Vault-13

UNITED STS COMMODITY INDEX F CPER

CM REP COPP FD · ETP · CUSIP 911718104

79 institutional holders +11 vs Q1 2025
1,335,6871.3m shares reported held*
$42.3mreported value*
20 new 20 added 12 reduced 8 sold out net bought ≈ $2.8m (+88.4k 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 ≈ $31.67. Options: 7 managers hold calls ($4.8m notional), 8 hold puts ($9.1m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 44Q4 22: 53Q1 23: 50Q2 23: 47Q3 23: 47Q4 23: 48Q1 24: 51Q2 24: 64Q3 24: 62Q4 24: 61Q1 25: 68Q2 25: 7979Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202244
Q4 202253
Q1 202350
Q2 202347
Q3 202347
Q4 202348
Q1 202451
Q2 202464
Q3 202462
Q4 202461
Q1 202568
Q2 202579

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 14 bought or addedQ3 23: 23 cut or sold outQ4 23: 14 bought or addedQ4 23: 21 cut or sold outQ4 23Q1 24: 28 bought or addedQ1 24: 18 cut or sold outQ2 24: 35 bought or addedQ2 24: 22 cut or sold outQ2 24Q3 24: 26 bought or addedQ3 24: 26 cut or sold outQ4 24: 21 bought or addedQ4 24: 30 cut or sold outQ4 24Q1 25: 30 bought or addedQ1 25: 17 cut or sold outQ2 25: 40 bought or addedQ2 25: 20 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231423
Q4 20231421
Q1 20242818
Q2 20243522
Q3 20242626
Q4 20242130
Q1 20253017
Q2 20254020

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ3 24 calls: $18.4mQ3 24 puts: $4.5mQ3 24P/C 0.25Q4 24 calls: $3.4mQ4 24 puts: $2.0mQ4 24P/C 0.59Q1 25 calls: $9.6mQ1 25 puts: $4.0mQ1 25P/C 0.42Q2 25 calls: $4.8mQ2 25 puts: $9.1mQ2 25P/C 1.91
Numbers
QuarterCallsPutsP/C
Q3 2024$18.4m$4.5m0.25
Q4 2024$3.4m$2.0m0.59
Q1 2025$9.6m$4.0m0.42
Q2 2025$4.8m$9.1m1.91

Biggest buyers

FIG FINANCIAL ADVISORY SERVICES INC /ADV New +66,995+67.0k
Brookwood Investment Group LLC New +35,827+35.8k
LPL Financial LLC Added +25,409+25.4k
Mirae Asset Global Investments Co., Ltd. Added +21,000+21.0k
Cerity Partners LLC New +20,000+20.0k
IMC-Chicago, LLC New +14,811+14.8k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +14,628+14.6k
Kestra Advisory Services, LLC New +11,062+11.1k
Cetera Investment Advisers Added +11,054+11.1k
TCFG WEALTH MANAGEMENT, LLC Added +10,640+10.6k

Biggest sellers

JANE STREET GROUP, LLC Sold out -70,596-70.6k
AMERIPRISE FINANCIAL INC Reduced -23,244-23.2k
FLOW TRADERS U.S. LLC Sold out -23,057-23.1k
UBS Group AG Reduced -22,474-22.5k
BASSO CAPITAL MANAGEMENT, L.P. Reduced -21,000-21.0k
MORGAN STANLEY Reduced -10,590-10.6k
SIMPLEX TRADING, LLC Sold out -10,387-10.4k
Diligent Investors, LLC Sold out -8,425-8.4k
TD Waterhouse Canada Inc. Reduced -8,300-8.3k
BigSur Wealth Management LLC Reduced -6,600-6.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $2.0m62.2k shares
WOLVERINE TRADING, LLC Added $760.1k24.0k shares
CITADEL ADVISORS LLC Reduced $756.2k23.9k shares
IMC-Chicago, LLC Reduced $645.5k20.4k shares
GROUP ONE TRADING LLC Reduced $382.8k12.1k shares
SIMPLEX TRADING, LLC Reduced $246.0k7.8k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Added $4.0m125.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.0m94.9k shares
IMC-Chicago, LLC New $955.5k30.2k shares
SIMPLEX TRADING, LLC Added $522.0k16.5k shares
WOLVERINE TRADING, LLC Added $405.4k12.8k shares
LPL Financial LLC New $221.5k7.0k shares
GROUP ONE TRADING LLC Added $50.6k1.6k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 158,180158.2k $5.0m $5.0m 0.00% Added +25.4k +25,409
2 Arkadios Wealth Advisors 0.11% of their portfolio ATLANTA, GA 112,877112.9k $3.6m $3.6m 0.11% Added +3.0k +2,961
3 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 109,372109.4k $3.5m $3.5m 0.00% Added +4.4k +4,366
4 UBS Group AG 0.00% of their portfolio ZURICH, V8 77,67677.7k $2.5m $2.5m 0.00% Reduced -22.5k -22,474
5 FIG FINANCIAL ADVISORY SERVICES INC /ADV 1.42% of their portfolio OKLAHOMA CITY, OK 66,99567.0k $2.1m $2.1m 1.42% New
6 Knollwood Investment Advisory, LLC 0.17% of their portfolio HUNT VALLEY, MD 54,91854.9k $1.7m $1.7m 0.17% Unchanged
7 Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio SEOUL, M5 52,20052.2k $1.7m $1.7m 0.01% Added +21.0k +21,000
8 TD Waterhouse Canada Inc. 0.01% of their portfolio TORONTO, A6 50,31950.3k $1.6m $1.6m 0.01% Reduced -8.3k -8,300
9 B. Riley Wealth Advisors, Inc. 0.07% of their portfolio MEMPHIS, TN 43,47743.5k $1.4m $1.4m 0.07% Added +7.9k +7,940
10 TCFG WEALTH MANAGEMENT, LLC 0.59% of their portfolio LAGUNA NIGUEL, CA 41,06641.1k $1.3m $1.3m 0.59% Added +10.6k +10,640
11 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 39,91039.9k $1.3m $1.3m 0.00% Added +14.6k +14,628
12 Brookwood Investment Group LLC 0.18% of their portfolio PHOENIX, AZ 35,82735.8k $1.1m $1.1m 0.18% New
13 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 30,68430.7k $971.0k $971.0k 0.00% Added +6.0k +6,035
14 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 30,38430.4k $961.4k $961.4k 0.00% Added +1.7k +1,661
15 BigSur Wealth Management LLC 0.24% of their portfolio MIAMI, FL 30,33930.3k $959.9k $959.9k 0.24% Reduced -6.6k -6,600
16 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 28,29428.3k $895.2k $895.2k 0.00% Reduced -23.2k -23,244
17 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 27,66027.7k $875.2k $875.2k 0.00% Added +9.0k +9,000
18 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 27,21227.2k $860.0k $860.0k 0.00% Reduced -95 -95
19 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 20,38820.4k $645.1k $645.1k 0.00% Added +11.1k +11,054
20 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 20,00020.0k $632.8k $632.8k 0.00% New
21 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 19,26119.3k $609.4k $609.4k 0.00% Added +5.9k +5,933
22 Garde Capital, Inc. 0.03% of their portfolio SEATTLE, WA 16,51916.5k $522.7k $522.7k 0.03% Added +1.3k +1,323
23 IMC-Chicago, LLC 0.01% of their portfolio CHICAGO, IL 14,81114.8k $468.6k $468.6k 0.01% New
24 Pettinga Financial Advisors LLC 0.10% of their portfolio EVANSVILLE, IN 14,23714.2k $450.5k $450.5k 0.10% Added +150 +150
25 WHITTIER TRUST CO 0.01% of their portfolio SOUTH PASADENA, CA 14,00914.0k $443.1k $443.1k 0.01% Unchanged
26 Ignite Planners, LLC 0.08% of their portfolio SAN CLEMENTE, CA 13,88613.9k $481.3k $481.3k 0.08% Added +633 +633
27 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 13,54413.5k $428.5k $428.5k 0.00% Added +275 +275
28 WOLVERINE TRADING, LLC 0.01% of their portfolio CHICAGO, IL 12,88912.9k $408.2k $408.2k 0.01% Added +264 +264
29 ISTHMUS PARTNERS, LLC 0.05% of their portfolio MADISON, WI 12,80012.8k $405.0k $405.0k 0.05% Unchanged
30 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 12,24412.2k $387.0k $387.0k 0.00% Reduced -1.7k -1,730
31 BASSO CAPITAL MANAGEMENT, L.P. 0.27% of their portfolio STAMFORD, CT 11,60011.6k $367.0k $367.0k 0.27% Reduced -21.0k -21,000
32 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 11,06211.1k $350.0k $350.0k 0.00% New
33 Advisory Alpha, LLC 0.01% of their portfolio HOLLAND, MI 10,86910.9k $343.9k $343.9k 0.01% Reduced -45 -45
34 Herold Advisors, Inc. 0.07% of their portfolio New York, NY 10,80010.8k $341.7k $341.7k 0.07% Unchanged
35 Mutual Advisors, LLC 0.01% of their portfolio OMAHA, NE 9,8949.9k $354.6k $354.6k 0.01% New
36 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 9,1239.1k $289.0k $289.0k 0.00% Added +1.8k +1,769
37 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 8,5968.6k $272.0k $272.0k 0.00% Reduced -2.9k -2,895
38 FIDELIS CAPITAL PARTNERS, LLC 0.02% of their portfolio TAMPA, FL 7,9127.9k $217.3k $217.3k 0.02% Unchanged
39 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,4747.5k $236.5k $236.5k 0.00% Reduced -10.6k -10,590
40 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 7,0187.0k $222.1k $222.1k 0.00% New
41 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 6,9807.0k $220.8k $220.8k 0.00% Added +5.0k +5,000
42 HOEY INVESTMENTS, INC 0.02% of their portfolio COATESVILLE, PA 5,1505.2k $162.9k $162.9k 0.02% Unchanged
43 COMERICA BANK 0.00% of their portfolio DALLAS, TX 3,5103.5k $111.1k $111.1k 0.00% New
44 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 2,0002.0k $63.3k $63.3k 0.00% New
45 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 1,9381.9k $61.3k $61.3k 0.00% Unchanged
46 Kestra Investment Management, LLC 0.00% of their portfolio AUSTIN, TX 1,8051.8k $57.1k $57.1k 0.00% New
47 Tidemark, LLC 0.02% of their portfolio SAN DIEGO, CA 1,7641.8k $55.8k $55.8k 0.02% Unchanged
48 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 1,5431.5k $48.8k $48.8k 0.00% Unchanged
49 Cape Investment Advisory, Inc. 0.02% of their portfolio MCDONOUGH, GA 1,5001.5k $47.5k $47.5k 0.02% Unchanged
50 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 1,4641.5k $46.3k $46.3k 0.00% New
51 PRIVATE TRUST CO NA 0.00% of their portfolio CLEVELAND, OH 1,4141.4k $44.7k $44.7k 0.00% New
52 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,2001.2k $38.0k $38.0k 0.00% New
53 Clean Yield Group 0.01% of their portfolio NORWICH, VT 1,2001.2k $38.0k $38.0k 0.01% Unchanged
54 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,0001.0k $31.6k $31.6k 0.00% Added +800 +800
55 Kiker Wealth Management, LLC 0.02% of their portfolio JASPER, GA 1,0001.0k $31.6k $31.6k 0.02% New
56 AdvisorNet Financial, Inc 0.00% of their portfolio MINNETONKA, MN 900900 $28.5k $28.5k 0.00% Unchanged
57 HIGHLINE WEALTH PARTNERS LLC 0.01% of their portfolio SHERMAN OAKS, CA 800800 $25.3k $25.3k 0.01% New
58 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 740740 $23.4k $23.4k 0.00% Unchanged
59 Ameritas Advisory Services, LLC 0.00% of their portfolio Lincoln, NE 627627 $19.8k $19.8k 0.00% New
60 Vermillion Wealth Management, Inc. 0.01% of their portfolio ROSEMOUNT, MN 537537 $17.0k $17.0k 0.01% Reduced -481 -481
61 OGOREK ANTHONY JOSEPH /NY/ /ADV 0.00% of their portfolio WILLIAMSVILLE, NY 350350 $11.0k $11.0k 0.00% Unchanged
62 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.00% of their portfolio BLUE BELL, PA 343343 $10.9k $10.9k 0.00% Unchanged
63 Capital Analysts, LLC 0.00% of their portfolio FORT WASHINGTON, PA 284284 $9.0k $9.0k 0.00% Unchanged
64 Rialto Wealth Management, LLC 0.00% of their portfolio SYRACUSE, NY 238238 $7.5k $7.5k 0.00% Unchanged
65 SJS Investment Consulting Inc. 0.00% of their portfolio SYLVANIA, OH 227227 $7.2k $7.2k 0.00% Unchanged
66 IFS Advisors, LLC 0.00% of their portfolio OVERLAND PARK, KS 200200 $6.3k $6.3k 0.00% Unchanged
67 Evergreen Private Wealth LLC 0.00% of their portfolio GREENWOOD VILLAGE, CO 142142 $4.5k $4.5k 0.00% Unchanged
68 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.00% of their portfolio CINCINNATI, OH 120120 $3.8k $3.8k 0.00% Unchanged
69 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 9494 $3.0k $3.0k 0.00% Reduced -763 -763
70 Park Square Financial Group, LLC 0.00% of their portfolio ROSWELL, GA 8585 $2.7k $2.7k 0.00% Unchanged
71 Tradewinds Capital Management, LLC 0.00% of their portfolio BELLINGHAM, WA 6060 $1.9k $1.9k 0.00% Unchanged
72 ELEVATION POINT WEALTH PARTNERS, LLC 0.00% of their portfolio DENVER, CO 4848 $1.5k $1.5k 0.00% New
73 Copia Wealth Management 0.00% of their portfolio BEND, OR 4040 $1.3k $1.3k 0.00% New
74 JDM Financial Group LLC 0.00% of their portfolio AUSTIN, TX 3737 $1.2k $1.2k 0.00% New
75 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 1818 $570 $570 0.00% Unchanged
76 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 11 $32 $32 0.00% New
77 CWM, LLC 0.00% of their portfolio OMAHA, NE 11 $0 $0 0.00% Unchanged
78 CURIO WEALTH, LLC 0.00% of their portfolio ANNAPOLIS, MD 11 $32 $32 0.00% Unchanged
79 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged