Vault-13

VANECK ETF TRUST PFXF

PREFERRED SECURT · ETP · CUSIP 92189F429

210 institutional holders +19 vs Q3 2025
33,240,43433.2m shares reported held*
$587.5mreported value*
18 new 87 added 60 reduced 12 sold out net bought ≈ $39.4m (+2.2m 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 ≈ $17.67.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 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: 191Q4 25: 210210Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025210

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 102 bought or addedQ1 24: 54 cut or sold outQ2 24: 89 bought or addedQ2 24: 69 cut or sold outQ2 24Q3 24: 91 bought or addedQ3 24: 69 cut or sold outQ4 24: 95 bought or addedQ4 24: 66 cut or sold outQ4 24Q1 25: 96 bought or addedQ1 25: 76 cut or sold outQ2 25: 87 bought or addedQ2 25: 86 cut or sold outQ2 25Q3 25: 108 bought or addedQ3 25: 64 cut or sold outQ4 25: 105 bought or addedQ4 25: 72 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202410254
Q2 20248969
Q3 20249169
Q4 20249566
Q1 20259676
Q2 20258786
Q3 202510864
Q4 202510572

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ1 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 —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$1.1m$33.5k0.03
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$0$0—

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +505,059+505.1k
UBS Group AG Added +405,277+405.3k
Apella Capital, LLC New +254,565+254.6k
LPL Financial LLC Added +232,745+232.7k
Tanager Wealth Management LLP Added +162,742+162.7k
AssuredPartners Investment Advisors, LLC Added +119,929+119.9k
Capital Square, LLC Added +116,404+116.4k
Mezzasalma Advisors, LLC Added +98,854+98.9k
MML INVESTORS SERVICES, LLC Added +92,611+92.6k
Carmel Capital Partners, LLC Added +92,548+92.5k

