Vault-13

RBB FD INC TBIL

US TREAS 3 MNTH · ETP · CUSIP 74933W452

306 institutional holders +20 vs Q3 2025
56,540,53256.5m shares reported held*
$2.8bnreported value*
31 new 131 added 95 reduced 23 sold out net bought ≈ $226.9m (+4.5m 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 ≈ $49.86.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 14Q4 22: 35Q1 23: 58Q2 23: 92Q3 23: 140Q4 23: 155Q1 24: 181Q2 24: 198Q3 24: 221Q4 24: 249Q1 25: 269Q2 25: 277Q3 25: 286Q4 25: 306306Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202214
Q4 202235
Q1 202358
Q2 202392
Q3 2023140
Q4 2023155
Q1 2024181
Q2 2024198
Q3 2024221
Q4 2024249
Q1 2025269
Q2 2025277
Q3 2025286
Q4 2025306

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 115 bought or addedQ1 24: 73 cut or sold outQ2 24: 126 bought or addedQ2 24: 78 cut or sold outQ2 24Q3 24: 147 bought or addedQ3 24: 87 cut or sold outQ4 24: 132 bought or addedQ4 24: 103 cut or sold outQ4 24Q1 25: 170 bought or addedQ1 25: 107 cut or sold outQ2 25: 153 bought or addedQ2 25: 131 cut or sold outQ2 25Q3 25: 150 bought or addedQ3 25: 131 cut or sold outQ4 25: 162 bought or addedQ4 25: 118 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202411573
Q2 202412678
Q3 202414787
Q4 2024132103
Q1 2025170107
Q2 2025153131
Q3 2025150131
Q4 2025162118

Biggest buyers

MORGAN STANLEY Added +1,035,768+1.0m
AQR CAPITAL MANAGEMENT LLC Added +700,916+700.9k
Mariner, LLC Added +556,797+556.8k
MML INVESTORS SERVICES, LLC Added +491,167+491.2k
Mirae Asset Global Investments Co., Ltd. Added +453,000+453.0k
WELLS FARGO & COMPANY/MN Added +433,029+433.0k
LPL Financial LLC Added +238,360+238.4k
Baird Financial Group, Inc. New +190,010+190.0k
Obermeyer Wealth Partners Added +186,777+186.8k
RAYMOND JAMES FINANCIAL INC Added +153,945+153.9k

Biggest sellers

Strong Tower Advisory Services Sold out -342,799-342.8k
JPMORGAN CHASE & CO Reduced -317,620-317.6k
Integrated Wealth Concepts LLC Reduced -312,686-312.7k
Tower Research Capital LLC (TRC) Sold out -217,126-217.1k
SCOTIA CAPITAL INC. Reduced -131,790-131.8k
Wealthstar Advisors, LLC Reduced -129,169-129.2k
49 WEALTH MANAGEMENT, LLC Reduced -94,306-94.3k
Family Office Research LLC Reduced -76,748-76.7k
RETIREMENT CAPITAL STRATEGIES Reduced -67,359-67.4k
UBS Group AG Reduced -52,137-52.1k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.13% of their portfolio FORT MILL, SC 9,819,6179.8m $489.8m $489.8m 0.13% Added +238.4k +238,360
2 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 9,814,9519.8m $489.6m $489.6m 0.03% Added +1.0m +1,035,768
3 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 2,393,1432.4m $119.4m $119.4m 0.04% Added +153.9k +153,945
4 STIFEL FINANCIAL CORP 0.09% of their portfolio ST. LOUIS, MO 2,069,6472.1m $103.2m $103.2m 0.09% Added +48.4k +48,435
5 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,872,8841.9m $93.4m $93.4m 0.02% Added +433.0k +433,029
6 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.13% of their portfolio PLYMOUTH, MN 1,855,3331.9m $92.6m $92.6m 0.13% Added +112.6k +112,590
7 Obermeyer Wealth Partners 3.03% of their portfolio ASPEN, CO 1,328,8491.3m $66.3m $66.3m 3.03% Added +186.8k +186,777
8 MML INVESTORS SERVICES, LLC 0.15% of their portfolio SPRINGFIELD, MA 1,253,8321.3m $62.5m $62.5m 0.15% Added +491.2k +491,167
9 JOURNEY STRATEGIC WEALTH LLC 1.40% of their portfolio SUMMIT, NJ 1,066,3961.1m $53.2m $53.2m 1.40% Reduced -31.0k -31,020
10 Mariner, LLC 0.06% of their portfolio Overland Park, KS 1,051,9681.1m $52.5m $52.5m 0.06% Added +556.8k +556,797
11 BENJAMIN EDWARDS INC 0.58% of their portfolio Clayton, MO 1,042,5881.0m $52.0m $52.0m 0.58% Added +86.8k +86,842
12 TOTAL INVESTMENT MANAGEMENT INC 6.35% of their portfolio SCOTTSDALE, AZ 992,874992.9k $49.5m $49.5m 6.35% Reduced -12.6k -12,642
13 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 914,342914.3k $45.6m $45.6m 0.01% Added +48.1k +48,126
14 COMMONWEALTH EQUITY SERVICES, LLC 0.06% of their portfolio WALTHAM, MA 856,000856.0k $42.7m $42.7m 0.06% Added +39.9k +39,899
15 Private Advisor Group, LLC 0.19% of their portfolio MORRISTOWN, NJ 802,494802.5k $40.0m $40.0m 0.19% Added +108.6k +108,571
16 F/m Investments LLC 1.52% of their portfolio WASHINGTON, DC 802,428802.4k $40.0m $40.0m 1.52% Added +24.9k +24,857
17 AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio Greenwich, CT 754,771754.8k $37.6m $37.6m 0.02% Added +700.9k +700,916
18 Mirae Asset Global Investments Co., Ltd. 0.10% of their portfolio SEOUL, M5 713,000713.0k $35.6m $35.6m 0.10% Added +453.0k +453,000
19 UBS Group AG 0.01% of their portfolio ZURICH, V8 679,664679.7k $33.9m $33.9m 0.01% Reduced -52.1k -52,137
20 Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio FAIRFIELD, IA 506,130506.1k $25.2m $25.2m 0.07% Added +2.5k +2,481
21 Revolve Wealth Partners, LLC 2.85% of their portfolio Hackensack, NJ 485,572485.6k $24.2m $24.2m 2.85% Reduced -25.2k -25,168
22 CENTRAL TRUST Co 0.42% of their portfolio JEFFERSON CITY, MO 428,929428.9k $21.4m $21.4m 0.42% Reduced -45.0k -45,034
23 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 409,700409.7k $20.4m $20.4m 0.02% Added +10.8k +10,812
24 SCOTIA CAPITAL INC. 0.08% of their portfolio TORONTO, A6 389,023389.0k $19.4m $19.4m 0.08% Reduced -131.8k -131,790
25 Steward Partners Investment Advisory, LLC 0.09% of their portfolio STAMFORD, CT 334,528334.5k $16.7m $16.7m 0.09% Added +34.4k +34,411
26 IBEX WEALTH ADVISORS 1.60% of their portfolio BEDMINSTER, NJ 326,600326.6k $16.3m $16.3m 1.60% Added +33.3k +33,279
27 Avidian Wealth Enterprises, LLC 0.54% of their portfolio Houston, TX 299,095299.1k $14.9m $14.9m 0.54% Added +118.8k +118,776
28 VanWeelden Wealth Management, LLC 11.11% of their portfolio WEST CHESTER TOWNSHIP, OH 283,618283.6k $14.1m $14.1m 11.11% Added +3.2k +3,239
