Vault-13

VANECK ETF TRUST HYD

HIGH YLD MUNIETF · ETP · CUSIP 92189H409

346 institutional holders +10 vs Q3 2025
58,044,47158.0m shares reported held*
$3.0bnreported value*
26 new 141 added 118 reduced 30 sold out net bought ≈ $402.3m (+8.0m 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 ($2.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $51.02. Options: 5 managers hold calls ($10.6m notional), 4 hold puts ($28.2m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 256Q4 22: 283Q1 23: 283Q2 23: 284Q3 23: 289Q4 23: 320Q1 24: 304Q2 24: 318Q3 24: 330Q4 24: 342Q1 25: 347Q2 25: 328Q3 25: 336Q4 25: 346346Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022256
Q4 2022283
Q1 2023283
Q2 2023284
Q3 2023289
Q4 2023320
Q1 2024304
Q2 2024318
Q3 2024330
Q4 2024342
Q1 2025347
Q2 2025328
Q3 2025336
Q4 2025346

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 167 bought or addedQ1 24: 143 cut or sold outQ2 24: 162 bought or addedQ2 24: 135 cut or sold outQ2 24Q3 24: 160 bought or addedQ3 24: 147 cut or sold outQ4 24: 164 bought or addedQ4 24: 148 cut or sold outQ4 24Q1 25: 164 bought or addedQ1 25: 159 cut or sold outQ2 25: 154 bought or addedQ2 25: 189 cut or sold outQ2 25Q3 25: 168 bought or addedQ3 25: 152 cut or sold outQ4 25: 167 bought or addedQ4 25: 148 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024167143
Q2 2024162135
Q3 2024160147
Q4 2024164148
Q1 2025164159
Q2 2025154189
Q3 2025168152
Q4 2025167148

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ1 25 calls: $4.9mQ1 25 puts: $9.9mQ1 25P/C 2.00Q2 25 calls: $6.6mQ2 25 puts: $6.7mQ2 25P/C 1.01Q3 25 calls: $11.0mQ3 25 puts: $6.1mQ3 25P/C 0.55Q4 25 calls: $10.6mQ4 25 puts: $28.2mQ4 25P/C 2.67
Numbers
QuarterCallsPutsP/C
Q1 2025$4.9m$9.9m2.00
Q2 2025$6.6m$6.7m1.01
Q3 2025$11.0m$6.1m0.55
Q4 2025$10.6m$28.2m2.67

Biggest buyers

American Family Investments, Inc. New +2,907,018+2.9m
HighTower Advisors, LLC Added +2,172,057+2.2m
FMR LLC Added +1,306,746+1.3m
GOLDMAN SACHS GROUP INC Added +979,189+979.2k
BANK OF AMERICA CORP /DE/ Added +938,789+938.8k
Man Group plc Added +449,680+449.7k
SEI INVESTMENTS CO Added +271,992+272.0k
FSA Advisors, Inc. New +132,749+132.7k
CAPSTONE INVESTMENT ADVISORS, LLC Added +103,400+103.4k
Symphony Financial, Ltd. Co. New +84,289+84.3k

Biggest sellers

AMERIPRISE FINANCIAL INC Reduced -654,186-654.2k
PRUDENTIAL FINANCIAL INC Reduced -347,105-347.1k
MORGAN STANLEY Reduced -173,260-173.3k
OSAIC HOLDINGS, INC. Reduced -163,774-163.8k
SUMMIT WEALTH GROUP LLC / CO Reduced -121,955-122.0k
Focus Partners Wealth Reduced -116,843-116.8k
Focus Partners Advisor Solutions, LLC Sold out -82,009-82.0k
RENAISSANCE TECHNOLOGIES LLC Reduced -76,777-76.8k
SageView Advisory Group, LLC Reduced -67,649-67.6k
TRUIST FINANCIAL CORP Reduced -65,380-65.4k

Biggest calls

ROBINSON CAPITAL MANAGEMENT, LLC Reduced $4.9m96.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $2.6m50.3k shares
CITADEL ADVISORS LLC Added $2.0m39.3k shares
GROUP ONE TRADING LLC Added $639.0k12.9k shares
JANE STREET GROUP, LLC Added $434.5k8.5k shares

Biggest puts

Centiva Capital, LP New $25.6m500.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.3m26.2k shares
CITADEL ADVISORS LLC Reduced $787.2k15.4k shares
JANE STREET GROUP, LLC Added $501.0k9.8k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution +2.2 pts · filed 2026-08-06 9.2% +2.2 pts 8.1m≈ $418.0m 2026-08-06

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.06% of their portfolio CHARLOTTE, NC 17,470,10217.5m $893.1m $893.1m 0.06% Added +938.8k +938,789
2 FMR LLC 0.02% of their portfolio BOSTON, MA 6,249,6816.2m $319.5m $319.5m 0.02% Added +1.3m +1,306,746
3 SEI INVESTMENTS CO 0.16% of their portfolio OAKS, PA 3,243,0793.2m $165.8m $165.8m 0.16% Added +272.0k +271,992
4 American Family Investments, Inc. 5.35% of their portfolio MADISON, WI 2,907,0182.9m $148.6m $148.6m 5.35% New
5 HighTower Advisors, LLC 0.14% of their portfolio CHICAGO, IL 2,499,4272.5m $127.8m $127.8m 0.14% Added +2.2m +2,172,057
6 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.07% of their portfolio MILWAUKEE, WI 2,040,0682.0m $104.3m $104.3m 0.07% Added +79.4k +79,434
7 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,882,3601.9m $96.2m $96.2m 0.02% Reduced -13.0k -13,036
8 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,645,4421.6m $84.1m $84.1m 0.01% Added +979.2k +979,189
9 ASSETMARK, INC 0.14% of their portfolio CONCORD, CA 1,314,2021.3m $67.2m $67.2m 0.14% Added +63.0k +63,008
10 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,297,3651.3m $66.3m $66.3m 0.00% Reduced -173.3k -173,260
11 Forum Financial Management, LP 0.83% of their portfolio LOMBARD, IL 1,252,0711.3m $64.0m $64.0m 0.83% Reduced -24.9k -24,945
12 Focus Partners Wealth 0.07% of their portfolio ST LOUIS, MO 1,245,0681.2m $63.6m $63.6m 0.07% Reduced -116.8k -116,843
13 COMMONWEALTH EQUITY SERVICES, LLC 0.06% of their portfolio WALTHAM, MA 896,707896.7k $45.8m $45.8m 0.06% Reduced -7.5k -7,469
14 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 848,990849.0k $43.4m $43.4m 0.01% Added +53.3k +53,259
15 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 815,431815.4k $41.7m $41.7m 0.01% Added +60.7k +60,710
16 Man Group plc 0.06% of their portfolio LONDON, X0 658,489658.5k $33.7m $33.7m 0.06% Added +449.7k +449,680
17 TIAA TRUST, NATIONAL ASSOCIATION 0.07% of their portfolio CHARLOTTE, NC 568,072568.1k $29.0m $29.0m 0.07% Reduced -34.4k -34,394
18 REGIONS FINANCIAL CORP 0.17% of their portfolio BIRMINGHAM, AL 526,884526.9k $26.9m $26.9m 0.17% Reduced -6.2k -6,237
19 PRUDENTIAL FINANCIAL INC 0.03% of their portfolio NEWARK, NJ 479,895479.9k $24.5m $24.5m 0.03% Reduced -347.1k -347,105
20 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 479,171479.2k $24.5m $24.5m 0.01% Reduced -61.0k -60,992
21 Counterpoint Mutual Funds LLC 1.67% of their portfolio San Diego, CA 441,820441.8k $22.6m $22.6m 1.67% Added +83.7k +83,670
22 UBS Group AG 0.00% of their portfolio ZURICH, V8 370,908370.9k $19.0m $19.0m 0.00% Added +4.6k +4,644
23 OneDigital Investment Advisors LLC 0.16% of their portfolio OVERLAND PARK, KS 318,331318.3k $16.3m $16.3m 0.16% Added +59.0k +59,013
24 Revolve Wealth Partners, LLC 1.81% of their portfolio Hackensack, NJ 301,236301.2k $15.4m $15.4m 1.81% Reduced -19.4k -19,368
25 WESTWOOD HOLDINGS GROUP INC 0.11% of their portfolio DALLAS, TX 255,887255.9k $13.1m $13.1m 0.11% Added +53.9k +53,919
26 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 246,227246.2k $12.6m $12.6m 0.02% Reduced -30.9k -30,856
27 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 235,904235.9k $12.1m $12.1m 0.00% Added +26.2k +26,173
28 CAPSTONE INVESTMENT ADVISORS, LLC 0.08% of their portfolio NEW YORK, NY 202,701202.7k $10.4m $10.4m 0.08% Added +103.4k +103,400
29 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 197,043197.0k $10.1m $10.1m 0.01% Added +16.0k +16,016
30 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 178,900178.9k $9.1m $9.1m 0.00% Unchanged
31 CWM, LLC 0.02% of their portfolio OMAHA, NE 173,903173.9k $8.9m $8.9m 0.02% Reduced -5.7k -5,677
32 Avantax Planning Partners, Inc. 0.24% of their portfolio DUBUQUE, IA 167,591167.6k $8.6m $8.6m 0.24% Reduced -30.1k -30,052
33 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 152,610152.6k $7.8m $7.8m 0.00% Reduced -11.4k -11,428
34 Retirement Investment Advisors, Inc. 0.60% of their portfolio OKLAHOMA CITY, OK 144,805144.8k $7.4m $7.4m 0.60% Added +9.8k +9,831
35 FSA Advisors, Inc. 0.15% of their portfolio TROY, MI 132,749132.7k $216.5k $216.5k 0.15% New
36 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 128,934128.9k $6.6m $6.6m 0.01% Reduced -163.8k -163,774
37 Merit Financial Group, LLC 0.05% of their portfolio ALPHARETTA, GA 123,485123.5k $6.3m $6.3m 0.05% Added +6.6k +6,635
38 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 0.11% of their portfolio Seattle, WA 120,324120.3k $6.2m $6.2m 0.11% Reduced -3.3k -3,303
39 GUGGENHEIM CAPITAL LLC 0.04% of their portfolio CHICAGO, IL 119,324119.3k $6.1m $6.1m 0.04% Reduced -5.1k -5,100
40 ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ 0.26% of their portfolio SALT LAKE CITY, UT 108,277108.3k $5.5m $5.5m 0.26% Added +51.9k +51,939
41 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 108,213108.2k $5.5m $5.5m 0.01% Reduced -7.3k -7,280
42 Veery Capital, LLC 1.65% of their portfolio Wilmington, DE 105,177105.2k $5.4m $5.4m 1.65% Reduced -597 -597
43 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.08% of their portfolio MINNEAPOLIS, MN 104,445104.4k $5.3m $5.3m 0.08% Added +17.1k +17,072
44 Beacon Pointe Advisors, LLC 0.04% of their portfolio NEWPORT BEACH, CA 103,103103.1k $5.3m $5.3m 0.04% Added +8.8k +8,773
45 Hamilton Wealth, LLC 0.96% of their portfolio LOS ANGELES, CA 98,72398.7k $5.0m $5.0m 0.96% Added +55.2k +55,208
46 Cyndeo Wealth Partners, LLC 0.27% of their portfolio ST. PETERSBURG, FL 96,21896.2k $4.9m $4.9m 0.27% Added +4.7k +4,659
