Vault-13

TWO RDS SHARED TR LSAF

LDRSHS ALPFACT · ETP · CUSIP 90214Q774

30 institutional holders +4 vs Q4 2022
4,488,8424.5m shares reported held*
$136.5mreported value*
6 new 11 added 10 reduced 2 sold out net bought ≈ $24.4m (+800.9k 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 ≈ $30.42.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 22Q4 22: 26Q1 23: 3030Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202222
Q4 202226
Q1 202330

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 15 bought or addedQ4 22: 7 cut or sold outQ4 22Q1 23: 17 bought or addedQ1 23: 12 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022157
Q1 20231712

Biggest buyers

Redwood Investment Management, LLC Added +642,976+643.0k
Perennial Investment Advisors, LLC New +157,217+157.2k
LPL Financial LLC Added +125,797+125.8k
Simplicity Solutions, LLC New +36,138+36.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +14,524+14.5k
Cambridge Investment Research Advisors, Inc. Added +12,231+12.2k
Private Advisor Group, LLC Added +11,303+11.3k
Claro Advisors Inc. New +10,455+10.5k
ENVESTNET ASSET MANAGEMENT INC Added +8,028+8.0k
Atria Wealth Solutions, Inc. Added +3,853+3.9k

Biggest sellers

Ford Financial Group, LLC Sold out -157,344-157.3k
AVANTAX ADVISORY SERVICES, INC. Reduced -35,464-35.5k
Financial Designs Corp Reduced -12,421-12.4k
CITADEL ADVISORS LLC Sold out -11,821-11.8k
Mariner, LLC Reduced -4,881-4.9k
Gladstone Institutional Advisory LLC Reduced -2,713-2.7k
Bleakley Financial Group, LLC Reduced -1,377-1.4k
OSAIC HOLDINGS, INC. Reduced -495-495
Coppell Advisory Solutions Corp. Reduced -367-367
Coppell Advisory Solutions LLC Reduced -367-367

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Redwood Investment Management, LLC 4.06% of their portfolio SCOTTSDALE, AZ 1,241,8881.2m $37.8m $37.8m 4.06% Added +643.0k +642,976
2 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 797,498797.5k $24.3m $24.3m 0.01% Added +8.0k +8,028
3 Financial Designs Corp 18.06% of their portfolio CLAREMONT, CA 795,180795.2k $24.2m $24.2m 18.06% Reduced -12.4k -12,421
4 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 538,299538.3k $16.4m $16.4m 0.01% Added +125.8k +125,797
5 AVANTAX ADVISORY SERVICES, INC. 0.07% of their portfolio DALLAS, TX 197,604197.6k $6.0m $6.0m 0.07% Reduced -35.5k -35,464
6 Mariner, LLC 0.01% of their portfolio Overland Park, KS 158,156158.2k $4.8m $4.8m 0.01% Reduced -4.9k -4,881
7 Perennial Investment Advisors, LLC 0.90% of their portfolio Los Angeles, CA 157,217157.2k $4.8m $4.8m 0.90% New
8 Atria Wealth Solutions, Inc. 0.05% of their portfolio NEW YORK, NY 115,889115.9k $3.5m $3.5m 0.05% Added +3.9k +3,853
9 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 105,116105.1k $3.2m $3.2m 0.03% Added +11.3k +11,303
10 Gladstone Institutional Advisory LLC 0.10% of their portfolio Bedminster, NJ 51,28151.3k $1.6m $1.6m 0.10% Reduced -2.7k -2,713
11 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 43,41343.4k $1.3m $1.3m 0.01% Added +366 +366
12 IHT Wealth Management, LLC 0.07% of their portfolio Chicago, IL 42,25342.3k $1.3m $1.3m 0.07% Added +3.7k +3,675
13 Simplicity Solutions, LLC 0.03% of their portfolio MINNEAPOLIS, MN 36,13836.1k $1.1m $1.1m 0.03% New
14 Bleakley Financial Group, LLC 0.04% of their portfolio PARSIPPANY, NJ 36,13836.1k $1.1m $1.1m 0.04% Reduced -1.4k -1,377
15 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 29,96330.0k $912.0k $912.0k 0.00% Added +12.2k +12,231
16 Coppell Advisory Solutions LLC 0.26% of their portfolio COPPELL, TX 26,20326.2k $784.5k $784.5k 0.26% Reduced -367 -367
17 Coppell Advisory Solutions Corp. 0.26% of their portfolio COPPELL, TX 26,20326.2k $784.5k $784.5k 0.26% Reduced -367 -367
18 Good Life Advisors, LLC 0.09% of their portfolio READING, PA 23,74323.7k $722.3k $722.3k 0.09% Reduced -302 -302
19 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 14,52414.5k $441.9k $441.9k 0.00% New
20 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 12,34612.3k $375.6k $375.6k 0.00% Reduced -495 -495
21 StoneX Group Inc. 0.04% of their portfolio NEW YORK, NY 10,80810.8k $328.8k $328.8k 0.04% Added +492 +492
22 Claro Advisors Inc. 0.09% of their portfolio BOSTON, MA 10,45510.5k $318.1k $318.1k 0.09% New
23 Aurora Private Wealth, Inc. 0.34% of their portfolio ROCKAWAY, NJ 10,37610.4k $316.0k $316.0k 0.34% Added +410 +410
24 Global Retirement Partners, LLC 0.01% of their portfolio San Rafael, CA 6,6486.6k $197.3k $197.3k 0.01% Added +699 +699
25 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 661661 $20.1k $20.1k 0.00% Unchanged
26 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 305305 $7.6k $7.6k 0.00% New
27 UBS Group AG 0.00% of their portfolio ZURICH, V8 272272 $8.3k $8.3k 0.00% Reduced -54 -54
28 PRIVATE TRUST CO NA 0.00% of their portfolio CLEVELAND, OH 263263 $8.0k $8.0k 0.00% Unchanged
29 FMR LLC 0.00% of their portfolio BOSTON, MA 22 $60 $60 0.00% New
30 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged