Vault-13

VANECK ETF TRUST BIZD

BDC INCOME ETF · ETP · CUSIP 92189F411

236 institutional holders +19 vs Q1 2025
36,170,43836.2m shares reported held*
$588.8mreported value*
36 new 101 added 59 reduced 17 sold out net bought ≈ $79.7m (+4.9m 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 ($494.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $16.28. Options: 1 managers hold calls ($434.7k notional), 2 hold puts ($1.2m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 127Q4 22: 133Q1 23: 132Q2 23: 146Q3 23: 153Q4 23: 162Q1 24: 178Q2 24: 196Q3 24: 188Q4 24: 224Q1 25: 217Q2 25: 236236Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022127
Q4 2022133
Q1 2023132
Q2 2023146
Q3 2023153
Q4 2023162
Q1 2024178
Q2 2024196
Q3 2024188
Q4 2024224
Q1 2025217
Q2 2025236

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 78 bought or addedQ3 23: 48 cut or sold outQ4 23: 83 bought or addedQ4 23: 67 cut or sold outQ4 23Q1 24: 100 bought or addedQ1 24: 59 cut or sold outQ2 24: 120 bought or addedQ2 24: 56 cut or sold outQ2 24Q3 24: 105 bought or addedQ3 24: 76 cut or sold outQ4 24: 129 bought or addedQ4 24: 57 cut or sold outQ4 24Q1 25: 122 bought or addedQ1 25: 86 cut or sold outQ2 25: 137 bought or addedQ2 25: 76 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20237848
Q4 20238367
Q1 202410059
Q2 202412056
Q3 202410576
Q4 202412957
Q1 202512286
Q2 202513776

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ3 24 calls: $94.4kQ3 24 puts: $947.2kQ3 24P/C 10.04Q4 24 calls: $325.9kQ4 24 puts: $490.6kQ4 24P/C 1.51Q1 25 calls: $724.0kQ1 25 puts: $631.9kQ1 25P/C 0.87Q2 25 calls: $434.7kQ2 25 puts: $1.2mQ2 25P/C 2.80
Numbers
QuarterCallsPutsP/C
Q3 2024$94.4k$947.2k10.04
Q4 2024$325.9k$490.6k1.51
Q1 2025$724.0k$631.9k0.87
Q2 2025$434.7k$1.2m2.80

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +2,038,234+2.0m
ROYAL BANK OF CANADA Added +571,511+571.5k
WELLS FARGO & COMPANY/MN Added +531,144+531.1k
BARD ASSOCIATES INC Added +456,480+456.5k
Clark Capital Management Group, Inc. Added +413,300+413.3k
VAN ECK ASSOCIATES CORP Added +333,607+333.6k
Naviter Wealth, LLC Added +277,663+277.7k
MORGAN STANLEY Added +227,622+227.6k
NewEdge Advisors, LLC Added +193,958+194.0k
FLPUTNAM INVESTMENT MANAGEMENT CO Added +182,743+182.7k

Biggest sellers

NAN FUNG TRINITY (HK) LTD Sold out -474,800-474.8k
UBS Group AG Reduced -435,303-435.3k
TWO SIGMA INVESTMENTS, LP Sold out -293,400-293.4k
TOWNSQUARE CAPITAL LLC Reduced -233,202-233.2k
TrueMark Investments, LLC Sold out -224,919-224.9k
OMERS ADMINISTRATION Corp Sold out -131,800-131.8k
LPL Financial LLC Reduced -127,289-127.3k
Steward Partners Investment Advisory, LLC Reduced -117,199-117.2k
Qube Research & Technologies Ltd Reduced -76,100-76.1k
Consolidated Portfolio Review Corp Reduced -45,484-45.5k

Biggest calls

CITADEL ADVISORS LLC Reduced $434.7k26.7k shares

Biggest puts

CITADEL ADVISORS LLC Added $890.5k54.7k shares
Belvedere Trading LLC New $325.6k20.0k 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.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 5,295,2655.3m $86.2m $86.2m 0.01% Added +2.0m +2,038,234
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,698,7104.7m $76.5m $76.5m 0.00% Added +227.6k +227,622
3 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 2,670,5332.7m $43.5m $43.5m 0.01% Reduced -127.3k -127,289
4 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,143,9362.1m $34.9m $34.9m 0.01% Added +531.1k +531,144
5 INDEPENDENT FINANCIAL GROUP, LLC 0.47% of their portfolio SAN DIEGO, CA 1,043,4441.0m $17.0m $17.0m 0.47% Added +126.5k +126,466
6 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,037,8501.0m $16.9m $16.9m 0.00% Added +571.5k +571,511
7 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,029,6661.0m $16.8m $16.8m 0.00% Reduced -435.3k -435,303
8 Mission Hills Financial Advisory, LLC 10.10% of their portfolio SAN DIEGO, CA 999,233999.2k $16.3m $16.3m 10.10% Added +133.6k +133,636
9 CONDOR CAPITAL MANAGEMENT 1.17% of their portfolio MARTINSVILLE, NJ 830,944830.9k $13.5m $13.5m 1.17% Added +16.5k +16,519
10 Haven Private, LLC 4.46% of their portfolio ORLANDO, FL 618,099618.1k $10.1m $10.1m 4.46% Added +19.3k +19,309
11 Kestra Advisory Services, LLC 0.05% of their portfolio AUSTIN, TX 568,118568.1k $9.2m $9.2m 0.05% Added +96.8k +96,820
12 Clark Capital Management Group, Inc. 0.06% of their portfolio PHILADELPHIA, PA 541,456541.5k $8.8m $8.8m 0.06% Added +413.3k +413,300
13 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 538,746538.7k $8.8m $8.8m 0.02% Added +17.4k +17,409
14 BARD ASSOCIATES INC 2.63% of their portfolio CHICAGO, IL 501,955502.0k $8.2m $8.2m 2.63% Added +456.5k +456,480
15 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 463,259463.3k $7.5m $7.5m 0.01% Added +23.9k +23,889
16 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 422,682422.7k $6.9m $6.9m 0.00% Added +7.7k +7,666
17 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 407,803407.8k $6.6m $6.6m 0.00% Added +120.8k +120,810
18 NewEdge Advisors, LLC 0.03% of their portfolio NEW ORLEANS, LA 380,160380.2k $6.2m $6.2m 0.03% Added +194.0k +193,958
19 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 375,874375.9k $6.1m $6.1m 0.01% Added +3.7k +3,740
20 Steward Partners Investment Advisory, LLC 0.04% of their portfolio STAMFORD, CT 351,595351.6k $5.7m $5.7m 0.04% Reduced -117.2k -117,199
21 Hilltop Holdings Inc. 0.36% of their portfolio DALLAS, TX 342,178342.2k $5.6m $5.6m 0.36% Added +14.6k +14,594
22 Naviter Wealth, LLC 0.68% of their portfolio LITTLE ROCK, AR 337,401337.4k $5.5m $5.5m 0.68% Added +277.7k +277,663
23 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 334,254334.3k $5.4m $5.4m 0.01% Added +333.6k +333,607
24 Foundations Investment Advisors, LLC 0.08% of their portfolio PHOENIX, AZ 305,454305.5k $5.0m $5.0m 0.08% Reduced -41.3k -41,322
25 Mariner, LLC 0.01% of their portfolio Overland Park, KS 300,265300.3k $4.9m $4.9m 0.01% Added +28.8k +28,779
26 FLPUTNAM INVESTMENT MANAGEMENT CO 0.07% of their portfolio PORTLAND, ME 259,429259.4k $4.2m $4.2m 0.07% Added +182.7k +182,743
27 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 244,717244.7k $4.0m $4.0m 0.03% Added +48.9k +48,910
28 Graypoint LLC 0.22% of their portfolio Albany, NY 243,401243.4k $4.0m $4.0m 0.22% Added +102.2k +102,228
29 BARINGS LLC 0.09% of their portfolio CHARLOTTE, NC 236,283236.3k $3.8m $3.8m 0.09% Unchanged
30 Arkadios Wealth Advisors 0.11% of their portfolio ATLANTA, GA 220,148220.1k $3.6m $3.6m 0.11% Added +23.5k +23,491
31 CENTAURUS FINANCIAL, INC. 0.20% of their portfolio ANAHEIM, CA 212,322212.3k $3.5m $3.5m 0.20% Added +14.3k +14,293
32 Shilanski & Associates, Inc. 0.94% of their portfolio ANCHORAGE, AK 203,050203.1k $3.3m $3.3m 0.94% Added +3.0k +3,041
33 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.05% of their portfolio New York, NY 196,827196.8k $3.2m $3.2m 0.05% Added +17.5k +17,490
34 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 187,613187.6k $3.1m $3.1m 0.01% Reduced -12.6k -12,563
35 FINANCIAL MANAGEMENT NETWORK INC 0.54% of their portfolio MISSION VIEJO, CA 184,226184.2k $3.0m $3.0m 0.54% Added +5.9k +5,858
36 Stratos Wealth Partners, LTD. 0.04% of their portfolio BEACHWOOD, OH 178,526178.5k $2.9m $2.9m 0.04% Reduced -10.2k -10,181
37 Delta Investment Management, LLC 0.56% of their portfolio SAN FRANCISCO, CA 178,328178.3k $2.9m $2.9m 0.56% Added +16.2k +16,247
38 MGO ONE SEVEN LLC 0.09% of their portfolio Beachwood, OH 167,093167.1k $2.7m $2.7m 0.09% Added +22.7k +22,673
39 J.W. COLE ADVISORS, INC. 0.06% of their portfolio TAMPA, FL 159,680159.7k $2.6m $2.6m 0.06% Added +2.2k +2,166
40 Cynosure Group, LLC 0.29% of their portfolio Salt Lake City, UT 156,439156.4k $2.5m $2.5m 0.29% Added +3.2k +3,207
41 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 143,563143.6k $2.3m $2.3m 0.00% Added +130.9k +130,875
42 Measured Risk Portfolios, Inc. 2.57% of their portfolio SAN DIEGO, CA 141,323141.3k $2.3m $2.3m 2.57% Added +2.6k +2,647
43 Samalin Investment Counsel, LLC 0.87% of their portfolio CHAPPAQUA, NY 138,597138.6k $2.3m $2.3m 0.87% Added +1.2k +1,165
44 Beacon Pointe Advisors, LLC 0.02% of their portfolio NEWPORT BEACH, CA 138,018138.0k $2.2m $2.2m 0.02% New
45 AdvisorNet Financial, Inc 0.14% of their portfolio MINNETONKA, MN 137,204137.2k $2.2m $2.2m 0.14% Reduced -8.5k -8,537
46 WEDBUSH SECURITIES INC 0.07% of their portfolio PASADENA, CA 129,283129.3k $2.1m $2.1m 0.07% Added +4.8k +4,791
47 CreativeOne Wealth, LLC 0.05% of their portfolio OVERLAND PARK, KS 127,595127.6k $2.1m $2.1m 0.05% Reduced -15.3k -15,343
48 AVANTAX ADVISORY SERVICES, INC. 0.01% of their portfolio DALLAS, TX 127,289127.3k $2.1m $2.1m 0.01% Added +12.5k +12,461
49 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 123,164123.2k $2.0m $2.0m 0.02% New
