Vault-13

T ROWE PRICE ETF INC TCAF

CAP APPRECIATION · ETP · CUSIP 87283Q867

278 institutional holders +23 vs Q1 2025
99,258,80899.3m shares reported held*
$3.5bnreported value*
37 new 162 added 58 reduced 16 sold out net bought ≈ $378.9m (+10.5m 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 ($256.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $35.29.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q2 23: 12Q3 23: 49Q4 23: 124Q1 24: 165Q2 24: 204Q3 24: 214Q4 24: 248Q1 25: 255Q2 25: 278278Q2 23Q4 23Q2 24Q4 24Q2 25
Numbers
QuarterHolders
Q2 202312
Q3 202349
Q4 2023124
Q1 2024165
Q2 2024204
Q3 2024214
Q4 2024248
Q1 2025255
Q2 2025278

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 46 bought or addedQ3 23: 3 cut or sold outQ4 23: 104 bought or addedQ4 23: 12 cut or sold outQ4 23Q1 24: 136 bought or addedQ1 24: 28 cut or sold outQ2 24: 160 bought or addedQ2 24: 34 cut or sold outQ2 24Q3 24: 163 bought or addedQ3 24: 44 cut or sold outQ4 24: 185 bought or addedQ4 24: 43 cut or sold outQ4 24Q1 25: 196 bought or addedQ1 25: 63 cut or sold outQ2 25: 199 bought or addedQ2 25: 74 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023463
Q4 202310412
Q1 202413628
Q2 202416034
Q3 202416344
Q4 202418543
Q1 202519663
Q2 202519974

Biggest buyers

ROYAL BANK OF CANADA Added +2,421,373+2.4m
LPL Financial LLC Added +1,938,623+1.9m
PRICE T ROWE ASSOCIATES INC /MD/ Added +1,894,148+1.9m
MORGAN STANLEY Added +1,524,028+1.5m
RAYMOND JAMES FINANCIAL INC Added +865,066+865.1k
STIFEL FINANCIAL CORP Added +629,980+630.0k
TTP Investments, Inc. Added +555,277+555.3k
OSAIC HOLDINGS, INC. Added +384,217+384.2k
JONES FINANCIAL COMPANIES LLLP Added +347,404+347.4k
Rockefeller Capital Management L.P. Added +339,746+339.7k

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -2,806,953-2.8m
COMMONWEALTH EQUITY SERVICES, LLC Reduced -671,764-671.8k
CAROLINAS WEALTH CONSULTING LLC Sold out -441,362-441.4k
WELLS FARGO & COMPANY/MN Reduced -236,610-236.6k
Fortis Group Advisors, LLC Reduced -150,727-150.7k
Arcus Capital Partners, LLC Reduced -120,928-120.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -117,615-117.6k
ORBA Wealth Advisors, L.L.C. Reduced -49,320-49.3k
GGM Financial LLC Sold out -20,185-20.2k
CPC Advisors, LLC Reduced -20,150-20.1k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 PRICE T ROWE ASSOCIATES INC /MD/ 0.06% of their portfolio BALTIMORE, MD 15,517,21515.5m $547.4m $547.4m 0.06% Added +1.9m +1,894,148
2 LPL Financial LLC 0.13% of their portfolio FORT MILL, SC 10,728,69310.7m $378.5m $378.5m 0.13% Added +1.9m +1,938,623
3 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 5,351,3555.4m $188.8m $188.8m 0.07% Added +865.1k +865,066
4 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 4,267,8824.3m $150.6m $150.6m 0.01% Added +2.4m +2,421,373
5 COMMONWEALTH EQUITY SERVICES, LLC 0.20% of their portfolio WALTHAM, MA 4,262,7104.3m $150.4m $150.4m 0.20% Reduced -671.8k -671,764
