Vault-13

VANECK ETF TRUST PPH

PHARMACEUTCL ETF · ETP · CUSIP 92189F692

129 institutional holders -9 vs Q1 2025
7,814,8447.8m shares reported held*
$687.4mreported value*
16 new 43 added 41 reduced 24 sold out net bought ≈ $178.1m (+2.0m 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. Holder counts are more reliable. Implied quarter-end price ≈ $87.96. Options: 4 managers hold calls ($3.3m notional), 6 hold puts ($41.4m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 87Q4 22: 114Q1 23: 107Q2 23: 103Q3 23: 105Q4 23: 111Q1 24: 137Q2 24: 142Q3 24: 143Q4 24: 143Q1 25: 138Q2 25: 129129Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202287
Q4 2022114
Q1 2023107
Q2 2023103
Q3 2023105
Q4 2023111
Q1 2024137
Q2 2024142
Q3 2024143
Q4 2024143
Q1 2025138
Q2 2025129

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 49 bought or addedQ3 23: 39 cut or sold outQ4 23: 53 bought or addedQ4 23: 47 cut or sold outQ4 23Q1 24: 73 bought or addedQ1 24: 43 cut or sold outQ2 24: 73 bought or addedQ2 24: 55 cut or sold outQ2 24Q3 24: 71 bought or addedQ3 24: 64 cut or sold outQ4 24: 68 bought or addedQ4 24: 70 cut or sold outQ4 24Q1 25: 54 bought or addedQ1 25: 74 cut or sold outQ2 25: 59 bought or addedQ2 25: 65 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234939
Q4 20235347
Q1 20247343
Q2 20247355
Q3 20247164
Q4 20246870
Q1 20255474
Q2 20255965

Calls vs puts

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

CallsPuts
$0$20m$40m$60m$80mQ3 24 calls: $1.2mQ3 24 puts: $693.7kQ3 24P/C 0.58Q4 24 calls: $1.3mQ4 24 puts: $4.4mQ4 24P/C 3.49Q1 25 calls: $1.7mQ1 25 puts: $64.7mQ1 25P/C 38.81Q2 25 calls: $3.3mQ2 25 puts: $41.4mQ2 25P/C 12.50
Numbers
QuarterCallsPutsP/C
Q3 2024$1.2m$693.7k0.58
Q4 2024$1.3m$4.4m3.49
Q1 2025$1.7m$64.7m38.81
Q2 2025$3.3m$41.4m12.50

Biggest buyers

GOLDMAN SACHS GROUP INC Added +1,602,598+1.6m
MORGAN STANLEY Added +446,997+447.0k
WELLS FARGO & COMPANY/MN Added +402,987+403.0k
Clal Insurance Enterprises Holdings Ltd New +325,000+325.0k
JANE STREET GROUP, LLC Added +270,253+270.3k
JPMORGAN CHASE & CO Added +247,171+247.2k
Verity & Verity, LLC New +131,320+131.3k
Hamilton Wealth, LLC Added +128,785+128.8k
CITIGROUP INC New +66,024+66.0k
Tower Research Capital LLC (TRC) Added +34,614+34.6k