29 KESTRA PRIVATE WEALTH SERVICES, LLC 0.17% of their portfolio AUSTIN, TX 269,250269.2k $13.4m $13.4m 0.17% Reduced -8.5k -8,473
30 Family Office Research LLC 5.48% of their portfolio Bethesda, MD 268,080268.1k $13.4m $13.4m 5.48% Reduced -76.7k -76,748
31 Capital Investment Counsel, Inc 1.53% of their portfolio RALEIGH, NC 261,385261.4k $13.0m $13.0m 1.53% Added +109.4k +109,419
32 Generation Capital Management LLC 8.43% of their portfolio PITTSFORD, NY 260,693260.7k $13.0m $13.0m 8.43% Added +8.8k +8,790
33 Lido Advisors, LLC 0.05% of their portfolio Los Angeles, CA 252,419252.4k $12.6m $12.6m 0.05% Unchanged
34 Wealthquest Corp 0.94% of their portfolio CINCINNATI, OH 250,202250.2k $12.5m $12.5m 0.94% Added +24.6k +24,626
35 Sterling Group Wealth Management, LLC 5.52% of their portfolio PASADENA, CA 228,481228.5k $11.4m $11.4m 5.52% Added +47.4k +47,426
36 Divergent Planning, LLC 2.90% of their portfolio BETHESDA, MD 227,379227.4k $11.3m $11.3m 2.90% Added +19.5k +19,453
37 Alpine Bank Wealth Management 1.57% of their portfolio GRAND JUNCTION, CO 222,955223.0k $11.1m $11.1m 1.57% Added +49.5k +49,494
38 Strait & Sound Wealth Management LLC 4.11% of their portfolio SAN FRANCISCO, CA 221,664221.7k $11.1m $11.1m 4.11% Reduced -16.0k -15,985
39 Kestra Advisory Services, LLC 0.04% of their portfolio AUSTIN, TX 217,108217.1k $10.8m $10.8m 0.04% Reduced -14.3k -14,298
40 Equitable Holdings, Inc. 0.07% of their portfolio NEW YORK, NY 216,101216.1k $10.8m $10.8m 0.07% Added +212 +212
41 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 212,606212.6k $10.6m $10.6m 0.00% Reduced -317.6k -317,620
42 Pinnacle Financial Partners, Inc. 0.08% of their portfolio ATLANTA, GA 200,980201.0k $10.0m $10.0m 0.08% First filing
43 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 190,010190.0k $9.5m $9.5m 0.01% New
44 Coign Capital Advisors LLC 4.92% of their portfolio Draper, UT 188,365188.4k $9.4m $9.4m 4.92% Reduced -30.0k -29,952
45 IFG Advisory, LLC 0.41% of their portfolio ATLANTA, GA 187,990188.0k $9.4m $9.4m 0.41% Added +21.1k +21,103
46 Integrated Wealth Concepts LLC 0.11% of their portfolio WALTHAM, MA 177,905177.9k $8.9m $8.9m 0.11% Reduced -312.7k -312,686
47 B & T Capital Management DBA Alpha Capital Management 1.25% of their portfolio AUSTIN, TX 177,742177.7k $8.9m $8.9m 1.25% Added +26.3k +26,315
48 MONEY CONCEPTS CAPITAL CORP 0.48% of their portfolio PALM BEACH GARDENS, FL 170,524170.5k $8.5m $8.5m 0.48% Reduced -3.5k -3,452
49 Pinnacle Wealth Management Group, Inc. 4.19% of their portfolio PLYMOUTH, MI 167,991168.0k $8.4m $8.4m 4.19% Added +3.3k +3,308
50 MBL Wealth, LLC 0.61% of their portfolio CHARLOTTE, NC 151,497151.5k $7.6m $7.6m 0.61% Added +112.0k +112,020
51 NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio NEW YORK, NY 150,872150.9k $7.5m $7.5m 0.01% Added +24.0k +23,991
52 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 150,315150.3k $7.5m $7.5m 0.01% Added +115.6k +115,584
