VanEck Preferred Securities ex Financials

PFXF • ARCA

VanEck Preferred Securities ex Financials is an exchange-traded fund on ARCA. As of Q3 2025, 187 institutional investors hold shares in this ETF, with total holdings valued at $518.3M. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $73.6M.

Overview

Overview of institutional ownership in PFXF as of Q3 2025

All Institutions

Institutions: 187
Value Held: $518.3M
Shares Held: 29.1M
Avg Position: $2.8M
Median Position: $484.7K

Hedge Funds

Hedge Funds: 4
Value Held: $7.0M
Shares Held: 392.8K
Avg Position: $1.7M
Median Position: $901.2K

Biggest Investors

Institutions with the largest positions in PFXF as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$73.6M 0.01% of portfolio	4.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
L LPL Financial LLC Institution	-	$48.5M 0.01% of portfolio	2.7M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$45.9M 0.00% of portfolio	2.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$31.3M 0.01% of portfolio	1.8M shares	Q4 2024 Held for 11 months	$310.43B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$31.2M 0.01% of portfolio	1.8M shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
State of Wisconsin - Board of Commissioners of Public Lands RIA/Wealth	Scott Allen Hayes President	$27.1M 33.54% of portfolio	1.5M shares	Q1 2023 Held for 2y 8m	$80.8M
MML INVESTORS SERVICES, LLC RIA/Wealth	Vaughn Charles Bowman CEO	$24.5M 0.07% of portfolio	1.4M shares	Q2 2017 Held for 8y 5m	$36.7B
Tanager Wealth Management LLP RIA/Wealth	Kristopher Karr Heck Managing Partner	$22.9M 2.40% of portfolio	1.3M shares	Q4 2021 Held for 3y 11m	$952.4M
Good Steward Wealth Advisors,LLC RIA/Wealth	Dale Robert Branda COO	$10.4M 7.16% of portfolio	583.4K shares	Q1 2025 Held for 8 months	$144.7M
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$9.6M 0.00% of portfolio	541.2K shares	Q3 2015 Held for 10y 2m	$341.99B

Net Capital Flow

Institutional buying and selling activity for PFXF in Q3 2025

Traded: +$35.2M
Buyers: 106
Sellers: 62
Total Bought: +$62.8M
Total Sold: −$27.6M
Avg Position: $2.5M

Biggest Buyers

Institution	Net Bought	Current Position
BANK OF AMERICA CORP /DE/ Institution	+$19.8M +1.1M shares	$73.6M 4.1M shares
L LPL Financial LLC Institution	+$5.9M +334.2K shares	$48.5M 2.7M shares
MML INVESTORS SERVICES, LLC RIA/Wealth	+$3.4M +191.5K shares	$24.5M 1.4M shares
WELLS FARGO & COMPANY/MN Institution	+$3.4M +190.1K shares	$31.2M 1.8M shares
B BLAIR WILLIAM & CO/IL Institution	+$3.0M +169.8K shares	$3.1M 171.8K shares
Tanager Wealth Management LLP RIA/Wealth	+$2.6M +144.3K shares	$22.9M 1.3M shares
Wright Fund Managment, LLC Long Only Manager	+$2.5M +139.3K shares	$2.5M 139.3K shares
Lido Advisors, LLC RIA/Wealth	+$2.1M +115.9K shares	$2.1M 115.9K shares
Good Steward Wealth Advisors,LLC RIA/Wealth	+$1.5M +84.7K shares	$10.4M 583.4K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$1.5M +83.4K shares	$1.5M 83.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
L2 Asset Management, LLC Hedge Fund•Long/Short	−$4.6M −267.0K shares	Sold Off 0 shares
AMERIPRISE FINANCIAL INC Institution	−$4.4M −247.0K shares	$3.4M 190.2K shares
Carmel Capital Partners, LLC Hedge Fund•Value	−$3.8M −214.2K shares	$5.0M 280.7K shares
S STIFEL FINANCIAL CORP Long Only Manager	−$2.5M −139.4K shares	$1.5M 83.2K shares
Q Quadrature Capital Ltd Institution	−$2.2M −130.9K shares	Sold Off 0 shares
Ballast, Inc. RIA/Wealth	−$1.7M −101.4K shares	Sold Off 0 shares
Fortis Capital Management LLC Hedge Fund•Multi-Strategy	−$1.4M −79.0K shares	$1.2M 65.9K shares
Evanson Asset Management, LLC RIA/Wealth	−$953.2K −55.7K shares	Sold Off 0 shares
H HRT FINANCIAL LLC Institution	−$651.1K −38.0K shares	Sold Off 0 shares
Apollon Wealth Management, LLC RIA/Wealth	−$586.0K −33.0K shares	$301.0K 16.9K shares

Entry and Exit Activity

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

New Positions: 13
New Value: $4.4M
Exited Positions: 19
Exited Value: $11.9M

New Positions

Institution	Position Value
INTEGRITY ALLIANCE, LLC. RIA/Wealth	$1.5M 82.8K shares
Capital Square, LLC RIA/Wealth	$951.8K 53.6K shares
Summit Financial, LLC RIA/Wealth	$546.6K 30.8K shares
Sequoia Financial Advisors, LLC RIA/Wealth	$275.5K 15.5K shares
COLDSTREAM CAPITAL MANAGEMENT INC RIA/Wealth	$219.4K 12.3K shares
Mezzasalma Advisors, LLC RIA/Wealth	$209.0K 11.8K shares
C Colony Group, LLC Institution	$194.7K 11.0K shares
OPPENHEIMER & CO INC RIA/Wealth	$183.9K 10.4K shares
E EVERGREEN CAPITAL MANAGEMENT LLC Institution	$181.3K 10.2K shares
CENTAURUS FINANCIAL, INC. RIA/Wealth	$152.3K 8.6K shares

Exited Positions

Institution	Previous Position
L2 Asset Management, LLC Hedge Fund•Long/Short	$4.6M 267.0K shares
Q Quadrature Capital Ltd Institution	$2.2M 130.9K shares
Ballast, Inc. RIA/Wealth	$1.7M 101.4K shares
Evanson Asset Management, LLC RIA/Wealth	$953.2K 55.7K shares
H HRT FINANCIAL LLC Institution	$651.1K 38.0K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$369.5K 21.6K shares
Advisory Alpha, LLC RIA/Wealth	$312.6K 18.3K shares
Capstone Triton Financial Group, LLC RIA/Wealth	$235.0K 24.2K shares
GOULD ASSET MANAGEMENT LLC /CA/ RIA/Wealth	$228.0K 13.3K shares
LIBERTY SQUARE WEALTH PARTNERS LLC RIA/Wealth	$222.8K 13.0K shares

Options Activity

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
State of Wisconsin - Board of Commissioners of Public Lands RIA/Wealth	Scott Allen Hayes President	33.54% $27.1M	1.5M shares	Q1 2023 Held for 2y 8m	$80.8M
Good Steward Wealth Advisors,LLC RIA/Wealth	Dale Robert Branda COO	7.16% $10.4M	583.4K shares	Q1 2025 Held for 8 months	$144.7M
M Measured Risk Portfolios, Inc. RIA/Wealth	Lawrence Douglas Kriesmer President	2.64% $2.4M	136.6K shares	Q4 2024 Held for 11 months	$92.0M
Tanager Wealth Management LLP RIA/Wealth	Kristopher Karr Heck Managing Partner	2.40% $22.9M	1.3M shares	Q4 2021 Held for 3y 11m	$952.4M
Carmel Capital Partners, LLC Hedge Fund•Value	Russell Gavin Silberstein Managing Partner	2.08% $5.0M	280.7K shares	Q4 2023 Held for 1y 11m	$239.6M
S Silver Coast Investments LLC Institution	-	1.74% $5.1M	285.3K shares	Q4 2023 Held for 1y 11m	$291.1M
B Brendel Financial Advisors LLC RIA/Wealth	John Joseph Brendel Managing Partner	1.44% $2.8M	157.5K shares	Q2 2023 Held for 2y 5m	$194.8M
CASTLEKEEP INVESTMENT ADVISORS LLC RIA/Wealth	Charles Wesley Kelakos Haberstroh CEO	1.13% $2.4M	134.2K shares	Q2 2024 Held for 1y 5m	$210.3M
Investors Research Corp RIA/Wealth	David Max Ragland President	0.83% $4.5M	251.5K shares	Q1 2022 Held for 3y 8m	$540.7M
H HOWARD WEALTH MANAGEMENT, LLC RIA/Wealth	Brett Lee Howard Managing Partner	0.75% $1.6M	91.4K shares	Q2 2023 Held for 2y 5m	$217.5M

Hedge Fund Spotlight

Discover hedge funds investing in PFXF

Core Wealth Partners LLC

Hedge Fund • Long/Short

Portfolio ManagerAdam Senator Wiatrak

Portfolio Value: $217.4M
Positions: 177
Last Reported: Q3 2025

Sector Allocation

Position in VanEck Preferred Securities ex Financials

Market Value: $189.9K
Shares Held: 10.7K
Portfolio Weight: 0.09%
Owned Since: 2023-Q1

Top Holding	Sector	Market Value	Weight
1 Apple AAPL	Consumer Electronics Technology	$16.5M	7.57%
2 Rockwell Automation ROK	Industrial - Machinery Industrials	$14.6M	6.70%
3 Microsoft MSFT	Software - Infrastructure Technology	$8.0M	3.70%