Biggest sellers

Fisher Asset Management, LLC Reduced -1,263,699-1.3m
Quadrature Capital Ltd Sold out -135,786-135.8k
BANK OF AMERICA CORP /DE/ Reduced -118,459-118.5k
UBS Group AG Reduced -58,289-58.3k
TWO SIGMA INVESTMENTS, LP Sold out -50,473-50.5k
Twelve Points Wealth Management LLC Sold out -38,207-38.2k
Prime Capital Investment Advisors, LLC Reduced -34,805-34.8k
Fluent Financial, LLC Sold out -16,923-16.9k
IMC-Chicago, LLC Sold out -12,204-12.2k
CITADEL ADVISORS LLC Reduced -10,135-10.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.0m23.3k shares
CITADEL ADVISORS LLC Added $536.6k6.1k shares
Squarepoint Ops LLC New $501.4k5.7k shares
JANE STREET GROUP, LLC Reduced $228.7k2.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $18.9m214.4k shares
J. Goldman & Co LP Reduced $11.6m131.8k shares
JANE STREET GROUP, LLC Added $8.6m98.1k shares
CITADEL ADVISORS LLC Reduced $1.1m13.0k shares
WELLS FARGO & COMPANY/MN New $721.3k8.2k shares
Squarepoint Ops LLC New $501.4k5.7k 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 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 2,762,7702.8m $243.0m $243.0m 0.04% Added +1.6m +1,602,598
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 538,398538.4k $47.4m $47.4m 0.00% Added +447.0k +446,997
3 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.09% of their portfolio TORONTO, A6 512,000512.0k $45.0m $45.0m 0.09% Unchanged
4 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 402,987403.0k $35.4m $35.4m 0.01% Added +403.0k +402,987
5 Clal Insurance Enterprises Holdings Ltd 0.28% of their portfolio Tel-aviv, L3 325,000325.0k $28.6m $28.6m 0.28% New
6 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 299,380299.4k $26.3m $26.3m 0.04% Added +270.3k +270,253
7 Avalon Trust Co 1.80% of their portfolio SANTA FE, NM 280,477280.5k $24.7m $24.7m 1.80% Reduced -3.2k -3,208
8 J.Safra Asset Management Corp 1.68% of their portfolio NEW YORK, NY 273,776273.8k $24.1m $24.1m 1.68% Added +5.0k +4,950
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 255,837255.8k $22.5m $22.5m 0.00% Added +247.2k +247,171
10 ADAMSBROWN WEALTH CONSULTANTS LLC 5.00% of their portfolio WICHITA, KS 195,976196.0k $17.2m $17.2m 5.00% Added +21.1k +21,074
11 Miller Investment Management, LP 1.68% of their portfolio WEST CONSHOHOCKEN, PA 181,536181.5k $16.0m $16.0m 1.68% Reduced -8.1k -8,098
12 UBS Group AG 0.00% of their portfolio ZURICH, V8 163,718163.7k $14.4m $14.4m 0.00% Reduced -58.3k -58,289
13 Hamilton Wealth, LLC 2.61% of their portfolio LOS ANGELES, CA 132,463132.5k $11.7m $11.7m 2.61% Added +128.8k +128,785
14 Verity & Verity, LLC 0.99% of their portfolio BEAUFORT, SC 131,320131.3k $11.6m $11.6m 0.99% New
15 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 108,629108.6k $9.6m $9.6m 0.01% Unchanged
16 Prime Capital Investment Advisors, LLC 0.11% of their portfolio OVERLAND PARK, KS 96,87096.9k $8.5m $8.5m 0.11% Reduced -34.8k -34,805
17 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 70,32670.3k $6.2m $6.2m 0.00% Added +2.7k +2,730
18 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 66,02466.0k $5.8m $5.8m 0.00% New
19 Phoenix Financial Ltd. 0.07% of their portfolio Givatayim, L3 61,27661.3k $5.4m $5.4m 0.07% Added +7.4k +7,417
20 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 59,63759.6k $5.2m $5.2m 0.00% Reduced -118.5k -118,459
21 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 53,66453.7k $4.7m $4.7m 0.01% Added +27.6k +27,553
22 Independent Advisor Alliance 0.13% of their portfolio CHARLOTTE, NC 51,51951.5k $4.5m $4.5m 0.13% Added +5.2k +5,207
23 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 48,22848.2k $4.2m $4.2m 0.00% Reduced -258 -258
24 WT Wealth Management 1.21% of their portfolio SCOTTSDALE, AZ 46,59746.6k $4.1m $4.1m 1.21% Reduced -5.1k -5,095
25 AAFMAA Wealth Management & Trust LLC 1.42% of their portfolio FAYETTEVILLE, NC 39,08139.1k $3.4m $3.4m 1.42% Reduced -2.9k -2,875
26 LEVEL FOUR ADVISORY SERVICES, LLC 0.12% of their portfolio DALLAS, TX 37,49537.5k $3.3m $3.3m 0.12% Added +1.1k +1,132
27 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 36,01736.0k $3.2m $3.2m 0.01% Added +1.4k +1,387
28 Tower Research Capital LLC (TRC) 0.08% of their portfolio NEW YORK, NY 34,62434.6k $3.0m $3.0m 0.08% Added +34.6k +34,614
29 Orion Porfolio Solutions, LLC 0.03% of their portfolio OMAHA, NE 33,51333.5k $2.9m $2.9m 0.03% Reduced -2.0k -1,977
30 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 31,27731.3k $2.8m $2.8m 0.00% Reduced -10.1k -10,135
31 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 30,25430.3k $2.7m $2.7m 0.00% New
32 Aspen Grove Capital, LLC 0.39% of their portfolio AVON, CO 25,84425.8k $2.3m $2.3m 0.39% Added +150 +150
33 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 22,41722.4k $2.0m $2.0m 0.00% Added +2.4k +2,363
34 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 22,12522.1k $1.9m $1.9m 0.00% Added +10.0k +9,992
35 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 20,68120.7k $1.8m $1.8m 0.00% New
36 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 16,19016.2k $1.4m $1.4m 0.00% Added +16.1k +16,074
37 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 16,16116.2k $1.4m $1.4m 0.01% Unchanged
38 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 15,00115.0k $1.3m $1.3m 0.00% Reduced -1.3m -1,263,699
39 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 14,40014.4k $1.3m $1.3m 0.00% New
40 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 14,24114.2k $1.3m $1.3m 0.01% Added +226 +226
41 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 13,28713.3k $1.2m $1.2m 0.00% Reduced -5.3k -5,339
42 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,79012.8k $1.1m $1.1m 0.00% Added +5.6k +5,553
43 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 12,29512.3k $1.1m $1.1m 0.00% Added +3.1k +3,140
44 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 11,45611.5k $1.0m $1.0m 0.00% Reduced -6 -6
45 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 11,39811.4k $1.0m $1.0m 0.00% Reduced -4.2k -4,190
46 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 11,11111.1k $977.3k $977.3k 0.01% Added +228 +228
47 Canton Hathaway, LLC 0.18% of their portfolio PROVIDENCE, RI 10,00010.0k $880.0k $880.0k 0.18% Unchanged
48 Hudock, Inc. 0.13% of their portfolio Williamsport, PA 9,2179.2k $810.8k $810.8k 0.13% New
49 AXXCESS WEALTH MANAGEMENT, LLC 0.02% of their portfolio CARLSBAD, CA 9,1149.1k $801.7k $801.7k 0.02% Added +416 +416
50 Financial Freedom, LLC 0.43% of their portfolio CINCINNATI, OH 9,0069.0k $792.2k $792.2k 0.43% Added +15 +15
51 BURKE & HERBERT BANK & TRUST CO 0.17% of their portfolio ALEXANDRIA, VA 8,8658.9k $779.8k $779.8k 0.17% Unchanged
52 NTV Asset Management LLC 0.08% of their portfolio Charleston, WV 7,9578.0k $699.9k $699.9k 0.08% Reduced -1.2k -1,215
53 Arkadios Wealth Advisors 0.02% of their portfolio ATLANTA, GA 7,7807.8k $684.3k $684.3k 0.02% New
54 Tradition Wealth Management, LLC 0.04% of their portfolio EDINA, MN 6,0646.1k $533.4k $533.4k 0.04% Reduced -400 -400
55 Belpointe Asset Management LLC 0.02% of their portfolio RENO, NV 5,7045.7k $501.7k $501.7k 0.02% Reduced -93 -93
56 Copia Wealth Management 0.40% of their portfolio BEND, OR 5,4295.4k $477.5k $477.5k 0.40% Reduced -733 -733
57 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 5,2095.2k $458.2k $458.2k 0.01% Reduced -492 -492
58 Conservest Capital Advisors, Inc. 0.04% of their portfolio WYNNEWOOD, PA 5,0595.1k $445.0k $445.0k 0.04% Added +8 +8
59 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 4,8054.8k $423.0k $423.0k 0.00% Reduced -50 -50
60 WARNER FINANCIAL, INC 0.17% of their portfolio BETHESDA, MD 4,6364.6k $408.0k $408.0k 0.17% Added +28 +28
61 Telos Capital Management, Inc. 0.04% of their portfolio SAN DIEGO, CA 4,5164.5k $397.2k $397.2k 0.04% Added +92 +92
62 TWO SIGMA SECURITIES, LLC 0.05% of their portfolio NEW YORK, NY 4,4804.5k $394.1k $394.1k 0.05% Added +1.3k +1,282
63 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 4,4504.5k $391.5k $391.5k 0.01% Added +394 +394
