Vault-13

T ROWE PRICE ETF INC TCAF

CAP APPRECIATION · ETP · CUSIP 87283Q867

295 institutional holders +17 vs Q2 2025
112,602,355112.6m shares reported held*
$4.2bnreported value*
32 new 173 added 61 reduced 12 sold out net bought ≈ $523.1m (+13.9m 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 ($374.8k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $37.70.

Trends to Q3 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: 278Q3 25: 295295Q2 23Q4 23Q2 24Q4 24Q2 25Q3 25
Numbers
QuarterHolders
Q2 202312
Q3 202349
Q4 2023124
Q1 2024165
Q2 2024204
Q3 2024214
Q4 2024248
Q1 2025255
Q2 2025278
Q3 2025295

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 23: 104 bought or addedQ4 23: 12 cut or sold outQ1 24: 136 bought or addedQ1 24: 28 cut or sold outQ1 24Q2 24: 160 bought or addedQ2 24: 34 cut or sold outQ3 24: 163 bought or addedQ3 24: 44 cut or sold outQ3 24Q4 24: 185 bought or addedQ4 24: 43 cut or sold outQ1 25: 196 bought or addedQ1 25: 63 cut or sold outQ1 25Q2 25: 199 bought or addedQ2 25: 74 cut or sold outQ3 25: 205 bought or addedQ3 25: 73 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202310412
Q1 202413628
Q2 202416034
Q3 202416344
Q4 202418543
Q1 202519663
Q2 202519974
Q3 202520573

Biggest buyers

JPMORGAN CHASE & CO Added +4,095,247+4.1m
LPL Financial LLC Added +2,230,501+2.2m
PRICE T ROWE ASSOCIATES INC /MD/ Added +1,752,367+1.8m
AMERIPRISE FINANCIAL INC Added +1,164,191+1.2m
COMMONWEALTH EQUITY SERVICES, LLC Added +730,560+730.6k
WELLS FARGO & COMPANY/MN Added +689,043+689.0k
RAYMOND JAMES FINANCIAL INC Added +526,810+526.8k
SageView Advisory Group, LLC New +498,254+498.3k
OSAIC HOLDINGS, INC. Added +375,900+375.9k
Cetera Investment Advisers Added +304,280+304.3k

Biggest sellers

ROYAL BANK OF CANADA Reduced -1,944,668-1.9m
Rockefeller Capital Management L.P. Reduced -301,816-301.8k
VOYA INVESTMENT MANAGEMENT LLC Reduced -211,658-211.7k
Presper Financial Architects, LLC Reduced -115,681-115.7k
TTP Investments, Inc. Reduced -95,441-95.4k
DIVERSIFIED TRUST CO Sold out -89,748-89.7k
ENVESTNET ASSET MANAGEMENT INC Reduced -65,962-66.0k
FINANCIAL CONSULATE, INC Reduced -58,270-58.3k
Envestnet Portfolio Solutions, Inc. Sold out -29,395-29.4k
Beaumont Financial Advisors, LLC Reduced -22,406-22.4k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 PRICE T ROWE ASSOCIATES INC /MD/ 0.07% of their portfolio BALTIMORE, MD 17,269,58217.3m $652.2m $652.2m 0.07% Added +1.8m +1,752,367
2 LPL Financial LLC 0.14% of their portfolio FORT MILL, SC 12,959,19413.0m $488.6m $488.6m 0.14% Added +2.2m +2,230,501
3 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 5,878,1655.9m $221.6m $221.6m 0.07% Added +526.8k +526,810
4 COMMONWEALTH EQUITY SERVICES, LLC 0.24% of their portfolio WALTHAM, MA 4,993,2705.0m $188.2m $188.2m 0.24% Added +730.6k +730,560
5 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,153,3344.2m $156.6m $156.6m 0.00% Added +4.1m +4,095,247
6 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 3,289,1723.3m $124.0m $124.0m 0.03% Added +689.0k +689,043
7 OSAIC HOLDINGS, INC. 0.16% of their portfolio SCOTTSDALE, AZ 3,164,3793.2m $117.1m $117.1m 0.16% Added +375.9k +375,900
8 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,051,2823.1m $115.0m $115.0m 0.01% Added +276.5k +276,544
9 Baird Financial Group, Inc. 0.17% of their portfolio MILWAUKEE, WI 2,765,8512.8m $104.3m $104.3m 0.17% Added +40.4k +40,357
10 VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio ATLANTA, GA 2,551,2012.6m $96.2m $96.2m 0.10% Reduced -211.7k -211,658
11 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 2,323,2142.3m $87.6m $87.6m 0.02% Reduced -1.9m -1,944,668
12 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.11% of their portfolio PLYMOUTH, MN 1,974,3182.0m $75.7m $75.7m 0.11% Added +194.7k +194,722
13 Cambridge Investment Research Advisors, Inc. 0.19% of their portfolio FAIRFIELD, IA 1,845,6451.8m $69.6m $69.6m 0.19% Added +80.1k +80,062
14 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,814,1411.8m $68.4m $68.4m 0.01% Reduced -14.5k -14,517
15 TTP Investments, Inc. 17.16% of their portfolio San Jose, CA 1,557,9911.6m $59.2m $59.2m 17.16% Reduced -95.4k -95,441
16 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,445,2101.4m $54.5m $54.5m 0.00% Added +235.1k +235,060
17 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 1,429,2661.4m $53.9m $53.9m 0.05% Added +32.0k +32,010
18 CPC Advisors, LLC 5.39% of their portfolio Atlanta, GA 1,355,8511.4m $51.1m $51.1m 5.39% Reduced -130 -130
19 JONES FINANCIAL COMPANIES LLLP 0.03% of their portfolio DES PERES, MO 1,306,5961.3m $48.7m $48.7m 0.03% Added +274.9k +274,915
20 Modern Wealth Management, LLC 0.96% of their portfolio KANSAS CITY, MO 1,286,9421.3m $48.5m $48.5m 0.96% Added +8.6k +8,633
21 Mesirow Financial Investment Management, Inc. 0.86% of their portfolio CHICAGO, IL 1,271,9151.3m $48.0m $48.0m 0.86% Added +298.6k +298,603
