VanEck Morningstar Wide Moat ETF

MOAT • BATS

VanEck Morningstar Wide Moat ETF is an exchange-traded fund on BATS. As of Q3 2025, 663 institutional investors hold shares in this ETF, with total holdings valued at $7.4B. MORGAN STANLEY is the largest holder with a position valued at $655.7M.

Overview

Overview of institutional ownership in MOAT as of Q3 2025

All Institutions

Institutions: 663
Value Held: $7.4B
Shares Held: 74.9M
Avg Position: $11.2M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 10
Value Held: $24.3M
Shares Held: 245.6K
Avg Position: $2.4M
Median Position: $1.1M

Biggest Investors

Institutions with the largest positions in MOAT as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$655.7M 0.04% of portfolio	6.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
L LPL Financial LLC Institution	-	$634.6M 0.19% of portfolio	6.4M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$622.8M 0.05% of portfolio	6.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$318.6M 0.10% of portfolio	3.2M shares	Q4 2024 Held for 11 months	$310.43B
M Mesirow Financial Investment Management, Inc. RIA/Wealth	Natalie Annette Brown CEO	$260.4M 4.68% of portfolio	2.6M shares	Q4 2023 Held for 1y 11m	$5.6B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$230.1M 0.05% of portfolio	2.3M shares	Q3 2013 Held for 12y 2m	$488.50B
Boulay Financial Advisors, LLC RIA/Wealth	Jon James Melander Chairman	$210.1M 29.48% of portfolio	2.1M shares	Q1 2025 Held for 8 months	$712.4M
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	Wayne Michael Bloom CEO	$153.9M 0.22% of portfolio	1.6M shares	Q4 2017 Held for 7y 11m	$71.1B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$121.3M 0.14% of portfolio	1.2M shares	Q4 2020 Held for 4y 11m	$85.4B
J JONES FINANCIAL COMPANIES LLLP Institution	-	$108.3M 0.07% of portfolio	1.1M shares	Q4 2023 Held for 1y 11m	$146.70B

Net Capital Flow

Institutional buying and selling activity for MOAT in Q3 2025

Traded: −$401.9M
Buyers: 196
Sellers: 376
Total Bought: +$238.8M
Total Sold: −$640.6M
Avg Position: $10.6M

Biggest Buyers

Institution	Net Bought	Current Position
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$74.3M +750.2K shares	$78.7M 794.6K shares
Cetera Investment Advisers RIA/Wealth	+$60.6M +611.3K shares	$121.3M 1.2M shares
A Advisor Group Holdings, Inc. Institution	+$13.3M +134.7K shares	$73.1M 741.9K shares
J JONES FINANCIAL COMPANIES LLLP Institution	+$10.6M +108.1K shares	$108.3M 1.1M shares
Goss Wealth Management LLC RIA/Wealth	+$10.6M +107.2K shares	$25.6M 258.2K shares
Boulay Financial Advisors, LLC RIA/Wealth	+$4.1M +41.0K shares	$210.1M 2.1M shares
Iwamoto, Kong & Co., Inc. Real Assets	+$3.3M +32.8K shares	$48.9M 493.8K shares
Buttonwood Financial Advisors Inc. RIA/Wealth	+$3.1M +31.3K shares	$29.6M 298.6K shares
Rockefeller Capital Management L.P. Long Only Manager	+$2.2M +21.9K shares	$13.9M 140.6K shares
W WILEY BROS.-AINTREE CAPITAL, LLC Institution	+$2.0M +20.3K shares	$11.3M 113.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$61.7M −622.2K shares	$318.6M 3.2M shares
Employees' Retirement Fund of the City of Fort Worth RIA/Wealth	−$53.8M −543.0K shares	$11.8M 118.9K shares
BANK OF AMERICA CORP /DE/ Institution	−$50.0M −504.3K shares	$622.8M 6.3M shares
UBS Group AG Institution	−$40.4M −407.8K shares	$96.6M 975.2K shares
GGM Financials LLC RIA/Wealth	−$25.1M −267.9K shares	Sold Off 0 shares
Whitaker-Myers Wealth Managers, LTD. RIA/Wealth	−$24.5M −247.1K shares	$40.8M 411.4K shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	−$24.4M −246.5K shares	$153.9M 1.6M shares
Signal Advisors Wealth, LLC RIA/Wealth	−$23.4M −250.0K shares	Sold Off 0 shares
CWM, LLC RIA/Wealth	−$19.9M −200.6K shares	$67.6M 682.3K shares
MORGAN STANLEY RIA/Wealth	−$16.6M −167.9K shares	$655.7M 6.6M shares

