Vault-13

VANECK ETF TRUST BBH

BIOTECH ETF · ETP · CUSIP 92189F726

99 institutional holders -7 vs Q1 2025
782,202782.2k shares reported held*
$120.0mreported value*
9 new 15 added 25 reduced 17 sold out net sold ≈ $6.7m (-43.9k 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 ≈ $153.46. Options: 1 managers hold calls ($275.9k notional), 2 hold puts ($643.8k).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 102Q4 22: 118Q1 23: 113Q2 23: 111Q3 23: 110Q4 23: 116Q1 24: 113Q2 24: 117Q3 24: 116Q4 24: 116Q1 25: 106Q2 25: 9999Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022102
Q4 2022118
Q1 2023113
Q2 2023111
Q3 2023110
Q4 2023116
Q1 2024113
Q2 2024117
Q3 2024116
Q4 2024116
Q1 2025106
Q2 202599

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 30 bought or addedQ3 23: 40 cut or sold outQ4 23: 35 bought or addedQ4 23: 42 cut or sold outQ4 23Q1 24: 43 bought or addedQ1 24: 33 cut or sold outQ2 24: 33 bought or addedQ2 24: 42 cut or sold outQ2 24Q3 24: 27 bought or addedQ3 24: 38 cut or sold outQ4 24: 36 bought or addedQ4 24: 45 cut or sold outQ4 24Q1 25: 20 bought or addedQ1 25: 53 cut or sold outQ2 25: 24 bought or addedQ2 25: 42 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233040
Q4 20233542
Q1 20244333
Q2 20243342
Q3 20242738
Q4 20243645
Q1 20252053
Q2 20252442

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ3 24 calls: $2.2mQ3 24 puts: $0Q3 24P/C 0.00Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $2.6mQ1 25 puts: $204.5kQ1 25P/C 0.08Q2 25 calls: $275.9kQ2 25 puts: $643.8kQ2 25P/C 2.33
Numbers
QuarterCallsPutsP/C
Q3 2024$2.2m$00.00
Q4 2024$0$0—
Q1 2025$2.6m$204.5k0.08
Q2 2025$275.9k$643.8k2.33

Biggest buyers

RAYMOND JAMES FINANCIAL INC Added +48,297+48.3k
ROYAL BANK OF CANADA Added +19,983+20.0k
Bleakley Financial Group, LLC New +18,980+19.0k
Rockefeller Capital Management L.P. Added +12,105+12.1k
BANK OF AMERICA CORP /DE/ Added +7,898+7.9k
CITADEL ADVISORS LLC Added +5,638+5.6k
CITIGROUP INC New +5,482+5.5k
Paragon Private Wealth Management, LLC New +4,140+4.1k
GOLDMAN SACHS GROUP INC Added +3,790+3.8k
EWG Elevate Inc. New +2,371+2.4k