22 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,170,7011.2m $44.1m $44.1m 0.01% Added +1.2m +1,164,191
23 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 1,081,3111.1m $40.8m $40.8m 0.05% Added +304.3k +304,280
24 McCarthy & Cox 8.88% of their portfolio MARYSVILLE, OH 1,032,1161.0m $38.9m $38.9m 8.88% Added +5.7k +5,697
25 LEVEL FOUR ADVISORY SERVICES, LLC 1.24% of their portfolio DALLAS, TX 957,972958.0k $36.1m $36.1m 1.24% Added +43.3k +43,266
26 CORA CAPITAL ADVISORS LLC 13.62% of their portfolio MARLTON, NJ 849,737849.7k $32.0m $32.0m 13.62% Added +36.8k +36,775
27 PYA Waltman Capital, LLC 8.49% of their portfolio KNOXVILLE, TN 840,246840.2k $31.7m $31.7m 8.49% Added +117.0k +117,050
28 GREAT VALLEY ADVISOR GROUP, INC. 0.59% of their portfolio WILMINGTON, DE 785,284785.3k $29.6m $29.6m 0.59% Added +190.1k +190,120
29 OneDigital Investment Advisors LLC 0.29% of their portfolio OVERLAND PARK, KS 759,005759.0k $28.6m $28.6m 0.29% Reduced -20.9k -20,884
30 UBS Group AG 0.01% of their portfolio ZURICH, V8 743,689743.7k $28.0m $28.0m 0.01% Added +63.9k +63,852
31 Souders Financial Advisors 3.25% of their portfolio CINCINNATI, OH 725,126725.1k $27.3m $27.3m 3.25% Reduced -1.5k -1,519
32 Kestra Advisory Services, LLC 0.12% of their portfolio AUSTIN, TX 682,049682.0k $25.7m $25.7m 0.12% Added +214.4k +214,392
33 Private Advisor Group, LLC 0.12% of their portfolio MORRISTOWN, NJ 638,657638.7k $24.1m $24.1m 0.12% Added +61.0k +61,029
34 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 567,578567.6k $21.4m $21.4m 0.01% Added +25.7k +25,653
35 McCarthy Asset Management, Inc. 13.10% of their portfolio REDWOOD SHORES, CA 541,172541.2k $20.4m $20.4m 13.10% Added +1.5k +1,501
36 Cornerstone Advisory, LLC 2.00% of their portfolio HUNT VALLEY, MD 540,034540.0k $20.4m $20.4m 2.00% Added +2.7k +2,733
37 ADE, LLC 10.10% of their portfolio BALTIMORE, MD 530,156530.2k $20.0m $20.0m 10.10% Added +20.9k +20,950
38 Beaumont Financial Advisors, LLC 1.33% of their portfolio NEEDHAM, MA 528,863528.9k $19.9m $19.9m 1.33% Reduced -22.4k -22,406
39 SageView Advisory Group, LLC 0.65% of their portfolio Newport Beach, CA 498,254498.3k $18.8m $18.8m 0.65% New
40 FINANCIAL CONSULATE, INC 2.43% of their portfolio HUNT VALLEY, MD 456,491456.5k $17.2m $17.2m 2.43% Reduced -58.3k -58,270
41 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 437,535437.5k $16.5m $16.5m 0.04% Added +40.1k +40,144
42 EASTERN BANK 0.28% of their portfolio BOSTON, MA 418,955419.0k $15.8m $15.8m 0.28% Added +21.3k +21,326
43 Ausdal Financial Partners, Inc. 0.72% of their portfolio Davenport, IA 394,514394.5k $14.9m $14.9m 0.72% Added +50.0k +50,045
44 Composition Wealth, LLC 0.22% of their portfolio LOS ANGELES, CA 382,340382.3k $14.4m $14.4m 0.22% Added +24.1k +24,063
45 DKM Wealth Management, Inc. 11.51% of their portfolio STOCKTON, CA 380,398380.4k $14.3m $14.3m 11.51% Reduced -7.5k -7,465
46 D.A. DAVIDSON & CO. 0.09% of their portfolio GREAT FALLS, MT 375,409375.4k $14.2m $14.2m 0.09% Added +57.4k +57,394
47 National Wealth Management Group, LLC 5.20% of their portfolio CINCINNATI, OH 366,030366.0k $13.8m $13.8m 5.20% Added +40.1k +40,083
48 Capital Analysts, LLC 0.40% of their portfolio FORT WASHINGTON, PA 360,040360.0k $13.6m $13.6m 0.40% Added +76.3k +76,297
