NAPR · Holdings ETF
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.
Institutional Ownership Trend
Holder Concentration
Across 17 13F filers · Δ vs Jun 30, 2026Who Holds NAPR
Last 8 quarters through Sep 30, 2026 (filing window open)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, the newest closed quarter: 108 filers, like-for-like change +10.1%; actively managed books +10.7%; index-like books -67.9%.
| Holder type | Share | Filers | Change |
|---|---|---|---|
| Registered adviser | 40.8% | 74 | -15.0% |
| Adviser | 4.6% | 1 | +0.8% |
| Bank | 1.6% | 3 | -16.9% |
| Broker-dealer | 4.4% | 1 | +89.8% |
| Holding company | 11.8% | 3 | +21.9% |
| Unknown | 36.7% | 26 | +51.6% |
| Style | Share | Filers | Change |
|---|---|---|---|
| Index-like | 0.2% | 2 | -67.9% |
| Systematic-like | 0.1% | 1 | new |
| Concentrated | 27.1% | 28 | +20.0% |
| Diversified active | 72.5% | 77 | +7.4% |
| Unknown | 0.0% | 0 | — |
| Not measured | 0.0% | 0 | — |
| Turnover | Share | Filers | Change |
|---|---|---|---|
| Low turnover | 82.8% | 70 | +15.2% |
| Medium turnover | 8.6% | 21 | -5.1% |
| High turnover | 2.3% | 5 | -57.7% |
| Unknown | 6.3% | 12 | +41.7% |
| Not measured | 0.0% | 0 | — |
| Holding horizon | Share | Filers | Change |
|---|---|---|---|
| Short horizon | 7.9% | 13 | +34.5% |
| Medium horizon | 15.4% | 20 | +25.4% |
| Long horizon | 76.0% | 74 | +5.7% |
| Unknown | 0.7% | 1 | -6.3% |
| Not measured | 0.0% | 0 | — |
| 13F book size | Share | Filers | Change |
|---|---|---|---|
| Under $1B | 21.1% | 41 | -26.1% |
| $1B to $10B | 17.8% | 33 | +7.1% |
| $10B to $100B | 49.1% | 23 | +38.5% |
| $100B or more | 12.0% | 11 | +17.5% |
| Not measured | 0.0% | 0 | — |
| Client base | Share | Filers | Change |
|---|---|---|---|
| Individuals and high net worth | 40.4% | 71 | -15.7% |
| Pooled investment vehicles | 0.1% | 1 | new |
| Pension and profit sharing plans | 0.2% | 1 | new |
| Other investment advisers | 0.1% | 1 | -5.7% |
| Unknown | 59.2% | 34 | +38.3% |
| Private funds | Share | Filers | Change |
|---|---|---|---|
| Hedge funds | 0.5% | 2 | +37.9% |
| Private equity funds | 1.4% | 3 | -4.5% |
| Other private funds | 1.3% | 3 | -3.0% |
| Mixed private funds | 0.0% | 0 | — |
| No private funds | 34.7% | 64 | -18.5% |
| Real estate funds | 3.0% | 2 | +27.1% |
| Private funds, type not stated | 0.0% | 0 | — |
| Unknown | 59.2% | 34 | +38.3% |
| Location | Share | Filers | Change |
|---|---|---|---|
| United States | 99.5% | 106 | +10.1% |
| Outside the US | 0.5% | 2 | +21.1% |
The Sep 30, 2026 filing window is still open, so its bar shows only the filers that have filed so far.
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.
Excluded 1 holder with no observed 2026-03-31 13F and 3 holders with no observed 2026-06-30 13F.
Conviction and Crowding
108 13F filers, quarter ended Jun 30, 2026Measured 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.
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 basisEstimated, 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 cost covers 64.7% 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
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.
Top Buyers
vs Jun 30, 2026| Institution | Added | Now Holds | Open |
|---|---|---|---|
| Mid CoreCap Advisors, LLC | +2,231 | 11,144 | |
| Small Beacon Financial Advisory LLC | +250 | 9,122 | |
| Mid First Heartland Consultants, Inc. | +167 | 6,704 |
Top Sellers
vs Jun 30, 2026| Institution | Sold | Now Holds | Open |
|---|---|---|---|
| Small Cambridge Advisors Inc. | −1,360 | 25,269 | |
| Mid IFP Advisors, Inc | −720 | 15,205 | |
| Small RED CRANE WEALTH MANAGEMENT, LLC | −282 | 72,085 | |
| Small Todd Wealth Management, LLC | −53 | 19,840 |
Top New Positions
vs Jun 30, 2026| Institution | Acquired | Value (USD) | Open |
|---|---|---|---|
| Small Hofer & Associates. Inc | 72,085 | $4,387,093 | |
| Small IFS Advisors, LLC | 353 | $21,483 |
Top Sold-Out Positions
vs Jun 30, 2026| Institution | Previously Held | Last Value (USD) | Open |
|---|---|---|---|
| Small Maia Wealth LLC | 3,927 | $232,478 | |
| Mid PFG Advisors | 3,882 | $229,814 | |
| Large MATHER GROUP, LLC. | 1,813 | $107,329 | |
| Small GILL CAPITAL PARTNERS, LLC | 1,682 | $99,574 |
| Holder | Value (USD) | % of 13F | Shares | Type | Filed | Open |
|---|---|---|---|---|---|---|
| Small Hofer & Associates. Inc NAPR | $4,387,093 | 24.24% | 72,085 | Shares | 2026-10-13 | |
| Small RED CRANE WEALTH MANAGEMENT, LLC NAPR | $4,387,093 | 24.24% | 72,085 | Shares | 2026-10-14 | |
| Small Cambridge Advisors Inc. Registered adviser NAPR | $1,537,871 | 8.50% | 25,269 | Shares | 2026-10-19 | |
| Mid AdvisorNet Financial, Inc Registered adviser NAPR | $1,370,932 | 7.57% | 22,526 | Shares | 2026-10-15 | |
| Small Todd Wealth Management, LLC Registered adviser NAPR | $1,207,462 | 6.67% | 19,840 | Shares | 2026-10-19 | |
| Mid IFP Advisors, Inc Registered adviser NAPR | $925,376 | 5.11% | 15,205 | Shares | 2026-10-16 | |
| Small CRA Financial Services, LLC Registered adviser NAPR | $757,341 | 4.18% | 12,444 | Shares | 2026-10-16 | |
| Mid CoreCap Advisors, LLC Registered adviser NAPR | $678,223 | 3.75% | 11,144 | Shares | 2026-10-08 | |
| Small Beacon Financial Advisory LLC Registered adviser NAPR | $555,164 | 3.07% | 9,122 | Shares | 2026-10-16 | |
| Large Concurrent Investment Advisors, LLC Registered adviser NAPR | $542,932 | 3.00% | 8,921 | Shares | 2026-10-16 | |
| Mid Focus Financial Network, Inc. NAPR | $477,446 | 2.64% | 7,845 | Shares | 2026-10-14 | |
| Mid First Heartland Consultants, Inc. Registered adviser NAPR | $408,005 | 2.25% | 6,704 | Shares | 2026-10-08 | |
| Small Liberty Atlantic Advisors LLC NAPR | $400,580 | 2.21% | 6,582 | Shares | 2026-10-14 | |
| Mid Dynamic Advisor Solutions LLC NAPR | $376,419 | 2.08% | 6,185 | Shares | 2026-10-13 | |
| Small Triumph Capital Management Registered adviser NAPR | $60,860 | 0.34% | 1,000 | Shares | 2026-10-14 | |
| Small IFS Advisors, LLC Registered adviser NAPR | $21,483 | 0.12% | 353 | Shares | 2026-10-14 | |
| Small Noble Wealth Management PBC NAPR | $6,086 | 0.03% | 100 | Shares | 2026-10-01 |