Vault-13

PUTNAM ETF TRUST PVAL

FOCUSED LAR CAP · ETP · CUSIP 746729300

315 institutional holders +54 vs Q4 2025
160,853,552160.9m shares reported held*
$7.4bnreported value*
75 new 180 added 37 reduced 21 sold out net bought ≈ $1.5bn (+33.2m 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 ($496.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $46.31.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 12Q4 22: 21Q1 23: 23Q2 23: 21Q3 23: 27Q4 23: 35Q1 24: 39Q2 24: 64Q3 24: 97Q4 24: 118Q1 25: 148Q2 25: 171Q3 25: 201Q4 25: 261Q1 26: 315315Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025201
Q4 2025261
Q1 2026315

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 24: 51 bought or addedQ2 24: 9 cut or sold outQ3 24: 78 bought or addedQ3 24: 16 cut or sold outQ3 24Q4 24: 92 bought or addedQ4 24: 23 cut or sold outQ1 25: 117 bought or addedQ1 25: 23 cut or sold outQ1 25Q2 25: 132 bought or addedQ2 25: 42 cut or sold outQ3 25: 159 bought or addedQ3 25: 39 cut or sold outQ3 25Q4 25: 211 bought or addedQ4 25: 32 cut or sold outQ1 26: 255 bought or addedQ1 26: 58 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024519
Q3 20247816
Q4 20249223
Q1 202511723
Q2 202513242
Q3 202515939
Q4 202521132
Q1 202625558

Calls vs puts

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

CallsPuts
$0$50k$100k$150k$200kQ2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $194.5kQ3 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$0$0—
Q3 2025$0$194.5k—
Q4 2025$0$0—
Q1 2026$0$0—

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +11,707,304+11.7m
MORGAN STANLEY Added +4,551,431+4.6m
COMMONWEALTH EQUITY SERVICES, LLC Added +1,537,708+1.5m
Cetera Investment Advisers Added +1,483,240+1.5m
WELLS FARGO & COMPANY/MN Added +1,157,700+1.2m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +887,417+887.4k
Cullen/Frost Bankers, Inc. Added +870,989+871.0k
GLENMEDE TRUST CO NA Added +734,798+734.8k
ENVESTNET ASSET MANAGEMENT INC Added +579,995+580.0k
UBS Group AG Added +553,938+553.9k