49 MENORA MIVTACHIM HOLDINGS LTD. 0.07% of their portfolio Ramat Gan, L3 354,329354.3k $13.4m $13.4m 0.07% Added +28.6k +28,602
50 IFG Advisory, LLC 0.61% of their portfolio ATLANTA, GA 353,389353.4k $13.3m $13.3m 0.61% Added +53.6k +53,595
51 ARS Wealth Advisors Group, LLC 1.31% of their portfolio St. Petersburg, FL 351,766351.8k $13.3m $13.3m 1.31% Added +31.9k +31,877
52 Principle Wealth Partners LLC 0.75% of their portfolio MADISON, CT 343,136343.1k $12.9m $12.9m 0.75% Added +8.7k +8,656
53 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 338,026338.0k $12.7m $12.7m 0.02% Reduced -301.8k -301,816
54 Prospera Financial Services Inc 0.21% of their portfolio Dallas, TX 331,316331.3k $12.5m $12.5m 0.21% Reduced -5.8k -5,771
55 PARSONS CAPITAL MANAGEMENT INC/RI 0.69% of their portfolio PROVIDENCE, RI 323,038323.0k $12.2m $12.2m 0.69% Added +2.6k +2,631
56 Arcus Capital Partners, LLC 5.29% of their portfolio ATLANTA, GA 320,867320.9k $12.1m $12.1m 5.29% Added +9.5k +9,538
57 Harfst & Associates, Inc. 2.23% of their portfolio Sheridan, WY 320,804320.8k $12.1m $12.1m 2.23% Added +10.4k +10,432
58 Forge Financial Services LLC 5.61% of their portfolio EDMOND, OK 315,045315.0k $12.0m $12.0m 5.61% Added +24.7k +24,717
59 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 301,261301.3k $11.4m $11.4m 0.00% Reduced -66.0k -65,962
60 Waverly Advisors, LLC 0.11% of their portfolio BIRMINGHAM, AL 299,659299.7k $11.3m $11.3m 0.11% Added +39.5k +39,522
61 Onyx Bridge Wealth Group LLC 1.20% of their portfolio TARRYTOWN, NY 292,220292.2k $11.0m $11.0m 1.20% Added +13.2k +13,167
62 Allworth Financial LP 0.05% of their portfolio FOLSOM, CA 286,735286.7k $10.8m $10.8m 0.05% Added +17.1k +17,115
63 MTM Investment Management, LLC 3.43% of their portfolio SPARTANBURG, SC 285,990286.0k $10.8m $10.8m 3.43% Reduced -3.0k -2,977
64 4J Wealth Management LLC 5.93% of their portfolio MCLEAN, VA 267,584267.6k $10.1m $10.1m 5.93% Added +13.1k +13,117
65 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 253,900253.9k $9.6m $9.6m 0.01% Added +24.3k +24,335
66 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.59% of their portfolio CEDAR RAPIDS, IA 249,238249.2k $9.4m $9.4m 0.59% Added +10.5k +10,472
67 CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio RALEIGH, NC 247,691247.7k $9.3m $9.3m 0.02% Added +32.1k +32,089
68 Keystone Financial Group 0.71% of their portfolio LEXINGTON, KY 246,553246.6k $9.3m $9.3m 0.71% Added +6.2k +6,191
69 Beacon Financial Advisory LLC 2.13% of their portfolio CLEVELAND, OH 244,357244.4k $9.2m $9.2m 2.13% Added +39.1k +39,054
70 World Investment Advisors 0.19% of their portfolio LINCROFT, NJ 242,950242.9k $9.2m $9.2m 0.19% Added +11.8k +11,849
71 Ledyard National Bank 0.77% of their portfolio HANOVER, NH 229,399229.4k $8.6m $8.6m 0.77% Added +8.0k +8,032
72 Garden State Investment Advisory Services LLC 2.09% of their portfolio Red Bank, NJ 218,579218.6k $8.2m $8.2m 2.09% Added +11.9k +11,913
73 CERTIOR FINANCIAL GROUP, LLC 5.59% of their portfolio KING OF PRUSSIA, PA 218,274218.3k $8.2m $8.2m 5.59% Added +8.6k +8,606
74 Essex Financial Services, Inc. 0.45% of their portfolio ESSEX, CT 200,418200.4k $7.6m $7.6m 0.45% Added +53.1k +53,137
