Vault-13

VANECK ETF TRUST ANGL

FALLEN ANGEL HG · ETP · CUSIP 92189F437

325 institutional holders -13 vs Q2 2025
75,066,01875.1m shares reported held*
$2.2bnreported value*
29 new 141 added 100 reduced 34 sold out net bought ≈ $166.5m (+6.9m 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 ($212.8k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.27.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 284Q4 22: 322Q1 23: 319Q2 23: 317Q3 23: 311Q4 23: 347Q1 24: 345Q2 24: 340Q3 24: 349Q4 24: 348Q1 25: 349Q2 25: 338Q3 25: 325325Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022284
Q4 2022322
Q1 2023319
Q2 2023317
Q3 2023311
Q4 2023347
Q1 2024345
Q2 2024340
Q3 2024349
Q4 2024348
Q1 2025349
Q2 2025338
Q3 2025325

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 174 bought or addedQ4 23: 152 cut or sold outQ1 24: 184 bought or addedQ1 24: 165 cut or sold outQ1 24Q2 24: 167 bought or addedQ2 24: 161 cut or sold outQ3 24: 176 bought or addedQ3 24: 144 cut or sold outQ3 24Q4 24: 177 bought or addedQ4 24: 132 cut or sold outQ1 25: 180 bought or addedQ1 25: 146 cut or sold outQ1 25Q2 25: 149 bought or addedQ2 25: 170 cut or sold outQ3 25: 170 bought or addedQ3 25: 134 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023174152
Q1 2024184165
Q2 2024167161
Q3 2024176144
Q4 2024177132
Q1 2025180146
Q2 2025149170
Q3 2025170134

Calls vs puts

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

CallsPuts
$0$200k$400k$600k$800kQ4 24 calls: $120.4kQ4 24 puts: $197.8kQ4 24P/C 1.64Q1 25 calls: $634.9kQ1 25 puts: $363.6kQ1 25P/C 0.57Q2 25 calls: $532.9kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$120.4k$197.8k1.64
Q1 2025$634.9k$363.6k0.57
Q2 2025$532.9k$00.00
Q3 2025$0$0—

Biggest buyers

Wela Strategies, Inc. Added +1,428,252+1.4m
LPL Financial LLC Added +1,334,242+1.3m
BANK OF AMERICA CORP /DE/ Added +1,193,879+1.2m
Strategic Wealth Investment Group, LLC Added +662,445+662.4k
OSAIC HOLDINGS, INC. Added +472,059+472.1k
Summit Financial, LLC New +440,385+440.4k
Integrated Wealth Concepts LLC Added +352,445+352.4k
Tower Research Capital LLC (TRC) Added +329,217+329.2k
Horizon Investments, LLC Added +256,193+256.2k
UBS Group AG Added +240,682+240.7k