50 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 120,429120.4k $2.0m $2.0m 0.00% Added +12.0k +12,002
51 Stonebridge Financial Planning Group, LLC 0.82% of their portfolio ORLANDO, FL 120,356120.4k $2.0m $2.0m 0.82% Added +22.6k +22,601
52 Ameritas Advisory Services, LLC 0.10% of their portfolio Lincoln, NE 119,592119.6k $1.9m $1.9m 0.10% New
53 SAX WEALTH ADVISORS, LLC 0.11% of their portfolio PARSIPPANY, NJ 112,475112.5k $1.8m $1.8m 0.11% Added +34.3k +34,296
54 KINGSWOOD WEALTH ADVISORS, LLC 0.14% of their portfolio SAN DIEGO, CA 111,727111.7k $1.8m $1.8m 0.14% Added +13.2k +13,172
55 Investment Partners Asset Management, Inc. 1.20% of their portfolio METUCHEN, NJ 106,353106.4k $1.7m $1.7m 1.20% Added +2.1k +2,116
56 BRIDGES INVESTMENT MANAGEMENT INC 0.02% of their portfolio OMAHA, NE 105,767105.8k $1.7m $1.7m 0.02% Added +9.0k +9,015
57 HOWARD WEALTH MANAGEMENT, LLC 0.83% of their portfolio Madison, CT 100,873100.9k $1.6m $1.6m 0.83% Added +22.0k +21,975
58 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 99,63399.6k $1.6m $1.6m 0.00% Reduced -12.0k -11,989
59 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 98,38498.4k $1.6m $1.6m 0.02% Added +4.1k +4,089
60 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 97,70697.7k $1.6m $1.6m 0.00% Reduced -5.7k -5,706
61 Spire Wealth Management 0.06% of their portfolio MCLEAN, VA 95,44595.4k $1.6m $1.6m 0.06% Added +3.2k +3,195
62 J.Safra Asset Management Corp 0.10% of their portfolio NEW YORK, NY 92,07792.1k $1.5m $1.5m 0.10% New
63 Gibbs Wealth Management 0.29% of their portfolio Alpharetta, GA 91,30191.3k $1.5m $1.5m 0.29% Added +5.2k +5,165
64 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 90,45390.5k $1.5m $1.5m 0.00% Reduced -23.1k -23,118
65 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio ORLANDO, FL 89,14689.1k $1.5m $1.5m 0.12% Added +22.6k +22,600
66 Future Financial Wealth Managment LLC 0.95% of their portfolio CINCINNATI, OH 85,77485.8k $1.4m $1.4m 0.95% Reduced -10.4k -10,392
67 GFS Advisors, LLC 0.17% of their portfolio HOUSTON, TX 77,80077.8k $1.3m $1.3m 0.17% Unchanged
68 Adams Asset Advisors, LLC 0.18% of their portfolio DALLAS, TX 76,41976.4k $1.2m $1.2m 0.18% New
69 Perennial Investment Advisors, LLC 0.12% of their portfolio Los Angeles, CA 74,42074.4k $1.2m $1.2m 0.12% Reduced -3.3k -3,316
70 Alpha Wealth Funds, LLC 1.13% of their portfolio PARK CITY, UT 74,09674.1k $1.2m $1.2m 1.13% Added +4.5k +4,488
71 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 73,90673.9k $1.2m $1.2m 0.01% Reduced -474 -474
72 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 73,87073.9k $1.2m $1.2m 0.01% Reduced -1.0k -1,008
73 Black Swift Group, LLC 0.24% of their portfolio BOULDER, CO 72,00072.0k $1.2m $1.2m 0.24% Reduced -40.1k -40,140
74 KESTRA PRIVATE WEALTH SERVICES, LLC 0.02% of their portfolio AUSTIN, TX 71,77271.8k $1.2m $1.2m 0.02% Added +1.8k +1,757
75 GUIDANCE CAPITAL, INC 0.32% of their portfolio LOUSVILLE, KY 69,39069.4k $1.1m $1.1m 0.32% Reduced -4.3k -4,269
