Vault-13

VANECK ETF TRUST BIZD

BDC INCOME ETF · ETP · CUSIP 92189F411

235 institutional holders -15 vs Q4 2025
54,719,52254.7m shares reported held*
$693.8mreported value*
30 new 88 added 77 reduced 42 sold out net bought ≈ $31.0m (+3.0m 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 ($414.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $12.68. Options: 5 managers hold calls ($25.4m notional), 7 hold puts ($42.3m).

Trends to Q1 2026

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: 236Q3 25: 229Q4 25: 250Q1 26: 235235Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025229
Q4 2025250
Q1 2026235

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 120 bought or addedQ2 24: 56 cut or sold outQ3 24: 105 bought or addedQ3 24: 76 cut or sold outQ3 24Q4 24: 129 bought or addedQ4 24: 57 cut or sold outQ1 25: 122 bought or addedQ1 25: 86 cut or sold outQ1 25Q2 25: 137 bought or addedQ2 25: 76 cut or sold outQ3 25: 132 bought or addedQ3 25: 81 cut or sold outQ3 25Q4 25: 132 bought or addedQ4 25: 110 cut or sold outQ1 26: 118 bought or addedQ1 26: 119 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202412056
Q3 202410576
Q4 202412957
Q1 202512286
Q2 202513776
Q3 202513281
Q4 2025132110
Q1 2026118119

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ2 25 calls: $434.7kQ2 25 puts: $1.2mQ2 25P/C 2.80Q3 25 calls: $185.3kQ3 25 puts: $1.3mQ3 25P/C 6.94Q4 25 calls: $3.7mQ4 25 puts: $8.2mQ4 25P/C 2.18Q1 26 calls: $25.4mQ1 26 puts: $42.3mQ1 26P/C 1.67
Numbers
QuarterCallsPutsP/C
Q2 2025$434.7k$1.2m2.80
Q3 2025$185.3k$1.3m6.94
Q4 2025$3.7m$8.2m2.18
Q1 2026$25.4m$42.3m1.67

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +1,794,136+1.8m
Amplius Wealth Advisors, LLC Added +910,861+910.9k
Bank Julius Baer & Co. Ltd, Zurich Added +715,930+715.9k
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Added +676,672+676.7k
Berkeley Capital Partners, LLC New +419,203+419.2k
RAYMOND JAMES FINANCIAL INC Added +414,452+414.5k
MORGAN STANLEY Added +398,822+398.8k
U.S. Capital Wealth Advisors, LLC New +365,388+365.4k
Gotham Asset Management, LLC New +304,436+304.4k
Focus Partners Wealth Added +208,633+208.6k

Biggest sellers

BARD ASSOCIATES INC Reduced -724,922-724.9k
Quadrature Capital Ltd Sold out -391,097-391.1k
CWM, LLC Reduced -362,764-362.8k
FIL Ltd Sold out -357,732-357.7k
WELLS FARGO & COMPANY/MN Reduced -322,229-322.2k
UBS Group AG Reduced -322,129-322.1k
Naviter Wealth, LLC Reduced -282,253-282.3k
BAYVIEW ASSET MANAGEMENT, LLC Sold out -274,000-274.0k
OPPENHEIMER & CO INC Reduced -226,987-227.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -170,001-170.0k

Biggest calls

Caption Management, LLC New $10.2m795.0k shares
Centiva Capital, LP Added $9.9m775.2k shares
CITADEL ADVISORS LLC Added $3.6m284.5k shares
J. Goldman & Co LP New $1.3m101.0k shares
TUDOR INVESTMENT CORP ET AL New $320.0k25.0k shares

Biggest puts

CloudAlpha Capital Management Limited/Hong Kong New $32.0m2.5m shares
BOOTHBAY FUND MANAGEMENT, LLC New $5.2m407.8k shares
CITADEL ADVISORS LLC Added $1.9m146.4k shares
CITIGROUP INC New $1.8m139.4k shares
Point72 Asset Management, L.P. Unchanged $640.0k50.0k shares
Crawford Fund Management, LLC Added $614.4k48.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $152.3k11.9k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 7,624,0337.6m $97.6m $97.6m 0.01% Added +1.8m +1,794,136
2 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 6,752,4876.8m $86.4m $86.4m 0.01% Added +398.8k +398,822
3 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 4,090,8764.1m $52.4m $52.4m 0.01% Reduced -322.2k -322,229
4 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 2,533,5862.5m $32.4m $32.4m 0.01% Reduced -30.1k -30,105
5 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 0.39% of their portfolio BOSTON, MA 2,424,6282.4m $24.1m $24.1m 0.39% Added +676.7k +676,672
6 Bank Julius Baer & Co. Ltd, Zurich 0.09% of their portfolio ZURICH, V8 2,387,1272.4m $30.6m $30.6m 0.09% Added +715.9k +715,930
7 Generali Asset Management SPA SGR 0.59% of their portfolio TRIESTE, L6 2,200,0002.2m $28.2m $28.2m 0.59% Unchanged
8 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 2,121,9002.1m $27.2m $27.2m 0.02% Reduced -130.3k -130,300
9 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,817,2461.8m $23.3m $23.3m 0.01% Added +414.5k +414,452
10 INDEPENDENT FINANCIAL GROUP, LLC 0.38% of their portfolio SAN DIEGO, CA 1,319,4691.3m $16.9m $16.9m 0.38% Reduced -43.7k -43,696
11 Mission Hills Financial Advisory, LLC 8.19% of their portfolio SAN DIEGO, CA 1,250,0701.3m $16.0m $16.0m 8.19% Added +37.8k +37,818
12 TRANSCEND CAPITAL ADVISORS, LLC 1.21% of their portfolio MADISON, NJ 1,175,8001.2m $15.1m $15.1m 1.21% Added +87.8k +87,791
13 Amplius Wealth Advisors, LLC 1.08% of their portfolio BLUE BELL, PA 1,015,1871.0m $13.0m $13.0m 1.08% Added +910.9k +910,861
14 CONDOR CAPITAL MANAGEMENT 0.80% of their portfolio MARTINSVILLE, NJ 750,093750.1k $9.6m $9.6m 0.80% Reduced -62.4k -62,392
15 Lido Advisors, LLC 0.03% of their portfolio Los Angeles, CA 562,360562.4k $7.2m $7.2m 0.03% Reduced -12.3k -12,343
16 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 503,030503.0k $6.4m $6.4m 0.00% Added +9.8k +9,763
17 Sterling Investment Advisors, Ltd. 1.14% of their portfolio BERWYN, PA 491,575491.6k $6.3m $6.3m 1.14% Added +154.2k +154,150
18 MGO ONE SEVEN LLC 0.11% of their portfolio Beachwood, OH 434,519434.5k $5.6m $5.6m 0.11% Added +78.9k +78,916
19 Berkeley Capital Partners, LLC 1.24% of their portfolio Milton, GA 419,203419.2k $5.4m $5.4m 1.24% New
20 Clark Capital Management Group, Inc. 0.03% of their portfolio PHILADELPHIA, PA 412,737412.7k $5.3m $5.3m 0.03% Reduced -14.7k -14,678
21 Equitable Holdings, Inc. 0.04% of their portfolio NEW YORK, NY 391,219391.2k $5.5m $5.5m 0.04% Added +101.2k +101,227
22 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 389,377389.4k $5.0m $5.0m 0.01% Added +121.2k +121,161
23 UBS Group AG 0.00% of their portfolio ZURICH, V8 376,931376.9k $4.8m $4.8m 0.00% Reduced -322.1k -322,129
24 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 375,995376.0k $4.8m $4.8m 0.00% Reduced -21.5k -21,539
25 U.S. Capital Wealth Advisors, LLC 0.12% of their portfolio AUSTIN, TX 365,388365.4k $4.7m $4.7m 0.12% New
26 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 340,135340.1k $4.4m $4.4m 0.00% Added +47.7k +47,692
27 Haven Private, LLC 1.80% of their portfolio ORLANDO, FL 322,299322.3k $4.1m $4.1m 1.80% Reduced -149.4k -149,421
28 Gotham Asset Management, LLC 0.01% of their portfolio NEW YORK, NY 304,436304.4k $3.9m $3.9m 0.01% New
29 MAGNOLIA CAPITAL ADVISORS LLC 0.72% of their portfolio RIDGELAND, MS 285,325285.3k $3.7m $3.7m 0.72% Added +140.4k +140,414
30 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 274,617274.6k $3.5m $3.5m 0.00% Reduced -81.4k -81,444
31 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 274,058274.1k $3.5m $3.5m 0.00% Added +208.6k +208,633
32 Naviter Wealth, LLC 0.43% of their portfolio LITTLE ROCK, AR 267,260267.3k $3.4m $3.4m 0.43% Reduced -282.3k -282,253
33 Mariner, LLC 0.00% of their portfolio Overland Park, KS 254,330254.3k $3.2m $3.2m 0.00% Reduced -54.8k -54,755
34 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 246,334246.3k $3.2m $3.2m 0.00% Added +6.5k +6,475
35 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 235,568235.6k $3.0m $3.0m 0.01% Added +77.7k +77,674
36 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 235,298235.3k $3.0m $3.0m 0.00% Added +106.9k +106,855
37 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 230,555230.6k $3.0m $3.0m 0.00% Unchanged
38 J.Safra Asset Management Corp 0.16% of their portfolio NEW YORK, NY 225,272225.3k $2.9m $2.9m 0.16% Added +9.2k +9,159
39 Arkadios Wealth Advisors 0.05% of their portfolio ATLANTA, GA 223,927223.9k $2.9m $2.9m 0.05% Reduced -16.0k -16,020
40 Samalin Investment Counsel, LLC 0.88% of their portfolio CHAPPAQUA, NY 194,023194.0k $2.5m $2.5m 0.88% Added +63.7k +63,653
41 Maia Wealth LLC 0.42% of their portfolio DENVER, CO 192,765192.8k $2.5m $2.5m 0.42% Added +120.9k +120,920
42 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 188,676188.7k $2.4m $2.4m 0.00% Reduced -92.9k -92,879
43 Measured Risk Portfolios, Inc. 2.55% of their portfolio SAN DIEGO, CA 180,605180.6k $2.3m $2.3m 2.55% Added +23.0k +23,020
44 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 178,924178.9k $2.3m $2.3m 0.01% Reduced -75.4k -75,414
45 Black Swift Group, LLC 0.40% of their portfolio BOULDER, CO 178,107178.1k $2.3m $2.3m 0.40% Added +7.6k +7,600
46 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 176,763176.8k $2.3m $2.3m 0.01% Added +8.8k +8,832
47 Stratos Wealth Partners, LTD. 0.03% of their portfolio BEACHWOOD, OH 175,225175.2k $2.2m $2.2m 0.03% Added +67.9k +67,861
48 FINANCIAL MANAGEMENT NETWORK INC 0.32% of their portfolio MISSION VIEJO, CA 170,726170.7k $2.1m $2.1m 0.32% Added +4.4k +4,364
49 Alpha Wealth Funds, LLC 1.56% of their portfolio PARK CITY, UT 170,395170.4k $2.2m $2.2m 1.56% Reduced -5.7k -5,666
50 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 163,890163.9k $2.1m $2.1m 0.00% Reduced -19.0k -19,005
51 Garner Asset Management Corp 0.79% of their portfolio PLANO, TX 156,524156.5k $2.0m $2.0m 0.79% Added +108.0k +108,024
52 Sound Income Strategies, LLC 0.09% of their portfolio FT LAUDERDALE, FL 156,195156.2k $1.9m $1.9m 0.09% Added +21.2k +21,215
53 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio ORLANDO, FL 151,652151.7k $1.9m $1.9m 0.13% Reduced -8.1k -8,075
54 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 150,118150.1k $1.9m $1.9m 0.01% Reduced -38.9k -38,884
55 J.W. COLE ADVISORS, INC. 0.06% of their portfolio TAMPA, FL 149,223149.2k $1.9m $1.9m 0.06% Reduced -9.1k -9,105
56 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 139,756139.8k $1.8m $1.8m 0.00% Added +72.2k +72,156
57 WEDBUSH SECURITIES INC 0.05% of their portfolio PASADENA, CA 138,937138.9k $1.8m $1.8m 0.05% Reduced -1.4k -1,369
58 BRIDGES INVESTMENT MANAGEMENT INC 0.02% of their portfolio OMAHA, NE 135,805135.8k $1.7m $1.7m 0.02% New
59 Gibbs Wealth Management 0.23% of their portfolio Alpharetta, GA 133,606133.6k $1.7m $1.7m 0.23% Added +65.1k +65,100
60 GFS Advisors, LLC 0.11% of their portfolio HOUSTON, TX 131,000131.0k $1.7m $1.7m 0.11% Reduced -4.1k -4,100
61 WEALTH ALLIANCE, LLC 0.16% of their portfolio MELLVILLE, NY 126,217126.2k $1.6m $1.6m 0.16% Added +24.4k +24,443
62 Future Financial Wealth Managment LLC 1.05% of their portfolio CINCINNATI, OH 123,225123.2k $1.6m $1.6m 1.05% Added +13.0k +12,951
63 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 123,163123.2k $1.6m $1.6m 0.01% Added +5.9k +5,935
64 Baker Avenue Asset Management, LP 0.04% of their portfolio SAN FRANCISCO, CA 121,266121.3k $1.6m $1.6m 0.04% Added +6.1k +6,126
65 HOWARD WEALTH MANAGEMENT, LLC 0.62% of their portfolio Madison, CT 114,849114.8k $1.5m $1.5m 0.62% Added +2.8k +2,818