Biggest sellers

Corient Private Wealth LP Reduced -948,029-948.0k
Thrivent Financial for Lutherans Sold out -772,511-772.5k
Janney Montgomery Scott LLC Sold out -742,130-742.1k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -313,936-313.9k
PRUDENTIAL PLC Sold out -195,200-195.2k
Diversify Advisory Services, LLC Sold out -170,008-170.0k
J.W. COLE ADVISORS, INC. Sold out -144,709-144.7k
Cooper Financial Group Reduced -91,995-92.0k
Amplius Wealth Advisors, LLC Reduced -61,307-61.3k
AXXCESS WEALTH MANAGEMENT, LLC Sold out -31,604-31.6k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.12% of their portfolio CHARLOTTE, NC 35,914,62935.9m $1.7bn $1.7bn 0.12% Added +11.7m +11,707,304
2 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 14,118,16114.1m $655.1m $655.1m 0.04% Added +4.6m +4,551,431
3 Cetera Investment Advisers 0.41% of their portfolio SCHAUMBURG, IL 8,337,1558.3m $386.8m $386.8m 0.41% Added +1.5m +1,483,240
4 Cullen/Frost Bankers, Inc. 4.07% of their portfolio San Antonio, TX 7,723,8447.7m $358.4m $358.4m 4.07% Added +871.0k +870,989
5 GLENMEDE TRUST CO NA 1.63% of their portfolio PHILADELPHIA, PA 7,154,2857.2m $332.0m $332.0m 1.63% Added +734.8k +734,798
6 COMMONWEALTH EQUITY SERVICES, LLC 0.43% of their portfolio WALTHAM, MA 6,662,3486.7m $309.1m $309.1m 0.43% Added +1.5m +1,537,708
7 UBS Group AG 0.05% of their portfolio ZURICH, V8 5,591,3725.6m $259.4m $259.4m 0.05% Added +553.9k +553,938
8 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.16% of their portfolio MILWAUKEE, WI 5,490,9945.5m $254.8m $254.8m 0.16% Added +887.4k +887,417
9 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 4,638,6264.6m $215.2m $215.2m 0.06% Added +580.0k +579,995
10 CWM, LLC 0.41% of their portfolio OMAHA, NE 3,343,1543.3m $155.1m $155.1m 0.41% Added +93.5k +93,526
11 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 2,688,5772.7m $124.7m $124.7m 0.02% Added +1.2m +1,157,700
12 Modern Wealth Management, LLC 1.84% of their portfolio KANSAS CITY, MO 2,304,8072.3m $107.3m $107.3m 1.84% Added +319.6k +319,556
13 STIFEL FINANCIAL CORP 0.10% of their portfolio ST. LOUIS, MO 2,297,5812.3m $106.6m $106.6m 0.10% Added +139.2k +139,189
14 Allegheny Financial Group 14.27% of their portfolio Pittsburgh, PA 2,281,8752.3m $105.9m $105.9m 14.27% Added +299.7k +299,733
15 Amplius Wealth Advisors, LLC 7.65% of their portfolio BLUE BELL, PA 1,978,4562.0m $91.8m $91.8m 7.65% Reduced -61.3k -61,307
16 Cambridge Investment Research Advisors, Inc. 0.22% of their portfolio FAIRFIELD, IA 1,860,5871.9m $86.3m $86.3m 0.22% Added +289.4k +289,362
17 Opal Wealth Advisors, LLC 16.45% of their portfolio JERICHO, NY 1,568,6371.6m $72.8m $72.8m 16.45% Added +29.1k +29,146
18 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 1,312,6531.3m $60.9m $60.9m 0.06% Added +83.8k +83,799
19 Kestra Advisory Services, LLC 0.23% of their portfolio AUSTIN, TX 1,307,9341.3m $60.7m $60.7m 0.23% Added +353.5k +353,534
20 Corient Private Wealth LP 0.08% of their portfolio MIAMI, FL 1,252,4421.3m $58.1m $58.1m 0.08% Reduced -948.0k -948,029
21 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,247,6901.2m $57.9m $57.9m 0.02% Added +471.6k +471,610