Biggest sellers

MORGAN STANLEY Reduced -45,661-45.7k
WELLS FARGO & COMPANY/MN Reduced -34,437-34.4k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -20,853-20.9k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -17,851-17.9k
Miller Investment Management, LP Reduced -10,373-10.4k
UBS Group AG Reduced -6,636-6.6k
Plan A Wealth LLC Reduced -5,046-5.0k
Consolidated Investment Group LLC Sold out -5,000-5.0k
JANE STREET GROUP, LLC Sold out -4,187-4.2k
JPMORGAN CHASE & CO Reduced -3,044-3.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $275.9k1.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $367.9k2.4k shares
Belvedere Trading LLC New $275.9k1.8k 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 0.00% of their portfolio NEW YORK, NY 109,971110.0k $16.9m $16.9m 0.00% Added +3.8k +3,790
2 Miller Investment Management, LP 1.31% of their portfolio WEST CONSHOHOCKEN, PA 81,43281.4k $12.5m $12.5m 1.31% Reduced -10.4k -10,373
3 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 67,94067.9k $10.4m $10.4m 0.00% Added +48.3k +48,297
4 TD Waterhouse Canada Inc. 0.07% of their portfolio TORONTO, A6 64,73664.7k $10.0m $10.0m 0.07% Added +28 +28
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 52,46652.5k $8.0m $8.0m 0.00% Added +7.9k +7,898
6 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 38,00438.0k $5.8m $5.8m 0.00% Added +20.0k +19,983
7 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 31,31131.3k $4.8m $4.8m 0.00% Reduced -45.7k -45,661
8 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 27,47127.5k $4.2m $4.2m 0.00% Reduced -34.4k -34,437
9 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 23,62223.6k $3.6m $3.6m 0.00% Added +12.1k +12,105
10 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 22,29522.3k $3.4m $3.4m 0.00% Reduced -1.9k -1,880
11 UBS Group AG 0.00% of their portfolio ZURICH, V8 21,22321.2k $3.3m $3.3m 0.00% Reduced -6.6k -6,636
12 Bleakley Financial Group, LLC 0.07% of their portfolio PARSIPPANY, NJ 18,98019.0k $2.9m $2.9m 0.07% New
13 Conservest Capital Advisors, Inc. 0.24% of their portfolio WYNNEWOOD, PA 15,71315.7k $2.4m $2.4m 0.24% Reduced -1.7k -1,716
14 BOSTON RESEARCH & MANAGEMENT INC 0.40% of their portfolio MANCHESTER, MA 10,81210.8k $1.7m $1.7m 0.40% Reduced -499 -499
15 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 10,75810.8k $1.6m $1.6m 0.00% Reduced -17.9k -17,851
16 Aspen Grove Capital, LLC 0.26% of their portfolio AVON, CO 9,97810.0k $1.5m $1.5m 0.26% Unchanged
17 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 9,6229.6k $1.5m $1.5m 0.00% Reduced -236 -236
18 ALTFEST L J & CO INC 0.15% of their portfolio NEW YORK, NY 8,5308.5k $1.3m $1.3m 0.15% Added +869 +869
19 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 8,1608.2k $1.3m $1.3m 0.00% Added +5.6k +5,638
20 Institute for Wealth Management, LLC. 0.13% of their portfolio DENVER, CO 7,5817.6k $1.2m $1.2m 0.13% Unchanged
21 PEAPACK GLADSTONE FINANCIAL CORP 0.02% of their portfolio BEDMINSTER, NJ 7,4387.4k $1.1m $1.1m 0.02% Reduced -717 -717
22 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 7,4247.4k $1.1m $1.1m 0.00% Reduced -172 -172
23 Plan A Wealth LLC 0.61% of their portfolio LINCOLN, NE 7,0497.0k $1.1m $1.1m 0.61% Reduced -5.0k -5,046
24 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 6,7566.8k $1.0m $1.0m 0.00% Reduced -50 -50
25 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 6,6456.6k $1.0m $1.0m 0.00% Reduced -1.5k -1,485
26 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 5,9455.9k $911.2k $911.2k 0.00% Reduced -1.3k -1,307
27 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 5,7955.8k $888.3k $888.3k 0.00% Added +43 +43
