Renaissance IPO

IPO • ARCA

Renaissance IPO is an exchange-traded fund on ARCA. As of Q3 2025, 68 institutional investors hold shares in this ETF, with total holdings valued at $48.6M. LPL Financial LLC is the largest holder with a position valued at $7.9M.

Overview

Overview of institutional ownership in IPO as of Q3 2025

All Institutions

Institutions: 68
Value Held: $48.6M
Shares Held: 980.8K
Avg Position: $714.8K
Median Position: $202.5K

Hedge Funds

Hedge Funds: 2
Value Held: $5.2M
Shares Held: 105.5K
Avg Position: $2.6M
Median Position: $2.6M

Biggest Investors

Institutions with the largest positions in IPO as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
L LPL Financial LLC Institution	-	$7.9M 0.00% of portfolio	160.3K shares	Q2 2019 Held for 6y 5m	$340.07B
Tradition Wealth Management, LLC RIA/Wealth	Chadwick James Schumacher Director	$6.8M 0.51% of portfolio	136.5K shares	Q4 2020 Held for 4y 11m	$1.3B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$5.9M 0.00% of portfolio	118.4K shares	Q1 2021 Held for 4y 8m	$691.34B
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Scott David Hoffman CEO	$3.6M 0.01% of portfolio	71.7K shares	Q3 2025 Held for 2 months	$62.0B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$3.4M 0.00% of portfolio	68.2K shares	Q1 2024 Held for 1y 8m	$85.4B
SFI Advisors, LLC RIA/Wealth	Stephen Gaetano Vicinelli President	$3.0M 1.99% of portfolio	60.8K shares	Q4 2021 Held for 3y 11m	$151.2M
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$2.3M 0.00% of portfolio	45.8K shares	Q3 2019 Held for 6y 2m	$67.9B
Geneos Wealth Management Inc. RIA/Wealth	Ryan Wesley Diachok CEO	$1.9M 0.05% of portfolio	37.5K shares	Q3 2025 Held for 2 months	$3.9B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$1.7M 0.00% of portfolio	33.8K shares	Q3 2019 Held for 6y 2m	$122.08B
T Tower Research Capital LLC Institution	-	$1.1M 0.03% of portfolio	22.1K shares	Q4 2020 Held for 4y 11m	$3.6B

Net Capital Flow

Institutional buying and selling activity for IPO in Q3 2025

Traded: +$14.9M
Buyers: 35
Sellers: 23
Total Bought: +$17.5M
Total Sold: −$2.6M
Avg Position: $623.2K

Biggest Buyers

Institution	Net Bought	Current Position
L LPL Financial LLC Institution	+$4.8M +97.6K shares	$7.9M 160.3K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$3.6M +71.7K shares	$3.6M 71.7K shares
Geneos Wealth Management Inc. RIA/Wealth	+$1.9M +37.5K shares	$1.9M 37.5K shares
J JANE STREET GROUP, LLC Institution	+$1.1M +22.0K shares	$1.1M 22.0K shares
T Tower Research Capital LLC Institution	+$1.1M +21.8K shares	$1.1M 22.1K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$1.0M +20.9K shares	$2.3M 45.8K shares
GOLDMAN SACHS GROUP INC Institution	+$762.8K +15.4K shares	$5.9M 118.4K shares
KESTRA PRIVATE WEALTH SERVICES, LLC RIA/Wealth	+$582.6K +11.8K shares	$582.6K 11.8K shares
Steward Partners Investment Advisory, LLC RIA/Wealth	+$488.3K +9.9K shares	$488.3K 9.9K shares
JPMORGAN CHASE & CO Institution	+$423.9K +8.6K shares	$423.9K 8.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
R ROYAL BANK OF CANADA Institution	−$1.4M −27.5K shares	$351.0K 7.1K shares
D Dynamic Advisors Solutions LLC Institution	−$464.5K −10.3K shares	Sold Off 0 shares
P PFG Investments, LLC Institution	−$230.0K −5.1K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$223.2K −4.5K shares	$1.7M 33.8K shares
SFI Advisors, LLC RIA/Wealth	−$124.1K −2.5K shares	$3.0M 60.8K shares
Orion Capital Management LLC RIA/Wealth	−$67.2K −1.5K shares	Sold Off 0 shares
GERBER, LLC RIA/Wealth	−$36.2K −730.0 shares	$201.7K 4.1K shares
INTL FCSTONE INC. Institution	−$30.3K −612.0 shares	$326.2K 6.6K shares
B Belvedere Trading LLC Institution	−$19.8K −400.0 shares	$203.2K 4.1K shares
Cetera Investment Advisers RIA/Wealth	−$16.2K −326.0 shares	$3.4M 68.2K shares

Entry and Exit Activity

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

New Positions: 6
New Value: $1.1M
Exited Positions: 10
Exited Value: $778.5K

New Positions

Institution	Position Value
KESTRA PRIVATE WEALTH SERVICES, LLC RIA/Wealth	$582.6K 11.8K shares
Key Client Fiduciary Advisors, LLC RIA/Wealth	$270.2K 5.5K shares
National Asset Management, Inc. RIA/Wealth	$240.5K 4.9K shares
W Winthrop Capital Management, LLC Long Only Manager	$34.2K 690.0 shares
Copia Wealth Management RIA/Wealth	$2.1K 43.0 shares
Ancora Advisors, LLC RIA/Wealth	$150.0 3.0 shares

Exited Positions

Institution	Previous Position
D Dynamic Advisors Solutions LLC Institution	$464.5K 10.3K shares
P PFG Investments, LLC Institution	$230.0K 5.1K shares
Orion Capital Management LLC RIA/Wealth	$67.2K 1.5K shares
Park Square Financial Group, LLC RIA/Wealth	$6.7K 150.0 shares
A Atlantic Trust Group, LLC Institution	$4.5K 100.0 shares
Investors Research Corp RIA/Wealth	$2.6K 58.0 shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$2.2K 50.0 shares
P Putney Financial Group LLC Institution	$449.0 10.0 shares
CITIGROUP INC Institution	$225.0 5.0 shares
Activest Wealth Management RIA/Wealth	- - shares

Options Activity

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

Call Positions: 4
Call Value: $1.1M
Put Positions: 2
Put Value: $312.2K

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$897.0K 181.0 contracts
J JANE STREET GROUP, LLC Institution	$237.9K 48.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts
B Belvedere Trading LLC Institution	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$312.2K 63.0 contracts
B Belvedere Trading LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
SFI Advisors, LLC RIA/Wealth	Stephen Gaetano Vicinelli President	1.99% $3.0M	60.8K shares	Q4 2021 Held for 3y 11m	$151.2M
Tradition Wealth Management, LLC RIA/Wealth	Chadwick James Schumacher Director	0.51% $6.8M	136.5K shares	Q4 2020 Held for 4y 11m	$1.3B
GERBER, LLC RIA/Wealth	Randall Thomas Gerber Managing Partner	0.13% $201.7K	4.1K shares	Q4 2023 Held for 1y 11m	$158.9M
NTV ASSET MANAGEMENT LLC RIA/Wealth	Bradley Michael Foster President	0.11% $1.0M	21.1K shares	Q2 2020 Held for 5y 5m	$916.0M
Key Client Fiduciary Advisors, LLC RIA/Wealth	Richard Anthony Flora Member	0.09% $270.2K	5.5K shares	Q3 2025 Held for 2 months	$294.6M
TWIN PEAKS WEALTH ADVISORS, LLC RIA/Wealth	Katrina Lynn Hermanson COO	0.09% $250.2K	5.0K shares	Q4 2023 Held for 1y 11m	$289.3M
Lansing Street Advisors RIA/Wealth	Matthew Topley CEO	0.07% $261.7K	5.3K shares	Q1 2024 Held for 1y 8m	$375.2M
B BURKE & HERBERT BANK & TRUST CO Institution	-	0.07% $302.6K	6.1K shares	Q2 2024 Held for 1y 5m	$462.8M
Geneos Wealth Management Inc. RIA/Wealth	Ryan Wesley Diachok CEO	0.05% $1.9M	37.5K shares	Q3 2025 Held for 2 months	$3.9B
T Tower Research Capital LLC Institution	-	0.03% $1.1M	22.1K shares	Q4 2020 Held for 4y 11m	$3.6B

Hedge Fund Spotlight

Discover hedge funds investing in IPO

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 Renaissance IPO

Market Value: $1.7M
Shares Held: 33.8K
Portfolio Weight: 0.00%
Owned Since: 2019-Q3

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%