22 Sanctuary Advisors, LLC 0.30% of their portfolio INDIANAPOLIS, IN 1,183,8841.2m $54.9m $54.9m 0.30% Added +188.6k +188,615
23 Capital Analysts, LLC 1.33% of their portfolio FORT WASHINGTON, PA 1,090,3361.1m $50.6m $50.6m 1.33% Added +152.9k +152,860
24 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 1,037,4581.0m $47.3m $47.3m 0.02% Added +536.8k +536,825
25 Bleakley Financial Group, LLC 0.75% of their portfolio PARSIPPANY, NJ 1,029,5201.0m $47.8m $47.8m 0.75% Added +250.5k +250,484
26 Wealthspire Advisors, LLC 0.36% of their portfolio NEW YORK, NY 975,073975.1k $45.2m $45.2m 0.36% Added +144.9k +144,886
27 AUCTUS ADVISORS LLC 41.80% of their portfolio CHARLOTTE, NC 949,617949.6k $44.1m $44.1m 41.80% Reduced -6.9k -6,905
28 Drake & Associates, LLC 7.91% of their portfolio WAUKESHA, WI 894,065894.1k $41.5m $41.5m 7.91% Added +98.2k +98,214
29 RFG Advisory, LLC 0.75% of their portfolio BIRMINGHAM, AL 880,823880.8k $40.9m $40.9m 0.75% Added +121.6k +121,618
30 Harbor Group, Inc. 5.77% of their portfolio BEDFORD, NH 860,780860.8k $39.9m $39.9m 5.77% Added +12.5k +12,509
31 Geneos Wealth Management Inc. 0.92% of their portfolio ENGLEWOOD, CO 850,637850.6k $39.5m $39.5m 0.92% Added +23.9k +23,856
32 Embree Financial Group 4.18% of their portfolio Chicago, IL 764,982765.0k $35.5m $35.5m 4.18% Added +158.0k +158,046
33 HANCOCK WHITNEY CORP 0.65% of their portfolio GULFPORT, MS 760,468760.5k $37.6m $37.6m 0.65% Added +90.4k +90,378
34 Arete Wealth Advisors, LLC 2.44% of their portfolio CHICAGO, IL 701,242701.2k $32.5m $32.5m 2.44% Added +82.4k +82,438
35 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.07% of their portfolio PLYMOUTH, MN 699,896699.9k $32.6m $32.6m 0.07% Reduced -313.9k -313,936
36 SAX WEALTH ADVISORS, LLC 1.51% of their portfolio PARSIPPANY, NJ 682,631682.6k $31.1m $31.1m 1.51% Reduced -3.4k -3,400
37 Rockefeller Capital Management L.P. 0.05% of their portfolio NEW YORK, NY 642,679642.7k $29.8m $29.8m 0.05% Added +91.1k +91,070
38 MML INVESTORS SERVICES, LLC 0.08% of their portfolio SPRINGFIELD, MA 628,489628.5k $29.2m $29.2m 0.08% Reduced -3.2k -3,236
39 OneDigital Investment Advisors LLC 0.26% of their portfolio OVERLAND PARK, KS 572,416572.4k $26.6m $26.6m 0.26% Added +81.7k +81,650
40 AdvisorNet Financial, Inc 1.36% of their portfolio MINNETONKA, MN 564,219564.2k $26.2m $26.2m 1.36% Added +36.0k +36,044
41 Sowa Financial Group, Inc. 12.92% of their portfolio LINCOLN, RI 561,792561.8k $26.1m $26.1m 12.92% Reduced -9.2k -9,223
42 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 550,935550.9k $25.6m $25.6m 0.03% Added +103.0k +103,022
43 Steward Partners Investment Advisory, LLC 0.12% of their portfolio STAMFORD, CT 518,073518.1k $24.0m $24.0m 0.12% Added +155.6k +155,553
44 BAKER TILLY WEALTH MANAGEMENT, LLC 5.82% of their portfolio MADISON, WI 515,765515.8k $23.9m $23.9m 5.82% Added +55.7k +55,691
45 Baird Financial Group, Inc. 0.04% of their portfolio MILWAUKEE, WI 492,201492.2k $22.8m $22.8m 0.04% Added +54.9k +54,886
46 Piedmont Capital Management, LLC 11.59% of their portfolio WHITEFISH, MT 486,775486.8k $22.8m $22.8m 11.59% New
47 Towneley Capital Management, Inc / DE 4.20% of their portfolio LAGUNA HILLS, CA 432,937432.9k $20.1m $20.1m 4.20% Added +3.7k +3,666
48 Aurdan Capital Management, LLC 6.01% of their portfolio Wayne, PA 431,563431.6k $20.0m $20.0m 6.01% Added +62.4k +62,421
49 M&T Bank Corp 0.07% of their portfolio BUFFALO, NY 418,153418.2k $19.4m $19.4m 0.07% Added +16.8k +16,774
50 Frontier Asset Management, LLC 4.01% of their portfolio SHERIDAN, WY 412,164412.2k $19.1m $19.1m 4.01% Added +141.4k +141,428
51 Retirement Management Systems Inc. 4.60% of their portfolio STEVENSVILLE, MD 411,588411.6k $19.1m $19.1m 4.60% Added +119.7k +119,679
52 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 405,747405.7k $18.8m $18.8m 0.03% Added +308.3k +308,280
53 SILVER OAK SECURITIES, INCORPORATED 1.37% of their portfolio JACKSON, TN 404,335404.3k $18.8m $18.8m 1.37% Added +6.7k +6,686
54 Elequin Capital, LP 0.32% of their portfolio NEW YORK, NY 401,086401.1k $3.5m $3.5m 0.32% New
55 Dogwood Wealth Management LLC 7.94% of their portfolio LENEXA, KS 394,076394.1k $18.3m $18.3m 7.94% Added +24.4k +24,377
56 Weil Company, Inc. 4.10% of their portfolio SAN DIEGO, CA 393,850393.9k $18.3m $18.3m 4.10% Added +35.4k +35,404
57 Atria Investments, Inc 0.20% of their portfolio Charlotte, NC 392,789392.8k $18.2m $18.2m 0.20% Added +164.5k +164,503
58 BridgePort Financial Solutions, LLC 4.97% of their portfolio FAIRFIELD, IA 378,033378.0k $17.5m $17.5m 4.97% Added +20.8k +20,761
59 Redhawk Wealth Advisors, Inc. 1.92% of their portfolio MINNEAPOLIS, MN 375,296375.3k $17.4m $17.4m 1.92% Added +75.1k +75,112
60 MAI Capital Management 0.10% of their portfolio INDEPENDENCE, OH 375,022375.0k $17.4m $17.4m 0.10% Added +142.8k +142,792
61 Keystone Financial Services, LLC 11.59% of their portfolio OMAHA, NE 371,324371.3k $17.2m $17.2m 11.59% Added +15.9k +15,924
62 Able Wealth Management LLC 4.37% of their portfolio Toms River, NJ 352,075352.1k $16.3m $16.3m 4.37% Added +83.3k +83,264
63 Snowden Capital Advisors LLC 0.43% of their portfolio New York, NY 350,034350.0k $16.2m $16.2m 0.43% Added +6.0k +5,955
64 Marks Group Wealth Management, Inc 1.56% of their portfolio MINNETONKA, MN 349,180349.2k $16.2m $16.2m 1.56% Added +327.5k +327,485
65 Bucket List Wealth Management, LLC 9.65% of their portfolio The Villages, FL 345,536345.5k $16.0m $16.0m 9.65% New
66 Haverford Trust Co 0.14% of their portfolio Radnor, PA 336,129336.1k $15.6m $15.6m 0.14% Added +26.0k +26,027
67 Cooper Financial Group 1.57% of their portfolio IRVINE, CA 335,527335.5k $15.6m $15.6m 1.57% Reduced -92.0k -91,995
68 IVC Wealth Advisors LLC 6.47% of their portfolio SILVERDALE, PA 321,032321.0k $14.9m $14.9m 6.47% Added +9.2k +9,200
69 CENTRAL TRUST Co 0.28% of their portfolio JEFFERSON CITY, MO 302,609302.6k $14.0m $14.0m 0.28% Reduced -7.4k -7,357
70 Colonial River Investments, LLC 4.98% of their portfolio MIDLOTHIAN, VA 299,500299.5k $13.9m $13.9m 4.98% New
71 KESTRA PRIVATE WEALTH SERVICES, LLC 0.17% of their portfolio AUSTIN, TX 294,122294.1k $13.6m $13.6m 0.17% Added +125.2k +125,210
72 Coign Capital Advisors LLC 7.03% of their portfolio Draper, UT 288,490288.5k $13.4m $13.4m 7.03% Added +6.3k +6,321
73 Valmark Advisers, Inc. 0.16% of their portfolio AKRON, OH 288,428288.4k $13.4m $13.4m 0.16% Added +183.0k +182,954
74 Brookstone Capital Management 0.15% of their portfolio WHEATON, IL 279,343279.3k $13.0m $13.0m 0.15% New
75 Stratos Investment Management, LLC 0.51% of their portfolio BEACHWOOD, OH 272,146272.1k $12.6m $12.6m 0.51% Added +95.3k +95,325
76 Smartleaf Asset Management LLC 0.44% of their portfolio BOSTON, MA 265,281265.3k $12.1m $12.1m 0.44% Reduced -7.7k -7,662
77 Qube Research & Technologies Ltd 0.02% of their portfolio LONDON, X0 257,572257.6k $12.0m $12.0m 0.02% Added +190.5k +190,512
78 Rollins Financial Advisors, LLC 1.88% of their portfolio ATLANTA, GA 255,954256.0k $11.9m $11.9m 1.88% Added +46.3k +46,259
79 Trademark Financial Management, LLC 5.55% of their portfolio Bloomington, MN 244,265244.3k $11.3m $11.3m 5.55% Added +44.7k +44,659
80 Patriot Financial Group Insurance Agency, LLC 0.64% of their portfolio Westborough, MA 243,866243.9k $11.3m $11.3m 0.64% Added +113.6k +113,578
81 HARBOUR INVESTMENTS, INC. 0.17% of their portfolio MADISON, WI 241,417241.4k $11.2m $11.2m 0.17% Added +69.3k +69,347
82 FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.06% of their portfolio Cincinnati, OH 238,567238.6k $11.1m $11.1m 0.06% New
83 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 230,997231.0k $10.7m $10.7m 0.01% Added +27.3k +27,318
84 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 228,189228.2k $10.4m $10.4m 0.00% Added +67.9k +67,924
85 Integrated Advisors Network LLC 0.55% of their portfolio DALLAS, TX 226,160226.2k $10.5m $10.5m 0.55% Reduced -5.1k -5,111
86 CASTLE WEALTH MANAGEMENT LLC 3.35% of their portfolio BOYNTON BEACH, FL 222,590222.6k $10.3m $10.3m 3.35% Added +7.7k +7,660
87 CENTAURUS FINANCIAL, INC. 0.49% of their portfolio ANAHEIM, CA 220,389220.4k $10.2m $10.2m 0.49% New
88 MGO ONE SEVEN LLC 0.20% of their portfolio Beachwood, OH 217,567217.6k $10.1m $10.1m 0.20% Added +126.0k +125,986
89 Merit Financial Group, LLC 0.07% of their portfolio ALPHARETTA, GA 215,034215.0k $10.0m $10.0m 0.07% Added +100.0k +99,978
90 Key Client Fiduciary Advisors, LLC 3.30% of their portfolio Fairfield, NJ 207,134207.1k $9.6m $9.6m 3.30% Added +72.3k +72,336
91 StoneCrest Wealth Management, Inc. 4.02% of their portfolio CHANDLER, AZ 204,914204.9k $9.5m $9.5m 4.02% Added +1.4k +1,440
92 Visionary Wealth Advisors 0.40% of their portfolio O'FALLON, IL 195,878195.9k $9.1m $9.1m 0.40% Added +1.8k +1,754
93 ROBINSON SMITH WEALTH ADVISORS LLC 5.93% of their portfolio South Portland, ME 188,877188.9k $8.8m $8.8m 5.93% Added +135.2k +135,187
94 U.S. Capital Wealth Advisors, LLC 0.22% of their portfolio AUSTIN, TX 185,593185.6k $8.6m $8.6m 0.22% Added +18.2k +18,172
95 Horizon Family Wealth, Inc. 4.53% of their portfolio CHICAGO, IL 184,663184.7k $8.6m $8.6m 4.53% Added +93.3k +93,268
96 DIVERSIFY WEALTH MANAGEMENT, LLC 0.16% of their portfolio SANDY, UT 183,588183.6k $8.9m $8.9m 0.16% New
97 Green Ridge Wealth Planning LLC 4.33% of their portfolio MONTVILLE, NJ 177,483177.5k $8.2m $8.2m 4.33% New
98 Tower Wealth Partners, Inc. 4.51% of their portfolio LEWISBURG, PA 175,757175.8k $8.2m $8.2m 4.51% Added +108.8k +108,803
99 Foundry Financial Group, Inc. 3.84% of their portfolio LACONIA, NH 166,953167.0k $7.7m $7.7m 3.84% Added +2.3k +2,260
100 Midwest Capital Advisors, LLC 3.57% of their portfolio Grand Rapids, MI 164,664164.7k $7.6m $7.6m 3.57% Added +35.5k +35,478