76 WHITTIER TRUST CO OF NEVADA INC 0.02% of their portfolio RENO, NV 65,72465.7k $1.1m $1.1m 0.02% Unchanged
77 Global Retirement Partners, LLC 0.03% of their portfolio San Rafael, CA 65,48065.5k $1.1m $1.1m 0.03% First filing
78 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 64,75964.8k $1.1m $1.1m 0.01% Reduced -33.6k -33,568
79 Atria Wealth Solutions, Inc. 0.02% of their portfolio NEW YORK, NY 60,74360.7k $988.9k $988.9k 0.02% Reduced -32.0k -31,987
80 NWF Advisory Services Inc. 0.11% of their portfolio Los Angeles, CA 58,84358.8k $958.0k $958.0k 0.11% Added +22.5k +22,524
81 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 58,64558.6k $955.0k $955.0k 0.00% Reduced -8.7k -8,676
82 Ranch Capital Advisors Inc. 0.41% of their portfolio SARASOTA, FL 58,58758.6k $953.8k $953.8k 0.41% Added +4.3k +4,307
83 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 56,02356.0k $912.1k $912.1k 0.03% Added +50.9k +50,910
84 Wealthcare Advisory Partners LLC 0.02% of their portfolio WEST CHESTER, PA 55,55955.6k $904.5k $904.5k 0.02% Added +34.8k +34,797
85 CW Advisors, LLC 0.01% of their portfolio BOSTON, MA 52,39952.4k $853.1k $853.1k 0.01% Added +13.7k +13,707
86 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 49,80749.8k $810.9k $810.9k 0.00% Reduced -6.1k -6,102
87 Sowell Financial Services LLC 0.03% of their portfolio NORTH LITTLE ROCK, AR 47,31347.3k $770.3k $770.3k 0.03% Added +1.8k +1,761
88 HARBOUR INVESTMENTS, INC. 0.02% of their portfolio MADISON, WI 45,81245.8k $745.8k $745.8k 0.02% Added +17.5k +17,537
89 ALBION FINANCIAL GROUP /UT 0.05% of their portfolio SALT LAKE CITY, UT 45,06545.1k $733.7k $733.7k 0.05% Reduced -1.9k -1,876
90 MAGNOLIA CAPITAL ADVISORS LLC 0.18% of their portfolio RIDGELAND, MS 44,87144.9k $730.5k $730.5k 0.18% New
91 MILESTONE ASSET MANAGEMENT, LLC 0.15% of their portfolio PITTSBURGH, PA 42,94542.9k $699.2k $699.2k 0.15% Added +13.6k +13,645
92 NAPA WEALTH MANAGEMENT 0.33% of their portfolio Napa, CA 42,63942.6k $694.2k $694.2k 0.33% Reduced -27.0k -26,964
93 Johnson Financial Group, Inc. 0.03% of their portfolio RACINE, WI 42,50042.5k $691.9k $691.9k 0.03% Unchanged
94 WEALTH ALLIANCE, LLC 0.08% of their portfolio MELLVILLE, NY 41,69141.7k $678.7k $678.7k 0.08% Added +1.8k +1,752
95 Symphony Financial, Ltd. Co. 0.09% of their portfolio HOUSTON, TX 41,45741.5k $665.0k $665.0k 0.09% New
96 TOWNSQUARE CAPITAL LLC 0.06% of their portfolio Lehi, UT 40,86940.9k $665.3k $665.3k 0.06% Reduced -233.2k -233,202
97 U.S. Capital Wealth Advisors, LLC 0.02% of their portfolio AUSTIN, TX 40,36140.4k $657.1k $657.1k 0.02% Added +13.4k +13,436
98 SlateStone Wealth, LLC 0.06% of their portfolio JUPITER, FL 38,00038.0k $619.0k $619.0k 0.06% Reduced -44.5k -44,500
99 Consolidated Portfolio Review Corp 0.08% of their portfolio WOODBURY, NY 37,71737.7k $614.0k $614.0k 0.08% Reduced -45.5k -45,484
100 CFO4Life Group, LLC 0.10% of their portfolio COPPELL, TX 37,40737.4k $609.0k $609.0k 0.10% Added +22.7k +22,695