LeaderShares AlphaFactor Tactical Focused

LSAT • ARCA

LeaderShares AlphaFactor Tactical Focused is an exchange-traded fund on ARCA. As of Q3 2025, 24 institutional investors hold shares in this ETF, with total holdings valued at $77.0M. Redwood Investment Management, LLC is the largest holder with a position valued at $34.6M.

Overview

Overview of institutional ownership in LSAT as of Q3 2025

All Institutions

Institutions: 24
Value Held: $77.0M
Shares Held: 1.9M
Avg Position: $3.2M
Median Position: $654.3K

Hedge Funds

Hedge Funds: 0
Value Held: -
Shares Held: -
Avg Position: -
Median Position: -

Biggest Investors

Institutions with the largest positions in LSAT as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Redwood Investment Management, LLC Long Only Manager	Michael Tze-Chun Cheung Managing Partner	$34.6M 3.79% of portfolio	835.1K shares	Q4 2020 Held for 4y 11m	$910.5M
L LPL Financial LLC Institution	-	$21.1M 0.01% of portfolio	510.2K shares	Q4 2020 Held for 4y 11m	$340.07B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$4.8M 0.01% of portfolio	115.7K shares	Q4 2022 Held for 2y 11m	$85.4B
Spire Wealth Management RIA/Wealth	Bruce Murray Hernandez Managing Partner	$3.3M 0.11% of portfolio	80.8K shares	Q4 2023 Held for 1y 11m	$2.9B
Mariner Wealth Advisors, LLC RIA/Wealth	Martin Christopher Bicknell CEO	$3.2M 0.00% of portfolio	78.1K shares	Q4 2022 Held for 2y 11m	$77.3B
Private Advisor Group, LLC RIA/Wealth	Franklin R Smith CEO	$2.1M 0.01% of portfolio	51.2K shares	Q4 2020 Held for 4y 11m	$20.3B
UBS Group AG Institution	Sergio P. Ermotti CEO	$1.6M 0.00% of portfolio	38.0K shares	Q4 2020 Held for 4y 11m	$511.54B
Cambridge Investment Research Advisors, Inc. RIA/Wealth	Amy Lynn Webber CEO	$1.1M 0.00% of portfolio	27.1K shares	Q3 2021 Held for 4y 2m	$33.5B
Gladstone Institutional Advisory LLC RIA/Wealth	Kristopher Bonocore President	$1.0M 0.04% of portfolio	24.4K shares	Q1 2022 Held for 3y 8m	$2.6B
IHT Wealth Management, LLC RIA/Wealth	Steven John Dudash CEO	$774.9K 0.02% of portfolio	18.7K shares	Q1 2022 Held for 3y 8m	$3.9B

Net Capital Flow

Institutional buying and selling activity for LSAT in Q3 2025

Traded: −$11.4M
Buyers: 6
Sellers: 16
Total Bought: +$983.6K
Total Sold: −$12.4M
Avg Position: $2.7M

Biggest Buyers

Institution	Net Bought	Current Position
MORGAN STANLEY RIA/Wealth	+$394.1K +9.5K shares	$394.1K 9.5K shares
Cetera Investment Advisers RIA/Wealth	+$380.4K +9.2K shares	$4.8M 115.7K shares
Sontag Advisory, LLC RIA/Wealth	+$117.7K +2.8K shares	$117.7K 2.8K shares
UBS Group AG Institution	+$59.9K +1.4K shares	$1.6M 38.0K shares
Cambridge Investment Research Advisors, Inc. RIA/Wealth	+$24.7K +597.0 shares	$1.1M 27.1K shares
AE Wealth Management LLC RIA/Wealth	+$6.9K +166.0 shares	$6.9K 167.0 shares

Biggest Sellers

Institution	Net Sold	Current Position
Redwood Investment Management, LLC Long Only Manager	−$6.4M −154.9K shares	$34.6M 835.1K shares
L LPL Financial LLC Institution	−$1.8M −44.2K shares	$21.1M 510.2K shares
Envestnet Portfolio Solutions, Inc. Long Only Manager	−$1.4M −34.9K shares	Sold Off 0 shares
Private Advisor Group, LLC RIA/Wealth	−$904.1K −21.9K shares	$2.1M 51.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$568.1K −14.4K shares	Sold Off 0 shares
Spire Wealth Management RIA/Wealth	−$320.8K −7.8K shares	$3.3M 80.8K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$215.0K −5.2K shares	$217.9K 5.3K shares
Maia Wealth LLC RIA/Wealth	−$202.6K −5.1K shares	Sold Off 0 shares
Gladstone Institutional Advisory LLC RIA/Wealth	−$120.8K −2.9K shares	$1.0M 24.4K shares
HARBOUR INVESTMENTS, INC. RIA/Wealth	−$118.5K −2.9K shares	$194.9K 4.7K shares

Entry and Exit Activity

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

New Positions: 1
New Value: $117.7K
Exited Positions: 4
Exited Value: $2.2M

New Positions

Institution	Position Value
Sontag Advisory, LLC RIA/Wealth	$117.7K 2.8K shares

Exited Positions

Institution	Previous Position
Envestnet Portfolio Solutions, Inc. Long Only Manager	$1.4M 34.9K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$568.1K 14.4K shares
Maia Wealth LLC RIA/Wealth	$202.6K 5.1K shares
A AMERIFLEX GROUP, INC. Institution	$8.7K 220.0 shares

Options Activity

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Redwood Investment Management, LLC Long Only Manager	Michael Tze-Chun Cheung Managing Partner	3.79% $34.6M	835.1K shares	Q4 2020 Held for 4y 11m	$910.5M
B Barnes Dennig Private Wealth Management LLC RIA/Wealth	Deon Maryann Blaney Managing Partner	0.12% $113.4K	2.7K shares	Q1 2025 Held for 8 months	$93.1M
Yardley Wealth Management LLC RIA/Wealth	Michael Joseph Garry CEO	0.12% $215.6K	5.2K shares	Q3 2024 Held for 1y 2m	$179.0M
Spire Wealth Management RIA/Wealth	Bruce Murray Hernandez Managing Partner	0.11% $3.3M	80.8K shares	Q4 2023 Held for 1y 11m	$2.9B
C Coppell Advisory Solutions LLC RIA/Wealth	Bryce Bradley Engel CEO	0.07% $616.7K	14.8K shares	Q2 2024 Held for 1y 5m	$850.3M
Gladstone Institutional Advisory LLC RIA/Wealth	Kristopher Bonocore President	0.04% $1.0M	24.4K shares	Q1 2022 Held for 3y 8m	$2.6B
IHT Wealth Management, LLC RIA/Wealth	Steven John Dudash CEO	0.02% $774.9K	18.7K shares	Q1 2022 Held for 3y 8m	$3.9B
GREAT VALLEY ADVISOR GROUP, INC. RIA/Wealth	James J Spinelli CEO	0.01% $691.8K	16.7K shares	Q2 2024 Held for 1y 5m	$5.0B
Private Advisor Group, LLC RIA/Wealth	Franklin R Smith CEO	0.01% $2.1M	51.2K shares	Q4 2020 Held for 4y 11m	$20.3B
L LPL Financial LLC Institution	-	0.01% $21.1M	510.2K shares	Q4 2020 Held for 4y 11m	$340.07B