Vault-13

T ROWE PRICE ETF INC TMSL

SMALL MID CAP · ETP · CUSIP 87283Q826

98 institutional holders -2 vs Q1 2025
17,884,24217.9m shares reported held*
$587.6mreported value*
11 new 49 added 25 reduced 15 sold out net bought ≈ $96.3m (+2.9m 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 ($477.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $32.85.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q2 23: 2Q3 23: 2Q4 23: 12Q1 24: 16Q2 24: 23Q3 24: 46Q4 24: 87Q1 25: 100Q2 25: 9898Q2 23Q4 23Q2 24Q4 24Q2 25
Numbers
QuarterHolders
Q2 20232
Q3 20232
Q4 202312
Q1 202416
Q2 202423
Q3 202446
Q4 202487
Q1 2025100
Q2 202598

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 1 bought or addedQ3 23: 0 cut or sold outQ4 23: 10 bought or addedQ4 23: 1 cut or sold outQ4 23Q1 24: 12 bought or addedQ1 24: 2 cut or sold outQ2 24: 19 bought or addedQ2 24: 4 cut or sold outQ2 24Q3 24: 42 bought or addedQ3 24: 1 cut or sold outQ4 24: 72 bought or addedQ4 24: 8 cut or sold outQ4 24Q1 25: 70 bought or addedQ1 25: 29 cut or sold outQ2 25: 60 bought or addedQ2 25: 40 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 202310
Q4 2023101
Q1 2024122
Q2 2024194
Q3 2024421
Q4 2024728
Q1 20257029
Q2 20256040

Biggest buyers

PRICE T ROWE ASSOCIATES INC /MD/ Added +1,119,777+1.1m
CMH Wealth Management LLC New +489,121+489.1k
LPL Financial LLC Added +416,352+416.4k
CAPTRUST FINANCIAL ADVISORS Added +300,967+301.0k
D.A. DAVIDSON & CO. Added +269,742+269.7k
OSAIC HOLDINGS, INC. Added +198,446+198.4k
JONES FINANCIAL COMPANIES LLLP Added +161,001+161.0k
Asio Capital, LLC Added +152,230+152.2k
UBS Group AG Added +123,367+123.4k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +98,411+98.4k

Biggest sellers

MML INVESTORS SERVICES, LLC Reduced -269,310-269.3k
NOVEM GROUP Sold out -209,030-209.0k
CARY STREET PARTNERS FINANCIAL LLC Sold out -155,569-155.6k
STIFEL FINANCIAL CORP Reduced -122,987-123.0k
RAYMOND JAMES FINANCIAL INC Reduced -77,412-77.4k
Farther Finance Advisors, LLC Reduced -59,239-59.2k
SFG Wealth Management, LLC. Sold out -49,462-49.5k
Per Stirling Capital Management, LLC. Sold out -49,239-49.2k
CITADEL ADVISORS LLC Sold out -24,426-24.4k
JANE STREET GROUP, LLC Sold out -22,888-22.9k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio BALTIMORE, MD 5,288,9375.3m $173.5m $173.5m 0.02% Added +1.1m +1,119,777
2 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,590,5661.6m $52.2m $52.2m 0.02% Added +416.4k +416,352
3 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 915,343915.3k $30.0m $30.0m 0.01% Reduced -77.4k -77,412
4 CAPTRUST FINANCIAL ADVISORS 0.06% of their portfolio RALEIGH, NC 848,317848.3k $27.8m $27.8m 0.06% Added +301.0k +300,967
5 Watchman Group, Inc. 6.89% of their portfolio PLANO, TX 805,178805.2k $26.4m $26.4m 6.89% Added +37.6k +37,628
6 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.04% of their portfolio PLYMOUTH, MN 781,458781.5k $26.2m $26.2m 0.04% Added +57.0k +57,043
7 Souders Financial Advisors 2.07% of their portfolio CINCINNATI, OH 495,161495.2k $16.2m $16.2m 2.07% Added +39.9k +39,853
8 CMH Wealth Management LLC 3.73% of their portfolio PORTSMOUTH, NH 489,121489.1k $16.0m $16.0m 3.73% New
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 473,051473.1k $15.5m $15.5m 0.00% Added +123.4k +123,367
10 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 431,459431.5k $14.2m $14.2m 0.03% Added +198.4k +198,446
11 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 404,723404.7k $13.3m $13.3m 0.01% Added +98.4k +98,411
12 Asio Capital, LLC 2.06% of their portfolio LEXINGTON, KY 377,121377.1k $12.4m $12.4m 2.06% Added +152.2k +152,230
13 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 336,743336.7k $11.0m $11.0m 0.02% Added +60.5k +60,506
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 309,023309.0k $10.1m $10.1m 0.00% Reduced -1.4k -1,429
15 D.A. DAVIDSON & CO. 0.06% of their portfolio GREAT FALLS, MT 276,949276.9k $9.1m $9.1m 0.06% Added +269.7k +269,742
16 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 259,156259.2k $8.5m $8.5m 0.03% Added +22.4k +22,450
17 Private Advisor Group, LLC 0.04% of their portfolio MORRISTOWN, NJ 254,548254.5k $8.3m $8.3m 0.04% Added +27.3k +27,274
18 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 238,936238.9k $7.8m $7.8m 0.01% Added +161.0k +161,001
19 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 236,612236.6k $7.8m $7.8m 0.01% Added +8.2k +8,222
20 FLAGSHIP HARBOR ADVISORS, LLC 0.33% of their portfolio BOSTON, MA 215,069215.1k $7.1m $7.1m 0.33% Added +60.7k +60,724
21 OneDigital Investment Advisors LLC 0.06% of their portfolio OVERLAND PARK, KS 161,806161.8k $5.3m $5.3m 0.06% Added +2.4k +2,369
22 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 161,336161.3k $5.3m $5.3m 0.00% Added +3.2k +3,217
23 Stratos Wealth Partners, LTD. 0.06% of their portfolio BEACHWOOD, OH 145,415145.4k $4.8m $4.8m 0.06% Added +2.3k +2,304
24 Atria Wealth Solutions, Inc. 0.11% of their portfolio NEW YORK, NY 142,613142.6k $4.8m $4.8m 0.11% Reduced -21.4k -21,436
25 Astor Investment Management LLC 2.50% of their portfolio CHICAGO, IL 141,254141.3k $4.6m $4.6m 2.50% Reduced -5.1k -5,092
26 DAVENPORT & Co LLC 0.02% of their portfolio RICHMOND, VA 130,500130.5k $4.3m $4.3m 0.02% Added +1.2k +1,234
27 CENTAURUS FINANCIAL, INC. 0.25% of their portfolio ANAHEIM, CA 128,798128.8k $4.2m $4.2m 0.25% Added +79.8k +79,764
28 Farther Finance Advisors, LLC 0.08% of their portfolio SAN FRANCISCO, CA 115,978116.0k $3.8m $3.8m 0.08% Reduced -59.2k -59,239
29 Stephens Consulting, LLC 0.86% of their portfolio FLINT, MI 109,837109.8k $3.6m $3.6m 0.86% Reduced -4.8k -4,802
30 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 106,496106.5k $3.5m $3.5m 0.00% Added +32.0k +31,977
31 Global Retirement Partners, LLC 0.08% of their portfolio San Rafael, CA 92,80692.8k $3.0m $3.0m 0.08% First filing
32 Vantage Financial Partners, LLC 0.69% of their portfolio ELM GROVE, WI 91,54091.5k $3.0m $3.0m 0.69% New
33 Essex Financial Services, Inc. 0.17% of their portfolio ESSEX, CT 79,28379.3k $2.6m $2.6m 0.17% Added +28.5k +28,493
34 Tyler-Stone Wealth Management 0.36% of their portfolio Beachwood, OH 67,25967.3k $2.2m $2.2m 0.36% Reduced -3.0k -3,017
35 Garden State Investment Advisory Services LLC 0.58% of their portfolio Red Bank, NJ 65,47065.5k $2.1m $2.1m 0.58% Added +6.5k +6,541
36 SITTNER & NELSON, LLC 0.83% of their portfolio EUGENE, OR 62,68962.7k $2.1m $2.1m 0.83% Added +7.2k +7,160
37 Good Life Advisors, LLC 0.13% of their portfolio READING, PA 61,28161.3k $2.0m $2.0m 0.13% Added +51.2k +51,177
38 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 55,45655.5k $1.8m $1.8m 0.01% Added +1.6k +1,589
39 Atlas Wealth LLC 0.61% of their portfolio CINCINNATI, OH 50,57450.6k $1.7m $1.7m 0.61% New
40 PFG Advisors 0.07% of their portfolio Phoenix, AZ 48,63248.6k $1.6m $1.6m 0.07% Reduced -1.5k -1,475
41 Atria Investments, Inc 0.02% of their portfolio Charlotte, NC 48,33448.3k $1.6m $1.6m 0.02% Reduced -2.0k -2,038
42 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 46,97447.0k $1.5m $1.5m 0.00% Reduced -2.5k -2,531
43 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 44,50644.5k $1.5m $1.5m 0.00% Reduced -269.3k -269,310
44 DAHRING | CUSMANO LLC 1.07% of their portfolio NOVI, MI 41,76041.8k $1.4m $1.4m 1.07% Added +4.5k +4,527
45 Legacy Capital Group California, Inc. 0.33% of their portfolio LOS GATOS, CA 36,77436.8k $1.2m $1.2m 0.33% Added +732 +732
46 Robertson Stephens Wealth Management, LLC 0.04% of their portfolio San Francisco, CA 33,51733.5k $1.1m $1.1m 0.04% Reduced -6.3k -6,338
47 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 32,81632.8k $1.1m $1.1m 0.00% Unchanged
48 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 32,67632.7k $1.1m $1.1m 0.01% Reduced -13.9k -13,899
49 BENJAMIN EDWARDS INC 0.01% of their portfolio Clayton, MO 32,31132.3k $1.1m $1.1m 0.01% Reduced -4.1k -4,091
50 Omnitrust Wealth Management, Inc 1.47% of their portfolio JACKSONVILLE, FL 28,35528.4k $1.2m $1.2m 1.47% First filing
51 OneAscent Family Office, LLC 0.86% of their portfolio BIRMINGHAM, AL 27,78327.8k $911.0k $911.0k 0.86% Unchanged
52 Advisor OS, LLC 0.09% of their portfolio CHICAGO, IL 27,00227.0k $885.7k $885.7k 0.09% Added +1.8k +1,820
53 Kingsview Wealth Management, LLC 0.01% of their portfolio GRANTS PASS, OR 24,69524.7k $810.0k $810.0k 0.01% Added +4.5k +4,519
54 HBW ADVISORY SERVICES LLC 0.10% of their portfolio SIMI VALLEY, CA 24,09024.1k $790.2k $790.2k 0.10% Added +986 +986
55 Heritage Wealth Management, Inc. 0.25% of their portfolio CINCINNATI, OH 23,94523.9k $785.4k $785.4k 0.25% Added +9.1k +9,074
56 DKM Wealth Management, Inc. 0.64% of their portfolio STOCKTON, CA 22,51122.5k $738.4k $738.4k 0.64% New
57 National Wealth Management Group, LLC 0.40% of their portfolio CINCINNATI, OH 21,57121.6k $707.5k $707.5k 0.40% Added +4.1k +4,106
58 IFG Advisory, LLC 0.03% of their portfolio ATLANTA, GA 20,22820.2k $663.5k $663.5k 0.03% Added +4.5k +4,515
59 World Investment Advisors 0.01% of their portfolio LINCROFT, NJ 18,31018.3k $600.6k $600.6k 0.01% Reduced -2.5k -2,501
60 Financial Security Advisor, Inc. 0.14% of their portfolio VIRGINIA BEACH, VA 18,02718.0k $591.3k $591.3k 0.14% Added +5.5k +5,452
61 AdvisorNet Financial, Inc 0.04% of their portfolio MINNETONKA, MN 17,77217.8k $582.9k $582.9k 0.04% Added +2.6k +2,650
62 Retirement Planning Group, LLC 0.02% of their portfolio LEAWOOD, KS 17,00317.0k $557.7k $557.7k 0.02% New