Biggest sellers

AMERIPRISE FINANCIAL INC Reduced -628,987-629.0k
EVERGREEN CAPITAL MANAGEMENT LLC Reduced -254,083-254.1k
GOLDMAN SACHS GROUP INC Reduced -250,826-250.8k
Thrivent Financial for Lutherans Reduced -230,653-230.7k
NBT BANK, N.A. Reduced -185,071-185.1k
M Holdings Securities, Inc. Reduced -180,436-180.4k
RENAISSANCE TECHNOLOGIES LLC Reduced -149,300-149.3k
Essex LLC Reduced -116,277-116.3k
Capitolis Liquid Global Markets LLC Sold out -97,500-97.5k
ROYAL BANK OF CANADA Reduced -89,911-89.9k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.05% of their portfolio CHARLOTTE, NC 20,594,59520.6m $612.3m $612.3m 0.05% Added +1.2m +1,193,879
2 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 4,526,3924.5m $134.6m $134.6m 0.04% Added +1.3m +1,334,242
3 Capital Investment Advisors, LLC 1.63% of their portfolio ATLANTA, GA 3,331,2323.3m $99.0m $99.0m 1.63% Added +143.1k +143,113
4 Cerity Partners LLC 0.15% of their portfolio NEW YORK, NY 3,171,4913.2m $94.3m $94.3m 0.15% Added +124.9k +124,871
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,484,6302.5m $73.9m $73.9m 0.00% Added +44.6k +44,601
6 Wela Strategies, Inc. 2.26% of their portfolio ATLANTA, GA 1,624,2761.6m $5.9m $5.9m 2.26% Added +1.4m +1,428,252
7 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,612,6241.6m $47.9m $47.9m 0.01% Reduced -12.9k -12,888
8 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,551,9571.6m $46.1m $46.1m 0.01% Reduced -629.0k -628,987
9 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 1,470,1041.5m $43.7m $43.7m 0.01% Added +68.9k +68,895
10 Kensington Asset Management, LLC 2.43% of their portfolio AUSTIN, TX 1,363,8701.4m $40.5m $40.5m 2.43% Unchanged
11 SOUTHERN FARM BUREAU LIFE INSURANCE 4.31% of their portfolio JACKSON, MS 1,231,4471.2m $36.5m $36.5m 4.31% Unchanged
12 1832 Asset Management L.P. 0.06% of their portfolio TORONTO, A6 1,215,9801.2m $36.2m $36.2m 0.06% Reduced -9.7k -9,663
13 Ocean Park Asset Management, LLC 1.29% of their portfolio SANTA MONICA, CA 1,049,2001.0m $31.2m $31.2m 1.29% Added +135.8k +135,800
14 Horizon Investments, LLC 0.39% of their portfolio Charlotte, NC 1,011,6641.0m $29.8m $29.8m 0.39% Added +256.2k +256,193
15 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 967,015967.0k $28.7m $28.7m 0.01% Unchanged
16 EVERGREEN CAPITAL MANAGEMENT LLC 0.55% of their portfolio Bellevue, WA 779,499779.5k $23.2m $23.2m 0.55% Reduced -254.1k -254,083
17 SCOTIA CAPITAL INC. 0.10% of their portfolio TORONTO, A6 770,333770.3k $22.9m $22.9m 0.10% Added +90.0k +90,024
18 Integrated Wealth Concepts LLC 0.20% of their portfolio WALTHAM, MA 738,558738.6k $22.0m $22.0m 0.20% Added +352.4k +352,445
19 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 717,676717.7k $21.3m $21.3m 0.01% Added +204.1k +204,059
20 Strategic Wealth Investment Group, LLC 1.70% of their portfolio LOUISVILLE, KY 680,221680.2k $20.2m $20.2m 1.70% Added +662.4k +662,445
21 Wealthcare Advisory Partners LLC 0.40% of their portfolio WEST CHESTER, PA 653,914653.9k $19.4m $19.4m 0.40% Added +26.0k +26,039
22 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 597,369597.4k $17.7m $17.7m 0.02% Added +472.1k +472,059
23 HOWARD FINANCIAL SERVICES, LTD. 2.14% of their portfolio DALLAS, TX 587,331587.3k $17.5m $17.5m 2.14% Added +34.5k +34,451
24 CAPE COD FIVE CENTS SAVINGS BANK 1.51% of their portfolio HYANNIS, MA 562,071562.1k $16.5m $16.5m 1.51% Unchanged
25 BRASS TAX WEALTH MANAGEMENT, INC 2.66% of their portfolio CINCINNATI, OH 537,307537.3k $16.0m $16.0m 2.66% Added +161.7k +161,727
26 American Financial Advisors, LLC 2.01% of their portfolio Marietta, GA 523,771523.8k $15.6m $15.6m 2.01% Added +38.3k +38,282
27 AE Wealth Management LLC 0.10% of their portfolio TOPEKA, KS 514,602514.6k $15.3m $15.3m 0.10% Added +25.1k +25,076
28 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 477,564477.6k $14.2m $14.2m 0.00% Added +5.7k +5,666
29 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 459,700459.7k $13.7m $13.7m 0.00% Reduced -250.8k -250,826
30 GUGGENHEIM CAPITAL LLC 0.10% of their portfolio CHICAGO, IL 455,203455.2k $13.5m $13.5m 0.10% Reduced -2.7k -2,682