53 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 149,747149.7k $7.5m $7.5m 0.00% Added +49.6k +49,640
54 RFG Advisory, LLC 0.14% of their portfolio BIRMINGHAM, AL 149,543149.5k $7.5m $7.5m 0.14% Added +18.3k +18,306
55 BOYUM WEALTH ARCHITECTS LLC 3.44% of their portfolio BLOOMINGTON, MN 147,117147.1k $7.4m $7.4m 3.44% Added +37.7k +37,734
56 FLPUTNAM INVESTMENT MANAGEMENT CO 0.11% of their portfolio PORTLAND, ME 145,634145.6k $7.3m $7.3m 0.11% Added +23.9k +23,933
57 Proactive Wealth Strategies LLC 2.86% of their portfolio MARIETTA, GA 144,655144.7k $7.2m $7.2m 2.86% Added +12.3k +12,307
58 Clear Creek Financial Management, LLC 0.58% of their portfolio SILVERDALE, WA 142,242142.2k $7.1m $7.1m 0.58% Added +26.2k +26,236
59 MANCHESTER FINANCIAL INC 1.19% of their portfolio Westlake Village, CA 127,331127.3k $6.4m $6.4m 1.19% Added +812 +812
60 Stratos Wealth Partners, LTD. 0.07% of their portfolio BEACHWOOD, OH 123,499123.5k $6.2m $6.2m 0.07% Reduced -10.5k -10,529
61 Fiduciary Alliance LLC 0.40% of their portfolio GREENVILLE, SC 122,839122.8k $6.1m $6.1m 0.40% Reduced -5.3k -5,284
62 VISION FINANCIAL MARKETS LLC 6.11% of their portfolio STAMFORD, CT 120,088120.1k $6.0m $6.0m 6.11% Added +3.4k +3,400
63 Sovereign Financial Group, Inc. 1.05% of their portfolio STAMFORD, CT 117,907117.9k $5.9m $5.9m 1.05% Added +10.1k +10,110
64 First Heartland Consultants, Inc. 0.44% of their portfolio LAKE ST. LOUIS, MO 116,159116.2k $5.8m $5.8m 0.44% Added +9.9k +9,897
65 Sunrise Financial Services, LLC 4.19% of their portfolio BURIEN, WA 111,467111.5k $5.6m $5.6m 4.19% First filing
66 FLAGSHIP HARBOR ADVISORS, LLC 0.25% of their portfolio BOSTON, MA 105,865105.9k $5.3m $5.3m 0.25% Reduced -19.1k -19,111
67 Copia Wealth Management 3.76% of their portfolio BEND, OR 105,623105.6k $5.3m $5.3m 3.76% Reduced -11.9k -11,937
68 Cypress Capital, LLC 1.47% of their portfolio FRANKLIN, TN 105,243105.2k $5.2m $5.2m 1.47% Added +39.3k +39,341
69 Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.63% of their portfolio CONCORD, MA 104,654104.7k $5.2m $5.2m 0.63% Added +1.2k +1,227
70 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 103,708103.7k $5.2m $5.2m 0.00% Added +98.4k +98,401
71 Spinnaker Investment Group, LLC 0.93% of their portfolio Newport Beach, CA 103,207103.2k $5.1m $5.1m 0.93% Added +96.2k +96,186
72 Tidal Investments LLC 0.02% of their portfolio Milwaukee, WI 101,428101.4k $5.1m $5.1m 0.02% Added +5.7k +5,715
73 Jaffetilchin Investment Partners, LLC 0.29% of their portfolio TAMPA, FL 100,353100.4k $5.0m $5.0m 0.29% Added +7.7k +7,714
74 Founders Financial Alliance, LLC 0.93% of their portfolio RALEIGH, NC 99,06699.1k $4.9m $4.9m 0.93% Added +22.3k +22,347
75 Hilton Capital Management, LLC 0.37% of their portfolio Garden City, NY 97,63597.6k $4.9m $4.9m 0.37% Reduced -2.4k -2,362
76 Forum Financial Management, LP 0.06% of their portfolio LOMBARD, IL 95,98996.0k $4.8m $4.8m 0.06% Reduced -5.8k -5,821
