Vault-13

PUTNAM ETF TRUST PBDC

BDC INCOME ETF · ETP · CUSIP 746729508

44 institutional holders +3 vs Q2 2025
1,791,4131.8m shares reported held*
$57.0mreported value*
8 new 23 added 7 reduced 3 sold out net bought ≈ $8.0m (+250.3k 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 ≈ $31.80.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 3Q4 22: 5Q1 23: 6Q2 23: 5Q3 23: 12Q4 23: 19Q1 24: 26Q2 24: 23Q3 24: 29Q4 24: 37Q1 25: 41Q2 25: 41Q3 25: 4444Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 20223
Q4 20225
Q1 20236
Q2 20235
Q3 202312
Q4 202319
Q1 202426
Q2 202423
Q3 202429
Q4 202437
Q1 202541
Q2 202541
Q3 202544

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 23: 14 bought or addedQ4 23: 2 cut or sold outQ1 24: 23 bought or addedQ1 24: 6 cut or sold outQ1 24Q2 24: 18 bought or addedQ2 24: 10 cut or sold outQ3 24: 19 bought or addedQ3 24: 10 cut or sold outQ3 24Q4 24: 25 bought or addedQ4 24: 8 cut or sold outQ1 25: 26 bought or addedQ1 25: 14 cut or sold outQ1 25Q2 25: 27 bought or addedQ2 25: 11 cut or sold outQ3 25: 31 bought or addedQ3 25: 10 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023142
Q1 2024236
Q2 20241810
Q3 20241910
Q4 2024258
Q1 20252614
Q2 20252711
Q3 20253110

Biggest buyers

Cetera Investment Advisers Added +58,945+58.9k
COMMONWEALTH EQUITY SERVICES, LLC Added +57,471+57.5k
Haven Private, LLC New +52,087+52.1k
ROYAL BANK OF CANADA New +26,029+26.0k
Discipline Wealth Solutions, LLC New +19,051+19.1k
Pinion Investment Advisors, LLC New +18,809+18.8k
JANE STREET GROUP, LLC New +18,072+18.1k
RFG Advisory, LLC Added +17,057+17.1k
UBS Group AG Added +15,362+15.4k
Corient Private Wealth LP Added +8,498+8.5k

Biggest sellers

Cambridge Investment Research Advisors, Inc. Sold out -24,458-24.5k
RAYMOND JAMES FINANCIAL INC Reduced -23,889-23.9k
INDEPENDENT FINANCIAL GROUP, LLC Reduced -23,545-23.5k
GUIDANCE CAPITAL, INC Sold out -11,346-11.3k
Wealthcare Advisory Partners LLC Reduced -3,846-3.8k
Evolution Wealth Advisors, LLC Reduced -1,720-1.7k
Ameritas Advisory Services, LLC Sold out -850-850
CWM, LLC Reduced -713-713
Apollon Wealth Management, LLC Reduced -545-545
3EDGE Asset Management, LP Reduced -185-185

