Overlay Shares Large Cap Equity

OVL • ARCA

Overlay Shares Large Cap Equity is an exchange-traded fund on ARCA. As of Q3 2025, 37 institutional investors hold shares in this ETF, with total holdings valued at $163.0M. Armis Advisers, LLC is the largest holder with a position valued at $105.7M.

Overview

Overview of institutional ownership in OVL as of Q3 2025

All Institutions

Institutions: 37
Value Held: $163.0M
Shares Held: 3.1M
Avg Position: $4.4M
Median Position: $499.8K

Hedge Funds

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

Biggest Investors

Institutions with the largest positions in OVL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Armis Advisers, LLC RIA/Wealth	Gregory Thomas Wright CEO	$105.7M 9.95% of portfolio	2.0M shares	Q4 2024 Held for 11 months	$1.1B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$15.3M 0.00% of portfolio	292.0K shares	Q1 2020 Held for 5y 8m	$341.99B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$10.1M 0.00% of portfolio	193.9K shares	Q4 2024 Held for 11 months	$310.43B
L Legacy Private Trust Co. Institution	-	$4.9M 0.30% of portfolio	94.5K shares	Q1 2021 Held for 4y 8m	$1.7B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$4.9M 0.00% of portfolio	93.1K shares	Q4 2022 Held for 2y 11m	$1.56T
R ROYAL BANK OF CANADA Institution	-	$3.6M 0.00% of portfolio	69.0K shares	Q1 2020 Held for 5y 8m	$542.04B
Equitable Holdings, Inc. Institution	Robin M. Raju CEO	$2.2M 0.02% of portfolio	41.5K shares	Q2 2025 Held for 5 months	$13.6B
Janney Montgomery Scott LLC RIA/Wealth	Anthony Matthew Miller CEO	$1.9M 0.00% of portfolio	36.0K shares	Q1 2020 Held for 5y 8m	$40.0B
Smartleaf Asset Management LLC Long Only Manager	Gerard Alexander Michael Managing Partner	$1.8M 0.12% of portfolio	35.5K shares	Q4 2023 Held for 1y 11m	$1.6B
Private Advisor Group, LLC RIA/Wealth	Franklin R Smith CEO	$1.8M 0.01% of portfolio	35.3K shares	Q4 2020 Held for 4y 11m	$20.3B

Net Capital Flow

Institutional buying and selling activity for OVL in Q3 2025

Traded: −$68.7M
Buyers: 17
Sellers: 18
Total Bought: +$2.9M
Total Sold: −$71.6M
Avg Position: $4.2M

Biggest Buyers

Institution	Net Bought	Current Position
O OLD MISSION CAPITAL LLC Institution	+$515.7K +9.9K shares	$515.7K 9.9K shares
AE Wealth Management LLC RIA/Wealth	+$422.0K +8.1K shares	$552.2K 10.6K shares
Equitable Holdings, Inc. Institution	+$350.6K +6.7K shares	$2.2M 41.5K shares
Smartleaf Asset Management LLC Long Only Manager	+$280.3K +5.4K shares	$1.8M 35.5K shares
Private Advisor Group, LLC RIA/Wealth	+$273.7K +5.2K shares	$1.8M 35.3K shares
J JANE STREET GROUP, LLC Institution	+$252.4K +4.8K shares	$252.4K 4.8K shares
Creative Planning RIA/Wealth	+$225.2K +4.3K shares	$225.2K 4.3K shares
G GTS SECURITIES LLC Institution	+$206.2K +3.9K shares	$206.2K 3.9K shares
RiverFront Investment Group, LLC Long Only Manager	+$167.4K +3.2K shares	$499.8K 9.6K shares
Luminist Capital LLC RIA/Wealth	+$119.3K +2.3K shares	$139.5K 2.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
C COUNTRY TRUST BANK Institution	−$65.7M −1.4M shares	Sold Off 0 shares
L Legacy Private Trust Co. Institution	−$2.7M −51.4K shares	$4.9M 94.5K shares
Armis Advisers, LLC RIA/Wealth	−$1.0M −19.0K shares	$105.7M 2.0M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$484.3K −10.0K shares	Sold Off 0 shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$395.2K −7.6K shares	$15.3M 292.0K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$376.5K −7.2K shares	$10.1M 193.9K shares
JPMORGAN CHASE & CO Institution	−$218.2K −4.2K shares	$4.9M 93.1K shares
R ROYAL BANK OF CANADA Institution	−$179.1K −3.4K shares	$3.6M 69.0K shares
W WOLVERINE TRADING, LLC Institution	−$139.5K −2.7K shares	$685.5K 13.2K shares
IFP Advisors, Inc RIA/Wealth	−$133.9K −2.6K shares	$136.2K 2.6K shares

Entry and Exit Activity

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

New Positions: 1
New Value: $628.0
Exited Positions: 2
Exited Value: $66.2M

New Positions

Institution	Position Value
MAI Wealth Advisors RIA/Wealth	$628.0 12.0 shares

Exited Positions

Institution	Previous Position
C COUNTRY TRUST BANK Institution	$65.7M 1.4M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$484.3K 10.0K shares

Options Activity

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Armis Advisers, LLC RIA/Wealth	Gregory Thomas Wright CEO	9.95% $105.7M	2.0M shares	Q4 2024 Held for 11 months	$1.1B
Johnson & White Wealth Management, LLC RIA/Wealth	Timothy Paul White CCO	0.82% $1.8M	34.3K shares	Q3 2022 Held for 3y 2m	$218.3M
L Legacy Private Trust Co. Institution	-	0.30% $4.9M	94.5K shares	Q1 2021 Held for 4y 8m	$1.7B
Q QTR Family Wealth, LLC RIA/Wealth	Chad Michael Hunter CEO	0.21% $435.2K	8.3K shares	Q1 2025 Held for 8 months	$209.6M
Luminist Capital LLC RIA/Wealth	Justin John Biebel CIO	0.14% $139.5K	2.7K shares	Q4 2024 Held for 11 months	$103.0M
REAP Financial Group, LLC RIA/Wealth	Hannah Sandra Heerlein Founder	0.13% $614.2K	11.7K shares	Q4 2023 Held for 1y 11m	$460.3M
Smartleaf Asset Management LLC Long Only Manager	Gerard Alexander Michael Managing Partner	0.12% $1.8M	35.5K shares	Q4 2023 Held for 1y 11m	$1.6B
NBC SECURITIES, INC. RIA/Wealth	Bradford Lee Phelan CEO	0.06% $703.0K	13.4K shares	Q3 2023 Held for 2y 2m	$1.3B
H Hilltop Holdings Inc. Institution	-	0.05% $904.9K	17.3K shares	Q3 2024 Held for 1y 2m	$1.9B
Waterloo Capital, L.P. RIA/Wealth	John Thomas Chatmas CEO	0.04% $494.5K	9.5K shares	Q1 2023 Held for 2y 8m	$1.3B