Janus Henderson Small/Mid Cap Growth Alpha ETF

JSMD • NASDAQ

Janus Henderson Small/Mid Cap Growth Alpha ETF is an exchange-traded fund on NASDAQ. As of Q3 2025, 96 institutional investors hold shares in this ETF, with total holdings valued at $420.1M. LPL Financial LLC is the largest holder with a position valued at $62.2M.

Overview

Overview of institutional ownership in JSMD as of Q3 2025

All Institutions

Institutions: 96
Value Held: $420.1M
Shares Held: 5.0M
Avg Position: $4.4M
Median Position: $567.5K

Hedge Funds

Hedge Funds: 1
Value Held: $312.0K
Shares Held: 3.7K
Avg Position: $312.0K
Median Position: $312.0K

Biggest Investors

Institutions with the largest positions in JSMD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
L LPL Financial LLC Institution	-	$62.2M 0.02% of portfolio	744.2K shares	Q4 2022 Held for 2y 11m	$340.07B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$59.7M 0.00% of portfolio	713.7K shares	Q4 2022 Held for 2y 11m	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$56.4M 0.00% of portfolio	674.9K shares	Q4 2022 Held for 2y 11m	$1.33T
Retirement Network RIA/Wealth	Andrew Ribelin Grider President	$30.0M 4.53% of portfolio	359.3K shares	Q4 2022 Held for 2y 11m	$663.7M
Resonant Capital Advisors, LLC RIA/Wealth	Benjamin Nathan Dickey CEO	$19.6M 1.14% of portfolio	234.7K shares	Q4 2022 Held for 2y 11m	$1.7B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$18.8M 0.01% of portfolio	225.1K shares	Q1 2025 Held for 8 months	$341.99B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$18.4M 0.01% of portfolio	219.7K shares	Q4 2024 Held for 11 months	$310.43B
S STIFEL FINANCIAL CORP Long Only Manager	Adam Vartan Topalian CIO	$15.8M 0.01% of portfolio	189.1K shares	Q2 2025 Held for 5 months	$109.37B
Rise Advisors, LLC RIA/Wealth	Mark Bradford Jones Partner	$14.0M 5.03% of portfolio	167.4K shares	Q3 2025 Held for 2 months	$278.4M
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$12.6M 0.00% of portfolio	150.2K shares	Q1 2023 Held for 2y 8m	$433.11B

Net Capital Flow

Institutional buying and selling activity for JSMD in Q3 2025

Traded: +$36.3M
Buyers: 55
Sellers: 28
Total Bought: +$60.0M
Total Sold: −$23.6M
Avg Position: $4.2M

Biggest Buyers

Institution	Net Bought	Current Position
Rise Advisors, LLC RIA/Wealth	+$14.0M +167.4K shares	$14.0M 167.4K shares
S STIFEL FINANCIAL CORP Long Only Manager	+$8.6M +103.2K shares	$15.8M 189.1K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$8.3M +99.8K shares	$18.8M 225.1K shares
W WILEY BROS.-AINTREE CAPITAL, LLC Institution	+$7.8M +92.3K shares	$7.8M 92.3K shares
L LPL Financial LLC Institution	+$7.4M +89.0K shares	$62.2M 744.2K shares
Kestra Advisory Services, LLC RIA/Wealth	+$1.6M +19.5K shares	$2.1M 24.8K shares
MORGAN STANLEY RIA/Wealth	+$1.3M +15.5K shares	$59.7M 713.7K shares
A Advisor Group Holdings, Inc. Institution	+$1.0M +12.0K shares	$5.4M 65.2K shares
Cetera Investment Advisers RIA/Wealth	+$989.5K +11.8K shares	$3.8M 45.4K shares
We Are One Seven, LLC RIA/Wealth	+$876.8K +10.5K shares	$876.8K 10.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
BANK OF AMERICA CORP /DE/ Institution	−$11.8M −141.2K shares	$56.4M 674.9K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$6.5M −77.2K shares	$18.4M 219.7K shares
S Systelligence, LLC Institution	−$2.5M −30.2K shares	$6.8M 81.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$495.3K −6.4K shares	Sold Off 0 shares
Clark Capital Management Group, Inc. RIA/Wealth	−$458.7K −5.5K shares	$7.5M 89.5K shares
Ameritas Advisory Services, LLC RIA/Wealth	−$308.7K −3.7K shares	$427.4K 5.1K shares
AssuredPartners Investment Advisors, LLC RIA/Wealth	−$264.0K −3.2K shares	$305.4K 3.7K shares
Breakwater Capital Group RIA/Wealth	−$204.6K −2.4K shares	$2.7M 31.7K shares
A Advisory Services Network, LLC RIA/Wealth	−$198.3K −2.4K shares	$2.9M 34.2K shares
Farther Finance Advisors, LLC RIA/Wealth	−$182.0K −2.2K shares	$250.0K 3.0K shares

