Panagram

CLOZ • ARCA

Panagram is an exchange-traded fund on ARCA. As of Q3 2025, 98 institutional investors hold shares in this ETF, with total holdings valued at $383.3M. SRS Capital Advisors, Inc. is the largest holder with a position valued at $54.3M.

Overview

Overview of institutional ownership in CLOZ as of Q3 2025

All Institutions

Institutions: 98
Value Held: $383.3M
Shares Held: 14.3M
Avg Position: $3.9M
Median Position: $884.8K

Hedge Funds

Hedge Funds: 5
Value Held: $19.7M
Shares Held: 734.4K
Avg Position: $3.9M
Median Position: $4.7M

Biggest Investors

Institutions with the largest positions in CLOZ as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
SRS Capital Advisors, Inc. RIA/Wealth	Gerald Haig Ariyan Chairman	$54.3M 0.79% of portfolio	2.0M shares	Q2 2025 Held for 5 months	$6.9B
S SECURITY BENEFIT LIFE INSURANCE CO /KS/ Institution	-	$43.6M 17.55% of portfolio	1.6M shares	Q4 2024 Held for 11 months	$248.5M
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$38.3M 0.01% of portfolio	1.4M shares	Q1 2025 Held for 8 months	$691.34B
Kovitz Investment Group Partners, LLC RIA/Wealth	Mitchell Armin Kovitz CEO	$33.9M 0.13% of portfolio	1.3M shares	Q2 2024 Held for 1y 5m	$25.6B
Guardian Financial Partners, LLC RIA/Wealth	Patrick Claude Robert Guinet Managing Partner	$20.7M 8.75% of portfolio	773.4K shares	Q3 2023 Held for 2y 2m	$237.0M
B Black Swift Group, LLC RIA/Wealth	Gregory Joel Casals CIO	$16.8M 3.02% of portfolio	626.2K shares	Q3 2023 Held for 2y 2m	$556.8M
Wright Fund Managment, LLC Long Only Manager	Albert George Schweiss CEO	$10.8M 0.45% of portfolio	403.3K shares	Q3 2025 Held for 2 months	$2.4B
Brookstone Capital Management RIA/Wealth	Nadim "Dean" Zayed CEO	$10.5M 0.13% of portfolio	389.6K shares	Q2 2024 Held for 1y 5m	$8.3B
B Ball & Co Wealth Management Inc. Institution	-	$10.0M 9.26% of portfolio	374.6K shares	Q3 2025 Held for 2 months	$108.5M
S State of New Jersey Common Pension Fund D Institution	-	$8.0M 0.03% of portfolio	300.0K shares	Q3 2024 Held for 1y 2m	$27.2B

Net Capital Flow

Institutional buying and selling activity for CLOZ in Q3 2025

Traded: +$54.8M
Buyers: 67
Sellers: 27
Total Bought: +$102.7M
Total Sold: −$47.9M
Avg Position: $3.5M

Biggest Buyers

Institution	Net Bought	Current Position
SRS Capital Advisors, Inc. RIA/Wealth	+$16.1M +599.7K shares	$54.3M 2.0M shares
Wright Fund Managment, LLC Long Only Manager	+$10.8M +403.3K shares	$10.8M 403.3K shares
B Ball & Co Wealth Management Inc. Institution	+$10.0M +374.6K shares	$10.0M 374.6K shares
GOLDMAN SACHS GROUP INC Institution	+$6.8M +255.0K shares	$38.3M 1.4M shares
Carmel Capital Partners, LLC Hedge Fund•Value	+$5.7M +211.5K shares	$5.7M 211.5K shares
BB&T CORP Institution	+$5.4M +201.1K shares	$5.4M 201.1K shares
B Black Swift Group, LLC RIA/Wealth	+$5.2M +192.8K shares	$16.8M 626.2K shares
Kestra Advisory Services, LLC RIA/Wealth	+$4.9M +181.6K shares	$6.7M 248.0K shares
F FLOW TRADERS U.S. LLC Institution	+$4.3M +159.5K shares	$4.3M 159.5K shares
Bienville Capital Management, LLC Hedge Fund•Multi-Strategy	+$3.0M +111.1K shares	$5.9M 220.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
S State of New Jersey Common Pension Fund D Institution	−$18.8M −700.0K shares	$8.0M 300.0K shares
BARCLAYS PLC Institution	−$8.5M −318.6K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$6.5M −241.2K shares	$1.7M 62.6K shares
Gradient Investments LLC RIA/Wealth	−$5.7M −214.0K shares	$7.5M 280.7K shares
O OLD MISSION CAPITAL LLC Institution	−$3.2M −119.9K shares	Sold Off 0 shares
T Tower Research Capital LLC Institution	−$2.8M −103.3K shares	$1.1M 40.5K shares
Brookstone Capital Management RIA/Wealth	−$846.3K −31.6K shares	$10.5M 389.6K shares
HOHIMER WEALTH MANAGEMENT, LLC RIA/Wealth	−$267.4K −10.0K shares	Sold Off 0 shares
VestGen Advisors, LLC RIA/Wealth	−$264.8K −9.9K shares	Sold Off 0 shares
T Triad Wealth Partners, LLC RIA/Wealth	−$202.8K −7.6K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CLOZ in Q3 2025

New Positions: 13
New Value: $20.8M
Exited Positions: 10
Exited Value: $12.6M

New Positions

Institution	Position Value
B Ball & Co Wealth Management Inc. Institution	$10.0M 374.6K shares
Carmel Capital Partners, LLC Hedge Fund•Value	$5.7M 211.5K shares
Maridea Wealth Management LLC RIA/Wealth	$2.2M 84.0K shares
V Virtue Capital Management, LLC RIA/Wealth	$862.8K 32.2K shares
National Asset Management, Inc. RIA/Wealth	$615.4K 22.9K shares
Essex Financial Services, Inc. RIA/Wealth	$603.2K 22.5K shares
Ausdal Financial Partners, Inc. RIA/Wealth	$310.9K 11.6K shares
Farther Finance Advisors, LLC RIA/Wealth	$273.6K 10.2K shares
MAI Wealth Advisors RIA/Wealth	$114.7K 4.3K shares
STANCE CAPITAL LLC Long Only Manager	$67.1K 2.5K shares

Exited Positions

Institution	Previous Position
BARCLAYS PLC Institution	$8.5M 318.6K shares
O OLD MISSION CAPITAL LLC Institution	$3.2M 119.9K shares
HOHIMER WEALTH MANAGEMENT, LLC RIA/Wealth	$267.4K 10.0K shares
VestGen Advisors, LLC RIA/Wealth	$264.8K 9.9K shares
T Triad Wealth Partners, LLC RIA/Wealth	$202.8K 7.6K shares
Manchester Capital Management LLC Family Office	$107.0K 4.0K shares
PRINCIPAL SECURITIES, INC. RIA/Wealth	$19.7K 737.0 shares
Mount Yale Investment Advisors, LLC RIA/Wealth	$5.5K 206.0 shares
BANK OF AMERICA CORP /DE/ Institution	$241.0 9.0 shares
Mid-American Wealth Advisory Group, Inc. RIA/Wealth	$214.0 8.0 shares

Options Activity

Institutions with the largest Call and Put options positions in CLOZ as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with CLOZ as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
S SECURITY BENEFIT LIFE INSURANCE CO /KS/ Institution	-	17.55% $43.6M	1.6M shares	Q4 2024 Held for 11 months	$248.5M
B Ball & Co Wealth Management Inc. Institution	-	9.26% $10.0M	374.6K shares	Q3 2025 Held for 2 months	$108.5M
Guardian Financial Partners, LLC RIA/Wealth	Patrick Claude Robert Guinet Managing Partner	8.75% $20.7M	773.4K shares	Q3 2023 Held for 2y 2m	$237.0M
B Black Swift Group, LLC RIA/Wealth	Gregory Joel Casals CIO	3.02% $16.8M	626.2K shares	Q3 2023 Held for 2y 2m	$556.8M
Carmel Capital Partners, LLC Hedge Fund•Value	Russell Gavin Silberstein Managing Partner	2.37% $5.7M	211.5K shares	Q3 2025 Held for 2 months	$239.6M
C CWC Advisors, LLC. RIA/Wealth	Thane Alan Cleland CEO	1.73% $3.5M	132.1K shares	Q1 2025 Held for 8 months	$204.2M
Copia Wealth Management RIA/Wealth	Aaron Lee Boehm President	1.50% $1.9M	72.0K shares	Q1 2025 Held for 8 months	$128.7M
Bienville Capital Management, LLC Hedge Fund•Multi-Strategy	William Herbert Stimpson CEO	1.13% $5.9M	220.9K shares	Q2 2025 Held for 5 months	$524.8M
BASSO CAPITAL MANAGEMENT L.P. Hedge Fund•Multi-Strategy	Dwight Carlton Nelson Founder	1.00% $1.5M	55.7K shares	Q2 2025 Held for 5 months	$149.2M
P PRIMORIS WEALTH ADVISORS, LLC RIA/Wealth	Raymond L Eaton Managing Partner	0.88% $1.4M	51.5K shares	Q1 2025 Held for 8 months	$156.9M

Hedge Fund Spotlight

Discover hedge funds investing in CLOZ

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Panagram

Market Value: $1.9M
Shares Held: 71.0K
Portfolio Weight: 0.00%
Owned Since: 2024-Q2

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%