ProShares S&P 500 Dividend Aristocrats

NOBL • BATS

ProShares S&P 500 Dividend Aristocrats is an exchange-traded fund on BATS. As of Q3 2025, 749 institutional investors hold shares in this ETF, with total holdings valued at $5.6B. MORGAN STANLEY is the largest holder with a position valued at $1.2B.

Overview

Overview of institutional ownership in NOBL as of Q3 2025

All Institutions

Institutions: 749
Value Held: $5.6B
Shares Held: 53.9M
Avg Position: $7.4M
Median Position: $663.2K

Hedge Funds

Hedge Funds: 11
Value Held: $25.9M
Shares Held: 251.5K
Avg Position: $2.4M
Median Position: $818.0K

Biggest Investors

Institutions with the largest positions in NOBL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$1.2B 0.07% of portfolio	11.2M shares	Q4 2013 Held for 11y 11m	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$481.0M 0.04% of portfolio	4.7M shares	Q4 2013 Held for 11y 11m	$1.33T
L LPL Financial LLC Institution	-	$330.4M 0.10% of portfolio	3.2M shares	Q4 2013 Held for 11y 11m	$340.07B
UBS Group AG Institution	Sergio P. Ermotti CEO	$195.8M 0.04% of portfolio	1.9M shares	Q4 2014 Held for 10y 11m	$511.54B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$191.5M 0.06% of portfolio	1.9M shares	Q4 2024 Held for 11 months	$310.43B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$179.0M 0.04% of portfolio	1.7M shares	Q2 2014 Held for 11y 5m	$488.50B
Cresset Asset Management, LLC RIA/Wealth	Jack Alan Ablin Founder	$166.2M 0.65% of portfolio	1.6M shares	Q1 2020 Held for 5y 8m	$25.7B
R ROYAL BANK OF CANADA Institution	-	$152.8M 0.03% of portfolio	1.5M shares	Q4 2013 Held for 11y 11m	$542.04B
CLIFTONLARSONALLEN WEALTH ADVISORS, LLC RIA/Wealth	William Clayton Bland CEO	$134.8M 2.13% of portfolio	1.3M shares	Q2 2020 Held for 5y 5m	$6.3B
C Capitolis Liquid Global Markets LLC Private Equity	Jeffrey Alden Lesage CCO	$103.1M 0.82% of portfolio	1.0M shares	Q3 2025 Held for 2 months	$12.5B

Net Capital Flow

Institutional buying and selling activity for NOBL in Q3 2025

Traded: +$80.2M
Buyers: 287
Sellers: 358
Total Bought: +$303.1M
Total Sold: −$222.9M
Avg Position: $7.1M

Biggest Buyers

Institution	Net Bought	Current Position
C Capitolis Liquid Global Markets LLC Private Equity	+$103.1M +1.0M shares	$103.1M 1.0M shares
MORGAN STANLEY RIA/Wealth	+$43.8M +424.7K shares	$1.2B 11.2M shares
Moran Wealth Management, LLC RIA/Wealth	+$28.8M +279.3K shares	$28.8M 279.3K shares
Cetera Investment Advisers RIA/Wealth	+$27.7M +268.8K shares	$78.7M 763.8K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$13.2M +127.8K shares	$16.9M 163.5K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$10.9M +105.4K shares	$12.3M 119.5K shares
Carrera Capital Advisors RIA/Wealth	+$4.3M +41.4K shares	$34.2M 331.7K shares
Integrated Advisors Network LLC RIA/Wealth	+$3.6M +35.2K shares	$7.0M 68.0K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	+$3.4M +32.9K shares	$3.4M 33.2K shares
J JONES FINANCIAL COMPANIES LLLP Institution	+$3.4M +32.8K shares	$21.3M 208.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
Cresset Asset Management, LLC RIA/Wealth	−$19.4M −188.6K shares	$166.2M 1.6M shares
GOLDMAN SACHS GROUP INC Institution	−$17.4M −169.3K shares	$10.3M 100.0K shares
WELLS FARGO & COMPANY/MN Institution	−$12.0M −116.8K shares	$179.0M 1.7M shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$10.5M −101.4K shares	$30.8M 298.8K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$9.2M −89.7K shares	$191.5M 1.9M shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	−$9.1M −88.5K shares	$80.2M 777.7K shares
Ballast, Inc. RIA/Wealth	−$8.2M −81.3K shares	Sold Off 0 shares
UBS Group AG Institution	−$7.7M −74.3K shares	$195.8M 1.9M shares
D DAVIDSON D A & CO Institution	−$7.6M −73.8K shares	$8.2M 79.1K shares
JPMORGAN CHASE & CO Institution	−$7.3M −70.8K shares	$10.7M 104.2K shares