Entry and Exit Activity

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

New Positions: 13
New Value: $25.4M
Exited Positions: 3
Exited Value: $501.3K

New Positions

Institution	Position Value
Rise Advisors, LLC RIA/Wealth	$14.0M 167.4K shares
W WILEY BROS.-AINTREE CAPITAL, LLC Institution	$7.8M 92.3K shares
We Are One Seven, LLC RIA/Wealth	$876.8K 10.5K shares
D DAVIDSON D A & CO Institution	$828.3K 9.9K shares
Nova Wealth Management, Inc. RIA/Wealth	$477.6K 5.7K shares
Gotham Asset Management, LLC Hedge Fund•Long/Short	$312.0K 3.7K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	$307.0K 3.7K shares
B BURKE & HERBERT BANK & TRUST CO Institution	$255.8K 3.1K shares
C Cornerstone Wealth Management, LLC RIA/Wealth	$209.6K 2.5K shares
Pensionmark Financial Group, LLC Pension/Endowment	$202.7K 2.4K shares

Exited Positions

Institution	Previous Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$495.3K 6.4K shares
Comprehensive Financial Planning, Inc./PA RIA/Wealth	$4.3K 55.0 shares
BANK OF MONTREAL /CAN/ Institution	$1.7K 22.0 shares

Options Activity

Institutions with the largest Call and Put options positions in JSMD 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 JSMD as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Rise Advisors, LLC RIA/Wealth	Mark Bradford Jones Partner	5.03% $14.0M	167.4K shares	Q3 2025 Held for 2 months	$278.4M
Retirement Network RIA/Wealth	Andrew Ribelin Grider President	4.53% $30.0M	359.3K shares	Q4 2022 Held for 2y 11m	$663.7M
Blue Rock Wealth Management LLC RIA/Wealth	Wesley Robert Reed CCO	3.19% $4.9M	59.2K shares	Q4 2024 Held for 11 months	$155.2M
Worth Financial Advisory Group, LLC RIA/Wealth	Glen Edward Wright CCO	2.82% $5.0M	59.9K shares	Q1 2023 Held for 2y 8m	$177.9M
McCarthy & Cox RIA/Wealth	James B Cox CEO	2.27% $5.6M	66.4K shares	Q1 2024 Held for 1y 8m	$244.5M
S Systelligence, LLC Institution	Kevin Robert Miller Managing Partner	1.29% $6.8M	81.2K shares	Q2 2025 Held for 5 months	$527.3M
Resonant Capital Advisors, LLC RIA/Wealth	Benjamin Nathan Dickey CEO	1.14% $19.6M	234.7K shares	Q4 2022 Held for 2y 11m	$1.7B
Balanced Rock Investment Advisor RIA/Wealth	Daniel Maclay Flannery President	0.41% $543.2K	6.5K shares	Q2 2025 Held for 5 months	$133.8M
Breakwater Capital Group RIA/Wealth	Jeffrey Craig Hanson President	0.39% $2.7M	31.7K shares	Q4 2022 Held for 2y 11m	$675.8M
Horizon Advisory Services, Inc. RIA/Wealth	Michael R. Congdon CEO	0.36% $536.5K	6.4K shares	Q4 2024 Held for 11 months	$149.0M