Entry and Exit Activity

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

New Positions: 15
New Value: $4.2M
Exited Positions: 38
Exited Value: $67.5M

New Positions

Institution	Position Value
Siligmueller & Norvid Wealth Advisors LLC RIA/Wealth	$1.3M 13.4K shares
Ritter Daniher Financial Advisory LLC / DE RIA/Wealth	$967.7K 9.8K shares
A Arlington Financial Advisors, LLC Institution	$335.2K 3.4K shares
Whelan Financial RIA/Wealth	$273.7K 2.8K shares
American Financial Advisors, LLC RIA/Wealth	$233.3K 2.4K shares
L LM Advisors LLC RIA/Wealth	$232.1K 2.3K shares
N NavPoint Financial, Inc. RIA/Wealth	$222.1K 2.2K shares
M Matthew Goff Investment Advisor, LLC Institution	$209.6K 2.1K shares
K KRAEMATON INVESTMENT ADVISORS, INC RIA/Wealth	$200.2K 2.0K shares
I Independence Bank of Kentucky Institution	$69.4K 700.0 shares

Exited Positions

Institution	Previous Position
GGM Financials LLC RIA/Wealth	$25.1M 267.9K shares
Signal Advisors Wealth, LLC RIA/Wealth	$23.4M 250.0K shares
Advisor OS, LLC Fund of Funds	$5.3M 56.5K shares
MinichMacGregor Wealth Management, LLC RIA/Wealth	$3.9M 41.5K shares
U United Community Bank Institution	$1.5M 15.6K shares
E EWG Elevate Inc. Institution	$1.4M 14.7K shares
Tradewinds, LLC. RIA/Wealth	$1.0M 10.8K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	$627.5K 6.7K shares
Oversea-Chinese Banking CORP Ltd Real Assets	$568.5K 6.1K shares
M MISSION WEALTH MANAGEMENT, LLC Institution	$550.5K 5.9K shares

Options Activity

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

Call Positions: 2
Call Value: $852.3K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$465.8K 47.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$386.5K 39.0 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Boulay Financial Advisors, LLC RIA/Wealth	Jon James Melander Chairman	29.48% $210.1M	2.1M shares	Q1 2025 Held for 8 months	$712.4M
C CEERA INVESTMENTS, LLC RIA/Wealth	Rajesh Chelapurath President	14.71% $46.4M	468.0K shares	Q1 2021 Held for 4y 8m	$315.3M
Graver Capital Management, LLC RIA/Wealth	James Harrison Graver CCO	13.82% $16.4M	165.5K shares	Q4 2024 Held for 11 months	$118.7M
Verde Capital Management RIA/Wealth	Carl Szasz President	13.35% $60.2M	607.9K shares	Q4 2019 Held for 5y 11m	$451.3M
Provenance Wealth Advisors, LLC RIA/Wealth	Peter Scott Mottek CEO	11.72% $90.5M	912.9K shares	Q3 2023 Held for 2y 2m	$771.8M
Beaumont Asset Management, L.L.C. RIA/Wealth	Francis Pierce Coker Managing Partner	10.94% $21.7M	219.3K shares	Q4 2019 Held for 5y 11m	$198.7M
Planned Solutions, Inc. RIA/Wealth	Chase W Armer President	10.46% $29.6M	298.7K shares	Q4 2021 Held for 3y 11m	$283.0M
Buttonwood Financial Advisors Inc. RIA/Wealth	Damian Joseph Gallina President	10.19% $29.6M	298.6K shares	Q4 2021 Held for 3y 11m	$290.5M
S Southern Farm Bureau Life Insurance Institution	-	9.88% $83.8M	845.0K shares	Q2 2022 Held for 3y 5m	$847.9M
G2 CAPITAL MANAGEMENT, LLC / OH RIA/Wealth	Greg Robert Grabovac Managing Partner	9.69% $38.4M	387.5K shares	Q4 2021 Held for 3y 11m	$396.2M

Hedge Fund Spotlight

Discover hedge funds investing in MOAT

Cutler Capital Management, LLC

Hedge Fund • Convert Bond Arb

Portfolio ManagerGeoffrey Kristopher Allan Dancey

Portfolio Value: $205.9M
Positions: 83
Last Reported: Q3 2025

Sector Allocation

Position in VanEck Morningstar Wide Moat ETF

Market Value: $2.8M
Shares Held: 28.0K
Portfolio Weight: 1.35%
Owned Since: 2021-Q1

Top Holding	Sector	Market Value	Weight
1 Agnico Eagle Mines AEM	Gold Basic Materials	$20.6M	10.02%
2 MetLife MET	Insurance - Life Financial Services	$13.6M	6.63%
3 CTO Realty Growth CTO	REIT - Diversified Real Estate	$10.8M	5.26%