Entry and Exit Activity

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

New Positions: 22
New Value: $136.6M
Exited Positions: 31
Exited Value: $16.2M

New Positions

Institution	Position Value
C Capitolis Liquid Global Markets LLC Private Equity	$103.1M 1.0M shares
Moran Wealth Management, LLC RIA/Wealth	$28.8M 279.3K shares
Fiscal Wisdom Wealth Management, LLC RIA/Wealth	$1.1M 11.1K shares
M Montis Financial, LLC RIA/Wealth	$723.0K 7.0K shares
R Rede Wealth, LLC RIA/Wealth	$474.1K 4.6K shares
VANGUARD GROUP INC Institution	$419.0K 4.1K shares
C Cottage Street Advisors LLC Institution	$329.8K 3.2K shares
Waldron, LP RIA/Wealth	$263.8K 2.6K shares
Painted Porch Advisors LLC RIA/Wealth	$244.2K 2.4K shares
CWA Asset Management Group, LLC RIA/Wealth	$229.4K 2.2K shares

Exited Positions

Institution	Previous Position
Ballast, Inc. RIA/Wealth	$8.2M 81.3K shares
T Tower Research Capital LLC Institution	$1.4M 13.6K shares
D D. E. Shaw & Co., Inc. Institution	$1.0M 10.3K shares
GGM Financials LLC RIA/Wealth	$899.7K 8.9K shares
Duncan Williams Asset Management, LLC RIA/Wealth	$733.1K 7.3K shares
J JANE STREET GROUP, LLC Institution	$662.5K 6.6K shares
Octavia Wealth Advisors, LLC RIA/Wealth	$632.1K 6.2K shares
SILVER OAK SECURITIES, Inc RIA/Wealth	$316.4K 3.1K shares
Massey, Quick & Co., LLC RIA/Wealth	$269.2K 2.7K shares
BURLING WEALTH PARTNERS, LLC RIA/Wealth	$262.6K 2.6K shares

Options Activity

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

Call Positions: 2
Call Value: $4.0M
Put Positions: 2
Put Value: $1.2M

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.4M 232.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.6M 155.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$742.1K 72.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$422.6K 41.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
IAM Advisory, LLC RIA/Wealth	Joseph Clark Parsons Managing Partner	15.60% $69.4M	673.2K shares	Q4 2020 Held for 4y 11m	$444.7M
Pacific Wealth Strategies Group, Inc. RIA/Wealth	Jeffery Dane Brookshire President	11.49% $18.7M	181.1K shares	Q4 2016 Held for 8y 11m	$162.5M
Landmark Wealth Management, LLC RIA/Wealth	Joseph Michael Favorito Managing Partner	7.27% $18.2M	176.2K shares	Q4 2021 Held for 3y 11m	$249.8M
REDMONT WEALTH ADVISORS LLC RIA/Wealth	James Milton Thomas Langer CIO	6.74% $4.9M	47.2K shares	Q3 2022 Held for 3y 2m	$72.2M
G Galilei Investment Office LLP Family Office	Amir Levy CEO	6.64% $13.8M	134.1K shares	Q4 2024 Held for 11 months	$208.0M
ForthRight Wealth Management, LLC RIA/Wealth	Brian Patrick Johnston CIO	6.57% $22.6M	219.3K shares	Q4 2020 Held for 4y 11m	$344.2M
Carrera Capital Advisors RIA/Wealth	Keith Nichol CEO	6.48% $34.2M	331.7K shares	Q2 2025 Held for 5 months	$527.5M
Mowery & Schoenfeld Wealth Management, LLC RIA/Wealth	Jeffery Lynn Mowery CEO	4.56% $2.7M	25.8K shares	Q4 2023 Held for 1y 11m	$58.2M
PRING TURNER CAPITAL GROUP INC RIA/Wealth	Thomas John Kopas CEO	4.37% $7.2M	69.4K shares	Q3 2023 Held for 2y 2m	$163.8M
S Summit Financial Wealth Advisors, LLC RIA/Wealth	Alvin R Anton CEO	3.91% $25.3M	245.3K shares	Q4 2014 Held for 10y 11m	$645.3M

Hedge Fund Spotlight

Discover hedge funds investing in NOBL

Lavaca Capital LLC

Hedge Fund • Vol Arbitrage

Portfolio ManagerScott Latorre Phillips

Portfolio Value: $552.4M
Positions: 256
Last Reported: Q3 2025

Sector Allocation

Position in ProShares S&P 500 Dividend Aristocrats

Market Value: $10.7K
Shares Held: 104.0
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 CoreWeave, Inc. CRWV	Software - Infrastructure Technology	$273.7M	49.55%
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$78.1M	14.14%
3 Nvidia NVDA	Semiconductors Technology	$36.8M	6.66%