66 SAX WEALTH ADVISORS, LLC 0.08% of their portfolio PARSIPPANY, NJ 113,305113.3k $1.6m $1.6m 0.08% Unchanged
67 KINGSWOOD WEALTH ADVISORS, LLC 0.07% of their portfolio SAN DIEGO, CA 109,201109.2k $1.4m $1.4m 0.07% Reduced -40.5k -40,550
68 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 106,620106.6k $1.4m $1.4m 0.01% Added +7.2k +7,214
69 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 106,513106.5k $1.4m $1.4m 0.00% Added +14.6k +14,606
70 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 103,596103.6k $1.3m $1.3m 0.00% Added +52.7k +52,729
71 KESTRA PRIVATE WEALTH SERVICES, LLC 0.02% of their portfolio AUSTIN, TX 102,633102.6k $1.3m $1.3m 0.02% Reduced -3.7k -3,711
72 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 100,895100.9k $1.3m $1.3m 0.00% Added +97.5k +97,489
73 Graham Capital Management, L.P. 0.04% of their portfolio ROWAYTON, CT 100,000100.0k $1.3m $1.3m 0.04% Unchanged
74 Indivisible Partners 0.11% of their portfolio CLEARWATER, FL 97,69497.7k $1.3m $1.3m 0.11% Unchanged
75 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 97,27897.3k $1.2m $1.2m 0.00% Added +28.0k +28,011
76 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 96,13496.1k $1.2m $1.2m 0.02% Added +32.9k +32,921
77 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 94,19894.2k $1.1m $1.1m 0.01% Reduced -2.0k -1,967
78 Investment Partners Asset Management, Inc. 0.74% of their portfolio METUCHEN, NJ 93,34793.3k $1.2m $1.2m 0.74% Reduced -1.0k -1,026
79 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 90,69790.7k $1.2m $1.2m 0.00% New
80 Banco BTG Pactual S.A. 0.22% of their portfolio RIO DE JANEIRO, D5 88,38088.4k $1.1m $1.1m 0.22% New
81 Perennial Investment Advisors, LLC 0.09% of their portfolio Los Angeles, CA 85,44985.4k $1.1m $1.1m 0.09% Added +2.8k +2,784
82 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 80,00080.0k $1.0m $1.0m 0.00% Reduced -20.0k -20,000
83 Advisory Advocates, LLC 1.00% of their portfolio GRAND RAPIDS, MI 76,27076.3k $976.3k $976.3k 1.00% Reduced -1.3k -1,255
84 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 74,41574.4k $952.5k $952.5k 0.01% Added +23.1k +23,065
85 Adams Asset Advisors, LLC 0.11% of their portfolio DALLAS, TX 74,07974.1k $948.2k $948.2k 0.11% Reduced -2.1k -2,092
86 Cordoba Advisory Partners LLC 0.26% of their portfolio NEW YORK, NY 73,24373.2k $937.5k $937.5k 0.26% Unchanged
87 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 70,39870.4k $901.1k $901.1k 0.01% Added +3.6k +3,644
88 ALBION FINANCIAL GROUP /UT 0.06% of their portfolio SALT LAKE CITY, UT 67,77167.8k $867.5k $867.5k 0.06% Added +5.5k +5,482
89 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 66,24666.2k $848.0k $848.0k 0.00% Reduced -5.9k -5,887
90 Ranch Capital Advisors Inc. 0.30% of their portfolio SARASOTA, FL 63,78763.8k $816.5k $816.5k 0.30% Added +990 +990
91 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 61,86061.9k $791.8k $791.8k 0.01% Added +22.9k +22,923
92 Pasadena Private Wealth, LLC 0.11% of their portfolio PASADENA, CA 61,50561.5k $787.3k $787.3k 0.11% Added +11.3k +11,339
93 Spire Wealth Management 0.03% of their portfolio MCLEAN, VA 60,08660.1k $769.1k $769.1k 0.03% Added +2.2k +2,200
94 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 57,54557.5k $736.6k $736.6k 0.00% Added +28.5k +28,458
95 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 54,40054.4k $696.3k $696.3k 0.00% New
96 Wealthcare Advisory Partners LLC 0.01% of their portfolio WEST CHESTER, PA 53,02053.0k $678.7k $678.7k 0.01% Reduced -6.2k -6,233
97 Estate Planners Group, LLC 0.32% of their portfolio YARDLEY, PA 52,79952.8k $675.8k $675.8k 0.32% Reduced -3.8k -3,824
98 CFO4Life Group, LLC 0.10% of their portfolio COPPELL, TX 51,10351.1k $654.1k $654.1k 0.10% Added +18.6k +18,555
99 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 50,42350.4k $645.4k $645.4k 0.01% Reduced -8.0k -8,004
100 L & S Advisors Inc 0.08% of their portfolio Los Angeles, CA 50,13550.1k $641.7k $641.7k 0.08% Added +35.9k +35,911