO, IL 76,72376.7k $3.1m $3.1m 1.88% New
83 MOTCO 0.29% of their portfolio SAN ANTONIO, TX 75,23275.2k $3.1m $3.1m 0.29% New
84 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 71,77071.8k $2.9m $2.9m 0.00% Reduced -1.5k -1,508
85 IFP Advisors, Inc 0.08% of their portfolio TAMPA, FL 68,38068.4k $2.8m $2.8m 0.08% Added +46.8k +46,792
86 Tempus Wealth Planning, LLC 0.65% of their portfolio IRVINE, CA 64,93064.9k $2.6m $2.6m 0.65% Reduced -44.6k -44,590
87 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 64,60064.6k $2.6m $2.6m 0.00% New
88 Provident Wealth Management, LLC 0.80% of their portfolio BRENTWOOD, TN 60,60060.6k $2.4m $2.4m 0.80% Reduced -5.4k -5,414
89 Spire Wealth Management 0.09% of their portfolio MCLEAN, VA 59,14459.1k $2.4m $2.4m 0.09% Added +58.5k +58,494
90 Aurdan Capital Management, LLC 0.77% of their portfolio Wayne, PA 56,31456.3k $2.3m $2.3m 0.77% New
91 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 56,26256.3k $2.3m $2.3m 0.02% Reduced -50 -50
92 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 55,64255.6k $2.2m $2.2m 0.00% New
93 Merit Financial Group, LLC 0.02% of their portfolio ALPHARETTA, GA 51,24351.2k $2.1m $2.1m 0.02% Added +37.0k +36,958
94 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.01% of their portfolio NEW YORK, NY 50,95051.0k $2.0m $2.0m 0.01% Reduced -51.3k -51,275
95 Patriot Financial Group Insurance Agency, LLC 0.23% of their portfolio Westborough, MA 49,95050.0k $2.0m $2.0m 0.23% Reduced -3.9k -3,903
96 MGO ONE SEVEN LLC 0.06% of their portfolio Beachwood, OH 45,45845.5k $1.8m $1.8m 0.06% Added +12.1k +12,059
97 OLD MISSION CAPITAL LLC 0.05% of their portfolio CHICAGO, IL 42,30742.3k $1.7m $1.7m 0.05% New
98 Ballew Advisors, Inc 0.95% of their portfolio Jackson, MS 38,96939.0k $1.6m $1.6m 0.95% New
99 WealthCare Investment Partners, LLC 0.57% of their portfolio PORTSMOUTH, RI 38,92138.9k $1.6m $1.6m 0.57% Reduced -1.8k -1,761
100 StoneX Group Inc. 0.07% of their portfolio NEW YORK, NY 37,52337.5k $1.5m $1.5m 0.07% Added +1.5k +1,477