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MUNC · Northern Trust 2045 Tax-Exempt Distributing Ladder ETF · Holdings ETF

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$98.16 +0.06 (+0.06%)
Volume · Oct 20 8 Avg daily vol (3M) 824

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP →
Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.
Holders: 6
Total Value: $8,078,342
Total Shares: 78,564

Institutional Ownership Trend

4 quarters

Holder Concentration

Across 6 13F filers · Δ vs Mar 31, 2026
Top Holder
25.5%
Sep 2025 → Jun 2026 · range 21.0% – 28.3%
−0.0 pts
Top 5
94.4%
Sep 2025 → Jun 2026 · range 92.4% – 95.7%
−0.7 pts
Top 10
100.0%
Sep 2025 → Jun 2026 · range 100.0% – 100.0%
0.0 pts
HHI
2,013
Sep 2025 → Jun 2026 · range 1,873 – 2,098
Moderately concentrated−85

Who Holds MUNC

Last 4 quarters through Jun 30, 2026

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026: 6 filers, like-for-like change +0.1%; actively managed books -5.6%; index-like books +13.0%.

Holder type Share Filers Change
Bank 53.3% 3 +8.0%
Holding company 25.5% 1 0.0%
Unknown 21.2% 2 -15.5%
How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Conviction and Crowding

6 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders
0
0.000% of filers hold it in their top 10
Mar 31, 2026: 0
Holders above 5%
0
median weight 0.000%
Mar 31, 2026: 0
Crowding
—
shares outstanding is an issuer-wide count, not one listing's
Private-fund advisers
—
of shares outstanding
Institutional ownership
—
shares outstanding is an issuer-wide count, not one listing's
Top 10 holders
100.0%
of 13F shares, Herfindahl 0.201
Active holders
-5.6%
like-for-like share change of active filers
5% stakes on record
0
0 13D, 0 13G
How long holders have held it value-weighted 3.9 quarters
Under 1 year 8.80% 1 to 3 years 91.2% 3 years or more 0.000% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost
$101.27
estimated per share
Mar 31, 2026: $101.24
Quarter-end price
$102.82
implied by 13F values
Estimated gain or loss
+1.5%
price against the estimated cost
Estimated at a loss
0.000%
of costed 13F value

Estimated cost covers 100.0% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Quarterly Activity

vs Mar 31, 2026
New
0
Increased
1
Decreased
2
Sold Out
0
Unchanged
3

New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.

Holder count: 0
Institutional value: +1.2%
Shares held: +0.1%

Top Buyers

vs Mar 31, 2026
Institution Added Now Holds Open
NORTHERN TRUST CORP +3,105 6,912

Top Sellers

vs Mar 31, 2026
Institution Sold Now Holds Open
OLD MISSION CAPITAL LLC −3,058 12,259
JANE STREET GROUP, LLC −1 4,393
Filter: New 0 Increased 1 Reduced 2 Sold out 0 Unchanged 3
Holder type: Bank 3 Holding company 1 Unknown 2
Showing 6 of 6
All Common Calls Puts
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Holder Value (USD) % of 13F Shares Open
BANK OF AMERICA CORP /DE/ MUNC $2,056,500 25.46% 20,000
MORGAN STANLEY MUNC $2,056,500 25.46% 20,000
JPMORGAN CHASE & CO MUNC $1,542,375 19.09% 15,000
OLD MISSION CAPITAL LLC MUNC $1,260,531 15.60% 12,259
NORTHERN TRUST CORP MUNC $710,726 8.80% 6,912
JANE STREET GROUP, LLC MUNC $451,710 5.59% 4,393