64 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 4,2754.3k $376.1k $376.1k 0.00% Reduced -722 -722
65 Investment Partners Asset Management, Inc. 0.26% of their portfolio METUCHEN, NJ 4,2194.2k $371.1k $371.1k 0.26% Reduced -12 -12
66 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 4,0754.1k $358.4k $358.4k 0.00% Reduced -373 -373
67 Stratos Wealth Advisors, LLC 0.02% of their portfolio BEACHWOOD, OH 4,0664.1k $357.7k $357.7k 0.02% Reduced -31 -31
68 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 4,0444.0k $355.7k $355.7k 0.00% Reduced -1.0k -1,015
69 BANK HAPOALIM BM 0.05% of their portfolio TEL AVIV, L3 3,9483.9k $347.0k $347.0k 0.05% Reduced -95 -95
70 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 3,8003.8k $334.2k $334.2k 0.00% Unchanged
71 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 3,5933.6k $316.0k $316.0k 0.00% Unchanged
72 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 3,3643.4k $295.9k $295.9k 0.00% Reduced -47 -47
73 Buska Wealth Management, LLC 0.08% of their portfolio WAUSAU, WI 3,2973.3k $290.0k $290.0k 0.08% Reduced -729 -729
74 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 3,2623.3k $286.9k $286.9k 0.00% New
75 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 3,2403.2k $283.4k $283.4k 0.00% Added +390 +390
76 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 3,1533.2k $277.0k $277.0k 0.00% Reduced -236 -236
77 Trexquant Investment LP 0.00% of their portfolio STAMFORD, CT 3,1513.2k $277.2k $277.2k 0.00% New
78 KCM INVESTMENT ADVISORS LLC 0.01% of their portfolio GREENBRAE, CA 2,8932.9k $254.5k $254.5k 0.01% Reduced -30 -30
79 Dunhill Financial, LLC 0.07% of their portfolio LONDON, X0 2,8332.8k $249.2k $249.2k 0.07% New
80 CERTUITY, LLC 0.02% of their portfolio NORTH PALM BEACH, FL 2,8072.8k $246.9k $246.9k 0.02% Added +16 +16
81 U.S. Capital Wealth Advisors, LLC 0.01% of their portfolio AUSTIN, TX 2,7502.8k $241.9k $241.9k 0.01% Added +150 +150
82 Atria Wealth Solutions, Inc. 0.01% of their portfolio NEW YORK, NY 2,7392.7k $240.9k $240.9k 0.01% Unchanged
83 SAPIENT CAPITAL LLC 0.00% of their portfolio INDIANAPOLIS, IN 2,5882.6k $227.6k $227.6k 0.00% Unchanged
84 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 2,5552.6k $224.7k $224.7k 0.00% Added +185 +185
85 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 2,5112.5k $221.0k $221.0k 0.00% Added +52 +52
86 GSA CAPITAL PARTNERS LLP 0.02% of their portfolio LONDON, X0 2,5102.5k $221.0k $221.0k 0.02% Reduced -341 -341
87 Elm3 Financial Group, LLC 0.18% of their portfolio ALPHARETTA, GA 2,4392.4k $214.5k $214.5k 0.18% Reduced -691 -691
88 Beacon Pointe Advisors, LLC 0.00% of their portfolio NEWPORT BEACH, CA 2,4282.4k $213.6k $213.6k 0.00% Unchanged
89 Westside Investment Management, Inc. 0.04% of their portfolio SANTA MONICA, CA 2,3512.4k $207.9k $207.9k 0.04% New
90 CREATIVE FINANCIAL DESIGNS INC /ADV 0.01% of their portfolio KOKOMO, IN 2,1292.1k $187.3k $187.3k 0.01% Added +327 +327
91 FMR LLC 0.00% of their portfolio BOSTON, MA 1,4611.5k $128.5k $128.5k 0.00% Reduced -39 -39
92 HHM Wealth Advisors, LLC 0.01% of their portfolio CHATTANOOGA, TN 1,3501.4k $118.7k $118.7k 0.01% Unchanged
93 North Star Investment Management Corp. 0.01% of their portfolio CHICAGO, IL 1,1091.1k $97.6k $97.6k 0.01% Added +1 +1
94 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 1,0041.0k $88.3k $88.3k 0.00% Reduced -42 -42
95 Sunbelt Securities, Inc. 0.01% of their portfolio HOUSTON, TX 1,0001.0k $86.3k $86.3k 0.01% New
96 DecisionPoint Financial, LLC 0.02% of their portfolio MESA, AZ 1,0001.0k $88.4k $88.4k 0.02% Unchanged
97 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 938938 $82.5k $82.5k 0.00% Reduced -61 -61
98 MONTAG A & ASSOCIATES INC 0.00% of their portfolio ATLANTA, GA 660660 $58.1k $58.1k 0.00% Unchanged
99 Banque Cantonale Vaudoise 0.00% of their portfolio LAUSANNE, V8 629629 $55.0k $55.0k 0.00% Unchanged
100 Park Square Financial Group, LLC 0.04% of their portfolio ROSWELL, GA 600600 $52.8k $52.8k 0.04% Unchanged