31 Summit Financial, LLC 0.20% of their portfolio PARSIPPANY, NJ 440,385440.4k $13.1m $13.1m 0.20% New
32 CYPRESS FINANCIAL PLANNING LLC 4.01% of their portfolio HADDON HEIGHTS, NJ 439,541439.5k $13.1m $13.1m 4.01% Added +28.4k +28,438
33 Janney Capital Management LLC 0.78% of their portfolio PITTSBURGH, PA 420,052420.1k $12.5m $12.5m 0.78% Reduced -9.0k -9,048
34 UBS Group AG 0.00% of their portfolio ZURICH, V8 406,454406.5k $12.1m $12.1m 0.00% Added +240.7k +240,682
35 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 392,387392.4k $11.6m $11.6m 0.02% Added +22.1k +22,115
36 Destiny Wealth Partners, LLC 1.37% of their portfolio TAVARES, FL 375,144375.1k $11.2m $11.2m 1.37% Added +25.6k +25,599
37 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 373,176373.2k $11.1m $11.1m 0.01% Reduced -1.6k -1,619
38 Allworth Financial LP 0.05% of their portfolio FOLSOM, CA 369,499369.5k $11.0m $11.0m 0.05% Added +40.9k +40,943
39 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 354,762354.8k $10.5m $10.5m 0.01% Added +124.8k +124,822
40 Tower Research Capital LLC (TRC) 0.27% of their portfolio NEW YORK, NY 329,250329.2k $9.8m $9.8m 0.27% Added +329.2k +329,217
41 SHEPHERD KAPLAN KROCHUK, LLC 7.89% of their portfolio Boston, MA 323,476323.5k $9.6m $9.6m 7.89% Added +24.9k +24,860
42 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 308,478308.5k $9.2m $9.2m 0.03% Added +65.4k +65,404
43 Symphony Financial, Ltd. Co. 1.10% of their portfolio HOUSTON, TX 303,847303.8k $9.0m $9.0m 1.10% Added +4.9k +4,869
44 ACT Advisors, LLC. 3.43% of their portfolio ASHEVILLE, NC 285,636285.6k $8.5m $8.5m 3.43% Added +28.0k +28,013
45 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 280,851280.9k $8.3m $8.3m 0.02% Added +26.2k +26,237
46 Synergy Asset Management, LLC 0.28% of their portfolio VANCOUVER, WA 262,432262.4k $7.7m $7.7m 0.28% Added +131.2k +131,216
47 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 261,184261.2k $7.8m $7.8m 0.00% Added +189.7k +189,684
48 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 255,333255.3k $7.6m $7.6m 0.01% Added +39.4k +39,390
49 Allianz Investment Management U.S. LLC 0.28% of their portfolio Minneapolis, MN 248,042248.0k $7.4m $7.4m 0.28% Unchanged
50 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 245,552245.6k $7.3m $7.3m 0.01% Added +7.5k +7,507
51 PEAK FINANCIAL ADVISORS LLC 3.37% of their portfolio DENVER, CO 236,382236.4k $7.0m $7.0m 3.37% Reduced -37.8k -37,849
52 WRAPMANAGER INC 2.09% of their portfolio MILL VALLEY, CA 228,347228.3k $6.8m $6.8m 2.09% Reduced -70.8k -70,767
53 FAS Wealth Partners, Inc. 0.45% of their portfolio LEAWOOD, KS 223,309223.3k $6.6m $6.6m 0.45% Added +2.2k +2,242
54 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 219,168219.2k $6.5m $6.5m 0.02% Unchanged
55 OneDigital Investment Advisors LLC 0.07% of their portfolio OVERLAND PARK, KS 217,270217.3k $6.5m $6.5m 0.07% Added +11.6k +11,579
56 Ancora Advisors LLC 0.13% of their portfolio Cleveland, OH 212,317212.3k $6.3m $6.3m 0.13% Added +23.0k +22,994
57 Melone Private Wealth, LLC 2.85% of their portfolio AUBURN HILLS, MI 211,301211.3k $6.3m $6.3m 2.85% Added +2.1k +2,090
58 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 203,969204.0k $6.1m $6.1m 0.01% Added +1.5k +1,489
59 Tidal Investments LLC 0.03% of their portfolio Milwaukee, WI 199,253199.3k $5.9m $5.9m 0.03% Reduced -82.3k -82,319
60 Atlantic Edge Private Wealth Management, LLC 1.51% of their portfolio JACKSONVILLE, FL 197,166197.2k $5.9m $5.9m 1.51% Added +5.0k +4,987
61 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 182,379182.4k $5.4m $5.4m 0.01% Unchanged
62 KESTRA PRIVATE WEALTH SERVICES, LLC 0.07% of their portfolio AUSTIN, TX 181,565181.6k $5.4m $5.4m 0.07% Added +22.0k +21,984
63 MONEY CONCEPTS CAPITAL CORP 0.33% of their portfolio PALM BEACH GARDENS, FL 180,466180.5k $5.4m $5.4m 0.33% Added +6.0k +5,995
64 Lido Advisors, LLC 0.02% of their portfolio Los Angeles, CA 179,956180.0k $5.4m $5.4m 0.02% Reduced -3.5k -3,533
65 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 179,150179.2k $5.3m $5.3m 0.00% Reduced -4.3k -4,278