77 Wealthcare Advisory Partners LLC 0.09% of their portfolio WEST CHESTER, PA 95,67695.7k $4.8m $4.8m 0.09% Reduced -1.9k -1,897
78 &PARTNERS 0.02% of their portfolio NASHVILLE, TN 94,50394.5k $4.7m $4.7m 0.02% Added +5.6k +5,626
79 World Investment Advisors 0.08% of their portfolio LINCROFT, NJ 92,66792.7k $4.6m $4.6m 0.08% Added +57.4k +57,405
80 Formidable Asset Management, LLC 0.65% of their portfolio CINCINNATI, OH 89,17089.2k $4.5m $4.5m 0.65% Reduced -23.2k -23,202
81 DAVENPORT & Co LLC 0.02% of their portfolio RICHMOND, VA 86,14386.1k $4.3m $4.3m 0.02% Reduced -1.0k -1,034
82 Ashton Thomas Private Wealth, LLC 0.10% of their portfolio SCOTTSDALE, AZ 85,05985.1k $4.2m $4.2m 0.10% Reduced -6.6k -6,596
83 FLOW TRADERS U.S. LLC 0.14% of their portfolio NEW YORK, NY 83,63483.6k $4.2m $4.2m 0.14% Added +33.8k +33,824
84 Global View Capital Management LLC 0.76% of their portfolio WAUKESHA, WI 81,79581.8k $4.1m $4.1m 0.76% Reduced -7.1k -7,120
85 Farther Finance Advisors, LLC 0.04% of their portfolio SAN FRANCISCO, CA 80,27080.3k $4.0m $4.0m 0.04% Added +5.3k +5,269
86 Concurrent Investment Advisors, LLC 0.04% of their portfolio Tampa, FL 76,86376.9k $3.8m $3.8m 0.04% Added +10.1k +10,139
87 Beacon Pointe Advisors, LLC 0.02% of their portfolio NEWPORT BEACH, CA 70,68470.7k $3.5m $3.5m 0.02% Added +1.1k +1,110
88 Kraft, Davis & Associates, LLC 0.79% of their portfolio St. Louis, MO 70,22870.2k $3.5m $3.5m 0.79% Reduced -2.2k -2,182
89 INDEPENDENT FINANCIAL GROUP, LLC 0.08% of their portfolio SAN DIEGO, CA 70,05970.1k $3.5m $3.5m 0.08% Added +6.0k +5,972
90 Crew Capital Management, Ltd 2.10% of their portfolio CINCINNATI, OH 66,86366.9k $3.3m $3.3m 2.10% Added +4.4k +4,439
91 MATAURO, LLC 0.47% of their portfolio NEW YORK, NY 63,21763.2k $3.2m $3.2m 0.47% Added +12.0k +12,012
92 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 61,76761.8k $3.1m $3.1m 0.00% Reduced -4.5k -4,479
93 AdvisorNet Financial, Inc 0.15% of their portfolio MINNETONKA, MN 57,69657.7k $2.9m $2.9m 0.15% Reduced -30.5k -30,514
94 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 57,68357.7k $2.9m $2.9m 0.01% Added +48.0k +47,980
95 Parallel Advisors, LLC 0.05% of their portfolio SAN FRANCISCO, CA 57,63457.6k $2.9m $2.9m 0.05% Reduced -11.5k -11,461
96 GREAT VALLEY ADVISOR GROUP, INC. 0.05% of their portfolio WILMINGTON, DE 57,27457.3k $2.9m $2.9m 0.05% Added +3.9k +3,931
97 KW WEALTH MANAGEMENT LLC 4.33% of their portfolio SACRAMENTO, CA 57,16057.2k $2.9m $2.9m 4.33% Added +33.1k +33,133
98 Orion Porfolio Solutions, LLC 0.02% of their portfolio OMAHA, NE 56,48156.5k $2.8m $2.8m 0.02% Reduced -1.2k -1,197
99 Fortis Group Advisors, LLC 0.46% of their portfolio WESTWOOD, NJ 55,31755.3k $2.8m $2.8m 0.46% Added +1.9k +1,938
100 Longview Financial Advisors, Inc. 1.83% of their portfolio HUNTSVILLE, AL 53,94453.9k $2.7m $2.7m 1.83% Reduced -6.1k -6,141