Vault-13

TRUST FOR PROFESSIONAL MANAG APIE

ACTIVEPASSIVE EQ · ETP · CUSIP 89834G737

39 institutional holders -5 vs Q2 2025
27,360,14327.4m shares reported held*
$971.0mreported value*
5 new 10 added 21 reduced 6 sold out net sold ≈ $98.6m (-2.8m 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 ($458.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $35.49.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q2 23: 6Q3 23: 10Q4 23: 11Q1 24: 14Q2 24: 24Q3 24: 25Q4 24: 37Q1 25: 39Q2 25: 44Q3 25: 3939Q2 23Q4 23Q2 24Q4 24Q2 25Q3 25
Numbers
QuarterHolders
Q2 20236
Q3 202310
Q4 202311
Q1 202414
Q2 202424
Q3 202425
Q4 202437
Q1 202539
Q2 202544
Q3 202539

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 23: 7 bought or addedQ4 23: 2 cut or sold outQ1 24: 10 bought or addedQ1 24: 3 cut or sold outQ1 24Q2 24: 23 bought or addedQ2 24: 3 cut or sold outQ3 24: 22 bought or addedQ3 24: 8 cut or sold outQ3 24Q4 24: 27 bought or addedQ4 24: 10 cut or sold outQ1 25: 18 bought or addedQ1 25: 19 cut or sold outQ1 25Q2 25: 23 bought or addedQ2 25: 20 cut or sold outQ3 25: 15 bought or addedQ3 25: 27 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202372
Q1 2024103
Q2 2024233
Q3 2024228
Q4 20242710
Q1 20251819
Q2 20252320
Q3 20251527

Biggest buyers

PRINCIPAL SECURITIES, INC. Added +60,093+60.1k
PARK AVENUE SECURITIES LLC Added +13,926+13.9k
Modern Wealth Management, LLC New +12,913+12.9k
&PARTNERS Added +5,972+6.0k
HRT FINANCIAL LP New +5,776+5.8k
CITADEL ADVISORS LLC Added +5,643+5.6k
ROYAL BANK OF CANADA New +5,582+5.6k
JANE STREET GROUP, LLC Added +4,429+4.4k
Spire Wealth Management Added +4,094+4.1k
Global Retirement Partners, LLC New +4,045+4.0k