66 Steward Partners Investment Advisory, LLC 0.03% of their portfolio STAMFORD, CT 168,711168.7k $5.0m $5.0m 0.03% Added +25.0k +24,992
67 MOSAIC FAMILY WEALTH PARTNERS, LLC 0.57% of their portfolio ST. LOUIS, MO 162,998163.0k $4.8m $4.8m 0.57% Added +2.0k +2,038
68 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 156,700156.7k $4.7m $4.7m 0.01% Reduced -149.3k -149,300
69 Graney & King, LLC 3.21% of their portfolio LATHAM, NY 156,111156.1k $4.6m $4.6m 3.21% Added +37.8k +37,760
70 Family Legacy, Inc. 1.41% of their portfolio GREENVILLE, SC 155,642155.6k $4.6m $4.6m 1.41% Added +423 +423
71 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 155,053155.1k $4.6m $4.6m 0.01% New
72 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 151,965152.0k $4.5m $4.5m 0.00% Added +15.9k +15,938
73 Octavia Wealth Advisors, LLC 0.44% of their portfolio CINCINNATI, OH 149,399149.4k $4.4m $4.4m 0.44% Added +4.1k +4,124
74 Plan Group Financial, LLC 1.17% of their portfolio OKLAHOMA CITY, OK 146,061146.1k $4.3m $4.3m 1.17% Added +57.4k +57,369
75 Advyzon Investment Management, LLC 0.74% of their portfolio LISLE, IL 144,502144.5k $4.3m $4.3m 0.74% Added +19.3k +19,276
76 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 140,794140.8k $4.1m $4.1m 0.01% Added +53.4k +53,429
77 INSIGNEO ADVISORY SERVICES, LLC 0.29% of their portfolio MIAMI, FL 139,759139.8k $4.2m $4.2m 0.29% Added +10.8k +10,757
78 One Capital Management, LLC 0.13% of their portfolio WESTLAKE VILLAGE, CA 137,585137.6k $4.1m $4.1m 0.13% New
79 Hershey Financial Advisers, LLC 3.39% of their portfolio LANCASTER, PA 132,906132.9k $4.0m $4.0m 3.39% Reduced -2.4k -2,413
80 PRINCIPAL SECURITIES, INC. 0.06% of their portfolio DES MOINES, IA 131,806131.8k $3.9m $3.9m 0.06% Reduced -20.8k -20,782
81 Towneley Capital Management, Inc / DE 0.84% of their portfolio LAGUNA HILLS, CA 130,576130.6k $3.9m $3.9m 0.84% Added +2.2k +2,217
82 ROVIN CAPITAL /UT/ /ADV 0.56% of their portfolio MESA, AZ 130,330130.3k $3.8m $3.8m 0.56% Added +65.1k +65,104
83 SECURIAN ASSET MANAGEMENT, INC 0.10% of their portfolio ST PAUL, MN 129,000129.0k $3.8m $3.8m 0.10% Unchanged
84 Frank, Rimerman Advisors LLC 0.24% of their portfolio Palo Alto, CA 125,518125.5k $3.7m $3.7m 0.24% Unchanged
85 RiverFront Investment Group, LLC 0.06% of their portfolio RICHMOND, VA 119,678119.7k $3.6m $3.6m 0.06% Added +14.8k +14,821
86 SILVIA MCCOLL WEALTH MANAGEMENT, LLC 2.37% of their portfolio SAN DIEGO, CA 117,795117.8k $3.5m $3.5m 2.37% Reduced -1.4k -1,369
87 Cooper Financial Group 0.38% of their portfolio IRVINE, CA 116,789116.8k $3.5m $3.5m 0.38% Added +5.0k +4,962
88 Performa Ltd (US), LLC 0.91% of their portfolio CHARLESTON, SC 115,317115.3k $3.4m $3.4m 0.91% Added +4.0k +4,000
89 Stewardship Advisors, LLC 0.80% of their portfolio MOUNT JOY, PA 113,665113.7k $3.4m $3.4m 0.80% Added +3.4k +3,431
90 Accel Wealth Management 0.98% of their portfolio WAVERLY, IA 112,777112.8k $3.4m $3.4m 0.98% Reduced -8.3k -8,283
91 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 110,812110.8k $3.3m $3.3m 0.01% Added +2.1k +2,149
92 Betterment LLC 0.01% of their portfolio NEW YORK, NY 109,229109.2k $3.2m $3.2m 0.01% Added +5.7k +5,673
93 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 104,968105.0k $3.1m $3.1m 0.01% Added +57.5k +57,497
94 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 104,919104.9k $3.1m $3.1m 0.00% Reduced -89.9k -89,911
95 CONGRESS ASSET MANAGEMENT CO 0.02% of their portfolio BOSTON, MA 104,729104.7k $3.1m $3.1m 0.02% Reduced -1.4k -1,395
96 Piedmont Capital Management, LLC 1.59% of their portfolio WHITEFISH, MT 101,801101.8k $3.0m $3.0m 1.59% Added +6.6k +6,637
97 Darrow Company, Inc. 1.35% of their portfolio Needham, MA 98,59098.6k $2.9m $2.9m 1.35% Added +10.7k +10,730
98 CONNING INC. 0.10% of their portfolio HARTFORD, CT 97,26797.3k $2.9m $2.9m 0.10% Unchanged
99 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 93,28993.3k $2.8m $2.8m 0.00% Added +1.5k +1,459
100 Blue Trust, Inc. 0.03% of their portfolio BRENTWOOD, TN 93,12693.1k $2.8m $2.8m 0.03% Added +6.3k +6,320