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CONDOR CAPITAL MANAGEMENT 0.43% of their portfolio MARTINSVILLE, NJ 165,458165.5k $5.3m $5.3m 0.43% Added +6.2k +6,217
2 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 164,517164.5k $5.2m $5.2m 0.00% Reduced -23.9k -23,889
3 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 159,933159.9k $5.1m $5.1m 0.01% Added +57.5k +57,471
4 Evolution Wealth Advisors, LLC 0.56% of their portfolio AVENTURA, FL 130,900130.9k $4.2m $4.2m 0.56% Reduced -1.7k -1,720
5 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 112,922112.9k $3.6m $3.6m 0.00% Added +58.9k +58,945
6 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 100,858100.9k $3.2m $3.2m 0.02% Added +4.4k +4,383
7 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 89,61389.6k $2.8m $2.8m 0.00% Added +8.5k +8,498
8 Stonebridge Financial Planning Group, LLC 1.05% of their portfolio ORLANDO, FL 88,29988.3k $2.8m $2.8m 1.05% Added +854 +854
9 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 82,53882.5k $2.6m $2.6m 0.00% Added +1.3k +1,320
10 NFSG Corp 0.28% of their portfolio BOCA RATON, FL 58,19958.2k $1.8m $1.8m 0.28% Added +503 +503
11 Prosperity Financial Group, Inc. 0.64% of their portfolio San Ramon, CA 55,01255.0k $1.7m $1.7m 0.64% Added +6.5k +6,482
12 Haven Private, LLC 0.73% of their portfolio ORLANDO, FL 52,08752.1k $1.7m $1.7m 0.73% New
13 RFG Advisory, LLC 0.03% of their portfolio BIRMINGHAM, AL 43,28843.3k $1.4m $1.4m 0.03% Added +17.1k +17,057
14 Apollon Wealth Management, LLC 0.02% of their portfolio MOUNT PLEASANT, SC 41,86841.9k $1.3m $1.3m 0.02% Reduced -545 -545
15 SMITH, MOORE & CO. 0.10% of their portfolio CLAYTON, MO 41,62041.6k $1.3m $1.3m 0.10% Added +1.3k +1,322
16 Wealthcare Advisory Partners LLC 0.03% of their portfolio WEST CHESTER, PA 38,60038.6k $1.2m $1.2m 0.03% Reduced -3.8k -3,846
17 3EDGE Asset Management, LP 0.06% of their portfolio Naples, FL 33,25033.2k $1.1m $1.1m 0.06% Reduced -185 -185
18 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 33,18733.2k $1.1m $1.1m 0.00% Added +6.7k +6,685
19 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 26,02926.0k $827.0k $827.0k 0.00% New
20 INDEPENDENT FINANCIAL GROUP, LLC 0.02% of their portfolio SAN DIEGO, CA 22,74922.7k $723.0k $723.0k 0.02% Reduced -23.5k -23,545
21 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 22,01322.0k $699.6k $699.6k 0.00% Added +4.8k +4,751
22 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 19,85619.9k $631.0k $631.0k 0.00% Unchanged
23 Allspring Global Investments Holdings, LLC 0.00% of their portfolio CHARLOTTE, NC 19,40019.4k $616.5k $616.5k 0.00% Added +1.0k +1,000
24 Discipline Wealth Solutions, LLC 0.16% of their portfolio GREENVILLE, SC 19,05119.1k $605.5k $605.5k 0.16% New
25 Pinion Investment Advisors, LLC 0.16% of their portfolio WICHITA, KS 18,80918.8k $576.7k $576.7k 0.16% New
26 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 18,07218.1k $574.3k $574.3k 0.00% New
27 UBS Group AG 0.00% of their portfolio ZURICH, V8 17,75117.8k $564.1k $564.1k 0.00% Added +15.4k +15,362
28 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 15,03615.0k $477.8k $477.8k 0.00% Unchanged
29 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 14,56114.6k $462.7k $462.7k 0.00% Added +1.1k +1,074
30 PRINCIPAL SECURITIES, INC. 0.01% of their portfolio DES MOINES, IA 13,69913.7k $435.4k $435.4k 0.01% Added +2.6k +2,636
31 J.W. COLE ADVISORS, INC. 0.01% of their portfolio TAMPA, FL 12,64912.6k $402.0k $402.0k 0.01% Added +405 +405
32 KESTRA PRIVATE WEALTH SERVICES, LLC 0.00% of their portfolio AUSTIN, TX 10,75810.8k $341.9k $341.9k 0.00% Added +595 +595
33 Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.03% of their portfolio CONCORD, MA 9,1289.1k $290.1k $290.1k 0.03% Added +1.5k +1,528
34 Advyzon Investment Management, LLC 0.05% of their portfolio LISLE, IL 8,8728.9k $281.9k $281.9k 0.05% Added +962 +962
35 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 8,4928.5k $269.9k $269.9k 0.00% New
36 CWM, LLC 0.00% of their portfolio OMAHA, NE 8,4508.4k $269.0k $269.0k 0.00% Reduced -713 -713
37 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 6,5006.5k $206.6k $206.6k 0.00% Unchanged
38 COMERICA BANK 0.00% of their portfolio DALLAS, TX 3,4003.4k $108.1k $108.1k 0.00% Unchanged
39 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 2,0002.0k $63.6k $63.6k 0.00% Unchanged
40 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 1,0521.1k $33.4k $33.4k 0.00% Unchanged
41 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 379379 $12.1k $12.1k 0.00% New
42 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 300300 $9.5k $9.5k 0.00% New
43 AMERIFLEX GROUP, INC. 0.00% of their portfolio LAS VEGAS, NV 250250 $7.9k $7.9k 0.00% Added +125 +125
44 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 88 $254 $254 0.00% Added +7 +7