28 ATLAS CAPITAL ADVISORS INC. 0.11% of their portfolio JACKSON, WY 5,7005.7k $873.7k $873.7k 0.11% Unchanged
29 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 5,4825.5k $840.3k $840.3k 0.00% New
30 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 4,9585.0k $760.0k $760.0k 0.00% Unchanged
31 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 4,9434.9k $757.7k $757.7k 0.00% Reduced -713 -713
32 Pacific Sun Financial Corp 0.35% of their portfolio LOS ANGELES, CA 4,3934.4k $673.4k $673.4k 0.35% Reduced -430 -430
33 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,2964.3k $658.5k $658.5k 0.00% Reduced -3.0k -3,044
34 Paragon Private Wealth Management, LLC 0.25% of their portfolio LEXINGTON, KY 4,1404.1k $634.6k $634.6k 0.25% New
35 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 4,0004.0k $613.1k $613.1k 0.00% Unchanged
36 Navis Wealth Advisors, LLC 0.51% of their portfolio RYE BROOK, NY 3,9784.0k $609.8k $609.8k 0.51% Unchanged
37 ASPIRIANT, LLC 0.02% of their portfolio San Francisco, CA 3,7273.7k $571.3k $571.3k 0.02% Reduced -510 -510
38 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 3,5283.5k $540.8k $540.8k 0.00% Reduced -103 -103
39 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 3,0653.1k $470.0k $470.0k 0.00% Unchanged
40 Tower Research Capital LLC (TRC) 0.01% of their portfolio NEW YORK, NY 2,9973.0k $459.4k $459.4k 0.01% Reduced -1.2k -1,191
41 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 2,5702.6k $392.8k $392.8k 0.00% Reduced -265 -265
42 FLAGSHIP HARBOR ADVISORS, LLC 0.02% of their portfolio BOSTON, MA 2,4602.5k $377.0k $377.0k 0.02% Added +281 +281
43 EWG Elevate Inc. 0.11% of their portfolio ROSEVILLE, CA 2,3712.4k $363.4k $363.4k 0.11% New
44 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 2,2702.3k $358.0k $358.0k 0.00% Unchanged
45 Williams Jones Wealth Management, LLC. 0.00% of their portfolio NEW YORK, NY 2,2002.2k $337.2k $337.2k 0.00% Unchanged
46 Pine Valley Investments Ltd Liability Co 0.02% of their portfolio MARLTON, NJ 2,1502.1k $329.6k $329.6k 0.02% Unchanged
47 Texas Yale Capital Corp. 0.01% of their portfolio ST. PETERSBURG, FL 2,0852.1k $319.6k $319.6k 0.01% Unchanged
48 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 2,0312.0k $311.3k $311.3k 0.00% Reduced -1.1k -1,063
49 Blue Fin Capital, Inc. 0.04% of their portfolio Warren, RI 1,5701.6k $240.7k $240.7k 0.04% Unchanged
50 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,5081.5k $231.3k $231.3k 0.00% Reduced -20.9k -20,853
51 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,4651.5k $224.6k $224.6k 0.00% Added +682 +682
52 Hummer Financial Advisory Services Inc 0.16% of their portfolio Chicago, IL 1,4101.4k $216.1k $216.1k 0.16% Unchanged
53 Robertson Stephens Wealth Management, LLC 0.01% of their portfolio San Francisco, CA 1,4021.4k $214.9k $214.9k 0.01% Added +50 +50
54 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 1,3761.4k $210.9k $210.9k 0.00% Reduced -367 -367
55 Tyler-Stone Wealth Management 0.03% of their portfolio Beachwood, OH 1,3081.3k $200.5k $200.5k 0.03% Unchanged
56 Banque Cantonale Vaudoise 0.01% of their portfolio LAUSANNE, V8 1,2061.2k $185.0k $185.0k 0.01% New
57 Wilmington Savings Fund Society, FSB 0.00% of their portfolio WILMINGTON, DE 1,0321.0k $158.2k $158.2k 0.00% Added +18 +18
58 UMB Bank, n.a. 0.00% of their portfolio Kansas City, MO 900900 $138.0k $138.0k 0.00% Unchanged
59 Evelyn Partners Asset Management Ltd 0.03% of their portfolio London, X0 805805 $123.4k $123.4k 0.03% Unchanged
60 COMERICA BANK 0.00% of their portfolio DALLAS, TX 675675 $103.5k $103.5k 0.00% Unchanged
61 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 432432 $66.2k $66.2k 0.00% Added +1 +1