47 IFG Advisory, LLC 0.21% of their portfolio ATLANTA, GA 94,18694.2k $4.8m $4.8m 0.21% Added +4.2k +4,199
48 Ellevest, Inc. 0.61% of their portfolio NEW YORK, NY 86,25286.3k $4.4m $4.4m 0.61% Added +4.6k +4,622
49 Symphony Financial, Ltd. Co. 0.58% of their portfolio HOUSTON, TX 84,28984.3k $4.3m $4.3m 0.58% New
50 Bernicke Wealth Management, Ltd. 0.55% of their portfolio ALTOONA, WI 84,17384.2k $4.3m $4.3m 0.55% First filing
51 Kestra Investment Management, LLC 0.10% of their portfolio AUSTIN, TX 83,92083.9k $4.3m $4.3m 0.10% Added +7.9k +7,946
52 Mariner, LLC 0.00% of their portfolio Overland Park, KS 80,07480.1k $4.1m $4.1m 0.00% Reduced -3.3k -3,324
53 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 79,61579.6k $4.1m $4.1m 0.00% Reduced -9.2k -9,211
54 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 79,32179.3k $4.1m $4.1m 0.01% Reduced -8.1k -8,098
55 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 79,01179.0k $4.0m $4.0m 0.01% Reduced -3.3k -3,269
56 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 74,86974.9k $3.8m $3.8m 0.02% Reduced -48.8k -48,754
57 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 74,29174.3k $3.8m $3.8m 0.02% Added +11.8k +11,794
58 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 73,92373.9k $3.8m $3.8m 0.01% Reduced -76.8k -76,777
59 Trivium Point Advisory, LLC 0.38% of their portfolio WILTON, CT 73,37173.4k $3.8m $3.8m 0.38% Added +6.7k +6,740
60 Smartleaf Asset Management LLC 0.14% of their portfolio BOSTON, MA 72,31472.3k $3.7m $3.7m 0.14% Added +43.3k +43,281
61 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 72,29972.3k $3.7m $3.7m 0.01% Reduced -248 -248
62 Wealthspire Advisors, LLC 0.03% of their portfolio NEW YORK, NY 72,13172.1k $3.7m $3.7m 0.03% Reduced -2.2k -2,159
63 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 71,82871.8k $3.7m $3.7m 0.00% Reduced -1.8k -1,804
64 Insight Wealth Strategies, LLC 0.39% of their portfolio SAN RAMON, CA 67,38267.4k $3.4m $3.4m 0.39% Reduced -11.6k -11,640
65 Ironwood Investment Counsel, LLC 0.47% of their portfolio SCOTTSDALE, AZ 66,07366.1k $3.4m $3.4m 0.47% Reduced -4.2k -4,182
66 Avidian Wealth Enterprises, LLC 0.12% of their portfolio Houston, TX 64,07364.1k $3.3m $3.3m 0.12% Added +856 +856
67 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 63,60063.6k $3.3m $3.3m 0.00% Added +38.8k +38,845
68 BlackRock, Inc. 0.00% of their portfolio New York, NY 60,54760.5k $3.1m $3.1m 0.00% Added +27.7k +27,683
69 Wealthcare Advisory Partners LLC 0.06% of their portfolio WEST CHESTER, PA 60,07660.1k $3.1m $3.1m 0.06% Added +5.7k +5,661
70 Tidal Investments LLC 0.01% of their portfolio Milwaukee, WI 57,34257.3k $2.9m $2.9m 0.01% Reduced -7.3k -7,311
71 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 56,54156.5k $2.9m $2.9m 0.00% Reduced -53.2k -53,247
72 Brady Martz Wealth Solutions, LLC 0.49% of their portfolio GRAND FORKS, ND 54,65854.7k $2.8m $2.8m 0.49% Reduced -9.2k -9,226
73 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 47,28447.3k $2.4m $2.4m 0.02% Added +13.8k +13,812
74 Crabel Capital Management, LLC 1.77% of their portfolio MILWAUKEE, WI 45,68545.7k $2.3m $2.3m 1.77% Added +38.1k +38,122
75 FAS Wealth Partners, Inc. 0.14% of their portfolio LEAWOOD, KS 43,82543.8k $2.2m $2.2m 0.14% Added +2.4k +2,429
76 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 42,26642.3k $2.2m $2.2m 0.02% Added +18.1k +18,085
77 Valmark Advisers, Inc. 0.03% of their portfolio AKRON, OH 41,26741.3k $2.1m $2.1m 0.03% Added +2.6k +2,645
78 EXCHANGE TRADED CONCEPTS, LLC 0.02% of their portfolio Oklahoma City, OK 40,80540.8k $2.1m $2.1m 0.02% Added +13.4k +13,379
79 Ocean Park Asset Management, LLC 0.10% of their portfolio SANTA MONICA, CA 40,80540.8k $2.1m $2.1m 0.10% Added +13.4k +13,379
80 SYKON CAPITAL LLC 0.66% of their portfolio HARRISON, NY 40,26240.3k $2.1m $2.1m 0.66% New
81 Wedmont Private Capital 0.07% of their portfolio WEST CHESTER, PA 39,47339.5k $2.0m $2.0m 0.07% Added +696 +696
82 Idaho Trust Co 0.65% of their portfolio BOISE, ID 38,24138.2k $2.0m $2.0m 0.65% Reduced -4.9k -4,853
83 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 37,86837.9k $1.9m $1.9m 0.00% Reduced -65.4k -65,380
84 One Capital Management, LLC 0.06% of their portfolio WESTLAKE VILLAGE, CA 37,20437.2k $1.9m $1.9m 0.06% Added +629 +629
85 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 36,48836.5k $1.9m $1.9m 0.00% Added +4.5k +4,477
86 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 36,22836.2k $1.9m $1.9m 0.00% Added +3.9k +3,874
87 Melone Private Wealth, LLC 0.77% of their portfolio AUBURN HILLS, MI 35,58535.6k $1.8m $1.8m 0.77% Added +2.0k +2,037
88 INTRUST BANK NA 0.15% of their portfolio WICHITA, KS 35,38035.4k $1.8m $1.8m 0.15% Unchanged
89 PINNACLE ASSOCIATES LTD 0.02% of their portfolio NEW YORK, NY 34,02034.0k $1.7m $1.7m 0.02% Added +150 +150
90 BROWN WEALTH MANAGEMENT, LLC 0.45% of their portfolio NAPERVILLE, IL 33,36833.4k $1.7m $1.7m 0.45% Added +811 +811
91 Betterment LLC 0.00% of their portfolio NEW YORK, NY 32,98433.0k $1.7m $1.7m 0.00% Added +199 +199
92 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 32,48032.5k $1.7m $1.7m 0.00% Reduced -654.2k -654,186
93 KENNEDY INVESTMENT GROUP, INC. 0.62% of their portfolio WEST DEPTFORD, NJ 32,24132.2k $1.6m $1.6m 0.62% Added +1.1k +1,065
94 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 31,73331.7k $1.6m $1.6m 0.00% Reduced -9.5k -9,534
95 Diversified Enterprises, LLC 0.10% of their portfolio Wilmington, DE 31,60631.6k $1.6m $1.6m 0.10% Added +15.3k +15,293
96 Westside Investment Management, Inc. 0.25% of their portfolio SANTA MONICA, CA 30,41730.4k $1.6m $1.6m 0.25% Added +1.0k +1,037
97 CERTIOR FINANCIAL GROUP, LLC 1.05% of their portfolio KING OF PRUSSIA, PA 30,19730.2k $1.5m $1.5m 1.05% Added +2.3k +2,341
98 LAUREL OAK WEALTH MANAGEMENT, LLC 0.26% of their portfolio MARLTON, NJ 30,04830.0k $1.5m $1.5m 0.26% First filing
99 Apeiron RIA LLC 0.31% of their portfolio Dallas, TX 29,79429.8k $1.5m $1.5m 0.31% Reduced -3.1k -3,097
100 DRAVO BAY LLC 0.63% of their portfolio REHOBOTH BEACH, DE 29,77029.8k $1.5m $1.5m 0.63% Reduced -1.5k -1,463