6 OSAIC HOLDINGS, INC. 0.18% of their portfolio SCOTTSDALE, AZ 2,788,4792.8m $98.4m $98.4m 0.18% Added +384.2k +384,217
7 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 2,774,7382.8m $97.9m $97.9m 0.01% Added +1.5m +1,524,028
8 VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio ATLANTA, GA 2,762,8592.8m $97.5m $97.5m 0.10% Reduced -2.8m -2,806,953
9 Baird Financial Group, Inc. 0.17% of their portfolio MILWAUKEE, WI 2,725,4942.7m $96.2m $96.2m 0.17% Added +195.1k +195,072
10 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 2,600,1292.6m $91.7m $91.7m 0.02% Reduced -236.6k -236,610
11 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,828,6581.8m $64.5m $64.5m 0.01% Added +2.1k +2,134
12 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.10% of their portfolio PLYMOUTH, MN 1,779,5961.8m $63.4m $63.4m 0.10% Added +95.6k +95,588
13 Cambridge Investment Research Advisors, Inc. 0.19% of their portfolio FAIRFIELD, IA 1,765,5831.8m $62.3m $62.3m 0.19% Added +101.6k +101,597
14 TTP Investments, Inc. 19.14% of their portfolio San Jose, CA 1,653,4321.7m $58.3m $58.3m 19.14% Added +555.3k +555,277
15 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 1,397,2561.4m $49.3m $49.3m 0.05% Added +630.0k +629,980
16 CPC Advisors, LLC 6.00% of their portfolio Atlanta, GA 1,355,9811.4m $47.8m $47.8m 6.00% Reduced -20.1k -20,150
17 Modern Wealth Management, LLC 1.11% of their portfolio KANSAS CITY, MO 1,278,3091.3m $45.1m $45.1m 1.11% Added +14.6k +14,553
18 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,210,1501.2m $42.7m $42.7m 0.00% Added +117.8k +117,833
19 JONES FINANCIAL COMPANIES LLLP 0.03% of their portfolio DES PERES, MO 1,031,6811.0m $36.3m $36.3m 0.03% Added +347.4k +347,404
20 McCarthy & Cox 9.48% of their portfolio MARYSVILLE, OH 1,026,4191.0m $36.2m $36.2m 9.48% Added +10.5k +10,461
21 Mesirow Financial Investment Management, Inc. 0.67% of their portfolio CHICAGO, IL 973,312973.3k $34.3m $34.3m 0.67% Added +90.8k +90,762
22 LEVEL FOUR ADVISORY SERVICES, LLC 1.19% of their portfolio DALLAS, TX 914,706914.7k $32.3m $32.3m 1.19% Added +22.1k +22,054
23 CORA CAPITAL ADVISORS LLC 12.77% of their portfolio MARLTON, NJ 812,962813.0k $28.7m $28.7m 12.77% Added +20.4k +20,423
24 OneDigital Investment Advisors LLC 0.31% of their portfolio OVERLAND PARK, KS 779,889779.9k $27.5m $27.5m 0.31% Reduced -15.7k -15,705
25 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 777,031777.0k $27.4m $27.4m 0.05% Added +88.7k +88,738
26 Souders Financial Advisors 3.26% of their portfolio CINCINNATI, OH 726,645726.6k $25.6m $25.6m 3.26% Added +91.4k +91,424
27 PYA Waltman Capital, LLC 7.35% of their portfolio KNOXVILLE, TN 723,196723.2k $25.5m $25.5m 7.35% Added +20.3k +20,348
28 UBS Group AG 0.01% of their portfolio ZURICH, V8 679,837679.8k $24.0m $24.0m 0.01% Added +187.6k +187,573
29 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 639,842639.8k $22.6m $22.6m 0.03% Added +339.7k +339,746
30 GREAT VALLEY ADVISOR GROUP, INC. 0.47% of their portfolio WILMINGTON, DE 595,164595.2k $21.0m $21.0m 0.47% Added +215.0k +215,020
31 Private Advisor Group, LLC 0.11% of their portfolio MORRISTOWN, NJ 577,628577.6k $20.4m $20.4m 0.11% Added +39.2k +39,217
32 Beaumont Financial Advisors, LLC 1.41% of their portfolio NEEDHAM, MA 551,269551.3k $19.4m $19.4m 1.41% Reduced -16.7k -16,701
33 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 541,925541.9k $19.1m $19.1m 0.01% Added +146.0k +146,035
34 McCarthy Asset Management, Inc. 12.93% of their portfolio REDWOOD SHORES, CA 539,671539.7k $19.0m $19.0m 12.93% Reduced -7.4k -7,417
35 Cornerstone Advisory, LLC 2.04% of their portfolio HUNT VALLEY, MD 537,301537.3k $19.0m $19.0m 2.04% Reduced -9.8k -9,820
36 FINANCIAL CONSULATE, INC 3.59% of their portfolio HUNT VALLEY, MD 514,761514.8k $18.2m $18.2m 3.59% Reduced -5.5k -5,532
37 ADE, LLC 9.56% of their portfolio BALTIMORE, MD 509,206509.2k $18.0m $18.0m 9.56% Added +20.3k +20,314
38 Kestra Advisory Services, LLC 0.08% of their portfolio AUSTIN, TX 467,657467.7k $16.5m $16.5m 0.08% Added +217.8k +217,825
39 EASTERN BANK 0.27% of their portfolio BOSTON, MA 397,629397.6k $14.0m $14.0m 0.27% Added +16.9k +16,897
40 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 397,391397.4k $14.0m $14.0m 0.04% Added +14.8k +14,786
41 DKM Wealth Management, Inc. 11.80% of their portfolio STOCKTON, CA 387,863387.9k $13.7m $13.7m 11.80% Reduced -5.9k -5,938
42 Atria Wealth Solutions, Inc. 0.31% of their portfolio NEW YORK, NY 379,262379.3k $13.5m $13.5m 0.31% Added +49.6k +49,574
43 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 367,223367.2k $13.0m $13.0m 0.00% Added +22.5k +22,508
44 Composition Wealth, LLC 0.21% of their portfolio LOS ANGELES, CA 358,277358.3k $12.6m $12.6m 0.21% Added +38.5k +38,503
45 Ausdal Financial Partners, Inc. 0.81% of their portfolio Davenport, IA 344,469344.5k $12.2m $12.2m 0.81% Added +27.5k +27,518
46 Prospera Financial Services Inc 0.22% of their portfolio Dallas, TX 337,087337.1k $11.9m $11.9m 0.22% Added +2.2k +2,178
47 Principle Wealth Partners LLC 0.74% of their portfolio MADISON, CT 334,480334.5k $11.8m $11.8m 0.74% Added +5.4k +5,392
48 National Wealth Management Group, LLC 6.44% of their portfolio CINCINNATI, OH 325,947325.9k $11.5m $11.5m 6.44% Added +8.7k +8,725
49 MENORA MIVTACHIM HOLDINGS LTD. 0.07% of their portfolio Ramat Gan, L3 325,727325.7k $11.5m $11.5m 0.07% Added +114.7k +114,715
50 PARSONS CAPITAL MANAGEMENT INC/RI 0.69% of their portfolio PROVIDENCE, RI 320,407320.4k $11.3m $11.3m 0.69% Reduced -552 -552
51 ARS Wealth Advisors Group, LLC 1.30% of their portfolio St. Petersburg, FL 319,889319.9k $11.3m $11.3m 1.30% Added +50.9k +50,943
52 D.A. DAVIDSON & CO. 0.08% of their portfolio GREAT FALLS, MT 318,015318.0k $11.2m $11.2m 0.08% Added +5.6k +5,620
53 Arcus Capital Partners, LLC 4.75% of their portfolio ATLANTA, GA 311,329311.3k $11.0m $11.0m 4.75% Reduced -120.9k -120,928
54 Harfst & Associates, Inc. 2.26% of their portfolio Sheridan, WY 310,372310.4k $10.9m $10.9m 2.26% Added +185.4k +185,376
55 IFG Advisory, LLC 0.53% of their portfolio ATLANTA, GA 299,794299.8k $10.6m $10.6m 0.53% Added +250.3k +250,259
56 Forge Financial Services LLC 7.77% of their portfolio EDMOND, OK 290,328290.3k $10.3m $10.3m 7.77% Added +38.9k +38,945
57 MTM Investment Management, LLC 3.42% of their portfolio SPARTANBURG, SC 288,967289.0k $10.2m $10.2m 3.42% Added +75.9k +75,874
58 Capital Analysts, LLC 0.33% of their portfolio FORT WASHINGTON, PA 283,743283.7k $10.0m $10.0m 0.33% Added +131.2k +131,174
59 Onyx Bridge Wealth Group LLC 1.30% of their portfolio TARRYTOWN, NY 279,053279.1k $9.8m $9.8m 1.30% Added +14.4k +14,383
60 Allworth Financial LP 0.05% of their portfolio FOLSOM, CA 269,620269.6k $9.5m $9.5m 0.05% Added +5.1k +5,110
61 Waverly Advisors, LLC 0.10% of their portfolio BIRMINGHAM, AL 260,137260.1k $9.2m $9.2m 0.10% Added +8.9k +8,873
62 4J Wealth Management LLC 6.06% of their portfolio MCLEAN, VA 254,467254.5k $9.0m $9.0m 6.06% Added +2.8k +2,809
63 Keystone Financial Group 0.77% of their portfolio LEXINGTON, KY 240,362240.4k $8.5m $8.5m 0.77% Added +16.2k +16,200
64 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.58% of their portfolio CEDAR RAPIDS, IA 238,766238.8k $8.4m $8.4m 0.58% Added +230 +230
65 World Investment Advisors 0.19% of their portfolio LINCROFT, NJ 231,101231.1k $8.2m $8.2m 0.19% Added +23.6k +23,571
66 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 229,565229.6k $8.1m $8.1m 0.01% Added +1.1k +1,105
67 Ledyard National Bank 0.74% of their portfolio HANOVER, NH 221,367221.4k $7.8m $7.8m 0.74% Added +6.5k +6,487
68 CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio RALEIGH, NC 215,602215.6k $7.6m $7.6m 0.02% Added +161.9k +161,868
69 CERTIOR FINANCIAL GROUP, LLC 5.68% of their portfolio KING OF PRUSSIA, PA 209,668209.7k $7.4m $7.4m 5.68% Added +12.1k +12,097
70 Garden State Investment Advisory Services LLC 1.97% of their portfolio Red Bank, NJ 206,666206.7k $7.3m $7.3m 1.97% Reduced -15.3k -15,342
71 Beacon Financial Advisory LLC 1.87% of their portfolio CLEVELAND, OH 205,303205.3k $7.2m $7.2m 1.87% Added +28.5k +28,526
72 Fortis Group Advisors, LLC 1.27% of their portfolio WESTWOOD, NJ 190,943190.9k $7.0m $7.0m 1.27% Reduced -150.7k -150,727
73 Global Retirement Partners, LLC 0.16% of their portfolio San Rafael, CA 182,967183.0k $6.5m $6.5m 0.16% First filing
74 Financial Security Advisor, Inc. 1.40% of their portfolio VIRGINIA BEACH, VA 172,742172.7k $6.1m $6.1m 1.40% Reduced -2.3k -2,254
75 NCM Capital Management, LLC 2.45% of their portfolio RAMSEY, NJ 169,122169.1k $6.0m $6.0m 2.45% Added +19.2k +19,220
76 EXCHANGE TRADED CONCEPTS, LLC 0.07% of their portfolio Oklahoma City, OK 165,726165.7k $5.8m $5.8m 0.07% Added +32.6k +32,643
77 Carson Advisory Inc. 3.70% of their portfolio ATHENS, GA 165,144165.1k $5.8m $5.8m 3.70% Added +5.0k +5,021
78 Stratos Wealth Advisors, LLC 0.30% of their portfolio BEACHWOOD, OH 160,080160.1k $5.6m $5.6m 0.30% Added +3.9k +3,941
79 Chemistry Wealth Management LLC 1.17% of their portfolio NEW YORK, NY 155,089155.1k $5.5m $5.5m 1.17% Added +12.6k +12,562
80 V2 Financial group LLC 3.22% of their portfolio NAPERVILLE, IL 151,360151.4k $5.3m $5.3m 3.22% Reduced -3.1k -3,071
81 Essex Financial Services, Inc. 0.34% of their portfolio ESSEX, CT 147,281147.3k $5.2m $5.2m 0.34% Added +20.0k +20,012
82 Sharkey, Howes & Javer 0.69% of their portfolio DENVER, CO 146,498146.5k $5.2m $5.2m 0.69% Reduced -7.8k -7,836
83 Patton Albertson Miller Group, LLC 0.66% of their portfolio Chattanooga, TN 141,589141.6k $5.0m $5.0m 0.66% Reduced -546 -546
84 Presper Financial Architects, LLC 3.68% of their portfolio AKRON, OH 140,321140.3k $5.0m $5.0m 3.68% First filing
85 Paragon Advisors, LLC 1.28% of their portfolio COLLEGE STATION, TX 139,461139.5k $4.9m $4.9m 1.28% Added +10.4k +10,372
86 CENTAURUS FINANCIAL, INC. 0.28% of their portfolio ANAHEIM, CA 135,837135.8k $4.8m $4.8m 0.28% Added +28.3k +28,263
87 Southland Equity Partners LLC 1.04% of their portfolio WILDWOOD, MO 134,514134.5k $4.7m $4.7m 1.04% Added +1.7k +1,700
88 Advisory Services Network, LLC 0.08% of their portfolio ATLANTA, GA 129,390129.4k $4.7m $4.7m 0.08% Added +5.3k +5,261
89 WCG Wealth Advisors LLC 0.29% of their portfolio LAS VEGAS, NV 128,687128.7k $4.5m $4.5m 0.29% Added +32.4k +32,413
90 Tanglewood Wealth Management, Inc. 0.44% of their portfolio HOUSTON, TX 127,588127.6k $4.5m $4.5m 0.44% Added +4.6k +4,644
91 Integrated Wealth Concepts LLC 0.04% of their portfolio WALTHAM, MA 124,740124.7k $4.4m $4.4m 0.04% Added +6.4k +6,445
92 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 116,736116.7k $4.1m $4.1m 0.01% Added +19.9k +19,874
93 Sprinkle Financial Consultants LLC 2.47% of their portfolio LITTLETON, CO 114,722114.7k $4.0m $4.0m 2.47% Added +27.4k +27,435
94 Focus Financial Network, Inc. 0.15% of their portfolio MINNEAPOLIS, MN 111,106111.1k $3.9m $3.9m 0.15% Reduced -2.4k -2,439
95 LIBERTY WEALTH MANAGEMENT LLC 0.61% of their portfolio OAKLAND, CA 109,914109.9k $3.9m $3.9m 0.61% Added +157 +157
96 Strategic Financial Concepts, LLC 0.52% of their portfolio SAN ANTONIO, TX 105,671105.7k $3.7m $3.7m 0.52% Added +7.9k +7,938
97 DAVENPORT & Co LLC 0.02% of their portfolio RICHMOND, VA 104,935104.9k $3.7m $3.7m 0.02% Added +12.7k +12,721
98 Stratos Wealth Partners, LTD. 0.05% of their portfolio BEACHWOOD, OH 103,040103.0k $3.6m $3.6m 0.05% Added +15.3k +15,336
99 SFM, LLC 2.31% of their portfolio MANCHESTER, NH 102,166102.2k $3.6m $3.6m 2.31% Added +86 +86
100 Vantage Financial Partners, LLC 0.82% of their portfolio ELM GROVE, WI 101,219101.2k $3.6m $3.6m 0.82% New