62 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 425425 $65.1k $65.1k 0.00% Unchanged
63 North Star Investment Management Corp. 0.00% of their portfolio CHICAGO, IL 373373 $57.2k $57.2k 0.00% Unchanged
64 Ameritas Advisory Services, LLC 0.00% of their portfolio Lincoln, NE 371371 $56.9k $56.9k 0.00% New
65 FMR LLC 0.00% of their portfolio BOSTON, MA 332332 $50.9k $50.9k 0.00% Added +3 +3
66 LFA - Lugano Financial Advisors SA 0.03% of their portfolio LUGANO, V8 310310 $47.5k $47.5k 0.03% Unchanged
67 FSA Wealth Management LLC 0.02% of their portfolio Needham, MA 305305 $46.7k $46.7k 0.02% Unchanged
68 Manchester Capital Management LLC 0.01% of their portfolio MANCHESTER, VT 300300 $46.0k $46.0k 0.01% Unchanged
69 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 287287 $44.0k $44.0k 0.00% Unchanged
70 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 265265 $40.6k $40.6k 0.00% Unchanged
71 Truvestments Capital LLC 0.01% of their portfolio SARASOTA, FL 250250 $38.3k $38.3k 0.01% Unchanged
72 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 235235 $36.0k $36.0k 0.00% Unchanged
73 CWM, LLC 0.00% of their portfolio OMAHA, NE 225225 $34.0k $34.0k 0.00% Unchanged
74 Caldwell Trust Co 0.00% of their portfolio Venice, FL 225225 $34.5k $34.5k 0.00% Unchanged
75 Tidemark, LLC 0.01% of their portfolio SAN DIEGO, CA 207207 $31.7k $31.7k 0.01% Unchanged
76 Coastline Trust Co 0.00% of their portfolio PROVIDENCE, RI 190190 $29.1k $29.1k 0.00% Unchanged
77 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 190190 $29.1k $29.1k 0.00% Unchanged
78 Anchor Investment Management, LLC 0.00% of their portfolio COLUMBIA, SC 160160 $24.5k $24.5k 0.00% Unchanged
79 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 148148 $22.7k $22.7k 0.00% Unchanged
80 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 124124 $19.0k $19.0k 0.00% First filing
81 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 121121 $18.5k $18.5k 0.00% Unchanged
82 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 120120 $18.4k $18.4k 0.00% Unchanged
83 WHITTIER TRUST CO 0.00% of their portfolio SOUTH PASADENA, CA 100100 $15.3k $15.3k 0.00% Unchanged
84 Founders Capital Management 0.01% of their portfolio HOUSTON, TX 100100 $15.3k $15.3k 0.01% Unchanged
85 Financial Perspectives, Inc 0.00% of their portfolio MINNEAPOLIS, MN 8888 $13.5k $13.5k 0.00% Unchanged
86 HighMark Wealth Management LLC 0.01% of their portfolio ST. PAUL, MN 8080 $12.3k $12.3k 0.01% Unchanged
87 1 NORTH WEALTH SERVICES LLC 0.00% of their portfolio ANNAPOLIS, MD 7878 $12.0k $12.0k 0.00% Unchanged
88 PRINCIPAL SECURITIES, INC. 0.00% of their portfolio DES MOINES, IA 7272 $11.0k $11.0k 0.00% Unchanged
89 HOLLENCREST CAPITAL MANAGEMENT 0.00% of their portfolio NEWPORT BEACH, CA 7070 $10.7k $10.7k 0.00% Unchanged
90 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 7070 $10.7k $10.7k 0.00% New
91 BlackRock, Inc. 0.00% of their portfolio New York, NY 7070 $10.7k $10.7k 0.00% New
92 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 4343 $6.6k $6.6k 0.00% New
93 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 3939 $5.9k $5.9k 0.00% Unchanged
94 CARDIFF PARK ADVISORS, LLC 0.00% of their portfolio SAN MARCOS, CA 3535 $5.4k $5.4k 0.00% Unchanged
95 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 3030 $4.6k $4.6k 0.00% Unchanged
96 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 2525 $3.8k $3.8k 0.00% Unchanged
97 Pacifica Partners Inc. 0.00% of their portfolio SURREY, Z4 2525 $3.8k $3.8k 0.00% Unchanged
98 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 2424 $3.7k $3.7k 0.00% Unchanged
99 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged