Vault-13

VANECK ETF TRUST PFXF

PREFERRED SECURT · ETP · CUSIP 92189F429

191 institutional holders +7 vs Q2 2025
29,517,76429.5m shares reported held*
$524.8mreported value*
26 new 82 added 45 reduced 19 sold out net bought ≈ $31.8m (+1.8m 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. Holder counts are more reliable. Implied quarter-end price ≈ $17.78.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 129Q4 22: 139Q1 23: 145Q2 23: 144Q3 23: 150Q4 23: 169Q1 24: 174Q2 24: 180Q3 24: 183Q4 24: 192Q1 25: 193Q2 25: 184Q3 25: 191191Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022129
Q4 2022139
Q1 2023145
Q2 2023144
Q3 2023150
Q4 2023169
Q1 2024174
Q2 2024180
Q3 2024183
Q4 2024192
Q1 2025193
Q2 2025184
Q3 2025191

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 80 bought or addedQ4 23: 64 cut or sold outQ1 24: 102 bought or addedQ1 24: 54 cut or sold outQ1 24Q2 24: 89 bought or addedQ2 24: 69 cut or sold outQ3 24: 91 bought or addedQ3 24: 69 cut or sold outQ3 24Q4 24: 95 bought or addedQ4 24: 66 cut or sold outQ1 25: 96 bought or addedQ1 25: 76 cut or sold outQ1 25Q2 25: 87 bought or addedQ2 25: 86 cut or sold outQ3 25: 108 bought or addedQ3 25: 64 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20238064
Q1 202410254
Q2 20248969
Q3 20249169
Q4 20249566
Q1 20259676
Q2 20258786
Q3 202510864

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ4 24 calls: $231.2kQ4 24 puts: $41.4kQ4 24P/C 0.18Q1 25 calls: $1.1mQ1 25 puts: $33.5kQ1 25P/C 0.03Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$231.2k$41.4k0.18
Q1 2025$1.1m$33.5k0.03
Q2 2025$0$0—
Q3 2025$0$0—

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +1,111,754+1.1m
LPL Financial LLC Added +334,162+334.2k
MML INVESTORS SERVICES, LLC Added +191,509+191.5k
WELLS FARGO & COMPANY/MN Added +190,124+190.1k
BLAIR WILLIAM & CO/IL Added +169,788+169.8k
Tanager Wealth Management LLP Added +144,310+144.3k
Ocean Park Asset Management, LLC New +139,300+139.3k
Lido Advisors, LLC New +115,891+115.9k
Sanctuary Advisors, LLC Added +105,681+105.7k
Good Steward Wealth Advisors,LLC Added +84,684+84.7k

Biggest sellers

ROYAL BANK OF CANADA Reduced -326,875-326.9k
L2 Asset Management, LLC Sold out -267,021-267.0k
AMERIPRISE FINANCIAL INC Reduced -246,975-247.0k
Carmel Capital Partners, LLC Reduced -214,213-214.2k
STIFEL FINANCIAL CORP Reduced -139,445-139.4k
Quadrature Capital Ltd Sold out -130,881-130.9k
Fortis Capital Management LLC Reduced -79,002-79.0k
Rockefeller Capital Management L.P. Reduced -66,970-67.0k
Evanson Asset Management, LLC Sold out -55,679-55.7k
HRT FINANCIAL LP Sold out -38,031-38.0k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 4,140,6714.1m $73.6m $73.6m 0.01% Added +1.1m +1,111,754
2 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 2,728,6252.7m $48.5m $48.5m 0.01% Added +334.2k +334,162
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,580,2202.6m $45.9m $45.9m 0.00% Added +3.3k +3,304
4 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,763,7601.8m $31.3m $31.3m 0.01% Added +59.8k +59,762
5 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,753,5291.8m $31.2m $31.2m 0.01% Added +190.1k +190,124
6 State of Wisconsin - Board of Commissioners of Public Lands 17.27% of their portfolio MADISON, WI 1,525,2201.5m $27.1m $27.1m 17.27% Unchanged
7 MML INVESTORS SERVICES, LLC 0.07% of their portfolio SPRINGFIELD, MA 1,379,2671.4m $24.5m $24.5m 0.07% Added +191.5k +191,509
8 Tanager Wealth Management LLP 2.40% of their portfolio Goring On Thames, X0 1,286,3461.3m $22.9m $22.9m 2.40% Added +144.3k +144,310
9 Good Steward Wealth Advisors,LLC 7.16% of their portfolio CLARKSVILLE, TN 583,366583.4k $10.4m $10.4m 7.16% Added +84.7k +84,684
10 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 541,207541.2k $9.6m $9.6m 0.00% Added +40.9k +40,853
11 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 489,108489.1k $8.7m $8.7m 0.01% Added +325 +325
12 LEVEL FOUR ADVISORY SERVICES, LLC 0.24% of their portfolio DALLAS, TX 394,073394.1k $7.0m $7.0m 0.24% Added +8.0k +7,980
13 PARK AVENUE SECURITIES LLC 0.05% of their portfolio NEW YORK, NY 373,812373.8k $6.6m $6.6m 0.05% Added +62.6k +62,551
14 Concurrent Investment Advisors, LLC 0.10% of their portfolio Tampa, FL 333,264333.3k $5.9m $5.9m 0.10% Added +14.6k +14,578
15 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 322,491322.5k $5.7m $5.7m 0.00% Reduced -326.9k -326,875
16 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 302,896302.9k $5.4m $5.4m 0.01% Added +26.3k +26,277
17 Silver Coast Investments LLC 1.74% of their portfolio SAN DIEGO, X1 285,331285.3k $5.1m $5.1m 1.74% Reduced -3.1k -3,096
18 Sound Income Strategies, LLC 0.27% of their portfolio FT LAUDERDALE, FL 281,083281.1k $5.0m $5.0m 0.27% Reduced -22.0k -22,020
19 Carmel Capital Partners, LLC 2.10% of their portfolio SAN DIEGO, CA 280,700280.7k $5.0m $5.0m 2.10% Reduced -214.2k -214,213
20 Steward Partners Investment Advisory, LLC 0.03% of their portfolio STAMFORD, CT 275,742275.7k $4.9m $4.9m 0.03% Reduced -2.4k -2,431
21 Investors Research Corp 0.83% of their portfolio ATLANTA, GA 251,453251.5k $4.5m $4.5m 0.83% Added +17.9k +17,867
22 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 237,350237.3k $4.1m $4.1m 0.01% Added +105.7k +105,681
23 Wealthcare Advisory Partners LLC 0.08% of their portfolio WEST CHESTER, PA 209,971210.0k $3.7m $3.7m 0.08% Reduced -4.6k -4,610
24 UBS Group AG 0.00% of their portfolio ZURICH, V8 209,820209.8k $3.7m $3.7m 0.00% Added +9.5k +9,455
25 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 205,810205.8k $3.7m $3.7m 0.00% Added +19.3k +19,326
26 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 199,457199.5k $3.5m $3.5m 0.02% Added +18.5k +18,539
27 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 193,234193.2k $3.4m $3.4m 0.01% Added +29.6k +29,612
28 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 190,581190.6k $3.4m $3.4m 0.00% Added +12.5k +12,464
29 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 190,247190.2k $3.4m $3.4m 0.00% Reduced -247.0k -246,975
30 BLAIR WILLIAM & CO/IL 0.01% of their portfolio CHICAGO, IL 171,788171.8k $3.1m $3.1m 0.01% Added +169.8k +169,788