Biggest sellers

Envestnet Portfolio Solutions, Inc. Reduced -1,876,824-1.9m
ENVESTNET ASSET MANAGEMENT INC Reduced -780,104-780.1k
LPL Financial LLC Reduced -77,057-77.1k
Merit Financial Group, LLC Reduced -32,868-32.9k
Lion Street Advisors, LLC Sold out -30,701-30.7k
Mariner, LLC Reduced -27,573-27.6k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -22,955-23.0k
Kestra Investment Management, LLC Sold out -14,774-14.8k
MML INVESTORS SERVICES, LLC Reduced -9,563-9.6k
WEDBUSH SECURITIES INC Reduced -5,594-5.6k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Envestnet Portfolio Solutions, Inc. 1.74% of their portfolio BERWYN, PA 13,303,94813.3m $472.2m $472.2m 1.74% Reduced -1.9m -1,876,824
2 ENVESTNET ASSET MANAGEMENT INC 0.11% of their portfolio Berwyn, PA 10,461,86110.5m $371.3m $371.3m 0.11% Reduced -780.1k -780,104
3 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,238,3531.2m $43.9m $43.9m 0.01% Reduced -77.1k -77,057
4 PRINCIPAL SECURITIES, INC. 0.36% of their portfolio DES MOINES, IA 608,977609.0k $21.6m $21.6m 0.36% Added +60.1k +60,093
5 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 353,212353.2k $12.5m $12.5m 0.03% Reduced -9.6k -9,563
6 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 252,869252.9k $8.9m $8.9m 0.01% Reduced -4.0k -3,990
7 B. Riley Wealth Advisors, Inc. 0.34% of their portfolio MEMPHIS, TN 198,518198.5k $7.0m $7.0m 0.34% Reduced -3.7k -3,658
8 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 151,363151.4k $5.4m $5.4m 0.01% Added +1.7k +1,723
9 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 131,375131.4k $4.7m $4.7m 0.01% Reduced -23.0k -22,955
10 &PARTNERS 0.03% of their portfolio NASHVILLE, TN 123,270123.3k $4.4m $4.4m 0.03% Added +6.0k +5,972
11 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 119,190119.2k $4.2m $4.2m 0.00% Reduced -5.4k -5,353
12 Spire Wealth Management 0.10% of their portfolio MCLEAN, VA 81,94081.9k $2.9m $2.9m 0.10% Added +4.1k +4,094
13 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 80,52080.5k $2.9m $2.9m 0.02% Added +13.9k +13,926
14 Mariner, LLC 0.00% of their portfolio Overland Park, KS 45,12545.1k $1.6m $1.6m 0.00% Reduced -27.6k -27,573
15 WEDBUSH SECURITIES INC 0.05% of their portfolio PASADENA, CA 40,24940.2k $1.4m $1.4m 0.05% Reduced -5.6k -5,594
16 World Investment Advisors 0.02% of their portfolio LINCROFT, NJ 27,01127.0k $958.6k $958.6k 0.02% Reduced -3.9k -3,865
17 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 19,45319.5k $704.6k $704.6k 0.00% Added +1.9k +1,890
18 Financial Sense Advisors, Inc. 0.12% of their portfolio SAN DIEGO, CA 18,09918.1k $642.3k $642.3k 0.12% Reduced -2.0k -1,957
19 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 18,08318.1k $642.0k $642.0k 0.00% Reduced -1.0k -1,011
20 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 13,96714.0k $495.7k $495.7k 0.00% Added +4.4k +4,429
21 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 13,07013.1k $463.9k $463.9k 0.00% Added +5.6k +5,643
22 Modern Wealth Management, LLC 0.01% of their portfolio KANSAS CITY, MO 12,91312.9k $458.3k $458.3k 0.01% New
23 Sigma Planning Corp 0.01% of their portfolio ANN ARBOR, MI 9,3729.4k $332.6k $332.6k 0.01% Added +1.1k +1,056
24 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 7,3247.3k $259.9k $259.9k 0.00% Reduced -2.4k -2,373
25 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 6,0406.0k $214.4k $214.4k 0.00% Reduced -95 -95
26 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 6,0206.0k $213.7k $213.7k 0.00% Reduced -32.9k -32,868
27 COURIER CAPITAL LLC 0.01% of their portfolio BUFFALO, NY 5,8155.8k $206.4k $206.4k 0.01% Reduced -587 -587
28 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 5,7765.8k $204.0k $204.0k 0.00% New
29 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 5,5825.6k $198.0k $198.0k 0.00% New
30 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 4,0454.0k $143.6k $143.6k 0.00% New
31 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,9142.9k $103.4k $103.4k 0.00% Unchanged
32 Pinnacle Bancorp, Inc. 0.02% of their portfolio BEATRICE, NE 2,1342.1k $75.7k $75.7k 0.02% Reduced -239 -239
33 FMR LLC 0.00% of their portfolio BOSTON, MA 2,0592.1k $73.1k $73.1k 0.00% New
34 Capital Investment Advisory Services, LLC 0.00% of their portfolio RALEIGH, NC 1,3641.4k $48.4k $48.4k 0.00% Unchanged
35 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 682682 $24.2k $24.2k 0.00% Reduced -116 -116
36 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 225225 $8.0k $8.0k 0.00% Unchanged
37 UBS Group AG 0.00% of their portfolio ZURICH, V8 201201 $7.1k $7.1k 0.00% Reduced -199 -199
38 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 7676 $2.7k $2.7k 0.00% Reduced -7 -7
39 ORG Partners LLC 0.00% of their portfolio ROANOKE, IN 6161 $2.2k $2.2k 0.00% Added +9 +9