Biggest sellers

Ocean Park Asset Management, LLC Reduced -115,200-115.2k
Sanctuary Advisors, LLC Reduced -100,058-100.1k
Sumitomo Mitsui Trust Group, Inc. Reduced -93,085-93.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -65,139-65.1k
MORGAN STANLEY Reduced -38,893-38.9k
RENAISSANCE TECHNOLOGIES LLC Sold out -35,513-35.5k
CreativeOne Wealth, LLC Sold out -30,220-30.2k
Redwood Financial Network Corp Sold out -29,283-29.3k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -24,150-24.1k
MassMutual Private Wealth & Trust, FSB Sold out -22,479-22.5k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 4,645,7304.6m $82.0m $82.0m 0.01% Added +505.1k +505,059
2 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 2,961,3703.0m $52.3m $52.3m 0.01% Added +232.7k +232,745
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,541,3272.5m $44.9m $44.9m 0.00% Reduced -38.9k -38,893
4 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,847,9061.8m $32.6m $32.6m 0.01% Added +84.1k +84,146
5 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,738,1631.7m $30.7m $30.7m 0.01% Reduced -15.4k -15,366
6 State of Wisconsin - Board of Commissioners of Public Lands 17.41% of their portfolio MADISON, WI 1,525,2201.5m $26.9m $26.9m 17.41% Unchanged
7 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 1,471,8781.5m $26.0m $26.0m 0.06% Added +92.6k +92,611
8 Tanager Wealth Management LLP 2.56% of their portfolio Goring On Thames, X0 1,449,0881.4m $25.6m $25.6m 2.56% Added +162.7k +162,742
9 Wealth Intelligence, LLC 5.46% of their portfolio COLUMBUS, GA 623,238623.2k $11.0m $11.0m 5.46% First filing
10 UBS Group AG 0.00% of their portfolio ZURICH, V8 615,097615.1k $10.9m $10.9m 0.00% Added +405.3k +405,277
11 Good Steward Wealth Advisors,LLC 6.95% of their portfolio CLARKSVILLE, TN 596,481596.5k $10.5m $10.5m 6.95% Added +13.1k +13,115
12 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 564,774564.8k $10.0m $10.0m 0.00% Added +23.6k +23,567
13 Dougherty & Associates, LLC 7.60% of their portfolio Spring Hill, FL 481,609481.6k $8.5m $8.5m 7.60% First filing
14 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 468,030468.0k $8.3m $8.3m 0.01% Reduced -21.1k -21,078
15 LEVEL FOUR ADVISORY SERVICES, LLC 0.23% of their portfolio DALLAS, TX 398,939398.9k $7.0m $7.0m 0.23% Added +4.9k +4,866
16 Carmel Capital Partners, LLC 2.31% of their portfolio SAN DIEGO, CA 373,248373.2k $6.6m $6.6m 2.31% Added +92.5k +92,548
17 PARK AVENUE SECURITIES LLC 0.05% of their portfolio NEW YORK, NY 367,080367.1k $6.5m $6.5m 0.05% Reduced -6.7k -6,732
18 Concurrent Investment Advisors, LLC 0.07% of their portfolio Tampa, FL 335,329335.3k $5.9m $5.9m 0.07% Added +2.1k +2,065
19 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 328,163328.2k $5.8m $5.8m 0.00% Added +5.7k +5,672
20 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 327,101327.1k $5.8m $5.8m 0.01% Added +24.2k +24,205
21 Silver Coast Investments LLC 1.79% of their portfolio SAN DIEGO, X1 293,523293.5k $5.2m $5.2m 1.79% Added +8.2k +8,192
22 Steward Partners Investment Advisory, LLC 0.03% of their portfolio STAMFORD, CT 275,973276.0k $4.9m $4.9m 0.03% Added +231 +231
23 Investors Research Corp 0.88% of their portfolio ATLANTA, GA 272,102272.1k $4.8m $4.8m 0.88% Added +20.6k +20,649
24 Sound Income Strategies, LLC 0.23% of their portfolio FT LAUDERDALE, FL 265,290265.3k $4.8m $4.8m 0.23% Reduced -15.8k -15,793
25 Apella Capital, LLC 0.09% of their portfolio WEST HARTFORD, CT 254,565254.6k $4.5m $4.5m 0.09% New
26 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 227,258227.3k $4.0m $4.0m 0.00% Added +21.4k +21,448
27 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 214,001214.0k $3.8m $3.8m 0.02% Added +14.5k +14,544
28 Wealthcare Advisory Partners LLC 0.07% of their portfolio WEST CHESTER, PA 212,920212.9k $3.8m $3.8m 0.07% Added +2.9k +2,949
29 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 208,125208.1k $3.7m $3.7m 0.00% Added +17.5k +17,544
30 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 204,822204.8k $3.6m $3.6m 0.01% Added +11.6k +11,588
31 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 189,431189.4k $3.3m $3.3m 0.00% Reduced -816 -816
32 Capital Square, LLC 1.53% of their portfolio ATHENS, TN 169,968170.0k $3.0m $3.0m 1.53% Added +116.4k +116,404
33 LARCH CAPITAL PARTNERS LLC 0.40% of their portfolio MIAMI, FL 167,160167.2k $3.0m $3.0m 0.40% First filing
34 BLAIR WILLIAM & CO/IL 0.01% of their portfolio CHICAGO, IL 163,395163.4k $2.9m $2.9m 0.01% Reduced -8.4k -8,393
35 Brendel Financial Advisors LLC 1.42% of their portfolio HANOVER, NH 163,097163.1k $2.9m $2.9m 1.42% Added +5.6k +5,612
36 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 162,705162.7k $2.9m $2.9m 0.00% Reduced -4.9k -4,917
37 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 158,868158.9k $2.8m $2.8m 0.01% Reduced -5.0k -5,049
38 NTV Asset Management LLC 0.30% of their portfolio Charleston, WV 157,985158.0k $2.8m $2.8m 0.30% Added +6.4k +6,399
39 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 157,681157.7k $2.8m $2.8m 0.01% Added +88.8k +88,771
40 AssuredPartners Investment Advisors, LLC 0.37% of their portfolio Tampa, FL 140,653140.7k $2.5m $2.5m 0.37% Added +119.9k +119,929
41 Equitable Holdings, Inc. 0.02% of their portfolio NEW YORK, NY 140,608140.6k $2.5m $2.5m 0.02% Added +12.1k +12,102
42 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 137,292137.3k $2.4m $2.4m 0.01% Reduced -100.1k -100,058
43 CASTLEKEEP INVESTMENT ADVISORS LLC 1.08% of their portfolio WESTPORT, CT 134,528134.5k $2.4m $2.4m 1.08% Added +345 +345
44 Measured Risk Portfolios, Inc. 2.70% of their portfolio SAN DIEGO, CA 132,806132.8k $2.3m $2.3m 2.70% Reduced -3.8k -3,750
45 Sigma Planning Corp 0.06% of their portfolio ANN ARBOR, MI 121,770121.8k $2.2m $2.2m 0.06% Added +13.0k +12,997
46 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 115,891115.9k $2.1m $2.1m 0.01% Unchanged
47 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 114,406114.4k $2.1m $2.1m 0.00% Reduced -24.1k -24,150
48 Mezzasalma Advisors, LLC 0.48% of their portfolio TINTON FALLS, NJ 110,614110.6k $2.0m $2.0m 0.48% Added +98.9k +98,854
49 INDEPENDENT FINANCIAL GROUP, LLC 0.04% of their portfolio SAN DIEGO, CA 110,278110.3k $1.9m $1.9m 0.04% Reduced -13.8k -13,828
50 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 106,569106.6k $1.9m $1.9m 0.00% Added +18.7k +18,734
51 Chicago Partners Investment Group LLC 0.05% of their portfolio CHICAGO, IL 102,047102.0k $1.9m $1.9m 0.05% Reduced -5.4k -5,385
52 OneDigital Investment Advisors LLC 0.02% of their portfolio OVERLAND PARK, KS 100,731100.7k $1.8m $1.8m 0.02% Added +79.7k +79,706
53 MSH Capital Advisors LLC 0.38% of their portfolio SCOTTSDALE, AZ 100,676100.7k $1.8m $1.8m 0.38% Added +12.2k +12,223
54 GUGGENHEIM CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 98,49698.5k $1.7m $1.7m 0.01% Added +6.5k +6,457
55 Mariner, LLC 0.00% of their portfolio Overland Park, KS 95,30495.3k $1.7m $1.7m 0.00% Reduced -20.3k -20,342
56 Meridian Financial Partners LLC 0.65% of their portfolio WARRENTON, VA 88,73888.7k $1.6m $1.6m 0.65% Added +4.2k +4,162
57 Joseph P. Lucia & Associates, LLC 0.56% of their portfolio Yorktown Heights, NY 88,00988.0k $1.6m $1.6m 0.56% Reduced -7.7k -7,696
58 Avidian Wealth Enterprises, LLC 0.06% of their portfolio Houston, TX 86,97687.0k $1.5m $1.5m 0.06% Added +564 +564
59 HOWARD WEALTH MANAGEMENT, LLC 0.67% of their portfolio Madison, CT 86,31786.3k $1.5m $1.5m 0.67% Reduced -5.1k -5,096
60 INTEGRITY ALLIANCE, LLC. 0.05% of their portfolio Urbandale, IA 84,62984.6k $1.5m $1.5m 0.05% Added +1.8k +1,809
61 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 83,69383.7k $1.5m $1.5m 0.00% Added +499 +499
62 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 82,82182.8k $1.5m $1.5m 0.00% Reduced -7.2k -7,196
63 RHODES INVESTMENT ADVISORS INC /ADV 1.17% of their portfolio FORT WORTH, TX 82,06982.1k $1.4m $1.4m 1.17% First filing
64 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 81,73781.7k $1.4m $1.4m 0.01% Added +5.3k +5,256
65 Atria Investments, Inc 0.02% of their portfolio Charlotte, NC 81,11781.1k $1.4m $1.4m 0.02% Added +4.1k +4,098
66 PREVAIL INNOVATIVE WEALTH ADVISORS, LLC 0.25% of their portfolio LEAWOOD, KS 79,06479.1k $1.4m $1.4m 0.25% New
67 Signature Wealth Management Group 0.57% of their portfolio ATLANTA, GA 79,05379.1k $1.4m $1.4m 0.57% Reduced -298 -298
68 SHEETS SMITH WEALTH MANAGEMENT 0.15% of their portfolio WINSTON-SALEM, NC 76,48076.5k $1.4m $1.4m 0.15% Reduced -1.3k -1,348
69 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 76,05776.1k $1.3m $1.3m 0.00% Added +22.7k +22,698
70 INSIGNEO ADVISORY SERVICES, LLC 0.10% of their portfolio MIAMI, FL 75,71275.7k $1.3m $1.3m 0.10% Added +25.0k +25,035
71 SAX WEALTH ADVISORS, LLC 0.06% of their portfolio PARSIPPANY, NJ 75,62275.6k $1.3m $1.3m 0.06% Reduced -4.5k -4,489
72 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 69,30769.3k $1.2m $1.2m 0.00% New
73 Geneos Wealth Management Inc. 0.03% of their portfolio ENGLEWOOD, CO 66,69466.7k $1.2m $1.2m 0.03% Reduced -2.9k -2,948
74 Fortis Capital Management LLC 0.14% of their portfolio BELLEVUE, WA 60,86560.9k $1.1m $1.1m 0.14% Reduced -5.0k -5,047
75 Inspire Advisors, LLC 0.10% of their portfolio Meridian, ID 59,31059.3k $1.0m $1.0m 0.10% Reduced -1.8k -1,848
76 Etesian Wealth Advisors, Inc. 0.30% of their portfolio West Linn, OR 54,27654.3k $958.5k $958.5k 0.30% Added +471 +471
77 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 53,92153.9k $952.2k $952.2k 0.00% Added +1.9k +1,877
78 Powell Investment Advisors, LLC 0.32% of their portfolio MIAMI, FL 53,24453.2k $940.3k $940.3k 0.32% Unchanged
79 Stratos Investment Management, LLC 0.04% of their portfolio BEACHWOOD, OH 53,09753.1k $937.7k $937.7k 0.04% Added +2.0k +2,032
80 Hyposwiss Advisors SA 0.91% of their portfolio GENEVA, V8 52,71052.7k $930.9k $930.9k 0.91% First filing
81 Proficio Capital Partners LLC 0.06% of their portfolio NEWTON, MA 51,99552.0k $918.2k $918.2k 0.06% New
82 ROMAN BUTLER FULLERTON & CO 0.24% of their portfolio ST LOUIS, MO 50,24850.2k $928.1k $928.1k 0.24% Added +9.1k +9,079
83 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 48,81848.8k $862.1k $862.1k 0.00% Added +21.3k +21,273
84 Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio CHIYODA-KU, TOKYO, M0 48,19648.2k $851.1k $851.1k 0.00% Reduced -93.1k -93,085
85 Marshall Financial Group, LLC 0.16% of their portfolio Hunt Valley, MD 48,05948.1k $848.7k $848.7k 0.16% Reduced -2.4k -2,394
86 MPWM ADVISORY SOLUTIONS, LLC 0.47% of their portfolio ALPHARETTA, GA 47,28747.3k $835.1k $835.1k 0.47% Added +1.1k +1,135
87 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 46,65546.7k $823.9k $823.9k 0.00% Added +9.7k +9,655
88 Sowell Financial Services LLC 0.03% of their portfolio NORTH LITTLE ROCK, AR 45,74245.7k $807.8k $807.8k 0.03% Reduced -325 -325
89 Guild Investment Management, Inc. 0.58% of their portfolio WESTLAKE VILLAGE, CA 44,63044.6k $788.2k $788.2k 0.58% Unchanged
90 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 44,18244.2k $780.2k $780.2k 0.01% Added +157 +157
91 Cassady Wealth & Retirement Planning, LLC 0.48% of their portfolio HENDERSON, NV 41,55041.5k $733.8k $733.8k 0.48% First filing
92 WEALTH ALLIANCE, LLC 0.07% of their portfolio MELLVILLE, NY 40,81640.8k $720.8k $720.8k 0.07% Added +90 +90
93 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 38,41838.4k $678.5k $678.5k 0.01% Added +5.2k +5,195
94 DELTA CAPITAL MANAGEMENT LLC 0.37% of their portfolio RED BANK, NJ 36,95037.0k $653.0k $653.0k 0.37% Unchanged
95 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 35,96136.0k $635.1k $635.1k 0.00% Reduced -1.4k -1,394
96 Tandem Financial, LLC 0.68% of their portfolio GREENWOOD VILLAGE, CO 32,42332.4k $559.3k $559.3k 0.68% Reduced -10.4k -10,450
97 Ausdal Financial Partners, Inc. 0.03% of their portfolio Davenport, IA 32,36632.4k $571.6k $571.6k 0.03% Reduced -2.1k -2,139
98 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 31,54631.5k $557.0k $557.0k 0.00% Added +2.1k +2,122
99 PLIMOTH TRUST CO LLC 0.12% of their portfolio SWANSEA, MA 30,65130.7k $541.3k $541.3k 0.12% Reduced -4.3k -4,300
100 Balanced Rock Investment Advisors LLC 0.36% of their portfolio ROSLINDALE, MA 28,92728.9k $510.9k $510.9k 0.36% Added +1.7k +1,651