31 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 167,622167.6k $3.0m $3.0m 0.00% Reduced -902 -902
32 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 163,917163.9k $2.9m $2.9m 0.01% Added +2.1k +2,143
33 Brendel Financial Advisors LLC 1.44% of their portfolio HANOVER, NH 157,485157.5k $2.8m $2.8m 1.44% Added +11.6k +11,644
34 NTV Asset Management LLC 0.29% of their portfolio Charleston, WV 151,586151.6k $2.7m $2.7m 0.29% Added +28.4k +28,450
35 Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio CHIYODA-KU, TOKYO, M0 141,281141.3k $2.5m $2.5m 0.00% Added +4.9k +4,855
36 Ocean Park Asset Management, LLC 0.10% of their portfolio SANTA MONICA, CA 139,300139.3k $2.5m $2.5m 0.10% New
37 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 138,556138.6k $2.5m $2.5m 0.00% Added +6.6k +6,617
38 Measured Risk Portfolios, Inc. 2.63% of their portfolio SAN DIEGO, CA 136,556136.6k $2.4m $2.4m 2.63% Added +497 +497
39 CASTLEKEEP INVESTMENT ADVISORS LLC 1.12% of their portfolio WESTPORT, CT 134,183134.2k $2.4m $2.4m 1.12% Unchanged
40 Equitable Holdings, Inc. 0.02% of their portfolio NEW YORK, NY 128,506128.5k $2.3m $2.3m 0.02% Added +23.5k +23,543
41 INDEPENDENT FINANCIAL GROUP, LLC 0.05% of their portfolio SAN DIEGO, CA 124,106124.1k $2.2m $2.2m 0.05% Added +18.6k +18,611
42 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 115,891115.9k $2.1m $2.1m 0.01% New
43 Mariner, LLC 0.00% of their portfolio Overland Park, KS 115,646115.6k $2.1m $2.1m 0.00% Added +2.9k +2,871
44 Sigma Planning Corp 0.05% of their portfolio ANN ARBOR, MI 108,773108.8k $1.9m $1.9m 0.05% Added +5.2k +5,233
45 Chicago Partners Investment Group LLC 0.05% of their portfolio CHICAGO, IL 107,432107.4k $1.9m $1.9m 0.05% Added +648 +648
46 Joseph P. Lucia & Associates, LLC 0.64% of their portfolio Yorktown Heights, NY 95,70595.7k $1.7m $1.7m 0.64% Reduced -5.7k -5,703
47 GUGGENHEIM CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 92,03992.0k $1.6m $1.6m 0.01% Added +3.4k +3,378
48 HOWARD WEALTH MANAGEMENT, LLC 0.75% of their portfolio Madison, CT 91,41391.4k $1.6m $1.6m 0.75% Added +2.5k +2,465
49 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 90,01790.0k $1.6m $1.6m 0.00% Added +7.1k +7,090
50 MSH Capital Advisors LLC 0.42% of their portfolio SCOTTSDALE, AZ 88,45388.5k $1.6m $1.6m 0.42% Added +3.9k +3,934
51 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 87,83587.8k $1.6m $1.6m 0.00% Reduced -1.8k -1,807
52 Avidian Wealth Enterprises, LLC 0.06% of their portfolio Houston, TX 86,41286.4k $1.5m $1.5m 0.06% Added +3.1k +3,077
53 Meridian Financial Partners LLC 0.63% of their portfolio WARRENTON, VA 84,57684.6k $1.5m $1.5m 0.63% Added +50.4k +50,396
54 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 83,41783.4k $1.5m $1.5m 0.00% New
55 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 83,19483.2k $1.5m $1.5m 0.00% Reduced -139.4k -139,445
56 INTEGRITY ALLIANCE, LLC. 0.07% of their portfolio Urbandale, IA 82,82082.8k $1.5m $1.5m 0.07% New
57 SAX WEALTH ADVISORS, LLC 0.08% of their portfolio PARSIPPANY, NJ 80,11180.1k $1.4m $1.4m 0.08% Reduced -6.0k -5,996
58 Signature Wealth Management Group 0.55% of their portfolio ATLANTA, GA 79,35179.4k $1.4m $1.4m 0.55% Added +367 +367
59 SHEETS SMITH WEALTH MANAGEMENT 0.16% of their portfolio WINSTON-SALEM, NC 77,82877.8k $1.4m $1.4m 0.16% Reduced -1.4k -1,350
60 Atria Investments, Inc 0.02% of their portfolio Charlotte, NC 77,01977.0k $1.4m $1.4m 0.02% Added +1.3k +1,282
61 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 76,48176.5k $1.4m $1.4m 0.01% Added +2.3k +2,315
62 Geneos Wealth Management Inc. 0.03% of their portfolio ENGLEWOOD, CO 69,64269.6k $1.2m $1.2m 0.03% Reduced -2.1k -2,054
63 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 68,91068.9k $1.2m $1.2m 0.00% Reduced -67.0k -66,970
64 Fortis Capital Management LLC 0.16% of their portfolio BELLEVUE, WA 65,91265.9k $1.2m $1.2m 0.16% Reduced -79.0k -79,002
65 Inspire Advisors, LLC 0.10% of their portfolio Meridian, ID 61,15861.2k $1.1m $1.1m 0.10% Added +148 +148