63 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 15,22715.2k $499.4k $499.4k 0.00% Added +582 +582
64 SEAMOUNT FINANCIAL GROUP INC 0.25% of their portfolio COLORADO SPRINGS, CO 14,93914.9k $490.0k $490.0k 0.25% Added +237 +237
65 First Heartland Consultants, Inc. 0.04% of their portfolio LAKE ST. LOUIS, MO 13,87513.9k $455.1k $455.1k 0.04% Added +6.7k +6,712
66 Composition Wealth, LLC 0.01% of their portfolio LOS ANGELES, CA 12,83612.8k $421.0k $421.0k 0.01% Unchanged
67 Stratos Wealth Advisors, LLC 0.02% of their portfolio BEACHWOOD, OH 12,41912.4k $407.3k $407.3k 0.02% Reduced -6.9k -6,926
68 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 12,09812.1k $396.8k $396.8k 0.00% New
69 Capital Investment Advisory Services, LLC 0.03% of their portfolio RALEIGH, NC 11,16511.2k $366.2k $366.2k 0.03% Reduced -89 -89
70 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 10,81110.8k $354.6k $354.6k 0.00% Reduced -11.7k -11,659
71 GeoWealth Management, LLC 0.01% of their portfolio CHICAGO, IL 10,40010.4k $341.1k $341.1k 0.01% Added +16 +16
72 Mariner, LLC 0.00% of their portfolio Overland Park, KS 10,32610.3k $338.7k $338.7k 0.00% Reduced -793 -793
73 IHT Wealth Management, LLC 0.01% of their portfolio Chicago, IL 10,19210.2k $334.3k $334.3k 0.01% New
74 THOROUGHBRED FINANCIAL SERVICES, LLC 0.02% of their portfolio BRENTWOOD, TN 8,8608.9k $290.0k $290.0k 0.02% Reduced -3.1k -3,075
75 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 8,6078.6k $282.3k $282.3k 0.01% Added +167 +167
76 Nautilus Advisors LLC 0.20% of their portfolio La Jolla, CA 8,3408.3k $273.6k $273.6k 0.20% Added +1.5k +1,475
77 CWM, LLC 0.00% of their portfolio OMAHA, NE 8,3148.3k $273.0k $273.0k 0.00% Added +352 +352
78 MSH Capital Advisors LLC 0.06% of their portfolio SCOTTSDALE, AZ 6,7656.8k $221.9k $221.9k 0.06% Reduced -3.6k -3,565
79 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 6,5876.6k $216.1k $216.1k 0.00% Reduced -123.0k -122,987
80 Blume Capital Management, Inc. 0.03% of their portfolio BERKELEY, CA 5,0005.0k $164.0k $164.0k 0.03% Added +500 +500
81 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 4,7994.8k $157.9k $157.9k 0.00% Unchanged
82 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 4,2284.2k $138.7k $138.7k 0.00% Unchanged
83 COMERICA BANK 0.00% of their portfolio DALLAS, TX 3,0603.1k $100.4k $100.4k 0.00% New
84 Raleigh Capital Management Inc. 0.04% of their portfolio CARY, NC 2,8182.8k $92.4k $92.4k 0.04% Reduced -263 -263
85 Westside Investment Management, Inc. 0.01% of their portfolio SANTA MONICA, CA 1,9652.0k $64.5k $64.5k 0.01% Added +490 +490
86 JFS WEALTH ADVISORS, LLC 0.00% of their portfolio HERMITAGE, PA 1,6651.7k $54.6k $54.6k 0.00% Unchanged
87 Capital Analysts, LLC 0.00% of their portfolio FORT WASHINGTON, PA 1,0851.1k $35.0k $35.0k 0.00% Reduced -584 -584
88 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 1,0041.0k $32.9k $32.9k 0.00% Unchanged
89 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 751751 $24.6k $24.6k 0.00% Added +38 +38
90 GPS Wealth Strategies Group, LLC 0.00% of their portfolio CENTENNIAL, CO 550550 $18.0k $18.0k 0.00% Unchanged
91 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 541541 $17.7k $17.7k 0.00% New
92 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 530530 $17.4k $17.4k 0.00% Reduced -530 -530
93 Quest 10 Wealth Builders, Inc. 0.01% of their portfolio Fuquay-Varina, VA 459459 $15.1k $15.1k 0.01% Added +12 +12
94 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 400400 $13.1k $13.1k 0.00% New
95 Founders Financial Alliance, LLC 0.00% of their portfolio RALEIGH, NC 350350 $11.5k $11.5k 0.00% Unchanged
96 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 291291 $9.5k $9.5k 0.00% Unchanged
97 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 8383 $2.7k $2.7k 0.00% New
98 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged