Virtus InfraCap U.S. Preferred Stock ETF

PFFA • ARCA

Virtus InfraCap U.S. Preferred Stock ETF is an exchange-traded fund on ARCA. As of Q3 2025, 168 institutional investors hold shares in this ETF, with total holdings valued at $338.9M. LPL Financial LLC is the largest holder with a position valued at $74.6M.

Overview

Overview of institutional ownership in PFFA as of Q3 2025

All Institutions

Institutions: 168
Value Held: $338.9M
Shares Held: 15.6M
Avg Position: $2.0M
Median Position: $481.1K

Hedge Funds

Hedge Funds: 1
Value Held: $86.2K
Shares Held: 4.1K
Avg Position: $86.2K
Median Position: $86.2K

Biggest Investors

Institutions with the largest positions in PFFA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
L LPL Financial LLC Institution	-	$74.6M 0.02% of portfolio	3.4M shares	Q3 2019 Held for 6y 2m	$340.07B
R ROYAL BANK OF CANADA Institution	-	$20.7M 0.00% of portfolio	955.1K shares	Q1 2019 Held for 6y 8m	$542.04B
Cambridge Investment Research Advisors, Inc. RIA/Wealth	Amy Lynn Webber CEO	$18.5M 0.06% of portfolio	854.2K shares	Q4 2023 Held for 1y 11m	$33.5B
A Advisor Group Holdings, Inc. Institution	-	$17.7M 0.02% of portfolio	814.3K shares	Q1 2020 Held for 5y 8m	$71.0B
Melia Wealth LLC RIA/Wealth	Gregory Scott Melia President	$15.7M 6.90% of portfolio	724.7K shares	Q2 2025 Held for 5 months	$228.2M
MML INVESTORS SERVICES, LLC RIA/Wealth	Vaughn Charles Bowman CEO	$14.8M 0.04% of portfolio	683.8K shares	Q2 2022 Held for 3y 5m	$36.7B
Steward Partners Investment Advisory, LLC RIA/Wealth	Jeani Theresa Winterbourne President	$8.6M 0.05% of portfolio	396.4K shares	Q3 2021 Held for 4y 2m	$17.4B
Anderson Financial Strategies, LLC RIA/Wealth	Shon P Anderson Managing Partner	$7.3M 4.34% of portfolio	337.8K shares	Q4 2024 Held for 11 months	$168.8M
Equitable Holdings, Inc. Institution	Robin M. Raju CEO	$7.2M 0.05% of portfolio	330.8K shares	Q3 2020 Held for 5y 2m	$13.6B
Wright Fund Managment, LLC Long Only Manager	Albert George Schweiss CEO	$7.1M 0.30% of portfolio	325.9K shares	Q3 2025 Held for 2 months	$2.4B

Net Capital Flow

Institutional buying and selling activity for PFFA in Q3 2025

Traded: +$20.7M
Buyers: 114
Sellers: 36
Total Bought: +$71.2M
Total Sold: −$50.5M
Avg Position: $1.9M

Biggest Buyers

Institution	Net Bought	Current Position
L LPL Financial LLC Institution	+$21.3M +982.3K shares	$74.6M 3.4M shares
Wright Fund Managment, LLC Long Only Manager	+$7.1M +325.9K shares	$7.1M 325.9K shares
Melia Wealth LLC RIA/Wealth	+$6.0M +277.5K shares	$15.7M 724.7K shares
Inspire Advisors, LLC RIA/Wealth	+$3.2M +147.6K shares	$3.2M 147.6K shares
AlphaCore Capital LLC Real Assets	+$2.4M +108.8K shares	$2.4M 108.8K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$1.9M +86.7K shares	$6.8M 313.5K shares
Cambridge Investment Research Advisors, Inc. RIA/Wealth	+$1.9M +85.3K shares	$18.5M 854.2K shares
A Advisor Group Holdings, Inc. Institution	+$1.7M +80.1K shares	$17.7M 814.3K shares
T TT Capital Management LLC Institution	+$1.7M +80.2K shares	$1.7M 80.2K shares
Hedeker Wealth Management Group, LLC RIA/Wealth	+$1.6M +71.4K shares	$1.6M 71.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$43.1M −2.1M shares	Sold Off 0 shares
PREVAIL INNOVATIVE WEALTH ADVISORS, LLC RIA/Wealth	−$1.9M −85.5K shares	$3.0M 139.7K shares
B Black Swift Group, LLC RIA/Wealth	−$1.1M −49.5K shares	$2.7M 124.8K shares
JACKSON THORNTON ASSET MANAGEMENT, LLC RIA/Wealth	−$549.6K −25.9K shares	Sold Off 0 shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$540.5K −25.9K shares	Sold Off 0 shares
Apollon Wealth Management, LLC RIA/Wealth	−$407.5K −18.8K shares	$322.1K 14.8K shares
AXS Investments LLC Institution	−$374.0K −17.2K shares	$2.0M 94.4K shares
Sound Income Strategies, LLC RIA/Wealth	−$345.4K −16.0K shares	$4.9M 228.9K shares
Belpointe Asset Management LLC RIA/Wealth	−$285.1K −13.1K shares	$925.5K 42.6K shares
National Asset Management, Inc. RIA/Wealth	−$231.5K −10.7K shares	$687.0K 31.6K shares

Entry and Exit Activity

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

New Positions: 16
New Value: $8.2M
Exited Positions: 9
Exited Value: $44.7M

New Positions

Institution	Position Value
T TT Capital Management LLC Institution	$1.7M 80.2K shares
Hedeker Wealth Management Group, LLC RIA/Wealth	$1.6M 71.4K shares
MONECO Advisors, LLC RIA/Wealth	$862.2K 39.7K shares
ADAPT WEALTH ADVISORS, LLC RIA/Wealth	$835.6K 38.5K shares
Summit Financial, LLC RIA/Wealth	$767.0K 35.3K shares
Investment Partners Asset Management, Inc. RIA/Wealth	$562.0K 25.9K shares
O OxenFree Capital LLC RIA/Wealth	$503.9K 23.2K shares
T TBH Global Asset Management, LLC RIA/Wealth	$500.2K 23.0K shares
S SMITH CHAS P & ASSOCIATES PA CPAS Institution	$390.8K 18.0K shares
VICTORY FINANCIAL GROUP, LLC RIA/Wealth	$240.3K 11.1K shares

Exited Positions

Institution	Previous Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	$43.1M 2.1M shares
JACKSON THORNTON ASSET MANAGEMENT, LLC RIA/Wealth	$549.6K 25.9K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$540.5K 25.9K shares
W WCG Wealth Advisors LLC Institution	$221.0K 10.6K shares
Stratos Wealth Partners, LTD. RIA/Wealth	$204.5K 9.8K shares
CALDWELL SUTTER CAPITAL, INC. RIA/Wealth	$22.9K 1.1K shares
PNC FINANCIAL SERVICES GROUP, INC. Institution	$18.7K 900.0 shares
T Tower Research Capital LLC Institution	$10.0K 481.0 shares
R Roble, Belko & Company, Inc Institution	$3.0K 142.0 shares

Options Activity

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

Call Positions: 1
Call Value: $712.1K
Put Positions: 1
Put Value: $490.6K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$712.1K 328.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$490.6K 226.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Melia Wealth LLC RIA/Wealth	Gregory Scott Melia President	6.90% $15.7M	724.7K shares	Q2 2025 Held for 5 months	$228.2M
Anderson Financial Strategies, LLC RIA/Wealth	Shon P Anderson Managing Partner	4.34% $7.3M	337.8K shares	Q4 2024 Held for 11 months	$168.8M
F Future Financial Wealth Managment LLC RIA/Wealth	Dennis Paul Marinich Managing Partner	2.33% $3.7M	170.1K shares	Q4 2024 Held for 11 months	$158.7M
T TT Capital Management LLC Institution	-	1.33% $1.7M	80.2K shares	Q3 2025 Held for 2 months	$130.9M
INFRASTRUCTURE CAPITAL ADVISORS, LLC ETF Provider	Jay Don Hatfield CEO	1.12% $6.3M	288.5K shares	Q2 2018 Held for 7y 5m	$561.1M
AXS Investments LLC Institution	Gregory David Bassuk CEO	0.89% $2.0M	94.4K shares	Q1 2025 Held for 8 months	$229.5M
Samalin Investment Counsel, LLC RIA/Wealth	Andrew Evan Samalin Managing Partner	0.73% $2.1M	96.9K shares	Q4 2022 Held for 2y 11m	$289.2M
C Chung Wu Investment Group, LLC Institution	-	0.70% $841.0K	38.7K shares	Q4 2024 Held for 11 months	$120.1M
PREVAIL INNOVATIVE WEALTH ADVISORS, LLC RIA/Wealth	Kerry Lee Lawing CEO	0.59% $3.0M	139.7K shares	Q3 2024 Held for 1y 2m	$515.1M
Atlas Wealth Partners, LLC RIA/Wealth	Michael Joseph Janvrin Managing Partner	0.57% $553.6K	25.5K shares	Q1 2023 Held for 2y 8m	$97.7M