66 Etesian Wealth Advisors, Inc. 0.32% of their portfolio West Linn, OR 53,80553.8k $956.1k $956.1k 0.32% Reduced -1.2k -1,172
67 Capital Square, LLC 0.49% of their portfolio ATHENS, TN 53,56453.6k $951.8k $951.8k 0.49% New
68 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 53,35953.4k $948.2k $948.2k 0.00% Added +16.8k +16,794
69 Powell Investment Advisors, LLC 0.33% of their portfolio MIAMI, FL 53,24453.2k $946.1k $946.1k 0.33% Unchanged
70 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 52,04452.0k $924.8k $924.8k 0.00% Added +3.8k +3,805
71 Stratos Investment Management, LLC 0.04% of their portfolio BEACHWOOD, OH 51,06551.1k $907.4k $907.4k 0.04% Added +3.2k +3,220
72 INSIGNEO ADVISORY SERVICES, LLC 0.06% of their portfolio MIAMI, FL 50,67750.7k $900.5k $900.5k 0.06% Added +4.3k +4,267
73 Marshall Financial Group, LLC 0.17% of their portfolio Hunt Valley, MD 50,45350.5k $896.6k $896.6k 0.17% Reduced -3.9k -3,855
74 MPWM ADVISORY SOLUTIONS, LLC 0.49% of their portfolio ALPHARETTA, GA 46,15246.2k $820.1k $820.1k 0.49% Added +383 +383
75 Sowell Financial Services LLC 0.03% of their portfolio NORTH LITTLE ROCK, AR 46,06746.1k $818.6k $818.6k 0.03% Added +112 +112
76 Guild Investment Management, Inc. 0.63% of their portfolio WESTLAKE VILLAGE, CA 44,63044.6k $793.1k $793.1k 0.63% Added +3.5k +3,450
77 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 44,02544.0k $782.3k $782.3k 0.01% Added +3.8k +3,845
78 Tandem Financial, LLC 0.28% of their portfolio GREENWOOD VILLAGE, CO 42,87342.9k $761.9k $761.9k 0.28% Reduced -450 -450
79 ROMAN BUTLER FULLERTON & CO 0.20% of their portfolio ST LOUIS, MO 41,16941.2k $736.1k $736.1k 0.20% Added +15.6k +15,555
80 WEALTH ALLIANCE, LLC 0.07% of their portfolio MELLVILLE, NY 40,72640.7k $723.7k $723.7k 0.07% Added +57 +57
81 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 37,35537.4k $663.8k $663.8k 0.00% Reduced -2.8k -2,840
82 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 37,00037.0k $657.5k $657.5k 0.00% New
83 DELTA CAPITAL MANAGEMENT LLC 0.34% of their portfolio RED BANK, NJ 36,95037.0k $657.0k $657.0k 0.34% Reduced -500 -500
84 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 35,51335.5k $631.1k $631.1k 0.00% Reduced -30.0k -29,987
85 PLIMOTH TRUST CO LLC 0.14% of their portfolio SWANSEA, MA 34,95135.0k $621.1k $621.1k 0.14% Reduced -428 -428
86 Ausdal Financial Partners, Inc. 0.03% of their portfolio Davenport, IA 34,50534.5k $613.2k $613.2k 0.03% Added +1.3k +1,341
87 ACCREDITED INVESTOR SERVICES, LLC 0.41% of their portfolio ST. CLOUD, MN 33,58033.6k $596.7k $596.7k 0.41% Unchanged
88 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 33,22333.2k $590.4k $590.4k 0.01% Added +5.2k +5,195
89 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 30,75930.8k $546.6k $546.6k 0.01% New
90 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 30,22030.2k $537.0k $537.0k 0.01% New
91 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 29,42429.4k $523.0k $523.0k 0.00% Added +1.4k +1,434
92 Redwood Financial Network Corp 0.33% of their portfolio SOLON, OH 29,28329.3k $520.4k $520.4k 0.33% Reduced -16.8k -16,819
93 Ariadne Wealth Management, LP 0.23% of their portfolio SANTA BARBARA, CA 28,75028.8k $504.0k $504.0k 0.23% Unchanged
94 Samalin Investment Counsel, LLC 0.17% of their portfolio CHAPPAQUA, NY 28,45328.5k $505.6k $505.6k 0.17% Added +2.8k +2,750
95 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 27,54527.5k $489.5k $489.5k 0.00% Reduced -7.0k -7,007
96 Balanced Rock Investment Advisors LLC 0.35% of their portfolio ROSLINDALE, MA 27,27627.3k $484.7k $484.7k 0.35% Added +1.9k +1,864
97 Beaumont Financial Advisors, LLC 0.03% of their portfolio NEEDHAM, MA 27,12927.1k $482.1k $482.1k 0.03% Added +270 +270
98 Bank & Trust Co 0.33% of their portfolio LITCHFIELD, IL 25,26425.3k $448.9k $448.9k 0.33% Unchanged
99 Stratos Wealth Partners, LTD. 0.00% of their portfolio BEACHWOOD, OH 23,45323.5k $416.8k $416.8k 0.00% Reduced -4.2k -4,181
100 Apriem Advisors 0.04% of their portfolio IRVINE, CA 22,70022.7k $403.4k $403.4k 0.04% Unchanged