Vault-13

STARBOARD INVT TR AMAX

ADAPTIVE HDGD MU · ETP · CUSIP 85521B783

22 institutional holders +0 vs Q1 2026
6,201,1096.2m shares reported held*
$45.9mreported value*
3 new 12 added 7 reduced 3 sold out net bought ≈ $11.1m (+1.5m 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 ≈ $7.40.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 14Q4 22: 19Q1 23: 18Q2 23: 16Q3 23: 16Q4 23: 19Q1 24: 16Q2 24: 17Q3 24: 16Q4 24: 18Q1 25: 19Q2 25: 18Q3 25: 20Q4 25: 21Q1 26: 22Q2 26: 2222Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202214
Q4 202219
Q1 202318
Q2 202316
Q3 202316
Q4 202319
Q1 202416
Q2 202417
Q3 202416
Q4 202418
Q1 202519
Q2 202518
Q3 202520
Q4 202521
Q1 202622
Q2 202622

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 24: 9 bought or addedQ3 24: 9 cut or sold outQ4 24: 11 bought or addedQ4 24: 6 cut or sold outQ4 24Q1 25: 13 bought or addedQ1 25: 6 cut or sold outQ2 25: 9 bought or addedQ2 25: 11 cut or sold outQ2 25Q3 25: 14 bought or addedQ3 25: 9 cut or sold outQ4 25: 13 bought or addedQ4 25: 9 cut or sold outQ4 25Q1 26: 12 bought or addedQ1 26: 10 cut or sold outQ2 26: 15 bought or addedQ2 26: 10 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 202499
Q4 2024116
Q1 2025136
Q2 2025911
Q3 2025149
Q4 2025139
Q1 20261210
Q2 20261510

Biggest buyers

Prosperity Financial Group, Inc. New +606,269+606.3k
LPL Financial LLC Added +462,388+462.4k
FIG FINANCIAL ADVISORY SERVICES INC /ADV New +196,418+196.4k
KESTRA PRIVATE WEALTH SERVICES, LLC Added +140,794+140.8k
WCG Wealth Advisors LLC New +93,436+93.4k
PARTNERS WEALTH MANAGEMENT, LLC Added +91,649+91.6k
Rockport Wealth LLC Added +21,201+21.2k
Encompass More Asset Management Added +17,045+17.0k
OSAIC HOLDINGS, INC. Added +7,028+7.0k
ENVESTNET ASSET MANAGEMENT INC Added +5,692+5.7k

Biggest sellers

Foundations Investment Advisors, LLC Sold out -46,838-46.8k
Cetera Investment Advisers Sold out -32,111-32.1k
Janney Montgomery Scott LLC Reduced -23,995-24.0k
JANE STREET GROUP, LLC Reduced -17,080-17.1k
CITADEL ADVISORS LLC Reduced -12,887-12.9k
CENTAURUS FINANCIAL, INC. Reduced -3,369-3.4k
LaSalle St. Investment Advisors, LLC Reduced -1,581-1.6k
RAYMOND JAMES FINANCIAL INC Reduced -750-750
UBS Group AG Sold out -37-37
MORGAN STANLEY Reduced -1-1

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 1,504,7291.5m $11.1m $11.1m 0.00% Added +462.4k +462,388
2 KESTRA PRIVATE WEALTH SERVICES, LLC 0.11% of their portfolio AUSTIN, TX 1,360,3611.4m $10.1m $10.1m 0.11% Added +140.8k +140,794
3 PARTNERS WEALTH MANAGEMENT, LLC 6.47% of their portfolio CARMEL BY THE SEA, CA 892,491892.5k $6.6m $6.6m 6.47% Added +91.6k +91,649
4 Prosperity Financial Group, Inc. 1.39% of their portfolio San Ramon, CA 606,269606.3k $4.5m $4.5m 1.39% New
5 Encompass More Asset Management 0.44% of their portfolio Danville, CA 400,421400.4k $3.0m $3.0m 0.44% Added +17.0k +17,045
6 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 368,117368.1k $2.7m $2.7m 0.00% Added +7.0k +7,028
7 Rockport Wealth LLC 0.45% of their portfolio Fairview Park, OH 362,053362.1k $2.7m $2.7m 0.45% Added +21.2k +21,201
8 FIG FINANCIAL ADVISORY SERVICES INC /ADV 0.85% of their portfolio OKLAHOMA CITY, OK 196,418196.4k $1.5m $1.5m 0.85% New
9 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 135,386135.4k $1.0m $1.0m 0.00% Reduced -750 -750
10 WCG Wealth Advisors LLC 0.02% of their portfolio LAS VEGAS, NV 93,43693.4k $691.4k $691.4k 0.02% New
11 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 54,24254.2k $401.4k $401.4k 0.00% Added +1.8k +1,788
12 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 43,72243.7k $323.5k $323.5k 0.00% Reduced -17.1k -17,080
13 INTEGRITY ALLIANCE, LLC. 0.01% of their portfolio Urbandale, IA 38,79838.8k $287.1k $287.1k 0.01% Added +504 +504
14 LaSalle St. Investment Advisors, LLC 0.03% of their portfolio ELMHURST, IL 38,06538.1k $281.7k $281.7k 0.03% Reduced -1.6k -1,581
15 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 32,47132.5k $240.0k $240.0k 0.00% Reduced -24.0k -23,995
16 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 16,08716.1k $119.0k $119.0k 0.00% Added +5.7k +5,692
17 Empirical Asset Management, LLC 0.02% of their portfolio WELLESLEY, MA 12,32312.3k $91.2k $91.2k 0.02% Added +115 +115
18 CENTAURUS FINANCIAL, INC. 0.00% of their portfolio ANAHEIM, CA 12,15012.2k $90.0k $90.0k 0.00% Reduced -3.4k -3,369
19 Atria Investments, Inc 0.00% of their portfolio Charlotte, NC 11,23211.2k $83.1k $83.1k 0.00% Added +165 +165
20 Ausdal Financial Partners, Inc. 0.00% of their portfolio Davenport, IA 11,23211.2k $83.1k $83.1k 0.00% Added +165 +165
21 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 11,10511.1k $82.2k $82.2k 0.00% Reduced -12.9k -12,887
22 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11 $10 $10 0.00% Reduced -1 -1