75 Stratos Wealth Advisors, LLC 0.36% of their portfolio BEACHWOOD, OH 196,546196.5k $7.4m $7.4m 0.36% Added +36.5k +36,466
76 Fortis Group Advisors, LLC 1.25% of their portfolio WESTWOOD, NJ 187,399187.4k $7.2m $7.2m 1.25% Reduced -3.5k -3,544
77 Carson Advisory Inc. 3.78% of their portfolio ATHENS, GA 185,980186.0k $7.0m $7.0m 3.78% Added +20.8k +20,836
78 NCM Capital Management, LLC 2.61% of their portfolio RAMSEY, NJ 178,481178.5k $6.7m $6.7m 2.61% Added +9.4k +9,359
79 WCG Wealth Advisors LLC 0.41% of their portfolio LAS VEGAS, NV 174,267174.3k $6.6m $6.6m 0.41% Added +45.6k +45,580
80 Financial Security Advisor, Inc. 1.38% of their portfolio VIRGINIA BEACH, VA 172,279172.3k $6.5m $6.5m 1.38% Reduced -463 -463
81 Global Retirement Partners, LLC 0.14% of their portfolio San Rafael, CA 171,058171.1k $6.4m $6.4m 0.14% Reduced -11.9k -11,909
82 THOROUGHBRED FINANCIAL SERVICES, LLC 0.39% of their portfolio BRENTWOOD, TN 166,194166.2k $6.3m $6.3m 0.39% Added +75.3k +75,283
83 EXCHANGE TRADED CONCEPTS, LLC 0.06% of their portfolio Oklahoma City, OK 164,889164.9k $6.2m $6.2m 0.06% Reduced -837 -837
84 Chemistry Wealth Management LLC 1.19% of their portfolio NEW YORK, NY 163,524163.5k $6.2m $6.2m 1.19% Added +8.4k +8,435
85 V2 Financial group LLC 3.19% of their portfolio NAPERVILLE, IL 152,690152.7k $5.8m $5.8m 3.19% Added +1.3k +1,330
86 Founders Financial Alliance, LLC 1.08% of their portfolio RALEIGH, NC 151,858151.9k $5.7m $5.7m 1.08% Added +143.1k +143,149
87 Integrated Wealth Concepts LLC 0.05% of their portfolio WALTHAM, MA 149,539149.5k $5.6m $5.6m 0.05% Added +24.8k +24,799
88 Sharkey, Howes & Javer 0.71% of their portfolio DENVER, CO 146,498146.5k $5.5m $5.5m 0.71% Unchanged
89 CENTAURUS FINANCIAL, INC. 0.25% of their portfolio ANAHEIM, CA 140,607140.6k $5.3m $5.3m 0.25% Added +4.8k +4,770
90 Southland Equity Partners LLC 1.04% of their portfolio WILDWOOD, MO 135,746135.7k $5.1m $5.1m 1.04% Added +1.2k +1,232
91 Tanglewood Wealth Management, Inc. 0.46% of their portfolio HOUSTON, TX 132,154132.2k $5.0m $5.0m 0.46% Added +4.6k +4,566
92 ECLECTIC ASSOCIATES INC /ADV 0.91% of their portfolio FULLERTON, CA 131,977132.0k $5.0m $5.0m 0.91% Added +32.2k +32,212
93 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 130,074130.1k $4.9m $4.9m 0.01% Added +13.3k +13,338
94 Patton Albertson Miller Group, LLC 0.59% of their portfolio Chattanooga, TN 129,993130.0k $4.9m $4.9m 0.59% Reduced -11.6k -11,596
95 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 128,936128.9k $4.9m $4.9m 0.02% Added +39.9k +39,870
96 Paragon Advisors, LLC 1.25% of their portfolio COLLEGE STATION, TX 128,379128.4k $4.8m $4.8m 1.25% Reduced -11.1k -11,082
97 Advisory Services Network, LLC 0.07% of their portfolio ATLANTA, GA 126,719126.7k $4.8m $4.8m 0.07% Reduced -2.7k -2,671
98 Atlas Wealth LLC 1.48% of their portfolio CINCINNATI, OH 121,829121.8k $4.6m $4.6m 1.48% Added +29.6k +29,632
99 Focus Financial Network, Inc. 0.16% of their portfolio MINNEAPOLIS, MN 121,715121.7k $4.6m $4.6m 0.16% Added +10.6k +10,609
100 DAVENPORT & Co LLC 0.02% of their portfolio RICHMOND, VA 120,397120.4k $4.5m $4.5m 0.02% Added +15.5k +15,462